Elsight Ltd. ( (AU:ELS) ) has provided an announcement.
Elsight Ltd. has secured a significant follow-on agreement worth US$4.28 million with a European defense drone OEM, marking a substantial increase in their engagement. This contract, which follows an initial order, underscores the technological superiority of Elsight’s Halo platform and aligns with the growing defense budgets in Europe due to geopolitical tensions. The agreement is expected to enhance Elsight’s market position and revenue expectations for 2025, as it supports the broader deployment of their solutions in military operations.
More about Elsight Ltd.
Elsight Ltd. is a company specializing in carrier-agnostic connectivity solutions, with a strategic focus on the defense sector. The company provides advanced communication systems, such as the Halo platform, which are integral to unmanned aerial systems and autonomous military solutions. Elsight is well-positioned to capitalize on increasing defense budgets and the demand for reliable communication technologies in Europe.
YTD Price Performance: -5.41%
Average Trading Volume: 40,715
Technical Sentiment Signal: Strong Buy
Current Market Cap: A$63.36M
See more data about ELS stock on TipRanks’ Stock Analysis page.