Australia's DroneShield pares early gains, withdraws $5 million contract announcement

DroneShield

10/11/2025 02:34

Updates with latest share moves and withdrawal of announcement

** Shares of Australia's DroneShield DRO.AX up 1.9% at A$3.275

** Earlier in the session, the defence technology company's stock rose as much as 10.3% to A$3.550, its biggest intraday pct gain since October 21

** DroneShield withdraws announcement of three standalone contracts totalling A$7.6 million ($4.94 million)

** Says November contracts do not represent new orders and were inadvertently marked as new contracts

** Says contracts were orders that the customer reissued due to regulatory updates

** More than 16.9 million shares change hands, vs the 30-day average of 22.1 million shares

** Stock up 330% this year, including the day's move

($1 = 1.5389 Australian dollars)

 (Reporting by Rajasik Mukherjee and Sameer Manekar in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))