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The revenue growth reflects higher product sales of $67.6M, partially offset by lower service revenue of $14.1M. The company posted a record funded backlog of $424.1M as of April 30, 2023.
“With our record setting revenue and backlog, we are well positioned for another strong growth year in Fiscal 2024. Even though AeroVironment was not selected to proceed further with increment 2 of FTUAS, AeroVironment has never been in better shape with regards to its future than it is today,” said CEO Wahid Nawabi.
For the full 2024 year, the company expects EPS in the range of $2.30-$2.60, compared to the consensus of $2.04, and revenue of $630-$660M, compared to the consensus of $600M.
