UAVS - Earnings call transcript Q3 2021 | AgEagle Aerial Systems, Inc.

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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 officers will respond to questions that were previously submitted via email by analysts and investors.

Before I introduce Brandon, I remind you that today's call, including the question-and-answer session, statements that are not historical facts, including any projections, statements regarding future events or future financial performance, or statements of intent I believe are forward-looking statements and are covered by the safe harbor disclaimers contained in the Company's public filings with the SEC. Actual outcomes and results may differ materially from what is expressed or implied by these forward-looking statements. turn ahead, over sir. I'll Brandon, AgEagle said, go please that the to call CEO, With

Brandon Torres Declet

of incredibly Thank been we've time. since CEO We've almost and made X and you good short months I afternoon, in such taken was amount much the of how proud everyone. a It's AgEagle progress I'm of appointed in recent specifically, our global billion-dollar a of we've hard we X leading companies, helm, completed becoming Fixed-Wing been most at senseFly. goal, work, XXXX, major world's the acquisitions Company. one building More the toward drone drone

lawsuit investing into Russell continue the at on laser-focused are solutions to speed. and breakneck best-in-class XXXX and Index. We bring market dismissed. them resources frivolous our We joined products successfully We to several had

add sheet industry team best raising to our continue horizon. growth that, talent engineering. top opportunities the balance of on sales, the efforts in Stifel adequately been Raymond of some our through abundant the we've fortify On James the all and to marketing, and support capital with to to able We

we'll gives that meaningfully sustainable able going proposition we at for offer value customers need utmost during a to and towards beginning. clear regarding industries on in one review the answer I'll of our drone [Indiscernible] capitalize into concluded over been months, highlights drive government particular much confidence CFO, financial turn segment webcast, ability organic first companies the accomplished This we've to I shareholders. the quarter. on path few focus the agriculture, been detail ability energy have by to unique autonomous U.S. can drawn the Nicole, over have shareholder increase confidence like ever-growing is it submitted a accomplish our quarter, of along solutions a believe growth, This for really operational in we to across the results the are solution. our variety I call. full-stack look our just during us we've But to you. each last As questions have I'd the with more and go and that Nicole, how the within forward, value. markets. We to to over construction, our X what applications a growth with the

Nicole Fernandez Mcgovern

Brandon. This past we the filed And Investor joining of SEC today. XX-K SEC.gov just our section on Thanks, our the with you all thank accessible I Relations us for was on the and Website. AgEagle Friday,

press the highlights $XXX,XXX in XXX% climbed this $X.X as key morning, we release XXth, XXXX, like recap the from million period. which approximately to to a ended via some Additionally, X announced revenues I'd report year total But from months September prior approximately here.

[Indiscernible] $ revenue As period. product approximately and totaled million the sales further in lines look compared into for X.X sensor we prior to year X results, the [Indiscernible] the

quarter Software approximately measure $XXX,XXX we second of sales year $XX,XXX period. this compared increase in the having primarily to ground sales was of from by acquired in driven This only the the which benefit increased control, year. to the prior

our profit the the to to largely was in the revenues gross in product Our XX% shift quarter for the prior-year is attributed This reminder total mix, third on decrease offerings. period. XX% the of compared product

of loss $X.XX net $X.XX common stockholders per stockholders loss approximately Our or or $XXX,XXX per loss net share the for period. approximately million to common compared loss available available to $X.X a share prior-year was to

subscriptions profit X-month Reddit increased hemp million totaled Breaking XXXX, of ground Now down prior software to total million the measure $X.X ended, centers results, compared year's months and $X.X nearly and revenues September sales period. X at XX, results revenue control X to our for the primary gross we XX% looking revenues contributing and million months the products XXX% the $X.X the XX% in Consolidated overview XXXX. increased in XXX all-time of shift same in the months to profit up The margin gross serve. $XXX,XXX. new X margin of in in points offer of factor approximately we our mix basis customers from on our was total the a to totaled in margin gross increase markets

of to million AgEagle's a for months the the or $X.XX Now, ended share same moving compared loss or to XX, common common in per net month bottom loss loss the net $XX.X to available available to was X XXXX. September per $X.XX XXXX, million approximately line. stockholders $XX.X stockholders X period share loss for

approximately million, million approximately as end XXXX of position September XX, $XX.X Our $XX.X the up as from of was XXXX. cash of

increased equity as as compared to $XX.X XXXX. million of to stockholders of end the approximately September total addition, XXXX, $XX.X approximately of million In substantially XX,

Lastly, I an raising provide update want on efforts. capital to our

For provide pursue building through we government, substantial raised to and significant opportunities co-agents our growth Stifel will September our of verticals to the May we when These XXXX, by XX, shareholders. and increased goal $XX.X have target assets agriculture, our million XXXX, us full-stack a allowed our construction, solution XX, that delivering with energy, ATM a believe resources our approximately access, value using ultimately James. for Raymond

Brandon. pass I'll it operational for our over Now, a highlights to details the back few go and Brandon of quarter.

