Aerovironment, Inc. · NASDAQ:AVAV

Aerovironment — Q3 FY2023 Earnings Presentation

14 slides from Aerovironment's earnings presentation, Mar 6, 2023

  1. Slide 1: Third Quarter Fiscal Year 2023 Earnings Presentation

    Slide 1 © 2023 AeroVironment, Inc. 052620 Third Quarter Fiscal Year 2023 Earnings Presentation March 6, 2023

  2. Slide 2: Safe Harbor Statement

    Slide 2 | © 2023 AeroVironment, Inc. 052620 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

  3. Slide 3: Third Quarter Fiscal Year 2023 Key Messages

    Slide 3 | © 2023 AeroVironment, Inc. 052620 Third Quarter Fiscal Year 2023 Key Messages Achieved third quarter results in line with or slightly ahead of our expectations with record funded backlog over $400 million as of January 28th Narrowing revenue guidance to $510 million - $525 million with 100

  4. Slide 4: Third Quarter Results Fiscal Year 2023

    Slide 4 | © 2023 AeroVironment, Inc. 052620 Third Quarter Results Fiscal Year 2023 1. Q3 net loss $0.7m. Refer to Adjusted EBITDA reconciliation on Appendix D. 2. Q3 GAAP EPS was negative $0.03 per diluted share. Refer to Reconciliation of Non-GAAP Earnings Per Diluted Share on Appendix A. Slide 4 |

  5. Slide 5: Revenue Mix by Segment and Type

    Slide 5 | © 2023 AeroVironment, Inc. 052620 1 HAPS on track to deliver revenues of $35-$40 million for FY23 | 2 Expect FY23 second half decline in MUAS services revenues more than offset by anticipated increases in SUAS and MUAS product revenues Slide 5 | © 2023 AeroVironment, Inc. QUARTERLY REVENUE

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

    Slide 6 | © 2023 AeroVironment, Inc. 052620 Adjusted Profitability by Type and Non-GAAP EPS 37% 49% 45% 38% 41% 23% 28% 21% 12% 30% 26% 40% 34% 27% 36% 0% 10% 20% 30% 40% 50% 60% Q3 FY22 Q4 FY22 Q1 FY23 Q2 FY23 Q3 FY23 Adj Product Margin Adj Service Margin Total Adj Gross Margin 1 Q3 GAAP Product Ma

  7. Slide 7: Updated Guidance: Fiscal 2023 Outlook

    Slide 7 | © 2023 AeroVironment, Inc. 052620 Updated Guidance: Fiscal 2023 Outlook AS OF 3/6/2023 FY22 RESULTS FY23 REVISED GUIDANCE EXPECTED % CHANGE (TO MIDPOINT) Revenue $446 million $510 million - $525 million 16% Net Income/(Loss) ($4 million) $0.3 million – $5 million --- Adjusted EBITDA 1 $63

  8. Slide 8: Visibility for FY23

    Slide 8 | © 2023 AeroVironment, Inc. 052620 Visibility for FY23 $108.5 $220.1 $354.5 $199.1 $168.2 $171.4 $166.3 $59.2 $95.1 $77.9 $27.1 $6.1 $3.5 $2.3 $- $100 $200 $300 $400 $500 $600 Q4 FY22 (6/28/22) Q1 FY23 Q2 FY23 Q3 FY23 Revenue Anticipated This FY from Unfunded Backlog Revenue Anticipated Thi

  9. Slide 9: Financial Tables

    Slide 9 © 2023 AeroVironment, Inc. 052620 Financial Tables

  10. Slide 10: A – Reconciliation of Fiscal Year 2023 and 2022 Non-GAAP Earnings Per Diluted Share

    Slide 10 | © 2023 AeroVironment, Inc. 052620 APPENDIX A – RECONCILIATION OF FISCAL YEAR 2023 AND 2022 NON-GAAP EARNINGS PER DILUTED SHARE (UNAUDITED)

  11. Slide 11: B – Reconciliation of Fiscal Year 2023 Non-GAAP Diluted EPS Expectations

    Slide 11 | © 2023 AeroVironment, Inc. 052620 APPENDIX B – RECONCILIATION OF FISCAL YEAR 2023 NON-GAAP DILUTED EARNINGS PER SHARE EXPECTATIONS (UNAUDITED)

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

    Slide 12 | © 2023 AeroVironment, Inc. 052620 APPENDIX C – GAAP TO NON-GAAP RECONCILIATION OF ADJUSTED GROSS MARGIN

  13. Slide 13: D – Historical Adjusted EBITDA Reconciliation

    Slide 13 | © 2023 AeroVironment, Inc. 052620 APPENDIX D – HISTORICAL ADJUSTED EBITDA RECONCILIATION

  14. Slide 14: E – Reconciliation of Non-GAAP Fiscal Year 2023 Adjusted EBITDA Expectations

    Slide 14 | © 2023 AeroVironment, Inc. 052620 APPENDIX E – RECONCILIATION OF NON-GAAP FISCAL YEAR 2023 ADJUSTED EBITDA EXPECTATIONS

AeroVironment — Q3 FY2023 Earnings Presentation on 6ix