DroneShield expects all-time high revenue for 2022

RfPatrol® drone detection device. Image credit: DroneShield 

Counterdrone system manufacturer DroneShield said it is on its way to posting a new all-time high record revenue for 2022, with the industry’s continuous rapid global growth. 

In an ASX announcement, DroneShield said the company has seen a significant number of achievements in 2022, including the recommendation by the US Army’s Joint Counter-small Unmanned Aircraft Systems Office for the rollout of DroneShield systems, as part of the SAIC consortium, across the US Department of Defense. 

The ASX-listed company also received a $3.7 million investment from Epirus, a high-growth US technology company that delivers software-defined directed energy systems that enable unprecedented counter-electronics effects and power management solutions to optimise power efficiency in defence and commercial applications. 

Furthermore, Droneshield established new partnerships with Teledyne FLIR, Nearmap, Allen Vanguard, and XRG, while strengthening and making additional sales through existing partnerships with BT and Thales. 

This year also saw the company’s first US civilian airport deployment, the launch of a regional testing facility in New South Wales, and deployments at Davos and Ironman Texas. 

Oleg Vornik, chief executive officer of DroneShield, said the company has been posting record results year after year since its listing in 2016. 

“This year, we are on track to post another record set of results, as the counterdrone industry continues to rapidly grow globally, with DroneShield as a pioneer and global leader in this segment,” the CEO said. 

The company posted around $10.6 million in revenue and $14.7 million in cash receipts. 

The cash receipts for 2022 will be released to the market in January 2023 as part of the 4C quarterly report. 

The 2022 Annual Report will be released in February 2023.