AeroVironment (AVAV) Earnings: Q1 Fiscal 2027 Results and Next Report Date

The quarter ended August 1, 2026 and AeroVironment published the results on September 9, 2026. Revenue and diluted EPS are shown against Q1 fiscal 2026, the same quarter a year earlier, which takes seasonal swings out of the comparison. AeroVironment reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• AeroVironment's fiscal year ends April 30. Q1 fiscal 2027 is the quarter ended August 1, 2026, and the year-ago quarter ended August 2, 2025.
• AeroVironment acquired BlueHalo in fiscal 2026. Its GAAP results carry intangible amortization and other non-cash purchase accounting expenses from that deal, $43.4 million in Q1 fiscal 2027, which non-GAAP EPS excludes.

Source: AeroVironment Q1 fiscal 2027 results, September 9, 2026. Also in the Form 10-Q for the quarter ended August 1, 2026. Figures as reported; checked against the release on November 10, 2026.

How AeroVironment splits revenue in its own release, under its own labels, for Q1 fiscal 2027 against Q1 fiscal 2026. Indented lines are parts of the line above them.

• AeroVironment's Autonomous Systems (AxS) revenue was $346 million in Q1 fiscal 2027, up 21% from $285 million in Q1 fiscal 2026, 72% of total revenue.
• AeroVironment's Space, Cyber and Directed Energy (SCDE) revenue was $135 million in Q1 fiscal 2027, down 21% from $169 million in Q1 fiscal 2026, 28% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

In its Q1 fiscal 2027 release, AeroVironment said:

“For fiscal year 2027, the Company continues to expect revenue of between $2.125 billion and $2.225 billion, net income of between $10 million and $27 million, non-GAAP adjusted EBITDA of between $305 million and $325 million, earnings per diluted share of between $0.21 and $0.53 and non-GAAP earnings per diluted share, which excludes amortization of intangible assets and other non-cash purchase accounting expenses, of between $3.02 and $3.34.”

Source: AeroVironment Q1 fiscal 2027 release, Sep 9, 2026.

This is the company's own guidance as of Sep 9, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the AVAV forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

Revenue and diluted EPS, each as first reported in that quarter's release.

AeroVironment's next report is expected around December 2, 2026, a date estimated from its reporting history that the company has not yet confirmed. This page will show Q1 fiscal 2027 until those results are out and have been checked against the release.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q1 fiscal 2027 (this page), reported Sep 9, 2026

AeroVironment reported record first-quarter revenue of $480.5 million in Q1 fiscal 2027, up 6% from $454.7 million, with product sales up $15.5 million and service revenue up $10.3 million. Product sales were $329.1 million and contract services $151.4 million. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026)

Autonomous Systems (AxS), which covers drones, loitering munitions and other robotic systems across air, land and sea, grew 21% to $346.0 million. UAS product revenue rose $39.1 million on global demand, and the ESAero acquisition added $41.8 million, but Switchblade product revenue fell $56.9 million, which AeroVironment attributed to order delays. Customer-funded R&D services added $34.1 million. (AeroVironment Form 10-Q, Q1 fiscal 2027, Sep 10, 2026)

Space, Cyber and Directed Energy (SCDE) revenue fell 21% to $134.5 million. Space and Directed Energy product sales dropped $18.1 million, mainly because the SCAR program was terminated in the prior year, and Cyber and Mission Solutions service revenue fell $18.3 million on reduced scope on certain contracts. (AeroVironment Form 10-Q, Q1 fiscal 2027, Sep 10, 2026)

By operating group, Precision Strike and Defense Systems brought in $197.1 million, Uncrewed Aircraft Systems $120.2 million, Cyber and Mission Solutions $83.0 million and Space and Directed Energy $51.5 million. Sales to the U.S. government were $386.8 million of the total and to other customers $93.7 million, up from $59.3 million. Firm fixed-price contracts made up $349.4 million of revenue. (AeroVironment Form 10-Q, Q1 fiscal 2027, Sep 10, 2026)

AeroVironment booked $0.7 billion of orders in the quarter, a book-to-bill ratio of 1.4. Funded backlog reached a record $1,457.8 million at August 1, 2026, up from $1,183.0 million at April 30, 2026, and AeroVironment also reported unfunded backlog of $1,366.5 million. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026; AeroVironment Form 10-Q, Q1 fiscal 2027, Sep 10, 2026)

AeroVironment reported a GAAP net loss of $(0.10) per diluted share, against $(1.44) a year earlier, and non-GAAP EPS of $0.59, against $0.32. Non-GAAP EPS adds back $0.69 per share of amortization of acquired intangible assets and other purchase accounting adjustments and $0.04 of acquisition-related expenses, and removes $0.04 of equity investment gains. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026)

Intangible amortization and other non-cash purchase accounting expenses fell to $43.4 million from $79.7 million, and acquisition-related expenses fell by $22.5 million, which narrowed the loss from operations to $(10.9) million from $(69.3) million. Interest swung to $4.1 million of net income from $17.4 million of expense after AeroVironment repaid the BlueHalo acquisition loans with convertible notes and equity issued in July 2025. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026)

That equity raise lifted weighted-average diluted shares to 49,822,595 from 46,882,350. The income tax benefit of $(397,000) gave an effective tax rate of 5.4%, against 18.0% a year earlier. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026; AeroVironment Form 10-Q, Q1 fiscal 2027, Sep 10, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

AeroVironment gives full-year guidance in its release and kept it unchanged in Q1 fiscal 2027: revenue of $2.125 billion to $2.225 billion, net income of $10 million to $27 million, non-GAAP adjusted EBITDA of $305 million to $325 million, GAAP EPS of $0.21 to $0.53 and non-GAAP EPS of $3.02 to $3.34. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026)

AeroVironment's reconciliation puts the gap between the two EPS ranges mostly at $2.70 per share of forecast amortization of acquired intangible assets and other purchase accounting adjustments for fiscal 2027. (AeroVironment Q1 fiscal 2027 release, Sep 9, 2026)

A consensus figure is the average of the models published by the analysts who cover AeroVironment, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones AeroVironment's own release and filings put weight on for Q1 fiscal 2027, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning AVAV is on is AVAV a buy or a sell?, what analysts expect next is on the AVAV forecast, and what the company does is on the AeroVironment (AVAV) stock page.

Every number on this page can be traced to a document AeroVironment published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.