AeroVironment increased aggregate revolving commitments by $100 million, from $350 million to $450 million, while the facility continues to mature on October 4, 2029. The amendment added letter of credit flexibility and retained the $150 million sublimit.
AVAV · AeroVironment Inc
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At its September 24, 2026 annual meeting, AeroVironment stockholders elected five directors to one-year terms, ratified Deloitte & Touche LLP as independent auditors, and approved an advisory vote on named executive officer compensation.
Metrics snapshot
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Quarterly results
* Q4 derived as the full year minus Q1 to Q3.
AI Brief
Q1 FY27 earnings call · Sep 9, 2026TL;DR. AeroVironment reported record Q1 FY27 revenue of $480.5 million and record funded backlog of $1.5 billion (up 37% YoY), supported by major franchise program wins including a nearly $465 million U.S. Army E-HEL directed energy contract, a $500 million Titan IDIQ, and a $117 million P550 LRR award. The company reaffirmed its FY27 revenue guidance of $2.125-$2.225 billion and adjusted EBITDA guidance of $305-$325 million.
- + Record first-quarter revenue of $480 million and record funded backlog of $1.5 billion, up 37% year-over-year
- + Adjusted EBITDA of $53.4 million and adjusted EPS of $0.59 (up 84% YoY) met or exceeded key targets
- + Landmark directed energy win: nearly $465 million U.S. Army E-HEL LOCUST contract, the first-ever directed energy production contract in U.S. military history
- + FY27 guidance reaffirmed with ~86% revenue visibility to midpoint and total funded/unfunded backlog of approximately $2.8 billion
- + Manufacturing capacity expansion with $100 million Southern California investment, plus new facilities in Salt Lake City, Albuquerque, and Huntsville to scale production
- − Space, Cyber and Directed Energy segment revenue declined 21% YoY due to SCAR contract termination and discontinued programs
- − Adjusted service gross margin fell to 8% from 13% in prior year quarter on Cyber & Mission Solutions volume impact
- − Free cash flow was negative $36 million in the quarter with full-year FY27 free cash flow expected to remain negative due to elevated CapEx
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
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Guidance & track record
Still-open targets the latest release did not restate under the same label.
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
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Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| SCDE Segment adjusted EBITDA non-GAAP | -$8.9M | Three Months Ended August 1, 2026 filing | — |
| Book-to-bill ratio | 1.4 | first quarter of fiscal 2027 | — |
| Bookings | 0.7B | Q1 FY2027 | — |
| EBITDA (Non-GAAP) non-GAAP | $46.4M | 1st Quarter FY2027 | +84.9% |
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GAAP → non-GAAP reconciliationGAAP Net loss -$5.1M
-$4.1M Interest (income) expense, net
-$0.4M Benefit from income taxes
+$12.6M Depreciation
+$43.4M Amortization
= EBITDA (non-GAAP) $46.4M
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| Funded backlog | 1.5B | As of August 1, 2026 | — |
| Non-GAAP adjusted EBITDA non-GAAP | $53.4M | first quarter of fiscal 2027 | -5.7% |
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GAAP → non-GAAP reconciliationGAAP Net loss -$5.1M
-$4.1M Interest expense (income), net
-$0.4M Tax benefit
+$12.6M Depreciation
+$43.4M Amortization
+$1.9M Cloud amortization
+$4.9M Stock-based compensation
+$2.1M Acquisition-related expenses
-$1.9M Equity method and equity security investment activity
= Adj. EBITDA (Non-GAAP) $53.4M
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| Non-GAAP earnings per diluted share non-GAAP | $0.59 | first quarter of fiscal 2027 | — |
| Segment adjusted EBITDA non-GAAP | 53.39M | Three Months Ended August 1, 2026 | — |
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| Total Q1 FY27 Unfunded Backlog as of 8/01/2026 | $1.37B | Q1 FY27 | — |
| Total Roll Forward Q4 FY26 Unfunded Backlog as of 4/30/2026 | $1.46B | Q4 FY26 | — |
| Unfunded Backlog | 1.4B | Q1 FY2027 | — |
| AxS Segment adjusted EBITDA non-GAAP | $288.65M | Year Ended April 30, 2026 filing | — |
| Capital expenditures | $86.22M | Year Ended April 30, 2026 filing | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Aerospace & Defense — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
AVAV
this stock
AeroVironment Inc
|
$5.97B | -51.4% | +18.4% | — | 10.1% |
|
SPCX
Space Exploration Technologies Corp
|
$1.89T | — | — | — | 1.0% |
|
GE
General Electric Co
|
$342.88B | +7.7% | +18.5% | 38.3 | 1.2% |
|
RTX
RTX Corp
|
$267.97B | +8.3% | +17.1% | 32.2 | 1.0% |
|
EADSF
Airbus SE
|
$178.35B | -3.2% | — | — | 0.1% |
Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every section- Filed
- Nov 4, 2026
- This year
- 26
AeroVironment increased aggregate revolving commitments by $100 million, from $350 million to $450 million, while the facility continues to mature on October 4, 2029. The amendment added letter of credit flexibility and retained the $150 million sublimit.
ViewPerformance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| AVAV | +4.2% | -3.5% | -35.5% | -6.8% | -51.4% |
| SPY | +2.6% | -1.2% | +0.5% | -0.2% | +10.6% |
| vs SPY | +1.6% | -2.4% | -36.0% | -6.6% | -62.0% |
Capital returns
Dividends per share over the trailing 365 days by ex-date · buyback figures as last reported in SEC filings ("spent" derived as authorized − remaining; when several programs run concurrently, authorized is their combined total per the newest filing) · components shown separately — trailing-year buyback spend isn't tracked, so no combined shareholder yield is derived.