{"id":874265,"date":"2025-08-11T18:04:58","date_gmt":"2025-08-11T22:04:58","guid":{"rendered":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/"},"modified":"2025-08-11T18:04:58","modified_gmt":"2025-08-11T22:04:58","slug":"draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/","title":{"rendered":"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales"},"content":{"rendered":"<div class=\"mw_release\">\n<p align=\"justify\">\n        <strong>Vancouver, BC., Aug.  11, 2025  (GLOBE NEWSWIRE) &#8212; <\/strong>Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (\u201cDraganfly\u201d or the \u201cCompany\u201d), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its second quarter financial results.<\/p>\n<p>\n        <strong>Key Financial and Operational Highlights for Q2 2025:<\/strong><br \/>\n        \n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Revenue for the second quarter of 2025 was $2,115,255 which represents a 22.1% year over year increase. Product sales of $1,901,585 were up 37.1% over the same period last year.\n<\/li>\n<li style=\"text-align:justify\">Gross profit for Q2 2025 was $504,592 up 9.3% from $461,673 for the same period last year. Gross margin percentage for Q2 2025 was 23.9% compared to 26.6% in Q2 2024. Gross profit would have been $515,013 and gross margin would have been 24.3%, not including a one-time non-cash recovery of a write down of inventory of $10,421. The decrease is due to the sales mix of the products sold.\n<\/li>\n<li style=\"text-align:justify\">The comprehensive loss for the period of $4,749,634 includes non-cash changes comprised of a negative change in fair value derivative of $180,318, a write down of inventory of $10,421, and an impairment gain on notes receivable of $8,233 and would otherwise be a comprehensive loss of $4,567,128 vs an adjusted comprehensive loss of $4,362,944 for the same period last year. Contributors to the year-over-year increase are increased office and miscellaneous, employee and management expenses, and share based payments, offset by professional fees.\n<\/li>\n<li style=\"text-align:justify\">Cash balance on June 30, 2025 of $22,571,059 compared to $6,252,409 on December 31, 2024.\n<\/li>\n<li style=\"text-align:justify\">Modular LiDAR into UAV platforms. Balko placed multiple initial orders, enhancing capabilities in precision mapping and public safety applications.<\/li>\n<\/ul>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">Draganfly was named the preferred global provider of landmine mapping drones and aerial survey services by SafeLane Global. This long-term partnership strengthens Draganfly\u2019s role in global demining and humanitarian operations.\n<\/li>\n<li style=\"text-align:justify\">To bolster public safety engagement, Draganfly established an advisory board chaired by Paul Goldenberg, a leading expert in homeland security and law enforcement strategy.\n<\/li>\n<li style=\"text-align:justify\">Draganfly and Autonome Labs announced a teaming agreement to deliver UAV-based mesh deployment systems for demining. The initiative leverages Draganfly\u2019s aerial technology to accelerate minefield remediation globally.\n<\/li>\n<li style=\"text-align:justify\">Draganfly successfully closed a US$3.6 million public offering to support operational expansion, product development, and strategic partnerships.\n<\/li>\n<li style=\"text-align:justify\">Draganfly appointed Peter Lambrinakos, O.O.M., CPP, former VIA Rail Chief of Police, to its Public Safety Advisory Board, deepening its expertise in Canadian public safety and national security.\n<\/li>\n<li style=\"text-align:justify\">Draganfly delivered Flex FPV drone systems to a major U.S. defense prime contractor, reinforcing its position as a key supplier of ISR (intelligence, surveillance, and reconnaissance) drone technologies.\n<\/li>\n<li style=\"text-align:justify\">Draganfly exclusively invited to present its tactical drone innovations at the Global Defense Summit in Latvia, spotlighting the Commander 3XL and its role in coalition-aligned defense strategies.\n<\/li>\n<li style=\"text-align:justify\">Following the U.S. Executive Order \u201cUnleashing American Drone Dominance,\u201d Draganfly was selected for a pilot program by Arizona\u2019s Cochise County Sheriff\u2019s Department, supporting border operations with U.S.-built drone platforms.\n<\/li>\n<li style=\"text-align:justify\">The Canadian government\u2019s $80 billion defense modernization package includes the integration of secure communications. Draganfly is well-positioned with its DND-specified radio capabilities to serve these upgrades.\n<\/li>\n<li style=\"text-align:justify\">Draganfly completed a US$13.75 million public offering to accelerate growth, deepen defense market penetration, and expand its R&amp;D pipeline.