Draganfly Inc.
DPRO Nasdaq Aircraft Financials FY2019โFY2025
Revenue
Total sales reported in the income statement.
$5.5M
15.4%
vs prior year
Operating margin
Operating income as a share of revenue.
โ
Net income
Profit after all expenses, interest and tax.
โ$16.4M
Free cash flow
Cash from operations minus capital spending.
โ$17.7M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
โ
Market cap
Last close times the latest diluted share count, so it is approximate.
โ
P/E
Last close divided by diluted earnings per share over the last four quarters.
โ
On โ$1.04 EPS (TTM)
What Draganfly Inc. does
No business description yet.
- Legal name
- Draganfly Inc.
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 40-F ยท Mar 24, 2026
- Accession ยท CIK
- 0001493152-26-012377
0001786286
Revenue and margins
Draganfly Inc. had $5.5M of revenue in fiscal 2025, up 15.4% on the year before.
FY19
Revenue $1.0M
FY20
Revenue $3.3M
FY21
Revenue $5.6M
FY22
Revenue $5.8M
FY23
Revenue $4.9M
FY24
Revenue $4.8M
FY25
Revenue $5.5M
Q1 '23
Revenue $1.2M
Q2 '23
Revenue $1.4M
Q3 '23
Revenue $1.6M
Q4 '23
Revenue $0.7M
Q1 '24
Revenue $1.0M
Q2 '24
Revenue $1.3M
Q3 '24
Revenue $1.4M
Q4 '24
Revenue $1.2M
Q1 '25
Revenue $1.1M
Q2 '25
Revenue $1.5M
Q3 '25
Revenue $1.6M
Q4 '25
Revenue $1.4M
FY19
Gross 84.1%
Operating โ
Net โ803.7%
FCF โ
FY20
Gross 40.3%
Operating โ
Net โ183.7%
FCF โ
FY21
Gross 37.5%
Operating โ
Net โ229.7%
FCF โ315.0%
FY22
Gross 10.4%
Operating โ
Net โ363.6%
FCF โ216.0%
FY23
Gross 31.5%
Operating โ
Net โ360.2%
FCF โ293.9%
FY24
Gross 21.3%
Operating โ
Net โ211.5%
FCF โ182.9%
FY25
Gross 17.1%
Operating โ
Net โ297.3%
FCF โ320.8%
Gross
Operating
Net
FCF
Q1 '23
Gross 27.7%
Operating โ
Net โ441.3%
FCF โ355.8%
Q2 '23
Gross 24.6%
Operating โ
Net โ363.8%
FCF โ321.7%
Q3 '23
Gross 41.8%
Operating โ
Net โ254.8%
FCF โ186.7%
Q4 '23
Gross 28.3%
Operating โ
Net โ457.1%
FCF โ378.3%
Q1 '24
Gross 21.1%
Operating โ
Net โ140.2%
FCF โ199.3%
Q2 '24
Gross 26.6%
Operating โ
Net โ409.2%
FCF โ219.2%
Q3 '24
Gross 23.4%
Operating โ
Net โ10.6%
FCF โ171.2%
Q4 '24
Gross 13.4%
Operating โ
Net โ292.7%
FCF โ144.2%
Q1 '25
Gross 20.0%
Operating โ
Net โ221.3%
FCF โ264.8%
Q2 '25
Gross 23.9%
Operating โ
Net โ225.1%
FCF โ254.6%
Q3 '25
Gross 19.5%
Operating โ
Net โ239.8%
FCF โ235.5%
Q4 '25
Gross 4.5%
Operating โ
Net โ503.3%
FCF โ535.3%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY19
Net income โ$8.4M
FY20
Net income โ$6.0M
FY21
Net income โ$12.9M
FY22
Net income โ$21.2M
FY23
Net income โ$17.5M
FY24
Net income โ$10.1M
FY25
Net income โ$16.4M
Q1 '23
Net income โ$5.2M
Q2 '23
Net income โ$5.1M
Q3 '23
Net income โ$4.1M
Q4 '23
Net income โ$3.1M
Q1 '24
Net income โ$1.4M
Q2 '24
Net income โ$5.2M
Q3 '24
Net income โ$0.1M
Q4 '24
Net income โ$3.4M
Q1 '25
Net income โ$2.4M
Q2 '25
Net income โ$3.4M
Q3 '25
Net income โ$3.8M
Q4 '25
Net income โ$6.9M
FY19
Diluted EPS โ
FY20
Diluted EPS โ
FY21
Diluted EPS $0.47
FY22
Diluted EPS โ$15.62
