AgEagle Reports Backlogged Sales of $2 Million Fueled by Growing Global Demand for MicaSense Drone Sensors
June 29 2022 - 8:30AM
AgEagle Aerial Systems Inc. (NYSE American:
UAVS) (“AgEagle” or the “Company”), an industry-leading provider of
full-stack drone, sensor and software solutions for commercial and
government/defense use, today reported that steps taken to increase
supply due to significant demand for its new MicaSense Altum-PT and
RedEdge-P sensors, and its legacy RedEdge-MX sensors, will enable
the Company to ship more than $2 million in backlogged purchase
orders in the third quarter, ending September 30, 2022. In
addition, AgEagle expects to meet ongoing global market demand for
its multispectral sensors moving forward, notwithstanding any
further unforeseen delays.
“Since the market launch of AgEagle’s latest
drone sensor innovations in the fourth quarter of 2021, market
demand for the Altum-PT and RedEdge-P has been skyrocketing due
largely to escalating global adoption of advanced sensor technology
in Agriculture, Plant Research, Land Management and Forestry
Management. We are very pleased to report that our efforts to
overcome bottlenecks in our supply chain for electronic components
used in the production of our sensors have proven successful,
positioning AgEagle to regain momentum on fulfilling millions of
dollars in backorders we’ve received over the past three quarters,”
stated Barrett Mooney, Chairman and CEO of AgEagle.
Continuing, Mooney said, “Looking ahead, these
efforts should also help to ensure that we fulfill future orders on
a much timelier basis as we continue to provide premium, high
quality solutions for our customers and the industry. We are
thrilled that drone operators around the globe are recognizing the
value and superior performance capabilities of our advanced
sensors. Moreover, we greatly appreciate the patience and
understanding our customers have demonstrated as we’ve worked
through the supply chain challenges that have delayed our sensor
shipments.”
Altum-PT is an optimized three-in-one
solution for advanced remote sensing and agricultural research. It
seamlessly integrates an ultra-high resolution panchromatic imager,
a built-in 320X256 radiometric thermal imager and five discrete
spectral bands to produce synchronized outputs such as RGB color,
crop vigor, heat maps and high resolution panchromatic in just one
flight. Offering twice the spatial resolution of the
prior Altum™ sensor, Altum-PT empowers users with
deeper analytical capabilities and broader, more diverse
applications; enabling them to discern issues at the plant level,
even in the early growth stages; and to conduct early stage stand
counting, as well as season-long soil monitoring, among other
critical uses.
A single camera solution which is compatible
with a wide array of drone aircraft ranging from large fixed wing
to small multirotor, RedEdge-P captures calibrated
high-resolution multispectral and RGB imagery with an optimized
field of view and capture rate for efficient flights. This solution
seamlessly integrates a high resolution, all-color imager with
synchronized multispectral imagers to enable pixel-aligned outputs
at previously unattainable resolutions, while maintaining the
efficiency and reliability of its RedEdge™ legacy.
Processing of data outputs is enabled through industry standard
software platforms, including AgEagle’s Ground Control.
Sales inquiries relating to AgEagle’s sensors
should be directed to sales@micasense.com.
About AgEagle Aerial Systems
Inc.
AgEagle and its wholly owned subsidiaries are
actively engaged in designing and delivering best-in-class drones,
sensors and software that solve important problems for our
customers. Founded in 2010, AgEagle was originally formed to
pioneer proprietary, professional-grade, fixed-winged drones and
aerial imagery-based data collection and analytics solutions for
the agriculture industry. Today, AgEagle is a leading provider of
full stack drone solutions for customers worldwide in the energy,
construction, agriculture and government verticals. For
additional information, please visit our website at
www.ageagle.com.
Forward-Looking StatementsThis
press release may contain “forward-looking statements” within the
meaning of Section 27A of the Securities Act of 1933 and Section
21E of the Securities Exchange Act of 1934. Such statements involve
risks and uncertainties that could negatively affect our business,
operating results, financial condition, and stock price. Factors
that could cause actual results to differ materially from
management’s current expectations include those risks and
uncertainties relating to our competitive position, the industry
environment, potential growth opportunities, and the effects of
regulation and events outside of our control, such as natural
disasters, wars, or health epidemics. We expressly disclaim any
obligation or undertaking to release publicly any updates or
revisions to any forward-looking statements contained herein to
reflect any change in our expectations or any changes in events,
conditions, or circumstances on which any such statement is based,
except as required by law.
AgEagle
Aerial Systems Contacts: |
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Investor
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Media
Inquiries: |
Gateway Group, Inc. |
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media@ageagle.com |
Matt Glover or Cody Cree |
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Phone: 949-574-3860 |
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Email:
UAVS@gatewayIR.com |
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