AgEagle Aerial Posts Narrower Y/Y Loss in Q3, Mixed Performance

Zacks11-26

Shares of AgEagle Aerial Systems, Inc. UAVS have declined 10.3% since reporting third-quarter 2024 earnings. This compares unfavorably with the S&P 500 index’s 1.2% rise over the same period. However,...

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However,...</p>\n\n<a href=\"https://finance.yahoo.com/news/ageagle-aerial-posts-narrower-y-174600323.html\">Source Link</a>\n\n</div>\n","source":"yahoofinance","html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>AgEagle Aerial Posts Narrower Y/Y Loss in Q3, Mixed Performance</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 11px; color: #7E829C; margin: 0;line-height: 11px;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nAgEagle Aerial Posts Narrower Y/Y Loss in Q3, Mixed Performance\n</h2>\n\n<h4 class=\"meta\">\n\n\n2024-11-26 01:46 GMT+8&nbsp;&nbsp;&nbsp;<a href=https://finance.yahoo.com/news/ageagle-aerial-posts-narrower-y-174600323.html><strong>Zacks</strong></a>\n\n\n</h4>\n\n</header>\n<article>\n<div>\n<p>Shares of AgEagle Aerial Systems, Inc. UAVS have declined 10.3% since reporting third-quarter 2024 earnings. This compares unfavorably with the S&P 500 index’s 1.2% rise over the same period. However,...</p>\n\n<a href=\"https://finance.yahoo.com/news/ageagle-aerial-posts-narrower-y-174600323.html\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"UAVS","symbol_name":"AgEagle Aerial Systems, Inc.","start_time":0,"source_url":"https://finance.yahoo.com/news/ageagle-aerial-posts-narrower-y-174600323.html","article_id":"2486054805","we_media_id":null,"thumbnails":["https://s.yimg.com/uu/api/res/1.2/ShfhwtDyA2WzDBKdAL7M8Q--~B/aD00MDA7dz02MzU7YXBwaWQ9eXRhY2h5b24-/https://media.zenfs.com/en/zacks.com/6f2cab89bf2cbad1966358e04258e202"],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=2486054805","pubTimestamp":1732556760,"columns":[],"sourceInfo":{"source_id":"yahoofinance","name":"雅虎金融"},"weMediaInfo":null,"summary":"Shares of AgEagle Aerial Systems, Inc. UAVS have declined 10.3% since reporting third-quarter 2024 earnings. This compares unfavorably with the S&P 500 index’s 1.2% rise over the same period. However, AgEagle Aerialshares have gained 55.1% over the past month versus the S&P 500’s 3.1% growth.For the third quarter of 2024, AgEagle Aerial reported a net loss per common share of $16.03, narrower than a net loss of $72.64 in the same quarter of 2023.AgEagleAerial’s revenues for the third quarter of 2024 were $3.28 million, a decline of 5.7% from $3.48 million in the same period of 2023. This was led by a year-over-year revenue reduction from its sensor business, offset partially by growth in its drone segment.AGEAGLE AERIAL SYSTEMS, INC. Price, Consensus and EPS Surprise. AGEAGLE AERIAL SYSTEMS, INC. price-consensus-eps-surprise-chart | AGEAGLE AERIAL SYSTEMS, INC. Quote. AgEagle Aerial emphasized its ongoing efforts to streamline operations and reduce expenses while focusing on innovation","collect":0,"end_time":0,"defaultTopTitle":"yahoo.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"UAVS":"AgEagle Aerial Systems, Inc.","BK4152":"农用农业机械"},"translate_title":"AgEagle Aerial第三季度同比亏损收窄，表现好坏参半","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"UAVS":0.9},"content_text":"Shares of AgEagle Aerial Systems, Inc. UAVS have declined 10.3% since reporting third-quarter 2024 earnings. This compares unfavorably with the S&P 500 index’s 1.2% rise over the same period. However, AgEagle Aerialshares have gained 55.1% over the past month versus the S&P 500’s 3.1% growth.\nFinancial Performance Overview\nFor the third quarter of 2024, AgEagle Aerial reported a net loss per common share of $16.03, narrower than a net loss of $72.64 in the same quarter of 2023.\nAgEagleAerial’s revenues for the third quarter of 2024 were $3.28 million, a decline of 5.7% from $3.48 million in the same period of 2023. This was led by a year-over-year revenue reduction from its sensor business, offset partially by growth in its drone segment.