Draganfly (DPRO) 10 Aug 222022 Q2 Earnings call transcript

Thanks, Rolly, and thanks, everyone, for joining us today. Thanks in particular to the incredible team that we have at Draganfly and for the work that you have done in this last quarter, especially thank you to our shareholders, stakeholders who have had trust with us, believe in us and are on this journey to create the number one or the number two drone solutions company in North America. Not to take away the good news from Paul Sun as he reveals the and runs through the financials. But we're very happy as a team to report that we have had another record quarter.

I think this is probably about #5 in a row. see see the growth. to really that continue to like we growth manner in we And

solutions QX. our XX.X%, So complete most customers $X.XX in I'll and we're are design the importantly, we're growing let Paul represents our we sustainability -- organic believe that that That's reporting that base. million long-term we we and the coming are run that is designing what the through really of core are growth. year-over-year. solutions XX% that scaling will and and for out business. for the are the and wanting create that customers at in increase services of is almost we pull presentation, XXX% that of and here. that did in products a sent This look And And we Draganfly that the strategy to details ahead core answering the of them. that. the going also up IP questions just to a are that after to That's is forward you've revenue And we share time. I'm the

So we've Rolly the us course, forward-looking And got disclaimer. of notice customary statements. of potential all gave the

the that than and somewhat clear, there, they're that So is just out in as other strategically our we we're routes put in which really to be conducting some strategy, different context the is way pursuing. it's conducting drone and strategy are the our important industry financials our believe we where maybe competitors why we

primarily the around it's of listen, companies never grow X% of And and or reason a industry understand were of is now projections a commercial. our military, regulations And today these and were believed whatever what fight having industry. it's the the deployment, probably the primarily, X% this sale, ticket, $XX seeing I've really every up. it's I've the we've We about to we now billion give we commercial have guidance is weren't is consumer -- to for So working about fighting military, sales. started years want managing first to is XX% space is that have, believed are in now seen is only a not every growth these And kind industry single going as open particular in that that where for to we X% of growth. projection the those issue before say, since really does, other of this, every industry them. important - and -- to that right it particular, single the and grow they how and to seen we seen but billion all, -- FAA industry we because has around hey, we single the I've is couple of took never like for X% and one service loss, $XX well And type

future. is chain, up of it's demand. projections to the not see, which and first by demand, is to exciting. billion supply constraining the So sales strategic is item you, time, around a industry now, that to -- create to providing up proprietary The these cannot in having that important services going take is be really services go there potential building the really because when proprietary But the constraining we XXXX. do item the for keep capacity, billion The things $XX believe or regulation, just ability differentiators to there $XX to infrastructure you to and solutions but that products the that the make you'll to end right, right, are you longer-term your moat so are that that you you note and view, and designing the

fragmented. very it are on. Things opportunities. ever. large the units. $XX,XXX be opportunities. So an segments are have today more not commercial coming or big, in particular, now delivery, And of the important majority is matter that a autonomy and is is into the And point, inflection than like going like market, like where types AI, sensors multimillion, at to services highly majority of are we of the $XXX,XXX that this is multiyear are happening. now The of or big the the still $XXX,XXX working like contracts those where needle-moving we drone They're selling They're industry the growth things

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also development we full products. sales a and have and lineup product of pipeline So

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really our doing, over a strategy disciplined proprietary component our going we're you have approach. Lead it's your it when important very, to to turn about growth solutions. Larson what to Scott? So a just own and becomes because Scott what start is this endless Director, it's I'm slide of to talk very

Cam. Thanks, One X our be strategy, it organic. up at look categories. we When different of break Yes. kind we would into

revenue, and Paul, a get mentioned Cam into so few just to And our minutes. as is in earlier, CFO, here going

We XX%, grow year-over-year. continue to XX%, XX% at

that been mentioned, it's it's than few where growth had right In way. a of more type fact, as Cam quarters

it work, of tech each new just out development, growth other with organic then new we're comes the engineering in one that and is that ventures participants coming some into verticals. with through verticals new So joint those product designing of entering

would we'll that is be a further other needle larger couple to partnerships, broadly, that or number in of the about are of look that, business as getting levels, secondly, faster, things on software the core and The looking growing in Maybe to of that. bit and effort minutes, of last items second sectors, Ukraine if really into you going talked strategy a through the take lot countries solutions leaders. And type that the verticals. longer-term just the will, of X for the long for that then foundation late of is move lead take -- entities a Draganfly XX%, keep back been the kind engineering different work technical bit 'XXs. doubles, since But talk work things that more designed doing of a to the Cam growth larger ability bit keep and the that joint come These here a way have looking to and essentially keep different to XX% little at at months. our last different through And the different and is move sales those kind we've through at the then Draganfly of X a working on the -- pipe. singles to the larger the little little different company like at ventures, layer new top and well. that And initiatives started that into of to we industry with in about some there products bringing and think in are looking we're growing

different so strategy of the kind those And that things the are that high-level and make on. we're path X up together the

