Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q1 2025 Earnings Presentation

15 slides from Aerovironment's earnings presentation, Sep 4, 2024

  1. Slide 1: First Quarter Fiscal Year 2025 Earnings Presentation

    First Quarter Fiscal Year 2025 Earnings Presentation September 4, 2024 Slide 1 | © 2024 AeroVironment, Inc.

  2. Slide 2: Safe Harbor Statement

    Safe Harbor Statement Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact of our ability to successfully close and integrate acquisitions into our operations and avoid disruptions from acquisition transactions t

  3. Slide 3: First Quarter Fiscal Year 2025 Key Messages

    First Quarter Fiscal Year 2025 Key Messages First-quarter revenue of $189 million, a Robust pipeline converting to backlog 24% increase over Q1 FY24 evidenced by AV’s recent Army IDIQ award with a nearly $1B ceiling Loitering Munition Systems segment Given strong execution and growing continues to l

  4. Slide 4: First Quarter Results Fiscal Year 2025

    First Quarter Results Fiscal Year 2025 Year-Over- Metric Q1 FY25 Year Change Notes Overall increase driven by higher product sales in UxS and LMS Revenue $189.5 m +24% segments partially offset by a decrease in MW revenue. GAAP Gross Margin $81.5 m +24% Increase driven by favorable sales volume. In-

  5. Slide 5: Revenue Mix by Segment and Type

    Revenue Mix by Segment and Type QUARTERLY REVENUE BY SEGMENT QUARTERLY REVENUE BY TYPE $250.0 100% 60% 22% 19% 16% 16% 16% Percentage Quarterly Revenue 90% $200.0 $197.0 $189.5 50% $180.8 $186.6 80% $152.3 70% 43% 42% 43% Gross Margin 40% Revenue in millions $150.0 38% 60% 36% 50% 30% $100.0 MW 40%

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

    Adjusted Profitability by Type and Non-GAAP EPS PERCENTAGE ADJUSTED GROSS MARGIN1 NON-GAAP DILUTED EPS2 60% $1.00 $1.00 49% 48% $0.89 50% 47% 45% 40% 41% 43% 38% 38% 45% $0.80 40% 38% 40% 28% 28% 29% 30% $0.60 20% $0.40 10% 0% $0.20 Q1 FY24 Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY25 Adj Product Margin Adj Serv

  7. Slide 7: Maintaining Guidance: Fiscal 2025 Outlook

    Maintaining Guidance: Fiscal 2025 Outlook EXPECTED % CHANGE AS OF 09/4/2024 FY24 RESULTS FY25 GUIDANCE (TO MIDPOINT) Revenue $717 million $790 million - $820 million 12% Net Income $60 million $74 million – $83 million4 31% Adjusted EBITDA $128 million2 $143 million–$153 million4 16% Earnings $2.18

  8. Slide 8: Visibility for FY25

    Visibility for FY25 REVENUE (MILLIONS) $900 Revenue Guidance Range: $800 $790 to $820 million $700 80% visibility 1 Company $41.1 visibility (as of $600 $99.0 September 3, $500 2024) supports 55% visibility 1 Revenue Anticipated This FY revenue guidance $29.9 from Unfunded Backlog $400 $52.4 range $

  9. Slide 9: Financial Tables

    Financial Tables Slide 9 © 2024 AeroVironment, Inc.

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

    APPENDIX A – RECONCILIATION OF NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) Slide 10 | © 2024 AeroVironment, Inc.

  11. Slide 11: Appendix B – Reconciliation of FY2025 Non-GAAP Diluted EPS Expectations

    APPENDIX B – RECONCILIATION OF FISCAL YEAR 2025 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) 052620 Slide 11 | © 2024 AeroVironment, Inc.

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

    APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN 052620 Slide 12 | © 2024 AeroVironment, Inc.

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

    APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION 052620 Slide 13 | © 2024 AeroVironment, Inc.

  14. Slide 14: Appendix E – Reconciliation of Non-GAAP FY2025 Adjusted EBITDA Expectations

    APPENDIX E – RECONCILIATION OF NON-GAAP FISCAL YEAR 2025 ADJUSTED EBITDA EXPECTATIONS 052620 Slide 14 | © 2024 AeroVironment, Inc.

  15. Slide 15: Appendix F – Reconciliation of FY2024 Non-GAAP Earnings per Diluted Share

    APPENDIX F – RECONCILIATION OF FISCAL YEAR 2024 NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED) Fiscal Year Ended April 30, 2024 Earnings (loss) per diluted share $ 2.18 Acquisition-related expenses 0.06 Amortization of acquired intangible assets and other purchase accounting adjustments 0.54 Equity

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