\n\nAGEAGLE AERIAL SYSTEMS, INC. Price, Consensus and EPS Surprise\n\nAGEAGLE AERIAL SYSTEMS, INC. price-consensus-eps-surprise-chart | AGEAGLE AERIAL SYSTEMS, INC. Quote\n\nKey Business Metrics\nRevenue Breakdown\nThe drone segment contributed $2.15 million to the third quarter of 2024, a significant increase from $1.63 million in the prior year. This segment accounted for 65.4% of total revenues. The sensor segment contributed $1.07 million to the reported quarter, a sharp decline from $1.76 million in the third quarter of 2023. The software-as-a-service (SaaS) segment added $68,437, lower than $101,043 in the year-ago quarter.\nThe gross profit for the third quarter was $1.63 million, up 34.6% from $1.21 million in the prior-year quarter, driven by a reduction in the cost of sales. The gross margin increased to 49.7% from 34.8% in the prior-year quarter, reflecting better cost management.\nDespite improvements, the operating margin was -56.7% in the third quarter of 2024, though this considerably improved from -172.1% in the prior-year quarter.\nOperating Expenses\nOperating expenses decreased to $3.5 million in the third quarter of 2024 from $7.2 million in the year-ago quarter. The decline in operating expenses was led by lower general and administrative costs (which fell to $1.89 million in the reported quarter from $3.36 million in the year-ago quarter), and reduced research and development expenses (which decreased to $0.97 million from $1.37 million in the prior-year quarter).\nBalance Sheet & Liquidity\nAs of Sept. 30, 2024, AgEagle Aerial reported $265,126 in cash, a decline from $819,024 at the end of 2023, reflecting continued cash burn. The company’s working capital deficit stood at $4.54 million, up from $1.49 million at the end of December 2023.\nManagement Commentary & Factors Influencing Results\nManagement cited continued challenges in the sensor market and improvements in the drone business as key factors behind the revenue shift this quarter. The company is also navigating a highly competitive landscape, compounded by supply-chain disruptions and customer budget constraints.\nAgEagle Aerial emphasized its ongoing efforts to streamline operations and reduce expenses while focusing on innovation in drones, sensors and SaaS offerings. Despite the net loss, its improved gross margin indicates progress toward operational efficiency.\nThe company highlighted its commitment to addressing financial headwinds, including the need for additional liquidity. Management is evaluating strategies to secure funding and optimize the business structure for long-term sustainability.\nOther Developments\nIn the quarter, AgEagle Aerial underwent a 1-for-50 reverse stock split, effective Oct. 14, 2024, to maintain compliance with the NYSE American listing requirements. Additionally, the company issued $3 million in convertible debt to manage its liquidity needs. There were significant changes in leadership, including the resignation of the CFO and three directors, followed by the appointment of an interim CFO and independent directors.\nAgEagle Aerial’s recent performance reflects challenges and opportunities as it navigates a transitional period. While operational losses have narrowed, the company's financial position and market volatility warrant close attention moving forward.\nWant the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report\nAGEAGLE AERIAL SYSTEMS, INC. (UAVS): Free Stock Analysis Report\nTo read this article on Zacks.com click here.\nZacks Investment Research","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"0","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; +claudebot@anthropic.com)","isDev":false,"isTTM":true,"deviceId":"web-server-community-laohu8-v3","version":"4.29.3","shortVersion":"4.29.3","platform":"web","vendor":"web","appName":"ttm","isIOS":false,"isAndroid":false,"isTiger":false,"isTHS":false,"isWeiXin":false,"isWeiXinMini":false,"isWeiBo":false,"isQQ":false,"isBaiduSwan":false,"isBaiduBox":false,"isDingTalk":false,"isToutiao":false,"isOnePlus":false,"isHuaWei":false,"isXiaomi":false,"isXiaomiWebView":false,"isOppo":false,"isVivo":false,"isSamsung":false,"isMobile":false},"href":"/m/news/2486054805"}