\n<\/li>\n<li style=\"text-align:justify\">Draganfly\u2019s Commander 3XL, integrated with TB2 Aerospace\u2019s DROPS delivery system, achieved flawless mission success during U.S. Army SMEX25 operational trials\u2014validating the system\u2019s real-time deployment performance in tactical scenarios.<\/li>\n<\/ul>\n<p align=\"justify\">\n        <strong>Subsequent Events<\/strong>\n      <\/p>\n<ul type=\"disc\">\n<li style=\"text-align:justify\">A major branch of the U.S. Department of Defense selected Draganfly\u2019s Commander 3XL UAV for advanced operational initiatives, reinforcing the system\u2019s value in evolving defense strategy and frontline adoption.\n<\/li>\n<li style=\"text-align:justify\">Draganfly completed a US$25 million registered direct offering, providing capital to scale production and meet growing demand from both defense and commercial sectors.\n<\/li>\n<li style=\"text-align:justify\">Draganfly secured a major military order for its Commander 3XL UAVs, marking a pivotal milestone in the Company\u2019s defense vertical growth and product deployment across key operational theaters.<\/li>\n<\/ul>\n<p align=\"justify\">Draganfly will hold a shareholder update, and earnings call on August 11, 2025, at 2:30 p.m. PDT \/ 5:30 p.m. EDT<\/p>\n<p align=\"justify\">Registration for the call can be done<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=nlisv3WkeKaeQe1ta3CUjF2_QapNji71Y_yShRwU2ImCkpIKRwMOi0eD-X77rXbtQwQR49VG0iTH5PRAe8PnZQrxSREK0X-I1Gv3PqItQOAdRmy3PHIjyVcz2VvI0I6QEBhm_em8kcrmaDtD-NylL2GkQ0FciNQmgtRBlklXlsc=\" rel=\"nofollow\" target=\"_blank\"> Here<\/a><\/p>\n<p align=\"justify\">Selected financial information is outlined below and should be read with Draganfly\u2019s consolidated financial statements for the quarter ended June 30, 2025, and associated management discussion and analysis, which will be available under the Company&#8217;s profile on SEDAR at\u00a0<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xFhSsWKhGIIhSOFKD0fbqwctlg0VxF-o_sfc0-kHq46FVGXVpLVkL3NHBZeTd1jAj1R0MO3KUBDL9MDWerM0aA==\" rel=\"nofollow\" target=\"_blank\"><u>www.sedar.com<\/u><\/a>\u00a0and filed on EDGAR at <a href=\"https:\/\/www.globenewswire.com\/Tracker?data=xFhSsWKhGIIhSOFKD0fbq0bOyU00Q7rLUGiCiJvJ9mcuQdSfsJwImTgn6YtuyD5zP80YlPwQtOWSjwuumIz_DA==\" rel=\"nofollow\" target=\"_blank\"><u>www.sec.gov<\/u><\/a>.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Three months ended June 30,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"6\" style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>Six months ended June 30,<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2024<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2024<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total revenues<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2,115,255<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,732,990<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>3,662,970<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,062,571<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Gross Margin (as a % of revenues) <sup>(1)<\/sup><\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>23.9<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">26.6<\/td>\n<td style=\"vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>22.2<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">24.2<\/td>\n<td style=\"vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(4,762,161<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(7,091,549<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(8,186,986<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(8,955,537<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Net income (loss) per share ($)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Basic<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.61<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.23<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3.57<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Diluted<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.61<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.23<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3.57<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Comprehensive income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(4,749,634<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(7,097,638<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(8,183,346<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(8,982,054<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Comprehensive income (loss) per share ($)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Basic<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.60<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.23<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3.58<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 