AeroVironment Inc Fair Value Disclosure
3. Fair Value Measurements
Fair value is the price that would be received to sell an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction between market participants on the measurement date. The fair value hierarchy contains three levels as follows:
| ● | Level 1—Inputs to the valuation based upon quoted prices (unadjusted) for identical assets or liabilities in active markets that are accessible as of the measurement date. |
| ● | Level 2—Inputs to the valuation include quoted prices in either markets that are not active, or in active markets for similar assets or liabilities, inputs other than quoted prices that are observable, and inputs that are derived principally from or corroborated by observable market data. |
| ● | Level 3—Inputs to the valuation that are unobservable inputs for the asset or liability. |
The Company’s financial assets measured at fair value on a recurring basis at April 30, 2026, were as follows (in thousands):
Fair Value Measurement Using | |||||||||||||
| | Significant | | | |||||||||
Quoted prices in | other | Significant | |||||||||||
active markets for | observable | unobservable | |||||||||||
identical assets | inputs | inputs | |||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | |||||||||
Available-for-sale securities | $ | — | $ | 276,031 | $ | — | $ | 276,031 | |||||
Total | $ | — | $ | 276,031 | $ | — | $ | 276,031 | |||||
The Company had no financial liabilities measured at fair value on a recurring basis at April 30, 2026.
The Company’s financial assets measured at fair value on a recurring basis at April 30, 2025, were as follows (in thousands):
Fair Value Measurement Using | ||||||||||||
| | Significant | | | ||||||||
Quoted prices in | other | Significant | ||||||||||
active markets for | observable | unobservable | ||||||||||
identical assets | inputs | inputs | ||||||||||
Description | (Level 1) | (Level 2) | (Level 3) | Total | ||||||||
Equity securities | $ | 1,080 | $ | — | $ | — | $ | 1,080 | ||||
Warrants | — | 124 | — | 124 | ||||||||
Total | $ | 1,080 | $ | 124 | $ | — | $ | 1,204 | ||||
The Company had no financial liabilities measured at fair value on a recurring basis at April 30, 2025.
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Historical Timeline
| Fiscal Year | Filed | |
|---|---|---|
| 2026 | Jun 29, 2026 | Showing above |
| 2025 | Jun 25, 2025 | |
| 2023 | Jun 28, 2023 | |
| 2022 | Jun 29, 2022 | |
| 2021 | Jun 29, 2021 | |
| 2020 | Jun 24, 2020 | |
| 2019 | Jun 26, 2019 | |
| 2018 | Jun 27, 2018 | |
| 2017 | Jun 28, 2017 | |
| 2016 | Jun 29, 2016 | |
About Fair Value Disclosures
Fair value disclosures classify all assets and liabilities measured at fair value into a three-level hierarchy: Level 1 (quoted market prices), Level 2 (observable inputs like yield curves), and Level 3 (unobservable inputs requiring management estimates). The proportion of Level 3 assets directly reflects how much of the balance sheet depends on internal models rather than market evidence.
Key signals: a growing Level 3 balance relative to total fair-value assets increases valuation uncertainty and earnings volatility risk. Watch for transfers between levels — assets moving from Level 2 to Level 3 often signal deteriorating market liquidity. Unrealized gains and losses on Level 3 positions flow through earnings or other comprehensive income, so large swings deserve scrutiny. For financial institutions, examine the sensitivity disclosures that show how Level 3 valuations change under alternative assumptions. Compare the fair value of debt against its carrying amount to gauge hidden leverage.