AeroVironment (AVAV) Earnings Date & Reports

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.

Earnings Context and Why It Matters

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.

Reported Results

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.

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Market Reaction and Investor Sentiment

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.

Forward Outlook and Key Factors to Monitor

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.

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