DroneShield Limited (ASX: DRO) has made significant progress in the quarter to 31 December 2018, with a substantial increase in activity across its channels globally backed by the global recognition of the need for drone detection and mitigation. On top, the company has generated total customer cash inflows of $489,209 during the 31 December 2018 quarter, the highest quarterly cash inflows for the Company to date.
The company has bagged several achievements during the December 2018 quarter. The highlight for the quarter was the DroneShield’s products getting listed to the 2019 Australian Military Catalogue. The list is maintained by Australian Military Sales (AMS), a Directorate within the Australian Government’s Defence’s Capability Acquisition and Sustainment Group.
DroneShield’s total customer cash receipts for the calendar 2018 were $1,252,123. And following the Gatwick events in the first three weeks of the 2019 calendar year, DroneShield received approximately 50% more in cash from its customers than it did during the entire previous quarter. This translates the company’s cash receipts for the first three weeks of January 2019 of $728,628.
In October, DroneShield received and delivered an order for several DroneGunsTM for use by a Western governmental law enforcement agency, Central American government security agency as well as Asian governmental security agency. It includes DroneShield’s first-ever sale of DroneSentryTM and DroneGun TacticalTM in the Central American region that came within weeks of an attempted drone attack on Venezuela’s head of state. The order was subject to U.S. regulatory approval, and that approval was reportedly obtained within the standard timeframes during the quarter.
In November, the company announced an addition of several key distribution partners for the United States market. Its major distributors are a part of the U.S. Government’s Defense Logistics Agency’s Tailored Logistics Support (“DLA TLS”) Program that enables the U.S. Government to purchase items such as DroneShield’s products without a requirement for a public tender.
DroneShield announced a vital strategic relationship in the Middle East and Europe in December. The company also disclosed an evaluation of its products by the U.S. Department of Defense (the “DoD”). This evaluation follows the DoD allocating US$1.5 billion towards counter-drone acquisitions in 2019.
During the quarter, the company has also released two of its new products- – DroneNodeTM, a portable covert drone disruptor in a briefcase, and DroneCannon RWTM, a drone disruptor for Remote Weapon Stations. DroneShield’s DroneCannon RWTM is reportedly designed for remotely operated weaponized systems, equipped with a primary kinetic weapon such as a light or medium caliber machine gun, installed on a ground combat vehicle, sea or air based combat platform, or on a ground-based turret.
In today’s trading session, DRO stock price has edged up by 3.571% to last trade at $0.145 on 24 January 2019. Over the past 12 months, the stock has fallen by 33.33% including a negative price change of 6.67% over the past three months.
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