DroneShield (ASX:DRO) confirmed Tuesday in response to a letter from the Australian Securities Exchange that the portion of the Australian government defense contract value it would potentially receive as the systems integration partner for the LAND 156 project was not considered material, according to a Wednesday filing with the Australian bourse.

DroneShield disclosed on Aug. 28 that it did not secure the contract for the project, which was awarded to Leidos Australia.

The value of the contract was set at AU$45 million over three years, with the company expecting to receive AU$7 million based on internal projections. In contrast, DroneShield's global sales pipeline is estimated at AU$2.6 billion.

Shares of the company rose past 1% in recent Wednesday trade.