Electro Optic Systems (ASX:EOS) announced that it achieved a cash balance of $42.4M on 30 June 2023.

The company also received a $17.2M tax refund after the end of the quarter which has provided a cash security deposit of $16.6M to establish a $22.2M bank guarantee.

It's also looking forward to getting benefits from the termination of the SpaceLink venture and a $25M cost reduction in Q4 2022.

EOS recently announced contracts to supply Ukraine with a total value of $181M, as well as ones with the Royal Australian Navy worth up to $202M and a Western European Government worth $51M.