Electo Optic System secures US$16M Middle East contract
Key points
- Electro Optic Systems secured a US$16 million counter-drone defence order from an unnamed Middle Eastern nation.
- The contract adds roughly $24 million in revenue and helped lift the company's share price to $7.52.
- The company aims to expand its regional security footprint and position the initial deployment for future follow-on contracts.
Electro Optic Systems (ASX:EOS) secured a US$16 million counter-drone defence contract with a Middle Eastern nation.
The transaction marks the first sale by the company or its MARSS unit to this specific military customer.
"It is pleasing to see the MARSS business continue to be recognised for its leading counter-drone capabilities," said EOS CEO Dr. Andreas Schwer.
The company stated that the order includes sensors and command systems scheduled for delivery over the next 12 months.
Following the announcement, the Electro Optic Systems share price was up at $7.47.
The award follows a £370 million counter-drone contract the business executed in October to protect Kuwait.
EOS stated that it expects full-year 2026 revenue to reach between $360 million and $400 million.
