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Balance Sheet Accounts | 12 Months Ended
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Dec. 31, 2023
Organization, Consolidation and Presentation of Financial Statements [Abstract] |
Balance Sheet Accounts | Note 3 - Balance Sheet Accounts Accounts Receivable, Net As of December 31, 2023 and 2022, accounts receivable, net consist of the following: Schedule of Accounts Receivable, Net
|  | December 31, 2023 |  |  | December 31, 2022 |
Accounts receivable |  | $ | 2,216,235 |  |  | $ | 2,229,840 |
Less: Allowance for credit losses* |  |  | (158,689 | ) |  |  | (16,800 | )
Accounts receivable, net |  | $ | 2,057,546 |  |  | $ | 2,213,040 |
* | Allowance for credit losses - Accounts receivable, net represent amounts billed and due from customers. Substantially all accounts receivable on December 31, 2023 are expected to be collected in 2024.
Customer Concentration Accounts receivable concentration information for customers comprising more than 10% of the Company’s total net sales of such customers is summarized below: Schedule of Customer Concentration
|  | Percent of total accounts receivable for year ended December 31, |
Customers |  | 2023 |  |  | 2022 |
Customer A |  |  | 10.1 | % |  |  | — | %
Inventories, Net As of December 31, 2023 and 2022, inventories, net consist of the following: Schedule of Inventories
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Raw materials |  | $ | 4,648,966 |  |  | $ | 5,288,206 |
Work in process |  |  | 903,217 |  |  |  | 1,106,056 |
Finished goods |  |  | 1,806,239 |  |  |  | 614,400 |
Gross inventories |  |  | 7,358,422 |  |  |  | 7,008,662 |
Less: Provision for obsolescence |  |  | (421,442 | ) |  |  | (322,815 | )
Inventories, net |  | $ | 6,936,980 |  |  | $ | 6,685,847 |
Prepaid and Other Current Assets As of December 31, 2023 and 2022, prepaid and other current assets consist of the following: Schedule of Prepaid and Other Current Assets
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Prepaid inventories |  | $ | 12,738 |  |  | $ | 281,484 |
Prepaid software licenses and annual fees |  |  | 182,510 |  |  |  | 184,429 |
Prepaid rent |  |  | 51,497 |  |  |  | 234,691 |
Prepaid insurance |  |  | 166,210 |  |  |  | 167,794 |
Prepaid value-added tax charges |  |  | 63,209 |  |  |  | 99,558 |
Prepaid other and other current assets |  |  | 72,397 |  |  |  | 61,592 |
Prepaid and other current assets |  | $ | 548,561 |  |  | $ | 1,029,548 |
AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022 Note 3 - Balance Sheet Accounts– Continued Property and Equipment, Net As of December 31, 2023 and 2022, property and equipment, net consist of the following: Schedule of Property and Equipment, Net
Type |  | (Years) |  |  | 2023 |  |  | 2022 |
|  | Estimated Useful Life |  |  | December 31, |
Type |  | (Years) |  |  | 2023 |  |  | 2022 |
Leasehold improvements |  |  | 3 |  |  | $ | 136,382 |  |  | $ | 106,837 |
Production tools and equipment |  |  | 5 |  |  |  | 1,003,726 |  |  |  | 632,514 |
Computer and office equipment |  |  | 3-5 |  |  |  | 407,747 |  |  |  | 507,637 |
Furniture |  |  | 5 |  |  |  | 74,420 |  |  |  | 77,799 |
Drone equipment |  |  | 3 |  |  |  | 170,109 |  |  |  | 170,109 |
Total property and equipment |  |  |  |  |  | $ | 1,792,384 |  |  | $ | 1,494,896 |
Less: Accumulated depreciation |  |  |  |  |  |  | (992,492 | ) |  |  | (703,741 | )
Total property and equipment, net |  |  |  |  |  | $ | 799,892 |  |  | $ | 791,155 |
For the years ended December 31, 2023 and 2022, depreciation expense is classified within the consolidated statements of operations and comprehensive loss as follows: Schedule of Property and Equipment Depreciation Expense
Type |  | 2023 |  |  | 2022 |
|  | For the Years Ended December 31, |
Type |  | 2023 |  |  | 2022 |
Cost of sales |  | $ | — |  |  | $ | 266,468 |
General and administrative |  |  | 257,092 |  |  |  | 179,461 |
Total |  | $ | 257,092 |  |  | $ | 445,929 |
Accrued Liabilities As of December 31, 2023 and 2022, accrued liabilities consist of the following: Schedule of Accrued Expenses
|  | 2023 |  |  | 2022 |
|  | December 31, |
|  | 2023 |  |  | 2022 |
Accrued purchases and customer deposits |  | $ | 290,126 |  |  | $ | 102,319 |
Accrued compensation and related liabilities |  |  | 278,794 |  |  |  | 774,916 |
Provision for warranty expense |  |  | 303,217 |  |  |  | 288,807 |
Accrued dividends |  |  | 512,227 |  |  |  | 172,596 |
Accrued professional fees |  |  | 211,086 |  |  |  | 262,737 |
Accrued interest |  |  | 326,945 |  |  |  | — |
Other |  |  | 21,957 |  |  |  | 79,331 |
Total accrued liabilities |  | $ | 1,944,352 |  |  | $ | 1,680,706 |
AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS FOR THE YEARS ENDED DECEMBER 31, 2023 AND 2022

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