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Draganfly First Quarter Earnings – DRONELIFE

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Draganfly first quarter earningsDraganfly Publicizes First Quarter Earnings

Draganfly Inc., a producer of business unmanned aerial automobiles and drone providers firm, introduced its first quarter outcomes on Could 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 proportion was 39.9% in comparison with 33.4% in Q1 2021.
  •  Internet loss excluding non-cash costs 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 Business is “Lastly Scaling”

“The underlying premise of the drone business as we speak, versus the final 20 years that we’ve been in it’s that it’s lastly scaling,” mentioned 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 actually the appearance of the popularity that nothing collects information higher than a drone.”

Draganfly [NASDAQ: DPRO] is among the holdings within the AdvisorShares Drone Know-how ETF [UAV], the one ETF devoted to the drone economic 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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