Vancouver, BC., May 14, 2024 (GLOBE NEWSWIRE) -- Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) ("Draganfly" or the "Company"), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its first quarter financial results.
Key Financial and Operational Highlights for Q1 2024:
● | Revenue for the first quarter of 2024 was $1,329,581 which represents a 45% quarter over quarter increase and was down 17% year over year. Product sales of $1,237,948 made up the bulk of the revenue with the remainder coming from drone services. This is compared to total Q1 Revenue in 2023 of $1,601,486. |
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● | Gross profit for Q1 2024 was $280,011 down $163,423 over the same period in 2023. Gross margin percentage for Q1 2024 was 21.1% compared to 27.7% in Q1 2023. Gross profit would have been $428,771 and gross margin would have been 32.2%, not including a one-time write down of inventory of $148,760. The increase is due to the sales mix of the products sold. |
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● | The Company recorded a comprehensive loss of $1,884,416 in the first quarter of 2024 compared to a comprehensive loss of $7,096,995 in the first quarter of 2023. The comprehensive loss for the period includes non-cash changes comprised of a positive change in fair value derivative of $1,817,569, a write down of inventory of $148,760, and an impairment gain on notes receivable of $6,751 and would otherwise be a comprehensive loss of $3,559,976. Contributors to the year-over-year decrease are lower office and miscellaneous, professional fees, research and development, and wages. |
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● | Cash balance on March 31, 2024 of $4,339,736 compared to $3,093,612 on December 31, 2023. |
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● | Draganfly secured an agreement with Mass General Brigham to provide drone delivery and solutions for their Home Hospital patients, improving access to healthcare services. Draganfly's innovative drone technology will facilitate the efficient delivery of essential medical supplies and lab work, enhancing care and reducing transportation delays within the greater Boston area. This partnership underscores the paradigm shift in healthcare delivery envisioned by Mass General Brigham, aiming to bring quality care directly into patients' homes. |
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● | Draganfly was chosen as the primary solutions provider by Arabian Aero Investment LLC, a Dubai-based entity backed by a member of the Dubai Royal Family. The collaboration aims to integrate Draganfly's Unmanned Aerial Vehicles (UAVs) into the UAE's pioneering solar-powered charging platform, which combines renewable energy with efficient last-mile delivery. This innovative initiative is a cornerstone in the UAE's ambitious goal to decarbonize its transportation system over the next three years. Following COP28, this project reflects the urgent need for renewable energy adoption and improved energy efficiency, with Draganfly's drone technology playing a critical role. |
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● | Draganfly Inc. enrolled its Commander 3XL platform in the Green UAS program, managed by the Association for Uncrewed Vehicle Systems International (AUVSI), to bolster cybersecurity compliance and supply chain standards. The program aligns with the National Defense Authorization Act (NDAA), paving the way for the Commander 3XL to be among the first commercial drones to obtain Green UAS certification. Achieving this certification will expedite its adoption by U.S. federal and state agencies, as it provides a pathway to the Blue UAS cleared list, qualifying it for Department of Defense procurement. |
● | Draganfly Inc. was chosen by MMS Products, Inc. to develop a drone-based tactical multi-drop payload system that leverages the adaptable Mjolnir delivery device for versatile and effective tactical operations. The system will feature universal mount capabilities for easy attachment across various drone models, optimized for use with the Draganfly Commander 3XL. This collaboration aims to produce a turnkey tactical solution that enhances safety, efficiency, and performance for military and industrial applications. |
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● | Draganfly announced that its Commander 3XL drone won Best Enterprise Drone, Best Search and Rescue Drone, and Best Delivery Drone at The Droning Company's Annual Droning Awards. The Commander 3XL, nicknamed the "Swiss Army Knife of Drones," is recognized for its versatile design, ease of assembly, and rapid deployment. It can transport up to 24 pounds using its drop and winch-down systems and is equipped to withstand challenging weather conditions. This marks the second consecutive year the Commander 3XL has won the Best Enterprise Drone award, highlighting its reliability across various industries. |
