What is Aerovironment's latest dividend and current dividend yield?

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What were the key takeaways from Aerovironment’s earnings call?

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What guidance did Aerovironment's management provide for the next earnings period?

What were the key takeaways from Aerovironment's earnings call?

What is the revenue and EPS growth rate for Aerovironment year over year?

What factors drove the changes in Aerovironment's revenue and profit?

- **Revenue Growth**: Q1 FY26 revenue of $454.7M (+140% YoY) driven by BlueHalo integration and SCDE segment expansion. 82% visibility to FY26 guidance midpoint of $1.95B.
- **Strategic Contracts**: $240M space laser communication deal, $95M FE-1 missile contract, and $70M BADGER satellite ground station order highlight new program wins.
- **Profitability Targets**: Adjusted EBITDA of $56.6M (12.4% of revenue) with FY26 target of 16%. Gross margin expected to improve to mid-30s by Q4.
- **Export Momentum**: SCDE segment's directed energy and RF solutions seeing strong international adoption. P550 UAS poised for global franchise success.
- **Risks**: U.S. DoD budget delays could impact unfunded backlog conversion, but $68M OBD allocation to Switchblade variants is already included in guidance.

**【CEO Summary Section】**
- **Record Q1 Revenue**: $454.7 million, up 140% YoY (18% pro forma growth). Bookings reached $400 million, with funded backlog of $1.1 billion and unfunded backlog of $3.1 billion.
- **BlueHalo Integration Success**: Acquired BlueHalo in May 2025, driving growth in Space, Cyber, and Directed Energy (SCDE) segment. New contracts include $240 million for space laser communication systems and $95 million for FE-1 missile development.
- **Key Program Wins**: 
  - $240M space laser communication contract with 3.5-year delivery period.
  - $95M FE-1 missile contract for U.S. Army.
  - AMP-HEL program deliveries of LOCUST laser systems on JLTVs.
  - P550 UAS adoption in U.S. Army's LRR program with $1B+ potential over 5 years.
- **Strategic Initiatives**: 
  - AV Halo software platform launched, integrating AI-powered tools for mission command, synthetic training, and autonomous targeting.
  - Expanded partnerships with Denmark and Dutch Ministry of Defense for UAS training and fleet modernization.
  - Golden Dome initiative with Sierra Nevada Corporation for missile defense solutions.
- **Growth Outlook**: Maintaining FY26 revenue guidance of $1.9-2.0 billion, with 82% visibility to midpoint. Expecting significant unfunded backlog conversion in Q2-Q3.

**【CFO Financial Commentary】**
- **Revenue Performance**: 
  - Autonomous Systems (AxS): $285M (22% pro forma growth), driven by Switchblade 600 (200% growth), JUMP 20 (6x growth), and Counter-UAS RF (near-doubling).
  - SCDE Segment: $169M (12% pro forma growth), led by BADGER satellite ground stations ($70M new order) and LOCUST directed energy systems (5x growth).
- **Financial Metrics**: 
  - Adjusted EBITDA: $56.6M (12.4% of revenue), targeting 16% for FY26.
  - Gross Margin: 21% GAAP, 29% adjusted (mid-30s expected by Q4).
  - Operating Expenses: $131.3M GAAP, $65.2M adjusted (14.3% of revenue, targeting 11-13% for FY26).
- **Liquidity**: $722M cash and investments post-$1.7B equity/debt raise, used to pay down BlueHalo acquisition debt and support growth.
- **Guidance**: 
  - FY26 revenue: $1.9-2.0B.
  - Adjusted EBITDA: $300-320M.
  - Non-GAAP EPS: $3.60-3.70.

**【Q&A Highlights】**
- **Competitive Position**: CEO emphasizes AV's leadership in directed energy (LOCUST), space laser communication, and low-cost UAS solutions. Switchblade 600 pricing remains competitive at ~$100K/unit.
- **Export Growth**: SCDE segment's BADGER, LOCUST, and Titan RF solutions seeing strong international demand. P550 UAS expected to replicate Puma's global franchise success.
- **Funding Risks**: FY26 guidance assumes 82% visibility to midpoint. Potential delays in U.S. DoD budget resolution could impact unfunded backlog conversion, but ~$68M in FY26 OBD allocated to launch effects (Switchblade variants) is already baked into guidance.
- **Golden Dome Opportunity**: AV's phased array and laser communication solutions positioned to address homeland missile defense needs, with potential for rapid deployment in 2025.
- **Cash Flow Management**: CFO targets mid-30s adjusted gross margin by Q4 and 11-13% SG&A as % of revenue through cost synergies.


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