ARLINGTON, Va., April 13, 2026 – AeroVironment, Inc. (“AV”) (NASDAQ: AVAV), a global defense technology leader, today announced the appointment of Sean T. Woodward as Executive Vice President and Chief Financial Officer, effective May 1, 2026. Woodward succeeds Kevin McDonnell, who will be stepping down from the role, as announced earlier this year. McDonnell will remain with the Company in an advisory role through July 2026 to help ensure a smooth transition of responsibilities.

Woodward is a seasoned finance leader with more than 22 years of experience in defense technology, including at AV, General Dynamics, and Honeywell Aerospace. Woodward joined AV in 2010 and has spent more than 15 years in leadership roles across the company supporting AV’s revenue growth and profitability that led AV to becoming a global defense technology leader with roughly $10 billion in market cap. Woodward most recently served as CFO of AV’s Autonomous Systems (AxS) segment, where he has been instrumental in growing and expanding several key franchise programs within AxS, and was responsible for the segment’s FP&A, operational finance, pricing and cost estimating, government accounting compliance, and program controls. Over his tenure at AV, Woodward has played a key role in building and scaling the finance organization, strengthening financial reporting, and supporting execution across the enterprise.

“Sean brings deep institutional knowledge and a strong understanding of our financial and business strategy, and he has been instrumental in AV achieving its strategic growth goals,” said Wahid Nawabi, Chairman, President and Chief Executive Officer. “Sean has played a critical role in commercializing several of our high-growth products, which are now key franchises for the company. His leadership has strengthened our finance organization while supporting AV’s expansion and integration efforts – a critical attribute that will play an increasingly important role as we internally build our systems and processes enabling AV to effectively scale. I look forward to continuing to work with Sean in his new role as CFO as we execute our growth strategy and deliver shareholder value.”

“I am honored to step into the role of CFO and look forward to building on our strong financial foundation,” said Woodward. “I am focused on continued collaboration with our leadership team in support of AV’s growth priorities to ensure the company remains well positioned for its next phase of execution.”

Woodward holds a Bachelor of Science in business management from the University of South Florida and an MBA with a concentration in Finance from the University of Tampa.

ARLINGTON, Va. and San Luis Obispo, CA. — March 16, 2026 — AeroVironment, Inc. (“AV” or the “Company”) (NASDAQ: AVAV) today announced that it has acquired Empirical Systems Aerospace, Inc. (“ESAero”), a leading producer of unmanned aircraft systems (UAS) and advanced air mobility (AAM) platforms.

ESAero is recognized for its deep engineering expertise, innovative electric and hybrid propulsion capabilities, rapid aerospace prototyping, and AS9100 Certified UAS manufacturing. Operating out of a 32,000 sq. ft. design and prototyping facility and a 53,000 sq. ft. manufacturing facility in San Luis Obispo, CA, with multiple integration and test facilities in the area, ESAero has expanded its operations to support system testing and advanced product development. ESAero’s culture of technical rigor and rapid innovation also aligns with AV’s mission-focused approach and commitment to developing mission-critical solutions tailored to U.S. Department of War requirements.

“ESAero brings an impressive agility in moving from design to manufacturing, which will accelerate AV’s ability to bridge the gap between conceptual design and manufacturing execution,” said Wahid Nawabi, Chairman, President, and Chief Executive Officer at AV. “ESAero’s capabilities are vital to addressing the urgent demands of a fast-growing defense tech market, where emerging needs are driving next-generation innovation and product development. We look forward to welcoming the team to the AV family.”

“Joining AV represents a unique opportunity to amplify the reach and impact of our innovative work and achieve greater success,” said Andrew Gibson, President, CEO and co-founder of ESAero. “By combining ESAero’s engineering and manufacturing capabilities with AV’s unmatched expertise in autonomous systems, we are positioned to advance disruptive aerospace technologies and deliver real, timely value for our customers. I’d like to thank the talented ESAero team for their unwavering dedication, whose efforts have brought us to this pivotal point in our journey.”

The acquisition will further solidify AV’s position as a global defense technology leader spanning air, land, sea, space, and cyber domains and enhance the Company’s ability to seamlessly transition from innovative design to advanced manufacturing—a capability critical to addressing the urgent demands of an evolving defense tech market.

The acquisition will also strengthen AV’s leadership in electric and hybrid propulsion systems while establishing ESAero’s AS9100-certified California facilities as a center of excellence for advanced prototyping and manufacturing. These facilities specialize in conceptual air vehicle designs, electric and hybrid propulsion system development, aircraft modifications, sub-scale technology demonstrators, rapid system prototyping, design for and full-scale manufacturing.

The acquisition of ESAero follows AV’s $4.1 billion acquisition of BlueHalo in May 2025, marking the second transaction for the defense tech leader in less than a year. Together, these moves signal AV’s intent to integrate best-in-class innovation hubs into a cohesive suite of capabilities trusted by governments and industries worldwide.

