AVAV

EX-99.1

2 avav-20260629xex99d1.htm

EX-99.1

Exhibit 99.1

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AeroVironment Announces Fiscal 2026 Fourth Quarter and Fiscal Year Results

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ARLINGTON, VA, June 29, 2026 — AeroVironment, Inc. (NASDAQ: AVAV) (“AeroVironment” or the “Company”) reported today financial results for the fiscal fourth quarter and year ended April 30, 2026.

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Fourth Quarter Highlights:

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●Record fourth quarter revenue of $641.6 million and fiscal year revenue of $1,976.8 million, up 133% and 141% year-over-year, respectively

●Bookings of $2.7 billion and book-to-bill ratio of 1.4 for the fiscal year

●Funded backlog of $1.2 billion

“Fiscal 2026 marked a transformational year for AV, which included the completion of our largest acquisition, meaningful investments toward diversifying our portfolio in critical areas aligned to our customer’s highest priorities, and the strongest financial performance in our history,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “We are confident our proven ability to deliver at speed will continue to drive opportunities for AV across our global customer base.”

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“We remain focused on executing with excellence and strengthening our supply chain to accelerate the commercialization of our platforms. AV is well-positioned to capture the rising global demand across lethal and non-lethal drones, counter-UAS, space and advanced technologies and deliver long-term shareholder value.”

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FISCAL 2026 FOURTH QUARTER RESULTS

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Revenue for the fourth quarter of fiscal 2026 was $641.6 million and $2.0 billion for the fiscal year. Revenue for fourth quarter of fiscal 2026 increased 133% as compared to $275.1 million for the fourth quarter of fiscal 2025, due to higher product sales of $256.7 million and higher service revenue of $109.8 million. The combined acquisitions of BlueHalo on May 1, 2025 and Empirical Systems Aerospace, Inc. on March 16, 2026 contributed $282.3 million of revenue to the current quarter. From a segment standpoint, Autonomous Systems (“AxS”) recorded revenue of $492.4 million and Space, Cyber and Directed Energy (“SCDE”) recorded revenue of $149.2 million.

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Gross margin for the fourth quarter of fiscal 2026 was $202.6 million, an increase of 102% as compared to $100.3 million for the fourth quarter of fiscal 2025, reflecting higher product margin of $120.3 million offset by lower service margin of $(18.0) million. Fiscal 2026 fourth quarter gross margin was negatively impacted by $18.4 million of intangible amortization expense and other related non-cash purchase accounting expenses, as compared to $8.3 million in the fourth quarter of fiscal 2025. As a percentage of revenue, gross margin fell to 32% from 36%, primarily due to an increase in the proportion of service revenue resulting from the BlueHalo acquisition and the increased amortization and other non-cash purchase accounting expenses.

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Income from operations for the fourth quarter of fiscal 2026 was $56.9 million as compared to income from operations of $13.8 million for the fourth quarter of last fiscal year. The current quarter was negatively impacted by $51.4 million of intangible amortization and other related non-cash purchase accounting expenses as compared to $9.0 million in the fourth quarter of fiscal 2025. The increase year-over-year was primarily due to an increase in gross margin of $102.3 million and a decrease in goodwill impairment of $18.4 million related to the UGV goodwill impairment in the fourth quarter of last fiscal year. The increase was partially offset by an increase in selling, general and administrative expense of $71.0 million, which includes an increase of $33.0 million of intangible amortization expense and incremental headcount

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resulting from our acquisition of BlueHalo which closed on May 1, 2025, and an increase in research and development (“R&D”) expense of $6.6 million.

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Other income, net for the fourth quarter of fiscal 2026 was $7.5 million, as compared to other loss, net of $(0.7) million for the fourth quarter of fiscal 2025. The increase year-over-year was primarily due to the realized gains from the sale of equity securities and an increase in interest income due to a combination of higher cash and investment balances and lower interest bearing debt balances.

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Provision for income taxes for the fourth quarter of fiscal 2026 was $16.0 million, as compared to $0.2 million for the fourth quarter of last fiscal year. The increase year-over-year was primarily due to the increase in current quarter income before income taxes relative to the pretax loss for the first three quarters of fiscal year 2026.

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Net income for the fourth quarter of fiscal 2026 was $63.2 million, or $1.25 per diluted share, as compared to net income of $16.7 million, or $0.59 per diluted share, in the prior-year period, respectively. The current quarter was negatively impacted by $51.4 million, or $0.80 per diluted share, of intangible amortization and other r

AeroVironment Inc_March 10, 2026 AeroVironment Inc0001368622false00013686222026-03-102026-03-10

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): March 10, 2026

AEROVIRONMENT, INC.

