DroneShield Targets $190+ Million Revenue
Drones are becoming an increasing concern for militaries and enterprise customers worldwide, and a drone defense specialist, DroneShield, aims to capitalize on that and reach ~$190 million revenue. But who is this company, and what hurdles do they need to overcome to reach this goal?
In this report, based on the review of the company's financials, technical specifications, and interviews, we profile DroneShield, including:
- Background
- Headcount Analysis
- Financials, Goals for 2028
- Customer Concentration
- Focus Areas
- Hardware products
- Software
- Outlook
Executive *******
** ****, ** **********-** ***** ******* specialist,***********, ****** ********** ***** ** ******* its ******* ** ~$** ******* *** now ******* $***-*** ******* ** ****. While * ** ******** ** * positive **** *** *** *******, ~**% of *** *********** ******* **** **** two *********, ********* *** (***** ~$**.* million) **** ** *********** ** ********** agency.
*** *******'* ********* **** **** *** US ********** ***** *** ******* *********** and *** ** **** ** ****** more *********, *******, *********** ***** ** prove **** *** ***** * ******* customer **** *** *** ** ********* on * *** ********* (*.*., ** government). *** *** ***** ******* ********* (Russia-Ukraine *** ******-*****) ************ *** *** of ****** *** **** *********** ******** its ******** ****.
*********** ** ***** ** *********** (~**% of *** *****), *** ** ***** to ***** **** ** *** ***** up * ***** ************. ***** *** company (********* *** *** *********) **** to **** ***-*** ********* ** *-* years, **** ***** ******** ** **-** employees *** **** ******* *********.
** *** ******** **** *** ***********, the ******* ****** * **** ** different ********, ********* **** ***** ******* devices (********, *******-*******, *** *****) *** drone ********* ***** *** ********, ***** allows ** ** ****** **** ******** and ********** ************ (** ***** ********* is *** ********** ** *** **, unlike ***** *******).
*********** *** *** ******* ******** *** this ******.
**********
*********** *** ******* ** **** ** two ****** ** ******** ** ********,**** *********** ***** *******, **** * "******" where **** ******* ** *** ******** sensors ** **** ******, ** **********'* *** **** ** * **** interview:
Two ** ********** ********* ****** ** *** ******* *****, they wanted to do something enterpreunal. So they ******* *********** ** **** in Virginia, US. ... It was a garage business, they **** ***** ********-***** *******. So much like today you go to the beach, you hear that annoying sound overhead, you look up andyou see drones. So they're trying to do computerised version of that where you have highly sensitive microphones, they try to tune in to their buzzing sound. And then the software at the back end separates between that and maybe sound of crickets or jackhammers, or something else. [emphasis added]
* **** *****, ***********'**** **** ************ *** **** (**** ****** ** CFO) ** ***** *** ******* ****** on *** ********** ***** ********. ****** explained *** ******** ** ****** ****** on *** *** *** ** *** lack ** **/** *********** *** *** being **** ***** ***** ******** **** NASDAQ ** *** ****, ** *** Australian ******** *** * ********** ** "fostering *****-***** **********," ********* ** ***.
*** ******* *** *** *******, ** Sydney *** ********, *** *** ** was ***** ** ******, ** *** company, ********* *** ** ****** *** incentives *** ********** ************* ****** ** the **, ******** **** ****** *********:
Another ****** *** ******** *** ******* ** ********* *** *** *** **********. “Unlike anywhere else in the world, here we get 43 cents back on every dollar spent on R&D in cash. This year we’ll claim more than $2 million on our expenditure. Next year will be even bigger,” he says.
The ******* ** *** ****** ** ********* ** “** ***** **** ** *** **”, but there’s less competition for it, Vornik says. “We don’t have Tesla, Amazon and SpaceX. Here, we’re a cool kid on the block, but in the US, there are a lot more cool kids.” [emphasis added]
Engineering *****, **%+ ** ******
*** ******* *** *** *********, **** more **** ** ** *********** (*.*., ~80% ** *** *********), ********* ** the*******'* ******** **** ********. ** ** ******** *** ********* to **** **** * **** ************* of *********. *** ******* ***** ******** DroneShield ** ***** ********* ** *** drone/defense ********:
** *** *** ******, ** ****, the ******* **** ** **%, *** by ****, *********** ******* ** **** "120-150 *****", ** ** ********* ****** **********:
**************, *** *******'* ***** ** ************* in ******, ** **** ** *** less **** ** ********* ** *** US, **************'* ******* **** **** ****.
$195+ ******* ******* ** ****, **** ****** *****
** ****, *** ******* ****** ********** after ** ******* *** ******* ** a ****** *$**.* (~$**) *******, *** now ** **** ** **** *$***-*** (~$200-$320) ******* ** ****. *** *-*** increase ** ******* ** ** ********* goal, *******, *** ******* ****** *** drone ******* ********* *** ********* ************* since *** ***** ** *** ******-******* war.
************, *** ******* **** ** ******** its **** ******* *** ******** *&* ratio ** **% ** *** **** timeframe. *********** *** ******** *** ******** products, *** ** ****, *** ******* introduced * **** ***** *** *** hardware ******** (********* ******* ** *** company's ********; *** ********). ***** *** introduction, *** **** ******* ***** *** been ****** *******, ******** *.*% ** 2023.
