Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Investor Presentation (September 2026)

23 slides from Aerovironment's investor presentation, Sep 9, 2026

  1. Slide 1: Investor Overview

    Investor Overview [ 1] © 2026 AEROVIRONMENT, INC.

  2. Slide 2: Safe Harbor Statement

    This presentation contains "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 imply future results, performan ce or achievement

  3. Slide 3: AV Company Overview

    FY26 Revenue Breakdown ($M) AV Company Overview By Segment SCDE 619 (31%) BUSINESS SEGMENTS 4,000 STRENGTHS & AXS EMPLOYEES AxS SCDE DIFFERENTIATORS 1,358 Autonomous Space, Cyber (69% ) Battlefield Experience 18 Systems & Directed Energy GLOBAL MANUFACTURING Trusted supplier with By Geography LOCATI

  4. Slide 4: Diversified Portfolio in Growth Areas Aligned to Customer Priorities

    Diversified Portfolio in Growth Areas Aligned to Customer Priorities Multi-Mission ISR Precision Strike Counter-UAS Space & Advanced Technologies Software Foundation Layer [ 4] © 2026 AEROVIRONMENT, INC.

  5. Slide 5: At a Glance: Autonomous Systems (AxS)

    At a Glance Segment Highlights Autonomous Systems ( AxS ) Revenue $ 1.36 B FY26 ACTUAL REVENUE 42,000+ Precision Strike Uncrewed Systems Other PLATFORMS FIELDED & Defensive Systems Addressable Market $ 32 B FY30 SERVICEABLE OBTAINABLE MARKET JUMP 20-X AVACORE +22% 5- YEAR SOM CAGR Switchblade Red Dr

  6. Slide 6: At a Glance: Space, Cyber and Directed Energy (SCDE)

    At a Glance Segment Highlights Space, Cyber and Directed Energy (SCDE) Revenue $ 619 M FY26 ACTUAL REVENUE 270+ Space & Directed Energy Cyber & Mission Solutions ON- ORBIT SPACE SYSTEMS Addressable Market $ 18 B FY30 SERVICEABLE OBTAINABLE MARKET +12% 5- YEAR SOM CAGR BADGER Cyber Solutions Phased a

  7. Slide 7: AV Investment Case

    AV Investment Case 01 02 Trusted Defense Partner Diversified, Mission-Aligned Portfolio Proven track record of delivering on Positioned across multiple defense domains commitments to our most demanding and aligned with our customers’ highest customers over multiple decades. priorities. 03 04 Strong

  8. Slide 8: Strategic Priorities: Path to ~$4B in FY30

    Lead with Innovation. Strategic Priorities: Path to ~$4B in FY30 Develop best - in- class innovative software and hardware solutions aligned to our customer's current and future needs. Capture Growth. Increase global market share. Execute with Excellence. Optimize and align the portfolio to our cust

  9. Slide 9: Leading in Innovation: Investing in Next-Gen Capabilities on Proven Platforms

    Leading in Innovation: Investing in Next - Gen Capabilities & Enhancements on Proven Platforms AUTONOMY | COMMAND & CONTROL SYNTHETIC TRAINING | AI & MACHINE LEARNING Balanced IRAD GROUP 2 UAS GROUP 3 UAS Software spend across new Multi-Mission ISR and existing platforms. Space & Advanced Tech FY27

  10. Slide 10: Capturing Growth: AV Positioned to Capture Growth through FY30

    Capturing Growth: AV Positioned to Capture Growth through FY30 AV’s SOM forecast ~$50B: ~18% CAGR through FY30 U.S. DoW investments significantly increasing | International defense spend increasing 12% YoY DATA SOURCE: RENAISSANCE STRATEGIC ADVISORS (RSA) / AV ANALYSIS [ 10 ] © 2026 AEROVIRONMENT, I

  11. Slide 11: Executing with Excellence: Investing in Expansion Efforts Ahead of Growth Periods

    Executing with Excellence: Investing in Expansion Efforts Ahead of Growth Periods MANUFACTURING ~$283M CAPACITY EXPANSION +$4B FY27 ORGANIC CAPITAL INVESTMENT INCREMENTAL CAPACITY TO DRIVE REVENUE GROWTH Disciplined Capital Allocation Builds Defense Industrial Base Capacity Expansion: Infrastructure

  12. Slide 12: Manufacturing Investments Support FY30 Strategic Growth Goals

    Manufacturing Investments Support FY30 Strategic Growth Goals Investing ~$130M of FY27 Scaling production capacity CapEx to lay across major SALT LAKE CITY,UT DAYTON,OH foundation for steep locations with PETALUMA,CA scaling trajectory to POTTSTOWN,PA ~$65M facilities ~$4B mfg. capacity by FY30 CapE

