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Segment Information (Tables)
 9 Months Ended
Sep. 30, 2024
Segment Reporting [Abstract]  
Schedule of Goodwill and Assets

As of September 30, 2024 and December 31, 2023, and for the three and nine months ended September 30, 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 September 30, 2024                         
Goodwill  $—   $—   $7,402,644   $—   $7,402,644 
Assets  $644,089   $8,217,999   $13,131,603   $44,176   $22,037,867 
                          
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 
Schedule of Net (Loss) Income

 

   Corporate   Drones   Sensors   SaaS   Total 
Three Months Ended September 30, 2024                         
Revenues  $—   $2,146,151   $1,070,396   $68,437   $3,284,984 
Cost of sales   —    968,869    627,279    54,569    1,650,717 
Loss from operations   (681,253)   (723,903)   (186,215)   (269,789)   (1,861,160)
Other income (expense), net   (1,549,866)   (48,728)   —    —    (1,598,594)
Net loss  $(2,231,119)  $(772,631)  $(186,215)  $(269,789)  $(3,459,754)
                          
Three Months Ended September 30, 2023                         
Revenues  $—   $1,627,177   $1,755,712   $101,043   $3,483,932 
Cost of sales   —    990,413    990,457    288,988    2,269,858 
Income (loss) from operations   (3,229,837)   (2,288,870)   168,820    (640,226)   (5,990,113)
Other income (expense), net   (2,063,936)   35,322    (960)   (441)   (2,030,015)
Net income (loss)  $(5,293,773)  $(2,253,548)  $167,860   $(640,667)  $(8,020,128)

 

   Corporate   Drones   Sensors   SaaS   Total 
Nine Months Ended September 30, 2024                         
Revenues  $—   $4,644,177   $5,656,471   $271,321   $10,571,969 
Cost of sales   —    2,343,923    2,855,984    228,798    5,428,705 
Income (loss) from operations   (2,560,847)   (4,189,049)   974,697    (1,020,316)   (6,795,515)
Other income (expense), net   (5,859,141)   (36,408)   (13,985)   —    (5,909,534)
Net income (loss)  $(8,419,988)  $(4,225,457)  $960,712   $(1,020,316)  $(12,705,049)
                          
Nine Months Ended September 30, 2023                         
Revenues  $—   $4,861,260   $5,610,764   $347,189   $10,819,213 
Cost of sales   —    2,580,305    3,213,058    801,610    6,594,973 
Income (loss) from operations   (7,240,686)   (6,626,668)   328,404    (1,484,110)   (15,023,060)
Other expense, net   (2,559,654)   (326,032)   (960)   (504)   (2,887,150)
Net income (loss)  $(9,800,340)  $(6,952,700)  $327,444   $(1,484,614)  $(17,910,210)
Schedule of Geographical Revenues

 

   Drones   Sensors   SaaS   Total 
Three Months Ended September 30, 2024                    
North America  $338,685   $290,642   $68,437   $697,764 
Latin America   131,117    40,912    —    172,029 
Europe, Middle East and Africa   1,659,481    321,382    —    1,980,863 
Asia Pacific   16,868    367,896    —    384,764 
Other   —    49,564    —    49,564 
 Total  $2,146,151   $1,070,396   $68,437   $3,284,984 

 

   Drones   Sensors   SaaS   Total 
Three Months Ended September 30, 2023                    
North America  $547,012   $570,170   $57,447   $1,174,629 
Latin America   383,232    80,873    38,196    502,301 
Europe, Middle East and Africa   628,768    752,583    661    1,382,012 
Asia Pacific   68,165    342,502    4,739    415,406 
Other   —    9,584    —    9,584 
 Total  $1,627,177   $1,755,712   $101,043   $3,483,932 

 

 

AGEAGLE AERIAL SYSTEMS INC. AND SUBSIDIARIES

NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023

(UNAUDITED)

 

Note 11 – Segment Information-Continued

 

   Drones   Sensors   SaaS   Total 
Nine Months Ended September 30, 2024                    
North America  $1,308,109   $1,659,485   $262,678   $3,230,272 
Latin America   753,187    223,983    5,185    982,355 
Europe, Middle East and Africa   2,373,934    2,517,885    495    4,892,314 
Asia Pacific   208,947    1,087,910    2,468    1,299,325 
Other   —    167,208    495    167,703 
 Total  $4,644,177   $5,656,471   $271,321   $10,571,969 

 

   Drones   Sensors   SaaS   Total 
Nine Months Ended September 30, 2023                    
North America  $1,701,100   $1,783,481   $303,593   $3,788,174 
Latin America   1,256,429    221,334    38,197    1,515,960 
Europe, Middle East and Africa   1,714,967    2,611,108    661    4,326,736 
Asia Pacific   188,764    949,040    4,738    1,142,542 
Other   —    45,801    —    45,801 
 Total  $4,861,260   $5,610,764   $347,189   $10,819,213