Electro Optic Systems Holdings' stock soared 5.99% during intraday trading on Thursday, marking a significant upward movement for the defense technology company.

The surge follows the company's announcement that it secured new orders worth approximately AU$38 million. This includes an AU$23 million order for its Naval R400 remote weapon system from a new customer in the Middle East, with deliveries expected over the next seven years.

Additionally, the company's MARSS command and control business secured an AU$15 million order from an existing Middle East customer for counter-drone defense systems, with most deliveries anticipated in 2026 to 2027. These substantial contract wins are likely driving investor optimism about the company's future revenue streams.