Filing Flows › AeroVironment (AVAV) › Q4 FY26 › vs Q3 FY26
AeroVironment (AVAV) Q4 FY26 vs Q3 FY26 (quarter over quarter)
AeroVironment's revenue rose $234M (+57%) from $408M in Q3 FY26 to $642M in Q4 FY26. The biggest changes: Precision Strike and Defense Systems +$175M (+111%); Uncrewed Aircraft Systems +$30.9M (+34%); Space and Directed Energy +$20.3M (+38%). Gross margin 31.6% against 24.2% (+7.4 pts).
AeroVironment, Q4 FY26: revenue $642M (+133% year over year), operating margin 8.9%, net earnings $63.2M, operating cash flow $95.5M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Gross margin | 31.6% | 24.2% | +7.4 pts |
| Operating margin | 8.9% | -65.8% | +74.7 pts |
| Net margin | 9.8% | -59.8% | +69.6 pts |
| Free cash flow margin | 12.3% | -4.3% | +16.7 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Precision Strike and Defense Systems | $333M | $158M | $175M | +111% |
| Uncrewed Aircraft Systems | $121M | $89.8M | $30.9M | +34% |
| Cyber and Mission Solutions | $75.6M | $76.1M | −$454K | -0.6% |
| Space and Directed Energy | $73.5M | $53.2M | $20.3M | +38% |
| Other | $38.3M | $30.7M | $7.6M | +25% |
| Revenue | $642M | $408M | $234M | +57% |
| Gross profit | $203M | $98.8M | $104M | +105% |
| Cost of revenue | $439M | $309M | $130M | +42% |
| Other income, net | $22.3M | $3.3M | $19.0M | +575% |
| Operating profit | $56.9M | −$268M | $325M | — |
| Operating expenses | $146M | $367M | −$222M | -60% |
| Pre-tax earnings | $79.2M | −$265M | $344M | — |
| Research & development | $31.5M | $27.1M | $4.3M | +16% |
| SG&A | $114M | $99.4M | $14.8M | +15% |
| Net earnings | $63.2M | −$244M | $307M | — |
| Income tax | $16.0M | −$21.6M | $37.6M | — |
| Depreciation & amortization | $62.1M | $54.6M | $7.4M | +14% |
| Share-based compensation | $10.3M | $8.1M | $2.2M | +27% |
| Working capital & other | $40.0M | −$176M | $216M | — |
| Operating cash flow | $95.5M | −$5.1M | $101M | — |
| Free cash flow (OCF − capex) | $79.1M | −$17.7M | $96.8M | — |
| Capital expenditures | $16.4M | $12.6M | $3.8M | +30% |
Questions
How much did AeroVironment's revenue grow quarter over quarter in Q4 FY26?
AeroVironment's revenue rose $234M (+57%) from $408M in Q3 FY26 to $642M in Q4 FY26.
What drove AeroVironment's revenue change in Q4 FY26?
Precision Strike and Defense Systems +$175M (+111%); Uncrewed Aircraft Systems +$30.9M (+34%); Space and Directed Energy +$20.3M (+38%).