Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q2 FY2026 Earnings Presentation
18 slides from Aerovironment's earnings presentation, Dec 9, 2025
Slide 1: Second Quarter Fiscal Year 2026 Earnings Conference Call
Second Quarter Fiscal Year 2026 Earnings Conference Call DECEMBER 9, 2025
Slide 2: Safe Harbor Statement
[2] © 2025 AEROVIRONMENT, INC. Safe Harbor Statement This press release contains "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
Slide 3: Second Quarter Fiscal Year 2026 Key Messages
[3] © 2025 AEROVIRONMENT, INC. Record second quarter revenue of nearly $473 million driven by strong sales in the AxS segment AV launched several new products aligned to our customers' highest priorities and continued to execute on expanding manufacturing capacity Record second quarter contract awar
Slide 4: Second Quarter Fiscal Year 2026 Results
[4] © 2025 AEROVIRONMENT, INC. Second Quarter Fiscal Year 2026 Results 1 Q2 GAAP NET LOSS WAS ($17.1M). REFER TO ADJUSTED EBITDA RECONCILIATION ON APPENDIX C. 2 Q2 GAAP EPS WAS ($0.34) PER DILUTED SHARE. REFER TO RECONCILIATION OF NON-GAAP EARNINGS PER DILUTED SHARE ON APPENDIX A. 3 GAAP SG&A WAS 21
Slide 5: Revenue Mix, Adjusted Profitability and Non-GAAP EPS
[5] © 2025 AEROVIRONMENT, INC. $- $100.0 $200.0 $300.0 $400.0 $500.0 $600.0 Q2 FY25 Q3 FY25 Q4 FY25 Q1 FY26 Q2 FY26 AxS $261.4 $223.4 $330.6 $285.3 $301.6 SCDE $170.9 $160.0 $163.5 $169.4 $170.9 $383.4 $472.5 $454.7 $432.3 $494.1 Revenue Mix, Adjusted Profitability and Non-GAAP EPS 1 PRO FORMA FY25
Slide 6: Year over Year Revenue Comparison by Operating Group
[6] © 2025 AEROVIRONMENT, INC. Year over Year Revenue Comparison by Operating Group ** INCLUDES FY25 PRO FORMA REVENUE (unaudited) FOR BLUEHALO
Slide 7: YTD Revenue Comparison by Operating Group
[7] © 2025 AEROVIRONMENT, INC. YTD Revenue Comparison by Operating Group ** INCLUDES FY25 PRO FORMA REVENUE (unaudited) FOR BLUEHALO
Slide 8: Updated Guidance: Fiscal 2026 Outlook
[8] © 2025 AEROVIRONMENT, INC. Updated Guidance: Fiscal 2026 Outlook 1 Q2 GAAP EPS OF $(0.34). REFER TO FORECASTED EARNINGS PER DILUTED SHARE RECONCILIATION ON APPENDIX D. 2 Q2 GAAP NET LOSS OF $(17.1M). REFER TO FORECASTED NON-GAAP ADJUSTED EBITDA RECONCILIATION ON APPENDIX E. 3 REFER TO ADJUSTED E
Slide 9: Visibility for FY26
[9] © 2025 AEROVIRONMENT, INC. Revenue [Millions] Visibility for FY26 1 BASED ON MIDPOINT OF GUIDANCE RANGE OF $1.95 TO $2.0 BILLION. $454.7 $927.2 $1,003.8 $855.7 $675.7 $115.5 $43.8 $245.4 $175.4 $186.8 $- $250 $500 $750 $1,000 $1,250 $1,500 $1,750 $2,000 $2,250 $2,500 Q4 FY25 (6/24/25) Q1 FY26 (9
Slide 10: Major Second Quarter and Subsequent Awards
[10] © 2025 AEROVIRONMENT, INC. Major Second Quarter and Subsequent Awards _SPACE & DIRECTED ENERGY $75M Space Force Award for Two BADGER Systems Strengthens SCAR Production PROGRAM: SCAR 1 _CYBER & MISSION SOLUTIONS $98M Generative Environment for the Next Era of Spectral Imaging Simulators PROGRAM
Slide 11: Financial Tables
Aw Financial Tables
Slide 12: Reconciliation of Non-GAAP Earnings per Diluted Share
[12] © 2025 AEROVIRONMENT, INC. Reconciliation of Non-GAAP Earnings per Diluted Share (unaudited) APPENDIX A - FINANCIAL TABLES Three months ended August 2, 2025 Three months ended November 1, 2025 Loss per diluted share $ (1.44) $ (0.34) Acquisition-related expenses $ 0.52 $ 0.13 Amortization of ac
Slide 13: GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin
[13] © 2025 AEROVIRONMENT, INC. GAAP to NON-GAAP Reconciliation of Adjusted Gross Margin APPENDIX B - FINANCIAL TABLES (in thousands) 1st Quarter FY2026 2nd Quarter FY2026 Products Gross Margin $ 82,846 $ 83,640 Intangible Amortization $ 31,245 $ 23,482 Adjusted Gross Margin $ 114,901 $ 107,122 Adj.
Slide 14: Net Income to EBITDA and Non-GAAP Adjusted EBITDA Reconciliation
[14] © 2025 AEROVIRONMENT, INC. Net Income to EBITDA and non-GAAP Adjusted EBITDA Reconciliation APPENDIX C - FININACIAL TABLES (in $ millions) Fiscal 1st Quarter 2026 Fiscal 2nd Quarter 2026 Net loss from continued operations (67.4) (17.1) Interest Expense, net 17.4 (4.7) Tax benefit (15.2) (2.3) D
Slide 15: GAAP to Non-GAAP Reconciliation of Earnings per Diluted Share
[15] © 2025 AEROVIRONMENT, INC. GAAP to Non-GAAP Reconciliation of Earnings per Diluted Share (Unaudited) APPENDIX D - FINANCIAL TABLES Fiscal year ended April 30, 2025 Fiscal year ended April 30, 2026 Earnings (loss) per diluted share $1.55 $(0.76) - (0.61) Acquisition-related expenses $0.54 $0.74
Slide 16: Reconciliation of 2026 Forecast and FY2025 Non-GAAP Adjusted EBITDA
[16] © 2025 AEROVIRONMENT, INC. Reconciliation of 2026 Forecast and Fiscal Year 2025 Non-GAAP adjusted EBITDA (Unaudited) APPENDIX E - FININACIAL TABLES (in millions) Fiscal year ended April 30, 2026 Fiscal year ended April 30, 2025 Net (loss) Income from continued operations $ (38) – (30) $ 44 Inte
Slide 17: AVAV Contracting Related Definitions
[17] © 2025 AEROVIRONMENT, INC. AVAV Contracting Related Definitions APPENDIX F - FININACIAL TABLES Term Definition Q2 FY26 Results Award The total potential value of a contract at time of announcement, including all base period value, priced options, expected follow-on periods, and any anticipated
Slide 18: GAAP to Non-GAAP Reconciliation of Adjusted SG&A
[18] © 2025 AEROVIRONMENT, INC. GAAP to non-GAAP Reconciliation of Adjusted SG&A (Unaudited) APPENDIX G - FININACIAL TABLES (in thousands) 2nd Quarter QTD FY2025 2nd Quarter QTD FY2026 FY2025 FY2026 Full Year Forecast SG&A Reconciliation Revenue $ 188,458 $ 472,508 $ 820,627 $ 1,975,000 Total SG&A $