8-K
AeroVironment Inc (AVAV)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) ofthe Securities Exchange Act of 1934
Date of Report (Date of earliest event reported): June 3, 2025
AEROVIRONMENT,
INC.
(Exact name of registrant as specified in its charter)
| Delaware | 001-33261 | 95-2705790 |
|---|---|---|
| (State<br> or other jurisdiction of | (Commission<br> File Number) | (I.R.S.<br> Employer Identification No.) |
| incorporation<br> or organization) | ||
| 241 18th Street South**, Suite 650** | ||
| --- | --- | |
| Arlington**, Virginia** | 22202 | |
| (Address<br> of Principal Executive Offices) | (Zip<br> Code) |
Registrant’s telephone number, including area code:
(805
) 520-8350
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
| Title of each class | Trading<br> Symbol(s) | Name<br> of each exchange on which registered |
|---|---|---|
| Common<br> Stock, $0.0001 par value | AVAV | The<br> NASDAQ Stock Market LLC |
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ¨
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ¨
Item 7.01. Regulation FD Disclosure
The management of AeroVironment, Inc. (“AV”) will present an overview of AV’s business on June 3, 2025 at the William Blair Annual Growth Stock Conference in Chicago. A copy of the presentation to be made by AV at the conference is attached as Exhibit 99.1 to this Current Report.
In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1, shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth in such a filing.
Safe Harbor Statement
Certain statements in this Current Report on Form 8-K (including the presentation materials attached as Exhibit 99.1 hereto) may constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, forward-looking statements can be identified by words such as “anticipate,” “approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,” “strategy,” “will,” “intend,” “may” and other similar expressions or the negative of such words or expressions. Statements concerning AV’s expected future financial position, results of operations, revenues, business strategy, production capacity, competitive positions, growth opportunities, employment opportunities and mobility, plans and objectives of management, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting management’s best judgment based upon currently available information. Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from expectations as a result of a variety of factors, including, without limitation, those discussed below. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which AV is unable to predict or control, that may cause actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements.
These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated in these statements as a result of a number of factors, including, but not limited to: the risk that AV’s acquisition of BlueHalo will not provide the expected benefits, or that we will not be able to achieve the cost or revenue synergies anticipated; unexpected costs, liabilities, charges or expenses resulting from the acquisition; the risk that the integration of AV and BlueHalo will be more difficult, time-consuming or expensive than anticipated; the risk of customer loss or other business disruption; the loss of key employees; the fact that unforeseen liabilities of AV or BlueHalo may exist; the risk of doing business internationally; AV’s capital structure following the acquisition of BlueHalo; the challenging macroeconomic environment, including disruptions in the defense industry; risks that AV may not be able to manage strains associated with its growth; dependence on key personnel; stock price volatility; the effect of legislative initiatives or proposals, statutory changes, governmental or other applicable regulations and/or changes in industry requirements; failure of the markets in which we operate to grow; AV’s failure to remain a market innovator, to create new market opportunities or to expand into new markets; AV’s reliance on sales to the U.S. government and the availability of U.S. government funding for defense procurement and R&D programs; AV’s ability to win U.S. and international government R&D and procurement programs; AV’s ability to execute contracts for anticipated sales, perform under such contracts and other existing contracts and obtain new contracts; any actual or threatened disruptions to our relationships with our suppliers and customers; unexpected changes in significant operating expenses, including components and raw materials; AV’s ability to protect its intellectual property and litigation risks; AV’s ability to increase production capacity to support anticipated growth; AV’s ability to comply with the covenants in our loan documents; and other risks and uncertainties identified in the “Risk Factors,” “Management’s Discussion and Analysis of Financial Condition and Results of Operations” and “Business” sections of AV’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, and other risks as identified from time to time in its Securities and Exchange Commission (“SEC”) reports.
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Other unknown or unpredictable factors also could have a material adverse effect on AV’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, AV undertakes (and AV expressly disclaims) any obligation and does not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise.
