AeroVironment Inc

Listed Company

AVAVCIK 0001368622NasdaqLarge AcceleratedAircraftDelawareFY ends Apr 30

Period

FY 2025

Revenue

—

Net Income

$43.62M

Total Assets

$1.12B

Equity

$886.51M

Shares Out

49.93M

Op. Cash Flow

$-1.32M

Business

AeroVironment Inc is a defense technology provider that develops and deploys integrated autonomous, precision strike, counter‑UAS, space, directed energy, cyber and electronic warfare capabilities across air, land, sea, space and cyber domains. Its main products and services include uncrewed aircraft systems (SUAS, MUAS), loitering munitions, RF and kinetic C‑UAS systems, directed energy weapons, space-qualified hardware, phased array antennas, laser communications, cyber operations and mission systems, and related command-and-control software and support. The company operates through two reportable segments: Autonomous Systems; and Space, Cyber and Directed Energy. It sells primarily to the U.S. Department of Defense, U.S. government agencies, allied and coalition governments, public safety agencies and commercial customers via direct sales, foreign military sales and program contracts.

Summary from filing dated 2025-06-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Revenue	821	717	541	446	395
Cost of sales	502	433	367	304	230
Total gross margin	319	284	174	141	165
Selling, general and administrative	159	114	132	96	67
Research and development	101	98	64	55	54
Impairment of goodwill	18	156	156	—	—
Income (loss) from operations	41	72	−179	−10	43
Interest expense, net	−2	−4	−9	−5	−618,000
Other income (expense), net	1	−4	−346,000	−10	−8
Income (loss) before income taxes	40	63	−188	−19	34
Provision for (benefit from) income taxes	882,000	2	−15	−10	539,000
Equity method investment gain (loss), net of tax	5	−2	−2	5	−10
Net income (loss)	44	60	−176	−4	23
Net income attributable to noncontrolling interest	—	—	−45,000	−3,000	—
Net income (loss) attributable to AeroVironment, Inc.	44	60	−176	−4	23
Basic (in dollars per share)	1.56	2.19	−7.04	−0.17	0.97
Diluted (in dollars per share)	1.55	2.18	−7.04	−0.17	0.96
Basic (in shares)	28	27	25	25	24
Diluted (in shares)	28	27	25	25	24

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Cash and cash equivalents	41	73	133	77	149
Accounts receivable, net of allowance for doubtful accounts of $203 at April 30, 2025 and $159 at April 30, 2024	102	70	88	60	63
Unbilled receivables and retentions	290	199	106	104	72
Inventories, net	144	150	139	91	72
Income taxes receivable	622,000	—	—	442,000	—
Prepaid expenses and other current assets	29	22	12	12	15
Total current assets	607	516	477	369	402
Long-term investments	32	21	24	15	12
Property and equipment, net	51	47	40	62	59
Operating lease right-of-use assets	32	30	27	27	23
Deferred income taxes	61	41	27	7	2
Intangibles, net	49	72	44	97	106
Goodwill	257	276	181	334	314
Other assets	33	14	5	2	10
Total assets	1,121	1,016	825	914	929
Accounts payable	72	48	31	19	25
Wages and related accruals	44	44	36	25	28
Customer advances	16	11	17	9	7
Current portion of long-term debt	—	10	8	10	10
Current operating lease liabilities	10	10	8	7	6
Income taxes payable	356,000	4	2	759,000	861,000
Other current liabilities	29	17	20	30	19
Total current liabilities	172	145	121	101	96
Long-term debt, net of current portion	30	17	126	178	188
Non-current operating lease liabilities	24	23	21	22	19
Other non-current liabilities	2	2	746,000	768,000	10
Liability for uncertain tax positions	6	6	3	1	4
Deferred income taxes	—	664,000	2	3	—
Commitments and contingencies	—	—	—	—	—
Authorized shares-10,000,000; none issued or outstanding at April 30, 2025 and April 30, 2024	—	—	—	—	—
Issued and outstanding shares-28,267,517 shares at April 30, 2025 and 28,134,438 shares at April 30, 2024	4,000	4,000	4,000	2,000	2,000
Additional paid-in capital	619	598	384	267	260
Accumulated other comprehensive loss	−7	−6	−4	−7	343,000
Retained earnings	274	231	171	347	351
Total stockholders' equity	887	823	551	608	612
Total liabilities and stockholders' equity	1,121	1,016	825	914	929

