AVAV on Nasdaq

AeroVironment

Logo: Avincreports, CC0, via Wikimedia Commons4

American unmanned aerial vehicle manufacturer

AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft.3 From Wikipedia, CC BY-SA 4.0

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Last updated Oct 16, 2026.

Overview

$2.0BRevenue, fiscal 20265
-$265.1MNet income, fiscal 20265
1971Founded1

Compare with EMBRAER S.A., AIRO Group Holdings, Inc. or Joby Aviation, or pick any stock.

  • TickerAVAV on Nasdaq1
  • Industryaerospace industry1
  • HeadquartersSimi Valley1
  • Websitewww.avinc.com
  • Legal formDelaware corporation1
  • Incorporated inDE6
  • Business address241 18Th Street South, Suite 650, Arlington, Va 222026
  • Filer categoryLarge accelerated filer6

AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo in 2025, the company provides directed energy and space communications systems to U.S. and foreign militaries.3

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

25.3%Gross margin5
-15.7%Operating margin5
-13.4%Net margin5
140.9%Revenue growth, 20265
-6.0%Return on equity5
0.17×Debt to equity5
-$140.9MFree cash flow5

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Precision Strike and Defense Systems brought in 43% of the revenue AeroVironment broke down this way in fiscal 2026.

  1. Precision Strike and Defense Systems$848.3M543%up 136% from 2025
  2. Uncrewed Aircraft Systems$363.9M518%up 3% from 2025
  3. Cyber and Mission Solutions$345.4M517%
  4. Space and Directed Energy$273.4M514%
  5. Product and Service, Other$145.9M57%up 34% from 2025
Products and services by year
Products and services202420252026
Precision Strike and Defense Systems$192.6M$359.4M$848.3M
Uncrewed Aircraft Systems$407.7M$352.0M$363.9M
Cyber and Mission Solutions$345.4M
Space and Directed Energy$273.4M
Product and Service, Other$116.5M$109.2M$145.9M

Business segments

Autonomous Systems brought in 69% of the revenue AeroVironment broke down this way in fiscal 2026.

  1. Autonomous Systems$1.4B569%up 65% from 2025
  2. Space, Cyber and Directed Energy$618.8M531%
Business segments by year
Business segments202420252026
Autonomous Systems$716.7M$820.6M$1.4B
Space, Cyber and Directed Energy$618.8M

Regions

Geographic Distribution, Domestic brought in 72% of the revenue AeroVironment broke down this way in fiscal 2026.

  1. Geographic Distribution, Domestic$1.4B572%up 264% from 2025
  2. International$556.4M528%up 29% from 2025
Regions by year
Regions202420252026
Geographic Distribution, Domestic$271.7M$390.7M$1.4B
International$445.0M$429.9M$556.4M

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue71¢$1.5B
  • Research and development6¢$127.7M
  • Selling, general and admin21¢$443.3M
  • Income tax1¢$23.1M

Out of $2.0B in revenue.5 The company lost money this year.

Financial statements

Revenue891011125$2.0B in 2026+529% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $314.3M$314.3M20192020: $367.3M$367.3M2020+17%2021: $394.9M$394.9M2021+8%2022: $445.7M$445.7M2022+13%2023: $540.5M$540.5M2023+21%2024: $716.7M$716.7M2024+33%2025: $820.6M$820.6M2025+14%2026: $2.0B$2.0B2026+141%
Gross profit891011125$500.6M in 2026+290% since 2019
0$200.0M$400.0M$600.0M2019: $128.4M$128.4M20192020: $153.1M$153.1M2020+19%2021: $164.6M$164.6M2021+7%2022: $141.2M$141.2M2022−14%2023: $173.5M$173.5M2023+23%2024: $283.9M$283.9M2024+64%2025: $318.6M$318.6M2025+12%2026: $500.6M$500.6M2026+57%
Operating income891011125-$311.0M in 2026
-$400.0M-$300.0M-$200.0M-$100.0M0$100.0M2019: $33.8M$33.8M20192020: $47.1M$47.1M2020+39%2021: $43.3M$43.3M2021−8%2022: -$9.9M-$9.9M20222023: -$178.7M-$178.7M2023+1707%2024: $71.8M$71.8M20242025: $40.8M$40.8M2025−43%2026: -$311.0M-$311.0M2026
Net income891011125-$265.1M in 2026
-$300.0M-$200.0M-$100.0M0$100.0M2019: $47.4M$47.4M20192020: $41.1M$41.1M2020−13%2021: $23.3M$23.3M2021−43%2022: -$4.2M-$4.2M20222023: -$176.2M-$176.2M2023+4109%2024: $59.7M$59.7M20242025: $43.6M$43.6M2025−27%2026: -$265.1M-$265.1M2026

