Xtek, an Australian security and technology company, experienced an uptick of up to 15.7%, raising their value to A$0.480.

This substantial increase registers as their highest since May 23.

The company reported that a series of projects at different qualification stages could potentially bring in over A$375 million.

Xtek maintains a positive outlook for continued revenue growth and increased profitability for the fiscal year 2024.

The stock has been increasing for three straight sessions with its highest intraday percentage gain since May 22.

By the end of the year, despite the gains, the stock was down by around 32%.

Xtek is an Australian-based security and technology company involved in developing cutting-edge solutions for military, law enforcement and national security.