Item 9.01. Financial Statements and Exhibits
(d) Exhibits.
| Exhibit | |
|---|---|
| Number | Description |
| 99.1 | Presentation materials dated June 3, 2025. |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document) |
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SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| AEROVIRONMENT, INC. | ||
|---|---|---|
| Date: June 3, 2025 | By: | /s/ Melissa Brown |
| Melissa Brown | ||
| Executive Vice President, Chief Legal & Compliance Officer and Corporate Secretary |
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Exhibit 99.1
| Slide<br>1 © 2025 AeroVironment, Inc.<br>DEFINING<br> THE NEXT ERA<br>OF DEFENSE<br>TECHNOLOGY<br>William Blair Growth Stock Conference<br>NASDAQ: AVAV<br>June 3, 2025 |
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| Slide 2 © 2025 AeroVironment, Inc.<br>Safe Harbor Statement<br>This presentation contains statements regarding AeroVironment, Inc. (“AV”), including its wholly owned subsidiary BlueHalo, that are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,<br>as amended (the “Securities Act”), and Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”). In some cases, forward-looking statements can be identified by words such as “anticipate,”<br>“approximate,” “believe,” “plan,” “estimate,” “expect,” “project,” “could,” “should,” “strategy,” “will,” “intend,” “may” and other similar expressions or the negative of such words or expressions. Statements in this presentation<br>concerning AV’s expected future financial position, results of operations, revenues, business strategy, production capacity, competitive positions, growth opportunities, employment opportunities and mobility, plans and<br>objectives of management, together with other statements that are not historical facts, are forward-looking statements that are estimates reflecting management’s best judgment based upon currently available information.<br>Such forward-looking statements are inherently uncertain, and stockholders and other potential investors must recognize that actual results may differ materially from expectations as a result of a variety of factors, including,<br>without limitation, those discussed below. Such forward-looking statements are based upon management’s current expectations and include known and unknown risks, uncertainties and other factors, many of which AV is<br>unable to predict or control, that may cause actual results, performance or plans to differ materially from any future results, performance or plans expressed or implied by such forward-looking statements.<br>These statements involve risks and uncertainties that could cause actual results to differ materially from those anticipated in these statements as a result of a number of factors, including, but not limited to: the risk that AV’s<br>acquisition of BlueHalo will not provide the expected benefits, or that we will not be able to achieve the cost or revenue synergies anticipated; unexpected costs, liabilities, charges or expenses resulting from the acquisition; the<br>risk that the integration of AeroVironment and BlueHalo will be more difficult, time-consuming or expensive than anticipated; the risk of customer loss or other business disruption; the loss of key employees; the fact that<br>unforeseen liabilities of AeroVironment or BlueHalo may exist; the risk of doing business internationally; AV’s capital structure following the acquisition of BlueHalo; the challenging macroeconomic environment, including<br>disruptions in the defense industry; risks that AV may not be able to manage strains associated with its growth; dependence on key personnel; stock price volatility; the effect of legislative initiatives or proposals, statutory<br>changes, governmental or other applicable regulations and/or changes in industry requirements; failure of the markets in which we operate to grow; AV’s failure to