Drone Delivery Canada recorded its highest-ever revenue $826,446 in 2022, a 140% year-0n-year increase that helped cut its net loss for the year by $1.3 million compared to 2021.
The company said it had successfully tested the avionics components of its Condor heavy-lift drone and "completed numerous successful deployments of the Parachute Recovery System during testing" at a facility for smaller drone models.
DDC said it is "working towards the further development of detect-and-avoid systems, which are intended to facilitate beyond visual line of sight operations, which accordingly has the potential to significantly reduce operational costs".
Almost 3,000 flights DDC flights were carried out in 2022 for 240% increase in the distance flown, with over 7,000 kilometers covered.
"We have been very busy over the last year reorganising the organisation and adding new leadership talent in key areas including engineering, sales, marketing and human resources. As a result of these changes and the efforts to date, we are in a position to realise the benefits of these changes going forward," said Steve Magirias, of DDC's chief executive