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Droneshield Ltd (ASX: DRO) experienced fluctuating movements in its shares during morning trade, alternating between small gains and small losses. This ASX technical stock closed at 38.5 cents on Friday, and as of the current writing on Monday, shares are being traded at 38.2 cents, reflecting a 0.8% decline. Earlier in the trading session, the shares saw an increase of up to 3.9%. In comparison, the All Ordinaries Index (ASX:XAO) is up 0.4% during the same period.
Investors are paying attention to recent developments from the tech company, particularly its announcement about initiating a "major update" across its global fleet of counter-drone (C-UAS) devices. The update covers all devices equipped with Droneshield's artificial intelligence (AI) based drone detection engine, RFAI, including portable, vehicle/ship, and fixed-site devices. The update aims to provide a comprehensive refinement of the product's software and user experience.
Key features of the upgrades include a 25% improvement in emitter detection accuracy and tracking, especially in scenarios with multiple emitters. Additionally, the update enhances the capabilities of Droneshield's DroneLocator detections, offering horizontal distance to detection, vertical distance to detection, true bearing of detection, and relative bearing of detection.
CEO Oleg Vornik highlighted the significance of these AI updates in the evolving landscape of drone threats. He emphasized that firmware upgrades enable customers to deal with the latest threats, and the collaboration with end-users contributes to the development of algorithms based on real-world intelligence. Vornik anticipates that these updates, along with Droneshield's computer vision AI engine and sensor fusion engine, will drive the company's revenue growth through its SaaS subscriber base in the coming years.
Angus Bean, the Chief Technology Officer, underscored Droneshield's position as a global leader in C-UAS solutions, driven by cross-disciplinary engineering teams and a commitment to delivering improved performance, usability, and reliability.
In terms of stock performance, Droneshield shares have shown a 4% increase over the past full year and a 13% gain over the last six months.
