Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q1 FY2022 Earnings Presentation

13 slides from Aerovironment's earnings presentation, Sep 8, 2021

  1. Slide 1: First Quarter Fiscal Year 2022 Earnings Presentation

    FIRST QUARTER FISCAL YEAR 2022 EARNINGS PRESENTATION Sept 8, 2021 052620 Slide 1 © 2021 AeroVironment, Inc,

  2. 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

  3. Slide 3: 1st Quarter Fiscal Year 2022 Key Messages

    1ST QUARTER FISCAL YEAR 2022 KEY MESSAGES o Strong Q1 Performance – In line with previously communicated expectations o Record backlog including both organic and inorganic growth o Successfully integrating recent acquisitions o On track to achieve FY22 plans while delivering on another year of top l

  4. Slide 4: First Quarter Results Fiscal Year 2022

    FIRST QUARTER RESULTS FISCAL YEAR 2022 Year-Over- Metric Q1 FY22 Notes Year Change Revenue $101 million +16% Consistent with plan Increased amount of lower margin services, unfavorable Gross profit $29 million -19% product mix and purchase accounting impact led to lower gross profit margin Affected

  5. 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% 33% 29% 26% 29% 47% $140,000 $136,015 90% 44% 44% 45% Percentage Quarterly Revenue Revenue in thousands $120,000 80% 40% 40% $101,009 70% 36% 35% $100,000 $92,665 $87,450 Gross Margin $78,782 60%

  6. Slide 6: Adjusted Profitability by Type and Non-GAAP EPS

    ADJUSTED PROFITABILITY BY TYPE AND NON-GAAP EPS 60% $0.55 51% Percentage Adjusted Gross Margin 49% 50% $0.45 46% 45% 46% 42% 40% $0.35 Non-GAAP Diluted EPS 40% 41% 37% $0.25 35% 32% 0.442 30% 32% 31% 30% $0.15 20% 22% $0.05 10% $(0.05) -0.173 $(0.15) 0% Q1 FY21 Q2 FY21 Q3 FY21 Q4 FY21 Q1 FY22 $(0.25

  7. Slide 7: Visibility Increased Slightly from Last Quarter and Supports Full Year Expectations

    VISIBILITY INCREASED SLIGHTLY FROM LAST QUARTER AND SUPPORTS FULL YEAR EXPECTATIONS $600 Revenue Guidance Range as of 9/8/21: $560 million to $580 million $500 Revenue (millions) $400 66% visibility 1 Revenue Anticipated This FY from Unfunded Backlog 61% visibility 1 $39.9 $43.1 $18.4 Revenue Antici

  8. Slide 8: Guidance Reaffirmed: Fiscal 2022 Outlook

    GUIDANCE REAFFIRMED: FISCAL 2022 OUTLOOK Fiscal Year 2021 Fiscal Year 2022 Expected Change As of 6/29/21 Results Expectations 2 (to midpoint) Revenue $395 million $560 million - $580 million +44% Net Income from continuing operations $23 million $29 - $34 million +35% Adjusted EBITDA 1 $72 million $

  9. Slide 9: Investor Relations

    Investor Relations ir@avinc,com 052620 Slide 9 © 2021 AeroVironment, Inc, +1 (805) 520-8350

  10. Slide 10: Appendix A – Reconciliation of Non-GAAP (Loss) Earnings per Diluted Share

    APPENDIX A – RECONCILIATION OF NON-GAAP (LOSS) EARNINGS PER DILUTED SHARE (UNAUDITED) Three Months Ended Three Months Ended July 31, 2021 August 1, 2020 (Loss) earnings per diluted share $ (0.57) $ 0.42 Acquisition-related expenses 0.11 — Amortization of acquired intangible assets and other purchase

  11. Slide 11: Appendix B – Reconciliation of Non-GAAP Diluted EPS Expectations

    APPENDIX B – RECONCILIATION OF FISCAL YEAR 2022 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) Fiscal year ending April 30, 2022 Forecast earnings per diluted share $ 1.15 – 1.35 Acquisition-related expenses 0.17 Amortization of acquired intangible assets and other purchase accounting

  12. Slide 12: Appendix C – Reconciliation of Adjusted Gross Margin

    APPENDIX C – RECONCILIATION OF ADJUSTED GROSS MARGIN Fiscal 1st Quarter Fiscal 2nd Quarter Fiscal 3rd Quarter Fiscal 4th Quarter Fiscal 1st Quarter (in thousands) FY 2021 FY 2021 FY 2021 FY 2021 FY 2022 Adjusted Gross Margin Products Gross Margin $ 26,273 $ 31,319 $ 22,602 $ 48,980 $ 20,526 Intangib

  13. Slide 13: Appendix D – Reconciliation of Adjusted EBITDA

    APPENDIX D – RECONCILIATION OF ADJUSTED EBITDA Fiscal year ending Fiscal year ending (in millions) April 30, 2022 April 30, 2021 Net income $ 29 - 34 $ 23 Interest expense, net 5 1 Provision for income taxes 1 1 Depreciation and amortization 65 19 EBITDA (Non-GAAP) 100 - 105 44 HAPSMobile Inc. JV im

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