Draganfly Announces Third Quarter Results
Key Highlights
- ➤Q3 revenue $2.05 million, down 5.0% year over year
- ➤Q3 gross profit $128,957, down 69.4%; gross margin fell to 6.3%
- ➤Q3 comprehensive loss $13.03 million versus $5.43 million last year
- ➤Cash balance $128.6 million at September 30, up from $90.2 million year-end
- ➤Canada selected Draganfly to supply up to 5,000 tactical ISR systems
Expert Statements
Cameron Chell, Chief Executive Officer of Draganfly
“We are at an important stage in Draganfly’s evolution as we position the Company to compete for larger, more complex defence and government programs. This has required us to make deliberate decisions about where we direct our resources, prioritizing opportunities with the potential to create greater long-term value over certain shorter-term revenue opportunities,”
Cameron Chell, Chief Executive Officer of Draganfly
“While these programs involve longer procurement cycles and do not always translate into immediate revenue, we are beginning to see meaningful progress from this approach. Our selection by the Canadian Armed Forces, along with our expanding presence in the U.S. defence market, reflects the capabilities, relationships and market position we have been building. Our priority is now to execute on these opportunities, deliver for our customers and translate that progress into sustainable growth.”
Vancouver, BC., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (“Draganfly” or the “Company”), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its third quarter financial results.
Key Financial and Operational Highlights for Q3 2026: * Revenue for the third quarter of 2026 was $2,048,425, which represents a 5.0% year over year decrease primarily attributed to services revenues. Product sales of $1,612,329 were almost flat compared to the same period last year. * Gross profit for Q3 2026 was $128,957, down 69.4% from $420,947 for the same period last year. Gross margin percentage for Q3 2026 was 6.3% compared to 19.5% in Q3 2025. Gross profit would have been $495,566 and gross margin would have been 24.2%, not including a one-time non-cash write down of inventory of $366,609 in Q3 2026. Gross profit would have been $464,284 and gross margin would have been 21.5%, not including a one-time non-cash write down of inventory of $43,337 in Q3 2025. After excluding the one-time non-cash write-downs, the increase in gross profit and gross margin year over year is due to the sales mix of the products and services sold. * The comprehensive loss for the period of $13,032,744 includes non-cash changes comprised of a negative change in fair value derivative of $56,707 and a write down of inventory of $366,609 and would otherwise be a comprehensive loss of $12,609,428 compared to an adjusted comprehensive loss of $3,579,510 for the same period last year. The primary contributors to the year-over-year increase are increased office and miscellaneous, share-based payments, travel, and employee and management costs. * Cash balance as at September 30, 2026, of $128,605,465 compared to $90,156,821 as at December 31, 2025. Business and Strategic Update
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