[PART I FINANCIAL INFORMATION](index=4&type=section&id=PART%20I%20FINANCIAL%20INFORMATION) [Financial Statements](index=4&type=section&id=ITEM%201.%20FINANCIAL%20STATEMENTS%3A) AgEagle Aerial Systems Inc. presents unaudited condensed consolidated financial statements for Q3 2022, highlighting acquisition-driven revenue growth, a Q3 net income from debt extinguishment, and ongoing liquidity challenges [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of September 30, 2022, total assets decreased to **$95.3 million** from **$104.7 million**, total liabilities decreased to **$7.1 million** from **$28.1 million**, and stockholders' equity increased to **$88.3 million** from **$76.6 million** Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | Sep 30, 2022 (unaudited) | Dec 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $5,302 | $14,591 | | Total current assets | $15,993 | $22,996 | | Goodwill | $64,867 | $64,867 | | Total assets | $95,344 | $104,683 | | **Liabilities & Equity** | | | | Total current liabilities | $5,772 | $17,149 | | Total liabilities | $7,066 | $28,106 | | Total stockholders' equity | $88,278 | $76,577 | | Total liabilities and stockholders' equity | $95,344 | $104,683 | [Condensed Consolidated Statements of Operations](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations%20and%20Comprehensive%20Income%20%28Loss%29) Q3 2022 saw a net income of **$1.7 million** (vs. **$3.8 million** net loss in Q3 2021) driven by a **$6.5 million** debt extinguishment gain, with revenues growing **172%** to **$5.5 million** Statement of Operations Highlights (in thousands) | Metric | Q3 2022 | Q3 2021 | YoY Change | Nine Months 2022 | Nine Months 2021 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Revenues | $5,491 | $2,022 | +172% | $14,621 | $5,661 | +158% | | Gross Profit | $2,083 | $795 | +162% | $5,998 | $2,776 | +116% | | Loss from Operations | ($5,147) | ($3,800) | +35% | ($18,018) | ($11,581) | +56% | | Net Income (Loss) | $1,665 | ($3,771) | N/A | ($11,533) | ($11,380) | +1% | | EPS (Basic) | $0.02 | ($0.05) | N/A | ($0.14) | ($0.17) | N/A | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased to **$88.3 million** by September 30, 2022, from **$76.6 million** at year-end 2021, driven by **$9.9 million** from Series F Preferred Stock and **$4.6 million** from common stock sales, partially offset by a **$11.5 million** net loss - Key changes in stockholders' equity for the nine months ended September 30, 2022, include **$9.9 million** from Series F Preferred Stock issuance, **$4.6 million** from Common Stock sales, and **$2.8 million** from Measure acquisition contingent liability settlement, offset by a **$11.5 million** net loss[15](index=15&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended September 30, 2022, cash decreased by **$9.3 million**, with **$15.3 million** used in operations and **$8.1 million** in investing, partially offset by **$14.6 million** provided by financing activities Cash Flow Summary (Nine Months Ended Sep 30, in thousands) | Cash Flow Activity | 2022 | 2021 | | :--- | :--- | :--- | | Net cash used in operating activities | ($15,342) | ($6,678) | | Net cash used in investing activities | ($8,063) | ($30,642) | | Net cash provided by financing activities | $14,578 | $45,601 | | **Net (decrease) increase in cash** | **($9,288)** | **$8,281** | [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements%20%28unaudited%29) The notes provide critical context to the financial statements, detailing business, accounting policies, and financial items, including a going concern warning, acquisition liability settlements, segment data, and equity financing - The company designs and delivers autonomous unmanned aerial systems, sensors, and software for industries including energy, infrastructure, agriculture, and government[22](index=22&type=chunk) - Due to sustained operating losses and the need for additional liquidity, management has concluded there is substantial doubt about the Company's ability to continue as a going concern[24](index=24&type=chunk) - In Q3 2022, the company settled outstanding holdback liabilities from MicaSense, senseFly, and Measure acquisitions, resulting in a **$6.5 million** debt extinguishment gain[86](index=86&type=chunk)[87](index=87&type=chunk)[90](index=90&type=chunk) - In June 2022, the company issued 10,000 shares of Series F Convertible Preferred Stock for gross proceeds of **$10 million**[97](index=97&type=chunk) [Management's Discussion and Analysis (MD&A)](index=40&type=section&id=ITEM%202.%20MANAGEMENT%27S%20DISCUSSION%20AND%20ANALYSIS%20OF%20FINANCIAL%20CONDITION%20AND%20RESULTS%20OF%20OPERATIONS) Management discusses Q3 2022 financial performance, attributing 172% revenue growth to acquisitions and sensor demand, while addressing increased operating expenses, growth strategies, and significant liquidity challenges with a going concern warning - The company's growth strategy focuses on leveraging its three centers of excellence (software, sensors, airframes), delivering new solutions, and pursuing complementary acquisitions[148](index=148&type=chunk) - Q3 2022 revenue increased **172%** to **$5.5 million**, driven by sales of eBee drone products from the senseFly acquisition and a **71%** increase in sensor sales[152](index=152&type=chunk) - Q3 2022 net income of **$1.7 million** was primarily due to a non-cash gain on debt extinguishment of **$6.5 million** related to acquisition holdback settlements[166](index=166&type=chunk)[168](index=168&type=chunk) - The company acknowledges substantial doubt about its ability to continue as a going concern due to its net losses and working capital needs, and is evaluating strategies to raise additional capital[178](index=178&type=chunk) [Quantitative and Qualitative Disclosures About Market Risk](index=46&type=section&id=ITEM%203.%20QUANTITATIVE%20AND%20QUALITATIVE%20DISCLOSURES%20ABOUT%20MARKET%20RISK) As a smaller reporting company, AgEagle is exempt from providing quantitative and qualitative disclosures about market risk - The company is a "smaller reporting company" and is not required to provide information regarding market risk[183](index=183&type=chunk) [Controls and Procedures](index=46&type=section&id=ITEM%204.%20CONTROLS%20AND%20PROCEDURES) Management concluded that disclosure controls and procedures were effective as of September 30, 2022, with no material changes in internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of September 30, 2022[184](index=184&type=chunk) - No changes in internal control over financial reporting occurred during the third quarter of 2022 that have materially affected, or are reasonably likely to materially affect, internal controls[186](index=186&type=chunk) [PART II - OTHER INFORMATION](index=47&type=section&id=PART%20II) [Legal Proceedings](index=47&type=section&id=ITEM%201.%20LEGAL%20PROCEEDINGS) The company reported no legal proceedings during the period - There are no legal proceedings to report[187](index=187&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=47&type=section&id=ITEM%202.%20UNREGISTERED%20SALES%20OF%20EQUITY%20SECURITIES%20AND%20USE%20OF%20PROCEEDS) The company reported no unregistered sales of equity securities during the period - There were no unregistered sales of equity securities to report[189](index=189&type=chunk) [Defaults Upon Senior Securities](index=47&type=section&id=ITEM%203.%20DEFAULT%20UPON%20SENIOR%20SECURITIES) The company reported no defaults upon senior securities - There were no defaults upon senior securities to report[190](index=190&type=chunk) [Exhibits](index=48&type=section&id=ITEM%206.%20EXHIBITS) This section lists the exhibits filed with the Form 10-Q, including officer certifications and XBRL data files - Exhibits filed include certifications by the principal executive officer and principal financial officer, as well as XBRL instance documents[194](index=194&type=chunk) [Signatures](index=49&type=section&id=SIGNATURES)