  13. Slide 13: Summary: Invest, Scale and Deliver on $50B+ SOM by FY30

    Summary: Invest, Scale and Deliver on $50B+ SOM by FY30 Invest in next-gen Leverage market position Scale for future growth and capabilities. and set foundation for deliver on time. franchise growth. Continue industry - leading IRAD Leverage strong strategic alignment Expand manufacturing capacity a

  14. Slide 14: Q1 FY27 Performance and FY27 Outlook

    Q1 FY27 Performance and FY27 Outlook

  15. Slide 15: Major Awards Announced First Quarter 2027

    Major Awards Announced First Quarter 2027 PRECISION STRIKE & UNCREWED AIRCRAFT SPACE AND DEFENSIVE SYSTEMS SYSTEMS DIRECTED ENERGY $500M $117M $464M Joint Interagency Task Force U.S. Army awarded P550 AV’s LOCUST® selected for 401 (JIATF - 401) has selected contract for the Long - Range Army C - UAS

  16. Slide 16: First Quarter Fiscal Year 2027 Results

    First Quarter Fiscal Year 2027 Results Metric Q1 FY27 Notes Revenue $480.5 M o 6% YoY revenue growth, driven by 21% YoY sales increase from AxS GAAP Gross Margin $124.6 M o 31% YoY increase driven by strong contributions from AxS Non - GAAP o First- quarter adjusted EBITDA margin of 11% driven by hi

  17. Slide 17: Guidance: Fiscal 2027 Outlook

    Guidance: Fiscal 2027 Outlook As of 09/9/2026 Q1 FY27 Results FY27 Guidance (unchanged from Q4) Notes / Assumptions $2.125 B to $2.225 B Revenue $480.5 M 10% year- over- year growth at midpoint o 1HFY27 = 45%; 2HFY27 = 55% o IRAD guidance remains 7% to 9%​ of revenue Adjusted EBITDA 1 $53.4 M $305 M

  18. Slide 18: Reconciliation of Non-GAAP Earnings per Diluted Share

    APPENDIX A - FINANCIAL TABLES Reconciliation of Non - GAAP Earnings per Diluted Share (unaudited) 1st Quarter 1st Quarter FY2026 FY2027 Loss per diluted share $ (1.44) $ (0.10) Acquisition - related expenses 0.52 0.04 Amortization of acquired intangible assets 1.34 0.69 and other purchase accounting

  19. Slide 19: GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin

    APPENDIX B - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Adjusted Gross Margin 1st Quarter 1st Quarter Products FY2026 FY2027 Gross Margin $ 82.8 $ 115.5 Intangible amortization and acquisition related $ 31.3 $ 15.9 expense Adjusted Gross Margin $ 114.1 $ 131.4 Adj. Prod GM% 36% 40% Servic

  20. Slide 20: Net Income to EBITDA and Non-GAAP Adjusted EBITDA Reconciliation

    APPENDIX C - FINANCIAL TABLES Net Income to EBITDA and non - GAAP Adjusted EBITDA Reconciliation 1st Quarter 1st Quarter [$M] FY2026 FY2027 Net loss $ (67.4) $ (5.1) Interest expense (income), net 17.4 (4.1) Tax benefit (15.2) (0.4) Depreciation 10.6 12.6 Amortization 79.7 43.4 EBITDA (Non - GAAP) 2

  21. Slide 21: GAAP to Non-GAAP Reconciliation of Earnings per Diluted Share

    APPENDIX D - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Earnings per Diluted Share (Unaudited) FY2027 Full Year Non - GAAP FY2026 Forecast Earnings (loss) per diluted share (GAAP) $ (5.40) $ 0.21 - 0.53 Acquisition - related expenses 0.89 0.15 Amortization of acquired intangible assets an

  22. Slide 22: Reconciliation of 2027 Forecast and Fiscal Year 2026 Non-GAAP Adjusted EBITDA

    APPENDIX E - FINANCIAL TABLES Reconciliation of 2027 Forecast and Fiscal Year 2026 Non - GAAP adjusted EBITDA (Unaudited) FY2026 FY2027 Full Year Non - GAAP [$M] Forecast Net (loss) income from continued operations $ (265) $ 10 - 27 Interest expense (income), net 6 (10) Tax (benefit) provision (23)

  23. Slide 23: GAAP to Non-GAAP Reconciliation of Adjusted SG&A

    APPENDIX G - FINANCIAL TABLES GAAP to Non - GAAP Reconciliation of Adjusted SG&A (Unaudited) 1st Quarter 1st Quarter FY2027 Full Year Non - [$M] FY2026 FY2027 FY2026 GAAP Forecast SG&A Reconciliation Revenue $ 454.7 $ 480.5 $ 1,976.8 $ 2,125 – 2,225 Total SG&A 131.3 111.5 443.3 415 – 473 Total SG&A

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