AeroVironment Q2 2024 Update: Assets Top $2.8B

Ticker: AVAV · Form: 10-Q · Filed: Dec 5, 2024

Sentiment: neutral

Topics: 10-Q, financials, balance-sheet

TL;DR

AVAV Q2: Assets $2.82B, Liabilities $28.13M. Solid balance sheet.

AI Summary

AeroVironment Inc. filed its 10-Q for the period ending October 26, 2024. The company reported total assets of $2.82 billion and total liabilities of $28.13 million for the six months ended October 26, 2024. Key financial figures include retained earnings and additional paid-in capital as of various dates throughout 2023 and 2024.

Why It Matters

This filing provides a snapshot of AeroVironment's financial health, including its asset base and equity, which are crucial for investors assessing the company's stability and growth potential.

Risk Assessment

Risk Level: low — The filing is a routine quarterly report and does not contain immediate red flags or significant negative developments.

Key Numbers

Key Players & Entities

FAQ

What were AeroVironment's total assets as of October 26, 2024?

AeroVironment's total assets were $2,820,523,700 as of October 26, 2024.

What were AeroVironment's total liabilities as of October 26, 2024?

AeroVironment's total liabilities were $28,134,438 as of October 26, 2024.

What is the fiscal year end for AeroVironment Inc.?

AeroVironment Inc.'s fiscal year ends on April 30.

What was the retained earnings amount as of April 30, 2024?

The retained earnings as of April 30, 2024, were $282,052,370.

What was the additional paid-in capital as of October 28, 2023?

The additional paid-in capital as of October 28, 2023, was $281,344,380.

Filing Stats: 4,393 words · 18 min read · ~15 pages · Grade level 17.1 · Accepted 2024-12-04 18:08:52

Key Financial Figures

Filing Documents

Financial Statements

Financial Statements : Condensed Consolidated Balance Sheets as of October 26, 2024 (Unaudited) and April 30, 2024 3 Condensed Consolidated Statements of Operations for the three and six months ended October 26, 2024 (Unaudited) and October 28, 2023 (Unaudited) 4 Condensed Consolidated Statements of Comprehensive Income for the three and six months ended October 26, 2024 (Unaudited) and October 28, 2023 (Unaudited) 5 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended October 26, 2024 (Unaudited) and October 28, 2023 (Unaudited) 6 Condensed Consolidated Statements of Cash Flows for the six months ended October 26, 2024 (Unaudited) and October 28, 2023 (Unaudited) 8 Notes to Condensed Consolidated Financial Statements (Unaudited) 9 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 33 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 47 Item 4.

Controls and Procedures

Controls and Procedures 47

OTHER INFORMATION

PART II. OTHER INFORMATION Item 1.

Legal Proceedings

Legal Proceedings 48 Item 1A.

Risk Factors

Risk Factors 48 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 57 Item 3. Defaults Upon Senior Securities 57 Item 4. Mine Safety Disclosures 57 Item 5. Other Information 57 Item 6. Exhibits 59

Signatures

Signatures 60 2 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS AeroVironment, Inc. Condensed Consolidated Balance Sheet s (In thousands except share and per share data) October 26, April 30, 2024 2024 (Unaudited) Assets Current assets: Cash and cash equivalents $ 68,960 $ 73,301 Accounts receivable, net of allowance for doubtful accounts of $ 92 at October 26, 2024 and $ 159 at April 30, 2024 73,935 70,305 Unbilled receivables and retentions 204,180 199,474 Inventories, net 139,698 150,168 Income taxes receivable 9,628 — Prepaid expenses and other current assets 18,444 22,333 Total current assets 514,845 515,581 Long-term investments 22,942 20,960 Property and equipment, net 49,681 46,602 Operating lease right-of-use assets 32,502 30,033 Deferred income taxes 41,303 41,303 Intangibles, net 62,703 72,224 Goodwill 275,827 275,652 Other assets 19,282 13,505 Total assets $ 1,019,085 $ 1,015,860 Liabilities and stockholders' equity Current liabilities: Accounts payable $ 40,646 $ 48,298 Wages and related accruals 31,594 44,312 Customer advances 10,640 11,192 Current portion of long-term debt — 10,000 Current operating lease liabilities 9,591 9,841 Income taxes payable 28 4,162 Other current liabilities 19,112 17,074 Total current liabilities 111,611 144,879 Long-term debt, net of current portion 15,000 17,092 Non-current operating lease liabilities 25,690 22,745 Other non-current liabilities 2,114 2,132 Liability for uncertain tax positions 5,603 5,603 Deferred income taxes 670 664 Commitments and contingencies Stockholders' equity: Preferred stock, $ 0.0001 par value: Authorized shares— 10,000,000 ; none issued or outstanding at October 26, 2024 and April 30, 2024 — — Common stock, $ 0.0001 par value: Authorized shares— 100,000,000 Issued and outstanding shares— 28,205,237 shares at October 26, 2024 and 28,134,438 shares at Apr

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