AeroVironment (AVAV) Delivers Record Q4 Revenue with Strong Backlog Growth
Key Takeaways
- AeroVironment reported record fourth-quarter revenue of $641.6 million, up 133% year-over-year.
- Full-year fiscal 2026 revenue reached $1.98 billion, reflecting 141% growth driven by acquisitions and demand.
- Non-GAAP earnings per diluted share came in at $1.84, exceeding analyst expectations of approximately $1.48 to $1.53.
- Funded backlog stood at $1.2 billion as of April 30, 2026, up significantly from the prior year.
- The company provided fiscal 2027 revenue guidance of $2.125 billion to $2.225 billion.
- GAAP net income for the quarter was $63.2 million, or $1.25 per diluted share.
Why These Results Matter
AeroVironment’s fiscal fourth quarter, ending April 30, 2026, closed a transformative year marked by major acquisitions and surging defense demand. The results highlight the company’s expanded capabilities in autonomous systems, counter-unmanned aerial systems (UAS), and related technologies. Strong backlog growth and revenue momentum position AeroVironment to benefit from increased global defense spending, making this report a key indicator of its ability to scale operations and integrate recent purchases like BlueHalo. From what I see, this kind of execution in a high-growth environment is worth monitoring closely.
Breaking Down the Numbers
Revenue for the fourth quarter totaled $641.6 million, a 133% increase from $275.1 million in the year-ago period, with product sales contributing significantly alongside services. Acquisitions accounted for a substantial portion of the growth. Full-year revenue reached $1,976.8 million. Gross margin rose to $202.6 million but declined as a percentage of revenue to 32% due to higher service mix and acquisition-related costs. Non-GAAP adjusted EBITDA reached $140.1 million, while non-GAAP earnings per diluted share of $1.84 beat consensus estimates. GAAP net income was $63.2 million ($1.25 per diluted share). Funded backlog grew to $1.2 billion. I also checked this using Tickeron’s AI Screener to see how the stock compares to others in the industry.
How the Market Reacted
Following the June 29, 2026, release, investor focus centered on the substantial revenue beat and backlog expansion, which signaled robust demand and successful acquisition integration. The non-GAAP earnings outperformance relative to estimates likely supported positive sentiment, though acquisition-related amortization weighed on GAAP figures. Broader defense sector trends and guidance for fiscal 2027 provided additional context for interpreting the results. One thing that stands out is how the backlog figure underscores the company’s visibility into future revenue.
Looking Ahead
AeroVironment issued fiscal 2027 guidance calling for revenue between $2.125 billion and $2.225 billion, with non-GAAP adjusted EBITDA expected in the $305 million to $325 million range. Investors should watch progress on integrating recent acquisitions, supply chain execution, and the conversion of backlog into revenue.
Additional catalysts include potential updates on government contract wins, demand trends in lethal and non-lethal drone systems, and performance in the Space, Cyber and Directed Energy segment. Margin trends will remain important given the shift toward service revenue and ongoing amortization expenses from acquisitions.
Broader industry dynamics, such as defense budget allocations and geopolitical developments affecting unmanned systems demand, will also influence results. Monitoring quarterly bookings and book-to-bill ratios can provide insight into sustained growth momentum. I’m watching this closely as the company moves into the new fiscal year.
Using AI Tools to Refine Analysis
When reviewing earnings like these, I often turn to Tickeron’s AI Screener to quickly filter for similar companies based on technical patterns, fundamentals, and industry trends. It helps surface comparable names and spot potential ideas without spending hours on manual research. The tool allows customization across market cap, volatility, performance metrics, and AI-driven signals, making it a practical part of staying on top of sectors like defense technology.
Disclaimer
The information on this webpage is provided for general informational and educational purposes only and is not intended as investment advice, a recommendation to purchase or sell any security, or an offer or solicitation related to investments. It does not consider your personal financial situation, goals, or risk profile, and all investing carries inherent risks, including the possibility of losing your entire investment. For more details, please review our full disclaimer.
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Financial writer and active order flow futures trader with a focus on fundamental analysis, macroeconomic factors, and equity research. I make in-depth blogs on stocks and ETFs, bridging the gap between raw market data and real-world trading decisions.
AVAV's Stochastic Oscillator remains in oversold zone for 2 days
Be on the lookout for a price bounce soon.