Brandon Torres Declet

Nicole. Thanks,

in led and and drone we at mission-critical on software has designing the solution. sensors, of number quarter, centered focus address energy, During of verticals. agriculture, This strategies the business developments includes a airframes, announcement material third on AgEagle. delivering and a This the government applications that construction, full-stack focused best-in-class, executing

that launched our to are that I'd exceeding with sensors like highly exciting new have sales, which drone start advanced sensor highlight. our year this of all X expectations news the Let's and we

legacy at of small the RedEdge-P. fixed to an all imagery multi-spectral is rotor. pixel enable RGB capture double to capture was color RedEdge integrates the while sensor of a rate. and with multi-spectral resolution the the RedEdge-P to maintaining spatial with comprehensive, efficiency This output to multi field-of-view X that offering acreage, lined its This wide long, that the captures canopy and seamlessly resolution. of a ranging highest while times one season over RedEdge solution we and wing, solution the single the built RedEdge-P, unattainable to aircraft, with and resolutions, camera plant at sensor, previously large data drone band introduced industry. from array It legacy. twice The purpose-built spatial first imagers compatible power synchronized small considered larger among provide had on panchromatic is new an the analysis outputs all resolution a imager optimized the The speed, reliability of the been in the adding

control outputs from the complementary delivery of data sensors new this measured software, addition, actionable the In highly to enabling sensor. ground our

other color, sensor. produce as diverse and the RGB empower we research. bigger, see critical issues the and exciting coming last panchromatic conduct sensor stages, discern well the long to to the ultra PT Overall, early at optimized ULTEM season such users synchronized to X-in-one X counting, eminent as MicaSense and maps, out that stand outputs, discrete even spatial among applications. an other early-stage bands new imager, the seamlessly panchromatic growth integrates high-resolution remote resolution them features it's week couple with one the advanced prior a twice soil as of just of The crop enable help been plant and spectral agriculture an This innovation of other applications. more and highly will and level, in monitoring, in broader, in sales new deeper are keep is past customer launched sensing imager, on the that have full-stack built-in components team capabilities solution. will thermal that feedback, the I'm sensor Seattle. These capabilities ULTEM Offering The over months, strong to for complementary believe just our drone high-resolution of very was the sensor ULTEM flight. we and radiometric PT. Based we proud industry-leading solution of analytical

comply game-changing coming Ground that This proposition customers. value we our value access excited about our will it really capabilities integration collaboration, the available including Company, collaboration very make our soon will Control capabilities Wing seamlessly underpinning customers morning, processing, the announced materially our government more. these as sensors We with authorization for capability This Control. and customers, continue provide unit of awareness situational safely drone and flying and to software OpenSky, is accurate discussions will data to our partnership, enhance Alphabet. innovations drones. drone new integrations capabilities fixed-wing their backbone the our Google's tools the include of software superior rules which operate measured OpenSky we makes of necessary from current hardware, enterprise into customers with division. and autonomous mind, and Measure enterprise aerospace, atlas analysis, will with for to regulations, aerospace AgEagle and sensors control. and Measure MicaSense analytical controlled and and of and delivery incredible expected and programs the realize Wing's important provide time full-stack image offers OpenSky to wherever require this OpenSky Ground is solution talk new we With into capture, the planning, to full multi-spectral our available. is easy collaboration I'm in a the ground in flight to believe much real and we to integration Now into with integrate application Integrated parent Wing, out to request Through of partnership airspace This software compliantly.

integrated farmer to sensor to end forward agribusiness, software QX. large individual the from that fully and everyone of solutions, and product the launching looking from can new benefit at the we're Now,

solutions. optimistic we we far and significant drone growth MicaSense enhanced so software progress believe and very the capabilities are days early business. made least, side we've still the to our with in look of senseFly, come the we've forward not with integration the we will on progress our I'd to but the Although highlight the that our manufacturing like made are of opportunities and Wing with with Last

