DPRO · NasdaqCM
Draganfly
Commercial / public-safety sUAS, some defense marketing
Research score
20
Adjust weights in Scoring
Last Q revenue
n.d.
2026-08-24
Q YoY
+49%
Backlog
n.d.
unable
Last print · Yahoo Finance spark (query1)
What it actually does
Canadian small UAS company listed on Nasdaq. Revenue still a few million a quarter.
Watchlist comparable, not a core U.S. name.
U.S.-listed (Nasdaq) drone OEM that fails the 'meaningful U.S. defense' bar for a core slot. Held as an international/watchlist comparable, not a core score leader.
Buy-side thesis
Cash vs. tiny sales can fund a pivot if a real U.S. vehicle appears — that vehicle is not in this set.
Sell-side thesis
No verified U.S. PoR. TTM ~$6M vs. ~$160M equity.
Historical dilution. Capacity claims ≠ orders.
Financial quality
Low revenue quality and visibility.
Earnings review
Q2 2026 printed mid-August; EPS ~−$0.24 in one recap. Use the 6-K, not the recap, for a model.
Why the score / why it can break
Supports
- Pure-play score 70 — the P&L is actually about drones/C-UAS.
- U.S.-listed (Nasdaq) drone OEM that fails the 'meaningful U.S. defense' bar for a core slot. Held as an international/watchlist comparable, not a core score leader.
- U.S.-listed (Nasdaq) drone OEM that fails the 'meaningful U.S. defense' bar for a core slot. Held as an international/watchlist comparable, not a core score leader.
Risks to the score
- Valuation risk is elevated vs. the rest of the book.
- Dilution / issuance flags are on.
- Execution risk is a primary discount.
Scenarios — not a price target
| Case | P | Revenue | Margins | Dilution | Multiple | Impl. cap / px |
|---|---|---|---|---|---|---|
| bear | 45% | Sub-$10M FY | deep losses | more paper | n.m. | <$80M / <$2 |
| base | 40% | Slow climb | losses | pauses | high PS | ~$160M / ~$4 |
| bull | 15% | A named U.S. vehicle | still thin | pauses | story multiple | >$400M / >$10 |
Implied prices are arithmetic from stated assumptions. They are not recommendations.