30.0px;vertical-align: bottom\">&#8211;\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0\u00a0 Diluted<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.60<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1.23<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3.58<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Change in cash and cash equivalents<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>20,444,956<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">950,811<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>16,318,650<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2,196,935<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>(1)\u00a0\u00a0\u00a0Gross Profit (as a % of revenues) would have been 24.3% and 34.4% not including a non-cash write down of inventory for $10,421 and $134,410 respectively for the three-month period ending June 30, 2025, and 2024. Gross Profit (as a % of revenues) would have been 21.5% and 33.5% not including a non-cash recovery of write down of inventory for $(28,246) and non-cash write down of $283,169 respectively for the six-month period ending June 30, 2025, and 2024.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"vertical-align: bottom\">\n            <strong>As at<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>June 30, 2025<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">December 31, 2024<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total assets<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>28,452,735<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">10,200,088<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Working capital<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>22,384,429<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">3,846,283<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Total non-current liabilities<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>249,805<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">342,013<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Shareholders\u2019 equity<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>22,985,531<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">4,621,783<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: bottom\">Number of shares outstanding<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>13,967,978<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">5,427,795<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>Shareholders\u2019 equity and working capital as at June 30, 2025, includes a fair value of derivative liability of $2,220,610 (2024 &#8211; $2,198,121) and would otherwise be $25,206,141 (2024 &#8211; $6,819,904) and $24,605,039 (2024 &#8211; $6,044,404), respectively.<\/p>\n<table style=\"border-collapse: collapse;width:100%;border-collapse:collapse\">\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2025 Q2<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2025 Q1<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td colspan=\"2\" style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">2024 Q2<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Revenue<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>2,115,255<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,547,715<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">1,732,990<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Cost of sales<sup>(<\/sup><sup>2)<\/sup><\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(1,610,663<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,237,627<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(1,271,317<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Gross profit<sup>(<\/sup><sup>3)<\/sup><\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>504,592<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">310,088<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">461,673<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Gross margin \u2013 percentage<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>23.9<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>%<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">20.0<\/td>\n<td style=\"vertical-align: bottom\">%<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">26.6<\/td>\n<td style=\"vertical-align: bottom\">%<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Operating expenses<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(4,974,316<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(3,911,035<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(4,395,923<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Operating income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(4,469,724<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,600,947<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,934,250<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Operating