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Draganfly First Quarter Earnings – DRONELIFE

Draganfly first quarter earningsDraganfly Broadcasts First Quarter Earnings

Draganfly Inc., a producer of business unmanned aerial automobiles and drone providers firm, introduced its first quarter outcomes on Might 10, 2022.

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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.

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