remain a market innovator, to create new market opportunities<br>or to expand into new markets; AV’s reliance on sales to the U.S. government and the availability of U.S. government funding for defense procurement and R&D programs; AV’s ability to win U.S. and international government<br>R&D and procurement programs; AV’s ability to execute contracts for anticipated sales, perform under such contracts and other existing contracts and obtain new contracts; any actual or threatened disruptions to our<br>relationships with our suppliers and customers; unexpected changes in significant operating expenses, including components and raw materials; AV’s ability to protect its intellectual property and litigation risks; AV’s ability to<br>increase production capacity to support anticipated growth; AV’s ability to comply with the covenants in our loan documents; and other risks and uncertainties identified in the “Risk Factors,” “Management’s Discussion and<br>Analysis of Financial Condition and Results of Operations” and “Business” sections of AV’s most recent Annual Report on Form 10-K and its subsequent Quarterly Reports on Form 10-Q, and other risks as identified from time<br>to time in its Securities and Exchange Commission (“SEC”) reports.<br>Other unknown or unpredictable factors also could have a material adverse effect on AV’s business, financial condition, results of operations and prospects. Accordingly, readers should not place undue reliance on these<br>forward-looking statements. These forward-looking statements are inherently subject to uncertainties, risks and changes in circumstances that are difficult to predict. Except as required by applicable law or regulation, AV<br>undertakes (and AV expressly disclaims) any obligation and does not intend to publicly update or review any of these forward-looking statements, whether as a result of new information, future events or otherwise. |
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| Slide 3 © 2025 AV, Inc. – Proprietary Information<br>Slide 3 © 2025 AeroVironment, Inc.<br>AeroVironment – a Defense Technology Leader<br>✓ Trusted supplier delivering advanced tech solutions to<br>the U.S. DoD and their allies for 30+ years<br>✓ Best-positioned to address emerging global priorities in<br>unmanned systems, one way attack, C-UAS, directed<br>energy and space<br>✓ Consistent double-digit profitable revenue growth<br>✓ Closed acquisition of BlueHalo on May 1, 2025 fortifying<br>leadership position in defense tech sector<br>AeroVironment Snapshot Premier Portfolio of Solutions<br>Precision<br>Strike<br>Group 1-3<br>UAS<br>C-UAS<br>& EW<br>Ground &<br>Maritime<br>Robotic<br>Solutions<br>MacCready<br>Works<br>Space<br>Technologies<br>Directed<br>Energy<br>Solutions<br>Cyber<br>Advanced<br>Solutions<br>Autonomous<br>Systems<br>Space, Cyber &<br>Directed Energy<br>100+<br>Countries sold to<br>~$2B<br>Pro Forma Adjusted Revenue1<br>$8B<br>Market Cap2<br>42,000+<br>AV platforms fielded and performing<br>in most demanding environments<br>1 Based upon pro-forma financials for the combined BlueHalo and AV in FY26 in accordance with the 424B3 filed February 12, 2025<br>2 Market Cap as of market close on 5/31/2025 |
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| Slide 4 © 2025 AV, Inc. – Proprietary Information<br>Slide 4 © 2025 AeroVironment, Inc.<br>Acquisition of BlueHalo closed on May 1, 2025<br>Portfolio of mission critical<br>capabilities<br>Diversified Defense Tech<br>solution provider<br>Expected to be accretive to<br>Revenue, Adj. EBITDA and<br>non-GAAP EPS in first full<br>year post-close<br>Creates leading Defense<br>Technology prime<br>Widened aperture for strategic<br>acquisitions<br>Transaction Benefits |
