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AeroVironment, Inc. (NASDAQ: AVAV) is a pioneering company with over 45 years of innovation in the fields of security, energy, and infrastructure management. The company's primary focus is on providing actionable intelligence through its advanced unmanned aircraft systems (UAS), tactical missile systems, and high-altitude pseudo-satellites. AeroVironment stands out as the largest supplier of small UAS to the Pentagon and numerous allied nations.
AeroVironment's breakthrough products give users the ability to gain critical situational awareness. These sophisticated 'eyes in the sky' are crucial for intelligence, reconnaissance, and surveillance. The company's UAS have proven indispensable on the battlefield, saving countless lives by providing real-time intelligence to troops. Similarly, on the home front, these systems promise significant benefits in areas such as disaster response, law enforcement, and infrastructure monitoring.
Operating under a single business segment, AeroVironment caters primarily to government agencies within the United States Department of Defense and allied international governments. The company's offerings include a range of unmanned systems designed to enhance security, facilitate surveillance, and provide robust sensing capabilities. This allows for extensive monitoring without requiring a human presence in potentially dangerous situations.
Recent achievements highlight AeroVironment's commitment to innovation and excellence. The company regularly collaborates with various defense and government agencies to develop and deploy cutting-edge technology solutions. Financially, AeroVironment has shown strong performance, driven by growing demand for their advanced systems and services. Its strategic partnerships and continuous investment in research and development ensure that AeroVironment remains at the forefront of the unmanned systems industry.
AeroVironment reported record fiscal Q4 2024 revenue of $197 million, a 6% increase YoY, and full-year revenue of $716.7 million, up 33% YoY. The company achieved a Q4 net income of $6 million and an adjusted EBITDA of $22.2 million. For the fiscal year, net income reached $60 million with an adjusted EBITDA of $127.8 million. AeroVironment forecasts fiscal 2025 revenue between $790 million and $820 million, indicating nearly 12% top-line growth. The Loitering Munitions Segment significantly contributed to the revenue increase with 74% YoY growth. Gross margin increased to 38% due to higher service margins. However, funded backlog decreased to $400.2 million from $424.1 million YoY. The company projects fiscal 2025 net income between $74 million and $83 million, adjusted EBITDA between $143 million and $153 million, and non-GAAP EPS between $3.18 and $3.49 per diluted share.
AeroVironment (AV) has successfully tested its JUMP 20 uncrewed aircraft system (UAS) with a heavy fuel engine. This upgrade enhances performance, fuel efficiency, and operational lifespan. The JUMP 20, a VTOL UAS, now offers 13+ hours of endurance and a range of 185 km, running on multiple fuels. The new engine requires less maintenance and features auto-start capability. Shane Hastings, VP and GM of Medium UAS, highlighted the system's suitability for land and sea domains, meeting heavy fuel compatibility requirements. AV plans to continue optimizing the JUMP 20 for extreme conditions.
AeroVironment (NASDAQ: AVAV) is set to release its financial results for the fourth quarter and full fiscal year ending April 30, 2024, after market close on June 26, 2024. The company will also host a conference call and audio webcast at 4:30 p.m. ET to discuss these results.
The call will feature key executives including CEO Wahid Nawabi, CFO Kevin P. McDonnell, and Senior Director of Corporate Development Jonah Teeter-Balin. Interested investors can register for the conference call via a provided link or listen to the live webcast on the company's Investor Relations website. An audio replay will be available post-event.
AeroVironment (NASDAQ: AVAV) will host its 2024 Analyst and Investor Day in New York City on June 27. The event will provide stakeholders with an overview of the company’s portfolio and examine its long-term goals and overall business health.
Management presentations and discussions will start at 8:30 a.m. ET, featuring Wahid Nawabi, chairman, president, and CEO; Kevin P. McDonnell, senior VP and CFO; along with other executive management team members.
The event will be live webcast on AeroVironment's Investor Relations website, with a video replay available post-event.
AeroVironment (AVAV) was selected by DARPA for the development of the Wildcat Autonomous VTOL UAS as part of the ANCILLARY program. The Wildcat UAS is designed for ship-based operations in challenging maritime environments. It features a long-endurance, large-payload capacity, and uses SPOTR-Edge machine learning for enhanced mission effectiveness. The Wildcat meets DARPA's objectives with a 450 nmi mission radius, 12-hour endurance, and the ability to operate in high sea states and winds. Additionally, it offers modular payload capacity and requires minimal infrastructure for launch and recovery. AVAV will further develop Wildcat in collaboration with DARPA and the Office of Naval Research.
AeroVironment’s Switchblade 600, a loitering munition system, has been selected for Tranche 1 of the U.S. Department of Defense’s Replicator initiative. The initiative aims to accelerate autonomous systems to warfighters, prioritizing attritable capabilities to counter peer adversaries. Switchblade 600 is a battle-proven system with advanced sensors and precision flight control, offering quick deployment and engagement of non-line of sight targets.
AeroVironment, Inc. (AVAV) will participate in the Bank of America Transportation, Airlines, and Industrials Conference in NYC. The company's CFO will present on May 16th. The presentation can be accessed on AVAV's website.
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