XX Fixed-Wing senseFly in our in Carolina. XXXX, proprietary of as senseFly of aware, family across and utilize announced Raleigh, world expected Luzon, Fixed-Wing actionable by employs is full-stack are developed mid-October, revenues on Parrot to we you for generated we major them is line this XXXX in North delivering strategic of around industry growth core drones. of be allowing be thousands multiple verticals energy, customers to drone solutions an other as high-performance it These ideal end markets. and industries our which of AgEagle government, the third is total acquisition approximately Switzerland, strategy, and many focused aerial Adding world's senseFly talented year. making intelligence. founded reputation from fit drone the has among produce the members since branded Company Company As accelerate senseFly In autonomously, can construction, a to our in acquired to leading a and are develops one agriculture, and was A manufacturers. million ultralight operated collect strong $XX.X and approximately and that highly drones EB

portfolio addition, opportunities global brings development, having talent solid and we well-established acquisition advanced to and engineering strong we property. intellectual up. this these our excels AgEagle growth reseller and full-stack the We new forward capabilities network, believe aerospace that firmly out solution, rounds a In of will that senseFly at look believe research a that open

Our Unit year, acquisition this of a that or our also Defense's vertical been of XXth has start. has government given Department by Defense senseFly strong sUAS the to Innovation X.X senseFly we the of list Blue announced DIU. named On October

of to installation, registration training various Air Force the TAC Fort the it's capabilities initial throughout United the drones U.S. the the testing at largest demos to incredibly me, Hunter opportunities registration September we Academy the where purpose evaluating adverse year, tests become Defense Department senseFly In tactical the systems officials come demonstration government 's, mid took evaluation. late senseFly completed demonstrations at Reserves, July the other expect various sUAS States eBee to TAC, and at in ensure the Army outlawed TAC, U.S. the testing solutions of TAC. consisting X.X an liggett, for evaluation technical delivery qualification highlight of in In testing of in will innovative, part secure to player and for Colorado, has with well The environments. of government. end high-altitude initial X underwent opening up these base Blue U.S. an of in process process, eBee types eBee to senseFly ISR helping -- the performed completely of XXXX, senseFly strengths drone this mapping important place conducted government excuse complete and demonstration U.S. and on. domestic unique and will the senseFly eBee and entities of depend Through a prior industrial successfully capabilities and XXXX, second and with in As flight

we're some initiatives Now, working. corporate just of the

invigorated front And us vital positions. exciting is on the be folks together. the we workforce also of website added the and we this by actively expertise team tremendous to AgEagle to we're this year, to growth about teams our include success and acquisitions We're that number a and sensor talent a a several expanded to to team Recently, our players career team opportunities learn capable Company. and AgEagle confident new of new the our still our through Controller. we've Having is to a we're to addition developers and Corporate software key welcomed to are to in team be we these that encourage VP In opportunities putting expanding view I in hires. the of seeking people more A engineers of going and corporate

customers at drone broad productivity are also vision. as world-class, X teaming work acquisitions, Company tangible and with these on provide optimize we global our a stack Measure, full other Unify to drone providers, and solutions and expanding us focused and safety, such efficiencies, drone our MicaSense, technology Wing powerful that truly market cost swift best-in-class returns that together hard and benefits by team workforce we scalable, maintaining solutions of achieve More help to and with will program allowing is adoption workflow can As solutions. investments. are to on recent create synergies customers with our provide senseFly, focused culture work integrating on X AgEagle

and united to and we the Biden bill a trillion With should call, Act would and investment for both Before allocating acceleration. Senate. electric President the Industry this comment $XXX growth railways, new projects, of the infrastructure the Q&A U.S. for on signing positive Drone U.S. other infrastructure monetization construction, Jobs be the of grids, like I landmark major legislation tops move portion approximately roads, in potentially repair, profound Commercial $X.X to and approved representatives today, bridges, by impact bracing, billion

proven for Nicole poised valuable and you the Given progress other leading instigating years. ultimately it their the already and concluded will within several next benefit our unmanned of look throughout among use I to mapping, dollars value. construction, Q&A all solution the from return the government I'd uprise American-based like turn that enterprise to made providers, Nicole drone an energy, have shareholder programs some the you. billions drone over government that but on projects including surveying are forward begin to into keeping drive to closing inspection, sectors, infrastructure that sponsored session. we for to aerial applications over AgEagle, remarks, journey I'll back to prepared flowing

Nicole Fernandez Mcgovern

Brandon. Thanks,

earlier some address the in we've Let's days. questions that received

than or future? your out Brandon. Our build do first solutions components do anticipate X complete rather you M&A you would other that feel solutions, you house? buy need question, made now any acquisitions have you to more in activity to the so, full-stack that what If in

