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TAMPA, FL - Draganfly Inc. (NASDAQ: DPRO), a prominent drone solutions provider with a market capitalization of $13.05 million and annual revenue of $4.56 million, has been chosen by SafeLane Global Ltd. to supply unmanned aerial systems (UAS) and aerial survey services for landmine clearance in Ukraine. This collaboration is set to improve the detection and removal of explosive threats in one of the world's most mine-contaminated countries. According to InvestingPro analysis, Draganfly appears undervalued based on its Fair Value metrics, with analysts anticipating sales growth in the current year.
The partnership, announced today, will see Draganfly delivering advanced drone solutions, including UAVs with specialized sensors and data analysis, to support SafeLane's initiatives in clearing landmines and explosive remnants of war (ERW). SafeLane is recognized for its expertise in explosive threat mitigation and is one of two private entities licensed by the Ukrainian Ministry of Defense for such operations. InvestingPro data shows Draganfly maintains a healthy current ratio of 1.73 and holds more cash than debt on its balance sheet, suggesting financial stability to support this initiative.
Cameron Chell, President and CEO of Draganfly, stated that the alliance with SafeLane represents a significant chance to apply Draganfly's technology to vital humanitarian and defense efforts. The companies plan to co-develop intellectual property and standard operating procedures tailored for aerial mine detection and clearance, with SafeLane leading proposal submissions and operational deployment while Draganfly provides the necessary technology and support.
Asa Gilbert, Director of Business Development at SafeLane, emphasized the expected increase in safety and efficiency for their operations due to Draganfly's drone-based technology. The partnership is seen as a critical step in aiding communities to recover from conflict legacies.
According to the Landmine Monitor 2023, over 60 million landmines remain buried across more than 60 countries, posing a significant risk to civilians. The collaboration between Draganfly and SafeLane aims to address this persistent threat, particularly in Ukraine, which has a high concentration of landmines due to ongoing conflict.
This initiative places Draganfly at the forefront of the defense and humanitarian sectors, contributing to the creation of safer environments in vulnerable regions worldwide. With a gross profit margin of 30.87%, the company demonstrates operational efficiency in its existing projects. The information for this article is based on a press release statement. For deeper insights into Draganfly's financial health and growth potential, including 13 additional ProTips and comprehensive analysis, visit InvestingPro to access the full Pro Research Report.
In other recent news, Draganfly Inc. reported a notable financial performance for the fourth quarter of 2024, with revenue rising by 76% year-over-year to $1.61 million. The company successfully narrowed its total comprehensive loss to $14.06 million, a significant improvement from the previous year's $23.7 million. Draganfly's annual revenue remained flat at $6.56 million, while its gross profit stood at $1.39 million. In addition to these financial results, Draganfly has been chosen as the primary drone supplier for Balko Technologies, a partnership aimed at enhancing industrial, energy, and environmental monitoring applications across North America. The collaboration follows the successful integration of Balko's LiDAR technology with Draganfly's drones, including the Commander 3XL model. Furthermore, Draganfly's strategic positioning in the UAV market has been bolstered by the addition of notable figures to its advisory board, including former acting Secretary of Defense Chris Miller. Analysts from various firms have noted Draganfly's potential for future growth, with expectations of large contract announcements in the near term.
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