Ageagle Aerial Systems Inc (UAVS) 2023 Q1 法說會逐字稿

Good day, everyone, and thank you for logging into AgEagle's corporate update webcast. Joining us from AgEagle is Chief Executive Officer and Chairman of the Board, Barrett Mooney.

大家好，感謝您收聽 AgEagle 的公司動態網路直播。 AgEagle 的執行長兼董事會主席 Barrett Mooney 將與我們一起分享。

Before I turn it over to Barrett, I would like to remind you that during today's call, including the question-and-answer session, statements that are not historical facts, including any projections, statements regarding future events or future financial performance or statements of intents or beliefs are forward-looking statements and are covered by the Safe Harbor disclaimers contained in the company's public filings with the SEC. Actual outcome and results may differ materially from what is expressed in or implied by these forward-looking statements.

在將發言權交給巴雷特之前，我想提醒大家，在今天的電話會議（包括問答環節）中，非歷史事實的陳述，包括任何預測、關於未來事件或未來財務業績的陳述，以及意向或信念的陳述，均屬於前瞻性陳述，並受公司向美國證券交易委員會提交的公開文件中的安全港免責聲明的約束。實際結果可能與這些前瞻性陳述中明示或暗示的內容有重大差異。

With that said, I would now like to introduce AgEagle's CEO, Barrett Mooney. Barrett, the floor is yours.

好了，現在我想介紹一下AgEagle的執行長巴雷特·穆尼。巴雷特，請你發言。

Thank you, Kat, and good afternoon, everyone. Since we just hosted our year-end call early last month, for today's call, I'll be keeping this brief. In the first quarter, we remain committed to continue building a robust foundation across our core business units. We dedicated our efforts to optimizing and streamlining our cost structure, and what I mean by that is reducing our burn while growing our top line.

謝謝凱特，大家下午好。由於我們上個月初剛舉行了年終電話會議，所以今天的電話會議我會簡短地介紹一下。第一季度，我們將繼續致力於在核心業務部門建立堅實的基礎。我們致力於優化和精簡成本結構，我的意思是，在增加營收的同時，減少資金消耗。

On our last call, I outlined our priority to deliberately pursue profitable growth, and we've made significant progress towards that goal.

在我們上次電話會議上，我概述了我們刻意追求獲利成長的優先事項，並且我們在實現這一目標方面已經取得了重大進展。

During the quarter, we generated a total revenue of $4.1 million, marking a 5.6% increase from $3.8 million in the first quarter of 2022, while significantly reducing our cash burn compared to the same quarter a year ago. The increase in our top-line performance was driven predominantly by strong demand for our sensors during the quarter.

本季度，我們的總營收為410萬美元，較2022年第一季的380萬美元成長5.6%，同時與去年同期相比，我們的現金消耗大幅減少。本季我們營收的成長主要得益於市場對感測器的強勁需求。

Over the past several quarters, we've been working diligently to improve our supply chain. With this in mind, we established a network of vendors that enable us to simplify our structure and facilitate a more efficient procurement process.

過去幾個季度，我們一直在努力改善供應鏈。為此，我們建立了供應商網絡，從而簡化了組織架構，並促進了更有效率的採購流程。

The progress we've made in streamlining our supply chain has culminated in tangible results and has helped us improve our gross margin by over 1,300 basis points in the first quarter to 48.8%, a significant jump from 35.5% in the same period last year.

我們在精簡供應鏈方面所取得的進展已取得切實成果，並幫助我們在第一季將毛利率提高了 1,300 多個基點，達到 48.8%，較去年同期的 35.5% 有大幅增長。

And looking deeper at our profitability metrics, our loss from operations totaled $4.2 million during the quarter compared to a loss of $7.5 million in the first quarter of 2022. The improvement in our operating loss was largely due to the progress we've made in aligning and co-locating our business units into a more geographically concentrated footprint and the reduction or elimination of redundant expenses.

深入研究我們的獲利指標，本季我們的營業虧損總計 420 萬美元，而 2022 年第一季的虧損為 750 萬美元。我們的營業虧損有所改善，主要是因為我們在調整和整合業務部門到更集中的地理位置以及減少或消除冗餘開支方面取得了進展。

While there is still much work to be done, it is clear that we are making steady progress in reaching cash flow breakeven while simultaneously generating top-line growth. One of the keys to our long-term success will continue to be the momentum and expansion of our highly effective value-added reseller network.

