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AgEagle Aerial Systems, Inc. (UAVS)

NYSE American - NYSE American Delayed Price. Currency in USD
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2.6900-0.0300 (-1.10%)
At close: 4:00PM EDT

2.6900 0.00 (0.00%)
After hours: 4:31PM EDT

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Neutralpattern detected
Previous Close2.7200
Open2.6500
Bid2.6700 x 3000
Ask2.7100 x 3200
Day's Range2.5850 - 2.7100
52 Week Range0.1900 - 5.1500
Volume1,718,228
Avg. Volume9,732,674
Market Cap153.954M
Beta (5Y Monthly)5.56
PE Ratio (TTM)N/A
EPS (TTM)N/A
Earnings DateN/A
Forward Dividend & YieldN/A (N/A)
Ex-Dividend DateN/A
1y Target EstN/A
  • ACCESSWIRE

    AgEagle Aerial Systems to Present at the 9th Annual Gateway Conference on September 9, 2020

    NEODESHA, KS / ACCESSWIRE / September 3, 2020 / AgEagle Aerial Systems Inc.

  • GlobeNewswire

    AgEagle Aerial Systems Appoints Aerospace Industry Veteran Matt Martin as New Vice President of Operations

    Led Spirt AeroSystems’ Airbus Programs, Hawker Beechcraft’s JPATS Program and  Held Senior Leadership Roles on Key Boeing Development ProgramsNEODESHA, Kan., Sept. 01, 2020 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE American: UAVS) (the “Company”), an industry leading provider of advanced UAVs and aerial imagery, data collection and analytics solutions, today announced the appointment of aerospace industry veteran Matt Martin as new Vice President of Operations, effective immediately. Reporting directly to the Company’s CEO J. Michael Drozd, Martin will oversee all aspects of AgEagle’s fully integrated drone and subcomponent manufacturing, assembly, design, engineering and testing operations to be based in AgEagle’s newly leased facility in Wichita, Kansas.Martin stated, “I am very pleased to contribute my extensive aerospace industry expertise to such a dynamic team focused solely on  leading  the high-growth commercial drone industry. Since 2010, AgEagle has pioneered early advancements in the field of commercial UAVs.This positions the Company well to drive global adoption of drones in a broad range of industries and define entirely new standards of excellence for drone production and their applications. I am looking forward to playing a meaningful role in AgEagle’s future success.”Martin brings to AgEagle over 30+ years of manufacturing experience in the aerospace industry, with emphasis on program engineering leadership and concentration on commercial and military aircraft, large scale system integration and quality systems controls, and compliance with complex regulatory requirements. Prior to joining AgEagle, Martin served as Vice President of Airbus Programs at Spirit AeroSystems, where he orchestrated the vision of Airbus Programs worldwide. He was originally recruited to Spirit Aerosystems in 2013 as Director of Product Design Engineering before being promoted to Program Director of the A350-900 Section 15 program. In this capacity, he was a key leader in the program’s final certification, entry into service and successful turnarounds in delivery, quality and financial performance.Prior to Spirit AeroSystems, Martin served as Vice President at Hawker Beechcraft Defense Company, where he spearheaded the execution of the Joint Primary Aircraft Training Systems contract for the U.S. Air Force and U.S. Navy with an overall value of approximately $1+ billion. Earlier in his career, Martin rose through the ranks at Boeing, holding senior leadership roles on key programs, including the International Space Station Program, 767 Tanker/Transport Program and the Air Force One Maintenance, Modifications and Upgrades Program.Martin is the proud recipient of the Silver Snoopy, a prestigious award bestowed by NASA on individuals who have significantly contributed to the human space flight program to ensure flight safety and mission success. Fewer than one percent of the Aerospace program workforce receive it annually, making it a special honor.   Martin graduated from Wichita State University, where he earned a Bachelor of Engineering Science in Mechanical Engineering,Commenting on the appointment, Drozd noted, “Our leadership team unanimously agreed that Matt is  the ideal person to lead our commercial drone manufacturing operations. In addition to his proven senior leadership experience and deep engineering and manufacturing expertise, Matt clearly shares our belief in the transformational potential that commercial drones represent in many industries.  Moreover, in view of AgEagle’s commitment to scaling our drone manufacturing operations with attention to the highest possible quality standards, there is no doubt that he will contribute measurably to our Company’s growth and long-term value creation. We are excited to welcome him to the AgEagle family.”About AgEagle Aerial Systems Inc. Founded in 2010 and based in Kansas, AgEagle has earned distinction as one of the industry’s leading pioneers of technologically advanced drones and aerial imagery-based data collection and analytics solutions. We are trusted to help the world’s growers, consumer packaged goods companies and their supply chain partners proactively assess and manage the health of commercial crops, reduce the chemicals in produced foods and products and preserve and protect natural resources. In addition, we are at the leading edge of providing state and territorial departments of agriculture, growers and processors with registration, oversight, compliance/enforcement, and reporting solutions relating to the United States’ emerging hemp cultivation industry. In late 2019, we began pursuing expansion opportunities within the emerging Drone Logistics and Transportation market with the manufacture and assembly of UAVs designed to meet specifications for drones that are meant to carry packaged goods in urban and suburban areas. For more information, please visit www.ageagle.com.  Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.Contacts: Investor Relations Gateway Investor Relations Sean Mansouri or Cody Cree Phone: 949-574-3860 Email: UAVS@gatewayIR.comPress/Media Contact Primo PR Tara Coomans or Laura Nystrom Phone: 424-278-9199 Email: media@ageagle.com

