The DroneShield Limited (ASX:DRO) share price gained as much as 14% following the release of its quarterly report for FY21.
For the quarter period ending 30 September, DroneShield registered a strong upshot, despite COVID-19 impacts on all areas of business.
The company announced a transformative capital raise of $17 million in its quarterly report.
Further, the company stated that it has received multiple orders from a range of European, United States, Australian and other states contributing to $5.2 million in orders. Majority of these orders are expected to be delivered in the current quarter.
However, shipments and payments were affected in the short-term by COVID-19, with $0.4 million in operational cash inflows, in October alone, $0.8 million has been received so far, doubling the previous quarter.
Meanwhile, the DRO shares were trading at $0.195 per share, up by 14.705% on 29 October 2020.