Nightingale Security contract announcement

Nightingale Security (ASX: $NGL) has secured a significant contract to supply its AI-powered Blackbird Security Drone systems to the largest Police Department in the United States. The three-year purchase and services contract is a key driver for future growth and validates the Company's 'Drone as First Responder' strategy in law enforcement. The installation of the Blackbird Security Drones is expected to be completed in the first quarter of 2024, with the Company aiming to generate additional recurring revenue from maintenance, repair, and upgrade services.

Executive commentary on the contract

Nightingale CEO, Jack Wu, expressed pride in the partnership with the largest Police Department in the USA, highlighting the Company's commitment to creating safer communities through the deployment of innovative drone technology. The Company believes that the contract will greatly enhance its market position and drive future growth by accelerating the adoption of Nightingale's Blackbird Drone systems across multiple other US police departments and overseas law enforcement agencies.

Summary of Nightingale Security's contract and outlook

Nightingale Security's contract to supply AI-powered Blackbird Security Drones to the largest Police Department in the USA marks a significant milestone and validates the Company's strategy in law enforcement. The deployment of the drones is expected to enhance the Police Department's ability to respond to emergencies, offering greater distance coverage, shorter response times, and augmented situational awareness of critical incidents. The Company aims to expand the contract over time to supply drones to numerous additional locations across the city, tapping into the significant addressable market in law enforcement. With a focus on critical infrastructure security, Nightingale aims to empower organizations to enhance their security operations and protect valuable assets. The revenue from this contract will be recognized over the three-year term, and the Company's management believes in the reasonableness of the forward-looking statements made in the announcement.