DroneShield (DRO) has announced a massive surge in revenue for the September quarter, with an increase exceeding 1000 per cent compared to the same period last year. The company described the result as “exceptionally strong”, highlighting significant growth in its operations. DroneShield is an Australian company that develops and sells counter-drone technology. Their solutions are used to protect people, organisations and critical infrastructure from drone threats.
According to the company’s report on Monday, revenue for the three months ending September reached $92.9 million. This represents a 1091 per cent increase from the $7.8 million recorded during the corresponding period in the previous year. The substantial growth underscores the increasing demand for DroneShield’s products and services.
In addition to the impressive revenue figures, DroneShield also reported a significant improvement in operating cash flow. For the September quarter, operating cash flow reached $20.1 million, a turnaround from the $19.4 million deficit recorded during the same period last year. This positive shift indicates improved financial health and operational efficiency for the company.
Chief Executive Officer Oleg Vornik stated that DroneShield is aiming for consistent operating cash flow positivity and profitability moving forward. The company’s strong performance in the September quarter positions it well to achieve these goals.
