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Aerovironment Inc (AVAV) SEC Filing 8-K Material Event for the period ending Wednesday, September 8, 2021

Aerovironment Inc

CIK: 1368622 Ticker: AVAV

Exhibit 99.1

Graphic

AeroVironment, Inc. Announces Fiscal Year 2022 First Quarter Results

ARLINGTON, VA, September 8, 2021 — AeroVironment, Inc. (NASDAQ: AVAV), a global leader in intelligent, multi-domain robotic systems, today reported financial results for its first quarter ended July 31, 2021.

First quarter revenue of $101 million increased 16% year-over-year

Diluted loss per share of $0.57 and non-GAAP diluted loss per share of $0.17

Record funded backlog of $257.7 million

“We delivered results in-line with our previous guidance, while building a record backlog, including both organic and inorganic growth. Further, we continue to successfully integrate our three recently acquired businesses, which are key contributors to our future success,” said Wahid Nawabi, AeroVironment president and chief executive officer. “Our outstanding team continues to deliver on key milestones such as the recent launch of our next generation ground control station Crysalis. This new platform streamlines our customer’s small unmanned aircraft systems user experience while enabling next generation technologies and collaboration. We also deepened our customer relationships with key wins including our recent award by US Special Operations Command for SATCOM enabled beyond line of sight operations using Jump 20 medium unmanned aircraft systems.”

“As our results this quarter demonstrate, we remain well positioned to deliver long term shareholder value through our focus on key growth markets leveraging our future defining capabilities. We remain on track to meet our Fiscal Year 2022 objectives and deliver our fifth consecutive year of top-line, profitable growth.”

FISCAL 2022 FIRST QUARTER RESULTS

Revenue for the first quarter of fiscal 2022 was $101.0 million, an increase of 16% from the first quarter of fiscal 2021 revenue of $87.5 million. The increase in revenue was due to an increase in service revenue of $18.8 million, partially offset by a decrease in product sales of $5.2 million. The increase was due to revenue from our Medium Unmanned Aircraft Systems (“MUAS”) segment of $22.4 million and Unmanned Ground Vehicles of $4.6 million resulting from our recent acquisitions of Arcturus UAV and Telerob GmbH in February and May 2021, respectively. The remaining increase in revenue was primarily due to an increase in our Tactile Missile Systems (“TMS”) segment of $9.6 million, partially offset by a decrease in revenue in our Small Unmanned Aircraft Systems (“Small UAS”) segment of $16.3 million.

Gross margin for the first quarter of fiscal 2022 was $28.7 million, a decrease of 19% from the first quarter of fiscal 2021 gross margin of $35.4 million. The decrease in gross margin was primarily due to a decrease in product margin of $5.7 million and a decrease in service margin of $1.0 million. As a percentage of revenue, gross margin decreased to 28% from 40%. Gross margin was impacted by $4.0 million of intangible amortization expense and other related non-cash purchase accounting expenses in the first quarter of fiscal 2022 as compared to $0.6 million in the first quarter of fiscal 2021. Gross margin was also negatively impacted by our newly acquired businesses, which have lower margins than our historical core business as well as an unfavorable product mix.

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Loss from operations for the first quarter of fiscal 2022 was $12.1 million, an increase of $24.4 million from the first quarter of fiscal 2021 income from operations of $12.3 million. The increase in loss from operations was primarily a result of an increase in selling, general and administrative (“SG&A”) expense of $15.1 million, a decrease in gross margin of $6.7 million and an increase in research and development (“R&D”) expense of $2.6 million. SG&A expense included acquisition-related expenses and intangible amortization expense of $8.3 million in the first quarter of fiscal 2022 as compared to $38 thousand in the first quarter of fiscal 2021. SG&A expense for the first quarter of fiscal 2022 also included additional headcount and support costs associated with the acquisitions of Arcturus UAV, ISG and Telerob.

Other expense, net, for the first quarter of fiscal 2022 was $1.6 million, as compared to other income, net of $0.2 million for the first quarter of fiscal 2021. The increase in other expense, net was primarily due an increase in interest expense of $1.3 million resulting from the term debt issued concurrent with the acquisition of Arcturus UAV.

Benefit from income taxes for the first quarter of fiscal 2022 was $1.0 million, as compared to a provision for income taxes of $1.2 million for the first quarter of fiscal 2021. The increase in benefit from income taxes was primarily due to the decrease in income before income taxes and an increase in certain federal income tax credits.

Equity method investment loss, net of tax, for the first quarter of fiscal 2022 was loss of $1.1 million, as compared to loss of $1.3 million for the first quarter of fiscal 2021. The equity method loss was primarily associated with our investment in the HAPSMobile joint venture.

Net loss attributable to AeroVironment for the first quarter of fiscal 2022 was $14.0 million, as compared to net income attributable to AeroVironment of $10.1 million for the first quarter of fiscal 2021.

Loss per diluted share attributable to AeroVironment for the first quarter of fiscal 2022 was $0.57, as compared to earnings per diluted share attributable to AeroVironment of $0.42 for the first quarter of fiscal 2021.

Non-GAAP loss per diluted share was $0.17 for the first quarter of fiscal 2022, as compared to Non-GAAP earnings per diluted share $0.44 for the first quarter of fiscal 2021.

BACKLOG

As of July 31, 2021, funded backlog (remaining performance obligations under firm orders for which funding is currently appropriated to us under a customer contract) was $257.7 million, as compared to $211.8 million as of April 30, 2021.

