DroneShield Limited (DRO) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Welcome to those joining the DroneShield investor call covering our 2025 annual results. I'm Oleg Vornik, the CEO and Managing Director of DroneShield, and joining me today are Carla Belenko, our Chief Financial Officer on my right, and Josh Bolo, our Head of Investor Relations on my left. Angus Bean, our Chief Product Officer, is unfortunately unable to join us today due to customer travel commitments overseas. We will aim to speak for approximately 15-20 minutes presenting the results followed by questions. Please submit your questions well in advance so we can start immediately with the questions following completion of the presentation. 2025 has seen a record revenue of about $260 million, about a Forex increase on the previous year. Importantly, it has been a profitable year for us of about $3.5 million profit, being also $33 million of underlying profit before tax, and importantly, having $15.9 million of net cash from operations. This reinforces our aim to have rapid growth as well as being profitable and operating cash flow positive moving forward. The pipeline has slightly increased from 2.1 to 2.3 billion in the last month since we presented the 4Q results and a lot of it was due to our increase in the Asia-Pacific pipeline specifically. The pipeline corresponds to about 295 deals. Great diversity of deals is how we have certainty of ongoing business where there's diversification across the stages of maturity, geography, products, customers, and other factors. Some of those deals are significant. There is about 18 deals over $30 million each, and our largest deal being about $750 million. Previously, we advertised this deal as about $800 million, but with being a European deal and the Australian dollar continuing to strengthen, the Australian dollar value o...