Counterdrone Co. Poised for Growth After Transformative 2023
Source: Daniel Laing
December 4, 2023 (Investorideas.com Newswire) DroneShield Ltd. is expected to deliver over AU$69 million in revenue for 2023, approximately 4x last year's result, noted Bell Potter analyst Daniel Laing.
DroneShield Ltd. (DRO:ASX; DRSHF:OTC) is expected to deliver over AU$69 million in revenue for 2023, approximately 4x last year's result, establishing a foundation for the company's first profitable year with AU$15.2 million in projected net income, noted Bell Potter Securities analyst Daniel Laing in a November 30 report.
Significant Scaling Underway
With strong contract momentum continuing, DroneShield is expanding operations by moving to a larger facility before year-end. Laing sees the company as well positioned financially to capitalize on robust demand.
Over AU$80 Million in Contract Wins
DroneShield secured around AU$80 million in hardware and R&D contracts over the past year that are expected to contribute AU$66 million to 2023 sales.
The current backlog stands at AU$38 million, not including additional underlying revenue.
Sales Pipeline Grows to Nearly $400 Million
Beyond current agreements, the analyst sees AU$400 million in near-term opportunities spanning North American and European defense agencies and commercial installations.
This includes a multi-year U.S. military base security rollout projected to represent over AU$20 million in revenue.
Poised for Global Industry Leadership
With its proprietary artificial intelligence driving continued innovation and demonstrated execution on large-scale deployments, Bell Potter believes DroneShield can establish itself as an industry leader in counter-drone security technology.
Based on significant growth prospects, the firm maintains a Buy rating and increases its price target by 11% to AU$0.50.
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