Draganfly Inc (NAS:DPRO)

Q3 2024 Draganfly Inc Earnings Call Transcript

Nov 14, 2024 / 10:30 PM GMT

Release Date Price: $2.66 (+2.31%)

Transcript

Key Points

Positve

Draganfly Inc (DPRO) reported its best Q3 ever with a revenue of $1.885 million, highlighting strong seasonal performance.
The company has a stable financial position with cash on hand of nearly $4 million.
Draganfly Inc (DPRO) launched the APEX Drone, which has significant demand and fits into a strategic market niche.
The company secured a major client, a Fortune 50 oil and gas company, for its drone-in-a-box solution, indicating potential for large-scale deployments.
Draganfly Inc (DPRO) is experiencing increased demand for its drones in military and law enforcement sectors, with new use cases emerging regularly.

Negative

Revenue decreased by 11.8% year-over-year, from $2.1 million in Q3 2023 to $1.9 million in Q3 2024.
Gross profit dropped significantly from $895,000 in Q3 2023 to $441,000 in Q3 2024, partly due to inventory write-downs.
The company reported a comprehensive loss of $365,000 for the quarter, despite a gain from derivative liability adjustments.
Supply chain issues are re-emerging, potentially affecting future operations, although they have not yet impacted Draganfly Inc (DPRO) directly.
The market for small surveillance drones is highly competitive and dominated by Chinese manufacturers, leading Draganfly Inc (DPRO) to avoid this segment.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

DPRO.CD - Draganfly Inc
Q3 2024 Draganfly Inc Earnings Call
Nov 14, 2024 / 10:30PM GMT

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Conference Call Participants
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* Rolly Bustos
Draganfly Inc - Head, Internal Investor Relations
* Cameron Chell
Draganfly Inc - President, Chief Executive Officer, Director
* Paul Sun
Draganfly Inc - Chief Financial Officer
* Scott Larson
Draganfly Inc - Director

=====================
Presentation
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Rolly Bustos, Draganfly Inc - Head, Internal Investor Relations [1]
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Okay. To be respectful of everybody's time, I think we will get started today. So as always, greetings, and welcome to all the shareholders and stakeholders on today's Draganfly 2024 Q3 earnings call. My name is Rolly Bustos, and I am the Internal Investor Relations representative here at Draganfly. We

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