DPRO

MKT CAP:$138M

Draganfly Inc.

Market Cap

$138M

Industrials·Aerospace & Defense·🇨🇦 Canada·NASDAQ

Industrials·Aerospace·🇨🇦·NASDAQ

Stock Price

$6.16-$1.19 (-16.19%)

Apr 23, 2026

Company Details

Draganfly Inc. manufactures and sells commercial unmanned aerial vehicles worldwide. Its products include quadcopters, fixed wing aircrafts, ground based robots, and handheld controllers, as well as software used for tracking, live streamin...

CEO

Cameron Chell

IPO Date

Jan 8, 2021

Website

www.draganfly.com

Key Metrics TTM

Revenue

$6M

+17.8% YoY

Net Income

-$17M

EPS (Diluted)

-$2.32

Free Cash Flow

-$18M

Revenue / Share

$0.19

Gross Margin

15.7%

Operating Margin

-272.4%

Net Margin

-297.2%

FCF Margin

-320.7%

P/S

24.4x

P/E

—

Earnings Reports

Q1 2026

May 14, 2026

PENDING

FY 2025

Mar 24, 2026

$6M+17.7%EPS -$1.06

Q4 2025

Mar 24, 2026

$1M+18.4%EPS -$0.24

Q3 2025

Nov 12, 2025

$2M+14.4%EPS -$0.18

Q2 2025

Aug 11, 2025

$2M+22.1%EPS -$1.10

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q3 21	$1M	$564.9K	-$5M
Q4 21	$1M	$457.8K	$9M
Q1 22	$1M	$596.4K	-$3M
Q2 22	$2M	$740.7K	-$9M
Q3 22	$1M	$458.1K	-$5M
Q2 23	$1M	$341.4K	-$5M
Q3 23	$2M	$653.8K	-$4M
Q4 23	$669.6K	$74.1K	-$2M
Q1 24	$971.6K	$98.0K	-$2M
Q2 24	$1M	$337.4K	-$3M
Q3 24	$1M	$322.1K	-$2M
Q4 24	$1M	$157.7K	-$3M
Q1 25	$1M	$226.6K	-$3M
Q2 25	$2M	$368.7K	-$3M
Q3 25	$2M	$307.6K	-$4M
Q4 25	$1M	-$14.3K	-$6M

Valuation

Quarter	P/S	P/E
Q3 21	25.8x	—
Q4 21	11.8x	—
Q1 22	13.9x	—
Q2 22	5.4x	1.4x
Q3 22	4.1x	18.2x
Q2 23	8.5x	—
Q3 23	5.7x	—
Q4 23	4.7x	—
Q1 24	3.7x	—
Q2 24	4.2x	—
Q3 24	2.0x	—
Q4 24	3.0x	—
Q1 25	1.7x	—
Q2 25	4.8x	—
Q3 25	26.3x	—
Q4 25	25.6x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q3 21	-$7M	-$8M
Q4 21	-$4M	-$4M
Q1 22	-$3M	-$3M
Q2 22	-$3M	-$3M
Q3 22	-$4M	-$4M
Q2 23	-$4M	-$4M
Q3 23	-$3M	-$3M
Q4 23	$250.3K	$191.8K
Q1 24	-$2M	-$2M
Q2 24	-$3M	-$3M
Q3 24	-$2M	-$2M
Q4 24	-$2M	-$2M
Q1 25	-$3M	-$3M
Q2 25	-$4M	-$4M
Q3 25	-$3M	-$4M
Q4 25	-$7M	-$7M

