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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), a leading drone solutions developer, has announced a shareholder update call scheduled for August 13th, 2024, at 5:30pm EST. The call will feature CEO Cameron Chell discussing company milestones and CFO Paul Sun reviewing Q2 2024 financial results, which are set to be filed after market close on the same day. Shareholders are invited to pre-submit questions for the Q&A session. This event provides an opportunity for investors to gain insights into Draganfly's recent performance and future outlook directly from the company's leadership.
Draganfly Inc. (NASDAQ: DPRO) has delivered its Advanced Commander 3XL drone and modular payloads to Squamish Search and Rescue (SSAR), marking a significant enhancement in First Responder capabilities. The company is conducting comprehensive training with SSAR team members, focusing on various region-specific scenarios including front and backcountry rescue, critical goods delivery, and swift water rescue.
CEO Cameron Chell emphasized this deployment as the first of many, showcasing Draganfly's commitment to leveraging advanced UAV technology for search and rescue operations. SSAR's Director of Technology, Lianne Girard, expressed excitement about the new tools' potential.
Additionally, Draganfly has amended certain provisions of its previously issued warrants to potentially improve their treatment as shareholder's equity on the company's balance sheet.
Draganfly Inc. (NASDAQ: DPRO) has announced two significant additions to its Board of Directors. Thomas B. Modly, former Acting Secretary and Under Secretary of the U.S. Navy, and Tim Dunnigan, a defense and tech leader, have joined the board. Modly brings extensive experience in leadership and business operations within the Department of Navy, while Dunnigan, previously on Draganfly's Advisory Board, offers valuable insights from his 22-year Army career and entrepreneurial ventures in the defense industry.
CEO Cameron Chell expressed enthusiasm about these appointments, highlighting the strategic value of their combined expertise in military leadership, technology innovation, and business operations. Both new board members shared their excitement about contributing to Draganfly's growth and innovation in the UAV industry.
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.
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