Quarterly Activities/Appendix 4C Cash Flow Report
| Stock | Droneshield Ltd (DRO.ASX) |
|---|---|
| Release Time | 29 Jan 2025, 8:32 a.m. |
| Price Sensitive | Yes |
DroneShield Releases Q4 2024 Report, Highlights Strong 2025 Outlook
- 2024 revenue of $57.5 million, up 6.3% YoY
- $33.4 million contracted backlog, 100% expected in 1H25
- 2024 SaaS revenues up 100% to $2.8 million
DroneShield Limited (ASX:DRO) has released its business update and Appendix 4C for the three-month period ended 31 December 2024. The company reported 2024 revenues of $57.5 million, a 6.3% year-over-year growth, though the growth of the underlying 'flow business' (regular smaller deals) was significantly larger. DroneShield has a $33.4 million contracted backlog, 100% of which is expected to be received in the first half of 2025. The company's SaaS revenues grew 100% to $2.8 million in 2024, as customers desire the latest AI software engines on their DroneShield hardware devices. DroneShield ended the year with a significant cash balance of $220.6 million, up $162.7 million from the previous year, enabling the company to invest in R&D, sales, and operations. The company is well-placed to deliver on short notice, with over $200 million in inventory. DroneShield has a robust pipeline of $1.2 billion, including opportunities in the Australian Defence Force's LAND156 program and growing demand in Asia, Europe, and Latin America. The company is expanding its Sydney facility to support higher revenue and production capacity, with a focus on the DroneSentry-X Mk2 system. DroneShield is well-positioned to address the evolving drone threat, with a substantial technology release roadmap and a team of 263 staff, including 197 engineers.
DroneShield has $33.4 million in contracted backlog, 100% of which is expected to be received in 1H25. The company also has $36 million in revenue already received or under committed Purchase Orders for delivery in 2025, with 11 months of the year remaining.
DroneShield is well-positioned for growth in 2025, with a robust $1.2 billion pipeline of defined opportunities, including the LAND156 program in Australia and growing demand in Asia, Europe, and Latin America. The company is also benefiting from the continued use of drones in global conflicts, driving innovation in counter-drone systems.