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● | Draganfly Inc. was appointed the exclusive partner of the Ulkatcho Group of Companies (UGoC), the corporate arm of the Ulkatcho First Nation, to expand UAV solutions and capabilities within the Ulkatcho First Nation's Traditional Territory. This partnership will involve commercial UAV services for mapping, surveying, resource and wildlife management, emergency response, and wildfire monitoring. The collaboration aims to support economic growth and resilience through advanced UAV technology and comprehensive training programs. |
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● | On February 26th Draganfly closed its previously announced underwritten public offering of 13,400,000 units, raising approximately $3.6 million in gross proceeds. Each unit comprises one common share (or one pre-funded warrant) and one warrant to purchase a common share, priced at $0.27 per unit. The associated warrants have an exercise price of $0.36 per share, were immediately exercisable, and will expire five years after issuance. Maxim Group LLC acted as the sole book-running manager for the offering. Draganfly intends to use the net proceeds to meet the demand for new products, fund growth initiatives, and support working capital requirements such as product development, acquisitions, and research. The offering was conducted under an effective shelf registration statement filed with the U.S. Securities and Exchange Commission (SEC) and a Canadian base shelf prospectus. |
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● | Draganfly Inc. was selected by Knightscope, Inc. (NASDAQ: KSCP) to integrate its drone technology with Knightscope's Autonomous Security Robots (ASRs) and emergency communication products. This partnership aims to develop a comprehensive, AI-driven security solution that combines Draganfly's advanced drones with Knightscope's ASRs, communication platforms, and Security Operations Center (KSOC) monitoring system. The result will be a rapidly deployable, scalable security solution offering surveillance, intervention, and post-event evidentiary support. By adding aerial surveillance to Knightscope's ground-based technologies, Draganfly drones will enhance situational awareness and provide real-time responses to alarms and incidents. This collaboration aims to redefine modern public safety, bringing significant benefits to critical infrastructure protection, public safety, and private security operations. |
Draganfly will hold a shareholder update and earnings call on May 14, 2024 at 2:30 p.m. PDT / 5:30 p.m. EDT.
Registration for the call can be done Here
Selected financial information is outlined below and should be read with Draganfly's consolidated financial statements for the quarter ended March 31, 2024, and associated management discussion and analysis, which will be available under the Company's profile on SEDAR at and filed on EDGAR at www.sec.gov.
| | Three months ended March 31, | |
| | 2024 | | | 2023 | |
Total revenues | | $ | 1,329,581 | | | $ | 1,601,486 | |
Gross Margin (as a % of revenues) (1) | | | 21.1% | | | | 27.7% | |
Net income (loss) | | | (1,863,808) | | | | (7,067,626) | |
Net income (loss) per share ($) | | | | | | | | |
- Basic | | | (0.03) | | | | (0..20) | |
- Diluted | | | (0.03) | | | | (0.20) | |
Comprehensive income (loss) | | | (1,884,416) | | | | (7,096,995) | |
Comprehensive income (loss) per share ($) | | | | | | | | |
- Basic | | | (0.03) | | | | (0.20) | |
- Diluted | | | (0.03) | | | | (0.20) | |
Change in cash and cash equivalents | | $ | 1,246,124 | | | $ | 5,474,1555 | |
(1) | | Gross Profit (as a % of revenues) would have been 32.2% and 32.5% not including a one-time non-cash write down of inventory for $148,760 and $77,047 respectively for the three month period ending March 31 2024 and 2023, respectively. |
As at | | March 31, 2024 | | | December 31, 2023 | |
Total assets | | $ | 8,990,548 | | | $ | 8,330,292 | |
Working capital | | | 534,226 | | | | (717,017) | |
Total non-current liabilities | | | 482,374 | | | | 523,584 | |
Shareholders' equity | | $ | 1,678,527 | | | $ | 407,716 | |
Number of shares outstanding | | | 63,393,221 | | | | 49,229,563 | |
Shareholders' equity and working capital as at March 31, 2024, includes a fair value of derivative liability of $4,033,574 (2023 - $4,196,125) and would otherwise be $5,712,100 (2023 - $4.603,841) and $4,567,800 (2023 - $3,479,108), respectively.
