WICHITA, Kan., April 15, 2025 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE: UAVS) ("AgEagle" or the "Company"), a leading provider of best-in-class unmanned aerial systems (UAS) and sensors for military, public safety, and commercial use, participated in the 173rd Airborne Brigade's 1st annual Innovation Symposium. During the event, the Company demonstrated its eBee VISION drone and contributed to roundtable discussions on the future of unmanned aerial systems (UAS) in military operations. "We demo ...

Core Viewpoint - AgEagle Aerial Systems Inc. (UAVS) has experienced a decline in share price despite reporting notable developments in its 2024 results, indicating investor caution [1] Revenue & Earnings Performance - For 2024, AgEagle reported total revenues of $13.4 million, a slight decline of 2.2% from $13.7 million in 2023 [2] - Gross profit improved 14.5% year over year to $6.3 million from $5.5 million [2] - Total operating expenses decreased by 57.6% year-over-year to $18.9 million from $44.6 million, primarily due to lower operating expenses and the absence of prior-year impairment charges [2] Loss from Operations - Loss from operations narrowed to $12.6 million in 2024 from $39.2 million in 2023, indicating progress in cost containment and operational efficiency [3] Key Business Metrics - AgEagle ended 2024 with $3.6 million in cash, a 350% increase from $0.8 million in the prior year, supported by a capital raise of $15.3 million [4] - The capital raised improved liquidity and facilitated a reduction in outstanding debt [4] Product Orders - The company secured significant product orders, including a 49-unit eBee drone order from the French military, a 20-drone order from UAE security forces, and an order for 60 RedEdge-P multispectral sensors for East Asia, reflecting growing demand in defense and international markets [5] Management Commentary - CEO Bill Irby described 2024 as a "defining year," highlighting record product orders and cost reductions, and emphasized the company's position for long-term growth [6] - The management expressed confidence in continued growth through deeper market penetration, particularly in commercial and defense sectors [7] Factors Influencing Results - The modest annual revenue decline was offset by an increase in gross profit, suggesting improved product margins or a favorable product mix [8] - The significant reduction in operating expenses, particularly the elimination of prior-year impairment charges, contributed to the improved operating loss figure [8] Outlook - Management's outlook remains optimistic, expecting continued expansion across core markets driven by greater adoption of drone technologies [11] - The company aims to build on its 2024 momentum by focusing on operational efficiency, innovation, and partnership growth [11] Strategic Developments - AgEagle appointed Grant Begley as chairman of the board, along with three additional board members with relevant expertise, enhancing its leadership team [12] - The company received the Green UAS Certification, affirming its compliance with cybersecurity and supply-chain standards [13] - Participation in international exhibitions and discussions with government councils highlights AgEagle's elevated profile in the industry [13] Summary - AgEagle's 2024 results indicate significant progress in financial foundation and global reach, although the path to profitability remains ongoing [14]

Financial Results Announcement - AgEagle Aerial Systems, Inc. announced its financial results for the year ended December 31, 2024, on March 31, 2025[3]. - Specific financial metrics and performance data were included in the press release, which is referenced as Exhibit 99.1[3]. - The report is filed under the Securities Exchange Act of 1934, ensuring compliance with regulatory requirements[4]. - The press release and financial results are not deemed "filed" for purposes of Section 18 of the Securities Exchange Act[4]. - The report was signed by CEO William Irby, indicating executive endorsement of the financial disclosures[9]. - The company has not indicated any use of the extended transition period for new financial accounting standards[2]. Corporate Update and Strategy - The company provided a corporate update alongside the financial results, indicating ongoing strategic initiatives[3]. - The report is part of the company's ongoing communication strategy to keep stakeholders informed about its financial condition and operational updates[3]. Listing and Compliance - The company is listed on the NYSE American under the trading symbol UAVS[2]. - The filing includes an Interactive Data File embedded within the Inline XBRL document[6].

WICHITA, Kan., March 31, 2025 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE: UAVS) ("AgEagle" or the "Company"), a leading provider of best-in-class unmanned aerial systems (UAS), sensors and software solutions for customers worldwide in the commercial and government verticals, provides a corporate update and announces its financial results for the year ended December 31, 2024. Corporate Highlights FY2024 to Date Financial Highlights FY 2024 AgEagle CEO Bill Irby commented, "2024 was a defining year ...

