AgEagle Aerial Systems Registers 173% Revenue Growth In Q2; Margin Contracts Due To Supply Chain Crisis

August 16, 2022 10:21 AM | 1 min read | Make a Comment

AgEagle Aerial Systems Inc UAVS reported second-quarter FY22 revenue growth of 173% year-on-year to $5.29 million.
Segments: Sensor sales totaled $2.10 million, up 23% Y/Y, Software subscription sales totaled $0.33 million, up 30% Y/Y, and Drone sales totaled $3.04 million.
Margin: The loss from operations totaled $(5.39) million compared to $(4.82) million following a decline in gross profit margins due to supply chain constraints and higher operating costs.
AgEagle held $13.5 million in cash and equivalents, and its EPS loss was $(0.07).
Price Action: UAVS shares traded lower by 12.60% at $0.69 on the last check Tuesday.