Australia's Elsight gains on order for drone connectivity platform

Elsight

26/06/2023 05:33

** Shares of Elsight Ltd  ELS.AX  jump as much as 7.4% to
A$0.29, their highest level since June 8
    ** Co receives a repeat order for drone connectivity
platform Halo from U.S.-based drone manufacturer and services
provider Censys Technologies Corp
    ** The commercial value of the order for one year is about
$120,000
    ** This order supports co's focus on growing recurring
revenue as the order consists of both upfront hardware revenue
as well as recurring Elsight cloud services revenues, says ELS
    ** Co expects further orders from Censys as they expand
their drone network
    ** As of last close, stock down ~20.6% so far this year
    


 (Reporting by Upasana Singh in Bengaluru)
 ((Upasana.Singh@thomsonreuters.com))