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AgEagle Aerial Systems (UAVS) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 14, 2026 · AgEagle Aerial Systems (UAVS) Q2 2026 earnings results →

Q2 2026 Revenue down 36% year over year to $2.7M · 573¢ of every $1 of revenue lost · operating margin -208.7%

AgEagle Aerial Systems made $2.7M in Q2 2026 (-36% Y/Y). Operating margin -208.7%, net loss $15.4M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 14, 2026.

Revenue$2.7M
Year over year-36%
Operating margin-208.7%
Net earnings−$15.4M
Operating cash flow−$6.0M

Drawing the Sankey…

Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF

What changed this quarter

Revenue was $2.7M in Q2 2026, down 36% year over year and up 92% from the previous quarter.

Gross margin was 50.6%, down 5.1 points from Q2 2025. Operating costs exceeded revenue by $5.6M, an operating margin of -208.7%. Operating expenses grew 58% against a revenue fall of 36%. The fastest-growing cost line was Research & development (+145%). The quarter ended with a net loss of $15.4M, after a profit of $1.4M the previous quarter. Net interest and other expense of $9.8M was the main reason.

Operating cash flow was −$6.0M. Non-cash charges added back $76K of depreciation and amortization and $138K of share-based compensation. Working capital and other items added $9.2M. Capital expenditures of $198K exceeded it, leaving free cash flow of −$6.2M.

Quarterly history

AgEagle Aerial Systems revenue by quarterAgEagle Aerial Systems revenue by quarter$2.8MQ4 2024$3.6MQ1 2025$4.2MQ2 2025$2.0MQ3 2025$3.0MQ4 2025$1.4MQ1 2026$2.7MQ2 2026
AgEagle Aerial Systems net earnings by quarterAgEagle Aerial Systems net earnings by quarter−$22.3MQ4 2024$7.1MQ1 2025−$1.3MQ2 2025−$2.6MQ3 2025−$8.4MQ4 2025$1.4MQ1 2026−$15.4MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 14, 2026$2.7M-36%-208.7%−$15.4M−$6.0M
Q1 202610-QMay 15, 2026$1.4M-62%-363.8%$1.4M−$2.4M
Q4 202510-KMar 31, 2026$3.0M+6%-284.1%−$8.4M−$2.6M
Q3 202510-QNov 14, 2025$2.0M-40%-160.1%−$2.6M−$3.3M
Q2 202510-QAug 14, 2025$4.2M+24%-49.3%−$1.3M−$2.7M
Q1 202510-QMay 15, 2025$3.6M-6%-27.5%$7.1M−$1.3M
Q4 202410-KMar 31, 2025$2.8M-4%-207.0%−$22.3M−$2.5M

Charts

AgEagle Aerial Systems: revenue growth, year over year and quarter over quarterAgEagle Aerial Systems: revenue growth, year over year and quarter over quarterY/YQ/Q-4%Q4 2024-6%+29%Q1 2025+24%+15%Q2 2025-40%-53%Q3 2025+6%+52%Q4 2025-62%-53%Q1 2026-36%+92%Q2 2026
Latest (Q2 2026): Y/Y -36%, Q/Q +92%.
AgEagle Aerial Systems: where the cash came from (+) and went (−), TTM to Q2 2026AgEagle Aerial Systems: where the cash came from (+) and went (−), TTM to Q2 2026Other financing$38.2MOperating cash flow−$14.3MOther investing−$13.1MCash drawn (+) / kept (−)−$10.4MCapital spending−$606KExchange rates$166K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
AgEagle Aerial Systems: profit against cash, quarter by quarterAgEagle Aerial Systems: profit against cash, quarter by quarterNet incomeOperating cash flow−$3.5M−$1.1MQ3 2024−$22.3M−$2.5MQ4 2024$7.1M−$1.3MQ1 2025−$1.3M−$2.7MQ2 2025−$2.6M−$3.3MQ3 2025−$8.4M−$2.6MQ4 2025$1.4M−$2.4MQ1 2026−$15.4M−$6.0MQ2 2026
Latest (Q2 2026): Net income −$15.4M, Operating cash flow −$6.0M.
AgEagle Aerial Systems: diluted shares by fiscal yearAgEagle Aerial Systems: diluted shares by fiscal year41MFY20204MFY20225MFY20231MFY2024
-97.2% since FY2020: buybacks shrank the count.
AgEagle Aerial Systems in its industry: growth against margin (9 companies, SIC 3721)AgEagle Aerial Systems in its industry: growth against margin (9 companies, SIC 3721)revenue growth, year over year →↑ operating marginmedian +6%median -100%BAAVAVAVEXJOBYAIROBETADUKRMTTNUAVS (-36%, -100%)
Aircraft; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

The same charts as the app — open one to draw it.

💵Where each $1 goesinteractive

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🌏Named in Asian annual reportsinteractive

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🔄Rotation against the market and its industry (RRG)interactive

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🔍Earnings qualityinteractive

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⚖️Fair value by methodinteractive

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🔭Outlook & guidanceinteractive

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📈Investments: gains and what it boughtinteractive

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🏭Its industry’s money flow (input-output)interactive

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About AgEagle Aerial Systems

AgEagle™ Aerial Systems Inc. (“AgEagle” or the “Company”, "EagleNXT",“we”, “our” or “us”), through its wholly owned subsidiaries, is actively engaged in designing and delivering best-in-class drones, sensors and software that solve important problems for our customers. Founded in 2010, AgEagle was originally formed to pioneer proprietary, professional-grade, fixed-winged drones and aerial imagery-based data collection and analytics solutions for the agriculture industry. Today, the Company is earning distinction as a globally respected market leader offering customer-centric, advanced, autonomous uncrewed aerial systems (“UAS”) which drive revenue at the intersection of flight hardware, sensors and software for industries that include military/defense, public safety, surveying/mapping, agriculture, and utilities/engineering, among others.

In its own words, from its 10-K, filed Mar 31, 2026.

AgEagle Aerial Systems against its Aircraft peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -36% against the peers' median +76%. Operating margin: -208.7% against the peers' median -208.7%.

CompanyQuarterRevenueY/YOp. margin
UAVS AgEagle Aerial SystemsQ2 2026$2.7M-36%-208.7%
BA BoeingQ3 2026$24.2B+4%1.5%
AVAV AeroVironmentQ1 FY27$480M+6%-2.3%
AVEX AevexQ2 2026$202M+100%7.6%
JOBY Joby AviationQ3 2026$55.1M+144%-504.8%
AIRO Airo Group HoldingsQ2 2026$43.2M+76%3.8%
BETA Beta TechnologiesQ3 2026$17.7M+98%-723.2%
ACHR Archer AviationQ2 2026$5.0M—n/m
DUKR Duke RoboticsQ2 2026$149K+4%-622.8%

Source: AgEagle Aerial Systems 10-Q on SEC EDGAR · CIK 8504 · Aircraft

13F: who owns UAVS and who is buying

Largest holders of UAVS (13F)Largest holders of UAVS (13F)Vanguard Capital Management LLC$2.2MVanguard Group$1.4MUBS Group AG$561KBlackRock$519KGeode Capital Management, LLC$511KVanguard Fiduciary Trust$308KCalamos Wealth Management LLC$288KState Street$187KKingsbury Capital Investment Advi…$166KNorthern Trust$118K
Funds' net buying of UAVS by quarter (13F)Funds' net buying of UAVS by quarter (13F)$11K2024-12−$26K2025-03$738K2025-06$3.0M2025-09$686K2025-12$1.1M2026-03$1.3M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on UAVS

History

Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results

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