The massive Q4 beat, record backlog, and FY2027 growth guidance confirm the BlueHalo acquisition is delivering as promised. Monitor Q1 FY2027 bookings and funded backlog conversion to validate the 10% revenue growth trajectory. The CFO change and elevated capex guidance (12-14% of revenue for facility expansion) bear watching for execution risk.
Price Chart
Executive Summary
AeroVironment reported Q4 FY2026 revenue of $641.6M (vs consensus $559.1M, +133% YoY) and non-GAAP EPS of $1.84 (vs consensus $1.47, +25% beat). FY2027 guidance calls for revenue of $2.125B-$2.225B (10% growth at midpoint) and adjusted EBITDA of $305M-$325M. GAAP results showed a $265.1M net loss for FY2026 including $240.7M goodwill impairment, but the Q4 GAAP net income was $63.2M ($1.25/diluted), swinging from prior quarterly losses.
Key Financial Metrics
Key Facts
- Q4 FY2026 revenue $641.6M, +133% YoY from $275.1M; $282.3M contributed by BlueHalo and ESAero acquisitions
- Non-GAAP EPS $1.84, 25% beat vs consensus $1.47; GAAP EPS $1.25
- FY2027 guidance: revenue $2.125B-$2.225B, non-GAAP EPS $3.02-$3.34, adjusted EBITDA $305M-$325M
- Record funded backlog of $1.2B; fiscal year bookings of $2.7B with 1.4 book-to-bill ratio
- FY2026 GAAP net loss of $265.1M including $240.7M goodwill impairment, but Q4 GAAP net income of $63.2M positive
Financial Impact
Q4 revenue beat by $82.5M (+15%); EPS beat by $0.37 (+25%)
Risk Factors
- FY2026 included $240.7M goodwill impairment from SCAR program stop-work order; Space segment unfunded backlog fell by $1.5B
- FY2027 GAAP EPS guidance of $0.16-$0.48 shows thin margin after $2.70/share in amortization; execution risk on large acquisitions
- CFO transition (Kevin McDonnell out; Sean T. Woodward in) adds leadership uncertainty
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 7 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001104659-26-078824 |
| Document: avav-20260629x8k.htm | 0001104659-26-078824 |
| Document: avav-20260629xex99d2.htm | 0001104659-26-078824 |
| Document: 0001104659-26-078824-index-headers.html | 0001104659-26-078824 |
| Document: 0001104659-26-078824-index.html | 0001104659-26-078824 |
| Document: 0001104659-26-078824.txt | 0001104659-26-078824 |
| 8-K Data (Synthetic) | 0001104659-26-078824 |
Track record builds as more directional reports settle.
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Aug 22, 2026 5w ago | Institutional Cluster | $148.20 $159.95 | ▲ +7.93% | ▲ +7.91% | $140.82 (−4.98%) |
Aug 7, 2026 8w ago | 8-K | $186.73 $144.65 | ▼ −22.54% | ▼ −22.14% | $140.82 (−24.59%) |
Jul 29, 2026 9w ago | 8-K | $142.12 $146.88 | ▲ +3.35% | ▼ −1.67% | $140.82 (−0.91%) |
Jun 29, 2026 13w ago | 8-K | $165.07 $154.24 | ▼ −6.56% | ▼ −5.53% | $140.82 (−14.69%) |
Jun 22, 2026 14w ago | 10-Q/A | $151.33 $142.20 | ▲ +6.03% | ▲ +5.89% | $140.82 (+6.95%) |
Jun 22, 2026 14w ago | 8-K | $151.33 $142.20 | ▲ +6.03% | ▲ +5.89% | $140.82 (+6.95%) |
Jun 11, 2026 16w ago | Institutional Cluster | $183.69 $148.40 | ▼ −19.21% | ▼ −21.10% | $140.82 (−23.34%) |
Apr 15, 2026 24w ago | 144 | $201.99 $160.99 | ▼ −20.30% | ▼ −26.11% | $140.82 (−30.28%) |
Apr 13, 2026 24w ago | 8-K | $194.39 $166.45 | ▼ −14.37% | ▼ −22.10% | $140.82 (−27.56%) |
Apr 9, 2026 25w ago | 8-K | $177.70 $174.37 | ▼ −1.87% | ▼ −9.44% | $140.82 (−20.75%) |
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