Business UpdateJun 29, 2026, 05:07 PM
AeroVironment Backlog Jumps to $1.18B Funded, $1.46B Unfunded
AI Summary
AeroVironment reported a significant increase in its funded backlog to $1.18 billion and unfunded backlog to $1.46 billion as of April 30, 2026. This growth was partly driven by the acquisition of BlueHalo Financing Topco, LLC, effective May 1, 2025, which also led to a restructuring into two new reportable segments: Autonomous Systems (AxS) and Space, Cyber and Directed Energy (SCDE). The company expects to recognize approximately 85% of its funded backlog as revenue in fiscal year 2027, emphasizing its strategy as a defense technology provider focused on innovative multi-domain solutions.
Key Highlights
- Funded backlog increased to $1.18 billion as of April 30, 2026, from $726.6 million in 2025.
- Unfunded backlog rose to $1.46 billion as of April 30, 2026, from $774.6 million in 2025.
- Acquisition of BlueHalo Financing Topco, LLC, effective May 1, 2025.
- Business restructured into Autonomous Systems (AxS) and Space, Cyber and Directed Energy (SCDE) segments.
- Approximately 85% of funded backlog expected as revenue in fiscal year 2027.
- U.S. Army accounted for ~25% of fiscal year 2026 revenue.
- Other U.S. government agencies and subcontractors accounted for 47% of fiscal year 2026 revenue.
- Foreign customers accounted for 28% of fiscal year 2026 sales revenue.
Price Impact
More from AVAV