Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — J.P. Morgan Industrials Conference 2025
26 slides from Aerovironment's conference presentation, March 2025
Slide 1: The Defense Tech Sector
THE DEFENSE TECH SECTOR AEROVIRONMENT // MARCH 2025 JP MORGAN // INDUSTRIALS CONFERENCE Slide 1 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 2: Safe Harbor Statement
SECOND QUARTER FISCAL YEAR 2025 Safe Harbor Statement Certain words in this presentation may contain "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, f
Slide 3: Additional Information
Additional Information ADDITIONAL INFORMATION AND WHERE TO FIND IT This presentation references the proposed transaction between AeroVironment and BlueHalo. In connection with the proposed transaction, AeroVironment will file with the SEC a registration statement on Form S-4, which will include a pr
Slide 4: Corporate Snapshot
CORPORATE OVERVIEW Corporate Snapshot AVAV Arlington, VA 1971 ~1,450 NASDAQ HQ FOUNDED EMPLOYEES GLOBAL FOOTPRINT ▷ AVAV is a Leader in Defense Technology Solutions ▷ Delivering Solutions to the United States Military and it Allies for over 30 Years ▷ Strong Track of Growth ▷ AVAV announced an acqui
Slide 5: Strong Track Record of Revenue Growth
REVENUE Strong Track Record of Revenue Growth ($ Millions) $788 $716 $541 $446 $367 $395 +17% +8% +13% +21% +33% +10% 2020 2021 2022 2023 2024 2025* FISCAL YEAR ENDING APRIL 30 *FY25 Revenue Represents Mid-Point of Guidance Range Slide 5 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 6: Consistent EBITDA Growth – Targeting 20% of Revenue Longer Term
EBITDA Consistent EBITDA Growth – Targeting 20% of Revenue Longer Term (EBITDA $ Millions; % of Revenue) $128 $139 $90 $79 $65 $63 20% 18% 18% 18% 14% 17% 2020 2021 2022 2023 2024 2025* FISCAL YEAR ENDING APRIL 30 * FY25 EBITDA Represents Mid-Point of Guidance Range Slide 6 © 2025 AeroVironment, Inc
Slide 7: AV + BlueHalo = Unmatched Portfolio of Defense Tech Solutions
GROWTH STRATEGIES AV + BlueHalo = Unmatched Portfolio of Defense Tech Solutions AVAV announced acquisition of BlueHalo (BH) in November 2024 and it expected to close in calendar Q2 of 2025. Subject of AV Shareholder and regulatory approval. Loitering Munitions Space Technologies Advanced solutions,
Slide 8: AV + BlueHalo Combined Defense Tech Portfolio at-a-Glance
AV + BlueHalo Combined Defense Tech Portfolio at-a-Glance LOITERING MUNITIONS ADVANCED SOFTWARE SPACE TECHNOLOGIES DIRECTED ENERGY COUNTER UAS CYBER AND ELECTRONIC WARFARE Revenue* $2 Billion (1) Based upon pro-forma financials for the Adjusted EBITDA* $340 Million combined BlueHalo and AeroVironmen
Slide 9: AV+BH Creates Diversified Portfolio
Portfolio AV+BH Creates Diversified Portfolio AV Today AV Post BlueHalo Acquisition UAS GROUP ADVANCED 1,2,3 SOLUTIONS UAS GROUP ADVANCED 1,2,3 SOLUTIONS LOITERING MUNITIONS GROUND AND MARITIME ROBOTIC GROUND AND SOLUTIONS MARITIME ROBOTIC SOLUTIONS CYBER AND EW LOITERING COUNTER UAS MUNITIONS SPACE
Slide 10: Combined AV + BlueHalo TAM over $50B+
Combined AV + BlueHalo TAM over $50B+ Innovating and Incubating $23B+ Growing Rapidly Growing GLOBAL TAM $15B+ Rapidly Growing Growing Rapidly Growing $5B+ $4B+ $6B+ Rapidly Growing Rapidly Growing Growing MACCREADY WORKS ELECTRONIC ADVANCED LOITERING SPACE INNOVATIONS MUNITION SYSTEMS Group 1,2,3 C
Slide 11: AV+BH Well Positioned for New Administration's Defense Priorities
AV+BH Well Positioned for New Administration’s Defense Priorities During his confirmation process, Hegseth pledged that as leader of the Pentagon he would prioritize investments in AI, drones and counter-drone systems, among other technologies that he considers key to military modernization. WHY DRO
Slide 12: Our Unmatched Portfolio: Accomplishing Missions in the Most Demanding Environments
OUR UNMATCHED PORTFOLIO: Accomplishing Missions in the Most Demanding Environments GROUP 2-3 UAVS GROUP 1-2 UAVS Loitering Munitions Slide 12 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 13: P550 - Battlefield Adaptable
GROUP 1 / GROUP 2 UAS P550 - Battlefield Adaptable - Carry up to ~15lb* @ 120+ min of flight Rugged, Reliable, Portable, All-weather Tactical eVTOL Platform Easily Configure P550 to meet the needs of any mission with Single & Multiple Payload options Unique Payload Sled with Common Payload Interface
