DroneShield Appoints Rebecca Lowde as CFO and Secures First RfRecon Order
Published on 09/11/2026 at 05:50 | Editorial boerse-global.de
DroneShield has moved on two fronts at once, naming Rebecca Lowde as its next chief financial officer and confirming the first order for its newly launched RfRecon signals-intelligence device. Lowde takes over from Carla Balanco on 2 November, ending a tenure in which Balanco supported the Australian counter-drone specialist for more than eight years.
Her résumé carries weight for a company that has said it will keep tapping capital markets to fund its expansion. Lowde spent three decades in finance and leadership roles, including stints at MYOB — owned by private-equity firm KKR — and at Afterpay, where she worked on a USD 1.5 billion capital raise and the USD 39 billion takeover by Block. For a business still reliant on outside funding, that deal-making background at the top of the finance function sends a pointed signal to investors.
RfRecon's First Customer
Alongside the personnel change, DroneShield disclosed its first order for RfRecon, an AI-driven radio-frequency reconnaissance unit. The buyer is an existing military end customer in Western Europe, with delivery scheduled by the end of 2026. Management is treating the win as validation of the next generation of its anti-drone product line, even though the company itself describes the order value as immaterial.
RfRecon was unveiled in July together with the RfAI-3 software engine. Volume production is set to begin in the second half of the year, with initial shipments expected by year-end.
Committed Revenue Edges Toward Guidance
On the numbers, DroneShield now puts contracted revenue for the 2026 financial year at AUD 251 million, up from the AUD 240 million it reported at the end of August. That sits inside its own guidance band of AUD 250 million to AUD 270 million. A further AUD 46 million in secured revenue is already booked for periods from 2027 onward.
Should investors sell immediately? Or is it worth buying DroneShield?
The update dovetails with the half-year results released last Tuesday, which showed revenue climbing 74% to AUD 125.8 million. Recurring revenue more than tripled, rising 229% to AUD 11.5 million, supported by roughly 4,100 software-capable devices now deployed in the field. The bottom line told a different story: an operating loss on an EBITDA basis and a net loss of AUD 32.2 million, against a profit of AUD 2.12 million a year earlier — evidence that growth is still being bought at a steep investment cost.
Berlin's Sabotage Package Could Open Doors
The commercial momentum arrives against a policy backdrop that may hand the sector extra tailwind. Reuters reported that Germany is planning a broad package of measures against sabotage, aimed at strengthening defenses against drone attacks, cyber intrusions and other forms of disruption. The trigger was a drone incident at an airport. For anti-drone technology suppliers such as DroneShield, such a program could generate fresh demand over the medium term, though no concrete orders for the company can yet be derived from it.
Shares Stay Under the Cosmos
None of the operational news has translated into a share-price recovery. The stock closed Thursday at EUR 1.05, down 1.6% on the day, leaving it 42% lower since the start of the year and nearly halved on a year-to-date basis. Over the past month alone it has shed 18%, and it now sits 72% below its 52-week high of EUR 3.79, reached in early October. The reaction to the half-year figures was muted, with the shares giving up 4.3% since their publication.
The gap between the growth narrative and the chart suggests investors are currently weighing the losses more heavily than the order book. DroneShield is also said to rank among the most heavily shorted names on the Australian market — a factor that can amplify volatility in either direction should sentiment turn.
Operationally, the company has kept expanding. During the first half it announced partnerships with Terma, Parsons and Origin Robotics, moved into a new 3,000-square-metre production facility and, in June, manufactured hardware in Europe for the first time. An ASIC investigation into market disclosures and trading activity from November 2025 continues to hang over the stock; the company says it remains open what consequences, if any, will follow.
With a new finance chief in place and the first RfRecon order secured, DroneShield has planted two operational markers by which its progress over the coming months will be judged.
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DroneShield Stock: New Analysis - 11 September
Fresh DroneShield information released. What's the impact for investors? Our latest independent report examines recent figures and market trends.
