Draganfly Announces Q3 Results and Record Nine Months Ended Sep 30/22 Revenue


As at   September 30, 2022   December 31, 2021 
Total assets   $ 29,355,617   $42,113,240 
Working capital     18,500,922    26,836,922 
Total non-current liabilities     372,666    465,214 
Shareholders’ equity   $ 26,828,165   $34,926,239 
         
Number of shares outstanding     33,801,531    33,168,946 

Notes:

(1) The net income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2022, include a non-cash gain in fair value of derivative liability of $305,094 and 5,168,672 and a recovery on impairment of notes receivable of $nil and $771,260 respectively. The net income (loss) and comprehensive income (loss) for the three and nine months ended September 30, 2022 would otherwise have been a loss of $5,645,909 for the net loss, and a loss of $5,297,627 for the comprehensive loss, and a net loss of $17,009,767 and a comprehensive loss of 16,584,635 for the nine months ended September 30, 2022.
(2) Shareholders’ equity and working capital as at September 30, 2022, include a fair value of derivative liability of $391,330 and would otherwise be $27,219,495 and $18,892,252, respectively.

    2022 Q3   2022 Q2  2021 Q3 
Revenue   $ 1,876,221   $2,370,115  $1,896,992 
Cost of goods sold   $ (1,249,313 ) $(1,356,526) $(1,123,942)
Gross profit   $ 626,908   $1,013,589  $773,050 
Gross margin – percentage     33.4 %  42.8%  40.80%
Operating expenses   $ (7,007,691 )   $ (7,176,445 )   $ (8,006,957 )
Operating income (loss)   $ (6,380,783 )   $ (6,162,856 )   $ (7,233,907 )
Operating loss per share - basic   $ (0.19 )   $ (0.19 )   $ (0.25 )
Operating loss per share - diluted   $ (0.19 )   $ (0.19 )   $ (0.23 )
Other income (expense)   $ 1,039,968     $ 6,638,171     $ 31,135,835  
Change in fair value of derivative liability *   $ 305,094     $ 6,094,438     $ 30,562,044  
Other comprehensive income (loss)   $ 348,282     $ 165,009     $ 73,472  
Comprehensive income (loss)   $ (4,992,533 )   $ 640,324     $ 23,975,400  
Comprehensive income (loss) per share - basic   $ (0.15 )   $ 0.02     $ 0.82  
Comprehensive income (loss) per share - diluted   $ (0.15 )   $ 0.02     $ 0.77  



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