FY23
Diluted EPS โ$10.80
FY24
Diluted EPS โ$3.21
FY25
Diluted EPS โ$1.04
Q1 '23
Diluted EPS โ$0.15
Q2 '23
Diluted EPS โ$0.12
Q3 '23
Diluted EPS โ$2.33
Q4 '23
Diluted EPS โ$8.14
Q1 '24
Diluted EPS โ$0.63
Q2 '24
Diluted EPS โ$1.83
Q3 '24
Diluted EPS โ$0.04
Q4 '24
Diluted EPS โ$0.70
Q1 '25
Diluted EPS โ$0.44
Q2 '25
Diluted EPS โ$0.44
Q3 '25
Diluted EPS โ$0.18
Q4 '25
Diluted EPS $0.02
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY19
Return on capital โ
Return on equity โ495.8%
Return on assets โ
FY20
Return on capital โ
Return on equity โ253.9%
Return on assets โ107.2%
FY21
Return on capital โ
Return on equity โ84.7%
Return on assets โ66.8%
FY22
Return on capital โ
Return on equity โ119.2%
Return on assets โ96.7%
FY23
Return on capital โ
Return on equity โ413.4%
Return on assets โ204.6%
FY24
Return on capital โ
Return on equity โ575.6%
Return on assets โ151.5%
FY25
Return on capital โ
Return on equity โ44.6%
Return on assets โ40.5%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was โ$17.7M in fiscal 2025, โ320.8% of revenue. Cash from operations minus capital spending.
FY19
Free cash flow โ
FY20
Free cash flow โ
FY21
Free cash flow โ$17.7M
FY22
Free cash flow โ$12.6M
FY23
Free cash flow โ$14.3M
FY24
Free cash flow โ$8.8M
FY25
Free cash flow โ$17.7M
Q1 '23
Free cash flow โ$4.2M
Q2 '23
Free cash flow โ$4.5M
Q3 '23
Free cash flow โ$3.0M
Q4 '23
Free cash flow โ$2.5M
Q1 '24
Free cash flow โ$2.0M
Q2 '24
Free cash flow โ$2.8M
Q3 '24
Free cash flow โ$2.4M
Q4 '24
Free cash flow โ$1.7M
Q1 '25
Free cash flow โ$2.9M
Q2 '25
Free cash flow โ$3.9M
Q3 '25
Free cash flow โ$3.7M
Q4 '25
Free cash flow โ$7.3M
FY19
Cash from operations โ
Capital spending $0.1M
FY20
Cash from operations โ
Capital spending $0.0M
FY21
Cash from operations โ$17.6M
Capital spending $0.2M
FY22
Cash from operations โ$12.6M
Capital spending $0.1M
FY23
Cash from operations โ$13.9M
Capital spending $0.4M
FY24
Cash from operations โ$8.6M
Capital spending $0.1M
FY25
Cash from operations โ$17.1M
Capital spending $0.7M
Cash from operations
Capital spending
Q1 '23
Cash from operations โ$4.2M
Capital spending $0.1M
Q2 '23
Cash from operations โ$4.5M
Capital spending $0.0M
Q3 '23
Cash from operations โ$2.8M
Capital spending $0.2M
Q4 '23
Cash from operations โ$2.5M
Capital spending $0.1M
Q1 '24
Cash from operations โ$2.0M
Capital spending $0.0M
Q2 '24
Cash from operations โ$2.7M
Capital spending $0.0M
Q3 '24
Cash from operations โ$2.3M
Capital spending $0.0M
Q4 '24
Cash from operations โ$1.6M
Capital spending $0.1M
Q1 '25
Cash from operations โ$2.8M
Capital spending $0.0M
Q2 '25
Cash from operations โ$3.9M
Capital spending $0.0M
Q3 '25
Cash from operations โ$3.4M
Capital spending $0.3M
Q4 '25
Cash from operations โ$7.0M
Capital spending $0.4M
Cash from operations
Capital spending
Dividends, buybacks and share count
Draganfly Inc. returned โ to shareholders in fiscal 2025. The diluted share count rose 397.8%.