Slide 14: AV Product Mix
AV PRODUCT MIX Smart solutions that respond to evolving customer needs PLATFORMS Group 1 UAVs Communications Command and Control Autonomy / AI Group 2-3 UAVs Computer Vision / Object ID Loitering Munitions Visual Navigation Lethal Drones Flight Control Systems Ground Robots Advanced Solutions Logist
Slide 15: AV's Autonomous Solutions Help Solve Future Challenges of UAS Warfare
CORPORATE OVERVIEW AV’s Autonomous Solutions Help Solve Future Challenges of UAS Warfare DATALINKS ARE GPS IS AIR DEFENSE RAPIDLY COMPROMISED UNRELIABLE SYSTEMS EVOLVING BATTLEFIELD AV is well positioned to solve these problems as we move toward more autonomous solutions Slide 15 © 2025 AeroVironmen
Slide 16: Group 1-3 UAS provide next-gen battlefield surveillance
Group 1-3 UAS provide next-gen battlefield surveillance Business Overview Key Growth Opportunities(3) Uncrewed aerial systems provide warfighters the Long Range Medium Range massed and resilient C2ISR(1) capabilities required to Reconnaissance Reconnaissance dominate 21st Century contested battlespa
Slide 17: Loitering Munitions engage beyond-line-of-sight targets
Loitering Munitions engage beyond-line-of-sight targets Business Overview Key Growth Opportunities(2) Low Altitude Diverse portfolio of man-portable autonomous weapon Long Range Stalking & Strike systems allow warfighters to rapidly prosecute protected Precision Munition Ordnance adversary positions
Slide 18: Future Defense Solutions are More Cost Effective
CORPORATE OVERVIEW Future Defense Solutions are More Cost Effective SWITCHBLADE Products Provide Cost Effective Solutions UKRAINE has fired $36M MINIMAL COST SWITCHBLADE 600 worth of Provides a 75x Cost Advantage SWITCHBLADE 600 munitions to destroy $2.7B worth of enemy equipment MAXIMUM IMPACT Slid
Slide 19: BlueHalo has a comprehensive suite of cUAS offerings
BlueHalo has a comprehensive suite of cUAS offerings Business Overview Key Growth Opportunities(2) AV’s incoming cUAS portfolio spans capabilities (e.g., Replicator 2.0 Next Generation detect, track, destroy) and effectors (e.g., lasers, kinetic) Initiative Missile Production to serve evolving air d
Slide 20: BlueHalo's Space Technology addresses critical missions
BlueHalo’s Space Technology addresses critical missions Business Overview Key Growth Opportunities(2) Proliferated AV’s incoming Space offerings underpin situational Classified National Warfighter Space awareness, superiority, SATCOM, C2, and remote Security Space Architecture sensing missions acros
Slide 21: BlueHalo delivers key EW, cyber, and INT solutions
BlueHalo delivers key EW, cyber, and “-INT” solutions Business Overview Key Growth Opportunities(2) AV will serve highly sensitive offensive / defensive cyber MIP + NIP EW/EMS Flexible and “tip of the spear” intelligence missions with a suite of IC Programs Budget Authorities “off-the-shelf” product
Slide 22: Slide 22 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 22 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 23: Narrowing Revenue, Adjusted EBITDA and Adjusted EPS Guidance
THIRD QUARTER FISCAL YEAR 2025 Narrowing Revenue, Adjusted EBITDA and Adjusted EPS Guidance: Fiscal 2025 Outlook - AVAV Pre-Close of BlueHalo EXPECTED % CHANGE AS OF 3/4/2025 FY24 RESULTS FY25 GUIDANCE (TO MIDPOINT) Revenue $717 million $780 million – $795 million 10% Adjusted EBITDA $128 million1 $
Slide 24: Visibility for FY25
THIRD QUARTER FISCAL YEAR 2025 Visibility for FY25 REVENUE (MILLIONS) $900 95% Visibility1 100% Visibility2 $800 0.9 17.5 29.4 16.3 Revenue $700 80% Visibility1 $224.4 Guidance $600 41.1 Range: 99.0 $338.1 $780 to $500 55% Visibility1 $795 Million Company 29.9 visibility $400 52.4 (as of Mar. 4, 202
Slide 25: Slide 25 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 25 © 2025 AeroVironment, Inc. – Proprietary Information
Slide 26: Appendix A: Financial Tables
FINANCIAL TABLES APPENDIX A Historical Non-GAAP Adjusted EBITDA Reconciliation (Unaudited) Slide 26 © 2025 AeroVironment, Inc. – Proprietary Information
AeroVironment — J.P. Morgan Industrials Conference 2025 on 6ix