DroneShield quarterly revenue jumps 121% to AUD $74.1m
DroneShield reported quarterly revenue of AUD $74.1 million for the three months to 31 March, up 121% from the same period a year earlier.
Customer cash receipts rose 360% to AUD $77.4 million from AUD $16.8 million in the prior corresponding quarter. Software-as-a-service revenue increased 205% to AUD $5.1 million from AUD $1.7 million.
Net operating cash flow reached AUD $24.1 million, compared with an outflow of AUD $17.9 million a year earlier. The quarter was its fourth consecutive period of positive net operating cash flow. Cash, cash equivalents and short-term deposits stood at AUD $222.8 million at the end of March.
Quarterly revenue exceeded the AUD $62.6 million outlined in an earlier trading update, reflecting the timing of deliveries made late in March. DroneShield described the period as its second-highest revenue quarter on record, behind the AUD $92.9 million posted in the third quarter of 2025.
Committed revenue for the 2026 financial year had reached AUD $154.8 million as at 20 April, compared with AUD $94.4 million at the same point a year earlier. That included an AUD $59 million increase since the start of 2026, driven by a steady flow of repeat and new end-user orders, all below its AUD $20 million materiality threshold for separate disclosure.
Software mix
SaaS revenue accounted for 6.9% of total revenue in the quarter. By comparison, SaaS contributed AUD $11.6 million for the full 2025 financial year, representing 5.4% of revenue.
DroneShield attributed the growth to a larger number of SaaS-enabled devices already deployed in the field. It added that all new products carry one or more software subscriptions, with quarterly software updates designed to reflect changes in drone technology and emerging threats.
The results come amid broader operational changes. During and after the quarter, DroneShield announced its selection for the LAND 156 LoE 3 panel, disclosed AUD $21.7 million in western military contracts, entered a partnership with Origin Robotics for kinetic interceptors, and expanded radar interoperability with Robin Radar Systems.
It also announced transitions in the Chief Executive Officer and Chairman roles, along with the establishment of a European headquarters and manufacturing presence. Those moves suggest a broader push to expand its operating footprint outside Australia as defence and security customers increase spending on systems to detect and counter uncrewed aircraft.
Cash position
DroneShield ended the quarter with no debt. Its cash balance was up by AUD $21.7 million as at 31 December 2025, leaving room to invest in staff and technology and to pursue potential strategic acquisitions.
For investors, the cash receipts figure may be significant because it shows how much reported demand converted into cash during the period. At AUD $77.4 million, it was the highest quarterly customer cash receipts figure in DroneShield's history.
The quarterly filing also disclosed payments to related parties and their associates. Board fees paid to non-executive directors and salary paid to the Chief Executive Officer totalled AUD $362,375, while Macquarie Technology, identified as a related party of a director, received AUD $95,911 for commercial services.
DroneShield operates in a market shaped by rising military and government demand for systems that can identify, track and disrupt drones and other autonomous threats. Its customer base includes military organisations, intelligence agencies, governments, law enforcement bodies, critical infrastructure operators and airports.
The latest quarter suggests the company entered 2026 with a larger contracted revenue base and stronger cash generation than a year earlier. Cash, cash equivalents, and short-term deposits stood at AUD $222.8 million as of 31 March.