DroneShield Ltd (ASX:DRO), an Australian company specializing in counterdrone products, has announced a significant increase in its production and operations. This development follows the completion of a capital raise in March, which has provided the company with AU$67 million worth of products currently under production. These products are expected to be completed in stages throughout the year 2023.
In terms of financial performance, DroneShield generated cash receipts of AU$15.7 million in 2022, and as of the current year, it has already received AU$13.9 million, with an additional AU$2 million expected from the R&D Tax Incentive in the third quarter of 2023. The company also has committed purchase orders totaling approximately AU$18 million, and it is actively pursuing large projects that could contribute to another record-breaking year. Overall, DroneShield's ramp-up in production and operations positions the company to meet growing market demand and capitalize on new opportunities in the counterdrone industry.
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