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Draganfly Inc. (DPRO) is a global leader in the development and manufacturing of unmanned aerial vehicle (UAV) systems, software, and engineering services. Headquartered in Canada, the company has established a significant presence in the United States and internationally. Draganfly operates through three primary segments: Drones, Vital Intelligence, and Corporate.
The Drones segment is the cornerstone of Draganfly's operations, generating the majority of the company's revenue. This segment focuses on the production and sales of cutting-edge UAVs, catering to both hobbyists and industrial clients. Draganfly's drones are utilized in various applications, from recreational flying to critical missions involving emergency services, where they help make dangerous situations safer for personnel.
The Vital Intelligence segment leverages advanced technology to provide products that can measure vital signs from a distance, aiding in the early detection of symptoms among large groups. This innovative approach is particularly useful in public health scenarios, offering a non-invasive method to monitor the health of populations.
The Corporate segment encompasses all costs and activities not directly tied to the Drones or Vital Intelligence segments. This includes administrative functions and strategic initiatives aimed at supporting the overall growth and sustainability of the company.
Draganfly has made significant strides in recent years, achieving key financial and operational milestones. The company continues to expand its product offerings and forge strategic partnerships, positioning itself as a pioneer in the UAV industry. For instance, recent financial highlights for Q4 2023 and early 2024 underscore Draganfly's robust performance and growth trajectory.
Investors and stakeholders can stay informed about Draganfly's developments by visiting the company's official website at www.draganfly.com. For additional investor information, the company's profiles on the CSE, NASDAQ, and Börse Frankfurt are excellent resources.
For media inquiries, please contact Arian Hopkins at media@draganfly.com. Company-related queries can be directed to info@draganfly.com.
Draganfly Inc. (NASDAQ: DPRO) has successfully completed initial proof-of-concept flights for a drone delivery research project with Mass General Brigham (MGB) Home Hospital. The project's first phase, focused on the greater Boston area, involved route mapping and test flights within hospital infrastructure to evaluate how drone deliveries could improve access to medical supplies and laboratory samples.
The initiative aims to address healthcare logistics challenges by reducing delays caused by traffic congestion and outdated delivery methods. While these initial test flights did not contribute to care delivery, they represent a significant step toward developing more efficient healthcare delivery systems. Draganfly also showcased its medical delivery technologies at the World Medical Innovation Forum in Boston.
Draganfly has closed a registered direct offering of 1,600,000 units at US$2.35 per unit, raising gross proceeds of US$3.76 million. Each unit consists of one common share (or pre-funded warrant) and one warrant to purchase one common share. The warrants have an exercise price of CA$3.3086 (US$2.35), exercisable immediately with a five-year expiration. Additionally, the company amended the exercise price of existing warrants from previous offerings to CA$3.3086. The net proceeds will be used for general corporate purposes, including product development, marketing, potential acquisitions, and working capital requirements.
Draganfly (NASDAQ: DPRO) has announced a US$3.76 million registered direct offering through a securities purchase agreement with a single institutional investor. The offering includes 1,600,000 units at US$2.35 per unit, with each unit comprising one common share (or pre-funded warrant) and one warrant. The warrants have an exercise price of CA$3.3086 (US$2.35), exercisable immediately with a five-year expiration. Additionally, the company will amend previous warrants from October 2023, May 2024, and August 2024 to reduce their exercise price to CA$3.3086. The proceeds will fund new product development, marketing, potential acquisitions, and working capital requirements.
Draganfly reported Q3 2024 revenue of $1,885,322, an 8.9% quarter-over-quarter increase, primarily driven by product sales of $1,328,675. Gross profit was $440,780, down 50.7% year-over-year, with a gross margin of 23.4%. The company recorded a comprehensive loss of $364,549, significantly improved from a $5,530,248 loss in Q3 2023. Notable developments include a 1-for-25 share consolidation, the launch of the APEX Drone for military applications, and partnerships with Nightingale Security for oil and gas sector solutions. Cash balance stood at $3,997,577 as of September 30, 2024.
