Vancouver, BC., May 8, 2025 (GLOBE NEWSWIRE) — Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8), a prominent developer of drone solutions and systems, has released its financial results for the first quarter of 2025. These results reveal both financial growth and strategic advancements in the company’s operations, demonstrating its continued influence in the technology and aerospace sectors.
Key Financial and Operational Highlights for Q1 2025:
Draganfly’s first quarter of 2025 showcased several financial achievements and strategic developments. The company reported a revenue of $1,547,715, marking a 16% increase from the previous year. In particular, product sales rose by 24.5%, reaching $1,541,811, indicating a strong demand for Draganfly’s innovative offerings.
The gross profit for Q1 stood at $310,088, reflecting a 10.7% rise from the prior year’s $280,011. Despite a slight decrease in the gross margin percentage to 20.0% from 21.1% in Q1 2024, this was influenced by the sales mix of the products sold. Notably, gross profit would have been $271,422, with a gross margin of 17.5%, without considering a one-time non-cash recovery of a write-down of inventory worth $38,666.
The comprehensive loss for the period was $3,433,712, which included several non-cash changes such as a positive change in fair value derivative of $157,830, a recovery of a write-down of inventory of $38,666, and an impairment gain on notes receivable of $25,951. Without these adjustments, the comprehensive loss would have been $3,656,159, slightly higher than the adjusted comprehensive loss of $3,559,976 from the same period last year. This increase was influenced by higher expenditures in research and development, office and miscellaneous expenses, professional fees, share-based payments, and wages, partially offset by changes in derivative liability.
As of March 31, 2025, Draganfly’s cash balance was $2,126,103, compared to $6,252,409 on December 31, 2024. This reduction highlights significant investments and operational expenses undertaken by the company.
A noteworthy strategic development was Draganfly’s partnership with Volatus Aerospace. This collaboration involved integrating Volatus’ advanced Bathymetric LiDAR technology with Draganfly’s Heavy Lift Drone for a pilot project in oil and gas exploration. This initiative aims to enhance precision data acquisition within the energy sector. Furthermore, Volatus has become an OEM-approved dealer for Draganfly’s UAV platforms, including the Heavy Lift Drone, Commander 3XL, and Apex Drones.
Draganfly also obtained a waiver from the FAA under 14 CFR §§ 107.39 and 107.145, enabling its drones to operate over people and moving vehicles. This waiver facilitates advanced UAV operations in complex urban environments, expanding Draganfly’s operational capabilities.
Building on their existing partnership, Draganfly and Volatus Aerospace announced an expanded collaboration to meet the growing demand for automated geospatial data collection and analysis solutions in the utility infrastructure sector. This alliance combines Volatus’ operational expertise with Draganfly’s advanced sensor technology, enhancing services for power utility customers.
To further its reach, Draganfly announced the establishment of a new facility in Tampa, Florida. This facility is strategically located near key military and government clients and includes a demonstration and live-fire testing facility. This expansion underscores Draganfly’s commitment to providing cutting-edge drone solutions and strengthening national security and defense partnerships.
In another significant development, the Massachusetts Department of Transportation’s Aeronautics Division selected Draganfly to conduct a drone medical delivery demonstration. This demonstration, which was successfully completed, simulated the delivery of medical supplies to support home-based healthcare, showcasing the potential of UAVs in healthcare logistics.
Adding to its strategic initiatives, Draganfly appointed Christopher C. Miller, former Acting U.S. Secretary of Defense under President Donald Trump, to its Board of Directors. Miller’s extensive experience in defense and intelligence is expected to guide Draganfly’s strategic initiatives across government, defense, and aerospace sectors.
Draganfly will conduct a shareholder update and earnings call on May 8, 2025, at 2:30 p.m. PDT / 5:30 p.m. EDT. Stakeholders can register for the call via the provided link.
Selected Financial Information:
The financial information for Q1 2025 should be reviewed alongside Draganfly’s consolidated financial statements for the quarter ended March 31, 2025. These documents, along with associated management discussions and analyses, are accessible under the company’s profile on SEDAR at www.sedar.com and filed on EDGAR at www.sec.gov.
For the quarter ending March 31, 2025, Draganfly reported revenues of $1,547,715 compared to $1,329,581 for the same period in 2024. The gross margin as a percentage of revenues was 20.0% compared to 21.1% in the previous year. The net loss for the period was $3,424,825, translating to a loss per share of $0.63, both basic and diluted.
As of March 31, 2025, Draganfly’s total assets were valued at $6,919,097, with working capital of $705,243 and total non-current liabilities of $296,067. Shareholders’ equity stood at $1,476,648, with 5,433,824 shares outstanding.
Draganfly’s Future Prospects:
Draganfly continues to demonstrate its commitment to innovation and strategic growth. The company’s focus on expanding its capabilities through partnerships, technological advancements, and strategic expansions positions it well for future success. Draganfly’s cutting-edge drone solutions and systems are at the forefront of revolutionizing industries such as public safety, public health, mining, agriculture, industrial inspections, security, mapping, and surveying.
With a history of over 25 years of technological leadership, Draganfly is driven by a passion for providing efficient solutions and first-class services to its global customers. The company’s efforts are geared towards saving time, money, and lives, reinforcing its position as a leader in the UAV industry.
For more detailed information, Draganfly’s financial statements and analyses can be accessed on the SEDAR and EDGAR platforms. Readers are encouraged to review these documents for a comprehensive understanding of the company’s financial performance and strategic direction.
In conclusion, Draganfly’s Q1 2025 results highlight its ongoing growth and strategic initiatives, setting a strong foundation for continued success in the rapidly evolving drone technology market.
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