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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) held its annual general meeting on July 18, 2024, in Vancouver. Shareholders elected six directors to the Board: Cameron Chell, Scott Larson, Denis Silva, Olen Aasen, Julie Myers Wood, and Kim G C Moody. The company appointed Dale Matheson Carr-Hilton Labonte LLP as auditors.
Key updates include:
- Kim G C Moody joined as a new Director
- Scott Larson appointed as Interim Chair of the Board
- Olen Aasen named Lead Independent Director
- John Mitnick and Andy Card departed from the Board
CEO Cameron Chell expressed enthusiasm about Moody's appointment, citing his expertise in accounting, tax, and trust and estate planning.
Draganfly has been selected by First Atlantic Nickel Corp to aid in the exploration of a potential district-scale awaruite nickel deposit in Atlantic Canada. Utilizing its proprietary drone survey technology, Draganfly aims to identify key mineralization zones within First Atlantic Nickel's 30km nickel-bearing system. CEO Cameron Chell emphasized the role of AI-powered data collection in their long-term strategy. This collaboration will provide high-resolution data to support First Atlantic Nickel's 2024 summer exploration and drilling program, potentially strengthening North America's critical mineral supply chains.
First Atlantic Nickel has announced the strategic partnership with Draganfly to utilize their advanced drone technology for the Atlantic Nickel Project in Newfoundland, Canada. Draganfly will conduct advanced aerial surveys, including a magnetic geophysical survey, to identify high-priority nickel target areas. The project covers a 30-kilometer nickel-bearing ultramafic trend with proven nickel values, aiming to accelerate exploration and potential discovery. Draganfly's drones, equipped with advanced sensors, offer capabilities such as high payload capacity and tolerance to extreme weather conditions. The partnership supports First Atlantic's long-term strategy to leverage AI-powered data for efficient exploration.
Draganfly (NASDAQ: DPRO) announced that CEO Cameron Chell will present at the 'Charting the Course: Navigating the Intersection of TMT and Business in the AI Era' Conference, hosted by Maxim Group Scheduled for June 4-5, 2024, the event will focus on how emerging growth companies, including those in drone technology, are leveraging AI to drive innovation. The conference will feature discussions on technology's impact across various industries, with participation from key management and analysts. Draganfly aims to highlight its advancements in UAV technology during the live broadcast on M-Vest.
Draganfly (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8A), a leader in drone technology and UAV solutions, will present at the Centurion One Los Angeles Summit 2024, held at the Beverly Hills Hotel on June 5-6. CEO Cameron Chell will deliver a keynote at 1:00 PM on June 5, focusing on the company's drone solutions across various sectors including defence, public safety, agriculture, industrial inspections, security, mapping and surveying. Chell will also join a panel on scaling business on June 6 at 2:50 PM. The event will gather public and private companies, venture capital, family offices, private equity firms, high-net-worth individuals, and institutional investors.
Draganfly Inc. (NASDAQ: DPRO) reported its Q1 2024 results, showcasing key financial metrics and operational highlights. The company recorded a revenue of $1.33 million, a 45% increase quarter-over-quarter but a 17% decline year-over-year. The gross profit stood at $280,011, down from $443,434 in Q1 2023, with a gross margin of 21.1%. A one-time inventory write-down of $148,760 impacted gross margin, which would have been 32.2% otherwise.
The comprehensive loss reduced significantly to $1.88 million from $7.10 million in Q1 2023. Cash balance improved to $4.34 million as of March 31, 2024, up from $3.09 million at the end of 2023.
The company secured several key agreements, including a partnership with Mass General Brigham for drone delivery in healthcare and Arabian Aero Investment for UAV integration in UAE's solar-powered platform. Draganfly also received accolades for its Commander 3XL drone and completed a $3.6 million public offering to fund growth initiatives.
Draganfly Inc. (NASDAQ: DPRO) will host a shareholder update call on May 14, 2024, to review milestones and financial results for Q1 2024. CEO Cameron Chell and CFO Paul Sun will lead the call, with Lead Director Scott Larson facilitating Q&A. Investors can register and submit questions via investor.relations@draganfly.com.
Draganfly Inc. has unveiled its new NDAA-compliant FlexForce Modular FPV System, designed for Government & Military users, following successful demonstrations and training. The system features quick-exchange assemblies in various configurations, offering dynamic flight capabilities, payload capacities, and speeds. The FlexForce Core supports multiple flight modes and features advanced technologies for aerial reconnaissance and surveillance applications. The system was showcased during a recent FPV UAV Training & Demonstration Event, with exclusive availability to Government and Military clients. Draganfly remains committed to supporting critical missions through innovative drone solutions.
Draganfly Inc. will showcase its latest UAV technology at SOF Week 2024, aimed at the international Special Operations Forces community in Tampa, Florida. The event will highlight the Commander 3XL Drone and integration with Vermeer's VPS, enhancing navigation capabilities. Draganfly's commitment to innovation in UAV technology will be on display, offering tailored solutions for military and government agencies.
Draganfly Inc. announced the closing of a US$3.5 million registered direct offering, selling 13,513,514 units at a price of US$0.259 per unit. The Offering will be used for general corporate purposes and to fund new product demand, growth initiatives, and working capital requirements.
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