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| Slide 5 © 2025 AeroVironment, Inc.<br>Summary Investment Highlights<br>1<br>2<br>3<br>4<br>5<br>6<br>7<br>Nearly $3B invested over a decade in unmanned systems, one way attack, C-UAS, directed energy and space<br>Diversified portfolio of solutions has no single area contributing >30% revenue<br>“Big Bet” opportunities and newly launched products provide significant growth upside<br>Proven ability to scale production to meet rising demand<br>Trusted global provider with decades of experience producing battlefield-ready products<br>Multi-generational suite of products best-positioned to address the U.S. DoD’s highest priorities<br>Diversified product portfolio with leading edge solutions aligned with highest U.S. DoD priorities |
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| Slide 6 © 2025 AeroVironment, Inc. Source: Renaissance Strategic Advisors.<br>Innovating<br>and Incubating<br>New Markets<br>OWA<br>Precision Strike &<br>One-Way Attack<br>Rapidly Growing<br>UAS<br>GROUPS 1, 2, and 3<br>Cyber<br>CYBER<br>MW/ ADV<br>MACCREADY WORKS<br>ADVANCED SOLUTIONS<br>$4B+<br>$5B+<br>Rapidly Growing<br>$6B+<br>ST<br>SPACE<br>TECHNOLOGIES<br>$15B+<br>Rapidly Growing<br>$23B+<br>Defensive<br>CUAS & Electronic Warfare<br>Growing<br>Growing<br>$50B+<br>Total Addressable Market<br>AV’s Addressable Opportunity Now Exceeds $50B<br>U.S. DoD push for $150B additional spend / U.S. Army’s Transformation Initiative /<br>Expedited timeline for Golden Dome |
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| Slide 7 © 2025 AeroVironment, Inc.<br>AV’s Solutions Address U.S. DoD Priorities<br>Precision Fires & Loitering Munitions<br>Red Dragon, Switchblade<br>Enables long-range, precision strike capabilities against high-value targets with expendable and agile systems<br>Autonomous UAS (Groups 1–3)<br>P550, Puma, Jump-20<br>Provides low-cost, portable unmanned aerial systems for real-time ISR, targeting, and situational awareness<br>Cybersecurity<br>Scraawl, Lokiset, Monocle<br>Safeguards critical Mission networks and operations from cyber threats<br>Advanced Munitions<br>Red Dragon, Switchblade<br>Supports rapid, accurate, and scalable lethality with next-generation guided weapons<br>Space Technologies<br>BADGER, WASP, PANTHER, Space-Qualified Payloads, Laser Communications<br>Enhances warfighter connectivity and threat awareness through space-based systems<br>Designed and developed with the customer’s goals in mind<br>C-UAS<br>Titan, TItanSV, LOCUST, Freedom Eagle-1<br>Counters hostile drones through kinetic and non-kinetic detection and defeat systems<br>Congress Unveils $150B in New Defense<br>Spending for 2025 |
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| Slide 8 © 2025 AeroVironment, Inc.<br>Ground and Maritime<br>Robotic Solutions<br>(Telemax EVO, Defender)<br>Advanced<br>Solutions<br>(Wildcat)<br>C-UAS & EW<br>(Titan, TitanSV, LOCUST)<br>UAS Group<br>1,2,3<br>(P550, Puma,<br>Jump-20)<br>Precision<br>Strike<br>(Switchblade, Red Dragon)<br>Space Technology<br>(BADGER, WASP, PANTHER)<br>Cyber<br>(Scraawl, Lokiset,<br>Monocle)<br>Ground and<br>Maritime Robotic<br>Solutions<br>(Telemax EVO)<br>Advanced<br>Solutions<br>(Wildcat)<br>UAS Group 1,2,3<br>(P550, Puma, Jump-20)<br>Precision<br>Strike<br>(Switchblade, Red Dragon)<br>(1) Based upon pro-forma financials for the combined BlueHalo and AV in FY26 in accordance with the 424B3 filed February 12, 2025<br>No mission area is expected to contribute more than 30% of FY26 pro-forma revenue (1)<br>Prior BlueHalo<br>Acquisition<br>Post BlueHalo<br>Acquisition<br>BlueHalo Acquisition Expands Footprint and Diversifies Portfolio |
