Why is the DroneShield share price sinking 8% today?
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The DroneShield Ltd (ASX: DRO) share price is catching the eye on Friday.
In early trade, the counterdrone technology company’s shares are down 8% to 86.5 cents.
Why is the DroneShield share price tumbling?
The catalyst for today’s selling has been the release of the company’s third quarter update.
According to the release, third quarter cash receipts were up 18% on the prior corresponding period to $9.1 million. This represents a record performance for its third quarter.
This meant that its cash receipts year to date are now $30.5 million. This is up 20% on the same period in FY 2023, which included $2.4 million in R&D tax incentive.
Things weren’t quite as positive on paper for revenue. Year to date,…
