Filing Flows › AeroVironment (AVAV) › Q1 FY27
AeroVironment (AVAV) Q1 FY27 earnings results (first quarter fiscal 2027)
10-Q filed Sep 10, 2026
AeroVironment (AVAV) reported revenue of $480M for the first quarter fiscal 2027 (Q1 FY27), +6% from a year earlier and -25% from the quarter before. Operating margin was -2.3%, net loss $5.1M (1.1% of revenue).
AeroVironment, Q1 FY27: revenue $480M (+6% year over year), operating margin -2.3%, net loss $5.1M, operating cash flow $13.5M. The chart follows the revenue to costs, profit and cash.
| Q1 FY27 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $480M | -25% | +6% |
| Operating profit | −$10.9M | -119% | — |
| Net earnings | −$5.1M | -108% | — |
| Operating cash flow | $13.5M | -86% | — |
What changed
Revenue was $480.5M in Q1 FY27, up 6% year over year and down 25% from the previous quarter. Precision Strike and Defense Systems was the largest line at 41% of revenue. Uncrewed Aircraft Systems added $50.0M year over year (up 71%), 194% of the total change. Space and Directed Energy declined 27%.
Gross margin was 25.9%, up 5.0 points from Q1 FY26. Operating costs exceeded revenue by $10.9M, an operating margin of -2.3%. Operating expenses fell 18% while revenue rose 6%. The quarter ended with a net loss of $5.1M, after a profit of $63.2M the previous quarter. Non-operating items added $5.4M, -99% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $13.5M. Non-cash charges added back $56.0M of depreciation and amortization and $4.9M of share-based compensation. Working capital and other items used $42.4M. Capital expenditures of $44.0M exceeded it, leaving free cash flow of −$30.5M.
Questions
What was AeroVironment's revenue in the first quarter fiscal 2027?
AeroVironment (AVAV) reported revenue of $480M for the first quarter fiscal 2027 (Q1 FY27), +6% from a year earlier and -25% from the quarter before.
Was AeroVironment profitable in the first quarter fiscal 2027?
Operating loss was $10.9M (-2.3% of revenue) and net loss $5.1M.
Source: AeroVironment 10-Q on SEC EDGAR.