AgEagle Aerial Systems Inc. is a provider of unmanned aerial systems (UAS), sensors, and software solutions for commercial and government applications. Headquartered in Wichita, Kansas, the company designs and manufactures fixed-wing drones, such as the eBee series, and multispectral sensors used in defense, public safety, agriculture, and infrastructure. AgEagle is notable for its eBee TAC drone, which was the first fixed-wing UAV added to the U.S. Department of Defense's Blue UAS list.
Financial Statements
In thousands, USD
FY 2025
FY 2024
FY 2023
FY 2022
Total Revenues
12,811
13,393
13,741
19,094
Cost of Sales
6,171
7,104
8,278
10,876
Gross Profit
6,640
6,289
5,463
8,218
Selling, General & Administrative Expenses
11,965
12,011
17,334
22,693
Research & Development Expenses
3,612
3,970
5,524
8,114
Other Operating Expenses
5,793
2,943
21,755
41,688
Operating Profit
(14,731)
(12,635)
(39,150)
(64,277)
Interest Expense
(10)
(8,388)
(949)
(60)
Non-Operating Income
9,461
(14,019)
(2,323)
6,083
Total Non-Operating Income
9,451
(22,406)
(3,272)
6,023
Income Before Provision for Income Taxes
(5,280)
(35,042)
(42,422)
(58,254)
Consolidated Net Income
(5,280)
(35,042)
(42,422)
(58,254)
Net Income Attributable to Preferred Dividends
7,776
17,991
11,948
2,418
Net Income Attributable to Common Shareholders
(13,055)
(53,033)
(54,369)
(60,672)
Basic EPS
-0.52
-46.24
-514.90
-698.50
Diluted EPS
-0.52
-46.24
-514.90
-698.50
Basic Weighted Average Shares Outstanding
25,053
1,147
106
83
Diluted Weighted Average Shares Outstanding
25,053
1,147
106
83
Shares Outstanding
43,614
9,662
7,026
88
FY 2025
FY 2024
FY 2023
FY 2022
Cash and Cash Equivalents
29,859
3,614
819
4,350
Total Cash and Cash Equivalents
29,859
3,614
819
4,350
Accounts Receivable
3,449
1,432
2,058
2,213
Other Receivables
—
—
185
185
Total Trade Receivables
3,449
1,432
2,243
2,398
Inventories
5,662
5,476
6,937
6,686
Other Current Assets
557
425
549
1,030
Total Current Assets
39,527
10,948
10,547
14,463
Net Property, Plant & Equipment
2,201
2,967
4,325
4,743
Net Intangible Assets
57
1,956
2,615
11,508
Goodwill
—
4,460
7,403
23,179
Other Long-Term Assets
444
251
266
291
Total Assets
42,229
20,582
25,156
54,185
Accounts Payable
1,610
2,786
3,063
1,845
Accrued Expenses
2,301
2,361
1,944
1,681
Short-Term Debt
—
1,433
4,504
287
Current Portion of Long-Term Debt
105
237
392
446
Current Portion of Leases
850
921
902
628
Unearned Revenue
128
148
226
496
Total Current Liabilities
4,993
7,887
11,031
5,384
Long-Term Debt
210
274
489
2,308
Leases
1,025
1,647
2,722
3,162
Other Long-Term Liabilities
265
16,515
216
106
Total Long-Term Liabilities
1,499
18,437
3,427
5,576
Total Liabilities
6,493
26,324
14,458
10,960
Preferred Stock
0
0
0
0
Common Stock
44
10
0
88
Additional Paid-in Capital
266,737
212,716
176,174
154,679
Accumulated Other Comprehensive Income
191
(86)
106
10
Retained Earnings
(231,235)
(218,381)
(165,583)
(111,553)
Total Common Shareholders' Equity
35,737
(5,742)
10,698
43,224
Total Shareholders' Equity
35,737
(5,742)
10,698
43,224
Total Liabilities and Shareholders' Equity
42,229
20,582
25,156
54,185
FY 2025
FY 2024
FY 2023
FY 2022
Net Income
(5,280)
(35,042)
(42,422)
(58,254)
Depreciation & Amortization
810
1,076
3,812
3,939
Share-Based Compensation Expense
418
81
1,305
3,421
Other Adjustments
(2,712)
25,258
24,395
35,081
Changes in Trade Receivables
(1,835)
593
223
637
Changes in Inventories
(161)
1,248
53
(2,605)
Changes in Accounts Payable
(1,327)
(281)
1,106
(682)
Changes in Accrued Expenses
(46)
185
44
(717)
Changes in Unearned Revenue
(112)
(74)
(281)
(473)
Changes in Other Operating Activities
287
385
807
(110)
Cash from Operating Activities
(9,959)
(6,572)
(10,956)
(19,762)
Capital Expenditure
(75)
(49)
(215)
(314)
Proceeds from Sale of Property, Plant & Equipment
—
28
—
—
Purchases of Intangible Assets
—
(72)
(562)
(1,435)
Payments for Business Acquisitions
—
—
—
(6,611)
Cash from Investing Activities
(75)
(94)
(777)
(8,360)
Issuance of Short-Term Debt
—
—
—
3,285
Repayments of Short-Term Debt
(393)
(1,336)
(92)
(345)
Net Issuance / (Repayments) of Short-Term Debt
(393)
(1,336)
(92)
2,940
Repayments of Long-Term Debt
—
(4,236)
—
—
Net Issuance / (Repayments) of Long-Term Debt
—
(4,236)
—
—
Issuance of Common Shares
12,541
10,456
3,967
4,658
Net Issuance / (Repurchases) of Common Shares
12,541
10,456
3,967
4,658
Issuance of Preferred Shares
24,307
4,775
4,675
9,920
Net Issuance / (Repurchases) of Preferred Shares
24,307
4,775
4,675
9,920
Other Financing Activities
(251)
(615)
—
—
Cash from Financing Activities
36,205
9,542
8,551
17,517
Effect of Exchange Rate Changes on Cash and Cash Equivalents
73
(80)
(348)
364
Increase / (Decrease) in Cash, Cash Equivalents and Restricted Cash