Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q3 FY2022 Earnings Presentation
13 slides from Aerovironment's earnings presentation, Mar 3, 2022
Slide 1: Third Quarter Fiscal Year 2022 Earnings Presentation
THIRD QUARTER FISCAL YEAR 2022 EARNINGS PRESENTATION Mar 3, 2022 052620 Slide 1 © 2021 AeroVironment, Inc.
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: 3rd Quarter Fiscal Year 2022 Key Messages
3RD QUARTER FISCAL YEAR 2022 KEY MESSAGES o As anticipated, company continues to face headwinds from supply chain constraints, tight labor markets, and US government’s Continuing Resolution o Achieved 3rd quarter results in line with expectations and maintaining previously revised guidance for fisca
Slide 4: Third Quarter Results Fiscal Year 2022
THIRD QUARTER RESULTS FISCAL YEAR 2022 Year-Over- Metric Q3 FY22 Notes Year Change Increase driven by acquired business segments offset by Revenue $90.1 million +14% declines in SUAS segment GAAP Gross Reflecting heavier mix of service revenue, and intangible $21.4 million -25% profit amortization e
Slide 5: Revenue Mix by Segment and Type
REVENUE MIX BY SEGMENT AND TYPE Quarterly Revenue By Segment Quarterly Revenue by Type $160,000 100% 50% 26% 29% 47% 42% 53% $140,000 $136,015 90% 44% 45% Percentage Quarterly Revenue $122,008 Revenue in thousands $120,000 80% 40% $101,009 36% $100,000 70% 35% 35% $90,093 Gross Margin $78,782 60% 30
Slide 6: Adjusted Profitability by Type and Non-GAAP EPS
ADJUSTED PROFITABILITY BY TYPE AND NON-GAAP EPS 1 60% $0.35 51% Percentage Adjusted Gross Margin1 50% 48% $0.30 46% 42% 40% Non-GAAP Diluted EPS2 40% 37% $0.25 37% 39% 32% 30% 32% 30% 29% $0.20 27% 22% 23% 0.32 $0.15 20% $0.10 10% 0.14 $0.05 0% Q3 FY21 Q4 FY21 Q1 FY22 Q2 FY22 Q3 FY22 $- Adj Product
Slide 7: Visibility Supports Revised Full Year Expectations
VISIBILITY SUPPORTS REVISED FULL YEAR EXPECTATIONS $600 Revenue Guidance Range as of 6/28/21: $560 million to $580 million $500 90% visibility 2 95% visibility 2 Revenue Guidance Range as of 12/7/21: $0.0 $440 million to $460 million $6.0 Revenue (millions) $400 66% visibility 1 $5.2 61% visibility
Slide 8: Updated Guidance: Fiscal 2022 Outlook
UPDATED GUIDANCE: FISCAL 2022 OUTLOOK Fiscal Year 2021 Expected Change As of 1/29/22 No change in FY22 Guidance Results (to midpoint) Revenue $395 million $440 million - $460 million +13.9% Net Income/(Loss) from continuing $23 million ($12) million – ($8) million (142.9%) operations Adjusted EBITDA
Slide 9: Investor Relations
Investor Relations ir@avinc,com 052620 Slide 9 © 2021 AeroVironment, Inc. +1 (805) 520-8350
Slide 10: Appendix A – Reconciliation of Non-GAAP Earnings (Loss) per Diluted Share
APPENDIX A – RECONCILIATION OF NON-GAAP EARNINGS (LOSS) PER DILUTED SHARE (UNAUDITED) 052620 Slide 10 © 2021 AeroVironment, Inc.
Slide 11: Appendix B – Reconciliation of Fiscal Year 2022 Non-GAAP Diluted EPS Expectations
APPENDIX B – RECONCILIATION OF FISCAL YEAR 2022 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 11 © 2021 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 Fiscal 3rd Quarter Fiscal 4th Quarter Fiscal 1st Quarter Fiscal 2nd Quarter Fiscal 3rd Quarter (in thousands) FY2021 FY2021 FY2022 FY2022 FY2022 Adjusted Gross Margin Products Gross Margin $22,602 $48,980 $20,526 $32,061 $13,305 I
Slide 13: Appendix D – GAAP to Non-GAAP Reconciliation of Adjusted EBITDA
APPENDIX D – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED EBITDA 052620 Slide 13 © 2021 AeroVironment, Inc.