AeroVironment, Inc. reported financial results for the fiscal first quarter ended August 1, 2026, announcing record revenue and a significant increase in its funded backlog. The company recorded revenue of $480.5 million for the quarter, representing a 6% increase year-over-year compared to the $454.7 million reported in the prior year period. This growth was driven by higher product sales of $15.5 million and higher service revenue of $10.3 million.
From a segment perspective, the Autonomous Systems segment generated $346.0 million in revenue, while the Space, Cyber and Directed Energy segment recorded $134.5 million. The company reported a gross margin of $124.6 million, or 26% of revenue, an increase from the 21% margin reported in the prior year. This improvement was attributed to a decrease in intangible amortization and other non-cash purchase accounting expenses. However, the company incurred a net loss of $5.1 million, or $0.10 per diluted share, compared to a net loss of $67.4 million, or $1.44 per diluted share, in the prior year.
On the order front, AeroVironment reported bookings of $0.7 billion and a book-to-bill ratio of 1.4 for the quarter. As of August 1, 2026, the company’s funded backlog stood at $1.5 billion, a 37% increase from the $1.2 billion recorded as of April 30, 2026.
Management provided guidance for fiscal year 2027, projecting revenue between $2.125 billion and $2.225 billion. The company expects net income to range from $10 million to $27 million, with non-GAAP adjusted EBITDA projected between $305 million and $325 million. Non-GAAP earnings per diluted share are expected to be between $0.21 and $0.53, excluding the impact of intangible amortization and other non-cash purchase accounting expenses.
