XML 45 R26.htm IDEA: XBRL DOCUMENT v3.25.1
Segment Information
 12 Months Ended
Dec. 31, 2024
Segment Reporting [Abstract]  
Segment Information

Note 16 – Segment Information

 

Operating segments are defined as components of an entity for which separate financial information is available and that is regularly provided to the Chief Operating Decision Maker (CODM) in deciding how to allocate resources to an individual segment and in assessing performance. The Company’s Chief Executive Officer is the Company’s CODM. The CODM reviews financial information presented by operating segment in making operating decisions, allocating resources, and evaluating financial performance.

 

The Company conducts the business through the following three operating segments: Drones, Sensors and SaaS.

 

The accounting policies of the operating segments are the same as those described in Note 2. Non-allocated administrative and other expenses are reflected in Corporate. Corporate assets include cash, prepaid expenses, notes receivable, right of use asset and other assets.

 

As of December 31, 2024 and 2023 and for the years then ended, operating information about the Company’s reportable segments consisted of the following:

 

Goodwill and Assets

 

   Corporate   Drones   Sensors   SaaS   Total 
As of December 31, 2024                         
Goodwill  $—   $—   $4,459,644   $—   $4,459,644 
Assets  $3,804,628   $7,028,158   $9,744,152   $4,616   $20,581,554 
                          
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 CONSOLIDATED FINANCIAL STATEMENTS

FOR THE YEARS ENDED DECEMBER 31, 2024 AND 2023

 

Note 16 – Segment Information- Continued

 

Net (Loss) Income

 

   Corporate   Drones   Sensors   SaaS   Total 
Year ended December 31, 2024                         
Revenues  $—   $6,410,305   $6,663,196   $319,276   $13,392,777 
Cost of sales   —    3,288,665    3,534,296    281,180    7,104,141 
Compensation and related expenses   

457,324

    

5,643,297

    

1,325,552

    

827,418

    

8,253,591

 
Professional fees   

656,699

    

794,842

    

634,186

    

271,888

    

2,357,615

 
Other operating expenses   

2,701,359

    

1,946,947

    

451,447

    

270,046

    

5,369,799

 
Impairment charge   

—

    

—

    

2,943,000

    

—

    

2,943,000

 
Loss from operations  $(3,815,382)  $(5,263,446)  $(2,225,285)  $(1,331,256)  $(12,635,369)
Other income (expense), net   (22,331,474)   (60,841)   (13,989)   —    (22,406,304)
Net loss  $(26,146,856)  $(5,324,287)  $(2,239,274)  $(1,331,256)  $(35,041,673)
                          
Year ended December 31, 2023                         
Revenues  $—   $6,197,049   $7,100,419   $443,930   $13,741,398 
Cost of sales   —    3,770,886    3,439,350    1,067,922    8,278,158 
Compensation and related expenses   

687,487

    

7,292,243

    

2,438,643

    406,682    10,825,055 
Professional fees   

268,439

    

824,207

    479,912    

—

    1,572,558 
Other operating expenses   

6,473,857

    

3,597,527

    

373,887

    15,108    10,460,379 
Impairment charge   

—

    

—

    15,856,055    5,899,305    21,755,360 
Loss from operations  $(7,429,783)  $(9,287,814)  $(15,487,428)  $(6,945,087)  $(39,150,112)
Other income (expense), net   (2,060,844)   (211,698)   (998,580)   (503)   (3,271,625)
Net loss  $(9,490,627)  $(9,499,512)  $(16,486,008)  $(6,945,590)  $(42,421,737)

 

Other segment expenses are primarily comprised of software and IT related subscriptions, rent, insurance, listing fees to be public, and other general and administrative costs.

 

Revenues by Geographic Area

 

   Drones   Sensors   SaaS   Total 
Year ended December 31, 2024                    
North America  $1,806,630   $1,956,620   $310,633   $4,073,883 
Latin America   1,040,864    284,509    5,185    1,330,558 
Europe, Middle East and Africa   3,299,302    2,863,566    495    6,163,363 
Asia Pacific   263,509    1,367,301    2,468    1,633,278 
Other   —    191,200    495    191,695 
Total  $6,410,305   $6,663,196   $319,276   $13,392,777 
                     
Year ended December 31, 2023                    
North America  $2,169,983   $2,655,443   $407,490   $5,232,916 
Latin America   1,571,956    256,524    28,671    1,857,151 
Europe, Middle East and Africa   2,183,763    2,957,644    1,254    5,142,661 
Asia Pacific   271,347    1,117,485    6,515    1,395,347 
Other   —    113,323    —    113,323 
Total  $6,197,049   $7,100,419   $443,930   $13,741,398