Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q1 FY2027 Earnings Presentation
18 slides from Aerovironment's earnings presentation, Sep 9, 2026
Slide 1: First Quarter Fiscal Year 2027 Earnings Conference Call
FIRST QUARTER FISCAL YEAR 2027 Earnings Conference Call September 9, 2026
Slide 2: Safe Harbor Statement
This presentation 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, performan ce or achievement
Slide 3: First Quarter Fiscal Year 2027 Key Messages
First Quarter Fiscal Year 2027 Key Messages First- quarter record Strong bookings 1 of Record funded Solid first - quarter revenue of $480 million $683 million for first backlog 1 of $1.5 billion, adjusted EBITDA of driven by strong sales in quarter fiscal year up 23% sequentially $53 million 2 driv
Slide 4: First Quarter Fiscal Year 2027 Results
First Quarter Fiscal Year 2027 Results Metric Q1 FY27 Notes Revenue $480.5 M o 6% YoY revenue growth, driven by 21% YoY sales increase from AxS GAAP Gross Margin $124.6 M o 31% YoY increase driven by strong contributions from AxS Non - GAAP o First- quarter adjusted EBITDA margin of 11% driven by hi
Slide 5: Revenue Mix, Adjusted Profitability and Non-GAAP EPS
Revenue Mix, Adjusted Profitability and Non - GAAP EPS Quarterly Revenue by Segment Adjusted Non - GAAP Gross Margin 1 Non - GAAP Diluted EPS 2 $800.0 60% $0.75 $700.0 $641.6 $0.59 $600.0 $480.5 40% $472.5 40% $0.50 $500.0 $454.7 36% $408.0 $400.0 29% 30% $0.32 $300.0 20% $0.25 $200.0 13% 8% $100.0
Slide 6: First Quarter Year over Year Revenue Comparison by Operating Group
First Quarter Year over Year Revenue Comparison by Operating Group [$M] Q1 FY26 Q1 FY27 Variance vs. Prior Year Variance vs. Prior Year [%] Uncrewed Aircraft Systems $ 70 $ 120 $ 50 71 % Precision Strike & Defensive $ 182 $ 197 $ 15 8 % Systems Other $ 33 $ 29 $ [4] [12] % AxS TOTAL $ 285 $ 346 $ 61
Slide 7: Guidance: Fiscal 2027 Outlook
Guidance: Fiscal 2027 Outlook As of 09/9/2026 Q1 FY27 Results FY27 Guidance (unchanged from Q4) Notes / Assumptions $2.125 B to $2.225 B Revenue $480.5 M 10% year- over-year growth at midpoint o 1HFY27 = 45%; 2HFY27 = 55% o IRAD guidance remains 7% to 9% of revenue Adjusted EBITDA 1 $53.4 M $305 M
Slide 8: FY2027 Revenue Visibility
FY2027 Revenue Visibility $2,500 GUIDANCE RANGE 69 % visibility 1 86 % visibility 1 $ 2.125B - $ 2.225B $2,000 Company 104 visibility 140 supports $1,500 revenue 192 guidance 314 range 1,137 $1,000 $500 990 481 $- Q4 FY26 (6/29/26) Q1 FY27 (9/9/26) Q2 FY27 Q3 FY27 Q4 FY27 IN MILLIONS Year-to-Date -
Slide 9: Major Awards Announced First Quarter 2027
Major Awards Announced First Quarter 2027 PRECISION STRIKE & UNCREWED AIRCRAFT SPACE AND DEFENSIVE SYSTEMS SYSTEMS DIRECTED ENERGY $500M $117M $464M Joint Interagency Task Force U.S. Army awarded P550 AV’s LOCUST® selected for 401 (JIATF - 401) has selected contract for the Long -Range Army C -UAS c
Slide 10: Appendix
AY APPENDIX AS
Slide 11: Reconciliation of Non-GAAP Earnings per Diluted Share (unaudited)
APPENDIX A - FINANCIAL TABLES Reconciliation of Non - GAAP Earnings per Diluted Share (unaudited) 1st Quarter 1st Quarter FY2026 FY2027 Loss per diluted share $ (1.44) $ (0.10) Acquisition -related expenses 0.52 0.04 Amortization of acquired intangible assets 1.34 0.69 and other purchase accounting
Slide 12: GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin
APPENDIX B - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Adjusted Gross Margin 1st Quarter 1st Quarter Products FY2026 FY2027 Gross Margin $ 82.8 $ 115.5 Intangible amortization and acquisition related $ 31.3 $ 15.9 expense Adjusted Gross Margin $ 114.1 $ 131.4 Adj. Prod GM% 36% 40% Servic
Slide 13: Net Income to EBITDA and Non-GAAP Adjusted EBITDA Reconciliation
APPENDIX C - FINANCIAL TABLES Net Income to EBITDA and non - GAAP Adjusted EBITDA Reconciliation 1st Quarter 1st Quarter [$M] FY2026 FY2027 Net loss $ (67.4) $ (5.1) Interest expense (income), net 17.4 (4.1) Tax benefit (15.2) (0.4) Depreciation 10.6 12.6 Amortization 79.7 43.4 EBITDA (Non - GAAP) 2
Slide 14: GAAP to Non-GAAP Reconciliation of Earnings per Diluted Share (Unaudited)
APPENDIX D - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Earnings per Diluted Share (Unaudited) FY2027 Full Year Non - GAAP FY2026 Forecast Earnings (loss) per diluted share (GAAP) $ (5.40) $ 0.21 - 0.53 Acquisition -related expenses 0.89 0.15 Amortization of acquired intangible assets and
Slide 15: Reconciliation of 2027 Forecast and Fiscal Year 2026 Non-GAAP Adjusted EBITDA
APPENDIX E - FINANCIAL TABLES Reconciliation of 2027 Forecast and Fiscal Year 2026 Non - GAAP adjusted EBITDA (Unaudited) FY2026 FY2027 Full Year Non - GAAP [$M] Forecast Net (loss) income from continued operations $ (265) $ 10 - 27 Interest expense (income), net 6 (10) Tax (benefit) provision (23)
Slide 16: AVAV Contracting Related Definitions
APPENDIX F - FINANCIAL TABLES AVAV Contracting Related Definitions Term Definition Q1 FY27 Results The value of new authorized/exercised contract awards and contract modification s received during the reporting period. Bookings typically include the total contract value for new awards and the increm
Slide 17: GAAP to Non-GAAP Reconciliation of Adjusted SG&A (Unaudited)
APPENDIX G - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Adjusted SG&A (Unaudited) 1st Quarter 1st Quarter FY2027 Full Year Non - GAAP [$M] FY2026 FY2027 FY2026 Forecast SG&A Reconciliation Revenue $ 454.7 $ 480.5 $ 1,976.8 $ 2,125 – 2,225 Total SG&A 131.3 111.5 443.3 415 – 473 Total SG&A
Slide 18: Q1 FY27 Total Unfunded Backlog Roll Forward
APPENDIX H - FINANCIAL TABLES Q1 FY27 Total Unfunded Backlog Roll Forward Total Unfunded Backlog [$M] Total Roll Forward Q4 FY26 Unfunded Backlog as of 4/30/2026 $ 1,457.7 Q1 FY27 Orders Reducing Unfunded Backlog (177.6) Q1 FY27 New Unfunded Bookings 86.4 Total Q1 FY27 Unfunded Backlog as of 8/01/20