AeroVironment, Inc. develops and reports on defense technology systems for air, land, sea, space and cyber operations. Company announcements regularly cover autonomous systems, loitering munitions, counter-unmanned aircraft systems, space-based platforms, directed energy systems and cyber and electronic warfare capabilities.
Recurring developments include U.S. government awards and prototype agreements, product introductions such as Halo_Shield and MAYHEM 10, demonstrations of the LOCUST laser weapon system, and program updates for platforms including Switchblade 400 and VAPOR CLE. News also covers investor conference participation and updates tied to AV_Halo, the company's modular AI-powered software suite.
AeroVironment (NASDAQ: AVAV) announced a firm-fixed-price multi-million dollar order from the Latvian Ministry of Defense on July 8, 2021. The order includes telemax EVO HYBRID and tEODor EVO unmanned ground vehicles (UGVs) along with engineering support for the Latvian National Armed Forces. Delivery is expected by late 2021. The UGVs enhance the safety and efficiency of Explosive Ordnance Disposal units in identifying and neutralizing explosive devices, allowing operations from greater distances.
AeroVironment (NASDAQ: AVAV), through its subsidiary Telerob, has completed an order for the telemax EVO HYBRID unmanned ground vehicle (UGV) for the United States Pentagon Force Protection Agency (PFPA). This vehicle is designed for use in hazardous environments by EOD and HAZMAT technicians, enhancing safety and operational efficiency. The UGV features a 6-axis precision manipulator and advanced communication systems to support various missions, including explosive ordnance disposal and radiological assessments.
AeroVironment (AVAV) reported Q1 fiscal 2022 results, revealing a 16% year-over-year revenue increase to $101 million, driven by service revenue growth. However, the company also experienced a net loss of $14 million and loss per share of $0.57. Gross margin decreased to 28% due to lower margins from recent acquisitions. Despite these challenges, AeroVironment holds a record funded backlog of $257.7 million and maintains its guidance for FY2022 revenue between $560 million and $580 million.
AeroVironment, Inc. (NASDAQ: AVAV), a leader in robotic systems, announced its participation in two upcoming virtual conferences. CEO Wahid Nawabi, CFO Kevin McDonnell, and Director Jonah Teeter-Balin will present at the RBC Capital Markets Global Industrials Virtual Conference on September 10, 2021, and at the Raymond James Defense and Government Services Conference on September 23, 2021. Live audio webcasts will be available on the company’s website, with replays accessible for 90 days.
AeroVironment, Inc. (NASDAQ: AVAV) announced it will release its first-quarter financial results for the period ending July 31, 2021, on September 8, 2021, after market close. A conference call to discuss these results will follow at 4:30 PM ET, featuring CEO Wahid Nawabi, CFO Kevin P. McDonnell, and Jonah Teeter-Balin, Senior Director of Corporate Development and Investor Relations. Investors can access the call via the company's website, and an audio replay will be available from September 8 to 15, 2021.
AeroVironment (NASDAQ: AVAV) appointed Cindy Lewis to its board of directors effective August 10, 2021. With over 30 years in the Aerospace and Defense industry, Lewis has led AirBorn Consolidated Holdings as CEO since 1998, transforming it into a mid-market electronics company. Concurrently, Arnold Fishman will retire from the board, marking the end of his tenure that began in 1998. CEO Wahid Nawabi expressed confidence in Lewis's ability to enhance AeroVironment's portfolio and growth strategy, particularly in technology commercialization and capital deployment.
AeroVironment, Inc. (NASDAQ: AVAV) announced the launch of standardized modular payload interface kits for its RQ-20B Puma tactical unmanned aircraft systems. This initiative, established by USSOCOM, aims to enhance integration of third-party payloads onto the RQ-20B Puma, allowing for faster deployment and reduced costs. The company received an initial order for these kits from USSOCOM, with deliveries expected by November 2021. AeroVironment's tactical UAS leads the DoD inventory, with a growing international customer base exceeding 50 allied governments.
AeroVironment (NASDAQ: AVAV), a leader in intelligent robotic systems, announced key presentations scheduled for the Jefferies Virtual Industrials Conference on August 3, 2021, at 10:30 a.m. PT and the Canaccord Genuity 41st Annual Growth Conference on August 11, 2021, at 10:30 a.m. PT. Presenting will be CEO Wahid Nawabi, CFO Kevin McDonnell, and Senior Director Jonah Teeter-Balin. Live audio webcasts of the presentations will be accessible on the company's website, with replays available for 90 days.
AeroVironment (NASDAQ: AVAV) has secured two firm-fixed-price orders worth $15,940,378 from the United States Air Force. The orders, received on April 19 and May 6, 2021, involve the procurement of Puma 3 AE unmanned aircraft systems and Raven UAS spare parts. The Puma 3 AE was delivered on April 30, 2021, while Raven spares are expected by November 2021. These systems are designed to enhance situational awareness for Air Force Security Forces during operations.
AeroVironment (NASDAQ: AVAV) announced the award of a $22 million task order from the U.S. Special Operations Command (USSOCOM) for ISR services using its JUMP® 20 unmanned aircraft system. This contract, effective from May 21, 2021, will last 12 months with options for extensions. The JUMP 20 offers extended operational capabilities, including SATCOM for beyond line of sight operations, and features runway independence, a range of 185 km, and a payload capacity of 30 pounds. This system's design aims to enhance operational efficiency for military applications.