Transaction Details

Under the terms of the agreement, AV acquired ESAero in a transaction valued at approximately $200 million, with approximately $160 million in stock and the remainder in cash, subject to post-closing adjustments and holdbacks. The transaction is expected to be accretive to adjusted EBITDA in the first year following the close.

ESAero will operate as a subsidiary of AV, reporting into AV’s Precision Strike and Defense Systems group, under the Loitering Munition Systems business unit, furthering production capability in AV’s existing line of loitering munitions, missiles, drones and existing adjacent domains. ESAero leadership and employees are expected to integrate into AV’s operations and culture post-close.

ARLINGTON, VA, March 10, 2026 — AeroVironment, Inc. (NASDAQ: AVAV) (“AeroVironment” or the “Company”) reported today financial results for the fiscal third quarter ended January 31, 2026.

Third Quarter Highlights:

• Third quarter revenue of $408.0 million
• Bookings of $2.1 billion and book-to-bill ratio of 1.6 for the first nine months of the fiscal year
• Record funded backlog of $1.1 billion

“While our third quarter results were impacted by revenue timing and adjustments in our Space business, demand for our unique solutions remains robust,” said Wahid Nawabi, AeroVironment chairman, president and chief executive officer. “Strong order flow and growth in funded backlog during the quarter are setting the stage for record fourth quarter revenue and a solid start to fiscal year 2027. We are executing with discipline, scaling manufacturing ahead of demand and accelerating the commercialization of our platforms to improve profitability and time to market. We believe there are tremendous opportunities ahead for AV to shape the next era of defense and we remain confident in our ability to deliver long-term shareholder value.”

FISCAL 2026 THIRD QUARTER RESULTS

Revenue for the third quarter of fiscal 2026 was $408.0 million and $1.3 billion of revenue for the first nine months of the fiscal year. Revenue for third quarter of fiscal 2026 increased 143% as compared to $167.6 million for the third quarter of fiscal 2025, due to higher product sales of $138.1 million and higher service revenue of $102.3 million. The acquisition of BlueHalo on May 1, 2025 contributed to $85.1 million and $91.4 million of the current quarter product and service revenue, respectively. From a segment standpoint, Autonomous Systems (“AxS”) recorded revenue of $278.7 million and Space, Cyber and Directed Energy (“SCDE”) recorded revenue of $129.3 million.

Gross margin for the third quarter of fiscal 2026 was $98.8 million, an increase of 56% as compared to $63.2 million for the third quarter of fiscal 2025, reflecting higher product margin of $19.1 million and higher service margin of $16.5 million. Fiscal 2026 third quarter gross margin was negatively impacted by $12.7 million of intangible amortization expense and other related non-cash purchase accounting expenses, as compared to $3.7 million in the third quarter of fiscal 2025. As a percentage of revenue, gross margin fell to 24% from 38%, primarily due to an increase in the proportion of service revenue resulting from the BlueHalo acquisition and the increased amortization and other non-cash purchase accounting expenses.

Impairment of goodwill for the third quarter of fiscal 2026 was $151.3 million. In January 2026, a stop-work order was received on the Company’s Other Transaction Agreement for the delivery of BADGER phased array antenna systems to support Space Force’s Satellite Communication Augmentation Resource (“SCAR”) program. We concluded that the stop-work order represented a trigger event that indicated the carrying value of the Space reporting unit exceeded its fair value. As a result, we updated our estimates of the long-term cash flows of the Space reporting unit to reflect the reduced revenue associated with the stop-work order as well as an increase in expected research and development and capital investments to achieve product commercialization, which is expected to result in expanded opportunities and improve long term product margins. The changes in estimates resulted in the recognition of a goodwill impairment charge of $151.3 million in the Space reporting unit.

Loss from operations for the third quarter of fiscal 2026 was $(179.0) million as compared to $(3.1) million for the third quarter of last fiscal year. The current quarter was negatively impacted by $43.9 million of intangible amortization and other related non-cash purchase accounting expenses as compared to $4.8 million in the third quarter of fiscal 2025. The decrease year-over-year was primarily due to the goodwill impairment of $151.3 million recorded during the third quarter of fiscal 2026 related to Space, an increase in selling, general and administrative (“SG&A”) expense of $55.6 million, which includes an increase of $30.1 million of intangible amortization expense and incremental headcount resulting from our acquisition of BlueHalo which closed on May 1, 2025, partially offset by a decrease of $3.1 million of acquisition related expenses, an increase in research and development (“R&D”) expense of $4.6 million, partially offset by an increase in gross margin of $35.6 million.

Other income, net for the third quarter of fiscal 2026 was $3.3 million, as compared to $0.7 million for the third quarter of fiscal 2025. The increase year-over-year was primarily due to an increase in interest income due to a combination of higher cash and investment balances and lower interest bearing debt balances.

