DroneShield FY 2025 earnings preview

When will DroneShield report its latest earnings?

DroneShield, the Australian leader in AI-powered counter-drone (C-UAS) and electronic warfare systems that protect military forces, critical infrastructure, airports, prisons, and major events from rogue drone threats, is scheduled to release its audited full-year (FY) 2025 results on Monday, 23 February 2026.

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Company backdrop

DroneShield has been on an absolute tear. In the first half (H1) of FY 2025, ending June 2025, revenue exploded 210% to A$72.3 million, and the company swung to a net profit after tax (NPAT) of A$2.1 million from a A$4.8 million loss the year before.

The company's fourth-quarter (Q4) trading update in late January then capped off the year in style. Full year revenue hit a record A$216.5 million, up 277% on FY 2024. The Q4 alone delivered $51.3 million, a 94% increase year-on-year (YoY), with customer cash receipts of A$63.5 million and positive operating cash flow of A$7.7 million in the quarter (A$23.4 million for the full year).

DroneShield heads into FY 2026 with A$95.9 million already committed, the strongest start to any year in its history.

FY 2026 earnings expectations

Monday’s upcoming release is essentially the audited version of the strong unaudited numbers we already saw in January, so the headline revenue and cash flow figures should line up closely.

What the market will really listen for is management’s tone around the A$95.9 million secured for FY 2026, progress converting the multi-billion dollar sales pipeline, software-as-a-service (SaaS) momentum (already growing 475% in the Q4), gross margins, and early commentary on H1 2026 trading. With fixed costs now largely scaled, the focus is squarely on operating leverage and consistent profitability.

Summary of key financials – analyst estimates:

• Revenue: approximately $216.5 million (up from $57.53 million in FY 2024)
• Net profit after tax: $29.50 million (up from -$1.32 million in FY 2024)
• Dividend: none expected (DroneShield has never paid a dividend and is focused on growth and scaling).

 DroneShield revenue trend chart

Recent challenges, insider activity, and executive update

DroneShield endured a turbulent end to 2025. In early November 2025, chief executive officer (CEO) Oleg Vornik sold his full holding of around 14.8 million performance-granted shares over several days, for approximately $49 million – $50 million. Other directors and insiders followed, pushing total executive sales to about $70 million in a short period of time. The wave of selling eroded investor confidence and fuelled a brutal sell-off.

The situation got even messier in mid-November when United States (US) CEO Matt McCrann suddenly resigned. The announcement gave no explanation, which only added fuel to the fire. It raised serious questions about transparency and leadership stability right when the company was at a critical point for growth.

Facing significant backlash, the company went into damage control. They introduced mandatory minimum shareholding rules for directors and senior executives, trying to realign interests and earn back trust. Vornik later explained his own massive sell-off, putting it down to a hefty tax bill, an 'out-of-control' home renovation, and a general need to secure his financial future.

Since then, DroneShield has made moves to steady the ship. On 10 February 2026, they brought on Michael Powell as the new chief operating officer (COO) to strengthen operational leadership. Powell is a heavy hitter with over 25 years of experience in defence and aerospace, having held major roles at Thales Australia and Knorr-Bremse.

His background covers everything from large-scale manufacturing to complex supply chains. CEO Oleg Vornik called Powell's expertise 'instrumental' for scaling the business with discipline, especially as global demand for counter-drone tech continues to surge.

DroneShield technical analysis

Having soared over 750% in 2025 from a low of $0.58 to a high of $6.71 in early October, DroneShield’s share price then plunged approximately 75% to a low of $1.62 in late November following a wave of insider selling and leadership uncertainty.

Since then, the stock staged a recovery, reaching as high as $4.81 in mid-January, before pulling back to be trading around the 200-day moving average at $3.15, leaving a reasonably neutral backdrop.

On the downside, support is viewed in the $2.90 - $2.80 region where buyers are expected to be operating. A sustained break below here would warn of a deeper decline towards $2.00.

On the topside, initial resistance is viewed at $4.10 (from the high of July 2025), before a layer of stronger resistance at $4.40 (from the high of August 2025), and again at $4.80 from the high last month.

DroneShield daily candlestick chart

• _{Source: TradingView. The figures stated are as of 18 February 2026. Past performance is not a reliable indicator of future performance. This report does not contain and is not to be taken as containing any financial product advice or financial product recommendation.}