AgEagle Aerial Systems Shines In Q2

AgEagle Aerial Systems Inc UAVS reported second-quarter FY21 revenue growth of 120.3% year-on-year to $1.94 million.
MicaSense and Measure Global drove the growth, also impacted by increased sales of its HempOverview platform to Iowa and Florida.
Segments: Sensor sales totaled $1.71 million, Software subscription sales totaled $0.17 million, and Drone and custom manufacturing sales totaled $0.06 million.
Margin: The gross margin expanded by 4,200 bps to 50% due to increasing its mix of product offerings through the acquisitions of MicaSense and Measure.
AgEagle held $39.2 million in cash and equivalents, and its EPS loss was $(0.07).
AgEagle continues investing in the design and development of accurate leading-edge drones, sensors, and software solutions capable of providing customers with material cost-saving efficiencies, data-backed actionable intelligence, and enhanced safety and security for their workforces and worksites.
Price Action: UAVS shares traded lower by 0.26% at $3.80 in the market session on the last check Monday.

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