Draganfly Reports its 2023 Results

(1) Gross Profit (as a % of revenues) would have been 36.5% (2022 – 36.4%; 2021 – 37.5%) not including a non-cash write down of inventory for $331,671 (2022 - $1,976,514; 2021 - $nil)).

As at      December 31,  2023 December 31, 2022
Total assets     $ 8,330,292 $ 14,638,533
Working capital      (717,017 )  10,168,800
Total non-current liabilities      523,584   249,740
Shareholders’ equity     $ 407,716 $ 11,040,881
         
Number of shares outstanding  49,229,563  34,270,579


Shareholders’ equity and working capital as at December 31, 2023, includes a fair value of derivative liability of $4,196,125 ($57,314 – 2022) and would otherwise be $4,603,841 ($11,098,195 – 2022) and $3,479,108 ($10,226,114 - 2022) respectively.

   2023 Q4 2023 Q3 2022 Q4
Revenue $ 916,299 $2,138,018 $1,314,162 
Cost of goods sold(2)(4) $ (657,420 ) $ (1,243,334 ) $ (2,980,133 )
Gross profit (3)(5) $ 258,879   $ 894,683   $ (1,665,971 )
Gross margin – percentage   28.3 %   41.8 %   -126.8 %
Operating expenses $ (3,482,141 ) $ (6,356,138 ) $ (7,342,669 )
Operating income (loss) $ (3,223,262 ) $ (5,461,456 ) $ (9,008,640 )
Operating loss per share - basic $ (0.08 ) $ (0.13 ) $ (0.26 )
Operating loss per share - diluted $ (0.08 ) $ (0.13 ) $ (0.26 )
Other income (expense)^ $ (965,072 ) $ 14,569   $ (7,575,889 )
Change in fair value of derivative liability (1) $ 153,798   $ -   $ 334,016  
Other comprehensive income (loss) $ (3,461 ) $ (83,363 ) $ (76,073 )
Comprehensive income (loss) $ (4,191,796 ) $ (5,530,248 ) $ (16,660,602 )
Comprehensive income (loss) per share - basic $ (0.10 ) $ (0.13 ) $ (0.49 )
Comprehensive income (loss) per share - diluted $ (0.10 ) $ (0.13 ) $ (0.49 )



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