FY19
Dividends โ
Buybacks โ
FY20
Dividends โ
Buybacks โ
FY21
Dividends โ
Buybacks โ
FY22
Dividends โ
Buybacks โ
FY23
Dividends โ
Buybacks โ
FY24
Dividends โ
Buybacks โ
FY25
Dividends โ
Buybacks โ
Dividends
Buybacks
FY19
Diluted shares 0.01B
FY20
Diluted shares 0.02B
FY21
Diluted shares 0.03B
FY22
Diluted shares 0.00B
FY23
Diluted shares 0.00B
FY24
Diluted shares 0.00B
FY25
Diluted shares 0.02B
Balance sheet
Cash, debt and the ratios that show how comfortably Draganfly Inc. can carry it.
FY19
Cash $1.9M
Debt โ
FY20
Cash $1.6M
Debt โ
FY21
Cash $18.2M
Debt โ
FY22
Cash $5.8M
Debt โ
FY23
Cash $2.3M
Debt โ
FY24
Cash $4.3M
Debt โ
FY25
Cash $65.8M
Debt โ
Cash
Debt
| Fiscal year end | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|
| Cash and short-term investments | $18.2M | $5.8M | $2.3M | $4.3M | $65.8M |
| Current ratio | 5.0x | 4.0x | 0.9x | 1.7x | 21.6x |
| Quick ratio | 4.5x | 3.7x | 0.7x | 1.4x | 20.8x |
| Total assets | $33.1M | $10.8M | $6.3M | $7.1M | $74.0M |
| Total liabilities | $5.7M | $2.7M | $6.0M | $3.9M | $3.5M |
| Shareholders' equity | $27.5M | $8.2M | $0.3M | $3.2M | $70.6M |
| Net debt (โ = net cash) | โ | โ | โ | โ | โ |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. โPlanโ marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
โ
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8โ9 is strong, 0โ2 weak.
| Test | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Net income is positive | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations is positive | โ | โ | โ | โ | โ | โ | โ |
| Return on assets rose | โ | โ | โ | โ | โ | โ | โ |
| Cash from operations exceeds net income | โ | โ | โ | โ | โ | โ | โ |
| Debt fell relative to assets | โ | โ | โ | โ | โ | โ | โ |
| Current ratio rose | โ | โ | โ | โ | โ | โ | โ |
| Share count didn't rise | โ | โ | โ | โ | โ | โ | โ |
| Gross margin rose | โ | โ | โ | โ | โ | โ | โ |
| Revenue rose relative to assets | โ | โ | โ | โ | โ | โ | โ |
| F-score | โ / 1 | โ / 3 | 2 / 8 | 3 / 8 | 3 / 8 | 3 / 8 | 2 / 8 |
| Accruals ratio | โ | โ | 23.9% | โ39.5% | โ41.9% | โ22.3% | 1.6% |
| Altman Z'' | โ | โ | โ | โ | โ | โ | โ |
7 years of figures
Amounts in USD. Hover a ratioโs name for its definition.
