The sharp miss on both top and bottom lines relative to consensus, combined with operating losses escalating dramatically, points to deteriorating unit economics. The high cash balance from equity dilution (shares outstanding up 27% since Dec 2025) provides runway but raises overhang concerns. Monitor next quarter's cash burn rate and any guidance on path to profitability; the operational contract wins may provide a floor but are not yet reflected in financials.
Price Chart
Executive Summary
Draganfly reported Q2 2026 revenue of $2.66M (up 26% YoY but missing consensus of $3.2M) and GAAP EPS of -$0.33 (missing consensus -$0.20 by 65%). Operating losses widened sharply to $15.6M from $4.5M YoY, driven by a large non-cash stock-based compensation grant and increased spending, partially offset by a strong cash position of $131.9M from recent financing.
Key Financial Metrics
Key Facts
- Revenue $2.66M missed consensus $3.2M by 16.8%
- GAAP EPS -$0.33 missed consensus -$0.20 by 65%
- Gross margin fell to 20.0% from 23.9% YoY; adjusted gross margin 21.7%
- Operating loss widened to $15.6M from $4.5M YoY, includes $3.74M in stock-based compensation
- Cash and cash equivalents $131.9M vs $90.2M at Dec 2025, boosted by financing
- Revenue grew 26% YoY driven by product sales up 34.6%
- Several operational wins: DoD contracts, ACSL distribution deal, Skip Dynamix acquisition
Financial Impact
Revenue miss of ~$536K (16.8%) and EPS miss of $0.13 (65%) drove negative sentiment; operating loss more than tripled YoY to $15.6M
Risk Factors
- Ongoing cash burn and reliance on equity financing for runway
- Dilution from recent financing (shares outstanding increased 27% since Dec 2025)
- Operating expenses growing faster than revenue (up 224% YoY vs revenue up 26%)
- Competitive pressures in drone defense market
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 1 press release from GlobeNewswire.
| Document | Accession Number |
|---|---|
| PRESS-RELEASE Data (Synthetic) | press-3342285 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 13, 2026 13d ago | 6-K | $4.19 $3.58 | ▼ −14.56% | ▼ −13.41% | $3.35 (−20.05%) |
Oct 13, 2026 13d ago | 6-K | $4.19 $3.58 | ▼ −14.56% | ▼ −13.41% | $3.35 (−20.05%) |
Oct 8, 2026 18d ago | 6-K | $4.40 $3.70 | ▼ −15.91% | ▼ −13.94% | $3.35 (−23.86%) |
Sep 30, 2026 26d ago | 6-K | $6.08 $4.70 | ▲ +22.70% | ▲ +24.61% | $3.35 (+44.90%) |
Sep 28, 2026 28d ago | 6-K | $5.60 $4.90 | ▲ +12.42% | ▲ +13.63% | $3.35 (+40.13%) |
Sep 16, 2026 5w ago | 6-K | $5.43 $5.36 | ▼ −1.29% | ▼ −3.85% | $3.35 (−38.31%) |
Sep 11, 2026 6w ago | 6-K | $5.61 $5.62 | ▲ +0.18% | ▲ +0.40% | $3.35 (−40.29%) |
Sep 1, 2026 7w ago | 6-K | $5.38 $5.77 | ▲ +7.25% | ▲ +7.17% | $3.35 (−37.73%) |
Aug 25, 2026 8w ago | 6-K | $4.33 $5.38 | ▲ +24.25% | ▲ +24.79% | $3.35 (−22.63%) |
Aug 10, 2026 11w ago | Press Release | $4.43 $4.46 | ▼ −0.68% | ▼ −1.08% | $3.35 (+24.38%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers