AVEX

EX-99.1

2 exhibit991-pressrelease1q2.htm

EX-99.1

Exhibit 99.1 - Press Release 1Q26 AEVEX 8-K

440 Stevens Ave. Ste 150 Solana Beach, CA 92075                                                                                                aevex.com

Press Release

For Immediate Release

Exhibit 99.1

AEVEX Corp. Announces Financial Results for First Quarter 2026

SOLANA BEACH, Calif., May 20, 2026 – AEVEX Corp. (NYSE: AVEX) ("AEVEX" or the Company)

announced results today for the three months ended March 31, 2026 ("First Quarter 2026").

First Quarter 2026 Highlights

•Total revenue of $216.7 million, up 307% from $53.3 million in Q1 2025

•Net Income of $21.0 million compared to a net loss of $27.3 million in Q1 2025

•Adjusted EBITDA* of $36.4 million compared to Adjusted EBITDA* of $(13.4) million in Q1 2025

Outlook for Full Year 2026

•Total revenue of $600.0 million to $620.0 million

•Adjusted EBITDA* of $88.0 million to $94.5 million

* See “Non-GAAP Financial Measures” below for an explanation of this measure. The Company is unable to provide a reconciliation for

forward-looking outlook of Adjusted EBITDA to net income (loss), the most closely comparable GAAP measure without unreasonable effort,

because certain material reconciling items cannot be estimated due to factors outside of the Company's control and could have a material impact

on the reported results. However, the Company estimates depreciation and amortization of approximately $21.3 million and interest expense of

approximately $13.2 million for the year ending December 31, 2026.

“AEVEX entered 2026 with strong momentum, and our first‑quarter performance reflects both continued

execution and the robust demand for the battle-tested autonomous systems and mission software we deliver. Across

our portfolio, our teams are delivering on key programs while scaling production to meet customer needs with speed

and reliability in an increasingly dynamic global environment,” said Roger Wells, CEO of AEVEX.

“We are particularly encouraged by the sustained customer adoption of our AI‑enabled autonomy solutions

powered by CompassX, along with our next‑generation solutions—capabilities that have been validated in

operational use and are increasingly central to customer modernization priorities.

As we move through the year, we remain disciplined in how we invest in innovation, manufacturing

capacity, and mission success. With a proven ability to deliver at scale, a robust pipeline, and deep alignment with

DoW and international allies' priorities, we believe AEVEX is well-positioned to create durable value for all

stakeholders. I’m proud of what our teams accomplished this quarter, and I’m confident in our continued execution

against our long‑term objectives.”

“AEVEX delivered a solid first quarter, driven by disciplined execution across both Tactical Systems and

Global Solutions and supported by funded backlog and healthy demand visibility. We saw balanced contributions

across our product and mission‑solutions portfolios, continued progress in improving cash flow, and prudent capital

deployment. As we move further into the year, we remain focused on scaling efficiently, strengthening margins, and

investing in autonomy and software capabilities aligned with long‑term customer demand, and our teams continue to

perform with discipline as we execute against our 2026 plan,” said Todd Booth, CFO of AEVEX

Total revenues increased to $216.7 million from $53.3 million, or by $163.4 million, for the three months

ended March 31, 2026, compared to the same period in 2025. The increase is primarily due to $161.0 million of

higher revenues in our Tactical Systems segment primarily from UAS products and $4.3 million of higher revenue

in our Global Solutions segment from aircraft modifications and testing products and services, which is offset by

$2.2 million of lower revenue in our Global Solutions segment primarily from a decrease in mission support,

intelligence, surveillance, and reconnaissance services.

For the three months ended March 31, 2026, our net income (loss) increased to net income of $21.0 million

and a net income margin of 9.7% from a net loss of $(27.3) million and a net loss margin of (51.3)%, or by $48.3

million, compared to the same period in 2025. The increase was primarily driven by a $49.4 million increase in

products gross profit, a $4.0 million increase in services gross profit and a $6.2 million decrease in research and

development expenses primarily for UAS products and services development activities. These favorable impacts

were partially offset by a $10.8 million increase in selling, general and administrative expenses, primarily due to a

$3.8 million increase in audit and accounting fees related to our IPO process, a $3.0 million increase in new

employee-related costs and a $1.1 million repurchase of Incentive Units.

For the three months ended March 31, 2026, Adjusted EBITDA was $36.4 million and A