| Fiscal year | FY19 | FY20 | FY21 | FY22 | FY23 | FY24 | FY25 |
|---|---|---|---|---|---|---|---|
| Income statement | |||||||
| Revenue | $1.0M | $3.3M | $5.6M | $5.8M | $4.9M | $4.8M | $5.5M |
| Gross profit | $0.9M | $1.3M | $2.1M | $0.6M | $1.5M | $1.0M | $0.9M |
| Research and development | $0.0M | $0.4M | $0.4M | $0.5M | $1.2M | $0.7M | $0.7M |
| Net income | โ$8.4M | โ$6.0M | โ$12.9M | โ$21.2M | โ$17.5M | โ$10.1M | โ$16.4M |
| Diluted EPS | โ | โ | $0.47 | โ$15.62 | โ$10.80 | โ$3.21 | โ$1.04 |
| Diluted shares | 0.01B | 0.02B | 0.03B | 0.00B | 0.00B | 0.00B | 0.02B |
| Cash flow | |||||||
| Cash from operations | โ | โ | โ$17.6M | โ$12.6M | โ$13.9M | โ$8.6M | โ$17.1M |
| Capital expenditure | $0.1M | $0.0M | $0.2M | $0.1M | $0.4M | $0.1M | $0.7M |
| Free cash flow | โ | โ | โ$17.7M | โ$12.6M | โ$14.3M | โ$8.8M | โ$17.7M |
| Stock-based compensation | $0.6M | $2.0M | $3.2M | $2.5M | $1.5M | $0.9M | $1.0M |
| Balance sheet | |||||||
| Cash and short-term investments | $1.9M | $1.6M | $18.2M | $5.8M | $2.3M | $4.3M | $65.8M |
| Current assets | โ | $3.4M | $26.4M | $10.0M | $5.0M | $6.3M | $72.9M |
| Current liabilities | โ | $2.5M | $5.3M | $2.5M | $5.6M | $3.6M | $3.4M |
| Inventory | $0.0M | $1.0M | $2.7M | $0.8M | $1.2M | $1.1M | $2.9M |
| Property and equipment, net | โ | $0.1M | $0.2M | $0.3M | $0.5M | $0.4M | $0.9M |
| Goodwill | โ | $1.7M | $4.7M | โ | โ | โ | โ |
| Intangible assets | โ | $0.2M | $0.5M | $0.1M | $0.0M | $0.0M | $0.0M |
| Total assets | โ | $5.6M | $33.1M | $10.8M | $6.3M | $7.1M | $74.0M |
| Total liabilities | โ | $2.6M | $5.7M | $2.7M | $6.0M | $3.9M | $3.5M |
| Shareholders' equity | $1.7M | $3.0M | $27.5M | $8.2M | $0.3M | $3.2M | $70.6M |
| Margins | |||||||
| Gross margin | 84.1% | 40.3% | 37.5% | 10.4% | 31.5% | 21.3% | 17.1% |
| Net margin | โ803.7% | โ183.7% | โ229.7% | โ363.6% | โ360.2% | โ211.5% | โ297.3% |
| FCF margin | โ | โ | โ315.0% | โ216.0% | โ293.9% | โ182.9% | โ320.8% |
| Returns | |||||||
| Return on equity | โ495.8% | โ253.9% | โ84.7% | โ119.2% | โ413.4% | โ575.6% | โ44.6% |
| Return on assets | โ | โ107.2% | โ66.8% | โ96.7% | โ204.6% | โ151.5% | โ40.5% |
| Return on tangible equity | โ495.8% | โ540.8% | โ57.9% | โ264.8% | โ6,599.1% | โ318.5% | โ23.3% |
| Growth | |||||||
| Revenue growth | โ | 212.8% | 73.0% | 3.8% | โ16.9% | โ1.4% | 15.4% |
| EPS growth | โ | โ | โ | โ3,419.3% | โ | โ | โ |
| Share count change | โ | 73.8% | 67.8% | โ95.2% | 20.6% | 95.0% | 397.8% |
| Financial health | |||||||
| Current ratio | โ | 1.4x | 5.0x | 4.0x | 0.9x | 1.7x | 21.6x |
| Quick ratio | โ | 1.0x | 4.5x | 3.7x | 0.7x | 1.4x | 20.8x |
| Capital allocation | |||||||
| Capex / revenue | 6.4% | 0.5% | 3.0% | 1.0% | 7.5% | 2.5% | 11.9% |
| Stock comp / revenue | 55.2% | 61.2% | 56.0% | 43.5% | 30.8% | 18.0% | 18.0% |
| Quality scores | |||||||
| Piotroski F-score | โ | โ | 2.0 | 3.0 | 3.0 | 3.0 | 2.0 |
| Accruals ratio | โ | โ | 23.9% | โ39.5% | โ41.9% | โ22.3% | 1.6% |
Source: SEC EDGAR XBRL filings (CIK 0001786286). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. Filed in CAD under IFRS and converted to US$: income and cash-flow lines at each period's average exchange rate, balance-sheet lines at the period-end rate. For information only โ not investment advice. Check the original filings before relying on any figure.