AgEagle Aerial Systems, Inc. (NYSE:UAVS) Q2 2022 Earnings Conference Call August 16, 2022 4:30 PM ET Company Participants Barrett Mooney - Chief Executive Officer and Chairman Nicole Fernandez-McGovern - Chief Financial Officer and Executive Vice President, Operations Operator Good day, everyone and thank you for participating in today’s conference call. Joining us today from AgEagle is Chief Executive Officer and Chairman of the Board, Barrett Mooney; and Nicole Fernandez-McGovern, AgEagle’s Chief Financia ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2022 OR (Exact name of registrant as specified in its charter) Nevada 88-0422242 (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transitio ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2022 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 001-36492 AGEAGLE AERIAL SYSTEMS INC. (Exact name of registrant as specified in its charter) Nevada 88-0422242 (St ...

AgEagle Aerial Systems Inc. (NYSE:UAVS) Q4 2021 Results Conference Call April 12, 2022 4:30 PM ET Company Participants Barrett Mooney - Chairman and CEO Nicole Fernandez-McGovern - CFO and EVP, Operations Operator Good day, everyone, and thank you for participating in today’s conference call. Joining us today from AgEagle is Chief Executive Officer and Chairman of the Board, Barrett Mooney; and Nicole Fernandez-McGovern, AgEagle’s Chief Financial Officer and Executive Vice President of Operations. Following ...

(Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2021 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _______ to ________ Commission file number: 001-36492 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 Form 10-K AGEAGLE AERIAL SYSTEMS INC. (Exact name of registrant as specified in its charter) Nevada 88-0422242 (State o ...

AgEagle Aerial Systems, Inc. (NYSE:UAVS) Q3 2021 Earnings Conference Call November 16, 2021 4:30 PM ET Company Participants Brandon Torres Declet – CEO Nicole Fernandez Mcgovern – CFO Conference Call Participants Operator Good day, everyone and thank you for participating in today's conference call. Joining us today from AgEagle is Chief Executive Officer and Board Member, Brandon Torres Declet and Chief Financial Officer, Nicole Fernandez-McGovern. Following Brandon's prepared remarks, both Company officer ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended September 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 001-36492 AGEAGLE AERIAL SYSTEMS INC. (Exact name of registrant issuer as specified in its charter) (State or other jur ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For The Quarterly Period Ended June 30, 2021 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File Number 001-36492 AGEAGLE AERIAL SYSTEMS INC. (Exact name of registrant issuer as specified in its charter) (State or other jurisdic ...

AgEagle Aerial Systems, Inc. (NYSE:UAVS) Q2 2021 Earnings Conference Call August 13, 2021 11:00 AM ET Company Participants Brandon Torres Declet – Chief Executive Officer Nicole Fernandez-McGovern – Chief Financial Officer Conference Call Participants Operator Please standby, we're about to begin. Good day everyone, and thank you for participating in today's conference call. Joining us today from AgEagle is Chief Executive Officer Brandon Torres Declet, and Chief Financial Officer, Nicole Fernandez-McGovern ...