Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q2 FY2023 Earnings Presentation

14 slides from Aerovironment's earnings presentation, Dec 6, 2022

  1. Slide 1: Second Quarter Fiscal Year 2023 Earnings Presentation

    © 2022 AeroVironment, Inc. Slide 1 052620 SECOND QUARTER FISCAL YEAR 202 3 EARNINGS PRESENTATION December 6, 2022

  2. Slide 2: Forward-looking statements

    © 2022 AeroVironment, Inc. Slide 2 052620 • Certain statements in this presentation may constitute "forward - looking statements" as that term is defined in the Private Secur ities Litigation Reform Act of 1995. Forward - looking statements include, without limitation, any statement that may predict

  3. Slide 3: Second Quarter Fiscal Year 2023 Key Messages

    © 2022 AeroVironment, Inc. Slide 3 052620 o Achieved second quarter and first half results in line with expectations, while continuing to experience strong demand across nearly all product lines o In November, Company received largest FMS contract in company history with $176 million ceiling and $86

  4. Slide 4: Second Quarter Results

    © 2022 AeroVironment, Inc. Slide 4 052620 SECOND QUARTER RESULTS FISCAL YEAR 202 3 Metric Q2 FY23 Year - Over - Year Change Notes Revenue $111.6 million (9%) Decline impacted by lower product sales and service revenue primarily due to decrease in revenue in SUAS segment partially offset by an increa

  5. Slide 5: Revenue Mix by Segment and Type

    © 2022 AeroVironment, Inc. Slide 5 052620 REVENUE MIX BY SEGMENT AND TYPE Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Other $12,009 $16,412 $17,037 $12,772 $17,455 HAPS $10,342 $9,544 $13,087 $10,215 $9,066 TMS $18,418 $18,603 $20,217 $23,011 $31,101 MUAS $26,525 $21,168 $23,083 $19,262 $27,281 SUAS $54

  6. Slide 6: Adjusted Profitability by Type and EPS

    © 2022 AeroVironment, Inc. Slide 6 052620 ADJUSTED PROFITABILITY BY TYPE AND NON - GAAP EPS 48% 37% 49% 45% 38% 27% 23% 28% 21% 12% 39% 30% 40% 34% 27% 0% 10% 20% 30% 40% 50% 60% Q2 FY22 Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Percentage Adjusted Gross Margin 1 Adj Product Margin Adj Service Margin Total Ad

  7. Slide 7: Updated Guidance: Fiscal 2023 Outlook

    © 2022 AeroVironment, Inc. Slide 7 052620 UPDATED GUIDANCE: FISCAL 2023 OUTLOOK As of 12/6/2022 FY22 Results FY23 Revised Guidance Expected % Change (to midpoint) Revenue $ 446 million $505 million - $525 million 15% Net Income/(Loss) ($4 million) $8 million – $17 million --- Adjusted EBITDA 1 $63 m

  8. Slide 8: Visibility for FY23

    © 2022 AeroVironment, Inc. Slide 8 052620 ANTICIPATE ~60% OF SECOND HALF REVENUES IN Q4 WITH INVENTORIES E XPECTED TO GROW AS WE RAMP TO MEET DEMAND. VISIBILITY FOR FY23 $108.5 $220.1 $199.1 $168.2 $171.4 $59.2 $95.1 $77.9 $27.1 $6.1 $3.5 $- $100 $200 $300 $400 $500 $600 Q4 FY22 (6/28/22) Q1 FY23 Q2

  9. Slide 9: Investor Relations

    © 2022 AeroVironment, Inc. Slide 9 052620 Investor Relations ir@avinc , com +1 (805) 520 - 8350

  10. Slide 10: Appendix A – Reconciliation of Fiscal Year 2022 Earnings Per Diluted Share

    © 2022 AeroVironment, Inc. Slide 10 052620 APPENDIX A – RECONCILIATION OF FISCAL YEAR 2022 NON - GAAP EARNINGS PER DILUTED SHARE (UNAUDITED)

  11. Slide 11: Appendix B – Reconciliation of Fiscal Year Diluted EPS Expectations

    © 2022 AeroVironment, Inc. Slide 11 052620 APPENDIX B – RECONCILIATION OF FISCAL YEAR 202 3 NON - GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED)

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

    © 2022 AeroVironment, Inc. Slide 12 052620 APPENDIX C – GAAP TO NON - GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN

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

    © 2022 AeroVironment, Inc. Slide 13 052620 APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION

  14. Slide 14: Appendix E – Reconciliation of Fiscal Year Adjusted EBITDA Expectations

    © 2022 AeroVironment, Inc. Slide 14 052620 APPENDIX E – RECONCILIATION OF NON - GAAP FISCAL YEAR 2023 ADJUSTED EBITDA EXPECTATIONS

AeroVironment — Q2 FY2023 Earnings Presentation on 6ix