AV Soars to New Heights in Q1 2027: Record Revenue, Funded Backlog, and Bookings Fuel Growth
AeroVironment (AV), a leading provider of intelligent, sustainable solutions for the aerospace, electric vehicle, and energy industries, has reported exceptional first-quarter fiscal year 2027 results. The company's Q1 performance has exceeded expectations, driven by strong growth in revenue, funded backlog, and bookings.
According to the company's Chairman, President, and Chief Executive Officer, Mr. Wahid Nawabi, AV's Q1 revenues reached a record $480 million, with a 37% increase in funded backlog to $1.5 billion. This significant growth is attributed to the company's focus on capturing key opportunities and executing them with excellence.
AV's Autonomous Systems segment contributed $346 million (72% of total revenue), while its Space, Cyber, and Directed Energy segment generated $134.5 million in revenue (28% of total revenue). The company's strong order flow and contract wins across multiple programs have positioned it for a record fiscal year 2027.
One of the notable achievements during Q1 was AV's selection as a supplier for the U.S. Army's LRR program, with an award of $117 million. This win demonstrates AV's expertise in developing innovative solutions for the military and further solidifies its position in the market.
The company's Chief Financial Officer, Mr. Sean Woodward, will review the financial results in greater detail during the earnings call. However, it is clear that Q1 has set a strong foundation for AV to deliver an even stronger fiscal year 2027.
AV's positive momentum carries over into the second quarter, with the company reaffirming its revenue guidance of between $2.125 billion and $2.225 billion and adjusted EBITDA guidance for fiscal year 2027 of between $305 million and $325 million.
The company's focus on growth opportunities, combined with its ability to execute them effectively, has positioned AV for continued success in the aerospace industry.
