"DroneShield Ltd. has had an outstanding last 12 months, which has been reflected in the share price," according to a Bell Porter research note.
DroneShield Ltd. is expected to deliver over AU$69 million in revenue for 2023, approximately 4x last year's result, noted Bell Potter analyst Daniel Laing.
The Australian company is likely to achieve this given its performance so far in 2023 and its robust backlog and sales pipeline, noted a Bell Potter report.
Further, the company's contracted order backlog and sales pipeline are both robust, noted a Bell Potter report.
Applications for investment in this Australian defense firm "greatly exceeded" expectation, which is positive, noted a Bell Potter report.
The Australian defense manufacturer "is now in a position to develop into a major global player," noted a Bell Potter report.