loss per share &#8211; basic<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.57<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(0.67<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1.39<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Operating loss per share &#8211; diluted<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.57<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(0.67<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(1.39<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Other income (expense)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(292,437<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">176,122<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,157,299<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Change in fair value of derivative liability <sup>(1)<\/sup><\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(180,318<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">157,830<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2,604,394<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Other comprehensive income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>12,526<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(8,887<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(6,089<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"text-align: justify;vertical-align: middle;vertical-align: bottom\">Comprehensive income (loss)<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(4,749,634<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(3,433,712<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(7,097,638<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Comprehensive income (loss) per share &#8211; basic<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.60<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(0.64<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"vertical-align: bottom\">$<\/td>\n<td style=\"text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<tr>\n<td style=\"vertical-align: middle;text-align: left;padding-left: 20.0px;vertical-align: bottom\">Comprehensive income (loss) per share &#8211; diluted<\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>\u00a0<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">\n            <strong>$<\/strong>\n          <\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">\n            <strong>(0.60<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\n            <strong>)<\/strong>\n          <\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(0.64<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<td style=\"vertical-align: bottom\">\u00a0<\/td>\n<td style=\"border-bottom: solid black 1pt;vertical-align: bottom\">$<\/td>\n<td style=\"border-bottom: solid black 1pt;text-align: right;vertical-align: middle;vertical-align: bottom\">(2.51<\/td>\n<td style=\"vertical-align: bottom\">)<\/td>\n<\/tr>\n<\/table>\n<p align=\"justify\">\n        <br \/>(1)\u00a0\u00a0\u00a0Included in other income (expense).<br \/>(2)\u00a0\u00a0\u00a0Cost of goods sold includes non-cash inventory write downs of $38,666 in Q1 2025 and a write down of $10,421 in Q2 2025 and would have been $1,276,293 in Q1 2025 and $1,600,242 in Q2 2025 before these write downs.<br \/>(3)\u00a0\u00a0\u00a0Gross profit would have been $271,422 in Q1 2025 and $515,013 in Q2 2025 without the write downs in number 2 above. <br \/>(4)\u00a0\u00a0\u00a0Cost of goods sold includes non-cash inventory write downs of $134,410 in Q2 2024 and would have been $1,136,907 in Q2 2024 before these write downs.<br \/>(5)\u00a0\u00a0\u00a0Gross profit would have been $596,083 in Q2 2024, without the write downs in number 4 above.<\/p>\n<p><strong>About Draganfly<\/strong><\/p>\n<p align=\"justify\">Draganfly Inc. (NASDAQ: DPRO; CSE: DPRO; FSE: 3U8) is the creator of quality, cutting-edge drone solutions, software, and AI systems that revolutionize the way organizations can do business and service their stakeholders. Recognized as being at the forefront of technology for over 25 years, Draganfly is an award-winning industry leader serving the public safety, public health, mining, agriculture, industrial inspections, security, mapping, and surveying markets. Draganfly is a company driven by passion, ingenuity, and the need to provide efficient solutions and first-class services to its customers around the world with the goal of saving time, money, and lives.