The Australian Department of Defence has made a $26.9 million purchase order for XTEK Limited’s new Small Unmanned Aerial Systems (SUAS).
Delivery of the new order is expected to be completed before the end of fiscal year 2023, with corresponding revenues to be recognised in the second half of the year.
Assuming no unforeseen delays occur, the backlog, combined with the $47 million expected recognised revenue for H1 FY2023, is expected to enable XTEK to exceed $82 million for the full year.
With seven months still to go in the financial year, the group said it continues to actively pursue a strong pipeline of many large-scale ballistic armour opportunities.
“Should we win even just a portion of the many large-scale ballistic armour opportunities we are currently pursuing around the world, then that could see the second half of FY23 become very exciting indeed,” said Scott Basham, XTEK’s chief executive officer.
“XTEK is very pleased to be able to continue to provide Defence with high-end SUAS technology, and this new order for a mixed fleet of advanced AeroVironment drones, will deliver significantly enhanced tactical reconnaissance and surveillance capabilities for Defence,” Basham said.
