AgEagle Aerial Systems UAVS

NYSE · Aircraft · $22M

$0.31−10.40%Nov 5 close · Databento

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UAVS Wire Story Reactions & EOD Technical StudyDaily closes (Databento EOD) pinned with every AlgoThesis Wire story (dot colour = next trading day close) and SEC filing

Nov 5, 2026CLOSE $0.311D −10.40%3M −69.30%SMA20 $0.59SMA50 $0.83RSI(14) 13.4

0.31

RSI (14, Wilder EOD) · 70 Overbought / 30 OversoldRSI 13.4

Data provided by Databento (end of day). Next close = the first close after a story against the close before it; official daily closes only, not a call, not advice.

The numbers

fiscal 2025, as filed with the SEC · 66-metric EOD snapshot via Databento

Market cap$22M

Enterprise value$23.1M

Revenue$12.8M −4.3%

True FCF (ex-SBC)$-10.5M −51.5%

Rule of 40-82.6%

ROIC-39.8%

True FCF Yield-48.0%

EPS, diluted$-46.24 +91.0%

Modern Valuation (EOD)

Market Cap$22M

Enterprise Value$23.1M

EV / True FCF—

EV / FCF—

EV / Gross Profit3.47

EV / EBIT—

EV / Sales1.80

P / E (GAAP)—

P / FCF—

P / Oper. CF—

P / Book0.61

Owner & Cash Yields

True FCF Yield-48.0%

FCF Yield-46.1%

Owner Earn. Yield-22.8%

Earnings Yield-24.3%

Shareholder Yield+1.6%

Buyback Yield0.0%

Dividend Yield—

Dividend / sh—

Payout Ratio-14%

FCF / sh$-0.16

EPS (diluted)$-46.24

Compounder & Returns

Rule of 40-82.6%

ROIC-39.8%

Cash ROIC (CROIC)-27.1%

GP / Assets15.7%

ROE-14.8%

ROA-12.5%

Gross Margin51.8%

Oper. Margin-115.0%

Net Margin-41.2%

FCF Margin-78.3%

True FCF Margin-81.6%

Quality & Dilution

Cash Conversion—

Accrual Ratio+11.1%

SBC % of FCF—

SBC % of Rev3.3%

Reinvest. Rate—

Sales Growth Y/Y−4.3%

Sales 3Y CAGR−12.5%

EPS Growth Y/Y+91.0%

FCF Growth Y/Y−51.5%

FCF 3Y CAGR—

Share Change Y/Y+986.2%

Balance Sheet & Scale

Revenue (FY)$12.8M

Gross Profit (FY)$6.6M

Oper. Income (FY)$-14.7M

GAAP Net Income$-5.3M

True FCF (ex-SBC)$-10.5M

Cash & Equiv$3.8M

Total Debt$5.1M

Net Cash (Debt)$-1.3M

Net Cash % MCap−6.0%

Debt / FCF (yrs)—

Current Ratio7.9262.91M sh

Price & Technicals (EOD)

Perf Week−42.85%

Perf Month−64.04%

Perf Quarter−66.30%

Perf Half Y−73.50%

Perf YTD−73.94%

SMA 20 Dist−47.87%$0.59

SMA 50 Dist−62.79%$0.83

SMA 100 Dist−63.09%$0.84

Window High−74.37%$1.21

Window Low0.00%$0.31

RSI (14) · Vol13.499%v

Income Distribution & Cash Flow ConversionHow every dollar of UAVS revenue flows through cost of goods, operating expenses, taxes, GAAP net income, and dilution-adjusted free cash flow

Where Every $100 of Revenue Goes (FY2025)

Cost of Revenue (COGS)$6.2M ($48.2 / $100)

R&D Reinvestment$3.6M ($28.2 / $100)

Operating Expenses$17.8M ($100.0 / $100)

Tax & Non-Operating$0 ($0.0 / $100)

Net Profit Kept$-5.3M ($0.0 / $100)

Earnings Quality: GAAP Profit → True Owner Cash (FY2025)

GAAP Net Income$-5.3M (-41.2% margin)

Operating Cash Flow (OCF)$-10.0M(-77.7% of rev)

Less: Capital Expenditures−$74,658(0.6% of rev)

Standard Free Cash Flow (FCF)$-10.0M(-78.3% margin)

Less: Stock-Based Comp (SBC)−$417,747

True FCF (Owner Cash ex-SBC)$-10.5M(-81.6% of rev)

