Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — 23rd Annual Needham Virtual Growth Conference (January 2021)
20 slides from Aerovironment's conference presentation, Jan 14, 2021
Slide 1: AeroVironment – 23rd Annual Needham Virtual Growth Conference
AEROVIRONMENT 23rd Annual Needham Virtual Growth Conference PRESENTER January NAME 14, 2021 6 May 2020 © 2021 AeroVironment, Inc. 061820 052620 Slide 1 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 2: Safe Harbor Statement
Safe Harbor Statement o 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: Table of Contents
Table of Contents AeroVironment Overview…. Slide 4 Fiscal 2021 Drivers…. Slide 14 Financial Summary…. Slide 15 061820 052620 Slide 3 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 4: AeroVironment Overview
AEROVIRONMENT Overview 061820 052620 Slide 4 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 5: Acquiring Arcturus UAV to Expand Portfolio and Accelerate Growth
Acquiring Arcturus UAV to Expand Portfolio and Accelerate Growth o AeroVironment to acquire Arcturus UAV for $405 million in cash and stock; Arcturus UAV to become wholly-owned subsidiary of AeroVironment • Price represents approximately 11x Arcturus UAV’s LTM 9/30/20 adjusted EBITDA, net of anticip
Slide 6: Telerob Transaction Summary
Telerob Transaction Summary • AeroVironment to acquire Telerob Gesellschaft für Fernhantierungstechnik mbH for $45.4 million1 cash; Transaction Telerob to become wholly owned subsidiary of AeroVironment Structure • Additional $7.3 million1 in three-year, milestone-based earnout • AeroVironment to pa
Slide 7: Slide 7 © 2020 AeroVironment, Inc. – Proprietary Information
061820 052620 Slide 7 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 8: A Success Story Spanning Nearly 50 years of Innovation: 1971-2020
A Success Story Spanning Nearly 50 years of Innovation: 1971-2020 1977 1981 1986 1995 2001 2005 2010 2016 Gossamer Solar Pointer Pathfinder/ Helios Global Observer Global 2012 Blackwing™ 2019 Condor Challenger st Pathfinder Plus Prototype Observer® 1 st submarine- 1st controlled World Records: 1 bac
Slide 9: AeroVironment Investment Thesis
AeroVironment Investment Thesis o A profitable, pure-play unmanned robotics company o The global leader in selected markets, at the forefront of multiple large, global growth opportunities o Strong financial position and performance enabling our growth strategy o Demonstrated track record of capital
Slide 10: SUAS Small Unmanned Aircraft Systems
SUAS Small Unmanned Aircraft Systems 61% Majority Share of fiscal year 2020 company revenue of all unmanned aircraft in U.S. Dept. of Defense inventory1 1 Source: United States Department of Defense Unmanned Systems Roadmap 2013-2038, page 5 061820 052620 Slide 10 © 2020 AeroVironment, Inc. – Propri
Slide 11: Robust & Diversified International Revenue
Robust & Diversified International Revenue o Small UAS customers in 100% 50 50 allied nations - most 80% 40 with additional 48% Allied Nations 53% 55% 64% procurement potential 71% Revenue 60% 30 40% 20 o International revenue 20% 36% 47% 52% 45% 10 29% driven mainly by small 0% 0 UAS in Fiscal Year
Slide 12: TMS Tactical Missile Systems
TMS Tactical Missile Systems 17% of fiscal year 2020 company revenue Switchblade© Ground and Air Vehicle Integration • Lethal, high-precision, rapidly deployed munition • Working with General Dynamics Land Systems to • Switchblade 300 deployed by United States armed integrate Switchblade into next g
Slide 13: HAPS Continued Progress Flight Test Phase
HAPS Continued Progress Flight Test Phase Pathfinder 1997 Pathfinder Plus 1998 Helios 2001 SoftBank Corp. owns approximately 93% of HAPSMobile Inc. & AeroVironment owns approximately 7% 71,504 feet 80,201 feet 96,863 feet World’s first solar-powered World’s first 3G and HDTV World’s highest flying S
Slide 14: Fiscal 2021 Drivers
Fiscal 2021 Drivers o Continued focus on executing our growth strategy o Strength in international end markets o Tactical Missile System growth o Continued evaluation of strategic investments 061820 052620 Slide 14 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 15: Financial Summary
FINANCIAL SUMMARY 061820 052620 Slide 15 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 16: Profitable Growth Driven by Innovation & Strategic Investments
Profitable Growth Driven by Innovation & Strategic Investments $400 $2.00 EPS Attributable to AeroVironment – Diluted (whole $350 $1.80 $1.60 Revenue ($Millions) $300 $1.40 $250 $1.20 dollars) $200 $1.00 $150 $0.80 $0.60 $100 $0.40 Increased strategic $50 investments $0.20 in FY16 & FY17 $- $- 2016
Slide 17: Fiscal Year 2021 Quarterly Results (Continuing Operations)
Fiscal Year 2021 Quarterly Results (Continuing Operations) In $ Millions (except EPS) Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 YTD Revenue $87.5 $92.7 - - $180.1 Gross Margin $35.4 $40.9 - - $76.3 Gross Margin % 40% 44% - - 42% Income from Operations $12.3 $13.9 - - $26.2 Operating Margin % 14% 15% - - 15% Net I
Slide 18: A Strong Balance Sheet is Essential to our Growth Strategy
A Strong Balance Sheet is Essential to our Growth Strategy in cash, equivalents, $368 million restricted cash and investments October 31, 2020 April 30, 2020 unaudited Current Assets Cash and cash equivalents $280,099 $255,142 No debt Short-term investments $67,137 $47,507 Long-term investments $20,
Slide 19: Slide 19 © 2020 AeroVironment, Inc. – Proprietary Information
061820 052620 Slide 19 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 20: 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 31, 2020 October 26, 2019 October 31, 2020 October 26, 2019 Earnings per diluted share $ 0.09 $ 0.31 $ 0.50 $ 1.02 Acquisition related expenses
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