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SEGMENTED INFORMATION
 12 Months Ended
Dec. 31, 2023
Notes and other explanatory information [abstract]  
SEGMENTED INFORMATION

18. SEGMENTED INFORMATION

 

The Company organizes its three segments based on product lines as well as a Corporate segment. The three segments are Drones, Vital (Vital Intelligence), and Corporate. The Drones segment derives its revenue from products and services related to the sale of unmanned aerial vehicles (UAV). The Vital segment derives its revenue from the sale of products that measure vitals to help detect symptoms from large groups of people from a distance. The Corporate segment includes all costs not directly associated with the Drone and Vital segments. The Company aggregates the information for the segments by analyzing the revenue steam and allocating direct costs to that respective segment. The Corporate segment is aggregated by relying on the entity that includes corporate costs (Draganfly Inc.)

 

Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision maker.

 

 

Draganfly Inc.

Notes to the Consolidated Financial Statements

For the Year Ended December 31, 2023

Expressed in Canadian Dollars

 

 

18. SEGMENTED INFORMATION (CONT’D)

 

The board of the Company relies on executive management which assesses the financial performance and position of the group and makes strategic decisions. Executive management, which has been identified as being the chief operating decision maker, consists of the chief executive officer, lead director, chief operating officer and chief financial officer.

 

December 31, 2023  Drones   Vital   Corporate   Total 
Sales of goods  $4,905,417   $381,676   $-   $5,287,093 
Provision of services   1,267,749    -    -    1,267,749 
Total revenue  $6,173,166   $381,676   $-   $6,554,842 
Segment loss  $14,743,176   $(140,366)  $8,323,731   $22,926,541 
Finance and other costs   (80,211)   -    (3,069)   (83,280)
Depreciation   499,530    -    11,148    510,677 
Amortization   35,960    -    -    35,960 
Change in fair value of derivative liability   -    -    (211,110)   (211,110)
Loss (recovery) on write-off of notes receivable   -    -    101,351    101,351 
Loss on write down of inventory   331,671    -    -    331,671 
Net loss for the year  $15,530,126   $(140,366)  $8,222,051   $23,611,810 

 

December 31, 2022  Drones   Vital   Corporate   Total 
Sales of goods  $5,388,262   $162,170   $-   $5,550,432 
Provision of services   2,054,627    -    -    2,054,627 
Total revenue  $7,442,889   $162,170   $-   $7,605,059 
Segment loss  $9,929,789   $602,580   $12,926,884   $23,459,253 
Finance and other costs   (3,529)   -    (40,186)   (44,345)
Depreciation   586,185    -    -    593,277 
Amortization   179,482    -    -    179,482 
Impairment of goodwill and intangibles   2,166,563    4,288,351    -    6,454,914 
Change in fair value of derivative liability   -    -    (5,502,688)   (5,502,688)
Loss on write-off of notes receivable   1,080,645    -    (771,260)   309,385 
Loss on write down of inventory   251,754    1,724,760    -    1,976,514 
Write down of deposit   -    228,572    -    228,572 
Net loss for the year  $14,190,889   $6,844,263   $6,619,212   $27,654,364 

 

December 31, 2021  Drones   Vital   Corporate   Total 
Sales of goods   4,957,134    146,265    -    5,103,399 
Provision of services   1,950,466    -    -    1,950,466 
Total revenue  $6,907,600   $146,265   $-   $7,053,865 
Segment loss  $7,819,739   $257,656   $10,498,164   $18,575,560 
Finance and other costs   16,272    -    (21,346)   (5,074)
Depreciation   175,098    -    -    175,098 
Amortization   135,966    -    -    135,966 
Impairment of goodwill and intangibles   -    4,579,763    -    4,579,763 
Change in fair value of derivative liability   -    -    (8,149,812)   (8,149,812)
Loss on write-off of notes receivable   -    -    891,471    891,471 
Net loss for the year  $8,147,075   $4,837,419   $3,218,477   $16,202,972 

 

 

   2023   2022      2021  
Geographic segmentation is as follows:  For the years ended December 31,  
   2023   2022    2021  
Non-current assets                  
Canada  $1,441,701   $1,121,821    $ 3,441,872  
United States   206,616    -      5,112,659  
   $1,648,317   $1,121,821    $ 8,554,531  
Revenue                  
Canada  $6,162,672   $6,919,038    $ 4,982,373  
United States   392,170    686,021      2,071,492  
Revenue  $6,554,842   $7,605,059    $ 7,053,865  

 

Geographic revenue is measured by aggregating sales based on the country and the entity where the sale was made.

 

 

Draganfly Inc.

Notes to the Consolidated Financial Statements

For the Year Ended December 31, 2023

Expressed in Canadian Dollars