RocketDNA has reported its strongest quarter yet, breaking the $2 million revenue barrier and marking its first international export of the xBot® autonomous drone platform to a major African mining operation.
- Record quarterly revenue of $2.061 million, up 21% quarter-on-quarter
- Annual revenue for 2024 reached $7.241 million, an 18% increase over FY2023
- First export of xBot® drone platform to Kamoa Copper Mining Complex in the DRC
- Raised $3.38 million through Share Placement and oversubscribed Share Purchase Plan
- Retention of drone surveying contract with Anglo American despite cessation of security services
RocketDNA's Revenue Milestone
RocketDNA Ltd (ASX: RKT) has delivered its strongest financial quarter to date, surpassing the $2 million revenue mark for the first time with $2.061 million recorded in the December 2024 quarter. This represents a robust 21% increase compared to the previous quarter and contributes to an annual revenue tally of $7.241 million, up 18% from the prior fiscal year. The growth is attributed to a combination of strong project revenues, increased xBot® hardware deliveries, and the successful transition of customers from proof-of-concept trials to paid commercial deployments.
Strategic Capital Raising Fuels Expansion
During the quarter, RocketDNA successfully raised $3.38 million through a combination of a Share Placement and an oversubscribed Share Purchase Plan (SPP). The capital raise attracted participation from both institutional and retail investors, including a significant $400,000 commitment from major shareholder Altor Capital, underscoring strong investor confidence. The funds are earmarked for scaling production of the xBot® platform, accelerating the 'Drone as First Responder' program, advancing product development, and expanding operations across key sectors such as mining, security, law enforcement, and public safety.
First International Export: Africa Expansion
RocketDNA marked a pivotal milestone with the export of its xBot® autonomous drone platform to Kamoa Copper S.A. in the Democratic Republic of Congo (DRC). This deployment at one of the world's largest high-grade copper mining complexes represents the company's first international sale and validates the scalability and robustness of its drone solutions in challenging environments. The partnership with Kamoa Copper, a joint venture involving Ivanhoe Mines, Zijin Mining Group, Crystal River Global Limited, and the DRC government, opens the door to further opportunities in Africa's resource-rich markets.
Contract Update with Anglo American
While RocketDNA experienced a contraction in its contract scope with Anglo American due to the cessation of security monitoring services following Anglo American’s portfolio reshaping, the company retained the drone-based surveying component. This ensures continued revenue streams from the contract, albeit at a reduced scale, with the surveying services now representing 46% of the original contract value. This adjustment highlights the dynamic nature of enterprise contracts in the mining sector but also RocketDNA’s ability to maintain critical service relationships.
Outlook and Growth Prospects
RocketDNA’s Managing Director and CEO Christopher Clark emphasized the significance of the quarter’s achievements, noting the company’s progress from customer education and trials to commercial deployments. The successful capital raise and international expansion position RocketDNA well to capitalize on growing demand for autonomous drone solutions across mining, public safety, and critical infrastructure sectors globally. The company is focused on advancing its technology, including the next phase of the xBot® platform and the Drone as First Responder program, to meet evolving enterprise needs.
Bottom Line?
RocketDNA’s record quarter and strategic expansion into Africa set the stage for accelerated growth, but execution in new markets and contract renewals will be key to sustaining momentum.
Questions in the middle?
- How will RocketDNA navigate competitive pressures as it scales xBot® production internationally?
- What impact will the reduced scope of the Anglo American contract have on future revenue stability?
- Can RocketDNA’s Drone as First Responder program gain traction in public safety sectors beyond mining?