雖然還有很多工作要做，但顯而易見的是，我們在實現現金流損益平衡的同時，正在穩步推進營收成長。我們長期成功的關鍵之一，仍將是我們高效的增值經銷商網路的持續發展和擴張。

As I mentioned on our prior call, we have a very strong network of trusted resellers who work diligently to drive sales in their respective territories, leveraging location-based expertise to collaborate with customers on a case-by-case basis. Currently, our network consists of more than 200 value-added resellers, 40 AgEagle and expansive collective presence, and a vast array of geographies worldwide.

正如我在上次電話會議上提到的，我們擁有一個非常強大的值得信賴的經銷商網絡，他們勤奮工作，在各自的區域推動銷售，並利用基於位置的專業知識與客戶進行具體案例合作。目前，我們的網路由200多家加值經銷商、40家AgEagle和廣泛的合作網絡組成，業務遍布全球。

With much of our integration efforts nearly complete and a talented team of resellers in place to capitalize on both large and small sales, we have a healthy foundation to propel us towards our long-term objectives. We have the means to not only scale our presence and drive top-line growth, but to do so while spending a lot less cash.

我們的大部分整合工作已接近尾聲，一支優秀的經銷商團隊也已到位，能夠充分利用大小銷售機會，這為我們邁向長期目標奠定了堅實的基礎。我們不僅有能力擴大業務規模、推動營收成長，還能以更少的現金支出實現這一目標。

During the quarter, our Board of Directors authorized the company to issue up to 25 million of preferred stock to support our future operations and growth strategy. I want to stress that we currently view our ongoing need for additional capital as decreasing. As we continue to march towards cash flow breakeven, we will be less reliant on raising outside capital.

本季度，董事會授權公司發行最多2500萬股優先股，以支持我們未來的營運和成長策略。我想強調的是，我們目前認為對額外資本的持續需求正在減少。隨著我們繼續努力實現現金流損益平衡，我們將減少對外部融資的依賴。

As you can see from our performance over the last several quarters, we are moving in the right direction, both financially and operationally. We built a solid foundation, grounded in sound fundamentals, but we are continuing to improve.

從我們過去幾季的表現可以看出，無論在財務還是營運方面，我們都朝著正確的方向前進。我們建立了堅實的基礎，以穩健的基本面為基礎，但我們仍在持續改進。

Now I want to dive into our segment results during the quarter, starting with our drones. While last year was focused heavily on securing regulatory approvals and expanding our eBee lineup through our consistent innovation, we started this year with a solid fixed-wing drone lineup ready to push into the market.

現在，我想深入介紹本季我們各部門的業績，首先是無人機業務。去年，我們主要致力於獲得監管部門的批准，並透過持續創新來擴展 eBee 產品線，而今年，我們則以穩健的固定翼無人機產品線開啟了新的篇章，準備將產品推向市場。

Upon releasing our latest product innovation, the eBee VISION drone, in the latter part of the fourth quarter, we began to see strong initial demand for the new UAV. During the quarter, we successfully delivered several of the eBee VISION drones to three separate branches of European military forces.

我們最新的創新產品 eBee VISION 無人機在第四季度後半段發布後，開始受到市場強勁的追捧。本季度，我們已成功向歐洲三個不同軍種交付了多架 eBee VISION 無人機。

According to the European officials, the eBee VISION successfully filled the gap between the low-endurance quadcopters and the larger military fixed-wing drones, making it a valuable addition to their technology stack.

歐洲官員表示，eBee VISION 成功填補了低續航四軸飛行器和大型軍用固定翼無人機之間的空白，成為其技術堆疊的寶貴補充。

Looking at our results for the segment, we generated drone sales of $2 million, which compares to $2.7 million in the first quarter of 2022. The decline in our year-over-year drone sales was largely due to the decrease in sales from our older eBee series drones like the X and the AgGeo outside of the eBee VISION.

從該部門的業績來看，我們的無人機銷售額為 200 萬美元，而 2022 年第一季的銷售額為 270 萬美元。我們無人機銷售額較去年同期下降的主要原因是 eBee VISION 以外的舊 eBee 系列無人機（如 X 和 AgGeo）的銷售下降。

As we put our focus on eBee VISION going forward, we expect sales in this segment to rebound in future quarters, getting a comprehensive market initiative involving on-site demos with government and military agencies across Europe and the US, coupled with active sales support of our reseller network.

隨著我們未來將重點放在 eBee VISION 上，我們預計該領域的銷售額將在未來幾個季度反彈，並獲得全面的市場計劃，包括與歐洲和美國的政府和軍事機構進行現場演示，加上我們經銷商網路的積極銷售支援。

Our sensor segment, on the other hand, doubled in sales to $2 million in revenue during the quarter compared to $933,000 in the first quarter of last year. The year-over-year increase in sensor sales was primarily driven by growing demand for our RedEdge-P and Altum-PT panchromatic sensors as well as our newest addition to our sensor lineup, for RedEdge-P Blue, which we announced this morning.

