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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 a significant contract with the U.S. Department of Defense's Defense Innovation Unit to produce eBee™ VISION drones alongside specialized command software compliant with the RAS-A IOP standard. This contract positions AgEagle as a leading provider among a select group of BlueUAS-approved manufacturers, which will enable the integration of advanced unmanned aerial systems into DoD operations. The eBee VISION offers enhanced features such as 32x zoom and thermal observation capabilities, with a flight duration of up to 90 minutes. CEO Barrett Mooney emphasized the importance of this contract in providing cutting-edge drone solutions to the military, highlighting AgEagle's commitment to innovation in the drone sector.
AgEagle Aerial Systems (NYSE American: UAVS) announced the awarding of a Multiple Award Schedule (MAS) Contract by the General Services Administration (GSA), enhancing its capacity to sell unmanned aerial systems (UAS) to federal agencies. This contract represents a significant milestone aimed at deepening AgEagle's penetration in the government sector. With the recruitment of a new Director of Government Sales, the company plans to accelerate direct sales to government buyers. The GSA MAS Contract is awarded after a rigorous vetting process, ensuring contractors demonstrate their products and services effectively. AgEagle aims to provide innovative UAS solutions for various applications, including aerial mapping and disaster relief.
AgEagle Aerial Systems (NYSE American: UAVS) announced a 96% increase in total revenues for the full year ended December 31, 2022, reaching $19.1 million compared to $9.8 million in 2021. Sales of its eBee-branded drones surged 305% to $9.8 million, while sensor sales rose 27% to $8.7 million. However, the company reported a net loss of $58.3 million, primarily due to a $42 million non-cash goodwill impairment charge. Cash on hand decreased to $4.4 million from $14.6 million in the previous year. Looking ahead, the company anticipates continued sales growth and margin expansion in 2023.
AgEagle Aerial Systems (NYSE American: UAVS) has launched Field Check as part of its Measure Ground Control mobile app. This new feature enhances users' ability to validate drone-captured imagery on-site, reducing time and cost associated with project reworks. The software is available on both iOS and Android platforms, providing comprehensive drone program management solutions. Additionally, AgEagle introduced new subscription pricing tiers, offering options for individuals, small businesses, and enterprises. CEO Barrett Mooney highlighted the competitive advantage Field Check brings to customers by minimizing project delays.
AgEagle Aerial Systems (NYSE American: UAVS) announced the delivery of its eBee VISION drones to three branches of European military forces. This fixed-wing drone can capture live 4K-resolution video from up to 12 miles away, featuring a 32x zoom and thermal capabilities. With a flight time of up to 90 minutes and quick deployment, it enhances tactical Intelligence, Surveillance, and Reconnaissance (ISR) operations. AgEagle's goal is to achieve commercial production by mid-2023. Positive feedback from early adopters suggests the eBee VISION could revolutionize tactical ISR missions and various public safety applications.
AgEagle Aerial Systems Inc. (NYSE American:UAVS) will host a webcast on April 4, 2023, at 4:30 p.m. Eastern Time to discuss operational developments and financial results for the year ended December 31, 2022. CEO Barrett Mooney and CFO Nicole Fernandez-McGovern will lead the update. Investors can submit questions via email to UAVS@gatewayir.com by March 31, 2023. The webcast will be accessible live and for replay at this link. AgEagle specializes in full stack drone solutions across multiple sectors, including energy, construction, and agriculture.
AgEagle Aerial Systems (NYSE American: UAVS) recently announced a significant contract win by FEDS, a drone services leader in the Middle East, for multiple eBee-X drones and sensors for environmental mapping in Saudi Arabia. This deal aims to enhance workforce efficiency and operational cost management. Additionally, AgEagle's drones were featured in Oman to combat desert locusts affecting agriculture, highlighting their growing adoption in the region for various applications, including search and rescue efforts following recent earthquakes. The eBee systems have collectively completed over 500,000 flight hours globally.
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