Filing Flows › AeroVironment (AVAV) › Q1 FY26
AeroVironment (AVAV) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Sep 10, 2025
AeroVironment (AVAV) reported revenue of $455M for the first quarter fiscal 2026 (Q1 FY26), +140% from a year earlier and +65% from the quarter before. Operating margin was -15.2%, net loss $67.4M (14.8% of revenue).
AeroVironment, Q1 FY26: revenue $455M (+140% year over year), operating margin -15.2%, net loss $67.4M, operating cash flow −$124M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $455M | +65% | +140% |
| Operating profit | −$69.3M | -601% | — |
| Net earnings | −$67.4M | -504% | — |
| Operating cash flow | −$124M | — | — |
What changed
Revenue was $454.7M in Q1 FY26, up 140% year over year and up 65% from the previous quarter. AxS was the largest line at 63% of revenue. AxS added $95.8M year over year (up 51%), 36% of the total change.
Gross margin was 20.9%, down 22.1 points from a year earlier. Operating costs exceeded revenue by $69.3M, an operating margin of -15.2%. Operating expenses grew 181% against revenue growth of 140%. The fastest-growing cost line was SG&A (+288%). The quarter ended with a net loss of $67.4M, after a profit of $16.7M the previous quarter.
Operating cash flow was −$123.7M. Non-cash charges added back $90.3M of depreciation and amortization and $11.4M of share-based compensation. Working capital and other items used $158.0M. Capital expenditures of $22.7M exceeded it, leaving free cash flow of −$146.5M.
Questions
What was AeroVironment's revenue in the first quarter fiscal 2026?
AeroVironment (AVAV) reported revenue of $455M for the first quarter fiscal 2026 (Q1 FY26), +140% from a year earlier and +65% from the quarter before.
Was AeroVironment profitable in the first quarter fiscal 2026?
Operating loss was $69.3M (-15.2% of revenue) and net loss $67.4M.
Source: AeroVironment 10-Q on SEC EDGAR.