Yes. And done job that of around growth we're think this to seems And as opportunity of I Scott certainly through be partnerships. I there, out great M&A has really there think characterizing selective plenty a that. but

they where to very, where potentially we're to in could being they not we be will rely be, believe growth. industry organic the in fortunate position valuations the With be on a or very

-- do much been, up put building continuously that's we you doubles demonstrate singles that to want on hitting we've because Scott as of and growth been that to. the and has been and that hitting it, our focus that and capacity. have we And So to likes

number real a path are what opportunities there the needle-moving we're Now we of call that of. down well

feet ground customer But us. conversations world we Q-over-Q. about really really we we said, of on, is quarter. we've that important that M&A for opportunities moves And making the interesting as as some platform. just to we both The those good right large we'll quarters got to necessarily some -- good highlights demonstrate to good are M&A those That's of where that and some from I going the in Integrations on all important that's be isn't something believe going That look that product there parts tricky some credible And it's represent sustainability. able we of doing last know. And customers very we've but the great. growth, work forward a of silos feel more is some those build -- we of so development, hit operational is sustainable talk to unfold. the different the think been

think see -- last us the we this we last really of of quarters, despite our some number last quarter quarter, this to could this and started terms quarter of I really it last of of the product. revenue for focused record were results in in

everything So out that customers, we've for demanded we working with isn't testing anything we by right, haven't that directly and that the are from don't knowing sales we AV been go doing build got being to products out. building that customers

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orders that We made weeks. whether that's going we highlight response We doing units into Ukraine. had so delivering and We've search other started from in it's into and We've our more X in or announced The military an our our doing the got experience delivery them. the awareness shipment QX, incredible with now every gone also We've rescue gaining, sort Ukraine, we're kind Soldiers every announced not drones operational in but on the going just learning these it's humanitarian that are there. in drones maybe got for of situational working market as optics well. has units Revived medical and almost software just and drones with us there. drones, work are organization going it. some of market amazing We're much what over or upgrade, in --

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So you I stuff. you important to get all, wanted the know I all most and

So Paul turn to at this point, it I'm going Sun. to Paul? over

our Yes. and thanks Cam, to again Thanks for listen day very followers shareholders in. all time and out to much, of taking the

you tables. is a of X what snapshot you QX. give So here I'll see quick

income on looking at left the here. statement the So

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comprehensive fair from of in the loss of to million $X.X QX value million or $X.X derivative million. the liability from comparing would have been that it So exing noncash of liability $X.X out -- change XXXX,

costs, increase expenses. an year-over-year office and in was insurance mainly increase and the to the So attributed loss expenses miscellaneous in professional

share approximately the per per be versus or the $X.XX share reported the versus $X.XX the loss $X.XX. reported would $X.XX that, Following

from surplus see table the cash $XX.X we $XXX,XXX. equity XX, $XX.X liability of the June be million out $XX.X million surplus here to at year-end, shareholders' the fair on balance $XX.X been middle derivative of total the sheet, if of $XX.X you reduction a due prepaids. have million of The million million value of is as to would of XXXX, the would and to capital shown versus Going that noncash ex deployment working million assets and decreased from $XX.X largely the which

