AeroVironment reports first-quarter revenue of $480.5 million, up 6%

AeroVironment reported financial results on September 9, 2026, for the fiscal first quarter ended August 1, 2026. Revenue rose 6% to $480.5 million from $454.7 million a year earlier. The company posted a net loss of $5.1 million, or $0.10 per diluted share, compared with a net loss of $67.4 million, or $1.44 per diluted share, in the prior-year quarter.

Higher product sales added $15.5 million and higher service revenue added $10.3 million. Autonomous Systems generated revenue of $346 million, and Space, Cyber and Directed Energy generated $134.5 million. Gross margin was $124.6 million, up 31% from $95.1 million, and the loss from operations narrowed to $10.9 million from $69.3 million.

Non-GAAP adjusted EBITDA was $53.4 million, compared with $56.6 million a year earlier. Non-GAAP earnings per diluted share were $0.59, compared with $0.32. Bookings totaled $0.7 billion, for a book-to-bill ratio of 1.4. Funded backlog was $1.5 billion on August 1, 2026, up 37% from a year earlier and from $1.2 billion at April 30, 2026.

AeroVironment said it continues to expect fiscal 2027 net income of $10 million to $27 million, non-GAAP adjusted EBITDA of $305 million to $325 million, earnings per diluted share of $0.21 to $0.53, and non-GAAP earnings per diluted share of $3.02 to $3.34. The company said these estimates are subject to risks and uncertainties, including government contracting and spending, and that actual results may differ materially.

Chairman, President and Chief Executive Officer Wahid Nawabi said the company's priority is expanding manufacturing capacity across its sites and strengthening its supply chain.