External broker reports(aggregated public sources), Morrison Securities

Morrison Securities

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External broker reports(aggregated public sources)

Equity Bottom-Up

<ul><li>DroneShield (DRO) delivered a largely pre-released result for CY24, with a 6% YoY revenue growth to $57.5 million, but faced challenges in scaling operations.</li><li>EBITDA of -$8.6 million missed our estimate (-$8.0 million) due to higher operating expenses.</li><li>The better-than-expected net loss of -$1.3 million was due to a $5.5 million income tax benefit, leading to a more favourable outcome compared to our previous projection of -$4.8 million. </li></ul><p><em>Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.</em></p>

DroneShield (DRO) delivered a largely pre-released result for CY24, with a 6% YoY revenue growth to $57.5 million, but faced challenges in scaling operations.EBITDA of -$8.6 million missed our estimate (-$8.0 million) due to higher operating expenses.The better-than-expected net loss of -$1.3 million was due to a $5.5 million income tax benefit, leading to a more favourable outcome compared to our previous projection of -$4.8 million. Content is external broker report sourced from online content aggregator through publicly available sources and is displayed below for general informational purposes only. Refer full disclaimer below.

DRO Annual Report 2024: Scaling Innovation and Global Expansion in Counter-Drone Technology

DroneShield Ltd

DRO Annual Report 2024: Scaling Innovation and Global Expansion in Counter-Drone Technology