Drone detection and countermeasures company DroneShield experienced its first break even quarter in the final three months of FY2020 as it continues to penetrate civilian aviation and defence markets.
Cash inflows were $2.1 million for the quarter leaving the company with an cash position improved cash by $500,000,a significant improvement on the $1.2 million net cash outflow in the quarter to March 31.
DroneShield reported its order book was now $3.4 million, with the company pursuing a sales pipeline of $85 million.
During the latest quarter it ramped up deliveries of the DroneSentry detection system for the US Department of Defence.
The company, which recently opened a factory in Sydney,in FY20 also won a four-year framework agreement to supply European Union police forces with the DroneGun Tactical anti-drone weapon (pictured).
It continues to work to execute a formal contract to satisfy a $70 million plus Middle Eastern bid.
And it made its first deliveries to New Zealand during the quarter.
Picture: DroneShield/DroneGun Tactical deployed by the French Army
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