Draganfly Earnings Q2 2022 – DRONELIFE

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The important thing factors from the Draganfly earnings name:

• Income for the primary quarter was $2.37 million, a rise of 19.6% year-over-year.
• Gross margin was 42.8% in comparison with 36.8% in Q1 2021.
• Web loss excluding non-cash expenses was $5.45 million in comparison with a $3.27 million loss in Q1 2021.
• Money stability on the finish of March was $16.2 million.

In the course of the quarter, Draganfly launched three new merchandise, together with a heavy elevate drone that has a capability of 67 kilos. The corporate additionally continued its efforts in Ukraine and is delivering new items about each three weeks.

Draganfly continues to make progress on the Digital Dream Labs contract as effectively and may begin seeing income by Q1. The contract, introduced in October of final yr, known as for a minimal $9 million manufacturing settlement to design and develop an AI shopper robotic drone.

CEO Cameron Chell instructed stakeholders that the drone trade was lastly starting to develop scale and reside as much as market projections:

“So we do see – and for the primary time, consider –  these trade projections of going to $40 billion or having the potential to go to $40 billion by 2028,” sayid Chell.  “The constraining merchandise there’s not demand, which is actually thrilling. The constraining merchandise there’s infrastructure capability, regulation, the power — provide chain, the issues to maintain as much as the demand.”

“…the trade in the present day nonetheless is extremely fragmented. The business market, specifically, is at an inflection level, the place it’s the place nearly all of the expansion goes to be occurring…They’re not a matter of promoting $100,000 or $230,000 or $50,000 drone items. They’re multimillion, multiyear alternatives. And people are nearly all of the sorts of contracts that we are actually engaged on.”

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