DPRO · Draganfly Inc.

Draganfly Inc. reported its Q1 2026 results, highlighting a substantial increase in cash and total assets. Cash and cash equivalents rose to $147.3 million as of March 31, 2026, from $90.2 million at December 31, 2025, primarily driven by a public offering completed on February 23, 2026. The offering consisted of 5,030,000 units (each comprising one common share) at USD $7.00 per unit and 2,120,000 pre-funded units at USD $6.99 per unit, generating gross proceeds of approximately USD $50.0 million (CAD $68.3 million). Net proceeds after share issue costs were CAD $60.1 million. All pre-funded warrants were exercised by quarter-end using the cashless exercise feature. The company's total assets increased to $161.1 million from $101.4 million, while total liabilities remained modest at $5.4 million. Inventory grew to $7.7 million from $3.9 million, suggesting increased production or procurement. The balance sheet strengthening provides the company with significant liquidity to fund operations and growth initiatives. However, the filing did not disclose revenue or net income figures for the quarter, limiting visibility into operational performance. The MD&A notes the company's history of losses and reliance on financing, but the recent capital raise alleviates near-term funding concerns.