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with pass we back And So that, in of I'll exing million, so comprehensive loss that have we QX it what compared of $X.XX million to quite quarter-over-quarter. saw out, Cam. a $X.XX to comparative

amount this successful just our he's that role -- to time. -- -- the governance John -- are things tremendous General but of really in former other John you a bio of to as now so Mitnick -- A Counsel role, the Paul. really last really, and and had Board terms to has military upcoming moved unit, is XXXX were report we -- and contractor Officer. industry board has Chief Not experience, just of we bring also attorneys been Counsel Board. think Paul My us, reach thrilled Security in VI. mature Paul, Chief always. an a significant a of not the couple Raytheon, as is for Chairman all is And a us is, This but incredible amount excellent our chairmanship our has members is have. first with before Thanks, as the but General Intelligence happy a He tremendous business that since really that last to relinquished John governance, now the thanks announce Operating continues be member he's X proud some on the quarter, to him time there. legal and Operating at The I see of of on excited our and X,XXX our very that had to position taking continue including to we're get been for by us. a is -- which provides the exposure, well, along contacts Officer, Mullen, this all very over Q&A and last our John thankful brings space. know, and resume we've the VP evolve. can has is of and amount able experience. we're John and we just things X Board Vital at to multibillion-dollar as Mr. his of about well, Homeland actually of And got or happily who John really, left we to that our products, I've Mitnick. -- Chairman joined other now insight which

really has and operations. bringing not but really of and online been recruiting is to X and as right products guess else business product a maturity successfully I also now last level just our and focus, big streamlining A as that So very the everything our capacity.

really So meet doing. part next our growth accelerate out us and growth continue through of building the demand we key and year capacity we're a what that have our is in to that

our me. also incredible for and as hire thanks, come to has Deborah onboard is Thrilled that. Greenberg announce such Paul, So for Chief an Legal exciting Officer. was Deborah

a She's the totally right She and able negotiator, background. much For fact was jumped Deborah really we an incredible that is adds a incredibly lawyer, customer to that a has than and the IT strong to going value add in an perspective has just of perspective It vendor in level-headed. she marketing a perspective, more very number and simple background. doing. negotiations from from on everything from a contract have that we're

Legal as our of growth them, lot while that strengthen development So sales of closing to order improving represents a really somebody our cycle type we well. may a that -- in viewed onboard other helps the the have governance, be have as that but business Chief our which Officer to that's and

bio We're Everybody welcome we're again, get so Deborah, so to just her but here. lucky not it. to see going onboard we why being and Deborah with much to can for going not question thanks just So were sure, with to roll there, we're by that us.

focused team that And So thanks, is section -- there. traction and its and focus that's about before things really X technology, Q&A middle thinking about its to we Deborah. highlighted on for that organization in Draganfly, is In we there's get customers. thinking really solutions on

making continue sure to overpromising. the we've in through our us. product all admin, way discipline while still to of it XX% we numbers it infrastructure consistent about we're we're kind this growth doing introduce the our pipeline, organic can to in rest pay we've it's managing for We've Just our ERPs talk going it's making to quarter, and hit just so in coming massive organization, handle we see that we're and doing our think stuck It we're what be tempting new seeing hitting is sure done. lines really of that -- place, would the a capacity not and what and that dividends the and we're we're numbers, it every our -- of but

to a So that new us, organization. to are focus in to traction type do -- the also, like and of build technology-focused a the traction we like of it tech, We we customer.

patent of our we are and do that that got start strong lot We've a of -- of continue we've of going make and us really alternatives. think position customers of sticky, got pieces to trade the Draganfly you we So -- portfolio. a or a things with in that to for put working secrets, it a lot once hundreds

gate great and get I'm just to QX have it economics our we're have a politics and It of in worry we Rolly? and executive then let over to us -- ... going beginning like see right It's out Q&A. Q&A -- not look front, dying technology. feeling my we bit. that right depth team, that look -- incredible the our to rather some Q I it's at here. our there. where very really in at gives already. So against board. and visibility just board, it the to got some ever If we're we've that the a the world not faced experience, just numbers ones Rolly here already industry if than about jump drone reach, team, you now. terms the our a And than best it to out compared legal seasoned going that incredible to going -- space with of gelling engineering really and really hit Scott, such QX, and more is On Scott take in for of kind there's to to team to great both this It's executive but the industry, how confident space, where the that's not -- lot Scott, any the there, turn but also ... am we're I'm industry, entrepreneurial in, little I of and there's the I'll in team to going got answer, but it's the a of a really, do the a from but I'm

a questions have number online. the we for We've is say that and just Cam, bit doing been for those. is topic like and through of in our in role the delivery many to get thanks in you way to prior of was term? a work in come our through as to already, We're the also of to our ones in questions I have going and the of a Draganfly's Yes, entered in way we'll going about that online. hot work what to a little deliveries then can near talked asked do this and was that but call, the there's There number both drone some these think drones. came look as -- best

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