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AeroVironment Q2 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q2 2026 earnings summary9 Dec, 2025
Executive summary
Achieved record Q2 revenue of $472.5 million, up 151% year-over-year, driven by the BlueHalo acquisition, strong AxS segment sales, and new product launches.
Secured record Q2 contract awards totaling $3.5 billion, bookings of $1.4 billion, and a funded backlog of $1.1 billion, reflecting robust demand and long-term contract wins.
Net loss for the quarter was $17.1 million, or $(0.34) per diluted share, compared to net income of $7.5 million in the prior year, primarily due to higher amortization, acquisition-related expenses, and increased cost of sales.
BlueHalo acquisition, completed May 1, 2025, significantly expanded capabilities, contributed $134.4 million in product revenue and $110.7 million in service revenue for the quarter, and drove integration synergies.
Manufacturing expansion underway, including a new Salt Lake City facility with $2B+ annual capacity, to meet accelerating demand.
Financial highlights
Q2 revenue reached $472.5 million, up 151% year-over-year as reported and 9% on a pro forma basis; organic growth was 21%.
Adjusted EBITDA for Q2 was $45 million (9.5% of revenue), up from $25.9 million last year, driven by BlueHalo acquisition.
Gross margin was 22% (down from 39% year-over-year), with adjusted gross margin at 27–29% due to higher service mix and amortization.
Adjusted SG&A was $66.1 million (14% of revenue), up due to BlueHalo, with GAAP SG&A at $98.3 million (21% of revenue).
R&D expense was $36 million (7.6–8% of revenue), with full-year R&D expected at 6–8% of revenue.
Cash and investments at quarter-end totaled $669 million; cash and cash equivalents increased to $359.4 million from $40.9 million at fiscal year start.
Outlook and guidance
Fiscal 2026 revenue guidance raised to $1.95–$2.0 billion, representing ~15% growth over pro forma FY25.
Adjusted EBITDA guidance maintained at $300–$320 million; non-GAAP EPS projected at $3.40–$3.55.
Net loss forecasted between $(38) million and $(30) million for FY26.
82–93% visibility to the midpoint of revenue guidance, with significant second-half revenue and EBITDA expected in Q4.
Full-year adjusted gross margin expected in the low 30s%, improving to high 30s% by Q4.
Free cash flow conversion targeted at 50% of EBITDA for the year.
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Next AeroVironment earnings date
Q3 20263 Mar, 2026
Next AeroVironment earnings date
Q3 20263 Mar, 2026
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AeroVironment, Inc. (AV), headquartered in Monrovia, California, is a leading provider of electric transportation solutions and a developer of fast charging infrastructure that enable practical adoption of all-electric vehicles (EV). AV's comprehensive portfolio includes EV chargers for public and private vehicles, as well as advanced EV simulation and EV charging network management software. AV also offers aircraft design and development services for government agencies, businesses and individuals.
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