An unnamed government agency customer has selected DroneShield in a purchase order for approximately AUS11 million for the supply of several different types of DroneShield counterdrone/C-UAS equipment. According to the DroneShield press release, the order is expected to be delivered by mid 2023. The proceeds are expected to be received across March and June 2023 quarters. The order is subject to receiving relevant export approvals.
This latest order follows a separate AUD11 million purchase order received from a different government agencty customer in December 2022.
DroneShield CEO, Oleg Vornik, commented: “As we move into repeat $10 million+ orders, DroneShield has arrived at its inflection point. Importantly, this order does not require working capital, due to the payment structure from the customer. Our processes are scaled up and ready for this step change in supply chain, production and deployment. Like with the other $11 million order received last month, the purchase contains an annual subscription component, as we move to annual recurring revenues becoming a meaningful part of our business.”
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