Products from Aussie drone company ‘quite effective’ against Russian drones

Sky news story 8 mins

DroneShield Chief Executive Oleg Vornik says the company’s technology has been “quite effective” against Russian drones in the war in Ukraine. 

“We have done initial deployment of our products under a military aid contract, and we are currently in conversations for additional shipments,” he told Sky News Business Editor Ross Greenwood. 

“Russian drones have a number of components that our systems are able to pick up and also … make it effective against Russian drones. 

“What we are finding is that even military-grade drones on the Russian side often used commercial off-the-shelf parts so with that we are finding that our gear is quite effective in both detection and defeat of those drones.”

DroneShield Limited (ASX:DRO) (“DroneShield" or the “Company”) is pleased to release its business update and Appendix 4C for the three-month period ended 31 March 2022.

Highlights

• $2.5 million customer and grant cash receipts for the 1Q22 quarter, up 32% on 1Q21.
• $10.6 million revenue for the 2021 year, up 89% on 2020.
• $155 million sales pipeline1 (prior to risk weighting applied to each project) for remainder of 2022 (with a further $175 million pipeline for 2023), with growing focus towards the more business-transparent US and Australian Government customer base. Large opportunities continue globally, notably in the Middle East and the current situation in Ukraine.
• Strong inventory balance of $14 million by sale value (including long lead raw inventory), mitigating supply chain risk and enabling rapid sales.
• Bank balance as at 31 March 2022 at $8 million, with monthly gross outflows (before revenues) of approximately $1.1 million/month. The bank balance remained approximately the same as of the date of this report.

   Investor Presentation (April 2022)  

DroneShield Cash Receipts Surge in 2021

https://yourir.info/resources/3308bfc2e9c8366b/announcements/dro.asx/2A1350541/DRO_DroneShield_Cash_Receipts_Surge_in_2021.pdf