Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q1 2024 Earnings Presentation
15 slides from Aerovironment's earnings presentation, Sep 5, 2023
Slide 1: First Quarter Fiscal Year 2024 Earnings Presentation
First Quarter Fiscal Year 2024 Earnings Presentation September 5, 2023 052620 Slide 1 © 2023 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 imp
Slide 3: First Quarter Fiscal Year 2024 Key Messages
First Quarter Fiscal Year 2024 Key Messages Achieved record 1st quarter revenue of Strong order momentum demonstrated by $152 million, a 40% increase YoY, $268 million in bookings during the driven by strong demand for our market quarter and achieved record funded leading AI-enabled intelligent unma
Slide 4: First Quarter Results Fiscal Year 2024
First Quarter Results Fiscal Year 2024 Year-Over- Metric Q1 FY24 Year Change Notes Overall increase driven by higher product sales. Increase in Revenue $152.3 m +40% UMS, LMS and MW revenue, partially offset by lower service revenue. Increase reflects higher product margins on higher product sales G
Slide 5: Revenue Mix by Segment and Type
Revenue Mix by Segment and Type QUARTERLY REVENUE BY SEGMENT QUARTERLY REVENUE BY TYPE $200.0 100% 50% $186.0 47% 44% 32% Percentage Quarterly Revenue $180.0 90% 24% 22% 45% 43% $160.0 $152.3 80% 40% $140.0 $134.4 37% 70% 34% 35% Gross Margin Revenue in millions $120.0 $108.5 $111.6 60% 31% 30% $100
Slide 6: Adjusted Profitability by Type and Non-GAAP EPS
Adjusted Profitability by Type and Non-GAAP EPS PERCENTAGE ADJUSTED GROSS MARGIN1 NON-GAAP DILUTED EPS2 60% $1.20 49% 50% 47% $1.00 45% 41% 45% 38% $0.80 40% 36% 39% 34% 30% 26% 28% $0.60 27% 1.00 22% 20% $0.40 12% 13% 10% $0.20 0% $- 0.08 Q1 FY23 Q2 FY23 Q3 FY23 Q4 FY23 Q1 FY24 $(0.20) Adj Product
Slide 7: Updated Guidance: Fiscal 2024 Outlook
Updated Guidance: Fiscal 2024 Outlook EXPECTED % CHANGE AS OF 9/5/2023 FY23 RESULTS FY24 REVISED GUIDANCE (TO MIDPOINT) Revenue $541 million $645 million - $675 million 22% Net (Loss)/Income5 ($176 million) $51 million – $59 million --- Increase in FY24 midpoint Revenue and Adjusted EBITDA Adjusted
Slide 8: Visibility for FY24
Visibility for FY24 REVENUE (MILLIONS) Revised Increased Revenue Guidance Range: $645 to $675 $800 million as of 9/5/23 100%+ visibility2 $700 Revenue Guidance $37.9 Range: $630 to $660 $600 million $49.5 78% visibility1 Company $500 $17.9 visibility supports revised revenue $103.6 $400 Revenue Anti
Slide 9: Financial Tables
Financial Tables 052620 Slide 9 © 2023 AeroVironment, Inc.
Slide 10: Appendix A – Reconciliation of Non-GAAP Earnings Per Diluted Share
APPENDIX A – RECONCILIATION OF NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) 052620 Slide 10 | © 2023 AeroVironment, Inc.
Slide 11: Appendix B – Reconciliation of FY2024 Non-GAAP Diluted EPS Expectations
APPENDIX B – RECONCILIATION OF FISCAL YEAR 2024 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 11 | © 2023 AeroVironment, Inc.
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 | © 2023 AeroVironment, Inc.
Slide 13: Appendix D – Historical Adjusted EBITDA Reconciliation
APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION 052620 Slide 13 | © 2023 AeroVironment, Inc.
Slide 14: Appendix E – Reconciliation of Non-GAAP FY2024 Adjusted EBITDA Expectations
APPENDIX E – RECONCILIATION OF NON-GAAP FISCAL YEAR 2024 ADJUSTED EBITDA EXPECTATIONS 052620 Slide 14 | © 2023 AeroVironment, Inc.
Slide 15: Appendix F – Reconciliation of FY2023 Non-GAAP EPS
APPENDIX F – RECONCILIATION OF FISCAL YEAR 2023 NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) 052620 Slide 15 | © 2023 AeroVironment, Inc.