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TAMPA, FL - Draganfly Inc. (NASDAQ: DPRO), a developer of drone solutions with a market capitalization of $15.14 million and annual revenue of $4.56 million, has announced a strategic teaming agreement with Autonome Labs, a company specializing in humanitarian technology, to create an aerial deployment system for demining. This collaboration aims to integrate Draganfly’s Heavy Lift drone with Autonome’s M.A.G.I.C. system, a mesh-based technology designed to detonate and neutralize landmines.
The joint initiative is set to enhance the safety and efficiency of clearing landmines, significantly reducing the risk to human demining teams and expediting the process of restoring safe, usable land. Cameron Chell, CEO of Draganfly, emphasized the life-saving potential and community rebuilding benefits of this technology. According to InvestingPro data, the company maintains a healthy balance sheet with more cash than debt and a strong current ratio of 1.73, providing financial flexibility for such innovative projects.
The Heavy Lift drone, known for its precision and high-capacity transport capabilities, will be adapted to support the low-altitude, precision deployment of Autonome’s smart mesh system. Kyle Debanks, COO of Autonome Labs, highlighted the importance of this collaboration in advancing autonomous technologies for high-risk environments.
Testing and integration of the system are scheduled to begin in 2025, with pilot operations planned in post-conflict regions later the same year. InvestingPro analysis reveals 13 additional key insights about Draganfly’s financial health and market position, available to subscribers.
Autonome Labs is recognized for its advanced autonomous and robotic systems for high-stakes scenarios, leveraging AI to tackle challenges such as automated drone platforms and autonomous firefighting robots.
Draganfly, with over 25 years in the industry, provides a range of drone-based solutions for public safety, agriculture, industrial inspections, and more. The company is dedicated to delivering technology that can save time, money, and lives.
This news is based on a press release statement and contains forward-looking information subject to risks, uncertainties, and assumptions. While InvestingPro’s Fair Value analysis suggests the stock is currently undervalued, it’s important to note that actual results and the timing of events could differ materially from those projected in the forward-looking statements due to various factors, particularly given the company’s current cash burn rate and unprofitable status over the last twelve months.
In other recent news, Draganfly Inc. reported a substantial improvement in its financial performance for the fourth quarter of 2024. The company’s revenue surged by 76% year-over-year, reaching $1.61 million, while its total comprehensive loss narrowed to $14.06 million from $23.7 million the previous year. Additionally, Draganfly has been selected by SafeLane Global Ltd. to supply drone technology for landmine clearance in Ukraine, enhancing the safety and efficiency of operations in one of the most mine-contaminated regions globally. The company also entered into a partnership with Balko Technologies, becoming the primary provider of Unmanned Aerial Systems, which will be distributed across North America. This collaboration aims to boost industrial, energy, and environmental monitoring applications. Furthermore, Draganfly’s recent initiatives include the launch of innovative drone products and securing FAA waivers for medical drone deliveries in Boston. The company anticipates large contract announcements in the near future, with expectations of achieving profitability potentially by 2026.
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