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.
不列顛哥倫比亞省溫哥華，2024年5月14日（環球新聞專線）——屢獲殊榮的行業領先無人機解決方案和系統開發商Draganfly Inc.（納斯達克股票代碼：DPRO）（FSE：3U8）（“Draganfly” 或 “公司”）欣然宣佈其第一季度財務業績。
2024 年第一季度的主要財務和運營亮點：
● | 2024年第一季度的收入爲1,329,581美元，同比增長45％，同比下降17％。1,237,948美元的產品銷售額構成了收入的大部分，其餘來自無人機服務。相比之下，2023年第一季度的總收入爲1,601,486美元。 |
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● | 2024年第一季度的毛利爲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爲 21.1%，而 2023 年第一季度爲 27.7%。毛利潤將爲428,771美元，毛利率爲32.2％，其中不包括一次性減記148,760美元的庫存。增長歸因於所售產品的銷售組合。 |
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● | 該公司在2024年第一季度的綜合虧損爲1,884,416美元，而2023年第一季度的綜合虧損爲7,096,995美元。該期間的綜合虧損包括非現金變動，包括公允價值衍生品的正變動1,817,569美元，庫存減記148,760美元，應收票據減值收益6,751美元，否則將是3,559,976美元的綜合虧損。造成同比下降的原因是辦公和雜費、專業費用、研發和工資的降低。 |
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● | 2024年3月31日的現金餘額爲4,339,736美元，而2023年12月31日的現金餘額爲3,093,612美元。 |
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● | Draganfly與麻省將軍布里格姆達成協議，爲其家庭醫院患者提供無人機運送和解決方案，從而改善獲得醫療服務的機會。Draganfly的創新無人機技術將促進基本醫療用品和實驗室工作的有效交付，改善護理並減少大波士頓地區的運輸延誤。這種夥伴關係凸顯了馬薩諸塞州布里格姆將軍所設想的醫療保健服務的模式轉變，旨在將高質量的醫療服務直接帶到患者家中。 |
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● | Draganfly被阿拉伯航空投資有限責任公司選爲主要解決方案提供商。阿拉伯航空投資有限責任公司是一家總部位於迪拜的實體，由迪拜王室成員支持。該合作旨在將Draganfly的無人駕駛飛行器（UAV）集成到阿聯酋開創性的太陽能充電平台中，該平台將可再生能源與高效的最後一英里交付相結合。這項創新舉措是阿聯酋在未來三年實現交通系統脫碳的雄心勃勃目標的基石。繼 COP28 之後，該項目反映了採用可再生能源和提高能源效率的迫切需求，Draganfly 的無人機技術發揮了至關重要的作用。 |
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● | Draganfly Inc.將其Commander 3XL平台註冊到綠色無人機系統計劃中，該計劃由國際無人駕駛車輛系統協會（AUVSI）管理，以加強網絡安全合規性和供應鏈標準。該計劃符合《國防授權法》（NDAA），爲Commander 3XL成爲首批獲得綠色無人機認證的商用無人機之一鋪平了道路。獲得該認證將加快美國聯邦和州機構的採用，因爲它提供了通往Blue UAS清單的途徑，使其有資格獲得國防部採購。 |
● | Draganfly Inc.被MMS Products, Inc.選中開發一種基於無人機的戰術多滴有效載荷系統，該系統利用適應性強的雷神之錘發射設備進行多功能和有效的戰術行動。該系統將具有通用支架功能，可輕鬆安裝在各種無人機型號上，並針對Draganfly Commander 3XL進行了優化。此次合作旨在提供一站式戰術解決方案，以提高軍事和工業應用的安全性、效率和性能。 |
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● | Draganfly宣佈，其Commander 3XL無人機在無人機公司的年度無人駕駛獎中獲得了最佳企業無人機、最佳搜救無人機和最佳交付無人機獎。Commander 3XL 被暱稱爲 “瑞士無人機軍刀”，因其多功能設計、易於組裝和快速部署而廣受認可。它使用其下拉和絞盤系統最多可以運輸 24 磅的重量，並且能夠承受惡劣的天氣條件。這標誌着Commander 3XL連續第二年獲得最佳企業無人機獎，這凸顯了其在各個行業中的可靠性。 |
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● | Draganfly Inc.被任命爲Ulkatcho原住民的公司分支機構Ulkatcho公司集團（UGOC）的獨家合作伙伴，負責在烏爾卡喬原住民傳統領土內擴展無人機解決方案和能力。該夥伴關係將涉及用於測繪、測量、資源和野生動物管理、應急響應和野火監測的商用無人機服務。該合作旨在通過先進的無人機技術和全面的培訓計劃來支持經濟增長和彈性。 |
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● | 2月26日，Draganfly完成了先前宣佈的1340萬套單位的承銷公開發行，總收益約爲360萬美元。每個單位包括一股普通股（或一份預先注資的認股權證）和一份購買普通股的認股權證，價格爲每單位0.27美元。相關認股權證的行使價爲每股0.36美元，可立即行使，將在發行五年後到期。Maxim Group LLC是本次發行的唯一賬面運營經理。Draganfly打算將淨收益用於滿足對新產品的需求，爲增長計劃提供資金，並支持產品開發、收購和研究等營運資金需求。此次發行是根據向美國證券交易委員會（SEC）提交的有效貨架註冊聲明和加拿大基礎貨架招股說明書進行的。 |
