AeroVironment (AVAV) investor relations material

Executive summary

• Achieved record fourth-quarter revenue of $642 million, up 30% year-over-year, and full-year revenue of $1.98 billion, up 17% year-over-year.

• Bookings reached $2.7 billion for FY26, with a book-to-bill ratio of 1.4 and a funded backlog of $1.2 billion.

• Completed the largest acquisition in company history, diversifying the portfolio and strengthening market position.

• Major contract wins in uncrewed aircraft, space, and cyber segments contributed to growth.

Financial highlights

• Q4 FY26 revenue: $641.6M; GAAP net income: $63.2M; adjusted EBITDA margin: 22%.

• FY26 revenue: $1.98B; GAAP net loss: ($265.1M); adjusted EBITDA: $286.1M (14% margin).

• Q4 non-GAAP EPS: $1.84; FY26 non-GAAP EPS: $3.31.

• Q4 gross margin driven by strong AxS sales; product revenue comprised 77% of Q4 revenue.

• Non-GAAP adjusted EBITDA for the quarter was $140.1 million, compared to $61.6 million in the prior year.

Outlook and guidance

• FY27 revenue guidance: $2.125B–$2.225B (10% YoY growth at midpoint).

• FY27 adjusted EBITDA guidance: $305M–$325M; adjusted diluted EPS: $3.02–$3.34.

• FY27 GAAP net income forecast: $8M–$24M; GAAP EPS: $0.16–$0.48.

• 69% revenue visibility for FY27 based on funded backlog and anticipated bookings.