DroneShield Scores $3.8m Five-Eyes Nations Deal
DroneShield (DRO) has received a $3.8 million contract with the military of a Five Eyes nation. Roughly $2 million of the contract is expected to be received in the June and September quarters.
Five Eyes is an intelligence-sharing alliance consisting of Australia, New Zealand, Canada, the UK and the United States.
This order follows a $1.1 million Five Eyes contract issued in early April, and coupled with a $500,000 initial trial purchase made last year.
Droneshield is expected to receive full payment for this contract in the June quarter. The Sydney-based company specialises in electronic warfare, artificial intelligence, sensor fusion and machine learning.
Its products are used in military, government, critical infrastructure and law enforcement services.
“This contract is testament to the world leading capabilities of the DroneShield team,” CEO Oleg Vornik commented.