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Archive for February, 2024

DroneShield Releases Record 2023 Annual Results, Surging to Profitability

Thursday, February 29th, 2024

DroneShield Ltd (ASX:DRO) (“DroneShield” or the “Company”) is pleased to announce the release of record full year FY23 results.

The highlights include:

• FY23: record contracts and rapidly growing cash receipts

? FY23 $73.5 million cash receipts, up 5x vs. FY22

? FY23 $55.1 million revenue, up 3x vs. FY22 

? 80% of revenues are from repeat customers

? The revenue vs. cash receipt difference mostly due to advanced payments on product subscriptions (SaaS), warranties, as well as grants received

? Largest geographical segment revenue contributions are US at 68% and Australia at 23%
 

• FY23 is first profitable year, with $9.3 million profit after tax

• Shareprice up 64% over 2023 (vs 9% for ASX300)
 

• Cash balance of $57.9 million as of 31 Dec 2023, no debt or convertibles

? Committed supply chain payments of $30 million

• $30 million contracted backlog and pipeline of over $510 million*
 

• Substantially completed expansion of the team to enable build, delivery and support of materially larger orders

? Completed move to a larger Sydney facility (3x current floor space) in January, plus supply chain partners been rapidly expanding

? No material cost to DRO to move, due to light capex model (heavy machinery work all outsourced) and landlord fitout incentive payments

? Positions the company for $300-400 million annual production capacity

? 115 team members including over 90 engineers
 

• Favourable environment for DroneShield with rapidly rising counter-drone, defence and security spending globally

? The Ukraine conflict continues to highlight the use of drones on the battlefield, which will continue driving increasing C-UAS orders even after the eventual ceasefire

? Drones increasingly used across global conflicts, including Hamas terror attack on Israel

Full Year Results Presentation can be viewed here:

Annual Report can be viewed here:

There is no assurance that any of the Company’s sales opportunities will result in sales.

Rheinmetall to Supply the Bundeswehr with Skyranger 30 on Boxer Platform – Order Worth Almost €600 Million

Thursday, February 29th, 2024

The Bundeswehr has tasked Rheinmetall with another important air defence project. The Düsseldorf-based Group will soon be supplying the German armed forces with the Skyranger 30 mobile air defence system. Worth €595 million (including value added tax), the contract encompasses delivery of a prototype and another 18 series production vehicles. In addition, an option exists for a further 30 systems. The prototype is to be delivered by the end of 2024.

Just last month, the Bundeswehr entrusted Rheinmetall and its partner contractors with developing a system for short- and very short-range air defence known as the NNbS, in which the Skyranger 30 will constitute a key component.

An essential part of the NNbS, the Skyranger 30 is embedded in the German government’s European Sky Shield Initiative, in which Germany, acting within a NATO context, has assumed the role of lead nation in ground-based air defence in Europe.

The Skyranger 30 bridges an acute existing capability gap in mobile air defence. The system constitutes an optimum combination of mobility, protection, flexibility and precision, making it a match for new challenges in the short- and very short-range threat spectrum. A hybrid solution, the system’s turret combines the highly effective 30mm x 173 KCE revolver gun, surface-to-air missiles and the necessary sensor suite, all on a single platform. The Skyranger 30 systems earmarked for Germany will be armed with Stinger missiles. Depending on customer requirements, the system can be fitted with various modern guided missiles such as the Mistral, Stinger or special C-UAS missiles.

A meticulously thought-out combination of different effectors, excellent mobility, a large elevation span and state-of-the-art sensors enable autonomous as well as networked operations. Thanks to Rheinmetall’s programmable airburst ammunition, the system is especially effective against drones. The compact turret is integrated into an 8×8 Boxer wheeled armoured vehicle.

The first customer is Austria, which recently ordered thirty-six Skyranger 30 systems. Other NATO and/or EU member states have also expressed an interest in the system or are already in the process of procuring it. In December 2023, Hungary tasked Rheinmetall with developing a concept for a Skyranger 30 turret for the future air defence variant of the Lynx KF41 tracked armoured vehicle. Lithuania is also studying the Boxer-mounted Skyranger 30, while Denmark plans to procure the Skyranger 30 solution in combination with another wheeled armoured vehicle.

As recently as December 2023, a functional demonstrator version of the Skyranger 30 underwent successful live fire field trials at the Group’s proving ground in Ochsenboden, Switzerland, proving itself in stationary mode and on the move. The functional demonstrator resulted in important new findings that will make fabrication and integration of the German verification model faster and less risk prone.

Special Operations Warrior Foundation Announces Scholarship Funded by Johnny Mac Soldiers Fund in Honor of John Magness

Thursday, February 29th, 2024

Tampa, FL, Feb. 29 – The Special Operations Warrior Foundation (SOWF) is proud to announce a $250,000 scholarship grant for the 2023/2024 academic year, generously funded by the Johnny Mac Soldiers Fund (JMSF) in memory of John Magness, a revered patriot, and distinguished Special Operations helicopter pilot.

