Ageagle Aerial Stock Price, News & Analysis

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.