Aerovironment Inc

Latest Results (17.05.2026):

Aerovironment Inc — third quarter of fiscal 2026: The company reported third-quarter fiscal 2026 revenue of $408.0 million and a GAAP net loss of $156.6 million (diluted EPS –$3.15), largely driven by a $151.3 million goodwill impairment and revenue timing/adjustments in its Space business. On an adjusted (non‑GAAP) basis, Aerovironment posted Q3 adjusted EBITDA of $44.5 million and adjusted diluted EPS of $0.64. Bookings and backlog remain strong.

Revenue

Q3 revenue totaled $408.0M (product sales $277.8M; contract services $130.2M). Gross margin was $98.8M, about 24.2% of revenue.

Profitability (GAAP)

GAAP loss from operations was $(179.0)M in Q3; a $151.3M goodwill impairment was recorded. Other items: interest income (net) ~$3.7M, other expense ~$0.4M, tax benefit ~$19.5M, resulting in net loss $156.6M (diluted EPS $(3.15)).

Non‑GAAP results

Adjusted EBITDA (non‑GAAP) for Q3 was $44.5M. The company reconciles non‑GAAP measures by excluding items such as goodwill impairment, acquisition-related expenses, amortization of acquired intangibles, stock‑based compensation and other specified items. Adjusted diluted EPS for the quarter was $0.64.

Backlog and bookings

Aerovironment reported record funded backlog of $1.1B and bookings of $2.1B with a book‑to‑bill ratio of 1.6 for the first nine months of fiscal 2026, indicating continued demand for its solutions.

Segments

By segment in Q3: AxS revenue $278.7M with segment adjusted EBITDA $46.2M; SCDE revenue $129.3M with segment adjusted EBITDA $(1.7)M.

Balance sheet & liquidity

At quarter end the company held $289.9M cash and cash equivalents and $297.3M short‑term investments. Total assets were $5.45B and total stockholders’ equity $4.27B. Long‑term debt was $727.9M, reflecting recent financing activity tied to acquisitions and capital raises.

Cash flow & acquisitions

Nine‑month cash flows show operating cash used $(173.9)M and investing cash used $(1,224.9)M (including $844.6M of cash paid for business acquisitions, plus investments). Financing provided $1,647.2M (equity and convertible debt proceeds among items).

Outlook

The company provided FY2026 guidance including forecast GAAP loss per diluted share of $(4.44) to $(4.10), and forecast non‑GAAP adjusted EPS of $2.75 to $3.10. Adjusted EBITDA guidance for fiscal 2026 is $265M–$285M. Management noted the guidance is subject to usual risks and uncertainties (timing of government spending, integration of acquisitions, etc.).