另一方面，我們的感測器部門本季銷售額翻了一番，達到200萬美元，而去年第一季為93.3萬美元。感測器銷售額年增率主要得益於市場對RedEdge-P和Altum-PT全色感測器的需求成長，以及我們今天上午宣布的最新產品RedEdge-P Blue。

Our sensor segment was a high performer for us in Q1, and we expect continued demand in coming quarters. As we focus on building our commercial presence within our sensor segment, we're working hard to enhance our value proposition. Despite working through a significant amount of backlog during the quarter, demand for our sensors remains high, and we will continue to look for ways to capitalize on this trend.

我們的感測器業務在第一季表現優異，預計未來幾季需求將持續成長。我們專注於在感測器領域建立商業影響力，並努力提升我們的價值主張。儘管本季處理了大量積壓訂單，但市場對感測器的需求依然旺盛，我們將繼續探索如何利用這一趨勢。

In recent quarters, our high-end sensors have gained significant recognition for their superior quality and advanced capabilities. Our efforts to establish ourselves as the premier distributor to businesses across a wide range of industries have yielded impressive results, particularly in the agriculture sector.

最近幾個季度，我們的高階感測器憑藉著卓越的品質和先進的功能獲得了廣泛認可。我們致力於成為各行各業的領先經銷商，並取得了令人矚目的成果，尤其是在農業領域。

Subsequent to the end of the quarter, we signed a two-year supply agreement with Wingtra. Under this agreement, we'll be supplying our RedEdge-P sensor kits for integration with their WingtraOne vertical takeoff and landing drones.

本季結束後，我們與Wingtra簽署了一份為期兩年的供應協議。根據該協議，我們將提供RedEdge-P感測器套件，用於與WingtraOne垂直起降無人機整合。

Wingtra plans to utilize the MicaSense-outfitted drones to generate plant-level detail and high-precision resolution for commercial agriculture, forestry, environmental research, and water management use case. This is an exciting development as the contract represents approximately $2 million in revenue over the next two years.

Wingtra 計劃利用配備 MicaSense 的無人機生成植物級細節和高精度分辨率，用於商業農業、林業、環境研究和水資源管理用例。這是一個令人興奮的進展，因為該合約在未來兩年內將帶來約 200 萬美元的收入。

Furthermore, this collaboration supports our belief that the adoption of UAS on a global scale will only be possible if drone solution providers work together to deliver technologies and capabilities that benefit commercial drone operations.

此外，此次合作也支持了我們的信念：只有無人機解決方案提供者共同努力，提供有利於商業無人機運作的技術和能力，才能在全球範圍內採用 UAS。

Moving on to software, during the quarter, subscription sales of HempOverview and Ground Control totaled $121,000 compared to $170,000 in the first quarter of 2022. While software still represents a small portion of our revenue, we continue to make progress in expanding our software value proposition with innovation and key partner integrations.

說到軟體，本季度，HempOverview 和 Ground Control 的訂閱銷售額總計 121,000 美元，而 2022 年第一季為 170,000 美元。雖然軟體仍然只占我們收入的一小部分，但我們透過創新和關鍵合作夥伴整合，在擴展軟體價值主張方面繼續取得進展。

Following the end of the quarter, we announced the launch of a new ground control feature, Field Check. This new innovation feature enables users to verify the exposure, overlap, and sharpness of the aerial images immediately following a flight, ensuring accurate data collection.

本季結束後，我們宣布推出一項新的地面控制功能—Field Check。這項創新功能使用戶能夠在飛行後立即驗證空拍影像的曝光度、重疊度和清晰度，從而確保資料擷取的準確性。

In situations where the flight and data collection parameters fell short of expectations, our software automatically generates a new flight plan to gather the missing or problematic images most efficiently.

當飛行和資料收集參數未達到預期時，我們的軟體會自動產生新的飛行計劃，以最有效地收集缺失或有問題的影像。

Moreover, our Ground Control software has gained traction and interest across various markets, thanks to a seamless integration with our sensor group and the growing support for drone flight logging. This increased market opportunity allows us to expand our offerings and provide even better experience for our customers.

此外，由於與感測器組的無縫整合以及對無人機飛行記錄日益增長的支持，我們的地面控制軟體已在各個市場獲得了廣泛關注和青睞。這一成長的市場機會使我們能夠擴展產品線，為客戶提供更佳體驗。

Increasingly, we won a federal contract with the US Department of Defense's Defense Innovation Unit to deliver our eBee VISION drones at DoD and support their software development and integration efforts to securely connect and bridge the eBee VISION with specific government networks.

