AgEagle Aerial Systems Highlights Historic Sales Achievements and New Strategic Vision in 2024
AgEagle Aerial Systems (NYSE: UAVS) reported significant achievements in 2024, securing three of its largest product orders in history: 49 eBee drones for the French military, 20 UAS drones for UAE security forces, and 60 RedEdge-P multispectral sensors for East Asia. The company completed a $6.5M public offering to provide working capital and reduce debt. Notable operational highlights include rebuilding the leadership team, receiving Green UAS Certification from AUVSI, and achieving net profitability improvements in Q3 2024 compared to the previous year. The company's strategic shift focused on defense and government verticals, demonstrating increased demand for their drone and sensor technologies.
AgEagle Aerial Systems (NYSE: UAVS) ha riportato risultati significativi nel 2024, assicurandosi tre dei suoi più grandi ordini di prodotto nella storia: 49 droni eBee per il militare francese, 20 droni UAS per le forze di sicurezza degli Emirati Arabi Uniti e 60 sensori multispettrali RedEdge-P per l'Asia orientale. L'azienda ha completato un offerta pubblica di $6.5 milioni per fornire capitale operativo e ridurre il debito. Tra i risultati operativi degni di nota ci sono la ricostruzione del team dirigente, il conseguimento della Certificazione Green UAS da AUVSI e il miglioramento della redditività netta nel terzo trimestre del 2024 rispetto all'anno precedente. Il cambiamento strategico dell'azienda si è concentrato sui settori della difesa e governativi, dimostrando una crescente domanda per le loro tecnologie di droni e sensori.
AgEagle Aerial Systems (NYSE: UAVS) reportó logros significativos en 2024, asegurando tres de sus más grandes pedidos de productos en la historia: 49 drones eBee para el ejército francés, 20 drones UAS para las fuerzas de seguridad de los EAU y 60 sensores multispectrales RedEdge-P para Asia Oriental. La compañía completó una oferta pública de $6.5 millones para proporcionar capital de trabajo y reducir la deuda. Los puntos destacados operativos incluyen la reconstrucción del equipo directivo, la obtención de la Certificación Green UAS de AUVSI y la mejora de la rentabilidad neta en el tercer trimestre de 2024 en comparación con el año anterior. El cambio estratégico de la empresa se centró en los sectores de defensa y gobierno, demostrando una creciente demanda de sus tecnologías de drones y sensores.
AgEagle Aerial Systems (NYSE: UAVS)는 2024년에 중요한 성과를 보고하였으며, 역사상 세 개의 가장 큰 제품 주문을 확보했습니다: 프랑스 군대용 49대의 eBee 드론, UAE 보안군용 20대의 UAS 드론, 동아시아용 60개의 RedEdge-P 다채널 센서. 이 회사는 운영 자본을 제공하고 부채를 줄이기 위해 650만 달러의 공모를 완료했습니다. 주요 운영 하이라이트로는 리더십 팀 재구성, AUVSI의 Green UAS 인증 획득 및 전년도 대비 2024년 3분기 순수익 개선이 포함됩니다. 회사의 전략적 변화는 방위 및 정부 수직을 중심으로 이루어졌으며, 드론 및 센서 기술에 대한 수요가 증가하고 있음을 보여주고 있습니다.
AgEagle Aerial Systems (NYSE: UAVS) a annoncé des réalisations significatives en 2024, en sécurisant trois de ses plus grandes commandes de produits de l'histoire : 49 drones eBee pour l'armée française, 20 drones UAS pour les forces de sécurité des Émirats arabes unis et 60 capteurs multispectraux RedEdge-P pour l'Asie de l'Est. L'entreprise a complété une offre publique de 6,5 millions de dollars pour fournir du capital de fonctionnement et réduire sa dette. Parmi les points forts opérationnels notables figurent la reconstruction de l'équipe de direction, l'obtention de la certification Green UAS de l'AUVSI et l'amélioration de la rentabilité nette au troisième trimestre de 2024 par rapport à l'année précédente. Le changement stratégique de l'entreprise s'est concentré sur les secteurs de la défense et du gouvernement, démontrant une demande croissante pour leurs technologies de drones et de capteurs.
AgEagle Aerial Systems (NYSE: UAVS) berichtete über bedeutende Erfolge im Jahr 2024, indem es drei der größten Produktbestellungen in seiner Geschichte sicherte: 49 eBee-Drohnen für das französische Militär, 20 UAS-Drohnen für die Sicherheitskräfte der VAE und 60 RedEdge-P-Multispektralsensoren für Ostasien. Das Unternehmen schloss ein Öffentliches Angebot über 6,5 Millionen US-Dollar ab, um Betriebskapital bereitzustellen und Schulden abzubauen. Zu den bemerkenswerten betrieblichen Höhepunkten gehören der Wiederaufbau des Führungsteams, der Erhalt der Green UAS-Zertifizierung von AUVSI und die Verbesserung der Nettorentabilität im dritten Quartal 2024 im Vergleich zum Vorjahr. Der strategische Wandel des Unternehmens konzentrierte sich auf Verteidigungs- und Regierungsvertikale, was eine zunehmende Nachfrage nach ihren Drohnen- und Sensortechnologien demonstriert.