| | 2024 Q1 | | | 2023 Q4 | | | 2023 Q1 | |
Revenue | | $ | 1,329,581 | | | $ | 916,299 | | | $ | 1,601,486 | |
Cost of sales(2) | | $ | (1,049,570) | | | $ | (657,420) | | | $ | (1,158,052) | |
Gross profit(3) | | $ | 280,011 | | | $ | 258,879 | | | $ | 443,434 | |
Gross margin – percentage | | | 21.1% | | | | 28.3% | | | | 27.7% | |
Operating expenses | | $ | (3,530,933) | | | $ | (3,482,141) | | | $ | (7,608,133) | |
Operating income (loss) | | $ | (3,250,922) | | | $ | (3,223,262) | | | $ | (7,164,699) | |
Operating loss per share - basic | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
Operating loss per share - diluted | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
Other income (expense) | | $ | 1,387,114 | | | $ | (965,075) | | | $ | 97,073 | |
Change in fair value of derivative liability (1) | | $ | 1,817,569 | | | $ | 153,798 | | | $ | 57,314 | |
Other comprehensive income (loss) | | $ | (20,608) | | | $ | (3,461) | | | $ | (29,369) | |
Comprehensive income (loss) | | $ | (1,884,416) | | | $ | (4,191,796) | | | $ | (7,096,995) | |
Comprehensive income (loss) per share - basic | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
Comprehensive income (loss) per share - diluted | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
(1) | | Included in other income (expense). |
(2) | | Cost of goods sold would have been $900,810 in Q1 2024 not including a one-time non-cash write down of inventory for $148,760. For the comparative quarters cost of goods sold not including inventory writedowns of $77,047 in Q1 2023 and $123,424 in Q4 2023 would have been $1,081,005 in Q1 2023 and $533,996 in Q4 2023 before these write downs. |
(3) | | Gross profit would have been $428,771 not including a one-time non-cash write down of inventory for $148,760 (2023 - $77,047). Gross profit would have been $520,481 in Q1 2023 and $382,303 in Q4 2023 without the write downs. |
Earlier today, the Company filed an amendment to its Form 20-F for the fiscal year ended December 31, 2023 (the "Amended 20-F") to restate certain information in the Company's previously issued Consolidated Statement of Cashflows (the "Restatement"). As detailed below this restatement does not impact the Company's Assets, Liabilities, Revenues, Gross Profit or Net Loss for the fiscal year ended December 31, 2023. Subsequent to the filing of the Form 20-F on March 27th, the Company determined that in the presentation of the year end Consolidated Statement of Cash Flows, some of the proceeds from the October 30, 2023 share issuance net of related costs were split between financing and operating activities. In the Restatement, the entire proceeds and all the share issue costs paid during the year have been allocated to the financing activities section.
The Restatement does not impact the Consolidated Statements of Financial Position, Consolidated Statements of Comprehensive Loss, Consolidated Statements of Changes in Shareholder's Equity, or cash position of the Company as of and for the year ended December 31, 2023. The only change was with respect to a reclassification within the Statement of Cashflows as described above.
