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Reported Q: Q2 2025 Rev YoY: +4.2% EPS YoY: -59.1% Move: -4.94%

AeroVironment Inc

AVAV

$177.70 -4.94%

Exchange NASDAQ Sector Industrials Industry Aerospace Defense

Q2 2025

Published: Dec 5, 2024

Company Status Snapshot

Fast view of the latest quarter outcome for AVAV

Reported

Report Date

Dec 5, 2024

Quarter Q2 2025

Revenue

188.46M

YoY: +4.2%

EPS

0.27

YoY: -59.1%

Market Move

-4.94%

Previous quarter: N/A

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Earnings Highlights

Revenue of $188.46M up 4.2% year-over-year
EPS of $0.27 decreased by 59.1% from previous year
Gross margin of 39.1%
Net income of 7.54M
"Revenue rose to $188 million, representing a new second-quarter record for the company. LMS was the strongest revenue growth driver with nearly $78 million in Q2 revenue; a 61% year-over-year increase." - Wahid Nawabi

AVAV

Company AVAV

Period Q2 2025

Currency USD

Report Type Quarterly Earnings

Generated Apr 10, 2026

Swipe to view all report sections

Executive Summary

AeroVironment reported a robust second quarter of fiscal 2025 (QQ2 2025) with revenue of $188.46 million, a new quarterly record and up 4.2% year over year. The strength was driven primarily by the Loitering Munition Systems (LMS) segment, which posted $77.7 million in revenue, a 157% YoY increase, underscoring the strong demand for Switchblade variants and the stabilization of the UCAS awards. The Uncrewed Systems (UxS) segment delivered approximately $85.4 million in revenue, but was down 36% YoY largely due to a sharp drop in Ukraine-related sales, highlighting AVAV’s ongoing strategic pivot to diversify revenue sources away from Ukraine exposure. MacCready Works contributed $25.3 million, with HAPS-related activity fueling top-line growth in that segment.

Key Performance Indicators

Revenue

Increasing

188.46M

QoQ: -0.54% | YoY: 4.23%

Gross Profit

Decreasing

73.64M

39.07% margin

QoQ: -7.68% | YoY: -2.27%

Operating Income

Decreasing

7.01M

QoQ: -69.62% | YoY: -72.17%

Net Income

Decreasing

7.54M

QoQ: -64.36% | YoY: -57.72%

EPS

Decreasing

0.27

QoQ: -64.47% | YoY: -59.09%

Revenue Trend

Margin Analysis

Financial Highlights

Key quarterly metrics and trends (Q2 FY2025 vs Q2 FY2024 where available):
- Revenue: $188.46M, up 4.23% YoY; QoQ: -0.54% (per earnings data).
- Gross margin: GAAP 39.0%; adjusted gross margin 41.0% (lower vs. prior-year due to mix shift toward LMS).
- Operating income: GAAP 7.01M; adjusted EBITDA: $25.90M (down vs. $39.5M prior-year, reflecting higher SG&A/R&D in the period).
- Net income: $7.54M; GAAP EPS: $0.27; Adjusted/diluted non-GAAP EPS: $0.47.
- Backlog: funded backlog $467.1M (up 25% QoQ); unfunded backlog approximately $1.8B; 95% visibility to the midpoint of revenue guidance.
- Segments mix (Q2): UxS $85.4M (down 36% YoY, Ukraine exposure declined); LMS $77.7M (up 157% YoY); MacCready Works $25.3M.
- Cash and liquidity: cash and cash equivalents end of period $68.96M; total cash/investments $91.2M; total debt $35.28M; net debt to cash flow position: net cash approx. -$33.68M.
- Guidance: reaffirmed FY2025 revenue, adjusted EBITDA, and non-GAAP EPS; Q3 projected to be ~40% of H2 revenue; BlueHalo transaction pending close in H1 2025 (pro forma guidance to reflect post-close).

Income Statement

Metric	Value	YoY Change	QoQ Change
Revenue	188.46M	4.23%	-0.54%
Gross Profit	73.64M	-2.27%	-7.68%
Operating Income	7.01M	-72.17%	-69.62%
Net Income	7.54M	-57.72%	-64.36%
EPS	0.27	-59.09%	-64.47%

Key Financial Ratios

Gross Profit Margin

Fair

39.10%

Gross profit margin is moderate, room for improvement in cost management

Operating Profit Margin

Weak

3.72%

Operating margin is below industry norms, profitability concerns

Net Profit Margin

Fair

4.00%

Net profit margin is moderate, room for improvement in cost management

Return on Assets

Weak

0.74%

Return on assets suggests inefficient capital allocation

Return on Equity

Weak

0.88%

Return on equity suggests inefficient capital allocation

Current Ratio

Strong

4.61

Current ratio indicates excellent liquidity and financial flexibility

Debt to Equity

Conservative

0.04

Debt-to-equity shows conservative leverage and low financial risk

P/E Ratio

High Growth

205.07x

Very high P/E indicates aggressive growth expectations, higher risk

Price to Book

High Premium

7.21x

Very high premium suggests asset-light business model or lofty expectations

Historical Earnings Comparison

Period	Revenue ($M)	EPS ($)	YoY Growth	Report
Q2 2026	183.89	-0.31	-2.4%	View
Q1 2026	313.53	-1.44	+65.5%	View
Q4 2025	242.23	0.59	+23.0%	View
Q3 2025	167.64	-0.06	-10.2%	View
Q2 2025	188.46	0.27	+4.2%	View

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AeroVironment Inc (AVAV) Q2 2025 Earnings Report

Company Status Snapshot

Earnings Highlights

Executive Summary

Key Performance Indicators

Revenue Trend

Margin Analysis

Historical Earnings Comparison

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