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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 its participation in Commercial UAV Expo 2022 in Las Vegas from September 6-8, 2022. CEO Barrett Mooney will speak during the panel discussion titled Drone Visionaries: Getting Drones to Work Today on September 7 from 4:30 PM to 5:30 PM PT. AgEagle will exhibit in Booth #709, providing product demonstrations and media interviews. The event will feature over 200 exhibitors and attract more than 2,500 attendees, showcasing advancements in commercial unmanned aerial systems across various industries.
AgEagle Aerial Systems (UAVS) reported significant revenue growth in Q2 2022, with a 173% increase in quarterly revenues to $5.29 million from $1.94 million, and a 151% rise in six-month revenues to $9.13 million compared to $3.64 million in 2021. The growth was driven by the senseFly acquisition and strong sales of new multispectral sensors, although software subscription revenues declined. Loss from operations increased to $5.39 million due to supply chain challenges and higher costs. The company holds $13.51 million in cash as of June 30, 2022.
AgEagle Aerial Systems (NYSE American: UAVS) will host a webcast on August 16, 2022, at 4:30 p.m. Eastern time to discuss recent operational updates and financial results for the second quarter ending June 30, 2022. CEO Barrett Mooney and CFO Nicole Fernandez-McGovern will lead the discussion, addressing investor questions submitted by August 12, 2022. The webcast can be accessed live or via replay at this link. AgEagle specializes in drone solutions for multiple sectors including energy and agriculture.
AgEagle Aerial Systems Inc. (NYSE American: UAVS) announced the full satisfaction of its payment obligations related to the 2021 acquisitions of MicaSense and senseFly, following waiver agreements. This settlement, which included cash payments of approximately $3.65 million, reduced the total debt by more than $7.35 million. CEO Barrett Mooney expressed gratitude to institutional shareholders for their support, emphasizing the strategic importance of this move in strengthening the balance sheet for future growth opportunities.
AgEagle Aerial Systems (NYSE:UAVS) announced that the Brazilian National Civil Aviation Agency has approved BVLOS flights for its eBee Geo and eBee Ag fixed-wing drones. This clearance complements the drone's existing approvals in the U.S. and Europe. The eBee series represents 41% of all commercial fixed-wing drone registrations in the U.S. since 2016, affirming its market leadership. CEO Barrett Mooney emphasized the company's commitment to safety and performance, anticipating further growth as drone regulations evolve globally.
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.
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