Company Transition and Acquisitions - AgEagle has transitioned from manufacturing fixed-wing farm drones to offering a full-stack drone solution, culminating in the acquisition of three market-leading companies in 2021[17]. - AgEagle has integrated its acquisitions into a single global company focused on enhancing autonomous flight performance[17]. - The company acquired MicaSense, Measure Global, and senseFly for a total of $90 million, enhancing its product offerings and market position[55][56][57][58]. Product Development and Innovations - The eBee line of professional drones has logged over 500,000 flight hours and more than one million successful missions over the past decade[26]. - The eBee TAC was the first drone approved for the U.S. Department of Defense's Blue UAS Cleared List, allowing immediate procurement without a waiver[26]. - The eBee X has achieved BVLOS operations permission in Brazil and has been approved for OOP and BVLOS operations in Canada[27]. - The eBee VISION, launched in December 2022, has been successfully tested by European Armed Forces and is now in commercial production[29]. - The Altum-PT sensor, launched in early 2022, offers twice the spatial resolution of its predecessor, enabling deeper analytical capabilities and broader applications in agriculture and land management[34]. - The RedEdge-P sensor, also launched in early 2022, provides three times the capture speed and twice the spatial resolution of the RedEdge-MX, enhancing data collection efficiency for agricultural and forestry applications[39]. - AgEagle's eBee X series drones are the first in their class to comply with Category 3 of the FAA's Operations of Small Uncrewed Aerial Systems Over People rules, facilitating broader commercial applications[48]. - The new RedEdge-P™ dual high-resolution drone sensor was released in May 2023, enhancing aerial imaging capabilities with a coastal blue band for vegetation analysis[190]. Financial Performance - In 2024, total revenue was $13,392,777, a decrease of approximately 2.5% from $13,741,398 in 2023[52]. - Drone segment revenue increased to $6,410,305 in 2024 from $6,197,049 in 2023, reflecting a growth of about 3.4%[52]. - Sensor segment revenue decreased to $6,663,196 in 2024 from $7,100,419 in 2023, representing a decline of approximately 6.2%[52]. - Software-as-a-Service (SaaS) revenue fell to $319,276 in 2024 from $443,930 in 2023, a decrease of about 28.1%[52]. - The company recorded a goodwill impairment charge of $2.9 million in 2024 and $15.8 million in 2023, indicating challenges in its Sensor and SaaS reporting units[205][208]. - As of December 31, 2024, the company had an accumulated deficit of approximately $218.4 million, with net losses of approximately $35.0 million and $42.4 million for the years ended December 31, 2024 and 2023, respectively[73]. - The company incurred a net loss of approximately $35.0 million during the year ended December 31, 2024, and used cash in operating activities of approximately $6.6 million[92]. Market and Industry Insights - The global military drone market is projected to grow from USD 24.25 billion in 2025 to USD 56.69 billion by 2033, with a CAGR of 11.20%[33]. - The Drone Infrastructure Inspection Grant Act proposes $100 million in grants for using domestically manufactured drones for critical infrastructure projects[32]. - The company faces competition from larger firms with greater resources, which may lead to lower contract payments and adversely affect margins[98]. - Regulatory approvals for UAS use in the U.S. are uncertain, which may limit the company's ability to expand sales to commercial customers[114]. Research and Development - The company has made significant investments in research and development to create new drone technologies, although the exact level of capital expenditures remains uncertain[53]. - The company is focused on innovation and customer needs, establishing three Centers of Excellence to drive the development of autonomous robotic solutions[42]. - The company is exploring new product developments in the field of thermal imaging and sensor technology, as evidenced by its recent patent grants and applications[68]. Intellectual Property and Patents - The company holds several registered trademarks and patents for its proprietary technologies, indicating a strong focus on intellectual property protection[65]. - The company registered multiple patents across various countries, including the US, Canada, and Australia, with application numbers such as 62/160732 and 15/154719[67]. - The company has a strong focus on expanding its patent portfolio, with multiple applications filed in various jurisdictions, including Europe and Japan[68]. Operational Challenges - The company experienced supply delays in 2023 due to high interest rates and tighter borrowing requirements, which may continue into 2025[51]. - The company may face challenges in generating sufficient revenue to achieve sustainable profitability in rapidly evolving markets[94]. - The company has a history of operating losses and expects to incur significant additional operating expenses as it continues to invest in its business strategy[73]. - The company may need to delay, curtail, or eliminate one or more of its research and development programs or commercialization efforts if it is unable to raise additional capital[75]. Funding and Capital Structure - The company raised $3,000,000 in gross proceeds from the issuance of 3,000 shares of Series F convertible preferred stock on March 10, 2023[76]. - On June 5, 2023, the company raised gross sales proceeds of $4,180,000 from the issuance of 16,720 shares of common stock and warrants to purchase up to 25,080 shares of common stock[77]. - The company is evaluating strategies to obtain additional funding for future operations and restructuring to grow revenues and reduce expenses[92]. Cybersecurity and Risk Management - The company has established a cybersecurity risk management program to protect critical systems and information[147]. - The Audit Committee oversees the implementation of the cybersecurity risk management program and receives updates at least annually[153]. - Cybersecurity risks remain significant, with potential unauthorized access to sensitive data, which could lead to reputational damage and operational disruptions[118]. Shareholder and Stock Information - The company's Common Stock is quoted on the NYSE American under the symbol "UAVS," with significant price fluctuations observed in the past two fiscal years[166]. - The highest closing price for Common Stock in Q1 2024 was $2.25 pre-split, equating to $112.40 post 50:1 reverse stock split[167]. - As of March 31, 2025, the company had approximately 285 individual shareholders of record, with a greater number of beneficial owners[167].