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| Slide 9 © 2025 AeroVironment, Inc.<br>Innovation Engine<br>Breakthrough Technologies<br>Platform<br>Standardization<br>Transition to<br>Programs of Record<br>Proven Track Record of Innovation Innovation Powers Platform Differentiation<br>Nearly $3B invested in hardware and software over the past decade across<br>multiple product generations<br>Decades of breakthrough innovation across unmanned systems, C-UAS,<br>electronic warfare, cyber, and space domains<br>Fielded systems evolved through multi-generational product cycles with<br>more than 40,000 units delivered – continually refined through operational<br>feedback<br>Our integrated software and hardware architectures<br>are born from internal innovation<br>Open Architectures<br>These scalable platforms accelerate mission<br>customization, interoperability, and readiness<br>Our innovation engine is the<br>strategic fuel that drives<br>future growth…<br>…Leading to long-term customer<br>alignment and sustained<br>competitive advantage |
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| Laser Communications<br>and Space Payloads<br>Orbital Warfare & Space<br>Effects<br>Space Domain<br>Awareness C4ISR and<br>Multi-Domain Operations<br>Laser Weapons, Precision<br>Pointing and Tracking<br>Space RF Systems for<br>Communications,<br>Telemetry, and Electronic<br>Warfare<br>Offensive & Defensive<br>Cyber Operations OSINT<br>C2 Tracking<br>and Sensing<br>Autonomous<br>Swarms<br>Perimeter/Base<br>Defense<br>Directed Energy<br>C-UAS<br>Digital Operations<br>NextGen<br>Interceptor<br>(Kinetic C-UAS)<br>RF C-UAS Electronic<br>Warfare<br>Hypersonic Telemetry<br>and Tracking<br>Next-Gen Aviation<br>Group 1-2 UAS<br>One-Way Attack<br>Undersea<br>Autonomy<br>Ground Robotics<br>Group 3 UAS<br>Slide 10 © 2025 AeroVironment, Inc.<br>Delivering Innovation Across All Defense Domains |
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| Slide 11 © 2025 AeroVironment, Inc.<br>Battlefield<br>Awareness<br>AV’s METIS<br>The Battlefield’s Cognitive Engine<br>AI/ML that processes onboard sensor data<br>to detect, classify and track threats<br>Vision<br>AV’s Spotr-Edge<br>Onboard Computer Vision for Autonomous Targeting<br>Real-time computer vision and situational awareness built to<br>function in GPS denied and comms-degraded conditions<br>Multi-Platform Control<br>AV’s Kinesis Tomahawk Controller<br>Unified Control of Autonomous Multi-Domain Assets<br>Common control unit enabling synchronized command of aerial, ground<br>and maritime platforms using AI for improved autonomy, aided target<br>recognition, and RF spectrum synthesis<br>Battlefield Operations<br>AV’s Vigilant Halo<br> Integrated Tactical C2 for Complex Operations<br>Fuses sensor feeds, telemetry, and environmental data into a secure,<br>mission-specific operating picture that enables theater-wide asset<br>coordination, whether fixed, mobile, or distributed<br>Platform Autonomy<br>AV’s Avacore<br>Behavior-Based Mission Execution<br>Avacore’s intuitive behavior-tree framework empowers AV<br>systems to conduct fully autonomous missions without comms<br>dependency—even in the most contested spaces<br>© 2025 AeroVironment, Inc.<br>AV’s Software Drives Mission Success Across All Domains |
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| Slide 12 © 2025 AeroVironment, Inc.<br>Leading Solutions in Both UAS and C-UAS Operations<br>Precision Strike Group 1, 2, 3 UAS C-UAS<br>Locust LWS<br>Directed Energy Solution<br>Freedom Eagle-1<br>Kinetic Intercept<br>Titan & TitanSV<br>RF Detect and Neutralize<br>SwitchBlade 600<br>Smart Munition System<br>SwitchBlade 300 Block 20<br>Tactical Munition System<br>P550<br>Battlefield Adaptable<br>Jump 20-X<br>Unmatched Flexibility and Precision<br>Puma 3 AE<br>All-Environment<br>Red Dragon<br>UAS Delivering Mission-Specific Capabilities |
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| Slide 13 © 2025 AeroVironment, Inc.<br>Expanding Across Emerging and Mission-Critical Domains<br>Space Technologies Ground and Maritime Robotics Emerging Technologies<br>Wildcat<br>Group 3 VTOL UAS Engineered for Extremes<br>AVACORE<br>Autonomy Software<br>Solar HAPS<br>High-Altitude Pseudo-Satellite<br>BADGER<br>Next-Generation Space Operations<br>Space Qualified Payloads<br>Full Suite Across GEO, MEO, and Cislunar Orbits<br>Laser Communications<br>Higher Speed and Security<br>Defender<br>Leading Small Form-Factor ROV<br>Telemax EVO<br>Rugged Design Supports Mission Flexibility<br>Ally<br>Designed for Speed, Efficiency and Reduced Size |
