Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q1 2023 Earnings Presentation

13 slides from Aerovironment's earnings presentation, Sep 7, 2022

  1. Slide 1: First Quarter Fiscal Year 2023 Earnings Presentation

    FIRST QUARTER FISCAL YEAR 2023 EARNINGS PRESENTATION September 7, 2022 052620 Slide 1 © 2022 AeroVironment, Inc.

  2. 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

  3. Slide 3: First Quarter Fiscal Year 2023 Key Messages

    FIRST QUARTER FISCAL YEAR 2023 KEY MESSAGES o Achieved first quarter results in line with expectations and on track to achieve FY 2023 objectives o Strong order momentum demonstrated by a record funded backlog of more than $300 million as of August 27, 2022 o Company continues to successfully manage

  4. Slide 4: First Quarter Results Fiscal Year 2023

    FIRST QUARTER RESULTS FISCAL YEAR 2023 Year-Over- Metric Q1 FY23 Notes Year Change Increase driven by higher product sales and service Revenue $108.5 million +7% revenue. Increase in TMS revenue and customer-funded R&D revenue, offset by declines in MUAS segment GAAP Gross profit $33.7 million +17%

  5. Slide 5: Revenue Mix by Segment and Type

    REVENUE MIX BY SEGMENT AND TYPE Quarterly Revenue By Segment Quarterly Revenue by Type $140,000 $132,622 100% 50% 47% 42% 53% 44% 47% $122,008 $120,000 90% 45% $108,516 Percentage Quarterly Revenue $101,009 80% 40% Revenue in thousands $100,000 $90,093 37% 70% 35% 35% $80,000 Gross Margin 31% 60% 30

  6. Slide 6: Adjusted Profitability by Type and Non-GAAP EPS

    ADJUSTED PROFITABILITY BY TYPE AND NON-GAAP EPS 60% $- Percentage Adjusted Gross Margin1 48% 49% $(0.02) 50% 45% 42% $(0.04) (0.10) Non-GAAP Diluted EPS2 40% 37% $(0.06) 39% 40% 34% 32% $(0.08) 30% 30% (0.17) 27% 28% 23% $(0.10) 22% 21% 20% $(0.12) $(0.14) 10% $(0.16) $(0.18) 0% Q1 FY22 Q2 FY22 Q3 F

  7. Slide 7: Guidance: Fiscal 2023 Outlook

    GUIDANCE: FISCAL 2023 OUTLOOK Fiscal Year 2022 Expected % Change As of 4/30/2022 FY23 Guidance Results (to midpoint) Revenue $446 million $490 million - $520 million 13% Net Income/(Loss) ($4 million) $11 million – $18 million --- Adjusted EBITDA 1 $62 million $82 million – $92 million 43% Earnings/

  8. Slide 8: Visibility for FY23

    VISIBILITY FOR FY23 $600 $500 Revenue Guidance Range: $490 million to $520 million 75% visibility 1 Revenue (millions) $400 $6.1 $95.1 57% visibility 1 Revenue Anticipated This FY from Unfunded $300 Backlog $27.1 Revenue Anticipated This FY from Qtr-To-Date $59.2 Bookings $200 $168.2 Revenue Anticip

  9. Slide 9: Investor Relations

    Investor Relations ir@avinc,com 052620 Slide 9 © 2022 AeroVironment, Inc. +1 (805) 520-8350

  10. Slide 10: Appendix A – Reconciliation of Non-GAAP Loss per Diluted Share

    APPENDIX A – RECONCILIATION OF NON-GAAP LOSS PER DILUTED SHARE (UNAUDITED) 052620 Slide 10 © 2022 AeroVironment, Inc.

  11. Slide 11: Appendix B – Reconciliation of Fiscal Year 2023 Non-GAAP Diluted EPS Expectations

    APPENDIX B – RECONCILIATION OF FISCAL YEAR 2023 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 11 © 2022 AeroVironment, Inc.

  12. Slide 12: Appendix C – GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin

    APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN 052620 Slide 12 © 2022 AeroVironment, Inc.

  13. Slide 13: Appendix D – Historical Adjusted EBITDA Reconciliation

    APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION 052620 Slide 13 © 2022 AeroVironment, Inc.

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