Revenue by fiscal year

Operating leverage — margins

GrossOperatingNet

Line Item (USD)	FY2021	FY2022	FY2023	FY2024	FY2025	YoY Δ	4Y CAGR
Income Statement
Revenue	$9.8M	$19.1M	$13.7M	$13.4M	$12.8M	−4.3%	+7.0%
Cost of Revenue (COGS)	$5.5M	$10.9M	$8.3M	$7.1M	$6.2M	−13.1%	+2.9%
Gross Profit	$4.3M	$8.2M	$5.5M	$6.3M	$6.6M	+5.6%	+11.8%
Research & Development (R&D)	$4.1M	$8.1M	$5.5M	$4.0M	$3.6M	−9.0%	−3.0%
Total Operating Expenses	$34.5M	$72.5M	$44.6M	$18.9M	$21.4M	+12.9%	−11.3%
Operating Income (EBIT)	$-30.3M	$-64.3M	$-39.2M	$-12.6M	$-14.7M	−16.6%	—
Interest Expense	$7,852	$59,785	$326,945	$884,769	$9,593	−98.9%	+5.1%
Income Tax Expense	$0	$0	—	$0	$0	—	—
GAAP Net Income	$-30.1M	$-58.3M	$-42.4M	$-35.0M	$-5.3M	+84.9%	—
Diluted EPS	—	$-14.56	$-514.90	$-46.24	$-46.24	+0.0%	—
Diluted Shares	—	4.2M	105,592	1.1M	62.9M	+5384.5%	+147.1%
Balance Sheet
Cash & Equivalents	$14.6M	$4.3M	$819,024	$3.6M	$3.8M	+4.7%	−28.6%
Inventory	$4.0M	$6.7M	$6.9M	$5.5M	$5.7M	+3.4%	+8.8%
Total Current Assets	$23.0M	$14.5M	$10.5M	$10.9M	$39.5M	+261.1%	+14.5%
Total Assets	$104.7M	$54.2M	$25.2M	$20.6M	$42.2M	+105.2%	−20.3%
Total Current Liabilities	$17.1M	$5.4M	$11.0M	$7.9M	$5.0M	−36.7%	−26.5%
Total Debt (Short + Long Term)	$6.1M	$5.8M	$9.4M	$5.2M	$5.1M	−1.3%	−4.6%
Total Liabilities	$28.1M	$11.0M	$14.5M	$26.3M	$6.5M	−75.3%	−30.7%
Stockholders' Equity	$76.6M	$43.2M	$10.7M	$-5.7M	$35.7M	+722.4%	−17.3%
Net Cash / (Net Debt)	$8.5M	$-1.4M	$-8.6M	$-1.5M	$-1.3M	+15.3%	—
Invested Capital	$68.1M	$44.6M	$19.3M	$-4.2M	$37.0M	+980.9%	−14.1%
Cash Flow & Capital Allocation
Operating Cash Flow (OCF)	$-12.5M	$-19.8M	$-11.0M	$-6.6M	$-10.0M	−51.5%	—
Depreciation & Amortization (D&A)	$55,613	$3.9M	$3.8M	$1.1M	$809,731	−24.8%	+95.3%
Stock-Based Compensation (SBC)	$4.5M	$3.4M	$1.3M	$80,606	$417,747	+418.3%	−44.8%
Capital Expenditures (CapEx)	$525,312	$313,769	$215,357	$49,485	$74,658	+50.9%	−38.6%
Free Cash Flow (FCF)	$-13.0M	$-20.1M	$-11.2M	$-6.6M	$-10.0M	−51.5%	—
True FCF (ex-SBC Owner Cash)	$-17.5M	$-23.5M	$-12.5M	$-6.7M	$-10.5M	−55.9%	—
Share Repurchases (Buybacks)	—	—	—	—	$0	—	—
Dividends Paid	—	—	—	—	$757,992	—	—

Fundamentals, income distribution and multi-year statements from SEC EDGAR filings (public domain). Valuation multiples, performance and technicals computed from Databento 1D EOD closes. For information only, not investment advice.

On the Wire

what UAVS did at the next close after each story

No Wire story has named UAVS yet.

