Draganfly Inc(DPRO)

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EXPLORE ADVISORIES AND THEIR HISTORY
QUALITY SIGNAL
1-STAR RATING
PASS
LAST CLOSE
$3.44
11/02/2026
(24-hour delay)

Advisory History & Simulated Performance *

*as per simulation (see disclosures)
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Upturn Stock price based on last close iconStock price based on last close
Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Advisory Performance History (Simulated)Advisory Performance History info

Simulated performance—not actual client returns. Excludes advisory subscription fees, trading commissions, and taxes, which would reduce returns. Results depend on calculation assumptions and do not guarantee future outcomes. See Disclosures for full methodology, assumptions, and limitations.

Upturn Advisory & Investor View for DPRO

11/02/2026: DPRO (1-star) is currently NOT-A-BUY. Pass it for now.

Draganfly Inc is a long-standing developer of unmanned aerial vehicle (UAV) systems and AI-integrated software services for public safety, defense, and industrial markets. The company differentiates itself through North American-based manufacturing, which is highly valued for secure government operations. While Draganfly has demonstrated strong technical expertise and achieved key contract wins, it faces significant execution risk due to a history of operational losses and intense competition from larger defense contractors. The primary investment story rests on scaling its 'Drone-as-a-Service' model and securing high-value defense contracts. Investors should be prepared for high volatility and monitor the firm's progress toward achieving sustainable profitability.

How to Read the Upturn Advisory

The Upturn Star Rating and the current BUY, SELL, or PASS advisory are generated by Upturn’s AI advisory engine based on proprietary signal analysis, price behavior, advisory history, and historical signal performance.

Company fundamentals, valuation, risks, and news provide supporting context about the business.

Investor Fit

Investor styleFitWhy
Growth investorMixed fitThe company offers growth exposure to the drone industry, but execution remains unproven at scale.
Momentum investorStrong fit while signal remains positiveHigh volatility can create short-term opportunities for traders during active contract news cycles.
Value investorWeak fitThe company lacks consistent profitability and traditional value metrics.
Dividend investorWeak fitThere is no history or prospect of dividend payments in the near future.
Low-risk investorWeak fitHigh volatility and operational risks make this unsuitable for low-risk portfolios.

Risk Profile

Risk factorLevelWhy it matters
Price volatilityHighThe stock is susceptible to rapid price swings based on news and market sentiment.
Valuation riskHighFuture growth expectations are heavily priced in, leaving little room for error.
Competition risk (drone manufacturing)HighIntense competition from low-cost providers and large defense contractors threatens margins.
Business qualityMediumThe company has strong technical expertise but lacks an established moat in manufacturing.
Dividend incomeLow / noneInvestors should not expect income generation from this holding.
Execution riskHighFailure to convert prototypes into profitable, high-volume contracts could hinder long-term viability.

Price Behavior

Steep Decline
PRICE PATH

Steep Decline

The stock price has dropped sharply with strong downward pressure.

Highly Choppy
PRICE STABILITY

Highly Choppy

The stock has experienced frequent, large price swings that make its near-term movement less predictable.

Analysis of Past Performance

Type Stock
Historic Profit -51.57%
Avg. Invested days 12
Today’s Advisory PASS
Upturn Advisory Rating upturn star rating icon
Upturn Advisory Performance Upturn Advisory Performance icon 2.0
Stock Returns Performance Upturn Returns Performance icon 1.0
Upturn Profits based on simulation icon Profits based on simulation
Upturn last close icon Last Close 11/02/2026

Upturn Scorecard

Upturn Star Rating

★★★★★
DPRO receives a 2-star rating, supported by solid analyst coverage. The rating is constrained by weak unit economics, soft company fundamentals, and soft quantitative characteristics.

Company Fundamentals

★★★★★
DPRO has soft overall fundamentals (2 stars), with soft financial health, soft growth momentum, and moderate ownership. In FY2025 versus FY2024, solid revenue growth (+17.8%) is partially offset by negative earnings growth (-65.6%), weak cash generation (FCF margin -320.5%), weak profitability (net margin -297.3%).

Financial Health Rating

★★★★★
DPRO's financial health is soft, with the relatively strongest area being moderate liquidity, including working-capital and asset support (WC/assets 93.9%). Operating efficiency is weak (1 stars), which helps explain the 2-star overall score.

Growth Momentum Score

★★★★★
Revenue growth is DPRO's strongest growth driver at +17.8% FY2025 versus FY2024 (solid, 4 stars). By comparison, while earnings growth (-65.6%, negative) and free-cash-flow growth (-106.5%, negative) hold the profile back, so recent growth is not broad-based across the business.

Ownership

★★★★★
Institutional ownership is 11.4% (soft) and 93.9% of outstanding shares are publicly tradable (strong). Insider ownership is only 0.17%, which materially reduces the ownership score.

