DroneShield releases September 2019 quarterly results

DroneShield lodged its quarterly report for the 30 September 2019 quarter with the Australian Securities Exchange earlier today. You can view a copy of the report here

DroneShield continued to scale its business in the September 2019 quarter, following two prior transformational quarters in 2019. While the timing of the Company’s cashflows meant that DroneShield’s customer cash inflows in the September 2019 quarter were lower than in the previous quarter, the Company ended the quarter with approximately $3,000,000 in customer orders in relation to which payments are yet to be made by its customers.

Highlights include:

  • DroneShield raised $9,550,000 in new capital, from a substantially institutional investor base, transforming, expanding and further institutionalising its share register, market capitalisation and market liquidity, and securing its capital base for a long-term runway.
  • While DroneShield’s cash inflows from customers were $333,779 for the quarter, the Company ended the quarter with approximately $3,000,000 worth of orders that have been placed by customers and for which payments are expected to be made in the subsequent quarters.
  • Approx. $200,000 of the cash inflows during the quarter related to a new order placed by the Ministry of Defence of a large Middle Eastern country for which drone defence has recently become a critical national security issue.
  • DroneShield won the first substantial order from the Australian Department of Defence for its recently released RfPatrol product, in the amount of $700,000.
  • DroneShield announced a watershed partnership with BT, the largest telecommunications provider in the UK, which is rolling out a suite of counterdrone services nationwide in the UK, with DroneShield as its sole counterdrone provider.
  • DroneShield continued to progress multiple substantial contracts globally, with a key potential bid for an order in the amount of $60 million – $70 million having progressed from the preferred bidder status to a negotiated form of agreement.

The report covers a number of other key developments through to the date of the report, and we encourage you to review it for a detailed look at DroneShield’s substantial progress.

 

About DroneShield

Based in Sydney (Australia), Virginia and Washington, DC (USA) and London (UK), DroneShield is a worldwide leader in drone security technology. The Company has developed the pre-eminent drone security solution that protects people, organisations and critical infrastructure from intrusion from drones. Its leadership brings world-class expertise in engineering and physics, combined with deep experience in defence, intelligence, and aerospace.

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