DroneShield Taps Ex-Afterpay CFO as Backlog Swells Past AUD 250 Million

DroneShield appoints Rebecca Lowde as CFO effective 2 November and lifts FY2026 committed revenue past AUD 250 million, within its guidance range.

DroneShield has moved to shore up its finance leadership at a moment when its order book is expanding faster than its share price. The Australian counter-drone specialist confirmed the appointment of Rebecca Lowde as Chief Financial Officer, effective 2 November, succeeding Carla Balanco after more than eight years in the role.

Lowde arrives with roughly three decades of financial experience, including a stint at MYOB and an earlier chapter at Afterpay, where she helped steer a USD 1.5 billion capital raise and the company's USD 39 billion takeover by Block. Her pedigree in listed-company finance is likely no accident: DroneShield has faced market criticism over its communication since Tuesday's half-year results, which paired a revenue surge with a sharply wider net loss.

Guidance Corridor Narrows Toward the Top

Alongside the leadership change, the company updated its contracted revenue position. Committed revenue for the 2026 financial year has climbed past AUD 250 million, up from AUD 240 million at the end of August and AUD 206 million a month before that. The figure sits inside DroneShield's own guidance range of AUD 250 million to AUD 270 million. For 2027 and beyond, a further AUD 46 million in secured orders is now on the books, up from AUD 26 million previously — a jump that points to lengthening visibility beyond the current year.

The company also logged the first order for its RfRecon system, an AI-driven counter-drone device covering a frequency band from 100 to 7125 megahertz. The buyer is a Western European military end-user, with delivery slated for the end of the current year. DroneShield described the contract as immaterial to group earnings but framed it as validation that the new product line is finding commercial traction.

Market Response Stays Muted

The combination of a raised revenue outlook and a fresh finance chief has yet to shift sentiment. The stock closed Wednesday at EUR 1.06, down 2.7% on the day, and has shed 17% over the past 30 days — a stretch that included both the new product launch and the half-year report. Since the start of the year, the decline totals 41%, leaving the shares 72% below their October 52-week high. An RSI near 40 underscores the persistent skepticism.

Tuesday's interim figures go some way to explaining the mood. Revenue jumped 74% to USD 125.8 million, yet the loss after tax came in at USD 32.2 million. Against that, the balance sheet offers a cushion: USD 180 million in cash at the half-year mark and no debt, giving DroneShield room to broaden its product range and pursue new customer segments in Europe without tapping external financing.

Whether the new CFO and the RfRecon order can close the gap between operational momentum and market skepticism will hinge on coming quarterly reports. For now, that disconnect remains the defining feature of the DroneShield story.