Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q2 FY2020 Earnings Presentation
13 slides from Aerovironment's earnings presentation, Dec 3, 2019
Slide 1: Second Quarter Fiscal Year 2020 Earnings Presentation
Second Quarter Fiscal Year 2020 Earnings Presentation December 3, 2019 1 August 2, 2017 December 3, 2019 © 2019 2017 AeroVironment, Inc.
Slide 2: Safe Harbor Statement
Safe Harbor Statement ▪ Certain statements in this presentation may constitute "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 i
Slide 3: Second Quarter Fiscal Year 2020 Key Messages
Second Quarter Fiscal Year 2020 Key Messages 1. Our team’s track record of delivering excellent quarterly results continues 2. We are successfully executing our plan and remain on-track to achieve our fiscal year 2020 objectives 3. We continue to make great progress on our strategic growth initiativ
Slide 4: Outstanding Second Quarter Fiscal Year 2020 Results
Outstanding Second Quarter Fiscal Year 2020 Results 2nd Qtr. Fiscal Year-Over-Year Metric Highlights Year 2020 Change Revenue $83.3 million +14% Strong small UAS sales Gross profit $35.2 million +24% Favorable revenue mix GAAP EPS $0.31 +$0.02 No one-time items in second quarter fiscal year 2019 (di
Slide 5: Favorable Revenue Mix and Higher Volume Driving Strong Results
Favorable Revenue Mix and Higher Volume Driving Strong Results 100% $0.35 24% $0.34 PERCENTAGE OF QUARTERLY 36% 34% 32% 31% 75% $0.33 NON-GAAP Diluted EPS $0.32 REVENUE $0.31 50% $0.30 0.34* 76% 64% 66% 68% 69% $0.29 25% $0.28 0.29 $0.27 0% Q2 FY19 Q3 FY19 Q4 FY19 Q1 FY20 Q2 FY20 $0.26 Q2 FY19 Q2 FY
Slide 6: Second Quarter Fiscal Year 2020 Business Highlights
Second Quarter Fiscal Year 2020 Business Highlights • Won U.S. Army FCS • Successfully • Submitted proposal for contract worth up to $55 completed first two potential three-year million HAWK30 test flights LMAMS program worth • Won more than $20 million • Increased total project up to $160 million i
Slide 7: Government Fiscal Year 2019 Procurement Appropriations Conversion to Contract Awards
Government Fiscal Year 2019 Procurement Appropriations Conversion to AeroVironment Contract Awards $180.0 Value of Appropriations/ Awards $135.0 $110.0 * (millions) $90.0 $13.5 $12.4 $45.0 $46.0 $45.2 $- Government FY 2019 Procurement Appropriations Government FY 2019 Procurement Contracts Awarded t
Slide 8: Making Significant Progress on HAPS Program – Currently In Flight Test Phase
Making Significant Progress on HAPS Program– Currently In Flight Test Phase Pathfinder Pathfinder Plus Helios ▪ SoftBank Corp. owns approximately 95% of 71,504 feet / (1997) 80,201 feet / (1998) 96,863 feet / (2001) HAPSMobile Inc. & AeroVironment owns approximately 5% ▪ Flight test underway - HAWK3
Slide 9: Strong Funded Backlog and High Visibility Support Expected Revenue Growth
Strong Funded Backlog and High Visibility Support Expected Fiscal Year 2020 Year-Over-Year Revenue Growth $400 Revenue Guidance Range as of 12/3/19: $350 million to $370 million 89% visibility $1.8 $300 $22 75% visibility Revenue (millions) $14.5 Revenue Anticipated This FY from Unfunded $18 Backlog
Slide 10: Fiscal Year 2020 Expectations
Fiscal Year 2020 Expectations Fiscal Year 2019 Current Expectations (12/3/19) Actuals Revenue $314 million $350 million to $370 million Earnings Per Share (diluted) $1.74 $1.35 to $1.55 Non-GAAP Earnings Per Share (diluted) $1.481 $1.47 to $1.672 First half revenue as a percentage of full year 48% 4
Slide 11: For more information: Steven Gitlin
For more information: Steven Gitlin Vice President Investor Relations ir@avinc.com +1 (805) 520-8350 11 December 3, 2019 © 2019 AeroVironment, Inc.
Slide 12: Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share
Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share (Unaudited) Three Months Ended Three Months Ended Six Months Ended Six Months Ended October 26, 2019 October 27, 2018 October 26, 2019 October 27, 2018 Earnings per diluted share from continuing operations $ 0.31 $ 0.29 $ 1.02 $ 1.14 A
Slide 13: Appendix – Reconciliation of Non-GAAP Diluted EPS Expectations
Appendix – Reconciliation of Fiscal Year 2020 Non-GAAP Diluted Earnings Per Share Expectations (Unaudited) d s Fiscal year ending April 30, 2020 Expected earnings per diluted share (GAAP) $ 1.35 – 1.55 Acquisition related expenses 0.03 Amortization of acquired intangible assets 0.08 Expected earning