<\/p>\n<ul type=\"disc\">\n<li>\n          <a href=\"http:\/\/www.thecse.com\/en\/listings\/technology\/draganfly-inc\" rel=\"nofollow\" target=\"_blank\"><br \/>\n            <u>CSE<\/u><br \/>\n          <\/a>\n        <\/li>\n<li>\n          <a href=\"http:\/\/www.nasdaq.com\/market-activity\/stocks\/dpro\" rel=\"nofollow\" target=\"_blank\"><br \/>\n            <u>NASDAQ<\/u><br \/>\n          <\/a>\n        <\/li>\n<li>\n          <a href=\"http:\/\/www.boerse-frankfurt.de\/equity\/draganfly-inc-1\" rel=\"nofollow\" target=\"_blank\">FRANKFURT<\/a><br \/>\n          \n        <\/li>\n<\/ul>\n<p>\n        <strong>Media Contact<\/strong><br \/>\n        <br \/>Erika Racicot<br \/>Email:<a href=\"https:\/\/www.globenewswire.com\/Tracker?data=esiwlEX0VCW-MxkLrzd63iyESJO5FxGU7ICxFeu3qfVcUCpc2RZN1tRm9yTcZ7DLHNuofPI2jpxUh_fe4YDoIQT0ObsL0hkVMT9A8sV246q294Q0fT0xN8_cjPi3CWiPFslUkVo-PcHhy695J7rrr58EGCNjjJrlfLuyFtUEvBTB7J4ZbQp6Lf__PfvrSAykqMIF9-cMx0K0kBN83eICRSBs-yL2uvL3wdBPXk7Nng7CWGJOg13Hy3PBSwxARZJ_XxYauhrSyfFramq9mOVDJw==\" rel=\"nofollow\" target=\"_blank\"><u>media@draganfly.com<\/u><\/a><\/p>\n<p>\n        <strong>Company Contact<\/strong><br \/>\n        <br \/>Cameron Chell<br \/>Chief Executive Officer<br \/>(306) 955-9907<br \/><a href=\"https:\/\/www.globenewswire.com\/Tracker?data=rd85_HC7xjBnihmvdfSYacFIQEbDynJGrz5feXEPGxrqyGWfVA2JZRkV6Lqb-4WYS4MtQjyePIsLneHvmQirjTcJcPuyKeyKnJCLKZZViKbCsVSysc5VIfREa38ub_qx3gJQxN02ZvKVKcOUawHQ4w==\" rel=\"nofollow\" target=\"_blank\"><u>info@draganfly.com<\/u><\/a><\/p>\n<p align=\"justify\">\n        <strong>Note Regarding Non-GAAP Measures<\/strong>\n      <\/p>\n<p align=\"justify\">In this press release we describe certain income and expense items that are unusual or non-recurring. There are terms not defined by International Financial Reporting Standards (IFRS). Our usage of these terms may vary from the usage adopted by other companies. Specifically, gross profit and gross margin are undefined terms by IFRS that may be referenced herein. We provide this detail so that readers have a better understanding of the significant events and transactions that have had an impact on our results.<\/p>\n<p align=\"justify\">Throughout this release, reference is made to \u201cgross profit,\u201d and \u201cgross margin,\u201d which are non-IFRS measures. Management believes that gross profit, defined as revenue less operating expenses, is a useful supplemental measure of operations. Gross profit helps provide an understanding on the level of costs needed to create revenue. Gross margin illustrates the gross profit as a percentage of revenue. Readers are cautioned that these non-IFRS measures may not be comparable to similar measures used by other companies. Readers are also cautioned not to view these non-IFRS financial measures as an alternative to financial measures calculated in accordance with International Financial Reporting Standards (\u201cIFRS\u201d). For more information with respect to financial measures which have not been defined by GAAP, including reconciliations to the closest comparable GAAP measure, see the &#8220;Non-GAAP Measures and Additional GAAP Measures&#8221;\u200e section of the Company\u2019s most recent MD&amp;A which is available on SEDAR.<\/p>\n<p>\n        <strong>Forward-Looking Statements<\/strong>\n      <\/p>\n<p align=\"justify\">This release contains certain \u201cforward looking statements\u201d and certain \u201cforward-looking information\u201d as \u200edefined under applicable Canadian securities laws. Forward-looking statements and information can \u200egenerally be identified by the use of forward-looking terminology such as \u201cmay\u201d, \u201cwill\u201d, \u201cexpect\u201d, \u201cintend\u201d, \u200e\u200e\u201cestimate\u201d, \u201canticipate\u201d, \u201cbelieve\u201d, \u201ccontinue\u201d, \u201cplans\u201d or similar terminology. Forward-looking statements \u200eand information are based on forecasts of future results, estimates of amounts not yet determinable and \u200eassumptions that, while believed by management to be reasonable, are inherently subject to significant \u200ebusiness, economic and competitive uncertainties and contingencies. Forward-looking statements and \u200einformation are subject to various known and unknown risks and uncertainties, many of which are beyond \u200ethe ability of the Company to control or predict, that may cause the Company\u2019s actual results, \u200eperformance or achievements to be materially different from those expressed or implied thereby, and are \u200edeveloped based on assumptions about such risks, uncertainties and other factors set out here in, \u200eincluding but not limited to statements in respect of Draganfly\u2019s partnerships, capabilities and expertise, as well as its financial condition, the successful integration of technology, the inherent risks involved in \u200ethe general securities markets; uncertainties relating to the availability and costs of financing needed in \u200ethe future; the inherent uncertainty of cost estimates and the potential for unexpected costs and \u200eexpenses, currency fluctuations; regulatory restrictions, liability, competition, loss of key employees and \u200eother related risks and uncertainties disclosed under the heading \u201cRisk Factors\u201c in the Company\u2019s most \u200erecent filings filed with securities regulators in Canada on the SEDAR website at www.sedar.com. The \u200eCompany undertakes no obligation to update forward-looking information except as required by \u200eapplicable law. Such forward-looking information represents managements\u2019 best judgment based on \u200einformation currently available. No forward-looking statement can be guaranteed and actual future results \u200emay vary materially. Accordingly, readers are advised not to place undue reliance on forward-looking \u200estatements or information.