*** ******* *** *** ********* ** the ***** ******* ******** *&* *** SaaS *******. ** ****, ********, ***** accounted *** ** ***** **%. ** general, ********* ***** ****** ********* ******* over ***-**** ***, ** ** ****** more **************.
Stock ***********
*******, ***********'* ***** ** ** ***%+, and *** ******* ****** ************** ** ~A$410 ******* (~$*** *******), ** ***** below:
Customer *************
***** * ** ******** ** ******* is * ******** **** *** *** company, **% ** *** ******* ** 2023 **** **** *** ********* ********* the ** **********, ***** ****** ******** concentration ********. ***** *** ********* ** one ******** ******* ***** ** **** customer ******* ** **** ****** ** renewing *** **** ************, ******* ** a **** ** *** *******'* *******.
********* ** ***********'* ************* (*,*), *** *$** ******* ******** ** expected ** ** **** ** **** in ****, ** **** ** **** of *** *$*.* ********. **** **** the ****** ******** ******** "*****-**** ********", as **************** ** *** ***** *******, *** ** ******* ** ** seen *** **** (** ********) **** be ********** ** **** ******* *** onwards.
*** *******, ******** ***** *************, ********* one *************** *** ******, ******** **** *** $** ******* contract *** **** ***, *******, **** was *** **** ** **** **** contract ** ****** **************** *********** ********.
Focus ** *******, "***** *********** *** ******" ** ***** *****
*** ******* **** **** **% ** its ******* ***** **** *******, ***** will ****** *** *****, *******, ***** is * "***** *********** *** ******" in ***** *****:
*****, **** **% ** ******** ** derived **** *******
*******, ************ ********* *** ****** ******** will ******** ** ** *** *** focus, ******* ***** ** *major *********** *** ****** into civilian airports, critical infrastructure, prisons, stadiums and corporates [emphasis theirs]
***** ***** ** * ******* ******** in ***** ******* ********* ** *** US, ***** *******, * *** **** of *** *******'* ********, ** ***** heavily ********** ** *** ** **********, with **** * *** ************ ****** authorized ** *** ******.
**************, ~**% ** *** *******'* ******** is ************ ** *** ** *** Australia - **% *** **%, ************. Other **** ****, *** ******* ****** a ******** ** ~** ********* ***** it ***** ******* *** *******.
Products
***** ****, **** *** ******* *** focusing ** ******** ***** *********, *********** has ************* *********** ******* ************ *** ****** **** ***** ********* (optical, ******* **-*****, *****-*****) *** ***** jamming ******* (********, *****, *** *******-*******).
Handheld *******
*********** ****** ***** ********* ****** ** hand-held ******* *******, ***************** ********,******** ***, *********** ***. ***** *******-******** ******* ***** ********* in *****, *** ****, ******, ****, etc., ** *** ***** ***** **********:
*********** *** *** ***** ** *** request *** ******* *** **** *** publicly ******** **** ************** ** *** drone ******* *******, ********* ******* ****, FoV, ***.
******** ***** ***********'* **** ******** ******, *******, unlike *** ************** ******, ******** *** is * ******* **-***** ***** ********* device **** ** ******* ************. **** battery-powered ***** ****** **** ~*.* *** (780gr) *** *** ****** ****** ** far ** *.** ***** (* **) in * *** ** ***********.
Fixed ************ ****
********, ********* ** **********'* *****, **** ****** *********** **:
(*) ****** ****** *** ** ** 8km **** ***** *** ******* ** detection **** ** ** ** *** with *** *******'* ***** *********
(*) ******** ****** *** ** ** 1km **** ******** ******* (** ******* range) *** *** ** ** **** in *** ** *****
(*) *** ****** **** *********** *** up ** *** ****
*** ******* ***** ************** ***** ****** ****** *** ***********, ********* *** *******-******* *** *******, DroneOpt * *** ******** *, ** well ** * ******* *****-**** ******** 1 *****:
Vehicle-Mounted *****
***** **** ******** *** ***** ************ devices, *********** **** ****** *** *******-******* units,***********-***************-* ***:
********* ** *** *************, ***** ***** can **** ********* *** ******* ************ or **** ********* ************. ** *** former ****,***********-* ********** "> * **" (~*.** *****) detection ***** *** * "> ****" (~985ft) **********/******* *****.
DroneSentry-C2 ********
** ******* *** *** *********** *******, the ******* ****** ********** ********,***********-**, ***** ****** *** ******** *** engaging ******, ********* ********, ***. ************, the ******* *** ********* ***-*********** ******* through ****************** *******.
*** ***** ***** ******** **** ** the ******** ********* *** ************:
***********-** *** ** ******** **-**** *** in *** *****, ** *** ******* describes ** *** *******.
Pricing ***********
*********** **** *** ******** *** ******* publicly, *** *** ******* *** *** reply ** *** ******* *** *******. Moreover, **** ***** *** **** *** contracts **** ********** ******** **** ***** show *** *******'* *******.
*** **** ******* **** ******** ********* (through *** *********) ** *** ***********'* radar, *********, *** * **** ******* version ** *** ***** ************ ****, DroneSentinel, - ~$**,*** *** ~$**,***, ************.