What happened · big days

23 big days in a year, and what we hold on each

A big day is a close more than 9.92% from the one before, three times UAVS’s median day (3.31%). On 3 of the 23, its peer group moved the same way at least half as far. We show what we hold. We never name a cause.

every other trading daya big day, numbered in the list below±9.92%Hover a bar for its day. Click a big day to open it.

Shaded: since our stories began, Jun 10. Tap a bar for its day.

#DayUAVSWhat we hold that dayGroup (median of 4) · each

1 Nov 6, 2025−22.94%
Before our storiesgroup −5.5%, did not move with it
1Nov 6, 2025−22.94%
Before our stories
−5.5% did not move with itACHR −7.2 · AVAV −6.4 · JOBY −4.5 · BA −0.6
2 Nov 21, 2025+11.32%
Before our storiesgroup +0.2%, did not move with it
2Nov 21, 2025+11.32%
Before our stories
+0.2% did not move with itACHR +4.5 · JOBY +0.2 · BA +0.2 · AVAV −0.5
3 Dec 1, 2025−10.61%
Before our storiesgroup −5.5%, moved with UAVS
3Dec 1, 2025−10.61%
Before our stories
−5.5% moved with UAVSAVAV −7.8 · JOBY −6.7 · ACHR −4.2 · BA −1.3
4 Dec 17, 2025−12.17%
Before our storiesgroup −3.5%, did not move with it
4Dec 17, 2025−12.17%
Before our stories
−3.5% did not move with itJOBY −6.2 · ACHR −4.7 · AVAV −2.4 · BA −0.2
5 Dec 19, 2025+15.30%
Before our storiesgroup +3.6%, did not move with it
5Dec 19, 2025+15.30%
Before our stories
+3.6% did not move with itAVAV +5.3 · ACHR +4.3 · BA +2.8 · JOBY +2.7
6 Jan 2, 2026+51.14%
Before our storiesgroup +7.0%, did not move with it
6Jan 2, 2026+51.14%
Before our stories
+7.0% did not move with itJOBY +8.8 · ACHR +8.1 · AVAV +5.9 · BA +4.9
7 Jan 5, 2026+19.51%
Before our storiesgroup +8.5%, did not move with it
7Jan 5, 2026+19.51%
Before our stories
+8.5% did not move with itAVAV +16.1 · JOBY +11.7 · ACHR +5.3 · BA +0.2
8 Jan 7, 2026−14.89%
Before our storiesgroup −2.6%, did not move with it
8Jan 7, 2026−14.89%
Before our stories
−2.6% did not move with itJOBY −4.6 · ACHR −4.5 · BA −0.8 · AVAV +0.5
9 Jan 8, 2026+45.00%
Before our storiesgroup +1.6%, did not move with it
9Jan 8, 2026+45.00%
Before our stories
+1.6% did not move with itAVAV +8.3 · ACHR +3.4 · BA −0.3 · JOBY −1.9
10 Jan 13, 2026+11.39%
Before our storiesgroup −2.9%, did not move with it
10Jan 13, 2026+11.39%
Before our stories
−2.9% did not move with itBA +2.0 · AVAV −1.8 · JOBY −3.9 · ACHR −4.4
11 Jan 22, 2026+10.24%
Before our storiesgroup +1.1%, did not move with it
11Jan 22, 2026+10.24%
Before our stories
+1.1% did not move with itACHR +6.4 · JOBY +1.7 · BA +0.5 · AVAV −2.4
12 Feb 6, 2026+11.34%
Before our storiesgroup +9.9%, moved with UAVS
12Feb 6, 2026+11.34%
Before our stories
+9.9% moved with UAVSACHR +12.5 · JOBY +11.2 · AVAV +8.6 · BA +2.6
13 Mar 2, 2026+11.70%
Before our storiesgroup +1.5%, did not move with it
13Mar 2, 2026+11.70%
Before our stories
+1.5% did not move with itACHR +5.6 · JOBY +2.1 · BA +1.0 · AVAV −17.4
14 May 28, 2026+12.26%
Before our storiesgroup +5.5%, did not move with it
14May 28, 2026+12.26%
Before our stories
+5.5% did not move with itAVAV +18.3 · JOBY +7.1 · ACHR +4.0 · BA +2.0
15 Jun 5, 2026−11.24%
Before our storiesgroup −11.1%, moved with UAVS
15Jun 5, 2026−11.24%
Before our stories
−11.1% moved with UAVSJOBY −14.3 · ACHR −13.2 · AVAV −9.0 · BA −0.9
16 Aug 7, 2026+28.09%
Nothing on UAVSgroup +5.9%, did not move with it
16Aug 7, 2026+28.09%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
+5.9% did not move with itAVAV +9.1 · ACHR +6.9 · JOBY +5.0 · BA +1.0
17 Aug 13, 2026+13.06%
Nothing on UAVSgroup +1.7%, did not move with it
17Aug 13, 2026+13.06%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
+1.7% did not move with itACHR +10.8 · JOBY +3.8 · BA −0.4 · AVAV −2.3
18 Aug 17, 2026−15.60%
Resultsgroup −3.0%, did not move with it
18Aug 17, 2026−15.60%
ResultsFirst close after the Aug 14 results filing
−3.0% did not move with itAVAV −6.1 · ACHR −3.5 · BA −2.5 · JOBY −0.1
19 Aug 21, 2026+11.60%
Nothing on UAVSgroup −0.1%, did not move with it
19Aug 21, 2026+11.60%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
−0.1% did not move with itACHR +3.5 · AVAV +0.3 · BA −0.4 · JOBY −0.7
20 Oct 30, 2026−14.74%
Nothing on UAVSgroup −3.8%, did not move with it
20Oct 30, 2026−14.74%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
−3.8% did not move with itAVAV −6.5 · ACHR −4.1 · JOBY −3.5 · BA −0.6
21 Nov 2, 2026−14.48%
Nothing on UAVSgroup −1.3%, did not move with it
21Nov 2, 2026−14.48%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
−1.3% did not move with itAVAV −2.4 · JOBY −1.8 · ACHR −0.7 · BA +2.2
22 Nov 4, 2026−16.00%
Nothing on UAVSgroup +0.9%, did not move with it
22Nov 4, 2026−16.00%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
+0.9% did not move with itAVAV −8.3 · ACHR −0.2 · BA +2.1 · JOBY +4.1
23 Nov 5, 2026−10.40%
Nothing on UAVS
23Nov 5, 2026−10.40%
Nothing on UAVSNo UAVS story, brief or results filing in our record that day
No group that day

