Draganfly (NASDAQ:DPRO) announced second-quarter 2026 revenue of CAD 2.7 million, marking a 26% increase from the CAD 2.1 million reported in the same period last year, fueled primarily by robust product sales. Product revenue accounted for CAD 2.6 million of the total, while drone services contributed approximately CAD 100,000.
Financial Performance and Margin Analysis
Gross profit reached CAD 533,100, up from CAD 504,000 in Q2 2025. According to Chief Financial Officer Paul Sun, the quarter included a CAD 43,700 non-cash inventory write-down. Excluding this charge, the adjusted gross profit would have been CAD 576,800. The adjusted gross margin stood at 21.7%, a decrease from the 24.3% reported in the prior-year period, a shift Sun attributed to changes in the mix of products and services provided.
Total comprehensive loss for the company widened to CAD 11.8 million, compared to CAD 4.7 million in the previous year. Sun noted that this increase was driven by higher administrative and office expenses, increased R&D investment, share-based compensation, and professional fees. The results also reflect an CAD 8,900 fair-value loss linked to a derivative liability from a February 2024 financing agreement.
Sequential Growth and Liquidity
Revenue saw a sequential increase of 15.2% from the CAD 2.3 million recorded in the first quarter of 2026. Gross margin performance also showed improvement, rising to 20% compared to 15% in Q1. On an adjusted basis, the gross margin reached 21.7% in the second quarter, up from 19.6% in the first quarter.
Draganfly maintains a strong balance sheet, closing June with CAD 131.9 million in cash, up from CAD 90.2 million at the end of 2025. Total assets rose to CAD 154 million, and the company maintains a working capital surplus of CAD 144 million. CFO Paul Sun confirmed that the firm continues to carry minimal debt.
Strategic Expansion: Campuses and Public Safety
CEO and President Cameron Chell highlighted a new exclusive agreement with the International Association of Campus Law Enforcement Administrators (IACLEA). This partnership aims to provide drone and counter-UAS training and products to the association’s network of approximately 3,000 campuses. Initial interest has been high, with over 50 campuses expressing interest; the company plans a measured rollout starting with three campuses next quarter.
Furthermore, Draganfly has signed the Small and Rural Association. The company’s public-safety strategy prioritizes rural agencies and campuses—which represent roughly 80% of U.S. police forces—over direct competition in saturated large urban markets.
Acquisitions and Defense Innovation
The acquisition of Skip Dynamix was finalized during the quarter, bringing essential engineering expertise and technology for thermoplastic fixed-wing aircraft to Draganfly. This technology is designed to support modular payloads and lower-cost production, enhancing the company’s Orca and Dolphin product lines for intelligence, surveillance, and reconnaissance missions.
In the defense sector, Draganfly secured a DEVCOM contract to develop an ultra-light, mobile counter-drone system. This system is intended for personnel protection and forward operating bases, utilizing a mix of tracking software, kinetic or radio-frequency effectors, and tethered drones. Additionally, a new camera line was introduced through a partnership with Blitz to provide durable, dual-use capabilities for military and commercial applications.
Looking ahead, Chell indicated that the company is expanding its U.S. facilities and personnel to meet anticipated demand. While acknowledging that revenue growth may be more gradual compared to some competitors, Chell emphasized that Draganfly is prioritizing the development of a comprehensive, integrated product portfolio tailored for industrial, public-safety, and military clients.
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