AeroVironment reported record fiscal first-quarter 2027 revenue of $480.5 million, up 6% year over year, as demand remained strong across its autonomous systems, space, cyber and directed-energy businesses.
The defense technology company recorded $700 million of bookings and a book-to-bill ratio of 1.4. Funded backlog reached a record $1.5 billion, up 37% year over year.
Autonomous Systems generated $346 million of revenue, while Space, Cyber and Directed Energy contributed $134.5 million.
Gross profit increased 31% to $124.6 million, with gross margin expanding to 26% from 21%. AeroVironment’s operating loss narrowed significantly to $10.9 million from $69.3 million.
Net loss improved to $5.1 million, or $0.10 per diluted share, from a $67.4 million loss, or $1.44 per share, in the prior-year quarter.
Non-GAAP adjusted EBITDA was $53.4 million, compared with $56.6 million, while non-GAAP diluted EPS increased to $0.59 from $0.32.
AeroVironment continues to expand manufacturing capacity and strengthen its supply chain as customers deploy autonomous and other defense technologies at increasing scale.
For fiscal 2027, the company maintained guidance for $2.125 billion to $2.225 billion of revenue, $10 million to $27 million of net income, adjusted EBITDA of $305 million to $325 million, and non-GAAP diluted EPS of $3.02 to $3.34.
KEY QUOTE:
“AV’s fiscal year 2027 is off to a strong start, with record first-quarter revenue and funded backlog and landmark strategic wins. Our team is united in our mission to execute with discipline and capture demand for the key franchise programs that matter most to our customers, and that is exactly what we did in the first quarter.”
“Our customers are continuing to field autonomous capabilities at increasing scale, and our priority is expanding manufacturing capacity across our sites and strengthening our supply chain so we can deliver for our customers at the speed their missions require. We are excited for the opportunities ahead as we extend our track record of value creation for shareholders, customers and all stakeholders that rely on AV.”
Wahid Nawabi, Chairman, President and Chief Executive Officer of AeroVironment