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| Slide 14 © 2025 AeroVironment, Inc.<br>Golden Dome One-Way Attack Counter-UAS Border Security<br>Remote sensing, tracking,<br>and classified space<br>capabilities<br>Robust MDA heritage,<br>insights, and customer<br>perspectives<br>Layered effector design<br>and production expertise<br>Industry leading<br>Switchblade product line<br>Computer vision and<br>sensing algorithms (e.g.,<br>AvaCore)<br>Cross-domain swarming<br>and C2 software suites<br>Full suite of C-UAS<br>products for rf<br>identification and defeat<br>Operationally fielded<br>directed energy C-UAS<br>solution<br>Kinetic kill capability for<br>NGCM<br>Over 2,000 systems<br>delivered<br>Mature range of homeland-safe EW and mobile ATC<br>solutions<br>AI-enabled intelligence<br>software products and<br>mission support<br>Extensive sales heritage<br>with relevant U.S. DoD / IC<br>/ DHS partners<br>Full suite of ISR-enabled<br>Group 1-3 UAS<br>Uniquely Positioned for Upcoming Opportunities<br>Space Technologies<br>275+ space systems flown<br>on-orbit<br>One of the only proven<br>GEO lasercomm payloads<br>Developing and delivering<br>the Nation's premier<br>satellite operations<br>capability via our<br>proprietary, first-of-its-kind<br>solution |
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| Slide 15 © 2025 AeroVironment, Inc.<br>Future Defense Solutions are More Cost Effective<br>UKRAINE has fired<br>$~36M<br>worth of<br>SWITCHBLADE 600<br>munitions<br>to destroy<br>>$2.5B<br>worth of enemy equipment<br>MINIMAL<br>COST<br>MAXIMUM<br>IMPACT<br>AV’s SWITCHBLADE 600<br>Provides a significant Cost Advantage<br>AV’s SWITCHBLADE Products<br>Provide Cost Effective Solutions |
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| Slide 16 © 2025 AeroVironment, Inc.<br>▷ Right-sized defense disruptor small enough to<br>stay agile and innovative, yet large enough to<br>support increased demand through government<br>contracting<br>▷ Superior leading-edge technology focused on<br>integrating AI and Autonomy that’s aligned to our<br>customer’s highest current and future priorities<br>▷ Proven track record delivering next generation<br>products to the U.S. Department of Defense and<br>our allies for more than 30 years<br>▷ Recent acquisition of BlueHalo cements our<br>leadership position in the Defense Tech sector<br>as the dominant provider of multi-generational<br>UAS, C-UAS and space products and solutions<br>▷ Demonstrated profitable double-digit revenue<br>growth sustained by market leading investments<br>in R&D offers upside opportunity as technology<br>transitions to programs of record<br>Aligned to Customer Priorities & Positioned for Growth |
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| The Future of Defense is Now |
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| Slide 18 © 2025 AeroVironment, Inc.<br>Autonomous Systems<br>Electronic Warfare<br>Maccready Works (Advanced Technologies)<br>SOLAR HAPS ARK ACE SPOTR-EDGE WILDCAT<br>Precision Strike And Defense Systems<br>SWITCHBLADE 600 SWITCHBLADE 300 RED DRAGON BLACKWING<br>MUAS (Group 3 UAS)<br>JUMP 20 JUMP 20-X T-20<br>Robotic Solutions (Telerob)<br>TELEMAX UGV TEODOR EVO<br>SUAS (Group 1/2 UAS)<br>TOMAHAWK<br>VAPOR 55 MX<br>RAVEN B P550<br>PUMA VTOL PUMA 3 AE PUMA LE<br>NextGen C-UAS Missle C2 Tracking + Sensing<br>FE-1<br>RF C-UAS<br>TITAN<br>Unmanned Maritime<br>DEFENDER<br>C-UAS Product |
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| Slide 19 © 2025 AeroVironment, Inc.<br>Space, Cyber & Directed Energy Products<br>C-UAS Product |
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