Electro Optic Systems expects to generate revenue between $210 million and $230 million for 2023.

The company, which had not previously provided revenue guidance for the year, has seen an increase in new business and contracts, pushing its revenues higher than expected.

A significant revenue will come from an existing multi-year contract with a large Middle Eastern customer, a new contract to supply terminals to the Royal Australian Navy, and the sale of Remote Weapon Systems in Europe.