AeroVironment(AVAV) - 2025 Q4 - Earnings Call Presentation

Financial Performance - Fiscal Year 2025 - The company achieved a record full fiscal year revenue of $821 million, a 14% increase year-over-year, driven by higher product sales in LMS[5, 6] - GAAP Gross Margin increased by 12% to $318.6 million, attributed to higher product gross margin offsetting a slight decrease in service gross margin[6] - Non-GAAP Adjusted EBITDA increased by 15% to $146.4 million due to higher revenue and gross margin[6] - Non-GAAP EPS (diluted) increased by 10% to $3.28 due to higher revenue and gross margin[6] - The company's funded backlog increased significantly by 82% to $726.6 million, driven by increased demand for LMS and UxS products[6, 8] - Unfunded backlog saw a substantial increase of 472% to $774.6 million, primarily due to multiple Switchblade orders[6, 8] Financial Performance - Fourth Quarter Fiscal Year 2025 - The company achieved record fourth-quarter revenue of $275 million, up 40% year-over-year, driven by strong product sales in LMS[5, 8] - Non-GAAP EPS (diluted) increased by 274% to $1.61, driven by higher revenue, gross margin, and a decrease in R&D, partially offset by an increase in SG&A[8] - Non-GAAP Adjusted EBITDA increased significantly by 178% to $61.6 million, driven by higher revenue, gross margin, and a decrease in R&D, partially offset by an increase in SG&A[8] Fiscal Year 2026 Outlook - The company anticipates FY26 revenue between $1.9 and $2.0 billion[5] - Adjusted EBITDA for FY26 is projected to be between $300 million and $320 million, representing approximately 16% of revenue at the midpoint[17]