DroneShield (ASX:DRO) reports it has successfully completed a delivery of the all-time record purchase order of about $11 million for a Government agency customer, which was announced on 21 December 2022.
The company states that in January 2022 a substantial deposit for this order had been received, which was reflected in Q1 2023 cash receipts.
Additionally, DroneShield reports the balance payable 30 days after this recently completed delivery will be reflected in Q2 2023 cash receipts.
Commenting on the order delivery, DoneShield Chief Executive Officer (CEO) Oleg Vornik said: “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 counter drone systems.”
DroneShield is an ASX-listed company that provides artificial intelligence-based platforms for protection against advanced threats, such as drones and autonomous systems. The company’s customers include military, intelligence community, government, law enforcement, critical infrastructure, and airports globally.