Filing Flows › AeroVironment (AVAV) › Q3 FY26
AeroVironment (AVAV) Q3 FY26 earnings results (third quarter fiscal 2026)
10-Q filed Mar 11, 2026
AeroVironment (AVAV) reported revenue of $408M for the third quarter fiscal 2026 (Q3 FY26), +143% from a year earlier and -14% from the quarter before. Operating margin was -65.8%, net loss $244M (59.8% of revenue).
AeroVironment, Q3 FY26: revenue $408M (+143% year over year), operating margin -65.8%, net loss $244M, operating cash flow −$5.1M. The chart follows the revenue to costs, profit and cash.
| Q3 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $408M | -14% | +143% |
| Operating profit | −$268M | — | — |
| Net earnings | −$244M | — | — |
| Operating cash flow | −$5.1M | — | — |
What changed
Revenue was $408.0M in Q3 FY26, up 143% year over year and down 14% from the previous quarter. Precision Strike and Defense Systems was the largest line at 39% of revenue. Precision Strike and Defense Systems added $73.4M year over year (up 87%), 31% of the total change.
Gross margin was 24.2%, down 13.5 points from Q3 FY25. Operating costs exceeded revenue by $268.4M, an operating margin of -65.8%. Operating expenses grew 454% against revenue growth of 143%. The fastest-growing cost line was SG&A (+127%). The quarter ended with a net loss of $243.8M, wider than the previous quarter's $17.1M loss.
Operating cash flow was −$5.1M. Non-cash charges added back $54.6M of depreciation and amortization and $8.1M of share-based compensation. Working capital and other items added $176.0M. Capital expenditures of $12.6M exceeded it, leaving free cash flow of −$17.7M.
Questions
What was AeroVironment's revenue in the third quarter fiscal 2026?
AeroVironment (AVAV) reported revenue of $408M for the third quarter fiscal 2026 (Q3 FY26), +143% from a year earlier and -14% from the quarter before.
Was AeroVironment profitable in the third quarter fiscal 2026?
Operating loss was $268M (-65.8% of revenue) and net loss $244M.
Source: AeroVironment 10-Q on SEC EDGAR.