  • GlobeNewswire

    AgEagle Aerial Systems Reports Second Quarter 2020 Results

    NEODESHA, Kan., Aug. 17, 2020 (GLOBE NEWSWIRE) -- AgEagle Aerial Systems Inc. (NYSE American: UAVS) (“AgEagle or the “Company”), an industry leading provider of UAVs and advanced aerial imagery, data collection and analytics solutions, today announced its second quarter financial results for the three and six months ended June 30, 2020. Key Financial Highlights * Revenue increased 516% to $408,000 from $66,000 for the six-month comparable periods in 2020 and 2019. For the three months ended June 30, 2020, revenue was $16,000 compared to $20,000 for the same three months in the prior year. This decline was primarily due to the impact of COVID-19 on AgEagle’s supply chain, resulting in the delivery delay of certain parts needed for the manufacturing and assembly of drones and related drone package delivery equipment. Approximately $770,000 in revenue, originally expected to be realized in the second quarter, will now be booked in the third quarter.   * Gross profit margin on sales for the six-month period ended June 30, 2020 increased significantly to 54% from 20% for the comparable period in 2019. Likewise, gross profit margin on sales also improved for the comparable three-month periods ended June 30, 2020 and 2019, rising to 8% from 5%, respectively.   * The Company’s net loss for the six months ended June 30, 2020 totaled $1.7 million compared to a net loss of $1.3 million reported for the comparable six months in 2019. For the three months ended June 30, 2020, net loss was $1.3 million compared to a net loss of $739,000 for the same three months in 2019. Overall, the increases in net losses were due to higher operating costs associated to the shifts in our long-term growth strategies.    * The net loss available to common stockholders for the current six month reporting period was $10.8 million, or $0.44 loss per share, as a result of non-cash accounting charges relating to our financing activities. This compared to $1.4 million, or $0.10 loss per share, for the comparable six  months in 2019.  For the same reason, net loss totaled $10.3 million, or $0.31 loss per share, compared to $780,000, or $0.05 loss per share, for the three-month periods in 2020 and 2019, respectively.   * As of June 30, 2020, the Company’s balance sheet reflected cash of $12.9 million compared to $718,000 as of December 31, 2019. The Company had no long term debt and total stockholders’ equity increased to $16.0 million compared to $4.3 million as of June 30, 2020 and December 31, 2019, respectively. The material strengthening of the balance sheet was largely due to the successful closing of equity financings completed in the first half of 2020.              Michael Drozd, Chief Executive Officer of AgEagle, stated, “Since joining AgEagle in mid-May, I have been routinely impressed by my team’s commitment and dedication to AgEagle’s purposeful shift in our long-term business strategy. We are well positioned to weather the effects of the global pandemic and its direct impact on our second quarter revenue recognition.  Moreover, we remain focused on the many opportunities for future expansion, buoyed by our strong cash position which has increased to over $25 million due the recent equity financing we recently announced.  We expect 2020 be be a record year for AgEagle’s revenue growth and position us to accomplish several key strategic objectives going forward.”To review the Company’s detailed financial results for the three and six months ended June 30, 2020, please refer to our Form 10-Q filed with the U.S. Securities and Exchange Commission and accessible at www.sec.gov. Corporate Update WebcastThe Company’s management  will host a webcast on Tuesday, August 18, beginning at 11:00 AM Eastern time to provide a corporate update and discuss recent operational highlights. The webcast will be broadcast live and available for replay via the link: https://www.webcaster4.com/Webcast/Page/2160/36280. If you encounter any difficulty connecting to the webcast, please contact Gateway Investor Relations at 949-574-3860.About AgEagle Aerial Systems Inc. Founded in 2010 and based in Kansas, AgEagle has earned distinction as one of the industry’s leading pioneers of technologically advanced drones  and aerial imagery-based data collection and analytics solutions. We are trusted to help the world’s growers, consumer packaged goods companies, and their supply chain partners to proactively assess and manage the health of commercial crops, reduce the chemicals in produced foods and products and preserve and protect natural resources. In addition, we are at the leading edge of providing state and territorial departments of agriculture, growers and processors with registration, oversight, compliance/enforcement, and reporting solutions relating to the United States’ emerging hemp cultivation industry. In late 2019, we began pursuing expansion opportunities within the emerging Drone Logistics and Transportation market with the manufacture and assembly of UAVs designed to meet specifications for drones that are meant to carry packaged goods in urban and suburban areas. For more information, please visit www.ageagle.com.Forward-Looking Statements This press release may contain “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Such statements involve risks and uncertainties that could negatively affect our business, operating results, financial condition and stock price. Factors that could cause actual results to differ materially from management’s current expectations include those risks and uncertainties relating to our competitive position, the industry environment, potential growth opportunities, and the effects of regulation and events outside of our control, such as natural disasters, wars or health epidemics. We expressly disclaim any obligation or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in our expectations or any changes in events, conditions or circumstances on which any such statement is based, except as required by law.Contacts: Investor Relations Gateway Investor Relations Sean Mansouri or Cody Cree Phone: 949-574-3860 Email: UAVS@gatewayIR.comPress/Media Contact Primo PR Tara Coomans or Laura Nystrom Phone: 424-278-9199 Email: media@ageagle.com