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Draganfly Broadcasts First Quarter Earnings
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The outcomes are constructive:
- Income for the primary quarter was $2.04 million, a rise of 32.8% year-over-year and 25% quarter-over-quarter.
- Gross margin proportion was 39.9% in comparison with 33.4% in Q1 2021.
- Web loss excluding non-cash costs was $5.83 million in comparison with a $3.89 million loss in Q1 2021.
- Money stability on the finish of March was $19.6 million.
The Drone Business is “Lastly Scaling”
“The underlying premise of the drone trade right this moment, versus the final 20 years that we’ve been in it’s that it’s lastly scaling,” stated CEO Cameron Chell through the earnings name.
“Within the final two years, two main issues have occurred within the drone trade. Initially, the FAA got here up with clear steerage round, specifically, past visible line of sight. The opposite factor that occurred, each from a sentiment and a coverage foundation is admittedly the appearance of the popularity that nothing collects information higher than a drone.”
Draganfly [NASDAQ: DPRO] is without doubt one of the holdings within the AdvisorShares Drone Know-how ETF [UAV], the one ETF devoted to the drone economic system. The AdvisorShares Drone Know-how ETF is a thematic funding technique searching for to seize the expansion alternatives in drones and autonomous automobiles (AV).
AdvisorShares is a DRONELIFE sponsor.
Learn extra about Draganfly:
Miriam McNabb is the Editor-in-Chief of DRONELIFE and CEO of JobForDrones, knowledgeable drone providers market, and a fascinated observer of the rising drone trade and the regulatory setting for drones. Miriam has penned over 3,000 articles targeted on the industrial drone area and is a global speaker and acknowledged determine within the trade. Miriam has a level from the College of Chicago and over 20 years of expertise in excessive tech gross sales and advertising and marketing for brand spanking new applied sciences.
For drone trade consulting or writing, E-mail Miriam.
TWITTER:@spaldingbarker
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