EOS Posts Revenue Surge Amid Strategic Moves

Electro Optic Systems Holdings Limited (AU:EOS) has released an update.

Electro Optic Systems Holdings Limited reported a significant revenue increase to $77.3m in Q1 2024, up from $34.0m in the same quarter last year, despite a drop in cash receipts from customers to $52.1m. The company’s cash balance modestly grew to $72.4m, inclusive of a successful $35m institutional placement. Key activities included the sale of Slinger Counter-Drone Systems, debt repayment, and securing new contracts to diversify revenue streams.

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