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AeroVironment

AeroVironment (AVAV) Q4 2026 Earnings

Reported Jun 29, 2026 at 4:08 PM ET · SEC Source

Q4 26 EPS

$1.84

BEAT +25.01%

Est. $1.47

Q4 26 Revenue

$641.6M

BEAT +14.76%

Est. $559.1M

Full Year 2026 Results

FY 26 EPS

$3.31

BEAT +15.27%

Est. $2.87

FY 26 Revenue

$1.98B

BEAT +4.14%

Est. $1.90B

Market Reaction

Did AVAV Beat Earnings? Q4 2026 Results

AeroVironment delivered a decisive earnings beat in Q4 fiscal 2026, posting adjusted EPS of $1.84 against a consensus estimate of $1.47, a 25.01% beat, while revenue of $641.62 million topped expectations by 14.76% and surged 133.3% year-over-year. T… Read more AeroVironment delivered a decisive earnings beat in Q4 fiscal 2026, posting adjusted EPS of $1.84 against a consensus estimate of $1.47, a 25.01% beat, while revenue of $641.62 million topped expectations by 14.76% and surged 133.3% year-over-year. The transformational driver was clear: the May 2025 acquisition of BlueHalo and the March 2026 addition of Empirical Systems Aerospace together contributed $282.30 million of Q4 revenue, creating an entirely new Space, Cyber and Directed Energy segment alongside the legacy Autonomous Systems business. Within that legacy segment, Precision Strike and Defensive Systems stood out, generating $333.00 million in Q4 pro forma revenue, up 80%, fueled by robust Switchblade munitions demand. Gross margins compressed from 36% to 32% as acquisition-related amortization charges weighed on profitability, and the company faces ongoing securities litigation tied to the terminated SCAR program contract. Looking ahead, management guided fiscal 2027 revenue of $2.13 billion to $2.23 billion, with non-GAAP adjusted EPS of $3.02 to $3.34, as capital spending ramps to 12%-14% of revenue to expand manufacturing capacity.

Key Takeaways

  • • Precision Strike & Defensive Systems drove 80% pro forma growth in Q4 with $333M revenue
  • • BlueHalo and ESAero acquisitions contributed $282.3 million of Q4 revenue
  • • Record Q4 adjusted EBITDA margin of 22% driven by strong AxS sales and favorable mix
  • • 31% organic revenue growth year-over-year in Q4
  • • Record bookings of $2.7 billion for fiscal year with 1.4x book-to-bill ratio

AVAV Forward Guidance & Outlook

For fiscal year 2027 (ending April 30, 2027), AeroVironment expects revenue of $2.125 billion to $2.225 billion (approximately 10% year-over-year growth at midpoint), net income of $8 million to $24 million, non-GAAP adjusted EBITDA of $305 million to $325 million (14% margin at midpoint), GAAP EPS of $0.16 to $0.48, and non-GAAP adjusted EPS of $3.02 to $3.34. Revenue is expected to be weighted 45% in the first half and 55% in the second half, with adjusted EBITDA split approximately one-third / two-thirds. Capital expenditures are expected to increase to 12%-14% of revenue to support manufacturing capacity and facility expansion. Deal and integration expenses are expected to be approximately $10 million, and stock-based compensation approximately $44 million.

24/7 Wall St

AVAV YoY Financials

Q4 2026 vs Q4 2025, source: SEC Filings

24/7 Wall St

AVAV Revenue by Segment

With YoY comparisons, source: SEC Filings

Q3 25 Q4 26

“Fiscal 2026 marked a transformational year for AV, which included the completion of our largest acquisition, meaningful investments toward diversifying our portfolio in critical areas aligned to our customer's highest priorities, and the strongest financial performance in our history.”

— Wahid Nawabi, Q4 2026 Earnings Press Release

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