$DPRO

Draganfly Inc.

CIK:0001786286|SEC Filings

Consolidated Statements of Comprehensive Loss - CAD ($)	12 Months Ended
Consolidated Statements of Comprehensive Loss - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
REVENUE
Sales of goods	$ 6,869,815	$ 5,368,476
Provision of services	861,348	1,192,579
TOTAL REVENUE	7,731,163	6,561,055
COST OF SALES	(6,409,827)	(5,162,851)
GROSS PROFIT	1,321,336	1,398,204
OPERATING EXPENSES
Amortization	9,028	11,285
Depreciation	337,491	565,806
Director fees	519,950	504,620
Insurance	654,477	1,111,052
Office and miscellaneous	5,883,533	2,287,884
Professional fees	1,333,564	1,435,412
Research and development	970,859	927,412
Share-based payments	1,388,956	1,182,618
Travel	1,107,610	231,431
Employee and management expenses	9,906,834	7,880,180
Total operating expenses	(22,112,302)	(16,137,700)
OTHER INCOME (EXPENSE)
Change in fair value of derivative liability	(2,648,288)	1,842,618
Finance and other costs	1,088,965	107,225
Foreign exchange gain	(425,089)	268,537
Gain (loss) on disposal of assets	20,758	11,432
Gain (loss) on write-off of notes receivable	69,646	40,020
Other income (expense)	(296,105)	(1,407,809)
NET LOSS FOR THE YEAR	(22,981,079)	(13,877,473)
Items that may be reclassified to profit or loss
Foreign exchange translation	(62,977)	(9,944)
Items that will not be reclassified to profit or loss
Change in fair value of equity investments at FVTOCI	64,286	(175,117)
COMPREHENSIVE LOSS FOR THE YEAR	$ (22,979,770)	$ (14,062,534)
Net Loss per share - Basic	$ (1.46)	$ (4.40)
Net Loss per share - Diluted	$ (1.46)	$ (4.40)
Weighted average number of common shares outstanding - Basic	15,715,424	3,156,891
Weighted average number of common shares outstanding - Diluted	15,715,424	3,156,891

Statement of Cash Flows - CAD ($)	12 Months Ended
Statement of Cash Flows - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
OPERATING ACTIVITIES
Net loss for the year	$ (22,981,079)	$ (13,877,473)
Adjustments for:
Amortization	9,028	11,285
Depreciation	337,491	565,806
Bad debt	90,252	186,627
Change in fair value of derivative liability	2,648,288	(1,842,618)
Write down of inventory	259,091	627,106
(Recovery) impairment of notes receivable	(69,646)	(40,020)
Finance and other costs	(869)	1,443,740
(Gain) loss on sale of assets	16,564	11,432
Share-based payments	1,388,956	1,182,618
Adjustments for profit loss	(18,301,924)	(11,731,497)
Net changes in non-cash working capital items:
Receivables	(402,244)	(266,418)
Inventory	(2,580,789)	(562,833)
Prepaids	(4,032,587)	617,702
Trade payables and accrued liabilities	1,367,411	(231,812)
Customer deposits	(48,654)	361,580
Deferred income	123,068	(20,993)
Cash used in operating activities	(23,875,719)	(11,834,271)
INVESTING ACTIVITIES
Purchase of equipment	(923,037)	(167,257)
Disposal of equipment		103,923
Repayment (Issuance) of notes receivable	69,646	40,020
Cash used in investing activities	(853,391)	(23,314)
FINANCING ACTIVITIES
Proceeds from issuance of common shares for financing	58,305,570	17,751,927
Share issue costs	(5,131,132)	(2,656,180)
Proceeds from issuance of common shares for warrants exercised	56,038,319	373,415
Repayment of loans		(85,058)
Repayment of lease liabilities	(154,146)	(357,778)
Cash provided by financing activities	109,058,611	15,026,326
Effects of exchange rate changes on cash	(425,089)	(9,944)
Change in cash	84,329,501	3,168,741
Cash and cash equivalents, beginning of year	6,252,409	3,093,612
Cash and cash equivalents, end of year	90,156,821	6,252,409
Interest paid in cash	37,480	67,856
Interest received	1,126,375	175,080
Share issue costs in accounts payable		$ 25,695

Consolidated Statements of Financial Position - CAD ($)	Dec. 31, 2025	Dec. 31, 2024
Current Assets
Cash and cash equivalents	$ 90,156,821	$ 6,252,409
Receivables	1,041,582	573,390
Inventory	3,903,139	1,532,263
Prepaids and deposits	4,757,100	724,513
Total current assets	99,858,642	9,082,575
Non-current Assets
Equipment	1,192,074	529,542
Intangible assets	36,112	45,141
Investments	71,429	14,286
Receivable		156,200
Right of use assets	229,616	372,344
TOTAL ASSETS	101,387,873	10,200,088
Current Liabilities
Trade payables and accrued liabilities	3,397,343	2,399,187
Customer deposits	417,641	466,295
Deferred revenue	165,237	18,542
Derivative liability	492,470	2,198,121
Lease liabilities	143,624	154,147
Total current liabilities	4,616,315	5,236,292
Non-current Liabilities
Deferred revenue	44,512	68,139
Lease liabilities	130,251	273,874
TOTAL LIABILITIES	4,791,078	5,578,305
SHAREHOLDERS’ EQUITY
Share capital	229,698,507	110,742,984
Reserves – share-based payments	7,347,457	7,698,304
Reserves - Warrants	126,534	3,776,428
Accumulated deficit	(140,446,908)	(117,465,829)
Accumulated other comprehensive income (loss)	(128,795)	(130,104)
TOTAL SHAREHOLDERS’ EQUITY	96,596,795	4,621,783
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	$ 101,387,873	$ 10,200,088