Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q1 FY2021 Earnings Presentation
18 slides from Aerovironment's earnings presentation, Sep 9, 2020
Slide 1: First Quarter Fiscal 2021 Investor Overview
AEROVIRONMENT First Quarter Fiscal 2021 Investor Overview PRESENTER September NAME 9, 2020 6 May 2020 © 2020 AeroVironment, Inc. 061820 052620 Slide 1 © 2020 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: Table of Contents
Table of Contents AeroVironment Overview…. Slide 4 Fiscal 2021 Drivers…. Slide 12 Financial Summary…. Slide 13 061820 052620 Slide 3 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 4: AeroVironment Overview
AEROVIRONMENT Overview 061820 052620 Slide 4 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 5: Slide 5 © 2020 AeroVironment, Inc. – Proprietary Information
061820 052620 Slide 5 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 6: A Success Story Spanning Nearly 50 Years of Innovation: 1971-2020
A Success Story Spanning Nearly 50 years of Innovation: 1971-2020 1977 1981 1986 1995 2001 2005 2010 2016 Gossamer Solar Pointer Pathfinder/ Helios Global Observer Global 2012 Blackwing™ 2019 Condor Challenger st Pathfinder Plus Prototype Observer® 1 st submarine- 1st controlled World Records: 1 bac
Slide 7: AeroVironment Investment Thesis
AeroVironment Investment Thesis o A profitable, pure-play unmanned robotics company o The global leader in selected markets, at the forefront of multiple large, global growth opportunities o Strong financial position and performance enabling our growth strategy o Demonstrated track record of capital
Slide 8: Small Unmanned Aircraft Systems: Majority Share
SUAS Small Unmanned Aircraft Systems 61% Majority Share of fiscal year 2020 company revenue of all unmanned aircraft in U.S. Dept. of Defense inventory1 1 Source: United States Department of Defense Unmanned Systems Roadmap 2013-2038, page 5 061820 052620 Slide 8 © 2020 AeroVironment, Inc. – Proprie
Slide 9: Robust & Diversified International Revenue
Robust & Diversified International Revenue o Small UAS customers 100% 50 in 50 allied nations - 80% 40 most with additional 48% Allied Nations 53% 55% 64% procurement potential 71% Revenue 60% 30 40% 20 o International revenue 20% 36% 47% 52% 45% 10 29% driven mainly by small 0% 0 UAS in Fiscal Year
Slide 10: TMS Tactical Missile Systems
TMS Tactical Missile Systems 17% of fiscal year 2020 company revenue Switchblade® Ground and Air Vehicle Integration • Lethal, high-precision, rapidly deployed munition • Working with General Dynamics Land Systems to • In use by United States armed forces integrate Switchblade into next generation a
Slide 11: HAPS Continued Progress Flight Test Phase
HAPS Continued Progress Flight Test Phase Pathfinder 1997 Pathfinder Plus 1998 Helios 2001 SoftBank Corp. owns approximately 93% of HAPSMobile Inc. & AeroVironment owns approximately 7% 71,504 feet 80,201 feet 96,863 feet Flight test phase underway - Sunglider solar World’s first solar-powered World
Slide 12: Fiscal 2021 Drivers
Fiscal 2021 Drivers o Continued focus on executing our growth strategy o Strength in international end markets o Tactical Missile System growth o Continued evaluation of strategic investments 061820 052620 Slide 12 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 13: Financial Summary
FINANCIAL SUMMARY 061820 052620 Slide 13 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 14: Profitable Growth Driven by Innovation & Strategic Investments
Profitable Growth Driven by Innovation & Strategic Investments $400 $2.00 EPS Attributable to AeroVironment – Diluted (whole $350 $1.80 $1.60 Revenue ($Millions) $300 $1.40 $250 $1.20 dollars) $200 $1.00 $150 $0.80 $0.60 $100 $0.40 Increased strategic $50 investments $0.20 in FY16 & FY17 $- $- 2016
Slide 15: Fiscal Year 2021 Quarterly Results (Continuing Operations)
Fiscal Year 2021 Quarterly Results (Continuing Operations) In $ Millions (except EPS) Qtr. 1 Qtr. 2 Qtr. 3 Qtr. 4 YTD Revenue $87.5 - - - $87.5 Gross Margin $35.4 - - - $35.4 Gross Margin % 40% - - - 40% Income (Loss) from Operations $12.3 - - - $12.3 Operating Margin % 14% - - - 14% Net Income (Los
Slide 16: A Strong Balance Sheet is Essential to our Growth Strategy
A Strong Balance Sheet is Essential to our Growth Strategy in cash, equivalents, $338 million restricted cash and investments August 1, 2020 April 30, unaudited 2020 Current Assets Cash and cash equivalents $246,839 $255,142 No debt Short-term investments $71,334 $47,507 Available-for-sale long-term
Slide 17: For more information
For more information: Steven Gitlin Vice President Investor Relations ir@avinc.com +1 (805)520-8350 061820 052620 Slide 17 © 2020 AeroVironment, Inc. – Proprietary Information
Slide 18: Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share
Appendix – Reconciliation of Non-GAAP Diluted Earnings Per Share (Unaudited) Three Months Ended Three Months Ended August 1, 2020 July 27, 2019 Earnings per diluted share from continuing operations $ 0.42 $ 0.71 Acquisition related expenses - 0.01 Amortization of acquired intangible assets 0.02 0.02