Draganfly (DFLYF) Stock Extends Rally After The Solid Earnings

As the earnings season continues at full tilt, investors need to be keep their eyes peeled for the companies which are reporting impressive results. Yesterday, the drone solution development company Draganfly (OTCMKTS:DFLYF) announced its financial results for the first quarter and managed to generated revenues of $1539736. The was the highest revenues ever recorded by Draganfly and on top of that it also reflected a year on year rise of as much as 209.8%.

The company’s impressive performance was primarily a function of organic growth, the sales of COVID 19 screening items and through the acquisition of Dronelogics Systems Inc. On the other hand, the gross margins in the first quarter went up to 33.4% and that also marks a considerable improvement from 22.2% in gross margins in the previous quarter.

The strong performance was welcomed by the markets and the Draganfly stock went up by as much as 10%. Investors could consider keeping an eye on the stock today.