Draganfly Earnings Q2 2022 – DRONELIFE
Draganfly Announces Second Quarter Earnings
Draganfly Inc. [NASDAQ:DPRO] is one of the holdings in the AdvisorShares Drone Technology ETF [NYSE ARCA:UAV], the only ETF dedicated to the drone economy. The AdvisorShares Drone Technology ETF is a thematic investment strategy seeking to capture the growth opportunities in drones and autonomous vehicles (AV). AdvisorShares is a DRONELIFE sponsor.
Draganfly Inc., the innovative drone hardware and services company, announced its second quarter results on August 9, 2022.
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The key points from the Draganfly earnings call:
- Revenue for the first quarter was $2.37 million, an increase of 19.6% year-over-year.
- Gross margin was 42.8% compared to 36.8% in Q1 2021.
- Net loss excluding non-cash charges was $5.45 million compared to a $3.27 million loss in Q1 2021.
- Cash balance at the end of March was $16.2 million.
During the quarter, Draganfly released three new products, including a heavy lift…