Market Alert: ASX200 at Critical Support – Reversal or Further Fall?
Elsight Limited (ASX: ELS) has signed a substantial follow-on supply agreement worth US$4.28 million (~AU$7.1 million) with a European-based defence drone OEM, with deliveries scheduled through July 2025. This comes on top of a previous US$300,000 order, bringing the total initial commitment to US$4.58 million (~AU$7.56 million). The deal follows a successful field integration of Elsight’s Halo connectivity solution, which demonstrated superior performance and prompted a scale-up to broader deployment.
This contract is separate from Elsight’s existing defence engagements and is expected to define long-term rollout plans during the next four months. The order surpasses twice Elsight’s 2024 revenue, prompting an upgrade in its 2025 revenue expectations. With defence spending across Europe rising amid geopolitical tensions, Elsight is strategically positioned to benefit from growing demand for autonomous and communication systems in military operations.
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