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Draganfly Inc
Draganfly, Inc. engages in the manufacture and sale of commercial unmanned aerial vehicle systems and software serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. The company is headquartered in Saskatoon, Saskatchewan and currently employs 41 full-time employees. The company went IPO on 2019-11-05. The company manufactures multi-rotor helicopters, industrial aerial video systems and civilian small unmanned aerial systems or vehicles. The Company’s products include Quadcopters, Draganfly Commander2, Vital Intelligence, Quantix Mapper, Tango2, Payloads and Sensors, Universal Control System and Software. Its services include custom engineering, training, flight services, data services and varigard spraying. The Company’s wholly owned subsidiaries include Draganfly Innovations Inc., Draganfly Innovations USA, Inc. and Dronelogics Systems Inc.
Draganfly, Inc. engages in the manufacture and sale of commercial unmanned aerial vehicle systems and software serving the public safety, agriculture, industrial inspections, security, mapping, and surveying markets. The company is headquartered in Saskatoon, Saskatchewan and currently employs 41 full-time employees. The company went IPO on 2019-11-05. The company manufactures multi-rotor helicopters, industrial aerial video systems and civilian small unmanned aerial systems or vehicles. The Company’s products include Quadcopters, Draganfly Commander2, Vital Intelligence, Quantix Mapper, Tango2, Payloads and Sensors, Universal Control System and Software. Its services include custom engineering, training, flight services, data services and varigard spraying. The Company’s wholly owned subsidiaries include Draganfly Innovations Inc., Draganfly Innovations USA, Inc. and Dronelogics Systems Inc.
Revenue Decline: Q2 revenue was $1.9 million, down 19.8% year-over-year but up 19% quarter-over-quarter.
Gross Margin: Gross margin was 24.6% for Q2, impacted by a one-time inventory write-down; would have been 31.1% otherwise.
Comprehensive Loss: Total comprehensive loss for Q2 was $6.9 million, compared to income of $640,000 last year.
Production Expansion: New manufacturing facility in Saskatoon coming online, expected to more than double capacity and improve scaling.
Strong International Demand: Significant growth seen in markets like Ukraine and India, with demand for North American-made drones.
Product Pipeline: Two major new industrial drone products to be announced in September, driven by direct customer demand.
Supply Chain Management: Company is increasing inventory and adapting facilities to address ongoing supply chain challenges.