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draganFly Draganfly Announces Record Third Quarter Revenue -- Los Angeles , CA. , November 9 , 2021 Draganfly Inc. ( NASDAQ : DPRO ) ( CSE : DPRO ) ( FSE : 3U8 ) ( “ Draganfly ” or the “ Company ” ) , an award - winning , industry - leading drone solution developer and operator , is pleased to announce its third quarter financial results . Key Financial and Operational Highlights for Q3 2021 : • Revenue for the third quarter increased 30.5 % to $ 1,896,992 up from $ 1,453,905 in the third quarter of 2020. Third quarter revenue was made up of $ 1,351,517 from product sales while $ 411,756 was from drone services with the balance coming from engineering services . • Gross profit increased by $ 212,586 or 37.9 % for the third quarter over the same period last year . Gross margin percentage for Q3 2021 was 40.8 % compared to 38.5 % in Q3 2020. This was attributed to a larger contribution of engineering services this quarter versus the same period last year , as these services tend to have higher gross margins than the other categories . • Total comprehensive income for Q3 2021 was $ 24.0 million compared to a loss of $ 2.5 million in Q3 2020. The large increase is from the accounting treatment of a $ 30.6 million non - cash liability from USD warrants that were issued during the Company's Reg A offering . The year over year comprehensive income increased as Q3 2020 did not have the treatment of the USD warrants from the Company's Reg A offering . The increase year over year was somewhat offset by an increase in office and miscellaneous expenses and professional expenses . . • Cash balance on September 30 , 2021 of $ 28.0 million compared to $ 2.0 million on December 31 , 2020 . Draganfly signed a minimum $ 9 million manufacturing agreement with Digital Dream Labs , Inc. ( " DDL " ) to design and develop an Al consumer companion robot drone ( the " Drone ” ) . As per the terms of the announced agreement , Draganfly will be the exclusive manufacturer and assembler . DDL will order at least 50,000 units annually with delivery starting in 2022. The Drone will be integrated into DDL's existing product family , including support , sales , and distribution channels used for their other consumer robots . Draganfly has also been granted a right of first refusal to become the exclusive manufacturer and assembler of subsequent drone or UAV - based robots to be added to DDL's product portfolio . The parties have entered into a binding letter agreement reflecting the above terms and will use commercially reasonable efforts to enter into a definitive agreement . The binding letter agreement will govern the relationship between DDL and Draganfly and there can be no assurance that a definitive agreement will be completed or entered into amongst the parties . • Draganfly entered into an exclusive manufacturing agreement with Valqari LLC ( " Valqari ” ) to produce its Drone Delivery Stations . The Valqari Delivery Station is a patented universal drone receptacle for package delivery and pick - up . It will allow Valqari to revolutionize drone deliveries for industries including pharmaceuticals , meal delivery , grocery services , governments , and residential e - commerce . As per the manufacturing agreement , Draganfly will be the exclusive manufacturer of Valqari's Drone Delivery Stations . Valqari will be ordering at least $ 400,000 of manufacturing services during the initial phase of the agreement . • Draganfly successfully completed over 300 daytime drone delivery test flights with EMS personnel in Texas . 100 of the successful flights were completed with the Company's innovative temperature managed payload box , which can transport up to 15 pounds of medical supplies including vaccines and testing kits . The payload box is uniquely top mounted to make deliveries safer and more accessible . Initial night flight training and testing is being scheduled to commence . The data collected from Draganfly's daytime and night flight tests will be submitted to the Federal Aviation Administration ( FAA ) for approval to enter Phase 2 of its five - phase agreement with Coldchain