Draganfly (NASDAQ: DPRO) announced it will host a shareholder update call on November 14th, 2024, at 5:30pm EST. CEO Cameron Chell will review company milestones, while CFO Paul Sun will present Q3 2024 financial results, which will be filed after market close on the same day. Lead Director Scott Larson will manage the Q&A session, addressing both pre-submitted and live chat questions. Shareholders can submit questions in advance to investor.relations@draganfly.com.
Draganfly announces its participation in ElevateUAV, scheduled for November 12-14, 2024, at the FIU Kovens Conference Center in Miami, Florida. The company will provide specialized training on two flagship platforms: the Flex FPV and Commander 3XL during this three-day education program hosted by Drone Nerds.
The training will focus on maximizing the potential of Draganfly's platforms, with the Flex FPV known for complex environment operations and the Commander 3XL featuring a 23-pound payload capacity for high-demand missions. The event includes live flight demonstrations and networking opportunities with industry innovators advancing UAV technology.
Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A), a leading drone solutions developer, will participate in the Wings of Saskatchewan event in Regina from October 30 to 31, 2024. The company will showcase its latest drone technology advancements and contribute to discussions on industry trends, safety, and regulatory considerations.
The conference, hosted by the Saskatchewan Aerial Applicators Association and the Saskatchewan Aviation Council, brings together leaders from civil and commercial aviation sectors. Draganfly will emphasize the need for synergy across the aviation industry, addressing topics such as airspace safety and regulatory challenges impacting the drone sector.
Draganfly will feature its newest UAV systems, including the APEX Drone and the Commander 3XL, demonstrating their applications in surveying, environmental monitoring, and search and rescue operations.
Draganfly Inc. (NASDAQ: DPRO) has announced updates to its Board of Directors and Advisory Board. Kim Moody has been appointed as the new Audit Chair, replacing Olen Aasen who is stepping down. Andy Card, former White House Chief of Staff, is rejoining the company's Advisory Board.
New committee appointments include Julie Myers Wood as head of the Compensation Committee, Tim Dunnigan joining the Audit Committee, and Thomas B. Modly serving on the Audit and Nominating Committee. These additions bring extensive experience in defense, government, and leadership to Draganfly's board.
CEO Cameron Chell expressed enthusiasm for the new appointments, stating that they position Draganfly to leverage its advanced drone technology in defense applications and address emerging challenges in national security.
Draganfly Inc. (NASDAQ: DPRO) has received a purchase order from TB2 Aerospace for Commander 3XL Drones to be deployed with TB2 Drone Recharging Operational Payload System Pods (DROPS) within the U.S. Department of Defense. The Commander 3XL will be used for various logistics missions, serving as a primary transport vehicle for TB2 Aerospace's smart logistics PODs.
This order marks the beginning of the deployment and scaling of the DROPs system with Draganfly's drone line. Draganfly's drones are interoperable, offering operators various aircraft sizes, payload capacities, and weight configurations with common communication, counter electronic warfare options, and mission planning software.
The collaboration between TB2 Aerospace and Draganfly integrates TB2's DROPS Pods on Draganfly's drones, positioning Draganfly as a primary transport vehicle for TB2 Aerospace deployments within the DoD. This partnership aims to reduce operational and training costs for the DoD while standardizing the supply chain.
Draganfly Inc. (NASDAQ: DPRO) and Nightingale Security have been selected by a Fortune 25 oil and gas company to develop a fully automated UAS solution for infrastructure monitoring. The project aims to enhance operational efficiency and safety in the oil and gas sector through advanced remote sensing technology.
The integrated solution will feature the Draganfly APEX, an advanced UAV platform, equipped with a custom sensor package including Optical Gas Imaging (OGI), Tunable Diode Laser Absorption Spectroscopy (TDLAS), thermal, and RGB sensors. This combination will enable real-time monitoring of critical infrastructure, detecting leaks, emissions, and structural abnormalities with high precision.
The first phase of sensor validation and selection has been completed, with demonstration and in-field testing scheduled through the end of the year. Future phases will integrate the Draganfly APEX with Nightingale Security's Drone in a Box flight software, creating a fully automated advanced remote sensing system for monitoring infrastructure in remote, hazardous, and RF-challenged environments.
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