Aerovironment, Inc. · NASDAQ:AVAV
Aerovironment — Q2 2025 Earnings Presentation
14 slides from Aerovironment's earnings presentation, Dec 4, 2024
Slide 1: Second Quarter Fiscal Year 2025
SECOND QUARTER Fiscal Year 2025 December 4, 2024 093024 Slide 1 © 2024 AeroVironment, Inc.
Slide 2: Safe Harbor Statement
SECOND QUARTER FISCAL YEAR 2025 Safe Harbor Statement Certain words in this presentation may contain "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, f
Slide 3: Additional Information
Additional Information ADDITIONAL INFORMATION AND WHERE TO FIND IT This presentation references the proposed transaction between AeroVironment and BlueHalo. In connection with the proposed transaction, AeroVironment will file with the SEC a registration statement on Form S-4, which will include a pr
Slide 4: Second Quarter Fiscal Year 2025 Key Messages
SECOND QUARTER FISCAL YEAR 2025 Second Quarter Fiscal Year 2025 Key Messages Record second-quarter revenue of $467M in funded backlog and $188M, a 4% increase over Q2 $1.8B in unfunded backlog; FY24 pipeline remains robust Loitering Munition Systems Given strong execution and segment continues to le
Slide 5: Second Quarter Results
SECOND QUARTER FISCAL YEAR 2025 Second Quarter Results YEAR-OVER- METRIC Q2 FY25 YEAR CHANGE NOTES Overall increase driven by higher product sales in LMS and MW, Revenue $188.5M +4% offset by a decrease in UxS. Slightly lower due to a decrease in UxS revenue, partially offset by GAAP Gross Margin $7
Slide 6: Revenue Mix by Segment and Type
SECOND QUARTER FISCAL YEAR 2025 Revenue Mix by Segment and Type QUARTERLY REVENUE BY SEGMENT QUARTERLY REVENUE BY TYPE $250.0 100% 60% 90% 19% 16% 16% 16% 20% $197.0 50% $200.0 $186.6 $189.5 $188.5 80% $180.8 Percentage Quarterly Revenue 43% Revenue in millions 70% 42% 39% 40% $150.0 38% Gross Margi
Slide 7: Adjusted Profitability by Type and Non-GAAP EPS
SECOND QUARTER FISCAL YEAR 2025 Adjusted Profitability by Type and Non-GAAP EPS PERCENTAGE ADJUSTED GROSS MARGIN 1 NON-GAAP DILUTED EPS 2 60% $1.00 $0.97 50% 47% 48% $0.80 44% 43% 40% 41% 38% 45% 40% 38% 40% 41% 38% $0.60 $0.47 28% 29% 28% 30% $0.40 20% $0.20 10% 0% $- Q2 FY24 Q3 FY24 Q4 FY24 Q1 FY2
Slide 8: Maintaining Revenue, Adjusted EBITDA and Adjusted EPS Guidance: Fiscal 2025 Outlook
SECOND QUARTER FISCAL YEAR 2025 Maintaining Revenue, Adjusted EBITDA and Adjusted EPS Guidance: Fiscal 2025 Outlook EXPECTED % CHANGE AS OF 12/4/2024 FY24 RESULTS FY25 GUIDANCE (TO MIDPOINT) Revenue $717 million $790 million – $820 million 12% Adjusted EBITDA $128 million1 $143 million – $153 millio
Slide 9: Visibility for FY25
SECOND QUARTER FISCAL YEAR 2025 Visibility for FY25 REVENUE (MILLIONS) $900 95% Visibility1 $800 Revenue $29.4 $16.3 Guidance Range: $700 80% Visibility1 $790 to $820 Million $41.1 Company $600 visibility $99.0 $338.1 (as of Dec. 4, 2024) $500 55% Visibility1 supports revenue $29.9 guidance range $4
Slide 10: Appendix
093024 Slide 10 © 2024 AeroVironment, Inc.
Slide 11: Appendix A – Press Release Table
FINANCIAL TABLES APPENDIX A – PRESS RELEASE TABLE Reconciliation of Non-GAAP Earnings per Diluted Share (Unaudited) Three Months Ended Three Months Ended October 26, 2024 October 28, 2023 Earnings per diluted share $ 0.27 $ 0.66 Acquisition-related expenses 0.10 0.03 Amortization of acquired intangi
Slide 12: Appendix B
FINANCIAL TABLES APPENDIX B GAAP to Non-GAAP Reconciliation of Adjusted Gross Margin (Unaudited) Fiscal 2nd Quarter Fiscal 3rd Quarter Fiscal 4th Quarter Fiscal 1st Quarter Fiscal 2nd Quarter (in thousands) FY2024 FY2024 FY2024 FY2025 FY2025 Products Gross Margin $ 66,747 $ 56,437 $ 64,550 $ 73,985
Slide 13: Appendix C
FINANCIAL TABLES APPENDIX C Historical Non-GAAP Adjusted EBITDA Reconciliation (Unaudited) Fiscal 2nd Quarter Fiscal 3rd Fiscal 4th Full Fiscal Year Fiscal 1st Fiscal 2nd (in thousands) FY2024 Quarter FY2024 Quarter FY2024 FY2024 Quarter FY2025 Quarter FY2025 Net Income from continued operations $ 1
Slide 14: Appendix D
FINANCIAL TABLES APPENDIX D Reconciliation of Fiscal Year 2024 Non-GAAP Earnings per Diluted Share (Unaudited) Fiscal Year Ended April 30, 2024 Earnings per diluted share $ 2.18 Acquisition-related expenses 0.06 Amortization of acquired intangible assets 0.54 Equity method and equity securities inve