Cash provided by AgEagle's equity financing activities totaled $17.9 million in 2022 compared to $45.6 million raised in 2021.įor more detailed information on AgEagle's 2022 financial results, please refer to the Company's Annual Report on Form 10-K, which will soon be filed with the U.S. Cash on hand as of Decemwas $4.4 million compared to $14.6 million as of the end of 2021.This was partially offset by a $6.5 million non-cash gain on debt extinguishment associated with reductions of holdback liabilities realized in the third quarter of 2022 in connection with the Company's acquisitions of senseFly and MicaSense in the prior year. In addition, the 2022 net loss was impacted by greater operating and transactional costs as a result of the acquisitions completed during the 2021 fiscal year. Net loss totaled $58.3 million compared to $30.1 million after factoring a $42 million non-cash goodwill impairment charge in 2022 associated with the Company's SaaS and drone reporting units and a $12 million non-cash impairment charge in 2021 relating to its SaaS reporting unit.Gross profit margin remained stable at 43% compared to 44%.Software-as-a-Services ("SaaS") sales also improved, increasing 11% to approximately $600,000 from approximately $538,000.Strong demand for the Company's Altum-PT ™ and RedEdge-P ™ multispectral cameras drove sensor sales up 27% to $8.7 million from $6.8 million.Sales of the Company's proprietary line of eBee ™-branded fixed wing drones and related equipment increased 305% to $9.8 million from $2.4 million.Total revenues nearly doubled, rising 96% to $19.1 million from $9.8 million.(NYSE American:UAVS) ("AgEagle" or the "Company"), an industry-leading provider of full stack flight hardware, sensors, and software for commercial and government use, today announced its financial results for the full year ended December 31, 2022.įinancial Highlights for the Twelve Months Ended DecemCompared to Prior Year WICHITA, KS / ACCESSWIRE / Ap/ AgEagle Aerial Systems Inc. Company's Leadership to Host Corporate Update Via Live Audio
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