Second Quarter Fiscal Year 2024 Earnings Presentation December 5, 2023 026250 Slide 1 | © 2022 AeroVironment, Inc. Safe Harbor Statement Certain statements in this presentation may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticip ...

Revenue and Income - Revenue for the three months ended October 28, 2023, was $180.8 million, a 62% increase from $111.6 million for the same period in 2022[181]. - Revenue for the six months ended October 28, 2023 was $333.2 million, an increase of $113.1 million or 51% compared to $220.1 million for the same period in 2022[196]. - Net income for the three months ended October 28, 2023, was $17.8 million, compared to a net loss of $6.6 million for the same period in 2022[181]. - Net income for the six months ended October 28, 2023 was $39.7 million, compared to a net loss of $15.0 million for the same period in 2022[194]. - Adjusted income from operations for the three months ended October 28, 2023 was $30.7 million, compared to a loss of $5.9 million for the same period in 2022[184]. Gross Margin and Expenses - Gross margin for the three months ended October 28, 2023, was $75.4 million, compared to $25.9 million for the same period in 2022, reflecting a significant improvement[181]. - Gross margin for the six months ended October 28, 2023 was $141.0 million, an increase of $81.4 million or 137% compared to $59.6 million for the same period in 2022[200]. - Research and development expenses for the three months ended October 28, 2023, were $22.0 million, up from $16.6 million in the same period in 2022[181]. - Selling, general, and administrative expenses for the three months ended October 28, 2023, were $28.1 million, compared to $23.6 million for the same period in 2022[181]. - SG&A expense for the six months ended October 28, 2023 was $52.0 million, or 16% of revenue, down from $45.6 million or 21% of revenue in the prior year[201]. - R&D expense for the six months ended October 28, 2023 was $37.5 million, or 11% of revenue, compared to $31.6 million or 14% of revenue for the same period in 2022[201]. Cash Flow and Backlog - Net cash used in operating activities for the six months ended October 28, 2023 was $(25.6) million, a decrease from net cash provided of $31.9 million in the prior year[218]. - Funded backlog as of October 28, 2023 was approximately $487.0 million, up from $424.1 million as of April 30, 2023[206]. - Unfunded backlog as of October 28, 2023 was $173.2 million, which does not guarantee future orders[207]. Adjustments and Impairments - Favorable cumulative catch-up adjustments for the three months ended October 28, 2023, amounted to $4.1 million, primarily due to final cost adjustments on seven contracts[165]. - Unfavorable cumulative catch-up adjustments for the same period were $1.3 million, related to higher than expected costs on seven contracts[165]. - For the six months ended October 28, 2023, favorable cumulative catch-up adjustments totaled $5.6 million, while unfavorable adjustments were $2.0 million[170]. - The company recognized a goodwill impairment charge of $156.0 million in the MUAS reporting unit during the fiscal year ended April 30, 2023, due to decreased projected future cash flows[176]. - The company has not identified any events that could trigger an impairment review prior to the annual goodwill impairment test as of October 28, 2023[177]. Financing and Investments - The company sold 807,370 shares for total gross proceeds of $91.3 million during the three and six months ended October 28, 2023[209]. - The total purchase price for the Tomahawk acquisition was $134.5 million, consisting of $109.8 million in stock and $24.2 million in cash[216]. - Net cash used in investing activities increased by $41.1 million to $37.6 million for the six months ended October 28, 2023, compared to net cash provided of $3.4 million for the same period in 2022[221]. - Net cash provided by financing activities increased by $42.5 million to $31.5 million for the six months ended October 28, 2023, compared to net cash used of $10.9 million for the same period in 2022[222]. Market Risks and Accounting - The current outstanding balance of the Credit Facilities is $80.0 million, bearing a variable interest rate, which may increase if market interest rates continue to rise[225]. - The company is exposed to various market risk factors, including fluctuations in interest rates and foreign currency exchange rates[224]. - The company has not experienced significant foreign exchange gains or losses, as a significant part of sales and expenses are denominated in U.S. dollars[226]. - The company engages in forward contracts in foreign currencies to limit exposure on non-U.S. dollar transactions[226]. - The company did not adopt any new accounting standards during the six months ended October 28, 2023[223].

AeroVironment, Inc. (NASDAQ:AVAV) Q1 2024 Earnings Call September 5, 2023 4:30 PM ET Company Participants Jonah Teeter-Balin - Senior Director of Corporate Development and Investor Relations Wahid Nawabi - Chairman, President and Chief Executive Officer Kevin McDonnell - Senior Vice President and Chief Financial Officer Conference Call Participants Greg Konrad - Jefferies Peter Arment - Baird Ken Herbert - RBC Bryce Sandberg - William Blair Pete Skibitski - Alembic Global Operator Good day, and thank you fo ...

First Quarter Fiscal Year 2024 Earnings Presentation September 5, 2023 026250 Slide 1 © 2023 AeroVironment, Inc. Safe Harbor Statement Certain statements in this presentation may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipat ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended July 29, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33261 AEROVIRONMENT, INC. (Exact name of registrant as specified in its charter) Delaware 95-2705790 (State or other jur ...

AeroVironment, Inc. (NASDAQ:AVAV) Q4 2023 Earnings Conference Call June 27, 2023 4:30 PM ET Company Participants Jonah Teeter-Balin - Senior Director, Corporate Development and Investor Relations Wahid Nawabi - President and Chief Executive Officer Kevin McDonnell - Senior Vice President and Chief Financial Officer Conference Call Participants Kenneth Herbert - RBC Capital Markets Louie DiPalma - William Blair Greg Konrad - Jefferies Jan-Frans Engelbrecht - Baird Operator Good day and thank you for standing ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the fiscal year ended April 30, 2023 ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 For the transition period from to Commission file number 001-33261 AEROVIRONMENT, INC. (Exact name of registrant as specified in its charter) Delaware 95-2705790 (State or other jurisdiction of ...

Slide 1 © 2023 AeroVironment, Inc. 052620 Third Quarter Fiscal Year 2023 Earnings Presentation March 6, 2023 Safe Harbor Statement Certain statements in this presentation may constitute "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as "believe," "anticipate," ...

AeroVironment, Inc. (NASDAQ:AVAV) Q3 2023 Earnings Conference Call March 6, 2023 4:30 PM ET Company Participants Jonah Teeter-Balin - Senior Director-Corporate Development & IR Wahid Nawabi - President and Chief Executive Officer Kevin McDonnell - Senior Vice President and Chief Financial Officer Conference Call Participants Peter Arment - R.W. Baird Austin Moeller - Canaccord Genuity Louie DiPalma - William Blair Ken Herbert - RBC Capital Markets Brian Ruttenbur - Imperial Capital Pete Skibitski - Alembic ...

Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-Q ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934. For the quarterly period ended January 28, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number: 001-33261 AEROVIRONMENT, INC. (Exact name of registrant as specified in its charter) Delaware 95-2705790 (State or other ...