DroneShield Limited (AU:DRO) has released an update.
DroneShield Limited reports a revenue surge to $16.4 million in the first quarter of 2024, marking a tenfold increase from the previous year and a strong start despite the seasonality in revenue and cash receipts. The company, buoyed by a $171 million pro-forma cash balance and without any debt, is investing heavily in inventory and AI research and development to support its rapidly expanding sales pipeline. With a current manufacturing capacity of $400 million and a signed NATO Framework Agreement, DroneShield is poised to capitalize on the growing global defence and security spending.
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