Draganfly Inc. (NASDAQ:DPRO) Q3 2024 Earnings Conference Call November 14, 2024 5:30 PM ET

Company Participants

Rolly Bustos – Investor Relations
Cameron Chell – President and Chief Executive Officer
Paul Sun – Chief Financial Officer
Scott Larson – Chairman

Conference Call Participants

Rolly Bustos

Hello and welcome to the Q3 2024 Draganfly Call. We just opened up the call and the attendees are just filing in. So we'll just give it a minute but then we'll get started. Okay. To be respectful of everybody's time, I think we will get started today. So as always, greetings and welcome to all the shareholders and stakeholders on today's Draganfly 2024 Q3 Earnings Call. My name is Rolly Bustos and I’m the internal Investor Relations representative here at Draganfly. We appreciate you all joining us.

As usual, we'll start with our CEO and President, Cameron Chell, recapping the third quarter earnings headlines, we'll move right into a more detailed financial review with CFO, Paul Sun. And then as always, we'll conclude with our Chairman, Scott Larson facilitating the pre-submitted questions that we have received.

You are always welcome to reach out to me at investor.relations@draganfly.com if we did not get to your question today. I remind everyone that this presentation may include forward-looking information and statements. These statements are not guarantees of future performance or financial results and undue reliance should not be placed on them. Any future events or financial results may differ from what might be discussed here. The full forward-looking disclaimer can be found on Page 2 of this presentation.

So Cam, I think we're ready. Please go ahead.

Cameron Chell

Great. Thanks very much, Rolly. And thanks everybody for joining us today. It's a great pleasure to be here. So the market continues to be relatively robust with an incredible amount of business development that's unfolding, in particular around – well, all of our products, but in particular, around the APEX Drone which we launched last quarter.

So the financial highlights for the quarter is that we had revenue of $1.885 million, which is seasonally our best Q3 ever. We had product sales of $1.3 million and services of $0.5 million. So we had gross profit of $440,000 with a margin of 23%. And Paul will explain a number of things as he goes through his presentation, talking through actually how that margin calculates out to be a bit larger than that.