AgEagle Aerial Systems Soars 10.48% on Auditor Change

On July 11, 2025, AgEagle Aerial Systems experienced a significant surge in its stock price, rising by 10.48% in pre-market trading.

On July 2, 2025, AgEagle Aerial Systems Inc. announced a change in its independent registered public accounting firm. The company dismissed WithumSmith+Brown, P.C. and appointed Grassi & Co., CPAs, P.C. as its new auditor. This decision came after the identification of a material weakness in the company's internal controls related to the computation of net loss attributable to common stockholders, which resulted in an understatement of loss per share.

The dismissal of WithumSmith+Brown was not due to any disagreements on accounting principles or practices, financial statement disclosure, or auditing scope or procedure. However, the company had previously filed a 10-K/A on November 27, 2024, amending the Form 10-K for the year ended December 31, 2023, to correct the identified errors. The new auditor, Grassi & Co., will be responsible for auditing the company's consolidated financial statements for the year ending December 31, 2025.