On 22 July, NSW-based DroneShield, released a record quarterly report to the ASX, including a record $2.1 million in cash inflows, its first breakeven operating quarter, an increased cash balance, a ‘substantial increase’ in US government business and securing a four-year framework agreement to supply EU police forces.
“The significance is that we are seeing increasing revenues and reducing costs, demonstrating market adoption of our products and the counter-drone industry continuing rapid growth (despite COVID-19),” CEO Oleg Vornik said to ADM. “This is about continuously growing revenues, while managing costs.”
On 23 July, the company announced that the US Air Force has awarded DroneShield a contract to deploy multiple units of the DroneSentry integrated detect-and-defeat counter-drone (C-UAS) system at the Grand Forks Air Force airbase in North Dakota, protected by the 319th Security Forces Squadron...MORE
