EagleNXT renews reseller agreements across Asia Pacific region

WICHITA, Kan. - EagleNXT (NYSE:UAVS), a $71.47 million market cap drone technology company, announced Tuesday the renewal of reseller agreements with its top partners across the Asia Pacific region, expanding its distribution network in India, China, South Korea, and Australia. The company has shown strong momentum, with its stock surging 64% over the past six months, according to InvestingPro data.

The company, which provides drone and aerial imaging solutions, also reported sales of its recently announced RedEdge-P Green units to three major distributors in the region and the sale of two eBee TAC drone units to a customer in Thailand. With impressive gross profit margins of 52%, EagleNXT maintains strong pricing power in its market segments.

"Renewing these agreements with our top Asia Pacific resellers marks a pivotal step in our regional expansion strategy," said Bill Irby, CEO of EagleNXT, according to the company’s press release.

The renewals aim to strengthen EagleNXT’s presence in various markets, from urban agriculture in South Korea to farmlands in India and Australia. The company’s strategy focuses on serving sectors such as sustainable farming and resource management.

The Asia Pacific unmanned systems market for UAVs is projected to grow from $30.68 billion in 2025 to $57.63 billion by 2030, according to industry forecasts cited in the announcement. While the market outlook appears promising, InvestingPro analysis reveals 12+ additional insights about EagleNXT’s financial position and growth prospects.

EagleNXT, formerly known as AgEagle Aerial Systems Inc., develops drones, sensors, and software solutions for defense, public safety, agriculture, infrastructure, and environmental monitoring applications. The company states its drone systems have received FAA approvals for Operations Over People and Beyond Visual Line of Sight, as well as EASA C2 certification in Europe.

This information is based on a company press release statement. The stock currently trades near its InvestingPro Fair Value, suggesting balanced market pricing despite its recent volatility.

In other recent news, AgEagle Aerial Systems Inc., now known as EagleNXT, has renewed distributor agreements with key partners in Latin America, expanding its presence in the region. The company has extended partnerships with Geo Agri and Santiago & Cintra in Brazil, GESTECNER in Paraguay, and INNTAGRI and SYSMAP in Peru and Ecuador. Additionally, AgEagle has commenced international shipments of its new RedEdge-P Green camera to customers in South Korea, Taiwan, and India. This new camera, designed for precision agriculture, offers high-resolution multispectral imaging to aid farmers in making data-driven decisions. The company has also successfully integrated its MicaSense RedEdge-P multispectral camera with Ascent AeroSystems’ SPIRIT and SPARTAN drone platforms, enhancing its product offerings. In Colombia, mining company Drummond Ltd. has secured advanced drone operation certifications using AgEagle’s eBee X drone, allowing for expanded operations. These certifications include beyond visual line of sight flights, night operations, and multi-drone capabilities. These developments highlight AgEagle’s ongoing efforts to strengthen its global footprint and technological capabilities.

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