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Depreciation and amortization	41	36	100	61	19
(Gain) loss from equity method investments	−5	2	2	−6	10
Loss on deconsolidation of previously controlled subsidiary	—	—	189,000	—	—
Amortization of debt issuance costs	1	1	845,000	789,000	145,000
Provision for doubtful accounts	43,000	4,000	99,000	−6,000	−114,000
Reserve for inventory excess and obsolescence	3	14	8	2	1
Other non-cash expense, net	3	1	2	649,000	−449,000
Non-cash lease expense	10	10	8	7	5
Loss on foreign currency transactions	491,000	22,000	119,000	233,000	1,000
Unrealized (gain) loss on available-for-sale equity securities, net	−177,000	4	132,000	—	—
Deferred income taxes	−20	−23	−19	−7	−2
Stock-based compensation	21	17	11	5	7
Loss on disposal of property and equipment	311,000	621,000	1	8	123,000
Amortization of debt securities discount	—	—	125,000	242,000	309,000
Accounts receivable	−32	19	−27	3	17
Unbilled receivables and retentions	−91	−93	−1	−32	8
Inventories	3	−23	−62	−29	−6
Income taxes receivable	−590,000	—	442,000	−442,000	—
Prepaid expenses and other assets	−21	−20	−4	−5	−6
Accounts payable	22	13	13	−7	3
Other liabilities	303,000	−3	−3	−7	6
Net cash provided by operating activities	−1	15	11	−10	87
Acquisition of property and equipment and capitalized software to be sold	−23	−23	−15	−22	−11
Contributions in equity method investments	−6	−3	−6	−7	−3
Equity security investments	—	—	−5	—	—
Business acquisitions, net of cash acquired	—	−24	−5	−46	−386
Acquisition of intangibles	—	−2	—	—	—
Proceeds from deconsolidation of previously controlled subsidiary, net of cash deconsolidated	—	—	−635,000	—	—
Redemptions of available-for-sale investments	—	—	26	36	146
Purchase of available-for-sale investments	—	—	−1	−24	−126
Other	—	—	−250,000	224,000	—
Net cash used in investing activities	−28	−52	−7	−52	−379
Proceeds from revolving credit facility	40	—	—	—	—
Principal payments of term loan	−28	−107	−55	—	—
Principal payments of revolver	−10	—	—	—	—
Holdback and retention payments for business acquisition	−390,000	−500,000	—	−8	−1
Payment of contingent consideration	—	−2	—	—	—
Proceeds from shares issued, net of issuance costs	—	88	105	—	—
Payment of debt issuance costs	−1	−37,000	—	−293,000	−4
Payment of equity issuance costs	−3	—	—	—	—
Tax withholding payment related to net settlement of equity awards	−4	−2	−1	−1	−2
Employee stock purchase plan contributions	2	—	—	—	—
Exercise of stock options	2	0	2	3	2
Other	−23,000	−24,000	−28,000	−31,000	—
Net cash (used in) provided by financing activities	−3	−23	51	−17	194
Effects of currency translation on cash and cash equivalents	225,000	−284,000	397,000	−1	—
Net (decrease) increase in cash and cash equivalents	−32	−60	56	−80	−98
Income taxes	25	20	3	2	2
Interest	2	7	10	5	—
Issuance of common stock for business acquisition	—	110	—	—	72
Unrealized gain on available-for-sale investments, net of deferred tax expense of $0 for the fiscal years ended April 30, 2023	—	—	53,000	−43,000	−60,000
Change in foreign currency translation adjustments	−922,000	−1	2	7	75,000
Issuances of inventory to property and equipment, ISR in-service assets	—	—	6	17	769,000
Acquisitions of property and equipment included in accounts payable	2	986,000	721,000	1	756,000

Filings

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