Aerovironment Stock Price, News & Analysis

AeroVironment (AVAV) announced the establishment of FreedomWerx, a 200,000-square-foot advanced manufacturing facility in Salt Lake City, Utah. The facility, part of AV's distributed production strategy, will enhance the company's capacity to deliver precision-strike autonomous systems to government and defense partners.

The strategic location near Salt Lake City International Airport optimizes logistics and supply chain efficiencies. The company plans to create over 500 high-paying jobs, contributing to Utah's economic growth and defense innovation sector.

FreedomWerx is expected to begin production in the second half of 2025, focusing on manufacturing Loitering Munitions Systems. The facility represents AV's approach to maintaining multiple, strategically located production sites to mitigate risks from natural disasters, security threats, and geopolitical disruptions.

AeroVironment (AVAV) has secured a significant contract from the Danish Defence Acquisition and Logistics Organisation (DALO) with a ceiling value of $181 million to provide JUMP® 20 medium uncrewed aircraft systems to the Danish Armed Forces. The 10-year program of record will enhance Denmark's intelligence, surveillance, and reconnaissance capabilities.

The JUMP 20 is a vertical take-off and landing fixed-wing UAS featuring 13+ hours of endurance and a 185 km operational range. The system boasts a 30-pound modular payload capacity and has accumulated over 300,000 operational flight hours. Key features include runway independence, autonomous launch and landing capabilities, and easy transportability.

This contract strengthens AeroVironment's position in the global autonomous solutions market and builds upon their existing relationship with the Danish Ministry of Defence.

AeroVironment (AVAV) has secured a $288 million delivery order for Switchblade® loitering munition systems from the U.S. Army. This marks the third delivery order under a 5-year Indefinite Delivery, Indefinite Quantity (IDIQ) contract with a ceiling value of $990 million, announced in August 2024.

The Switchblade system represents the next generation of extended-range loitering munition systems, offering multi-mission capabilities and multi-domain operations. The combat-proven system features high-precision optics and extended loitering endurance. AV emphasizes its reliable supply chain and manufacturing capacity to fulfill this important contract.

AeroVironment (AV) has secured a second delivery order worth $55.3 million for Switchblade® loitering munition systems under the U.S. Army's Directed Requirement for Lethal Unmanned Systems. This order is part of a larger 5-year IDIQ contract with a ceiling value of $990 million announced in August 2024.

The Switchblade system represents next-generation extended-range loitering munition technology, offering multi-mission capabilities and multi-domain operations. The combat-proven system features high-precision optics and extended loitering endurance. AV confirms their expanded production capability and streamlined supply chain are supporting rapid fielding and support for the U.S. Army.

AeroVironment (AVAV) has secured its position in a significant military contract after the U.S. Government Accountability Office (GAO) denied a protest challenging the U.S. Army's $990 million sole-source award for Switchblade systems. The protest, filed on September 6, 2024, contested the Army's procurement decision. The GAO's ruling validates the Army's procurement process and its assessment of operational requirements. The company will continue to deliver its combat-proven Switchblade systems to meet military operational needs.

AeroVironment reported strong fiscal 2025 second quarter results with record revenue of $188.5 million, up 4% year-over-year. The company posted net income of $7.5 million and non-GAAP adjusted EBITDA of $25.9 million. Funded backlog reached $467.1 million, showing a 25% increase from the previous quarter.

The company announced an agreement to acquire BlueHalo in an all-stock transaction valued at approximately $4.1 billion. Revenue growth was driven by the Loitering Munitions Systems segment (+157%) and MacCready Works (+42%), partially offset by a decrease in UnCrewed Systems (-35%). For fiscal 2025, the company maintains its guidance of revenue between $790-820 million and non-GAAP adjusted EBITDA between $143-153 million.

AeroVironment (NASDAQ: AVAV) announced the acquisition of BlueHalo in an all-stock transaction valued at approximately $4.1 billion. The merger creates a diversified defense technology leader, combining AeroVironment's expertise in uncrewed systems with BlueHalo's capabilities in space technologies, counter-UAS, directed energy, and electronic warfare. BlueHalo estimates over $900 million in revenues for 2024, with a funded backlog of nearly $600 million. The combined company is expected to generate more than $1.7 billion in revenue. Post-transaction, AeroVironment shareholders will own approximately 60.5% of the combined company, while BlueHalo equity holders will retain 39.5%. The deal is expected to close in the first half of 2025.

AeroVironment (NASDAQ: AVAV) has scheduled its second quarter fiscal year 2025 earnings announcement for December 4, 2024, after market close. The company will host a conference call and live audio webcast at 4:30 p.m. Eastern Time on the same day. Chairman, President, and CEO Wahid Nawabi, along with CFO Kevin P. McDonnell and VP of Corporate Development Jonah Teeter-Balin, will lead the discussion. The event will be accessible via webcast through the company's Investor Relations website, with an audio replay available afterward.

AeroVironment (AVAV) has introduced Project GOLD, a comprehensive software update package for its Puma 3 AE and Puma LE uncrewed aircraft systems. The upgrades enhance battlefield effectiveness in contested environments, particularly when GPS and communication signals are compromised. Key improvements include advanced Assured Position Navigation and Timing capabilities, enhanced Visual Navigation System, improved radio security, and a 60% increase in payload capacity up to 6.5lbs. The software-only updates require no hardware modifications and can be implemented on existing systems using the Puma Software Update Kit.