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Message: Draganfly Announces Record Q3-23 Results With Revenue of Over $2.1 Million

Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8A), a pioneering force in drone solutions and systems development, has unveiled its remarkable third quarter financial results, showcasing a 14.0% increase in revenue compared to the same period last year. The company's impressive performance underscores its position as an industry leader in the rapidly evolving drone technology sector.

 

With over 24 years of trailblazing technology expertise, Draganfly is synonymous with innovation. The company's portfolio spans across diverse sectors including public safety, public health, mining, agriculture, industrial inspections, security, mapping, and surveying. Draganfly's relentless pursuit of efficient solutions and exceptional services has garnered it a reputation for saving both time and lives.

 

Key Highlights and Advantages

 

The third quarter of 2023 witnessed a substantial surge in revenue, totaling $2,138,017, marking a 14.0% growth from the corresponding period in 2022. This impressive figure comprises $1,653,111 from product sales and $484,906 from drone services. The company's gross profit surged by 42.7% year-on-year, reaching $894,683, predominantly driven by heightened product sales.

 

What sets Draganfly's Q3 performance apart is the remarkable increase in gross margin, climbing to 41.8% from 33.4% in 2022. This notable achievement is attributed to strategic inventory sales and a one-time non-cash write down of inventory.

 

Potential Impact and Significance

 

Draganfly's foray into the defense sector is a pivotal milestone. The successful integration of their Commander 3 XL drones with the U.S. Military signifies a new era in confident and precise navigation through challenging terrains. Additionally, the company's NDAA-compliant Commander 3XL Platform cements Draganfly's commitment to stringent security and regulatory standards.

 

Expert Opinions and Analysis

 

Industry experts have weighed in on Draganfly's accomplishments. One notable endorsement comes from Cameron Chell, the President and CEO of Draganfly, who emphasized the vital role of their drone technology in disaster management, particularly in flood and wildfire response efforts. These testimonials affirm the company's impact on critical areas of public safety and security.

 

Draganfly's record-breaking third quarter results demonstrate not only a significant leap in revenue but also a reinforced position as a frontrunner in the drone technology sector. The successful foray into defense, energy, geological, and public safety sectors, along with the launch of the Commander 3 XL Hybrid, solidify Draganfly's status as a driving force in the industry.

 

Investors and the broader business community can look forward to the company's ongoing efforts to revolutionize industries and save lives through cutting-edge drone technology.

 

View Original Release: https://www.stockwatch.com/News/Item/Z-C!DPRO-3477271/C/DPRO?&fmt=orig

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