- Secured three largest product orders in company history
- Achieved net profitability improvements in Q3 2024 YoY
- Completed $6.5M public offering for working capital and debt reduction
- Received Green UAS Certification from AUVSI for cybersecurity protection
- Required public offering indicating potential cash flow concerns
Insights
The strategic pivot towards defense and government verticals marks a transformative shift for AgEagle, evidenced by significant military contracts including 49 eBee drones for French forces and 20 UAS for UAE security. The
The company's presence at NATO and DoD events, combined with these major contract wins, positions AgEagle to capture market share in the rapidly expanding military UAS segment. However, with a market cap of just
The reported Q3 net profitability improvements and three record-breaking orders demonstrate operational momentum, though specific financial metrics are notably absent. The
While the transition to defense and government contracts provides more stable revenue potential compared to commercial markets, investors should note that government procurement cycles can be lengthy and unpredictable. The micro-cap status (
Refined mission yields record orders and significant net profitability improvements
WICHITA, Kan., Dec. 23, 2024 (GLOBE NEWSWIRE) -- Management of AgEagle Aerial Systems Inc.(NYSE: UAVS) (“AgEagle” or the “Company”), a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, highlights the Company’s historic sales achievements and new strategic vision in a Letter to Shareholders from CEO Bill Irby.
Dear Fellow Shareholders,
Without question, 2024 has been a landmark year for AgEagle. We executed a new strategic plan for growth, implemented operational enhancements, and achieved historic sales orders and net profitability increases. We believe the growing demand for our innovative drone and sensor technologies underscores the trust our clients place in our ability to deliver high-quality, reliable intelligence, surveillance, and reconnaissance solutions as we shifted to a focus on the defense and government verticals.
Our robust sales performance is a testament to the hard work and dedication of our team, as well as our strategic focus on expanding our market reach and enhancing our product offerings. These achievements not only reinforce our position as an industry leader but also pave the way for sustained growth and long-term shareholder value creation.
Record Sales Achievements
We achieved three of the largest product orders in AgEagle’s history:
- 49 UAS eBee Drone order for the French military
- 20 UAS Drone order for the UAE security forces
- 60 RedEdge-P multispectral sensors for East Asia to conduct seaweed species research and red tide outbreak
Operational Highlights
As we celebrate these sales milestones, we are also proud of our focused execution of a new mission and vision reflecting our commitment to driving innovation and strengthening our industry leadership role. Most notably, as previously announced, we:
- Rebuilt our entire leadership team to focus on growing the company while appointing three new highly qualified and experienced board directors, L.B. Day, Brent Klavon and Kevin Lowdermilk
- Completed a
$6.5M public offering, providing working capital, and helping to reduce debt on our balance sheet - Garnered an invitation to the White House to engage in strategic discussions regarding the future of commercial unmanned aerial vehicles (UAVs) with government officials from the National Security Council and National Economic Council to explore a variety of issues including supply chain security, manufacturing, and policies related to beyond visual line of sight operations (BVLOS) in U.S. airspace
- Received Green UAS Certification from AUVSI, verifying our cybersecurity protection and supply chain risk in concert with NDAA compliance
- Exhibited our best-in-class unmanned aerial systems (UAS), sensors and software solutions at a variety of prestigious exhibition events organized by key partners including NATO, U.S. Department of Defense and a variety of others.
- Realized net profitability improvements comparing Q-3 2024 9-month financials against the same period for the pervious year
Looking forward, AgEagle remains dedicated to continuing growing sales and building on the momentum generated together this year relying on the support of our valued shareholders, employees, and partners. We are plan to strengthen our product lines, explore new markets, and form strategic partnerships that we believe will enhance our capabilities and widen our footprint within both the defense and commercial aerial intelligence markets.
We are grateful for the support of our shareholders and confident in our strategic path forward to achieve new corporate heights and set new benchmarks in the drone industry. Thank you for being a part of our ongoing journey.
Sincerely yours,
Bill Irby
CEO
AgEagle Aerial Systems
About AgEagle Aerial Systems Inc.
Through its three centers of excellence, AgEagle is actively engaged in designing and delivering best-in-class flight hardware, sensors and software that solve important problems for its customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, AgEagle is a leading provider of full stack UAS, sensors and software solutions for customers worldwide in the energy, construction, agriculture, and government verticals. For additional information, please visit our website at www.ageagle.com.
Forward-Looking Statements
Certain statements in this press release may constitute “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as “anticipate,” “believe,” “contemplate,” “could,” “estimate,” “expect,” “intend,” “seek,” “may,” “might,” “plan,” “potential,” “predict,” “project,” “suggest,” “target,” “aim,” “should,” “will,” “would,” or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on AgEagle’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict, including risks related to the timing and fulfilment of current and future purchase orders relating to AgEagle’s products, the success of new programs, the ability to implement a new strategic plan and the success of a new strategic plan. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. For a further discussion of risks and uncertainties that could cause actual results to differ from those expressed in these forward-looking statements, as well as risks relating to the business of AgEagle in general, see the risk disclosures in the Annual Report on Form 10-K of AgEagle for the year ended December 31, 2023, and in subsequent reports on Forms 10-Q and 8-K and other filings made with the SEC by AgEagle. All such forward-looking statements speak only as of the date they are made, and AgEagle undertakes no obligation to update or revise these statements, whether as a result of new information, future events or otherwise.
AgEagle Aerial Systems Contacts
Investor Relations:
Email: UAVS@ageagle.com
Media:
Email: media@ageagle.com
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