DRO FINANCIAL STATEMENTS

Droneshield Ltd — balance sheet, income statement and cash flow trends

DRODroneshield Ltd

🇦🇺 Australia · AU · Industrials · Aerospace & Defense

Value it Duel

Income Statement

Quarterly progression — trailing-twelve-month values

RevenueNet Income

Profit Funnel

Q2 2025 · TTM

Percentages are relative to revenue.

Key Figures

YoY change

Revenue216.8 M A$+300.8%

Gross Profit111.3 M A$+185.7%

Operating Income-3.8 M A$-248.4%

EBITDA5.4 M A$+23.6%

Net Income3.5 M A$-62.3%

Peer Comparison· Aerospace & Defense

Company	Rev. Growth	Gross Margin	EBITDA Margin	Net Margin
DRO	272.4%	51.3%	2.5%	1.6%
RR	12.2%	27.8%	26.9%	27.5%
RDW	33.6%	9.2%	-57.8%	-80.9%
VVX	9.0%	8.5%	6.5%	1.9%
CDRE	13.5%	40.2%	13.7%	5.8%
ATRO	8.6%	30.7%	9.1%	5.1%
Industry median	12.2%	24.2%	13.1%	6.6%

Balance Sheet

Quarterly period-end values

Total AssetsTotal LiabilitiesEquity

Capital Structure

Q2 2025

Equity336.6 M A$82%
Current Liabilities58 M A$14%
Long-term Liabilities17.6 M A$4%

Key Figures

YoY change

Total Assets412.2 M A$+324.7%

Total Liabilities75.6 M A$+235.3%

Total Equity336.6 M A$+351.8%

Cash & ST Investments209.5 M A$+269.0%

Total Debt14.3 M A$+443.0%

Net Debt-89.1 M A$—

Peer Comparison· Aerospace & Defense

Company	Current Ratio	Debt/Equity	NetDebt/EBITDA	Equity/Assets
DRO	5.78	4.2%	-36.35	81.7%
RR	1.11	156.7%	-0.39	7.2%
RDW	1.75	19.2%	-0.30	72.0%
VVX	1.25	97.5%	2.82	34.6%
CDRE	2.26	115.7%	4.00	38.2%
ATRO	2.97	234.4%	4.57	21.6%
Industry median	1.75	48.4%	0.88	44.2%

Cash Flow Statement

Quarterly progression — trailing-twelve-month values

Operating Cash FlowCapital ExpendituresFree Cash Flow

Cash Flow Bridge

Q2 2025 · TTM

Key Figures

YoY change

Operating Cash Flow24.1 M A$+130.9%

Capital Expenditures14.8 M A$+755.4%

Free Cash Flow4.5 M A$-47.8%

Dividends Paid——

Peer Comparison· Aerospace & Defense

Company	CF Margin	FCF Margin	CapEx Ratio	CF/Net Income
DRO	11.1%	2.1%	6.8%	683.5%
RR	21.1%	18.2%	2.9%	76.8%
RDW	-37.7%	-43.4%	5.7%	46.6%
VVX	3.1%	2.9%	0.2%	166.3%
CDRE	10.8%	9.5%	1.3%	186.7%
ATRO	7.4%	2.8%	4.6%	144.4%
Industry median	11.1%	5.8%	3.8%	110.3%

Amounts are in the company’s reporting currency. Peer comparison tables use ratio-based metrics so currency differences do not distort the picture.

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Data on this page refreshes once per day. Price data as of Jul 6, 26. This content is for informational purposes only and is not investment advice.