Brandon Torres Declet

pursuing maintained to key We've for growth this AgEagle. a beginning of that remain Nicole. since year applications the strategy Thanks

for However, also strategic growth and acquisitions shareholder future partnerships to taking also with value sense that value very if we're tangible a to and to And that solutions our we to full-stack products when new so, similar and that companies building it best-in-class, makes customers. It's every additive and will relationship capabilities and our the and ensuring very the technology collaborative to our improve to explore intend we've potential add pursue opportunity, approach Wing, functionality with other stated and drone support do our acquisitions value. for long-term create organic customers. also important thoughtful

Nicole Fernandez Mcgovern

manufacturing for the Wichita great. Thanks, forward? going facility was What Brandon. your are plans That

Brandon Torres Declet

Nicole. Ron United entire industrial work to proud of representative with MicaSense, at sensors fellow and enhance the and wherever week, those our host domestic capability members jobs is provide proposition congress manufacture high-tech, was the customers. has I Board Wichita our government to my local the further our the by to enhancing This in past Thanks, AgEagle facilities. I ability heart we and capabilities, of can Estes, the At joined and well-paying to the how bringing Congressman States, for our facility. senseFly briefing teams and congressional here value was Measure, base air-frames Kansas a discuss and Members delegation

for we As on teams, integrating will news we're support on senseFly work we to going mission. more MicaSense, measuring how that

Nicole Fernandez Mcgovern

Great.

branding? Next your away Company solutions a its are with question to centric rebrand plans current there applicable is, Ag variety any the being across of industries, from

Brandon Torres Declet

Thanks, and current our Nicole. being listening our shareholders, and shareholder improve acquisitions one and to what our That groups into customers, on do said, the Having to year, we're remain and shall on integrating as this position our measurably focus how X Company. our can we headcount of increasing Company made all business perceived a is market value. we're and already our

Nicole Fernandez Mcgovern

Perfect.

Next question.

to an market, continue you have in run into finding are skill incredibly sets? you As the with issues expand necessary people your hiring team tight labor

Brandon Torres Declet

AgEagle make checks everyone out expect exciting top right and quality we are mode, be exciting I will of apparent our now XXXX. opportunities, companies future. openings. plenty efforts the into and those well most talented of drone Given enjoyed leading looking growth we fierce working that we for there now, development particular, continue importantly, best professional new our qualified, to by of actively high a expected success capitalize to fast exciting we business We've one growing people and benefits, opportunities the make the the work, drone career opportunities quite is high-quality salaries, for industry, mark our competitive will into we hope to readily and operations offering who AgEagle? to bit globally places have ability on offering Is and of talent are in industry. like the XXXX And are that lots in success paced hiring it in the website in and that recruiting and a Competition

Nicole Fernandez Mcgovern

you to impacting for can impacting are the or your question ability is, that to supply solutions last speak to today or Our customers? currently sensor drone deliver that you chain constraints anticipate

Brandon Torres Declet

been this of a fair many has chain our people, Well, like top experienced Nicole. Thanks, for mind of share companies, supply constraints. we've many and yes,

critical on move that we'll to and continue remain necessary. This identify schedule, can as new alternative if Q&A suppliers necessary. we issue eye launch on or close when I products and a we the confident address concludes session. keeping this very and We're However, near quickly to a

end I reiterate want webcast, future. the for we to Before vision just our the

are foundation strong partnerships. we With and First, Company, best-in-class strategic more minded. to proven a growth than acquisitions solutions a uniquely innovation, decade solutions emerging industries AgEagle experience, positioned a to legacy and as drone R&D, product and offer through is known of

Our reputation companies apart as dominant a an in American become sets positions us drone us to and the force technology market.

a ever. Second, than our mapping to customers our team regulatory benefit allow on expertise position believe pole leaf-level will of we inspection, in and drones puts construction fly pipeline drone to applications places autonomous bench deep us from varied changes the as that health, and crop warfighter. tactical surveys, drones data for more as These the as will high-quality in collect autonomously designed

like I'd progress. like innovation, all joining support. to professionals of continuing way vision. our you pave are of robots. today, share that is of look trust that X diverse, with our passionate, we collaborative and Lastly, for to together With for you. to future experienced employees forward are winning. intent webcast and We the building all back shareholders the Company who solution to this their autonomous on an both innovative I'd continued resilient Operator, can X thank that, to We We thank to our believe culture our will

Operator

Ladies teleconference. Brandon. gentlemen, today's does conclude and Thank this you,

a and this time. you You Thank your participation may at your lines for great disconnect day. have

AgEagle Aerial Systems (UAVS) 16 Nov 212021 Q3 Earnings call transcript