- AgEagle Aerial Systems ( NYSE: UAVS ) stock fell ~6% on Wednesday after yesterday's Q3 results .
- Revenues grew +172% Y/Y to $5.5M.
- AgEagle said sales of the company's line of eBee fixed wing drones were $2.1M, compared to $0 in Q3 2021 as the acquisition of senseFly occurred in October 2021.
- AgEagle added that revenue growth was also positively impacted by strong demand for Altum-PT and RedEdge-P multispectral sensors, which resulted in total sensor sales rising 71% Y/Y to $3.3M.
- Loss from operations were -$5.2M, compared to -$3.8M in Q3 2021 due to higher general and administrative expenses, and sales and marketing costs linked with the acquisition of senseFly, plus Higher research and development costs.
- As of Sept. 30, cash position was $5.3M, compared to cash of $14.6M as of Dec. 31, 2021.
For further details see:
AgEagle Q3 revenue soars on sensor sales, eBee drones