Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Investor Presentation (August 2022)
21 slides from Aerovironment's investor presentation, August 2022
Slide 1: AeroVironment, Inc.
AeroVironment, Inc. Wahid Nawabi, CEO. August, 2022 210510 Slide 1 © 2022 AeroVironment, Inc. – Proprietary Information
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: AeroVironment At-a-Glance
AeroVironment At-a-Glance Pureplay unmanned robotics systems company providing industries broadest portfolio of Intelligent Multi-domain Robotic Solutions for defense and commercial markets Founded in 1971 HQ in Arlington, VA ~1,300 employees located primarily in CA, MA, VA, AL and Germany Expecting
Slide 4: Slide 4 © 2022 AeroVironment, Inc. – Proprietary Information
210510 Slide 4 © 2022 AeroVironment, Inc. – Proprietary Information
Slide 5: Investment Thesis
Investment Thesis o Near term • Strong organic growth (top & bottom line) and a leader in our markets • Most product lines are expected to grow organically this fiscal year • Expecting strong international growth based on US, NATO and Ukraine demand • Growing defense budgets due to increased global
Slide 6: Business Segments Support Mission-critical Applications
Business Segments Support Mission-critical Applications SEGMENT MILITARY COMMERCIAL Leading global solution provider with the largest installed base of systems globally; Small Unmanned Aircraft Continuing to expand and grow our business by securing new requirements in U.S. Systems and international
Slide 7: Small Unmanned Aircraft Systems (SUAS)
SMALL UNMANNED AIRCRAFT SYSTEMS (SUAS) o Global Leader with product line generating $178M or 40% of Company KEY revenue in fiscal 2022 FACTS o Product Line includes multiple fixed wing and rotary aircraft with varying flight times, payloads/sensors and mission sets classified as Group 1 and 2 UAVs o
Slide 8: Medium UAS
AEROVIRONMENT, INC. PROPRIETARY INFORMATION SUBJECT TO EXPORT CONTROL LAWS: This INFORMATION. document, which includes any attachments and exhibits No further distribution or copying of this hereto, contains information subject to the International document or any part thereof is permitted Traffic i
Slide 9: Medium Unmanned Aircraft Systems (MUAS)
MEDIUM UNMANNED AIRCRAFT SYSTEMS (MUAS) KEY o Acquired Arcturus UAV - leading provider of UAS and related services to Group 2 and Group 3 markets FACTS o Primary revenue today from “COCO” Service (Contractor Owned Contractor Operated) to U.S. Special Operations Command on MEUAS IV ISR services progr
Slide 10: Tactical Missile Systems
Tactical Missile Systems AEROVIRONMENT, INC. PROPRIETARY INFORMATION. No further distribution or copying of this document or any part thereof is permitted absent the prior written consent of AeroVironment, Inc. Furthermore, this material contains trade secrets and/or commercial or financial informat
Slide 11: Tactical Missile Systems (TMS)
TACTICAL MISSILE SYSTEMS (TMS) o AV invented the category 10 years ago and leads the market KEY FACTS o Lethal, high-precision, rapidly deployable loitering munition in use by U.S. armed forces for a decade o Product line consists of Switchblade® 300, 600, and BlackWing ® (submarine launch UAV) o FY
Slide 12: Financial Overview
FINANCIAL OVERVIEW 210510 Slide 12 © 2022 AeroVironment, Inc. – Proprietary Information
Slide 13: Guidance: Fiscal 2023 Outlook
GUIDANCE: FISCAL 2023 OUTLOOK Fiscal Year 2022 Expected % Change As of 4/30/2022 FY23 Guidance Results (to midpoint) Revenue $446 million $490 million - $520 million 13% Net Income/(Loss) ($4 million) $11 million – $18 million --- Adjusted EBITDA 1, 2 $62 million $82 million – $92 million 43% Earnin
Slide 14: Revenue and Non-GAAP EPS (Continuing Ops)
Revenue and Non-GAAP EPS (Continuing Ops) Revenue ($ Millions) Non-GAAP EPS $446 o Continued double digit revenue $395 growth $367 $314 o FY22 organic growth was negative $2.10 as a result of supply chain issues $268 $1.84 and reduced U.S. SUAS demand. $1.48 $1.25 o FY22 Revenue growth came as a res
Slide 15: Adjusted EBITDA and EBITDA Margin
Adjusted EBITDA and EBITDA Margin Adj EBITDA ($ Millions) $79 Adj EBITDA Margin o Historically strong Adjusted $65 $62 EBITDA Margins $57 o FY22 Adjusted EBITDA Margins impacted by lower gross margins $41 as a result mix shift to lower 20% margin service revenues. 18% 18% 15% o Also negatively impac
Slide 16: Mix of Product and Service Revenues
Mix of Product and Service Revenues Product Revenue Service Revenue Adjusted Gross Margin 29% 33% 30% 29% 46% o Shift to higher service mix as a result of acquisitions and lower 42% 43% 40% 41% SUAS product sales. 36% o Higher mix of service negatively impacted Adjusted Gross Margins. 71% 67% 70% 71
Slide 17: Questions?
Questions? 210510 Slide 17 © 2022 AeroVironment, Inc. – Proprietary Information
Slide 18: Videos
Videos Small UAS Medium UAS Tactical Missile Systems 210510 Slide 18 © 2022 AeroVironment, Inc. – Proprietary Information
Slide 19: Appendix C – GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin
APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN 052620 Slide 19 © 2022 AeroVironment, Inc.
Slide 20: Appendix F – GAAP to Non-GAAP Reconciliation of Adjusted EBITDA
APPENDIX F – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED EBITDA 210510 Slide 20 © 2022 AeroVironment, Inc. – Proprietary Information
Slide 21: Appendix G – GAAP to Non-GAAP EPS Reconciliation Table
APPENDIX G – GAAP TO NON-GAAP EPS RECONCILIATION TABLE 210510 Slide 21 © 2022 AeroVironment, Inc. – Proprietary Information