我們越來越多地贏得與美國國防部國防創新部門的聯邦合同，向國防部提供我們的 eBee VISION 無人機，並支持他們的軟體開發和整合工作，以便將 eBee VISION 與特定的政府網絡進行安全連接和橋接。

This custom software paid for by the DIU will be compatible and in full compliance with the DoD robotic and autonomous systems air interoperability profile, demonstrating our ability to develop highly innovative solutions that meet the needs of our customers.

這款由 DIU 出資的客製化軟體將與國防部機器人和自主系統空中互通性配置檔案相容並完全符合其要求，展示了我們開發滿足客戶需求的高度創新解決方案的能力。

With this agreement, we secured an upfront payment for the development of the custom command-and-control software and the right to sell the eBee VISION drones within the US Department of Defense going forward.

透過該協議，我們獲得了開發客製化指揮和控制軟體的預付款以及未來在美國國防部內銷售 eBee VISION 無人機的權利。

Adding to the inroads we've made with the civil and government agencies, we were recently awarded a five-year multiple award schedule contract by the US General Services Administration, which is the centralized procurement arm of the federal government. This contract marks yet another example of our deepened penetration in the government sector.

繼我們在民用和政府機構領域取得的進展後，我們最近又獲得了美國總務管理局（聯邦政府的集中採購機構）的一份為期五年的多重獎勵合約。這份合約再次印證了我們進一步深入政府領域的決心。

Upon making this deal, we also decided to take the next step in solidifying our presence in this space by recruiting a Director of Government Sales. That said, we look forward to growing our presence as a critical partner for civil and government applications by providing the industry's most innovative UAS solutions.

達成這項協議後，我們也決定進一步鞏固我們在該領域的地位，招募一位政府銷售總監。我們期待透過提供業界最具創新性的無人機系統解決方案，進一步提升我們作為民用和政府應用領域重要合作夥伴的地位。

We continue to believe that our participation in government-related contracts will play a meaningful role in our overall growth strategy, which includes selling our full-stack set of drone solutions through an expansive network of highly trusted value-added resellers.

我們仍然相信，我們參與的政府相關合約將在我們的整體成長策略中發揮重要作用，其中包括透過廣泛的高度信任的增值經銷商網路銷售我們的全套無人機解決方案。

Overall, our focus during the quarter was to continue to build a strong foundation and further optimize our cost structure while pursuing attractive opportunities for growth that put us on a path toward cash flow breakeven.

總體而言，本季我們的重點是繼續建立強大的基礎並進一步優化我們的成本結構，同時尋求有吸引力的成長機會，使我們走上現金流收支平衡的道路。

We continue to maintain strict financial discipline and have already achieved a reduction in our operating costs. We expect to continue seeing the results of this effort flow through to our bottom line in the coming quarters.

我們持續嚴格遵守財務紀律，並已成功降低營運成本。我們預計這些努力的成果將在未來幾季持續轉化為我們的獲利。

As reflected in our results and my comments here today, we are moving in the right direction, both financially and operationally by cutting costs, growing our top line, and streamlining our business units for better efficiency.

正如我們的業績和我今天在這裡發表的評論所反映的那樣，透過削減成本、增加收入、精簡業務部門以提高效率，我們在財務和營運方面都朝著正確的方向前進。

Even amidst the challenges of the current macroeconomic environment, we remain confident that our growth plan will lead AgEagle to long-term success. We will continue to remain cost discipline as we steadily expand the AgEagle brand and continue on a path towards profitability and maximize value to our shareholders over the long term.

即使面臨當前宏觀經濟環境的挑戰，我們仍然堅信我們的成長計畫將引領 AgEagle 取得長期成功。我們將繼續嚴格控製成本，穩步拓展 AgEagle 品牌，並繼續朝著獲利目標邁進，實現股東價值的長期最大化。

We are pleased to have the opportunity to showcase the vision and progress of our company on this webcast. We would like to express our appreciation to all of our stakeholders for their support, and we continue to thank you for joining us today. So with that, operator, back to you.

我們很高興有機會在本次網路直播中展示公司的願景和發展。我們衷心感謝所有利害關係人的支持，也非常感謝大家今天的參與。好了，接線生，接下來請大家收看。

Thank you. This does conclude today's teleconference. We thank you for your participation. You may disconnect your lines at this time, and have a wonderful day.

謝謝。今天的電話會議到此結束。感謝您的參與。現在您可以掛斷電話了，祝您擁有美好的一天。