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Draganfly First Quarter Earnings – DRONELIFE

Draganfly first quarter earningsDraganfly Proclaims First Quarter Earnings

Draganfly Inc., a producer of economic 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 share was 39.9% in comparison with 33.4% in Q1 2021.
  •  Web loss excluding non-cash fees 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 Trade is “Lastly Scaling”

“The underlying premise of the drone business 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 business. To start with, the FAA got here up with clear steerage round, particularly, past visible line of sight. The opposite factor that occurred, each from a sentiment and a coverage foundation is basically the arrival of the popularity that nothing collects knowledge higher than a drone.”

Draganfly [NASDAQ: DPRO] is likely one of the holdings within the AdvisorShares Drone Know-how ETF [UAV], the one ETF devoted to the drone financial system. The AdvisorShares Drone Know-how ETF is a thematic funding technique in search of to seize the expansion alternatives in drones and autonomous automobiles (AV).

AdvisorShares is a DRONELIFE sponsor.

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