不列颠哥伦比亚省温哥华，2024年5月14日（环球新闻专线）——屡获殊荣的行业领先无人机解决方案和系统开发商Draganfly Inc.（纳斯达克股票代码：DPRO）（FSE：3U8）（“Draganfly” 或 “公司”）欣然宣布其第一季度财务业绩。
2024 年第一季度的主要财务和运营亮点：
● | 2024年第一季度的收入为1,329,581美元，同比增长45％，同比下降17％。1,237,948美元的产品销售额构成了收入的大部分，其余来自无人机服务。相比之下，2023年第一季度的总收入为1,601,486美元。 |
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● | 2024年第一季度的毛利为280,011美元，比2023年同期下降了163,423美元。2024 年第一季度的毛利率为 21.1%，而 2023 年第一季度为 27.7%。毛利润将为428,771美元，毛利率为32.2％，其中不包括一次性减记148,760美元的库存。增长归因于所售产品的销售组合。 |
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● | 该公司在2024年第一季度的综合亏损为1,884,416美元，而2023年第一季度的综合亏损为7,096,995美元。该期间的综合亏损包括非现金变动，包括公允价值衍生品的正变动1,817,569美元，库存减记148,760美元，应收票据减值收益6,751美元，否则将是3,559,976美元的综合亏损。造成同比下降的原因是办公和杂费、专业费用、研发和工资的降低。 |
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● | 2024年3月31日的现金余额为4,339,736美元，而2023年12月31日的现金余额为3,093,612美元。 |
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● | Draganfly与麻省将军布里格姆达成协议，为其家庭医院患者提供无人机运送和解决方案，从而改善获得医疗服务的机会。Draganfly的创新无人机技术将促进基本医疗用品和实验室工作的有效交付，改善护理并减少大波士顿地区的运输延误。这种伙伴关系凸显了马萨诸塞州布里格姆将军所设想的医疗保健服务的模式转变，旨在将高质量的医疗服务直接带到患者家中。 |
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● | Draganfly被阿拉伯航空投资有限责任公司选为主要解决方案提供商。阿拉伯航空投资有限责任公司是一家总部位于迪拜的实体，由迪拜王室成员支持。该合作旨在将Draganfly的无人驾驶飞行器（UAV）集成到阿联酋开创性的太阳能充电平台中，该平台将可再生能源与高效的最后一英里交付相结合。这项创新举措是阿联酋在未来三年实现交通系统脱碳的雄心勃勃目标的基石。继 COP28 之后，该项目反映了采用可再生能源和提高能源效率的迫切需求，Draganfly 的无人机技术发挥了至关重要的作用。 |
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● | Draganfly Inc.将其Commander 3XL平台注册到绿色无人机系统计划中，该计划由国际无人驾驶车辆系统协会（AUVSI）管理，以加强网络安全合规性和供应链标准。该计划符合《国防授权法》（NDAA），为Commander 3XL成为首批获得绿色无人机认证的商用无人机之一铺平了道路。获得该认证将加快美国联邦和州机构的采用，因为它提供了通往Blue UAS清单的途径，使其有资格获得国防部采购。 |
● | Draganfly Inc.被MMS Products, Inc.选中开发一种基于无人机的战术多滴有效载荷系统，该系统利用适应性强的雷神之锤发射设备进行多功能和有效的战术行动。该系统将具有通用支架功能，可轻松安装在各种无人机型号上，并针对Draganfly Commander 3XL进行了优化。此次合作旨在提供一站式战术解决方案，以提高军事和工业应用的安全性、效率和性能。 |
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● | Draganfly宣布，其Commander 3XL无人机在无人机公司的年度无人驾驶奖中获得了最佳企业无人机、最佳搜救无人机和最佳交付无人机奖。Commander 3XL 被昵称为 “瑞士无人机军刀”，因其多功能设计、易于组装和快速部署而广受认可。它使用其下拉和绞盘系统最多可以运输 24 磅的重量，并且能够承受恶劣的天气条件。这标志着Commander 3XL连续第二年获得最佳企业无人机奖，这凸显了其在各个行业中的可靠性。 |
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● | Draganfly Inc.被任命为Ulkatcho原住民的公司分支机构Ulkatcho公司集团（UGOC）的独家合作伙伴，负责在乌尔卡乔原住民传统领土内扩展无人机解决方案和能力。该伙伴关系将涉及用于测绘、测量、资源和野生动物管理、应急响应和野火监测的商用无人机服务。该合作旨在通过先进的无人机技术和全面的培训计划来支持经济增长和弹性。 |
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● | 2月26日，Draganfly完成了先前宣布的1340万套单位的承销公开发行，总收益约为360万美元。每个单位包括一股普通股（或一份预先注资的认股权证）和一份购买普通股的认股权证，价格为每单位0.27美元。相关认股权证的行使价为每股0.36美元，可立即行使，将在发行五年后到期。Maxim Group LLC是本次发行的唯一账面运营经理。Draganfly打算将净收益用于满足对新产品的需求，为增长计划提供资金，并支持产品开发、收购和研究等营运资金需求。此次发行是根据向美国证券交易委员会（SEC）提交的有效货架注册声明和加拿大基础货架招股说明书进行的。 |
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● | Draganfly Inc. 被Knightscope, Inc.（纳斯达克股票代码：KSCP）选中将其无人机技术与Knightscope的自主安全机器人（ASR）和紧急通信产品整合。该合作伙伴关系旨在开发一种全面的、由人工智能驱动的安全解决方案，将Draganfly的先进无人机与Knightscope的ASR、通信平台和安全运营中心（KSOC）监控系统相结合。结果将是一个可快速部署、可扩展的安全解决方案，提供监控、干预和事后证据支持。通过在Knightscope的地面技术中增加空中监视，Draganfly无人机将增强态势感知能力，并对警报和事件提供实时响应。此次合作旨在重新定义现代公共安全，为关键基础设施保护、公共安全和私人保安运营带来显著好处。 |
