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Segment Information
 3 Months Ended
Mar. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 11 – Segment Information

 

Non-allocated administrative and other expenses are reflected in Corporate. Corporate assets include cash, prepaid expenses, notes receivable, right- of-use assets and other assets.

 

As of March 31, 2024 and December 31, 2023, and for the three months ended March 31, 2024 and 2023, respectively, information about the Company’s reportable segments consisted of the following:

 

Goodwill and Assets

 

   Corporate   Drones   Sensors   SaaS   Total 
As of March 31, 2024                         
Goodwill  $—   $—   $7,402,644   $—   $7,402,644 
Assets  $1,332,319   $7,275,368   $14,485,717   $127,703   $23,221,107 
                          
As of December 31, 2023                         
Goodwill  $—   $—   $7,402,644   $—   $7,402,644 
Assets  $1,148,638   $8,666,641   $15,260,263   $80,359   $25,155,901 

 

 

AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

(UNAUDITED)

 

Note 11 – Segment Information-Continued

 

Net Income (Loss)

  

   Corporate   Drones   Sensors   SaaS   Total 
Three Months Ended March 31, 2024                         
Revenues  $—   $1,146,612   $2,633,540   $114,295   $3,894,447 
Cost of sales   —    687,231    1,189,328    63,466    1,940,025 
Income (loss) from operations   (885,584)   (1,979,760)   892,495    (421,039)   (2,393,888)
Other income (expense), net   (3,961,908)   54,197    (13,988)   —    (3,921,699)
Net income (loss)  $(4,847,492)  $(1,925,563)  $878,507   $(421,039)  $(6,315,587)
                          
Three Months Ended March 31, 2023                         
Revenues  $—   $1,966,442   $1,970,195   $120,432   $4,057,069 
Cost of sales   —    837,725    1,005,432    235,280    2,078,437 
Income (loss) from operations   (1,535,560)   (2,032,806)   237,654    (830,396)   (4,161,108)
Other income (expense), net   (257,201)   (181,190)   —    —    (438,391)
Net income (loss)  $(1,792,761)  $(2,213,996)  $237,654   $(830,396)  $(4,599,499)

 

Revenues by Geographic Area

 

   Drones   Sensors   SaaS   Total 
Three Months Ended March 31, 2024                    
North America  $575,143   $799,551   $106,745   $1,481,439 
Latin America   225,834    126,438    5,185    357,457 
Europe, Middle East and Africa   331,443    1,360,879    247    1,692,569 
Asia Pacific   14,192    321,279    1,870    337,341 
Other   —    25,393    248    25,641 
Total  $1,146,612   $2,633,540   $114,295   $3,894,447 

 

   Drones   Sensors   SaaS   Total 
Three Months Ended March 31, 2023                    
North America  $599,491   $450,552   $120,432   $1,170,475 
Latin America   572,006    93,081    —    665,087 
Europe, Middle East and Africa   738,956    956,172    —    1,695,128 
Asia Pacific   55,989    451,408    —    507,397 
Other   —    18,982    —    18,982 
Total  $1,966,442   $1,970,195   $120,432   $4,057,069 

 

 

AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE THREE MONTHS ENDED MARCH 31, 2024 AND 2023

(UNAUDITED)