StockDriftsAeroVironment Inc · AVAV · 8-K · Filed
Reports Q1 FY27 Revenue up 6% to $480.5M, EPS $(0.10)
Source: SEC EDGAR, accession 0001104659-26-106304 · Items 2.02, 7.01, 9.01
What did AeroVironment Inc announce?
AeroVironment reported record Q1 FY27 revenue of $480.5 million, a 6% year-over-year increase, and diluted EPS of $(0.10).
AeroVironment Inc. announced its financial results for the first quarter of fiscal year 2027, ending August 1, 2026. The company reported record first-quarter revenue of $480.5 million, marking a 6% increase compared to $454.7 million in the first quarter of fiscal 2026. This growth was primarily driven by higher product sales, which increased by $15.5 million, and a $10.3 million rise in service revenue.
The Autonomous Systems (AxS) segment contributed $346.0 million to revenue, while the Space, Cyber and Directed Energy (SCDE) segment recorded $134.5 million. Gross margin for the quarter improved to $124.6 million, up 31% from $95.1 million in the prior-year period. As a percentage of revenue, gross margin rose to 26% from 21%, benefiting from a decrease in intangible amortization and other non-cash purchase accounting expenses, which were $18.5 million this quarter compared to $37.4 million in the first quarter of fiscal 2026.
The company reported a net loss of $(5.1) million, or $(0.10) per diluted share, for the quarter, an improvement from the net loss of $(67.4) million, or $(1.44) per diluted share, in the prior year. This quarter's net loss was impacted by $43.4 million, or $0.69 per diluted share, in intangible amortization and other non-cash purchase accounting expenses, down from $79.7 million, or $1.34 per diluted share, in the first quarter of fiscal 2026.
AeroVironment reiterated its full-year fiscal 2027 guidance, projecting revenue between $2.125 billion and $2.225 billion. The company also expects net income to range from $10 million to $27 million, with diluted earnings per share between $0.21 and $0.53. Non-GAAP adjusted EBITDA is anticipated to be between $305 million and $325 million, and non-GAAP earnings per diluted share are expected to be between $3.02 and $3.34.
Key details
- Record funded backlog reached $1.5 billion, up 37% year-over-year.
- Gross margin improved to 26% from 21% in the prior year period.
- Non-GAAP adjusted EBITDA for Q1 FY27 was $53.4 million.
- Company reaffirms FY27 revenue guidance of $2.125 billion to $2.225 billion.
Reported results
| Measure | Reported |
|---|---|
| Period | Q1 FY2027 |
| Revenue | $480.5M |
| Revenue, year ago | $454.7M |
| Revenue growth, YoY | +5.7% |
| Gross margin | 26.0% |
| Diluted EPS | $-0.10 |
| Reporting currency | USD |
Figures as reported by AeroVironment Inc in this filing, in USD. Year-over-year growth is calculated from the two revenue lines above.
Guidance
For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.
Why it matters
This 8-K reports a results announcement at AeroVironment Inc. The likely share-price reaction reads as neutral.