Droneshield (ASX:DRO), a leader in anti-drone technology, has reported $30.5m in cash receipts for the first nine months of 2024 — a 20% increase from the same period in 2023. This surge in revenue has been driven by key markets in the United States, Europe, and Asia, where geopolitical tensions and security concerns have spurred interest in drone countermeasures.
In response to increasing demand, Droneshield has expanded its Sydney facility, adding 1,800 sqm of production space to accommodate higher manufacturing output. This expansion is expected to boost annual capacity to $500m by 2025, with a focus on the production of the DroneSentry-X Mk2 system. CEO Oleg Vornik highlighted the importance of rapid innovation: “Our commitment to quarterly software updates ensures that our systems stay ahead of emerging drone threats, meeting the urgent requirements of our customers.”
The DroneSentry-X Mk2 system integrates AI-driven detection and electronic defeat capabilities to protect against unmanned aerial systems (UAS) threats. The system offers real-time threat intelligence, allowing operators to identify and track drones quickly, and provides options for automatic or manual disruption. Its adaptability makes it suitable for various environments, including military operations, critical infrastructure, and law enforcement scenarios. Key features include software-defined detection with continuous machine-learning updates. The DroneSentry-X Mk2 can be mounted on vehicles, ships, or set up at temporary sites, and can be deployed in under 10 minutes.
The company has a $1.1bn sales pipeline, and a solid cash position — $238.3m with no debt.