John Magness, whose legacy of bravery and dedication continues to inspire, played a pivotal role in critical military operations, including leading a troop of attack helicopters during the Persian Gulf War and participating in the historic Battle of the Black Sea in Mogadishu, Somalia, as part of the 160th Special Operations Aviation Regiment.

Tragically, John Magness passed away on February 5, 2023, after summiting Mount Aconcagua, undertaking this formidable challenge to raise awareness and funds for the Johnny Mac Soldiers Fund, a cause he passionately supported. As an Ambassador for Special Operations Warrior Foundation, John’s commitment to the children of our nation’s fallen heroes was unwavering.

The Johnny Mac Soldiers Fund, in collaboration with SOWF, aims to honor John’s legacy by supporting the educational aspirations of students who, despite facing significant challenges, have demonstrated a remarkable commitment to their academic and personal growth.

Both JMSF and SOWF are honored to contribute to the educational journey of future leaders. It reflects a shared commitment to nurturing the dreams of our fallen SOF Warriors’ children and empowering them to achieve their fullest potential.

The Special Operations Warrior Foundation and the Johnny Mac Soldiers Fund encourage the scholarship recipients, and all students, to pursue excellence in their endeavors and to remember the strength and support of the community that stands behind them.

We look forward to witnessing the remarkable achievements our scholarship recipients will accomplish and are confident that they will continue to honor the legacy of heroes like John Magness.

Smith & Wesson Introduces New M&P 15 Sport III Rifle

Thursday, February 29th, 2024

MARYVILLE, TN., (2/27/2024) – Smith & Wesson Brands, Inc. (NASDAQ Global Select: SWBI), a leader in firearm manufacturing and design, announces today the release of the new M&P15 Sport III rifle. 

Designed to perform under various conditions, the Smith & Wesson Sport Series is as versatile as it is reliable. Building on the proven Sport II platform, the next iteration comes equipped with enhancements to increase performance while being offered at a lower price. The Sport III is a gas-operated semi-auto MSR chambered in 5.56 NATO/223 REM, and is offered in 30+1 and 10+1 capacities. Upgrades to this platform include a 16-inch Armornite® coated barrel with a threaded muzzle, 5R rifling, and a 1:8-inch twist that allows for a wider variety of ammo to be used. The barrel, housed in a free-floating 15-inch M-LOK® handguard with a full-length Picatinny-style rail, offers more options to accessorize than previous generations. The Sport III utilizes a mid-length gas system to help mitigate felt recoil when shooting and it also ships with a 6-position adjustable stock, polymer grip, bolt forward assist, and chromed firing pin.

If you’re looking for your first rifle, or just want to expand the collection, the M&P15 Sport III is a reliable platform for a great price. The new M&P15 Sport III rifle has an MSRP of $799 and is available now at authorized dealers.

For more information on the M&P15 Sport III, visit www.smith-wesson.com.

Enforce Tac 24 – Vertx Crucible Mid Layer Hoody

Thursday, February 29th, 2024

The new Crucible Mid Layer Hoodie from Vertx is a highly breathable insulation layer 60G PrimaLoft Gold Insulation and Active Vent technology.

Offered in Tobacco and It’s Almost Black in sizes Small- XXLarge.

Enforce Tac 24 – Fantosme Armor Adaptable Chest Rig

Thursday, February 29th, 2024

French company Fantosme unveiled their latest chest rig which is so new it doesn’t even have a name yet. Hot off the sewing machine from designer Flimmuur Tactical, this rig quickly accepts armor plate pockets.

There are three internal magazine pockets and the front and wings feature laser cut PALS slots. As an aside, the 40mm placard features the same retention technology used in Flimmuur’s MagPi inserts.

While the front armor plate bags goes behind the ammo pouches, the rear plate bag attaches externally and is compatible with Crye Precision zip-on panels.

It attaches via Velcro wrapped around the yoke of the harness. You can also see the sliding harness feature for improved fitment.

Enforce Tac 24 – Original SWAT x Handsfree Labs

Thursday, February 29th, 2024

Altama sister company Original SWAT recently introduced a collaboration with Handsfree Labs which changes how you don your boots.

This graphic does a very nice job of showing you how you put them on. Just step straight down into the boot and it’s on and secure. No more side zips or laced in zips and no need to adjust the laces. I tried them and it works.

Enforce Tac 24 – OTTE Gear Down Range Combat Pant

Thursday, February 29th, 2024

OTTE Gear launched their new Down Range Pant during SHOT Show.

Made from a fabric with some mechanical stretch, this combat pant incorporates reinforced knees and removable knee pads.

Additionally, there’s a low profile bungee system to tighten the knee pad. Below it is a zippered calf pocket.

Finally, the thigh pockets have slots behind them which will accept magazines.

Coming soon from ottegear.com.