Registration for the call can be done Here Selected financial information is outlined below and should be read with Draganfly’s consolidated financial statements for the quarter ended June 30, 2024, and associated management discussion and analysis, which will be available under the Company's profile on SEDAR at filed on EDGAR at Three months ended June 30,Six months ended June 30, 2024 2023 2024 2023 Total revenues$1,732,990 $1,899,039 $3,062,571 $3,500,525 Gross Margin (as a % of revenues) (1) 26.6% 24.6% 24.2% 26.0%Net income (loss) (7,091,549) (6,908,964) (8,955,537) (13,976,590)Net income (loss) per share ($) Basic (0.10) (0.16) (0.14) (0.36) Diluted (0.10) (0.16) (0.14) (0.36)Comprehensive income (loss) (7,097,638) (6,890,812) (8,982,054) (13,987,807)Comprehensive income (loss) per share ($) Basic (0.10) (0.20) (0.14) (0.40) Diluted (0.10) (0.20) (0.14) (0.40)Change in cash and cash equivalents$950,811 (6,647,812)$2,196,935 $1,173,657 (1) Gross Profit (as a % of revenues) would have been 34.4% and 31.1% not including a non-cash write down of inventory for $134,410 and $122,600 respectively for the three-month period ending June 30, 2024 and 2023.
As at June 30, 2024 December 31, 2023Total assets $9,900,539 $8,330,292 Working capital (3,690,940) (717,017)Total non-current liabilities 441,053 523,584 Shareholders’ equity $(2,622,137)$407,716 Number of shares outstanding 75,399,769 49,229,563 Shareholders’ equity and working capital as at June 30, 2024, includes a fair value of derivative liability of $9,382,960 (2023 - $4,196,125) and would otherwise be $6,760,823 (2023 - $4,603,841) and $5,692,020 (2023 - $3,479,108), respectively. 2024 Q2 2024 Q1 2023 Q2Revenue$1,732,990 $1,329,581 $1,899,039 Cost of sales(2)$(1,271,317)$(1,049,570)$(1,431,922)Gross profit(3)$461,673 $280,011 $467,117 Gross margin – percentage 26.6% 21.1% 24.6%Operating expenses$(4,395,923)$(3,530,933)$(7,234,034)Operating income (loss)$(3,934,250)$(3,250,922)$(6,766,917)Operating loss per share - basic$(0.05)$(0.05)$(0.16)Operating loss per share - diluted$(0.05)$(0.05)$(0.16)Other income (expense)$(3,157,299)$1,387,114 $(142,046)Change in fair value of derivative liability (1)$(2,604,394)$1,817,569 $- Other comprehensive income (loss)$(6,089)$(20,608)$18,152 Comprehensive income (loss)$(7,097,638)$(1,884,416)$(6,890,812)Comprehensive income (loss) per share - basic$(0.10)$(0.03)$(0.16)Comprehensive income (loss) per share - diluted$(0.10)$(0.03)$(0.16) (1) Included in other income (expense).(2) Cost of goods sold would have been $1,136,907 in Q2 2024 not including a non-cash write down of inventory for $134,410.
Forward-looking statements and information are subject to various known and unknown risks and uncertainties, many of which are beyond the ability of the Company to control or predict, that may cause the Company’s actual results, performance or achievements to be materially different from those expressed or implied thereby, and are developed based on assumptions about such risks, uncertainties and other factors set out here in, including but not limited to: the financial condition, the successful integration of technology, the inherent risks involved in the general securities markets; uncertainties relating to the availability and costs of financing needed in the future; the inherent uncertainty of cost estimates and the potential for unexpected costs and expenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and other related risks and uncertainties disclosed under the heading "Risk Factors" in the Company’s most recent filings filed with securities regulators in Canada on the SEDAR website at The Company undertakes no obligation to update forward-looking information except as required by applicable law.
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