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AgEagle Aerial Systems, doing business as EagleNXT, reports developments in drones, sensors and software for commercial, government and defense customers. Company news centers on eBee-series unmanned aircraft systems, including the eBee VISION fixed-wing ISR platform and eBee TAC tactical mapping drones, as well as Blue UAS and NDAA-compliant product positioning.
Recurring updates include U.S. Army and allied defense orders, public safety and training applications, sensor and software capabilities, strategic investments in autonomous and counter-drone technologies, financial results, working-capital actions and corporate operating updates.
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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.
AgEagle Aerial Systems (NYSE American: UAVS) has announced key appointments in its executive leadership team.
Michael O’Sullivan has been named Chief Commercial Officer, expanding his role from Managing Director of AgEagle’s Lausanne operations. Edouard Rosset has been promoted to Executive Vice President of Technology, previously serving as Chief Technology Officer at senseFly.
These changes aim to optimize management structure and drive growth in AgEagle's global operations.
AgEagle Aerial Systems (NYSE American: UAVS) reported a significant 659% increase in total revenues for the year ended December 31, 2021, reaching $9.76 million compared to $1.29 million in 2020, primarily due to strategic acquisitions. Gross profit margin slightly decreased to 44% from 45%. However, the net loss widened to $30.18 million, or $0.43 per share, versus a $14.04 million loss the previous year. Cash reserves decreased to $14.59 million from $23.94 million. The company also highlighted operational achievements, including the launch of new sensor technologies and successful acquisitions.
AgEagle Aerial Systems (NYSE: UAVS) will host a webcast on April 12, 2022, at 4:30 p.m. ET, to discuss its operational developments and financial results for Q4 and full year 2021. CEO Barrett Mooney and CFO Nicole Fernandez-McGovern will lead the update. Investors can submit questions via email until April 8, 2022. Additionally, AgEagle plans to file a Form 12b-25 with the SEC for a 15-day extension to submit its Annual Report due to delays in audit completion related to recent acquisitions.
AgEagle Aerial Systems (NYSE American: UAVS) announced that its subsidiary, senseFly, has been approved as a Blue UAS supplier, allowing the eBee TAC drone to be procured by the U.S. Department of Defense. The eBee TAC completed rigorous evaluations and is now listed as a compliant system, providing capabilities for military mapping and situational awareness. With its lightweight design and advanced features, it has become the best-selling commercial fixed-wing drone in the U.S. for three years.
AgEagle Aerial Systems (NYSE American: UAVS) announced a letter from Chairman and new CEO Barrett Mooney, addressing shareholders about the company's operations and growth strategies. Mooney emphasized a commitment to innovation, integrity, and customer focus. He highlighted successful acquisitions, a strong workforce of engineers and data scientists, and plans for organic growth in 2022 through sales optimization and government sector expansion. Mooney aims to become cash flow positive while enhancing corporate trust and operational effectiveness.
AgEagle Aerial Systems (NYSE American: UAVS) has showcased its eBee TAC Unmanned Aerial System at Tough Stump Technologies’ Tech Demo Day in North Carolina. The eBee TAC, developed by AgEagle’s subsidiary senseFly, is integral to the ARTEMIS system, enhancing military situational awareness with high-resolution imagery. This tactical drone boasts a 17.2-mile range and a 90-minute flight time, targeting military operations and emergency responses. CEO Barrett Mooney emphasizes its role in supporting U.S. military forces and allied partners amid rising geopolitical tensions.
AgEagle Aerial Systems has announced the reappointment of Barrett Mooney as CEO, succeeding Brandon Torres Declet, who resigned. Mooney previously led the company from July 2018 to June 2020, driving its expansion into drone package delivery and data analytics for various sectors. He aims to refocus the company on robotics, automation, and manufacturing while improving its market valuation after a challenging year. Mooney emphasizes innovation and customer satisfaction as key drivers for future growth.
AgEagle Aerial Systems (NYSE American: UAVS) reported significant financial growth for the three and nine months ended September 30, 2021. Revenues surged 169% year-over-year to approximately $2.02 million, while nine-month revenues climbed 389% to $5.66 million, driven by strong demand for sensor and software solutions. However, the company reported a net loss of $3.77 million for Q3 and a total loss of $11.38 million for the nine months. Cash reserves increased to $32.2 million.