Elsight (ASX:ELS) Announcement Overview

Elsight Limited (ASX:ELS) has announced the receipt of a $US380,000 (~A$562,000) initial purchase order from a leading defence contractor to develop and supply a new communication device for the modern battlefield. This marks Elsight's largest defence deal to-date and signifies the beginning of a strategic program with anticipated growth starting in 2025 and beyond.

Executive Commentary on the Announcement

We are thrilled to achieve this significant milestone and support this innovative approach to communicate in the modern battlefield. This order represents another validation of the value and development qualities that Elsight brings to today's defence Armory. After a long evaluation process, Elsight was chosen as an essential partner in this long-term program, and we expect to reap the benefits of much larger programs in the years ahead.

Summary of Elsight (ASX:ELS) Announcement

Elsight Limited (ASX:ELS) has secured its largest defence order to-date, receiving a $US380,000 initial purchase order to develop and supply a new communication device for the modern battlefield. This marks the beginning of a strategic program with anticipated growth starting in 2025 and beyond. The company has provided a non-binding quotation for further orders starting in 2025, with expected revenues to grow to at least US$5m (~A$7.3m) over the next 1-2 years. The new product, based on Elsight's experience with its field-proven Halo, is designed to meet all defence standards and regulations globally, positioning the company for potential larger programs in the future.