AeroVironment, Inc. Earnings Recaps
Q1 2027
Sep 12, 2026
AV delivered record first-quarter revenue of $480 million and reaffirmed fiscal 2027 guidance, while the stock’s relatively flat 1.2% decline suggests investors viewed the update as broadly in line rather than a material upside surprise. Backlog and bookings were strong, but the transcript does not indicate a guidance increase or a clearly higher near-term outlook.
Key takeaways
- First-quarter revenue reached a record $480 million, with Autonomous Systems contributing $346 million, or 72%, and Space, Cyber and Directed Energy contributing $134.5 million, or 28%.
- Funded backlog increased to a record $1.5 billion, up 37% year over year and 25% from the prior quarter; bookings totaled $683 million.
- Adjusted EBITDA was nearly $46 million for the quarter.
- Management reaffirmed fiscal 2027 revenue guidance of $2.125 billion–$2.225 billion and adjusted EBITDA guidance of $305 million–$325 million, with no upward revision despite the contract wins and backlog growth.
- Key awards included a $117 million P550 Long-Range Reconnaissance contract, a $30 million German Puma procurement, and $51 million for Switchblade 600 under a U.S. Army lethal unmanned systems IDIQ.
Q4 2026
Jul 1, 2026
AeroVironment’s shares surged nearly 20% following quarterly and full-year results that demonstrated stronger-than-expected revenue growth, expanded backlog, and higher adjusted EBITDA, driven by robust demand across multiple product lines and key contract awards.
Key takeaways
- Fourth quarter revenue reached $642 million, marking a company record and reflecting 30% organic growth for both the quarter and full fiscal year.
- Adjusted EBITDA came in at $140 million, or 22% of revenue, showcasing profitability leverage with higher sales volume.
- Full year revenue was nearly $2 billion with bookings hitting $2.7 billion, while full year adjusted EBITDA of $286 million exceeded the upper end of recent guidance.
- Several new product launches and strategic acquisitions, including Blue Halo, nearly doubled company size and broadened capabilities in counter-UAS, space, and cyber technologies.
- Fiscal year 2027 guidance projects revenue between $2.13 billion and $2.23 billion and adjusted EBITDA between $305 million and $325 million, driven by expected contract wins and increased manufacturing capacity across drone platforms.