Draganfly Announces 30% Quarter Over Quarter Revenue Increase with Second Quarter Results for 2024

(1)  Gross Profit (as a % of revenues) would have been 34.4% and 31.1% not including a non-cash write down of inventory for $134,410 and $122,600 respectively for the three-month period ending June 30, 2024 and 2023. Gross Profit (as a % of revenues) would have been 33.5% and 31.7% not including a non-cash write down of inventory for $283,169 and $199,647 respectively for the six-month period ending June 30, 2024 and 2023.

As at      June 30, 2024 December 31, 2023
Total assets     $ 9,900,539 $8,330,292 
Working capital      (3,690,940 ) (717,017)
Total non-current liabilities      441,053  523,584 
Shareholders’ equity     $ (2,622,137 )$407,716 
Number of shares outstanding  75,399,769  49,229,563 


Shareholders’ equity and working capital as at June 30, 2024, includes a fair value of derivative liability of $9,382,960 (2023 - $4,196,125) and would otherwise be $6,760,823 (2023 - $4,603,841) and $5,692,020 (2023 - $3,479,108), respectively.

   2024 Q2 2024 Q1 2023 Q2
Revenue $ 1,732,990 $1,329,581 $1,899,039 
Cost of sales(2) $ (1,271,317 ) $ (1,049,570 ) $ (1,431,922 )
Gross profit (3) $ 461,673   $ 280,011   $ 467,117  
Gross margin – percentage   26.6 %   21.1 %   24.6 %
Operating expenses $ (4,395,923 ) $ (3,530,933 ) $ (7,234,034 )
Operating income (loss) $ (3,934,250 ) $ (3,250,922 ) $ (6,766,917 )
Operating loss per share - basic $ (0.05 ) $ (0.05 ) $ (0.16 )
Operating loss per share - diluted $ (0.05 ) $ (0.05 ) $ (0.16 )
Other income (expense) $ (3,157,299 ) $ 1,387,114   $ (142,046 )
Change in fair value of derivative liability (1) $ (2,604,394 ) $ 1,817,569   $ -  
Other comprehensive income (loss) $ (6,089 ) $ (20,608 ) $ 18,152  
Comprehensive income (loss) $ (7,097,638 ) $ (1,884,416 ) $ (6,890,812 )
Comprehensive income (loss) per share - basic $ (0.10 ) $ (0.03 ) $ (0.16 )
Comprehensive income (loss) per share - diluted $ (0.10 ) $ (0.03

)

$ (0.16 )

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