DroneShield Limited (AU:DRO) has released an update.
DroneShield Limited has reported a significant increase in its 1Q24 revenue, reaching $16.4 million—a tenfold rise from 1Q23. The company also saw its highest ever customer cash receipts for a March quarter at $7.1 million, indicating a strong start to the year despite the quarter typically being the slowest revenue period due to seasonality. Additionally, DroneShield’s Software as a Service (SaaS) revenue doubled from the same quarter last year, driven by demand for its AI-driven drone threat mitigation solutions.
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