DroneShield Ltd announced it has successfully completed delivery of the all-time record purchase order of approximately $11 million for a Government agency customer announced on December 21, 2022. The delivery timing was in line with the original delivery timetable, the company said in the April 17 release.
A substantial deposit for this order has been received in January and reflected in the 1Q23 cash receipts, with the balance payable 30 days after this recently completed delivery, to be reflected in the 2Q23 receipts.
DroneShield CEO, Oleg Vornik, commented: “On-time delivery of this order demonstrates DroneShield’s ability to rapidly scale its operations. With the recent $40 million record capital raise and the resulting proceeds into both inventory and further strengthening of operations and engineering side of the business, we are well placed to deliver on rapidly rising demand for counterdrone systems.” –ds/adj/mhi (Pix: DroneShield)
Main pix: DroneGun Mk3 and RfPatrol Mk2