Benefit from income taxes for the third quarter of fiscal 2026 was $(19.5) million, as compared to $(0.6) million for the third quarter of last fiscal year. The increase year-over-year was primarily due to the loss before income taxes, partially offset by non-deductible goodwill impairment.

Net loss for the third quarter of fiscal 2026 was $(156.6) million, or $(3.15) per diluted share, as compared to $(1.8) million, or $(0.06) per diluted share, in the prior-year period, respectively. The current quarter was negatively impacted by goodwill impairment charges of $151.3 million, or $2.95 per diluted share, and $43.9 million, or $0.70 per diluted share, of intangible amortization and other related non-cash purchase accounting expenses as compared to $4.8 million, or $0.13 per diluted share, in the third quarter of fiscal 2025.

Non-GAAP adjusted EBITDA for the third quarter of fiscal 2026 was $44.5 million and non-GAAP earnings per diluted share were $0.64, as compared to $21.8 million and $0.30, respectively, for the third quarter of fiscal 2025.

BACKLOG

As of January 31, 2026, funded backlog (defined as remaining performance obligations under firm orders for which funding is currently appropriated to us under a customer contract) was $1.1 billion, as compared to $726.6 million as of April 30, 2025.

FISCAL 2026 — OUTLOOK FOR THE FULL YEAR

For fiscal year 2026, the Company now expects revenue of between $1.85 billion and $1.95 billion, net loss of between $(218) million and $(201) million, non-GAAP adjusted EBITDA of between $265 million and $285 million, loss per diluted share of between $(4.44) and $(4.10) and non-GAAP earnings per diluted share, which excludes amortization of intangible assets, other non-cash purchase accounting expenses, goodwill impairment, equity securities investments gains or losses, and equity method income or loss of between $2.75 and $3.10.

The foregoing estimates are forward-looking and reflect management’s view of current and future market conditions, subject to certain risks and uncertainties, including certain assumptions with respect to our ability to efficiently and on a timely basis integrate acquisitions, obtain and retain government contracts, changes in the timing and/or amount of government spending, react to changes in the demand for our products and services, activities of competitors, changes in the regulatory environment, and general economic and business conditions in the United States and elsewhere in the world. Investors are reminded that actual results may differ materially from these estimates and investors should review all risks related to achievement of the guidance reflected under “forward-looking statements” below and in the Company’s filings with the Securities and Exchange Commission.

In conjunction with this release, AeroVironment, Inc. will host a conference call today, Tuesday, March 10, 2026, at 4:30 pm Eastern Time that will be webcast live. Wahid Nawabi, chairman, president and chief executive officer, Kevin P. McDonnell, executive vice president and chief financial officer, and Denise Pacioni, investor relations director, will host the call.

Investors may access the call by registering via the following participant registration link up to ten minutes prior to the start time.

Participant registration URL:
https://register-conf.media-se…

Investors may also listen to the live audio webcast via the Investor Relations page of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.

A supplementary investor presentation for the third quarter fiscal year 2026 can be accessed at https://investor.avinc.com/events-and-presentations.

Audio Replay

An audio replay of the event will be archived on the Investor Relations section of the Company’s website at http://investor.avinc.com.

About AeroVironment, Inc.

AeroVironment (“AV”) (NASDAQ: AVAV) is a defense technology leader delivering integrated capabilities across air, land, sea, space, and cyber. The Company develops and deploys autonomous systems, loitering munitions, counter-UAS technologies, space-based platforms, directed energy systems, and cyber and electronic warfare capabilities—built to meet the mission needs of today’s warfighter and tomorrow’s conflicts. At the core of these technologies lies AV_Halo, a modular, mission-ready suite of AI-powered software tools that empowers warfighters and enables full-battlefield dominance: detect, decide, deliver. With a national manufacturing footprint and a deep innovation pipeline, AV delivers proven systems and future-defining capabilities at speed, scale, and operational relevance. For more information, visit www.avinc.com.

Safe Harbor Statement

Certain statements in this press release may constitute “forward-looking statements” as that term is defined in the Private Securities Litigation Reform Act of 1995. These statements are made on the basis of current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from those expressed or implied. Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, our ability to perform under existing contracts and obtain additional contracts; changes in the regulatory environment; the activities of competitors; failure of the markets in which we operate to grow; failure to expand into new markets; failure to develop new products or integrate new technology with current products; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

CONTACT:

AeroVironment
+1.703.418.2828
pr@avinc.com

ARLINGTON, Va., January 27, 2026 –  AeroVironment, Inc. (“AV”) (NASDAQ: AVAV) will participate in TD Cowen’s upcoming Annual Aerospace & Defense Conference in Arlington, Virginia. AV’s executive vice president and MacCready Works Group General Manager, Jeffrey Rodrian and AV’s Head of Investor Relations, Denise Pacioni, will take part in a fireside chat on February 11, 2026 at 8:30 a.m. ET | 7:30 a.m. CT | 5:30 a.m. PT. The fireside chat will be available by webcast at the times listed above and archived on our website.