AeroVironment Announces Fiscal 2026 Fourth Quarter and Fiscal Year Results

About this update from Aerovironment, Inc.

AeroVironment, Inc. (NASDAQ: AVAV) (“AeroVironment” or the “Company”) reported today financial results for the fiscal fourth quarter and year ended April 30, 2026. Fourth Quarter Highlights: Record fourth quarter revenue of $641.6 million and fiscal year revenue of $1,976.8 million, up 133% and 141% year-over-year, respectively Bookings of $2.7 billion and book-to-bill ratio of 1.4 for the fiscal year Funded backlog of $1.2 billion “Fiscal 2026 marked a transformational year for AV, which included the completion of our largest acquisition, meaningful investments toward diversifying our portfolio in critical areas aligned to our customer’s highest priorities, and the strongest financial performance in our history,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “We are confident our proven ability to deliver at speed will continue to drive opportunities for AV across our global customer base. “We remain focused on executing with excellence and strengthening our supply chain to accelerate the commercialization of our platforms. AV is well-positioned to capture the rising global demand across lethal and non-lethal drones, counter-UAS, space and advanced technologies and deliver long-term shareholder value.” FISCAL 2026 FOURTH QUARTER RESULTS Revenue for the fourth quarter of fiscal 2026 was $641.6 million and $2.0 billion for the fiscal year. Revenue for fourth quarter of fiscal 2026 increased 133% as compared to $275.1 million for the fourth quarter of fiscal 2025, due to higher product sales of $256.7 million and higher service revenue of $109.8 million. The combined acquisitions of BlueHalo on May 1, 2025 and Empirical Systems Aerospace, Inc. on March 16, 2026 contributed $282.3 million of revenue to the current quarter. From a segment standpoint, Autonomous Systems (“AxS”) recorded revenue of $492.4 million and Space, Cyber and Directed Energy (“SCDE”) recorded revenue of $149.2 million. Gross margin for the fourth quarter of fiscal 2026 was $202.6 million, an increase of 102% as compared to $100.3 million for the fourth quarter of fiscal 2025, reflecting higher product margin of $120.3 million offset by lower service margin of $(18.0) million. Fiscal 2026 fourth quarter gross margin was negatively impacted by $18.4 million of intangible amortization expense and other related non-cash purchase accounting expenses, as co...

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