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AgEagle Aerial Systems, Inc. (symbol: UAVS), based in Kansas, is a renowned provider of cutting-edge unmanned aerial vehicle (UAV) data acquisition drones designed for precision agriculture. As a leading FAA 333 exempt entity, AgEagle’s technology significantly enhances the way farmers monitor and manage crop health.
AgEagle’s drones are engineered to swiftly capture and stitch multi-spectral images of crop fields, enabling growers to identify stress factors such as disease, pests, and improper irrigation days before they become visible to the naked eye. This early detection allows farmers to efficiently utilize their equipment, reduce input costs, increase crop yields, and mitigate environmental impact.
The company is actively involved in designing and delivering top-tier drones, sensors, and software solutions that address critical issues for its customers. AgEagle operates through three primary segments: Drones, Sensors, and Software-as-a-Service (SaaS). The majority of its revenue comes from the commercial sale of drones and related products.
AgEagle's technology is not only instrumental in agriculture but is also expanding into other sectors. The company's recent achievements and ongoing projects reflect its commitment to innovation and customer satisfaction. As they continue to develop sophisticated UAV systems, AgEagle aims to maintain its leadership in the industry and expand its market reach.
For the latest updates and detailed information about AgEagle Aerial Systems, Inc., shareholders and interested parties can contact Investor Relations at UAVS@ageagle.com or Media Relations at media@ageagle.com.
AgEagle Aerial Systems (NYSE American: UAVS) announced it will fulfill over $2 million in backlogged orders for its MicaSense Altum-PT, RedEdge-P, and RedEdge-MX sensors in Q3 2022. The company attributes this progress to enhanced supply chain management amid increasing global demand for advanced sensor technology across agriculture and land management sectors. CEO Barrett Mooney highlighted successful efforts to overcome supply chain bottlenecks, ensuring timely order fulfillment moving forward. AgEagle continues to develop cutting-edge solutions to meet market needs.
AgEagle Aerial Systems Inc. (NYSE American: UAVS) has entered into a securities purchase agreement with an existing shareholder for the purchase of 10,000 shares of Series F 5% Convertible Preferred Stock and warrants to acquire up to 10,416,667 common shares. This offering is expected to generate gross proceeds of approximately $10 million. The net proceeds, around $9.92 million after expenses, will be allocated for working capital and capital expenditures. The offering closes on or about June 29, 2022. The Investor holds an option for additional investments totaling $25 million over 18 months.
AgEagle Aerial Systems (NYSE American: UAVS) has received a Design Verification Report from the European Union Aviation Safety Agency (EASA) for its eBee X drone, confirming its compliance with Ground Risk Class M2 standards. This approval allows drone operators in 27 European countries, including Iceland and Switzerland, to seek SORA authorization for Beyond Visual Line of Sight (BVLOS) flights and Operations Over People (OOP). The eBee X is the first drone to achieve this designation, paving the way for increased commercial drone operations across various industries.
AgEagle Aerial Systems (NYSE American: UAVS) reported a 126% revenue increase in Q1 2022, reaching $3.84 million, compared to $1.70 million in Q1 2021. This growth was attributed to eBee drone sales and software subscriptions, despite lower sensor product revenues due to supply chain issues. The gross profit margin fell to 36% from 63%, and the net loss widened to $7.58 million from $2.93 million. Cash position stood at $9.19 million. The company remains optimistic about achieving record growth in 2022 despite ongoing challenges.
AgEagle Aerial Systems (NYSE American: UAVS) announced enhancements to its Measure Ground Control software, enhancing drone operations for enterprise users. The platform, offered as Software-as-a-Service, automates flight management, data processing, and analysis, promoting efficiency across industries. Key features include mission planning, flight execution, data capture, and collaborative tools. The software integrates with various drone models and supports third-party applications, aiming to streamline drone program management for clients in energy, agriculture, and construction.
AgEagle Aerial Systems (NYSE: UAVS) will exhibit at the MundoGEO Connect 2022 conference from May 17-19, 2022, at the Frei Caneca Convention Center in Sao Paulo, Brazil. Representatives from AgEagle's subsidiaries, MicaSense and senseFly, will showcase advanced drone systems and sensors, including the Altum-PT, RedEdge-P, and eBee-X. This event brings together leaders in drone technology and geomatics, targeting industries such as agriculture, defense, and environmental management.
AgEagle Aerial Systems (NYSE American: UAVS) announces increased demand for its eBee TAC™ drones, now being shipped to U.S. and NATO forces. Recognized for its compliance with the NDAA, the eBee TAC has been showcased at various industry events, highlighting its tactical mapping capabilities. Currently, 133 units are in service, with more expected soon, indicating accelerating government sales. AgEagle aims for a transformative 2022, focusing on converting leads into customers while investing in innovation to cater to a growing global clientele.
AgEagle Aerial Systems (NYSE American: UAVS) will exhibit at AUVSI XPONENTIAL 2022 in Orlando from April 25-28, showcasing its high-performance drones, sensors, and software solutions at booth #2001. This event, hosted by the Association for Uncrewed Vehicle Systems International, is a significant gathering for the unmanned systems industry, bringing together leaders to inspire innovation and collaboration. AgEagle, a pioneer in UAV solutions, serves clients in over 70 countries, including U.S. military and government agencies. For more details, visit www.ageagle.com.
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