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Jan 29, 2022
AeroVironment Q3 2022 Earnings Report
AeroVironment experienced revenue increase but faced challenges in gross margin and operating income during the third quarter of fiscal year 2022.
Key Takeaways
AeroVironment reported a 14% increase in revenue for Q3 2022, reaching $90.1 million, driven by higher service revenue and acquisitions. However, the company faced challenges as gross margin decreased to 24% from 36%, and operating loss increased to $14.1 million. The company maintains its full year guidance.
Revenue increased by 14% to $90.1 million, driven by higher service revenue and acquisitions.
Gross margin decreased to 24% from 36% due to lower product margin and increased intangible amortization expense.
Operating loss increased to $14.1 million due to lower gross margin and higher SG&A expenses.
Funded backlog was $226.3 million as of January 29, 2022, compared to $211.8 million as of April 30, 2021.
Forward Guidance
For fiscal year 2022, the Company continues to expect revenue of between $440 million and $460 million, net loss of between $12 million and $8 million, Non-GAAP adjusted EBITDA of between $59 million and $65 million, loss per diluted share of between $(0.47) and $(0.33) and non-GAAP earnings per diluted share, which excludes litigation settlement expenses, acquisition-related expenses and amortization of intangible assets, of between $1.23 and $1.37.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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