EagleNXT renews distributor agreements with key Latin American partners

WICHITA, Kan. - EagleNXT (NYSE:UAVS), formerly known as AgEagle Aerial Systems Inc., announced Thursday it has renewed distributor agreements with several key partners in Latin America, expanding its presence in the region. The company, with a market capitalization of $61.26 million and impressive gross profit margins of 52%, maintains a strong financial position with more cash than debt on its balance sheet, according to InvestingPro data.

The drone and aerial imaging solutions provider has extended partnerships with Geo Agri and Santiago & Cintra in Brazil, GESTECNER in Paraguay, and INNTAGRI and SYSMAP in Peru and Ecuador.

These renewals aim to strengthen the company’s distribution network for its drone systems and sensors across Latin America, where its technology is used in various applications including precision agriculture, mining safety, surveillance, public safety, infrastructure inspection and environmental monitoring.

"Our renewed agreements with these leading partners are a cornerstone of our growth strategy in Latin America," said Bill Irby, President and CEO of EagleNXT, according to the company’s press release.

EagleNXT’s product portfolio includes models such as the eBee VISION and eBee TAC, which are included on the Blue UAS Cleared List, meeting security and performance standards set by the U.S. Department of Defense.

The company reports that its platforms have conducted more than one million flights globally and its sensors are integrated on over 150 different drone models used in more than 100 research publications worldwide.

The stock has shown significant momentum with a 38% gain over the past six months, though it remains well below its 52-week high. EagleNXT recently rebranded from AgEagle Aerial Systems Inc. and is publicly traded on the New York Stock Exchange under the ticker symbol UAVS.

In other recent news, AgEagle Aerial Systems Inc. has announced the international shipment of its new RedEdge-P Green camera to customers in South Korea, Taiwan, and India. This development comes alongside the launch of the RedEdge-P Green multispectral camera, which is designed for precision agriculture applications. The camera offers high-resolution multispectral imaging to aid farmers in making informed decisions throughout the growing cycle. Additionally, AgEagle has successfully integrated its MicaSense RedEdge-P multispectral camera with Ascent AeroSystems’ SPIRIT and SPARTAN drone platforms, creating an all-weather vertical takeoff and landing solution. In another development, Drummond Ltd., a mining company, has secured advanced drone operation certifications in Colombia using AgEagle’s eBee X drone. These certifications from Colombia’s Civil Aeronautics Authority include beyond visual line of sight flights, night operations, and multi-drone capabilities. Furthermore, the U.S. Transportation Department proposed new rules to expand commercial drone operations beyond visual line of sight, which could significantly impact industries like farming and energy production. These developments highlight AgEagle’s ongoing efforts in advancing drone technology and expanding its market reach.

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