Draganfly Announces Third Quarter Results for 2024

(1) Gross Profit (as a % of revenues) would have been 32.7% and 42.2% not including a non-cash write down of inventory for $176,422 and $8,600 respectively for the three-month period ending September 30, 2024 and 2023. Gross Profit (as a % of revenues) would have been 33.2% and 35.7% not including a non-cash write down of inventory for $459,591 and $208,247 respectively for the nine-month period ending September 30, 2024 and 2023.

As at      September 30, 2024 December 31, 2023
Total assets     $ 8,528,719$8,330,292 
Working capital      3,549,345 (717,017)
Total non-current liabilities      382,520 523,584 
Shareholders’ equity     $ 4,360,959$407,716 
Number of shares outstanding  3,825,208 1,969,183 


(1) Shareholders’ equity and working capital as at September 30, 2024, includes a fair value of derivative liability of $1,252,005 (2023 - $4,196,125) and would otherwise be $5,612,964 (2023 - $4,603,841) and $4,801,350 (2023 - $3,479,108), respectively.

   2024 Q3 2024 Q2 2023 Q3
Revenue $ 1,885,322 $1,732,990 $ 2,138,017 
Cost of sales(2) $ (1,444,542 )$(1,271,317) $ (1,243,334 )
Gross profit ( 3) $ 440,780   $ 461,673   $ 894,683  
Gross margin – percentage   23.4 %   26.6 %   41.8 %
Operating expenses $ (4,125,078 ) $ (4,395,923 ) $ (6,356,139 )
Operating income (loss) $ (3,684,298 ) $ (3,934,250 ) $ (5,461,456 )
Operating loss per share - basic $ (1.10 ) $ (1.38 ) $ (3.14 )
Operating loss per share - diluted $ (1.10 ) $ (1.38 ) $ (3.14 )
Other income (expense) $ 3,484,104   $ (3,157,299 ) $ 14,571  
Change in fair value of derivative liability (1) $ 3,575,559   $ (2,604,394 ) $ -  
Other comprehensive income (loss) $ (164,355 ) $ (6,089 ) $ (83,363 )
Comprehensive income (loss) $ (364,549 ) $ (7,097,638 ) $ (5,530,248 )
Comprehensive income (loss) per share - basic $ (0.11 ) $ (2.51 ) $ (3.18 )
Comprehensive income (loss) per share - diluted $ (0.11 ) $ (2.51 ) $ (3.18 )



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