A story on the same day is not a cause, and a group move is not proof either. Group: the median of BA, AVAV, JOBY and ACHR that day, the largest companies in UAVS’s SEC industry; “moved with UAVS” means the same direction and at least half the size.

What’s next · results

Before the next report: what the first day after the last three did

Six trading days after each results filing (SEC 8-K, Item 2.02). Day 1 is the first close after each filing: the next day’s for a filing after the close, the same day’s otherwise. 2 of 3 times, day 6 ended on the same side as day 1.

Reported Nov 17, 2025

day 1−8.06%day 60.00%

Reported Mar 31, 2026

day 1+0.75%day 6+1.71%

Reported Aug 14, 2026

day 1−15.60%day 6−0.92%

Next report: expected mid NovemberEstimated from the dates of its last four results filings. Not announced. Since the Aug 14 report: −71.55%. Three reports is a small sample.

Every report since 2021 →

Each line is UAVS’s close against its close before the filing, on licensed end-of-day closes. What happened after each report, not a forecast; a move on the day is not a cause.

Same industry

UAVS against four aircraft peers, a year at 100

UAVS is down 77.0% in a year. Boeing is down 9.0%, Archer Aviation 49.6%, Joby Aviation 64.4% and AeroVironment 69.0%. All four did more. Weekly closes, Nov 7, 2025 = 100, on a log scale, so the same percentage move is the same height on every line.

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UAVS −77.0%. Boeing −9.0%, Archer Aviation −49.6%, Joby Aviation −64.4%, AeroVironment −69.0%. Weekly closes, Nov 7, 2025 = 100, log scale.

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End-of-day closes (Databento EOD), the last close of each week. The four peers are the largest US-listed companies by market value in UAVS’s SEC industry (Aircraft) with a year of closes. It shows what the closes did; a move here is not a cause, a forecast or a call.

The Wire at 7 AM ET, free. Top stories with a bull and a bear case on each, every morning. No account needed.

BA	Boeing	$139.9B	−2.54%
AVAV	AeroVironment	$5.7B	—
JOBY	Joby Aviation	$5.0B	—
ACHR	Archer Aviation	$3.2B	—
BETA	BETA Technologies	$1.9B	—
AIRO	AIRO Group	$171M	—
DUKR	DUKE Robotics	$11M	—