Capital Expenditures

Quarter	CapEx
Q3 21	$180.4K
Q4 21	$4.3K
Q1 22	$17.0K
Q2 22	$7.5K
Q3 22	$13.0K
Q2 23	$44.0K
Q3 23	$201.5K
Q4 23	$58.5K
Q1 24	$3.0K
Q2 24	$32.0K
Q3 24	$18.4K
Q4 24	$68.9K
Q1 25	$23.7K
Q2 25	$15.3K
Q3 25	$272.9K
Q4 25	$362.4K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q3 21	+104.7%	+216.7%
Q4 21	+12.5%	-384.6%
Q1 22	+37.6%	+35.0%
Q2 22	+53.9%	+159.7%
Q3 22	-1.1%	+2.0%
Q2 23	+16.1%	+175.2%
Q3 23	+4.6%	+31.3%
Q4 23	-61.3%	-72.7%
Q1 24	-29.1%	-50.9%
Q2 24	-8.7%	-36.5%
Q3 24	-11.8%	-30.7%
Q4 24	+76.1%	+32.6%
Q1 25	+16.4%	+12.6%
Q2 25	+22.1%	+22.2%
Q3 25	+14.4%	+34.9%
Q4 25	+18.4%	+81.9%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q3 21	$920.8K	66.4%
Q4 21	$592.5K	49.6%
Q1 22	$470.1K	31.5%
Q2 22	$168.2K	9.7%
Q3 22	$1M	84.1%
Q2 23	$350.0K	25.2%
Q3 23	$576.5K	36.9%
Q4 23	$155.9K	23.3%
Q1 24	$145.4K	15.0%
Q2 24	$223.0K	17.6%
Q3 24	$292.7K	21.2%
Q4 24	$203.1K	17.2%
Q1 25	$211.1K	18.7%
Q2 25	$274.4K	17.7%
Q3 25	$346.9K	22.0%
Q4 25	$0	0.0%

OpEx Breakdown

Quarter	R&D	G&A	S&M
Q3 21	$26.8K	$6M	—
Q4 21	$283.2K	$4M	—
Q1 22	$229.8K	$3M	$847.5K
Q2 22	$149.1K	$4M	$718.2K
Q3 22	$60.8K	$4M	$638.0K
Q2 23	$405.9K	$4M	$695.5K
Q3 23	$43.7K	$3M	$469.2K
Q4 23	$106.9K	$2M	$239.9K
Q1 24	$88.7K	$2M	$80.4K
Q2 24	$139.6K	$3M	$170.0K
Q3 24	$253.9K	$2M	$149.8K
Q4 24	$195.5K	$2M	$119.2K
Q1 25	$118.3K	$2M	$163.7K
Q2 25	$91.9K	$3M	$339.1K
Q3 25	$234.8K	$3M	$402.1K
Q4 25	$264.2K	$3M	$1M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$14M	$0	$14M
Q2 22	$12M	$0	$12M
Q3 22	$9M	$0	$9M
Q4 22	$6M	$0	$6M
Q1 23	$10M	$0	$10M
Q2 23	$5M	$0	$5M
Q3 23	$2M	$0	$2M
Q4 23	$2M	$0	$2M
Q1 24	$3M	$0	$3M
Q2 24	$4M	$0	$4M
Q3 24	$3M	$0	$3M
Q4 24	$5M	$0	$5M
Q1 25	$2M	$0	$2M
Q2 25	$16M	$0	$16M
Q3 25	$51M	$0	$51M
Q4 25	$66M	$0	$66M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q3 21	1M	+49.0%	+105.1%
Q4 21	2M	+25.2%	+156.9%
Q1 22	1M	-15.2%	+48.7%
Q2 22	1M	+0.1%	+58.3%
Q3 22	1M	+0.4%	+6.6%
Q2 23	2M	+29.6%	+10.3%
Q3 23	2M	+0.6%	+31.0%
Q4 23	2M	+8.9%	+42.5%
Q1 24	2M	+16.1%	+64.8%
Q2 24	3M	+28.6%	+63.6%
Q3 24	3M	+18.6%	+92.8%
Q4 24	3M	-2.9%	+71.9%
Q1 25	3M	-3.0%	+43.7%
Q2 25	8M	+149.0%	+178.2%
Q3 25	21M	+161.5%	+513.3%
Q4 25	29M	+41.9%	+796.2%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q3 21	—	—
Q4 21	$29.1K	41
Q1 22	$36.4K	41
Q2 22	$42.2K	41
Q3 22	$33.4K	41
Q2 23	$33.8K	41
Q3 23	$38.1K	41
Q4 23	$12.4K	54
Q1 24	$18.0K	54
Q2 24	$23.5K	54
Q3 24	$25.5K	54
Q4 24	$21.8K	54
Q1 25	$20.9K	54
Q2 25	$28.6K	54
Q3 25	$29.2K	54
Q4 25	$25.9K	54

Revenue / Employee