DroneShield Limited (AU:DRO) has released an update.
DroneShield Limited reported a significant uptick in its financial performance for the first quarter of 2024, with revenues soaring to $16.4 million, a tenfold increase from the previous year. The company’s cash position remains robust with $56.4 million and no debt, bolstered by doubled SaaS revenues and a strong contracted backlog worth $27 million. This growth is underpinned by a favorable market with increased global spending on counterdrone, defense, and security, and a promising pipeline valued at over $519 million.
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