AeroVironment delivered record second-quarter revenue of $188.5 million, up 4% year-over-year, driven by strong performance in its Loitering Munition Systems segment which posted record quarterly revenue of $77.7 million. Net income was $7.5 million or $0.27 per diluted share, while adjusted EBITDA reached $25.9 million.The company maintained a robust backlog position with funded backlog of $467.1 million and unfunded backlog of $1.8 billion. Gross margin was 39%, reflecting product mix shifts and higher operating expenses in R&D and marketing. The Loitering Munition Systems segment continued to lead growth with a 157% revenue increase.Management reaffirmed fiscal year 2025 guidance, projecting revenue of $790-820 million, adjusted EBITDA of $143-153 million, and non-GAAP EPS of $3.18-3.49. The company expects Q3 FY25 adjusted EBITDA to decrease sequentially from Q2, followed by significantly higher performance in Q4. These projections exclude potential impacts from the pending BlueHalo acquisition.

AeroVironment delivered record second-quarter revenue of $188.5 million, up 4% year-over-year, driven by strong performance in its Loitering Munition Systems segment which posted record quarterly revenue of $77.7 million. Net income was $7.5 million or $0.27 per diluted share, while adjusted EBITDA reached $25.9 million.The company maintained a robust backlog position with funded backlog of $467.1 million and unfunded backlog of $1.8 billion. Gross margin was 39%, reflecting product mix shifts and higher operating expenses in R&D and marketing. The Loitering Munition Systems segment continued to lead growth with a 157% revenue increase.Management reaffirmed fiscal year 2025 guidance, projecting revenue of $790-820 million, adjusted EBITDA of $143-153 million, and non-GAAP EPS of $3.18-3.49. The company expects Q3 FY25 adjusted EBITDA to decrease sequentially from Q2, followed by significantly higher performance in Q4. These projections exclude potential impacts from the pending BlueHalo acquisition.