Every line of the income statement in the latest annual report, as filed.5

Period ending2026-04-302025-04-302024-04-30
Revenue$2.0B$820.6M$716.7M
Cost of sales$1.5B$502.0M$432.8M
Total gross margin$500.6M$318.6M$283.9M
Selling, general and administrative$443.3M$158.8M$114.4M
Research and development$127.7M$100.7M$97.7M
Impairment of goodwill$240.7M$18.4M
(Loss) income from operations-$311.0M$40.8M$71.8M
Interest expense, net-$5.6M-$2.2M-$4.2M
Other income (expense), net$11.0M$1.1M-$4.4M
(Loss) income before income taxes-$305.6M$39.7M$63.2M
(Benefit from) provision for income taxes-$23.1M$882.0K$1.9M
Equity method investment income (loss), net of tax$17.4M$4.8M-$1.7M
Net (loss) income-$265.1M$43.6M$59.7M
Basic (in dollars per share)-$5.40$1.56$2.19
Diluted (in dollars per share)-$5.40$1.55$2.18
Basic (in shares)49.1M shares28.0M shares27.2M shares
Diluted (in shares)49.1M shares28.2M shares27.3M shares

Compare AeroVironment with another company

The story

Founded by Paul MacCready in 1971.1

On January 7, 2024, AeroVironment was sanctioned by the Chinese government due to U.S. arms sales to Taiwan. On March 4, 2025, the Chinese Ministry of Commerce placed 15 U.S. entities (including AeroVironment) on its export control list, barring the export of dual-use commodities to that business.

In May 2025, AeroVironment announced it had completed its acquisition of BlueHalo, a developer of space, cyber, and counter-UAS defense technologies, from Arlington Capital Partners, in an all-stock deal with a transaction value of approximately $4.1 billion.

From Wikipedia’s article on AeroVironment, shared under CC BY-SA 4.0.7

Leadership

Who has led AeroVironment, and when. Pick a name to see everywhere that person has worked.

Products and brands

Vehicles

Among the vehicles the company built are:

Gossamer Condor – The first successful human-powered airplane. The Gossamer Condor is on display at the US National Air and Space Museum (NASM), since it won the first Kremer Prize in 1977.

Gossamer Albatross – In 1979, this human-powered plane flew 23 miles (37 km) across the English Channel and claimed the largest prize in aviation history. Another of these planes is displayed at the National Air and Space Museum.

Gossamer Penguin – A solar-powered variant of the Gossamer Albatross.

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Solar Challenger – This plane flew 163 miles (262 km) from Paris, France, to England on solar power.

High Altitude Solar (HALSOL)-This solar-powered unmanned aircraft was sponsored by the CIA in the 1980s as the first unmanned solar-powered aircraft prototyped for national security missions. It was declassified and transferred to the Ballistic Missile Defense Organization (BMDO) in 1993, where it was modified as a high altitude, long endurance (HALE) UAV technology demonstrator capable of becoming weaponized to destroy boost-phase theater ballistic missiles (Boost Phase Intercept).The goal was to develop the world's first "fly forever" HALE UAV that could be configured for national security missions. The program was cancelled in 1995, due to budget reductions in the Clinton Administration at which time the aircraft, called Pathfinder, was transferred to NASA. Pathfinder flew flight test missions at NASAs Dryden Flight Research Center before the transfer.

NASA Pathfinder and Pathfinder Plus – This unmanned plane, built by AeroVironment as a part of the NASA Environmental Research Aircraft and Sensor Technology (ERAST) Program, demonstrated that an airplane could stay aloft for extended periods fueled by solar power. After initial successes, the Pathfinder was rebuilt into the larger Pathfinder Plus, which is on display at NASM.

NASA Centurion – The Centurion was an expansion of the Pathfinder concept, designed to achieve the ERAST Program goal of sustained flight at 100,000 feet (30,000 m) altitude.

NASA Helios Prototype – Derived from the Centurion, this solar cell and fuel cell powered UAV set a world record for flight at 96,863 feet (29,524 m). It was intended to be the prototype for the production Helios aircraft, envisioned as an "atmospheric satellite". The ERAST program was terminated in 2003, and as of 2008, Helios has not entered production. In actuality, it has been reborn in the form of the Global Observer UAS, currently in development under a Joint Concept Technology Demonstration led by United States Special Operations Command (USSOCOM]). The key technology shift was switching from solar power to liquid hydrogen power.

Global Observer – The Los Angeles Times reported first flight of Global Observer in the Mojave Desert in January, 2011. The aircraft was powered by hydrogen. It appears to have 4 motors with twin-bladed props, a 175-foot (53 m) wingspan, 65,000-foot (20,000 m) maximum altitude, airspeed greater than 120 mph (190 km/h), and 5 to 7 day maximum flight duration.

Sunraycer – This solar-powered car won the first world's first solar car race in Australia in 1987. The next fastest car finished two days later. This car is at the Smithsonian National Museum of American History.

GM Impact – This was an electric car, developed as a prototype for a mass-production consumer car.

RQ-11 Raven – a small military UAV. It is hand launched with a wingspan of 4.5 feet (1.4 m) and a weight of 4.2 pounds (1.9 kg), providing color and infrared video to its handheld ground control and remote viewing stations. Over 9,000 Ravens had been delivered or were on order as of June 2008.

