DroneShield Limited (DRO) Q4 2025 Earnings Call

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WEBVTT 00:00:01.043 -- 00:00:06.529 Welcome to those joining the DroneShield investor call covering our 2025 annual 00:00:06.529 -- 00:00:11.555 results. I'm Oleg Vornik, the CEO and Managing Director of DroneShield, and 00:00:11.555 -- 00:00:17.281 joining me today are Carla Belenko, our Chief Financial Officer on my right, 00:00:17.281 -- 00:00:21.225 and Josh Bolo, our Head of Investor Relations on my left. 00:00:21.225 -- 00:00:25.590 Angus Bean, our Chief Product Officer, is unfortunately unable to join us today due to 00:00:25.590 -- 00:00:29.022 customer travel commitments overseas. 00:00:29.022 -- 00:00:34.029 We will aim to speak for approximately 15-20 minutes presenting the results 00:00:34.029 -- 00:00:36.393 followed by questions. 00:00:36.393 -- 00:00:41.440 Please submit your questions well in advance so we can start immediately with 00:00:41.440 -- 00:00:44.164 the questions following completion of the presentation. 00:00:44.164 -- 00:00:46.164 2025 00:00:51.475 -- 00:00:57.276 has seen a record revenue of about $260 million, about a 00:00:57.276 -- 00:01:01.803 Forex increase on the previous year. 00:01:01.803 -- 00:01:08.631 Importantly, it has been a profitable year for us of about $3.5 million profit, 00:01:08.714 -- 00:01:14.524 being also $33 million of underlying profit before tax, and importantly, 00:01:14.524 -- 00:01:18.854 having $15.9 million of net cash from operations. 00:01:18.854 -- 00:01:23.941 This reinforces our aim to have rapid growth as well as 00:01:23.941 -- 00:01:29.589 being profitable and operating cash flow positive moving forward. 00:01:29.589 -- 00:01:34.436 The pipeline has slightly increased from 2.1 to 2.3 billion in the last month since we 00:01:34.436 -- 00:01:36.939 presented the 4Q 00:01:36.939 -- 00:01:42.267 resu...