Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q4 2024 Earnings Presentation

16 slides from Aerovironment's earnings presentation, Jun 26, 2024

  1. Slide 1: Fourth Quarter Fiscal Year 2024 Earnings Presentation

    Fourth Quarter Fiscal Year 2024 Earnings Presentation June 26, 2024 Slide 1 | © 2024 AeroVironment, Inc.

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact of our ability to successfully close and integrate acquisitions into our operations and avoid disruptions from acquisition transactions t

  3. Slide 3: Fourth Quarter Fiscal Year 2024 Key Messages

    Fourth Quarter Fiscal Year 2024 Key Messages Achieved record full fiscal year Record fourth-quarter revenue of revenue of $717 million, an increase of $197 million, a 6% increase over Q4 33% over prior year FY23 Loitering Munition Systems segment FY25 fiscal year revenue guidance of led company grow

  4. Slide 4: Full Year Results Fiscal Year 2024

    Full Year Results Fiscal Year 2024 Year-Over- Metric FY24 Year Change Notes Overall increase driven by higher sales in UxS and LMS Revenue $716.7 m +33% segments. Increase driven by higher product gross margin as well as higher GAAP Gross Margin $283.9 m +64% service gross margin. Increase due to hi

  5. Slide 5: Fourth Quarter Results Fiscal Year 2024

    Fourth Quarter Results Fiscal Year 2024 Year-Over- Metric Q4 FY24 Year Change Notes Overall increase driven by higher product sales in UxS and LMS Revenue $197.0 m +6% segments partially offset by a decrease in service revenue. Increase driven by higher service margins partially offset by GAAP Gross

  6. Slide 6: Revenue Mix by Segment and Type

    Revenue Mix by Segment and Type QUARTERLY REVENUE BY SEGMENT QUARTERLY REVENUE BY TYPE $250.0 100% 60% 24% 22% 19% 16% 16% Percentage Quarterly Revenue 90% $197.0 50% $200.0 $186.1 $180.8 $186.6 80% $152.3 70% 43% 42% Gross Margin 40% Revenue in millions $150.0 37% 38% 60% 36% 50% 30% $100.0 MW 40%

  7. Slide 7: 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% $1.00 $0.99 49% $0.90 50% 47% 47% 45% 40% 41% $0.80 43% 38% 38% 40% 39% 38% 40% $0.70 28% 28% 30% $0.60 $0.50 20% $0.43 13% $0.40 10% $0.30 0% $0.20 Q4 FY23 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 $0.

  8. Slide 8: Updated Guidance: Fiscal 2025 Outlook

    Updated Guidance: Fiscal 2025 Outlook EXPECTED % CHANGE AS OF 06/26/2024 FY24 RESULTS FY25 GUIDANCE (TO MIDPOINT) Revenue $717 million $790 million - $820 million 12% Net (Loss)/Income $60 million $74 million – $83 million4 --- Adjusted EBITDA $128 million2 $143 million–$153 million4 16% Earnings/(L

  9. Slide 9: Visibility for FY25

    Visibility for FY25 REVENUE (MILLIONS) $900 Revenue Guidance Range: $800 $790 to $820 million $700 Company $600 visibility supports $500 revenue guidance 55% visibility 1,2 Revenue Anticipated This FY range $29.9 from Unfunded Backlog $400 $52.4 Revenue Anticipated This FY $300 from Qtr-To-Date Book

  10. Slide 10: Financial Tables

    Financial Tables Slide 10 © 2024 AeroVironment, Inc.

  11. Slide 11: Appendix A – Reconciliation of Non-GAAP Earnings per Diluted Share

    APPENDIX A – RECONCILIATION OF NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) Three Months Three Months Ended Ended Year Ended Year Ended April 30, 2024 April 30, 2023 April 30, 2024 April 30, 2023 Earnings (loss) per diluted share $ 0.22 $ (6.31) $ 2.18 $ (7.04) Acquisition-related expenses 0.01 0

  12. Slide 12: Appendix B – Reconciliation of FY2025 Non-GAAP Diluted EPS Expectations

    APPENDIX B – RECONCILIATION OF FISCAL YEAR 2025 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 12 | © 2024 AeroVironment, Inc.

  13. Slide 13: Appendix C – GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin

    APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN 052620 Slide 13 | © 2024 AeroVironment, Inc.

  14. Slide 14: Appendix D – Historical Adjusted EBITDA Reconciliation

    APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION 052620 Slide 14 | © 2024 AeroVironment, Inc.

  15. Slide 15: Appendix E – Reconciliation of Non-GAAP FY2025 Adjusted EBITDA Expectations

    APPENDIX E – RECONCILIATION OF NON-GAAP FISCAL YEAR 2025 ADJUSTED EBITDA EXPECTATIONS 052620 Slide 15 | © 2024 AeroVironment, Inc.

  16. Slide 16: Appendix F – Reconciliation of FY2024 Non-GAAP Earnings per Diluted Share

    APPENDIX F – RECONCILIATION OF FISCAL YEAR 2024 NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) Fiscal Year Ended April 30, 2024 Earnings (loss) per diluted share $ 2.18 Acquisition-related expenses 0.06 Amortization of acquired intangible assets and other purchase accounting adjustments 0.54 Equity

AeroVironment — Q4 2024 Earnings Presentation on 6ix