Summary by Moomoo AI
AeroVironment delivered record first quarter revenue of $189.5 million, up 24% YoY, with net income of $21.2 million. The growth was primarily driven by a 68% increase in Loitering Munition Systems revenue and 22% growth in UnCrewed Systems. Gross margin remained stable at 43% despite higher intangible amortization expenses.The company secured a significant U.S. Army Lethal Unmanned Systems IDIQ contract in August 2024 with a ceiling value of $990 million and initial funding of $128 million. As of July 27, 2024, funded backlog stood at $372.9 million, compared to $400.2 million at April 30, 2024.Management reaffirmed fiscal 2025 guidance, projecting revenue between $790-820 million, net income of $74-83 million, and adjusted EBITDA of $143-153 million. The outlook reflects continued momentum in core segments and new contract wins, though actual results remain subject to government spending patterns and market conditions.