Core Insights - AgEagle Aerial Systems Inc. has appointed Steve Mathias as Vice President of Global Sales and Business Development and Erik de Badts as Global Head of MicaSense Sales to enhance its global sales initiatives [1][2] - The company aims to execute a strategic growth plan to expand its global footprint, leveraging the extensive experience of the new appointees in military and commercial aviation and remote sensing [2][3] Company Overview - AgEagle Aerial Systems Inc. specializes in unmanned aerial systems (UAS), sensors, and software solutions for commercial and government sectors, with a focus on energy, construction, agriculture, and government verticals [4] - Founded in 2010, AgEagle initially focused on professional-grade fixed-wing drones and has evolved to provide a full stack of UAS solutions [4] Leadership Background - Steve Mathias brings over 30 years of experience in military and aerospace, previously serving as Senior Vice President of Strategy and Growth at GKN Aerospace Defense and Vice President of Global Sales and Strategy at Bell Helicopter [2] - Erik de Badts has over 20 years of experience in remote sensing and international business development, having previously held a leadership role in camera sales for MicaSense and AgEagle [3]

Core Insights - AgEagle Aerial Systems Inc. successfully completed a four-day proof-of-concept demonstration of its eBee VISION drone with France's DGAMPA, showcasing its advanced capabilities in maritime security and environmental protection [1][2] Group 1: Demonstration Details - The demonstration involved multiple flights in various conditions, both day and night, confirming the eBee VISION's performance within a 20 km range and at temperatures as low as 5°C [2][3] - Daytime operations included monitoring fishing boats in prohibited areas and assessing their cargo, while night operations utilized thermal cameras for detecting illegal fishing activities [3][7] Group 2: Company Background - AgEagle Aerial Systems, founded in 2010, specializes in unmanned aerial systems, sensors, and software solutions across various sectors including energy, construction, agriculture, and government [5] - The company operates three centers of excellence focused on delivering high-quality flight hardware and data collection solutions [5] Group 3: Technological Capabilities - The eBee VISION demonstrated low acoustic and visual signatures, enabling discreet surveillance and reducing detection risks [7] - The drone's robust performance was highlighted by its ability to operate in coastal winds and complete persistent missions efficiently [7]

Core Insights - AgEagle Aerial Systems Inc. showcased its eBee VISION and eBee TAC systems at the Enforce Tac 2025 trade fair, emphasizing its commitment to the security and defense sectors [1][2] - The CEO highlighted the importance of connecting with industry stakeholders to enhance market presence and drive business growth [2] Company Overview - AgEagle Aerial Systems, founded in 2010, specializes in unmanned aerial systems (UAS), sensors, and software solutions for various industries, including energy, construction, agriculture, and government [5] - The company has evolved from focusing on agriculture to becoming a leading provider of full-stack UAS solutions [5] Product Highlights - The eBee VISION is designed for tactical flexibility and efficiency, capable of being operated by a single pilot in dynamic environments [3] - The eBee TAC is a cyber-secure mapping drone, recognized as the first fixed-wing drone on the Defense Innovation Unit's Blue UAS Cleared List, allowing for streamlined procurement by the U.S. Department of Defense [4]

Core Insights - AgEagle Aerial Systems Inc. has successfully fulfilled its largest sensor sale in company history, delivering 60 RedEdge-P Multispectral Sensors to an East Asian value-added reseller [1][2] - The CEO of AgEagle emphasized the importance of this achievement as a significant milestone in the company's strategic growth plan for 2025 and beyond, highlighting the commitment to reliability and execution [2] Company Overview - AgEagle Aerial Systems Inc. is a leading provider of unmanned aerial systems (UAS), sensors, and software solutions, serving commercial and government sectors globally [1][3] - Founded in 2010, the company initially focused on professional-grade fixed-wing drones and has since expanded its offerings to include full-stack UAS solutions across various industries such as energy, construction, agriculture, and government [3] Product Details - The RedEdge-P Multispectral Sensors are NDAA compliant and feature high-resolution capabilities, including a panchromatic band that provides pan-sharpened output resolutions of 2 cm (0.8 in) at 60 m (200 ft) [2] - The sensors include five narrow multispectral bands with scientific-grade filters, making them suitable for calculating multiple vegetation indices and composites [2]

Core Insights - AgEagle Aerial Systems Inc. showcased its entire product line at the XPONENTIAL Europe trade show, enhancing its leadership in the global UAS market [2] - The event featured participation from major defense contractors, including Rheinmetall, which highlighted AgEagle's eBee VISION as part of their offerings [2] - The trade show provided a platform for discussing the diverse needs of European nations in both commercial and defense sectors, with insights from representatives of NATO [2] Company Overview - AgEagle Aerial Systems Inc. is a leading provider of unmanned aerial systems, sensors, and software solutions, serving commercial and government sectors globally [5] - Founded in 2010, the company initially focused on professional-grade fixed-wing drones for agriculture and has since expanded into various industries, including energy, construction, and government [5] Industry Context - XPONENTIAL Europe combined a trade fair, live demonstrations, and a high-level conference program, attracting key players from the drone customer community, including the German Bundeswehr and the U.S. Army [2] - The event was organized by Messe Dusseldorf in partnership with AUVSI, marking a significant gathering for the UAS industry [2]