(Exact name of registrant as specified in its charter)

Delaware

001-33261

95-2705790

(State or other jurisdiction of

(Commission File Number)

(I.R.S. Employer Identification No.)

incorporation or organization)

​

241 18th Street South, Suite 650

Arlington, Virginia

22202

(Address of Principal Executive Offices)

(Zip Code)

Registrant’s telephone number, including area code: (703) 418-2828 ​ Securities registered pursuant to Section 12(b) of the Act: ​

​

Title of each class ​ Trading Symbol(s) Name of each exchange on which registered

Common Stock, par value $0.0001 per share ​

AVAV

The NASDAQ Stock Market LLC

​ 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))

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 2.02.  Results of Operations and Financial Condition

On March 10, 2026, AeroVironment, Inc. (the “Company”) issued a press release announcing second quarter results for the period ended January 31, 2026, a copy of which is attached hereto as Exhibit 99.1. ​ Item 7.01. Regulation FD Disclosure ​ The information under Item 2.02 above is incorporated herein by reference. ​ Attached as Exhibit 99.2 hereto is a presentation containing additional information regarding the Company’s third quarter fiscal 2026 financial results for the period ended January 31, 2026. A copy of the presentation is also available on the investor relations section of the Company’s website at https://investor.avinc.com/events-and-presentations. The information contained on the Company’s website is not incorporated by reference into, and does not form a part of, this Current Report on Form 8-K.

The information in this Current Report on Form 8-K, including the exhibits, is furnished pursuant to Items 2.02 and 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing of AeroVironment, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing. ​ Item 8.01. Other Events ​ On March 10, 2026, during the course of negotiations between the Company and the U.S. Government regarding the Company’s Other Transaction Agreement (the “Agreement”) for the delivery of BADGER phased array antenna systems to support the Satellite Communication Augmentation Resource (“SCAR”) program, the U.S. Government informed the Company that it now intends to proceed with a termination for convenience of the Agreement, while providing the Company with the opportunity to compete for work under the SCAR program in the future. The Company intends to continue to invest in the BADGER product line by developing a commercial product to address the phased array antennae market. ​ In addition to historic information, this report, including the exhibits, contains forward-looking statements regarding events, performance and financial trends. Various factors could affect future events and results and could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Some of those factors are identified in the exhibits, and in our periodic reports filed with the Securities and Exchange Commission.

Item 9.01.  Financial Statements and Exhibits

(d)  Exhibits.

Exhibit

Number

Description

99.1

Press release issued by AeroVironment, Inc., dated March 10, 2026.

99.2 ​

Presentation regarding AeroVironment, Inc.

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0001368622

2025-12-09 2025-12-09

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K/A

(Amendment No. 1)

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): December 9, 2025

AEROVIRONMENT,

INC.

(Exact name of registrant as specified in its charter)

Delaware

001-33261

95-2705790

(State or other jurisdiction of

(Commission File Number)

(I.R.S.

Employer Identification No.)

incorporation or organization)

241 18th Street South, Suite 650

Arlington, Virginia

22202

(Address of Principal Executive Offices)

(Zip 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 Symbol(s) Name of each exchange on which registered

Common Stock, $0.0001 par value

AVAV

The 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. ¨

Explanatory Note

On December 9, 2025, AeroVironment, Inc. (the “Company”) furnished a Current Report on Form 8-K (the “Original Report”) to the Securities and Exchange Commission (the “SEC”) announcing its financial results for its second quarter ended November 1, 2025, which Original Report included a “presentation regarding AeroVironment Inc’s second quarter fiscal 2026 financial results dated December 9, 2025” (the “Original Presentation”) as Exhibit 99.2.

This Current Report on Form 8-K/A amends the Original Report to (i) furnish a revised version of the Original Presentation (the “Revised Presentation”) to correct the reported amount of unfunded backlog in the Original Presentation and to include a slide with the Revised Presentation to detail the change in unfunded backlog from the end of the Company’s first fiscal quarter ended August 2, 2025 to the end of its second fiscal quarter ended November 1, 2025, and (ii) for ease of reference, to provide an updated statement regarding the Company’s unfunded backlog under Item 8.01. Total unfunded backlog as of November 1, 2025, as disclosed on slides 3, 4 and 17 of the Original Presentation and on page 39 of the Company’s Quarterly Report on 10-Q filed December 10, 2025 (“Q2 10-Q”), was $3.0 billion, rather than $2.8 billion as previously reported in the Original Presentation and Q2 10-Q. Other than correcting this error, including the clarifying disclosure in Item 8.01, and including the additional slide in the Revised Presentation, all other information included in the Original Report is unchanged. The Revised Presentation is furnished with this Amendment as Exhibit 99.2 hereto.

Item 2.02.  Results of Operations and Financial Condition

On December 9, 2025, AeroVironment, Inc. (the “Company”) issued a press release announcing second quarter results for the period ended November 1, 2025, a copy of which is attached hereto as Exhibit 99.1.

Item 7.01. Regulation FD Disclosure

The information under Item 2.02 above is incorporated herein by reference.

Attached as Exhibit 99.2 hereto is a presentation containing additional information regarding the Company’s second quarter fiscal 2026 financial results for the period ended November 1, 2025. A copy of the presentation is also available on the investor relations section of the Company’s website at https://investor.avinc.com/events-and-presentations. The information contained on the Company’s website is not incorporated by reference into, and does not form a part of, this Current Report on Form 8-K.

In addition to historic information, this report, including the exhibits, contains forward-looking statements regarding events, performance and financial trends. Various factors could affect future results and could cause actual results to differ materially from those expressed in or implied by the forward-looking state