DroneShield Says 2024 Revenue Growth Slower Than Expected, Shares Rise 3%

MT Newswires Live

Jan 29, 2025

DroneShield (ASX:DRO) said its revenue growth in 2024 was lower than expected, but it was gearing up for stronger sales in the current year, according to a Wednesday Australian bourse filing.

It said its unaudited 2024 revenue clocked in at AU$57.5 million, compared with the revenue of AU$54.1 million it reported in 2023. It cited longer-than-expected completion of some pipeline projects as the reason for the slow revenue growth, the filing said.

The firm said AU$36 million of revenue was already received or was under committed purchase orders for delivery as of the end of January. It added that AU$33.4 million contracted backlog is expected to be received as cash in the first half of the year.

It reported a pipeline of $1.2 billion, with a ramp-up of sales expected in the significant markets of Asia and the US, per the filing.

The firm's shares rose 3% in recent trade on Wednesday.

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It cited longer-than-expected completion of some pipeline projects as the reason for the slow revenue growth, the filing said.</p><p>The firm said AU$36 million of revenue was already received or was under committed purchase orders for delivery as of the end of January. 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It cited longer-than-expected completion of some pipeline projects as the reason for the slow revenue growth, the filing said.The firm said AU$36 million of revenue was already received or was under committed purchase orders for delivery as of the end of January. It added that AU$33.4 million contracted backlog is expected to be received as cash in the first half of the year.It reported a pipeline of $1.2 billion, with a ramp-up of sales expected in the significant markets of Asia and the US, per the filing.The firm's shares rose 3% in recent trade on Wednesday.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"}}}