XTEK Receives $26.9m drone order from Australian DoD
- XTEK (XTE) receives a $26.9 million purchase order from the Australian Department of Defence for new military drones
- The company expects to deliver the order for the small unmanned aerial systems (SUAS) towards the end of its 2023 financial year
- The purchase takes the value of orders in hand for XTE K’s technology division to $35 million, with $47 million in revenue already recognised this financial year
- Meanwhile, with seven months still left of the financial year, XTE K says it is actively pursuing a “strong pipeline” of opportunities in its ballistic armour division
- Shares in XTE K are up 13.6 per cent to trade at 71 cents at 11:47 am AEDT