Top 5 Institutional Investors

Needham Investment Management, LLC 3.19%
Vident Advisory, LLC 1.14%
Morgan Stanley - Brokerage Accounts 1.09%
LPL Financial Corp 0.97%
ExodusPoint Capital Management, LP 0.88%

Unit Economics (Per $1K Revenue)

★★★★★
DPRO generates approximately $171 of gross profit, $-2,689 of operating income, and $-3,205 of free cash flow for every $1,000 of revenue. Based on FY2025 results. Operating losses and cash burn explain the 1-star rating, with weak cash conversion and weak capital efficiency.

Economic Dimensions

★★★★★
Effective Tax Rate: 0.00%

Quantitative Style Profile

★★★★★
DPRO has a liquid profile. Weak momentum is the primary drawback, while soft valuation.

Style Classification

Quality Focused

High VolatilitySmall / Mid Cap RiskShort Squeeze RiskHighly Liquid / Institution-Friendly

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 137.39M USD
Price to earnings Ratio -
1Y Target Price 10.86
Price to earnings Ratio -
1Y Target Price 10.86
Volume (30-day avg) 997.9K shares
Beta 3.73
52 Weeks Range 3.31 - 10.62
Updated Date 11/01/2026
52 Weeks Range 3.31 - 10.62
Updated Date 11/01/2026
Dividends yield (FY) -
Basic EPS (TTM) -0.76

How Company Makes Money

Business areaWhat it includesRetail investor read
Hardware SalesSale of UAV platforms including Commander 3 XL and industrial heavy-lift drones.Revenue is driven by selling equipment to commercial and government customers.
Software & ServicesAI-driven data analysis, pilot training, and mission-consulting fees.This segment aims to provide recurring, higher-margin revenue through software subscriptions and specialized technical support.

Analyzing Revenue: Products, Geography and Growth

Revenue by Products

Product revenue - Year on Year

Revenue by Geography

Geography revenue - Year on Year

Valuation

Trailing PE -
Forward PE -
Enterprise Value 41.58M
Price to Sales(TTM) 15.19
Enterprise Value 41.58M
Price to Sales(TTM) 15.19
Enterprise Value to Revenue 6.43
Enterprise Value to EBITDA -7.79
Shares Outstanding 39.14M
Shares Floating 36.76M
Shares Outstanding 39.14M
Shares Floating 36.76M
Percent Insiders 0.17
Percent Institutions 11.4

Financial Metrics

🧭 Investment Snapshot

Total Revenue (Scale)

Information icon Total money earned from selling products or services before any costs. It is needed to understand the scale of the business and its ability to generate income.

Net Income (Profit)

Information icon Final profit after all expenses, interest, and taxes are deducted. It is needed to determine the overall profitability available to shareholders.

Free Cash Flow (Cash Strength)

Information icon Cash remaining after operating activities and capital expenditures, showing cash available for growth. It is needed to evaluate the company’s ability to invest, pay dividends, or reduce debt.

📈 Growth & Strength

Operating Income (Core Profit)

Information icon Profit from core operations after deducting all operating expenses. It is needed to measure how efficiently the company runs its primary business activities.

EBITDA (Cash Earnings)

Information icon Earnings before interest, taxes, depreciation, and amortization, indicating operating cash potential. It is needed to compare operating performance across companies without accounting or financing differences.

Gross Profit (Unit Profitability)

Information icon Revenue minus cost of revenue, showing profit after direct production costs. It is needed to evaluate core business profitability before overhead expenses.

🛡️ Financial Safety

Cash (Liquidity Buffer)

Information icon Total cash and cash equivalents on hand. It is needed to evaluate immediate liquidity and financial flexibility.

Total Debt (Leverage Risk)

Information icon Total debt including both short-term and long-term components. It is needed to assess the company’s leverage and financial risk.

Net Working Capital (Short-Term Health)

Information icon Current assets minus current liabilities, indicating short-term liquidity strength. It is needed to assess whether the company can meet its short-term obligations.

🧱 Balance Sheet Strength

Stockholder Equity (Net Worth)

Information icon Total equity value held by shareholders. It is needed to understand the net worth of the company from the owners’ perspective.

Total Assets (Asset Base)

Information icon The full value of everything the company owns, including cash, inventory, equipment, and investments. It is needed to understand the resource base used to generate revenue.

Income Before Tax (Pre-Tax Earnings)

Information icon Income before provision for income taxes. It is needed to analyze profitability independent of tax structures.

⚙️ Cost & Drag Factors

Cost of Revenue (Production Cost)

Information icon Direct costs required to produce and deliver the products or services sold. It is needed to assess efficiency in production and service delivery.

Total Operating Expenses (Operating Cost)

Information icon Indirect costs of running the business such as salaries, marketing, and administration. It is needed to understand how much it costs to sustain ongoing business operations.

Income Tax Expense (Tax Drag)

Information icon Amount of taxes paid or payable to the government. It is needed to evaluate the impact of taxation on overall profitability.

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