Technical Analysis (Indicators)
Bullish Trend Analysis
The 10-day moving average for AVAV crossed bullishly above the 50-day moving average on August 11, 2026. This indicates that the trend has shifted higher and could be considered a buy signal. In of 16 past instances when the 10-day crossed above the 50-day, the stock continued to move higher over the following month. The odds of a continued upward trend are .
Following a 3-day Advance, the price is estimated to grow further. Considering data from situations where AVAV advanced for three days, in of 294 cases, the price rose further within the following month. The odds of a continued upward trend are .
The Aroon Indicator entered an Uptrend today. In of 225 cases where AVAV Aroon's Indicator entered an Uptrend, the price rose further within the following month. The odds of a continued Uptrend are .
Bearish Trend Analysis
The 10-day RSI Indicator for AVAV moved out of overbought territory on August 13, 2026. This could be a bearish sign for the stock. Traders may want to consider selling the stock or buying put options. Tickeron's A.I.dvisor looked at 36 similar instances where the indicator moved out of overbought territory. In of the 36 cases, the stock moved lower in the following days. This puts the odds of a move lower at .
The Momentum Indicator moved below the 0 level on August 20, 2026. You may want to consider selling the stock, shorting the stock, or exploring put options on AVAV as a result. In of 86 cases where the Momentum Indicator fell below 0, the stock fell further within the subsequent month. The odds of a continued downward trend are .
The Moving Average Convergence Divergence Histogram (MACD) for AVAV turned negative on August 20, 2026. This could be a sign that the stock is set to turn lower in the coming weeks. Traders may want to sell the stock or buy put options. Tickeron's A.I.dvisor looked at 50 similar instances when the indicator turned negative. In of the 50 cases the stock turned lower in the days that followed. This puts the odds of success at .
AVAV moved below its 50-day moving average on August 20, 2026 date and that indicates a change from an upward trend to a downward trend.
Following a 3-day decline, the stock is projected to fall further. Considering past instances where AVAV declined for three days, the price rose further in of 62 cases within the following month. The odds of a continued downward trend are .
AVAV broke above its upper Bollinger Band on August 07, 2026. This could be a sign that the stock is set to drop as the stock moves back below the upper band and toward the middle band. You may want to consider selling the stock or exploring put options.
Fundamental Analysis (Ratings)
The Tickeron PE Growth Rating for this company is (best 1 - 100 worst), pointing to outstanding earnings growth. The PE Growth rating is based on a comparative analysis of stock PE ratio increase over the last 12 months compared against S&P 500 index constituents.
The Tickeron Seasonality Score of (best 1 - 100 worst) indicates that the company is fair valued in the industry. The Tickeron Seasonality score describes the variance of predictable price changes around the same period every calendar year. These changes can be tied to a specific month, quarter, holiday or vacation period, as well as a meteorological or growing season.
The Tickeron Price Growth Rating for this company is (best 1 - 100 worst), indicating fairly steady price growth. AVAV’s price grows at a lower rate over the last 12 months as compared to S&P 500 index constituents.
The Tickeron Valuation Rating of (best 1 - 100 worst) indicates that the company is slightly overvalued in the industry. This rating compares market capitalization estimated by our proprietary formula with the current market capitalization. This rating is based on the following metrics, as compared to industry averages: P/B Ratio (1.850) is normal, around the industry mean (7.037). P/E Ratio (149.026) is within average values for comparable stocks, (60.208). Projected Growth (PEG Ratio) (0.000) is also within normal values, averaging (8.077). Dividend Yield (0.000) settles around the average of (0.017) among similar stocks. P/S Ratio (3.978) is also within normal values, averaging (20.174).
The Tickeron Profit vs. Risk Rating rating for this company is (best 1 - 100 worst), indicating that the returns do not compensate for the risks. AVAV’s unstable profits reported over time resulted in significant Drawdowns within these last five years. A stable profit reduces stock drawdown and volatility. The average Profit vs. Risk Rating rating for the industry is 74, placing this stock worse than average.
The Tickeron SMR rating for this company is (best 1 - 100 worst), indicating weak sales and an unprofitable business model. SMR (Sales, Margin, Return on Equity) rating is based on comparative analysis of weighted Sales, Income Margin and Return on Equity values compared against S&P 500 index constituents. The weighted SMR value is a proprietary formula developed by Tickeron and represents an overall profitability measure for a stock.
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a developer of unmanned aircraft and charging systems
Industry AerospaceDefense
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