Financial Data and Key Metrics Changes - Revenue for Q3 2024 reached $187 million, a nearly 40% increase compared to the same quarter last year [7][19] - Adjusted EBITDA for Q3 2024 was $29 million, representing a 21% increase from the previous year [24] - Net income for Q3 2024 was $13.9 million, a significant improvement from a net loss of $0.7 million in the same period last year [27] Business Line Data and Key Metrics Changes - Loitering Munition segment revenue more than doubled year-over-year to $58 million, driven by high demand and emerging programs [10][21] - Unmanned Systems segment revenue rose 23% year-over-year to approximately $113 million, with strong contributions from Puma and JUMP 20 systems [13][20] - MacCready Works segment revenue decreased slightly to $15.6 million, down 13% from the previous year, due to program delays [16][21] Market Data and Key Metrics Changes - Backlog increased by 12% year-over-year, reaching $463 million, despite some headwinds from the continuing resolution and foreign military sales process [8][29] - Product revenue accounted for 84% of total revenues, up from 68% in the same quarter last year, indicating a shift towards product sales [22] Company Strategy and Development Direction - The company is targeting multiple $1 billion programs and investing in upgrades to current platforms to meet evolving battlefield conditions [9] - AeroVironment is actively seeking inorganic opportunities to enhance its product portfolio while focusing on internal development [9] - The company remains optimistic about future growth, particularly in the Loitering Munition segment, and is preparing for increased manufacturing capacity [12][37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving double-digit revenue growth in fiscal year 2025, supported by strong demand for unmanned solutions [7][30] - The company is well-positioned to benefit from budget priorities in the U.S. and abroad, with a strong backlog and nearly 100% order visibility [30][31] - Management highlighted the importance of congressional budget approvals for future contracts and revenue stability [70] Other Important Information - The company recently won a $16 million contract from the U.S. Navy for advancements in video analytics and computer vision research [17] - The Ingenuity Mars Helicopter completed its mission with 72 flights, showcasing the company's capabilities in advanced technology [17] Q&A Session Summary Question: Can you provide more details on Switchblade capacity expansion? - Management confirmed significant increases in Switchblade production capacity and readiness to meet forecasted demand for the next two years [36][37] Question: What is the timing for the LASSO program? - Management indicated that the U.S. Army is expected to award contracts following budget approvals, likely in the summer [39] Question: How significant is the Raven program to current operations? - Management stated that the Raven program has been in sustainment mode and is not a primary revenue driver, with the Puma system being the main contributor [43][44] Question: What are the implications of recent working capital changes? - Management noted that working capital usage may fluctuate but is manageable due to strong backlog and revenue trends [46][70] Question: How dependent is fiscal 2025 growth on Ukraine funding? - Management indicated that fiscal 2025 growth is not heavily reliant on Ukraine funding, with strong demand expected from various sources [61]

AeroVironment (AVAV) reported $186.58 million in revenue for the quarter ended January 2024, representing a year-over-year increase of 38.8%. EPS of $0.63 for the same period compares to $0.33 a year ago.The reported revenue represents a surprise of +10.59% over the Zacks Consensus Estimate of $168.72 million. With the consensus EPS estimate being $0.32, the EPS surprise was +96.88%.While investors scrutinize revenue and earnings changes year-over-year and how they compare with Wall Street expectations to d ...

AeroVironment (AVAV) came out with quarterly earnings of $0.63 per share, beating the Zacks Consensus Estimate of $0.32 per share. This compares to earnings of $0.33 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 96.88%. A quarter ago, it was expected that this maker of unmanned aircrafts would post earnings of $0.67 per share when it actually produced earnings of $0.97, delivering a surprise of 44.78%.Over the last four quar ...

Third Quarter Fiscal Year 2024 Earnings Presentation March 4, 2024 Slide 1 | © 2024 AeroVironment, Inc. Safe Harbor Statement This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended January 27, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33261 AEROVIRONMENT, INC. (Exact name of registrant as specified in its charter) Delaware 95-2705790 (State or other ...

Financial Performance Projections - Net income for the fiscal year ending April 30, 2024 is projected to be between $51 million and $55 million, compared to a net loss of $176 million in the previous fiscal year[33] - Adjusted EBITDA (Non-GAAP) for the fiscal year ending April 30, 2024 is expected to be between $122 million and $127 million, up from $90 million in the previous fiscal year[33] Expense Projections - Depreciation and amortization expenses are projected to decrease significantly to $36 million in fiscal 2024, down from $100 million in fiscal 2023[33] - Stock-based compensation is expected to increase to $17 million in fiscal 2024, up from $11 million in the previous year[33] - Interest expense is projected to decrease to $5 million in fiscal 2024, down from $9 million in fiscal 2023[33] - Provision for income taxes is expected to be between $3 million and $4 million in fiscal 2024, compared to a benefit of $15 million in the previous fiscal year[33] - Acquisition-related expenses are expected to double to $2 million in fiscal 2024, compared to $1 million in the previous fiscal year[33] Impairment and Investments - The company incurred a goodwill impairment charge of $156 million in fiscal 2023, with no similar charge projected for fiscal 2024[33] - Equity method and equity securities investments activity is projected to increase to $7 million in fiscal 2024, up from $3 million in fiscal 2023[33] Non-GAAP Measures - The company emphasizes the importance of non-GAAP measures for evaluating long-term profitability trends and comparing performance with peers[35]

In its upcoming report, AeroVironment (AVAV) is predicted by Wall Street analysts to post quarterly earnings of $0.32 per share, reflecting a decline of 3% compared to the same period last year. Revenues are forecasted to be $168.72 million, representing a year-over-year increase of 25.5%.The consensus EPS estimate for the quarter has remained unchanged over the last 30 days. This represents how the covering analysts, as a whole, have reassessed their initial estimates during this timeframe.Before a company ...

Valuable mergers and acquisitions are projected to improve economies of scale for the aerospace-defense equipment stocks. However, persistent supply-chain issues may negatively impact the operating results of the aerospace-defense equipment stocks. Nevertheless, solid air passenger demand should benefit the industry players. Going ahead, revenue passenger kilometers (RPKs) are estimated to grow 9.8% in 2024 from the 2023 level. This, in turn, bolsters the growth prospects of aerospace-defense equipment stoc ...

ARLINGTON, Va.--(BUSINESS WIRE)--AeroVironment, Inc. (NASDAQ: AVAV) will issue financial results for the company's third quarter ended January 27 after the market closes on Monday, March 4. Management will host a conference call and live audio webcast to discuss the results at 4:30 p.m. Eastern Time. Hosting the call to review results for the third quarter will be Wahid Nawabi, AeroVironment’s chairman, president and chief executive officer; Kevin P. McDonnell, senior vice president and chief financial off ...

ARLINGTON, Va.--(BUSINESS WIRE)--AeroVironment’s PS2500 battery is now approved for use in the Puma™ 3 AE unmanned aircraft system (UAS). The optional PS2500 battery allows operators to achieve extended endurance of up to three hours of flight time. The increased endurance provides operators with greater mission flexibility and time on station across land and maritime operations. “The new PS2500 battery offers both new and current Puma customers the opportunity to dramatically expand the duration of thei ...