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Draganfly reports 45% revenue increase in Q1 2024 By Investing.com

Draganfly Inc (NASDAQ:). (DFLY), a leader in the commercial drone industry, reported a significant increase in its first-quarter revenue for 2024, marking a 45% rise from the previous quarter. The company’s CEO, Cameron Chell, announced Q1 revenues of $1.3 million and a gross profit of $280,000, resulting in a 21% margin. The cash balance stood at $4 million at the end of Q1, with an additional $3.5 million added subsequently. Chell highlighted the company’s strategic partnerships, military contract pursuits, and industry recognitions, emphasizing Draganfly’s position as one of the few drone manufacturers with the capacity to meet growing industry demand.

Key Takeaways

  • Q1 revenue reached $1.3 million, a 45% increase from the previous quarter.
  • Gross profit was $280,000 with a 21% margin.
  • Cash balance at the end of Q1 stood at $4 million, with an additional $3.5 million added after the…

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