Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q3 FY2021 Earnings Presentation
13 slides from Aerovironment's earnings presentation, Mar 9, 2021
Slide 1: Third Quarter Fiscal Year 2021 Earnings Presentation
THIRD QUARTER FISCAL YEAR 2021 EARNINGS PRESENTATION March 9, 2021 052620 Slide 1 © 2021 AeroVironment, Inc.
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
Slide 3: Third Quarter Fiscal Year 2021 Key Messages
THIRD QUARTER FISCAL YEAR 2021 KEY MESSAGES 1. Continue to deliver strong results despite continued challenges presented by the COVID-19 pandemic 2. On track to achieve fiscal year 2021 objectives while delivering fourth consecutive year of profitable, double-digit, topline growth 3. Successfully ex
Slide 4: Third Quarter Fiscal Year 2021 Results
THIRD QUARTER FISCAL YEAR 2021 RESULTS Third Quarter Year-Over- Metric Notes Fiscal Year 2021 Year Change Revenue $78.8 million +27% Healthy demand across our portfolio Gross profit $28.6 million +22% Increase in revenue resulted in higher gross profit Higher revenue, partially offset by increased a
Slide 5: Update on Strategic Acquisitions
UPDATE ON STRATEGIC ACQUISITIONS Acquisition Status Benefits • Expands AeroVironment’s reach into more than $1 billion annual Group 2 and 3 segments1 • Increases program diversification with key USSOCOM and US Army customers Arcturus UAV Closed 2/19/21 • Introduces attractive contractor-owned, contr
Slide 6: Year-over-year increases in Small UAS and TMS revenue offset lower HAPS and other
YEAR-OVER-YEAR INCREASES IN SMALL UAS AND TMS REVENUE OFFSET LOWER HAPS AND OTHER REVENUE Quarterly Revenue By Product Line $160,000 $135,223 $140,000 Revenue in thousands $120,000 $100,000 $87,450 $92,665 $78,782 $80,000 $61,891 $60,000 $40,000 $20,000 $- Q3 FY20 Q4 FY20 Q1 FY21 Q2 FY21 Q3 FY21 Oth
Slide 7: Increase in third quarter non-GAAP EPS from higher revenue
INCREASE IN THIRD QUARTER NON-GAAP EPS FROM HIGHER REVENUE, OFFSETTING LOWER GROSS MARGIN 100% 50% $0.16 90% 45% $0.14 Percentage of Quarterly Revenue 80% 40% $0.12 70% 35% Non-GAAP Diluted EPS Gross Margin $0.10 60% 30% 50% 25% $0.08 0.14* 40% 20% $0.06 30% 15% $0.04 20% 10% $0.02 10% 5% 0% 0% $- -
Slide 8: Visibility advances toward increased full fiscal year revenue expectations
VISIBILITY ADVANCES TOWARD INCREASED FULL FISCAL YEAR REVENUE EXPECTATIONS Revised Revenue Guidance Range as of 3/9/21: $400 95% visibility $400 million to $410 million $20.5 83% visibility 1 $27.8 $30.3 $300 71% visibility 1 $3.8 $75.7 Revenue (millions) Revenue Anticipated This FY from Unfunded Ba
Slide 9: Fiscal Year 2020 Results & Expectations for Fiscal Years 2021 & 2022
FISCAL YEAR 2020 RESULTS & EXPECTATIONS FOR FISCAL YEARS 2021 & 2022 Fiscal Year 2020 Fiscal Year 2021 Fiscal Year 2022 As of 3/9/21 Actuals Expectations1 Preliminary Expectations1 Revenue $367 million $400 million - $410 million $560 million - $580 million Net Income from continuing operations $41
Slide 10: Investor Relations
Investor Relations ir@avinc.com 052620 Slide 10 © 2021 AeroVironment, Inc. +1 (805) 520-8350
Slide 11: Appendix A – Reconciliation of Non-GAAP Diluted Earnings Per Share
APPENDIX A – RECONCILIATION OF NON-GAAP DILUTED EARNINGS PER SHARE (UNAUDITED) Three Months Ended Three Months Ended Nine Months Ended Nine Months Ended January 30, 2021 January 25, 2020 January 30, 2021 January 25, 2020 Earnings per diluted share $ 0.01 $ (0.04) $ 0.51 $ 0.98 Acquisition related ex
Slide 12: Appendix B – Reconciliation of Fiscal Year 2021 Non-GAAP Diluted EPS Expectations
APPENDIX B – RECONCILIATION OF FISCAL YEAR 2021 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED) Fiscal year ending April 30, 2021 Forecast earnings per diluted share $ 0.76 – 0.96 Acquisition related expenses 0.40 Amortization of acquired intangible assets 0.23 HAPSMobile Inc. joint ven
Slide 13: Appendix C – Reconciliation of Non-GAAP Adjusted EBITDA
APPENDIX C – RECONCILIATION OF FISCAL YEAR 2020 ACTUAL AND 2021- 2022 FORECAST NON-GAAP ADJUSTED EBITDA (UNAUDITED) Fiscal year ending Fiscal year ending Fiscal year ending April April 30, 2021 April 30, 2022 30, 2020 (expectations1) (preliminary expectations1) (in millions) Net income from continui