Draganfly将于太平洋夏令时间2024年5月14日下午 2:30 /美国东部时间下午 5:30 举行股东最新情况和财报电话会议。
电话注册可以在这里完成
部分财务信息概述如下，应与Draganfly截至2024年3月31日的季度合并财务报表以及相关的管理层讨论和分析一起阅读，这些信息将在公司在SEDAR的简介下公布，网址为EDGAR，网址为www.sec.gov。
| | 截至3月31日的三个月 | |
| | 2024 | | | 2023 | |
总收入 | | $ | 1,329,581 | | | $ | 1,601,486 | |
毛利率（占收入的百分比）(1) | | | 21.1% | | | | 27.7% | |
净收益（亏损） | | | (1,863,808) | | | | (7,067,626) | |
每股净收益（亏损）（美元） | | | | | | | | |
-基本 | | | (0.03) | | | | (0.. 20) | |
-稀释 | | | (0.03) | | | | (0.20) | |
综合收益（亏损） | | | (1,884,416) | | | | (7,096,995) | |
每股综合收益（亏损）（美元） | | | | | | | | |
-基本 | | | (0.03) | | | | (0.20) | |
-稀释 | | | (0.03) | | | | (0.20) | |
现金和现金等价物的变化 | | $ | 1,246,124 | | | $ | 5,474,1555 | |
(1) | | 毛利（占收入的百分比）将分别为32.2％和32.5％，其中不包括截至2024年3月31日和2023年3月31日的三个月期间分别为148,760美元和77,047美元的一次性非现金库存减记。 |
截至目前 | | 2024年3月31日 | | | 2023年12月31日 | |
总资产 | | $ | 8,990,548 | | | $ | 8,330,292 | |
营运资金 | | | 534,226 | | | | (717,017) | |
非流动负债总额 | | | 482,374 | | | | 523,584 | |
股东权益 | | $ | 1,678,527 | | | $ | 407,716 | |
已发行股票数量 | | | 63,393,221 | | | | 49,229,563 | |
截至2024年3月31日，股东权益和营运资金包括衍生负债的公允价值为4,033,574美元（2023年至4,196,125美元），否则将分别为5,712,100美元（2023年-4.603,841美元）和4,567,800美元（2023年-3,479,108美元）。
| | 2024 年第一季度 | | | 2023 年第四季度 | | | 2023 第一季度 | |
收入 | | $ | 1,329,581 | | | $ | 916,299 | | | $ | 1,601,486 | |
销售成本 (2) | | $ | (1,049,570) | | | $ | (657,420) | | | $ | (1,158,052) | |
毛利润 (3) | | $ | 280,011 | | | $ | 258,879 | | | $ | 443,434 | |
毛利率 — 百分比 | | | 21.1% | | | | 28.3% | | | | 27.7% | |
运营费用 | | $ | (3,530,933) | | | $ | (3,482,141) | | | $ | (7,608,133) | |
营业收入（亏损） | | $ | (3,250,922) | | | $ | (3,223,262) | | | $ | (7,164,699) | |
每股营业亏损——基本 | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
每股营业亏损——摊薄后 | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
其他收入（支出） | | $ | 1,387,114 | | | $ | (965,075) | | | $ | 97,073 | |
衍生负债公允价值的变化 (1) | | $ | 1,817,569 | | | $ | 153,798 | | | $ | 57,314 | |
其他综合收益（亏损） | | $ | (20,608) | | | $ | (3,461) | | | $ | (29,369) | |
综合收益（亏损） | | $ | (1,884,416) | | | $ | (4,191,796) | | | $ | (7,096,995) | |
每股综合收益（亏损）——基本 | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
每股综合收益（亏损）——摊薄后 | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
(1) | | 包含在其他收入（支出）中。 |
(2) | | 2024年第一季度的商品销售成本将为900,810美元，其中不包括一次性非现金减记148,760美元的库存。在减记之前，不包括库存减记的2023年第一季度77,047美元和2023年第四季度的123,424美元的库存减记的商品销售成本在2023年第一季度为1,081,005美元，2023年第四季度为533,996美元。 |
(3) | | 毛利本应为428,771美元，其中不包括一次性非现金减记148,760美元（2023年至77,047美元）的库存。如果不减记，2023年第一季度的毛利润将为520,481美元，2023年第四季度的毛利润将为382,303美元。 |
今天早些时候，公司提交了截至2023年12月31日财年的20-F表修正案（“修订后的20-F”），以重申公司先前发布的合并现金流量表（“重报”）中的某些信息。如下所述，本重报不影响公司截至2023年12月31日财年的资产、负债、收入、毛利或净亏损。在3月27日提交20-F表格后，公司确定，在年终合并现金流量表的列报中，扣除相关成本的2023年10月30日股票发行的部分收益在融资和运营活动之间分配。在重报中，全年支付的全部收益和所有股票发行费用已分配给融资活动部分。
重报不影响公司截至2023年12月31日止年度的合并财务状况表、综合亏损表、合并股东权益变动表或现金状况。唯一的变化与上文所述的现金流量表中的重新分类有关。
