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Income Statement (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Revenue | 1.7M | 30.3% |
| Gross Profit | 460,000 | 244.4% |
| Cost of Revenue | 1.3M | 6.3% |
| Operating expense | 5.7M | 67.8% |
| Net Income | -7.1M | 280.5% |
Balance Sheet (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Total Assets | 9.9M | 10.1% |
| Total Liabilities | 13M | 71.3% |
| Shares Outstanding | 71M | 29.9% |
Cash Flow (USD)
| Q2 '24 | QoQ | |
|---|---|---|
| Cash from operations | -3.8M | 41.9% |
| Cash from financing | 4.8M | 24.2% |
EPS
Financial Highlights for Draganfly in Q2 '24
Draganfly reported a revenue of 1.7M, which is a 30.3% change from the previous quarter. An increase in revenue typically indicates growing demand for the company's products or services. This positive change in revenue is a good sign, suggesting that the company's sales are moving in the right direction.
Gross Profit stood at 460,000, marking a 244.4% change since the last quarter. Gross profit showcases the efficiency in production and sales processes.
Cost of Revenue was 1.3M, a 6.3% difference from the previous quarter. A rising cost of revenue may suggest increased production or sales costs, which can impact margins. However, if accompanied by a proportionate rise in revenue, it could indicate scaling operations.
Operating Expenses for this period were 5.7M, showing a 67.8% change from the last quarter. Operating expenses cover the costs of running daily business operations. A significant increase might indicate inefficiencies or investments in growth, while a decrease could suggest cost-saving measures or potential underinvestment in key areas.
Net Income for the quarter was -7.1M, showing a -280.5% change from the prior quarter. Net income provides a clear picture of the company's profitability after all expenses. An increase suggests the company is becoming more profitable, while a decrease may raise concerns about the company's financial health, unless there are specific one-time costs or investments.
Draganfly faced some challenges this quarter with a decline in one or more of the key metrics: revenue, gross profit, or net income. Higher operating expenses might indicate increased investments or potential inefficiencies.