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● | Draganfly Inc. 被Knightscope, Inc.（納斯達克股票代碼：KSCP）選中將其無人機技術與Knightscope的自主安全機器人（ASR）和緊急通信產品整合。該合作伙伴關係旨在開發一種全面的、由人工智能驅動的安全解決方案，將Draganfly的先進無人機與Knightscope的ASR、通信平台和安全運營中心（KSOC）監控系統相結合。結果將是一個可快速部署、可擴展的安全解決方案，提供監控、干預和事後證據支持。通過在Knightscope的地面技術中增加空中監視，Draganfly無人機將增強態勢感知能力，並對警報和事件提供實時響應。此次合作旨在重新定義現代公共安全，爲關鍵基礎設施保護、公共安全和私人保安運營帶來顯著好處。 |
Draganfly將於太平洋夏令時間2024年5月14日下午 2:30 /美國東部時間下午 5:30 舉行股東最新情況和業績電話會議。
電話註冊可以在這裏完成
部分財務信息概述如下，應與Draganfly截至2024年3月31日的季度合併財務報表以及相關的管理層討論和分析一起閱讀，這些信息將在公司在SEDAR的簡介下公佈，網址爲EDGAR，網址爲www.sec.gov。
| | 截至3月31日的三個月 | |
| | 2024 | | | 2023 | |
總收入 | | $ | 1,329,581 | | | $ | 1,601,486 | |
毛利率（佔收入的百分比）(1) | | | 21.1% | | | | 27.7% | |
淨收益（虧損） | | | (1,863,808) | | | | (7,067,626) | |
每股淨收益（虧損）（美元） | | | | | | | | |
-基本 | | | (0.03) | | | | (0.. 20) | |
-稀釋 | | | (0.03) | | | | (0.20) | |
綜合收益（虧損） | | | (1,884,416) | | | | (7,096,995) | |
每股綜合收益（虧損）（美元） | | | | | | | | |
-基本 | | | (0.03) | | | | (0.20) | |
-稀釋 | | | (0.03) | | | | (0.20) | |
現金和現金等價物的變化 | | $ | 1,246,124 | | | $ | 5,474,1555 | |
(1) | | 毛利（佔收入的百分比）將分別爲32.2％和32.5％，其中不包括截至2024年3月31日和2023年3月31日的三個月期間分別爲148,760美元和77,047美元的一次性非現金庫存減記。 |
截至目前 | | 2024年3月31日 | | | 2023年12月31日 | |
總資產 | | $ | 8,990,548 | | | $ | 8,330,292 | |
營運資金 | | | 534,226 | | | | (717,017) | |
非流動負債總額 | | | 482,374 | | | | 523,584 | |
股東權益 | | $ | 1,678,527 | | | $ | 407,716 | |
已發行股票數量 | | | 63,393,221 | | | | 49,229,563 | |
截至2024年3月31日，股東權益和營運資金包括衍生負債的公允價值爲4,033,574美元（2023年至4,196,125美元），否則將分別爲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 | |
銷售成本 (2) | | $ | (1,049,570) | | | $ | (657,420) | | | $ | (1,158,052) | |
毛利潤 (3) | | $ | 280,011 | | | $ | 258,879 | | | $ | 443,434 | |
毛利率 — 百分比 | | | 21.1% | | | | 28.3% | | | | 27.7% | |
運營費用 | | $ | (3,530,933) | | | $ | (3,482,141) | | | $ | (7,608,133) | |
營業收入（虧損） | | $ | (3,250,922) | | | $ | (3,223,262) | | | $ | (7,164,699) | |
每股營業虧損——基本 | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
每股營業虧損——攤薄後 | | $ | (0.05) | | | $ | (0.08) | | | $ | (0.21) | |
其他收入（支出） | | $ | 1,387,114 | | | $ | (965,075) | | | $ | 97,073 | |
衍生負債公允價值的變化 (1) | | $ | 1,817,569 | | | $ | 153,798 | | | $ | 57,314 | |
其他綜合收益（虧損） | | $ | (20,608) | | | $ | (3,461) | | | $ | (29,369) | |
綜合收益（虧損） | | $ | (1,884,416) | | | $ | (4,191,796) | | | $ | (7,096,995) | |
每股綜合收益（虧損）——基本 | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
每股綜合收益（虧損）——攤薄後 | | $ | (0.03) | | | $ | (0.13) | | | $ | (0.20) | |
(1) | | 包含在其他收入（支出）中。 |
(2) | | 2024年第一季度的商品銷售成本將爲900,810美元，其中不包括一次性非現金減記148,760美元的庫存。在減記之前，不包括庫存減記的2023年第一季度77,047美元和2023年第四季度的123,424美元的庫存減記的商品銷售成本在2023年第一季度爲1,081,005美元，2023年第四季度爲533,996美元。 |
(3) | | 毛利本應爲428,771美元，其中不包括一次性非現金減記148,760美元（2023年至77,047美元）的庫存。如果不減記，2023年第一季度的毛利潤將爲520,481美元，2023年第四季度的毛利潤將爲382,303美元。 |
今天早些時候，公司提交了截至2023年12月31日財年的20-F表修正案（“修訂後的20-F”），以重申公司先前發佈的合併現金流量表（“重報”）中的某些信息。如下所述，本重報不影響公司截至2023年12月31日財年的資產、負債、收入、毛利或淨虧損。在3月27日提交20-F表格後，公司確定，在年終合併現金流量表的列報中，扣除相關成本的2023年10月30日股票發行的部分收益在融資和運營活動之間分配。在重報中，全年支付的全部收益和所有股票發行費用已分配給融資活動部分。
重報不影響公司截至2023年12月31日止年度的合併財務狀況表、綜合虧損表、合併股東權益變動表或現金狀況。唯一的變化與上文所述的現金流量表中的重新分類有關。