<\/p>\n<p>      <img decoding=\"async\" alt=\"\" class=\"__GNW8366DE3E__IMG\" src=\"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDQyNyM3MDkzOTM4IzUwMDA2OTE2MQ==\" \/><br \/>\n      <br \/>\n      <img decoding=\"async\" alt=\"\" src=\"https:\/\/ml.globenewswire.com\/media\/ZWY5MzdkYzgtN2Q1Zi00Mjg2LTgyZjctODVjZTVjMTNjMzkyLTUwMDA2OTE2MS0yMDI1LTA4LTExLWVu\/tiny\/Draganfly-Inc.png\" \/>\n    <\/div>\n<div class=\"mw_contactinfo\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>Vancouver, BC., Aug. 11, 2025 (GLOBE NEWSWIRE) &#8212; Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (\u201cDraganfly\u201d or the \u201cCompany\u201d), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its second quarter financial results. Key Financial and Operational Highlights for Q2 2025: Revenue for the second quarter of 2025 was $2,115,255 which represents a 22.1% year over year increase. Product sales of $1,901,585 were up 37.1% over the same period last year. Gross profit for Q2 2025 was $504,592 up 9.3% from $461,673 for the same period last year. Gross margin percentage for Q2 2025 was 23.9% compared to 26.6% in Q2 2024. Gross profit would have been $515,013 and gross margin would have been 24.3%, not &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-874265","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v28.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"Vancouver, BC., Aug. 11, 2025 (GLOBE NEWSWIRE) &#8212; Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (\u201cDraganfly\u201d or the \u201cCompany\u201d), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its second quarter financial results. Key Financial and Operational Highlights for Q2 2025: Revenue for the second quarter of 2025 was $2,115,255 which represents a 22.1% year over year increase. Product sales of $1,901,585 were up 37.1% over the same period last year. Gross profit for Q2 2025 was $504,592 up 9.3% from $461,673 for the same period last year. Gross margin percentage for Q2 2025 was 23.9% compared to 26.6% in Q2 2024. 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Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/","og_locale":"en_US","og_type":"article","og_title":"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales - Market Newsdesk","og_description":"Vancouver, BC., Aug. 11, 2025 (GLOBE NEWSWIRE) &#8212; Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) (\u201cDraganfly\u201d or the \u201cCompany\u201d), an award-winning, industry-leading drone solutions and systems developer, is pleased to announce its second quarter financial results. Key Financial and Operational Highlights for Q2 2025: Revenue for the second quarter of 2025 was $2,115,255 which represents a 22.1% year over year increase. Product sales of $1,901,585 were up 37.1% over the same period last year. Gross profit for Q2 2025 was $504,592 up 9.3% from $461,673 for the same period last year. Gross margin percentage for Q2 2025 was 23.9% compared to 26.6% in Q2 2024. Gross profit would have been $515,013 and gross margin would have been 24.3%, not &hellip; Continue reading \"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/","og_site_name":"Market Newsdesk","article_published_time":"2025-08-11T22:04:58+00:00","og_image":[{"url":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDQyNyM3MDkzOTM4IzUwMDA2OTE2MQ==","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"8 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales","datePublished":"2025-08-11T22:04:58+00:00","mainEntityOfPage":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/"},"wordCount":1671,"image":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/#primaryimage"},"thumbnailUrl":"https:\/\/www.globenewswire.com\/newsroom\/ti?nf=OTUxMDQyNyM3MDkzOTM4IzUwMDA2OTE2MQ==","inLanguage":"en-US"},{"@type":"WebPage","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/","url":"https:\/\/www.marketnewsdesk.com\/index.php\/draganfly-announces-second-quarter-results-of-2025-with-37-increase-in-yoy-product-sales\/","name":"Draganfly Announces Second Quarter Results of 2025 with 37% Increase in YoY Product Sales - 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