AeroVironment reported fourth quarter fiscal 2026 revenue of $641.6 million and GAAP EPS of $1.25. The results significantly beat analyst expectations, with non-GAAP EPS of $1.84 exceeding the $1.53 consensus estimate, driven by major acquisition contributions.

Key Highlights

  • Fourth quarter revenue grew 133% year-over-year to a record $641.6 million, with recent acquisitions contributing $282.3 million to the total.
  • Gross margin declined to 32% from 36% in the prior year, a key point of investor focus, attributed to a higher mix of service revenue from the BlueHalo acquisition and purchase accounting expenses.
  • The company ended fiscal 2026 with a record funded backlog of $1.2 billion, an increase of 65% year-over-year, supported by a full-year book-to-bill ratio of 1.4.
  • Initial fiscal 2027 guidance projects revenue between $2.125 billion and $2.225 billion, with non-GAAP EPS expected in the range of $3.02 to $3.34.