Wasp III – a miniature, hand-launched UAV that provides aerial observation at line-of-sight ranges up to 3.1 miles (5.0 km). In 2007, the Wasp was selected by the US Air Force as the choice for their BATMAV Program. As of 2008, over 1,000 Wasp aircraft had been delivered.

RQ-20 Puma – a small lightweight, battery powered, hand-launched production UAV that provides aerial observation at line-of-sight ranges up to 6.2 miles (10.0 km). Puma's avionics enable autonomous flight via GPS navigation. It was designed to demonstrate advanced propulsion technologies. It flew in June 2007 for five hours, powered by an onboard "fuel cell battery hybrid energy storage system". A flight in November 2007 lasted more than seven hours. On July 2, 2008, USSOCOM selected the Puma AE variant as its All Environment Capable Variant (AECV) solution.

Nano Hummingbird – Announced in 2011, a hummingbird look-alike drone equipped with a camera, it could fly at speeds of up to 11 miles (18 km) per hour. It could climb and descend vertically, fly sideways, forward and backward, as well as rotate clockwise and counter-clockwise by remote control for about eight minutes.

SkyTote – a vertical take-off and landing (VTOL)-fixed wing hybrid UAV, which offered VTOL takeoff capability and decreased energy usage.

Switchblade – A man-portable family of electrically powered loitering munition for field use. It is deployed in two configurations, the 300 for attacking personnel and the 600 for attacking armor.

FQM-151 Pointer

RQ-14 Dragon Eye

Puma LE (Long Endurance)

VAPOR Helicopter

Shrike – quadrocopter drone designed for "perch and stare" surveillance, weighs 5 lb (2.27 kg) with a 40 minute endurance while hovering or can land and transmit for several hours.

Snipe – a quadrotor design small enough to be deployed by an individual to collect surveillance. It weighs 5 oz (0.14 kg), can reach speeds of 20 mph (32 km/h) with a range of more than 0.6 mi (0.97 km). It has flight times of 15 minutes, can withstand winds of 15 mph (24 km/h), and is equipped with EO/IR. It is low light-capable and includes long-wave infrared sensors to take photos or video in day or night conditions. In May 2017, the first 20 Snipes were delivered to an undisclosed U.S. military customer.

Quantix – drone, 40 km range, 45 min flight time, 2.3 kg weight, controlled via encrypted radio, automated, programmed autonomous flights possible, multifunctional camera.

Red Dragon – One-way attack drone designed for autonomous strike, weighs 45 lb (20 kg) and has a range of 250 mi (400 km). It is equipped with AI that uses visual for navigation and automatic target recognition to counter jamming.

Subsidiaries

AeroVironment owns Skytower, Inc., which was formed in 2000 to develop the technologies and government approvals to use high altitude UAVs as "atmospheric satellites", or high altitude communications relay platforms.

In July 2002, the NASA/AeroVironment UAV Pathfinder Plus carried commercial communications relay equipment developed by Skytower to test using the aircraft as an "atmospheric satellite". Skytower, in partnership with NASA and the Japan Ministry of Telecommunications used the aircraft to transmit both an HDTV signal as well as an IMT-2000 wireless communications signal from 65,000 ft (20,000 m). It was the equivalent of a 12 mi (19 km) tall transmitter tower. Because of the aircraft's high angle, the transmission utilized only one watt of power, or 1/10,000 that required by a terrestrial tower to provide the same signal. According to SkyTower's Stuart Hindle, "SkyTower platforms are basically geostationary satellites without the time delay." Hindle said that such platforms flying in the stratosphere, as opposed to actual satellites, can achieve much higher levels of frequency use. "A single SkyTower platform can provide over 1,000 times the fixed broadband local access capacity of a geostationary satellite using the same frequency band, on a bytes per second per square mile basis."

In January 2021, the company acquired Arcturus UAV, the manufacturer of the Arcturus T-20 UAV for US$405m.

From Wikipedia’s article on AeroVironment, shared under CC BY-SA 4.0.7

Subsidiaries and ownership

Owners

  • Dimensional Fund Advisors 49%
  • The Vanguard Group 13.2%

From Wikidata.1

Timeline

  1. 1971Founded Founded1

Recent filings

  1. Sep 30, 20268-K
  2. Sep 17, 20264
  3. Sep 17, 20264
  4. Sep 16, 20264
  5. Sep 10, 202610-Q
  6. Sep 9, 20268-K
  7. Aug 19, 20264
  8. Aug 14, 2026DEF 14A
  9. Aug 14, 2026ARS
  10. Aug 14, 2026144
  11. Aug 14, 20264
  12. Aug 14, 20263
  13. Aug 7, 20268-K
  14. Jul 29, 20268-K
  15. Jul 27, 2026SCHEDULE 13G/A

Every filing from the last three years, summarized. The full record is on SEC EDGAR.2