FISCAL 2022 — OUTLOOK FOR THE FULL YEAR

For fiscal year 2022 the Company continues to expect revenue of between $560 million and $580 million, net income of between $29 million and $34 million, Non-GAAP adjusted EBITDA of between $105 million and $110 million, earnings per diluted share of between $1.15 and $1.35 and non-GAAP earnings per diluted share, which excludes acquisition-related expenses and amortization of intangible assets, of between $2.50 and $2.70.

The foregoing estimates are forward-looking and reflect management's view of current and future market conditions, subject to certain risks and uncertainties, and including certain assumptions with respect to our ability to efficiently and on a timely basis integrate our acquisitions, obtain and retain government contracts, changes in the timing and/or amount of government spending, changes in the demand for our products and services, activities of competitors, changes in the regulatory environment, and general economic and business conditions in the United States and elsewhere in the world. Investors are reminded that actual results may differ materially from these estimates.

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CONFERENCE CALL AND PRESENTATION

In conjunction with this release, AeroVironment, Inc. will host a conference call today, Wednesday, September 8, 2021, at 4:30 pm Eastern Time that will be webcast live. Wahid Nawabi, president and chief executive officer, Kevin P. McDonnell, chief financial officer and Jonah Teeter-Balin, senior director corporate development and investor relations, will host the call.

4:30 PM ET

3:30 PM CT

2:30 PM MT

1:30 PM PT

Investors may dial into the call by using the following telephone numbers, (877) 561-2749 (U.S.) or (678) 809-1029 (international) and providing the conference ID 9298599 five to ten minutes prior to the start time to allow for registration.

Investors with Internet access may listen to the live audio webcast via the Investor Relations page of the AeroVironment, Inc. website, http://investor.avinc.com. Please allow 15 minutes prior to the call to download and install any necessary audio software.

A supplementary investor presentation for the first quarter fiscal 2022 can be accessed at https://investor.avinc.com/events-and-presentations.

Audio Replay Options

An audio replay of the event will be archived on the Investor Relations page of the company's website, at http://investor.avinc.com. The audio replay will also be available via telephone from Wednesday, September 8, 2021, at approximately 7:30 p.m. Eastern Time through September 15, 2021, at 7:30 p.m. Eastern Time. Dial (855) 859-2056 (U.S.) or (404) 537-3406 (international) and provide the conference ID 9298599.

ABOUT AEROVIRONMENT, INC.

AeroVironment (NASDAQ: AVAV) provides technology solutions at the intersection of robotics, sensors, software analytics and connectivity that deliver more actionable intelligence so you can Proceed with Certainty. Headquartered in Virginia, AeroVironment is a global leader in intelligent, multi-domain robotic systems, and serves defense, government and commercial customers. For more information, visit www.avinc.com.

FORWARD-LOOKING STATEMENTS

This press release contains "forward-looking statements" as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include, without limitation, any statement that may predict, forecast, indicate or imply future results, performance or achievements, and may contain words such as “believe,” “anticipate,” “expect,” “estimate,” “intend,” “project,” “plan,” or words or phrases with similar meaning. Forward-looking statements are based on current expectations, forecasts and assumptions that involve risks and uncertainties, including, but not limited to, economic, competitive, governmental and technological factors outside of our control, that may cause our business, strategy or actual results to differ materially from the forward-looking statements.

Factors that could cause actual results to differ materially from the forward-looking statements include, but are not limited to, the impact of our recent acquisitions of Arcturus UAV, Telerob and ISG and our ability to successfully integrate them into our operations; the risk that disruptions will occur from the transactions that will harm our business; any disruptions or threatened disruptions to our relationships with our distributors, suppliers, customers and employees, including shortages in components for our products; the ability to timely and sufficiently integrate international operations into our ongoing business and compliance programs; reliance on sales to the U.S. government and related to our development of HAPS UAS; availability of U.S.

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government funding for defense procurement and R&D programs; changes in the timing and/or amount of government spending; our ability to perform under existing contracts and obtain new contracts; risks related to our international business, including compliance with export control laws; potential need for changes in our long-term strategy in response to future developments; the extensive regulatory requirements governing our contracts with the U.S. government and international customers; the consequences to our financial position, business and reputation that could result from failing to comply with such regulatory requirements; unexpected technical and marketing difficulties inherent in major research and product development efforts; the impact of potential security and cyber threats; changes in the supply and/or demand and/or prices for our products and services; the activities of competitors and increased competition; failure of the markets in which we operate to grow; uncertainty in the customer adoption rate of commercial use unmanned aircraft systems; failure to remain a market innovator, to create new market opportunities or to expand into new markets; changes in significant operating expenses, including components and raw materials; failure to develop new products or integrate new technology into current products; risk of litigation, including but not limited to pending litigation arising from the sale of our EES business; product liability, infringement and other claims; changes in the regulatory environment; the impact of the outbreak related to the strain of coronavirus known as COVID-19 on our business operations; and general economic and business conditions in the United States and elsewhere in the world. For a further list and description of such risks and uncertainties, see the reports we file with the Securities and Exchange Commission. We do not intend, and undertake no obligation, to update any forward-looking statements, whether as a result of new information, future events or otherwise.

NON-GAAP MEASURES

In addition to the financial measures prepared in accordance with generally accepted accounting principles (GAAP), this earnings release also contains non-GAAP financial measures. See in the financial tables below the calculation of these measures, the reasons why we believe these measures provide useful information to investors, and a reconciliation of these measures to the most directly comparable GAAP measures.

– Financial Tables Follow –

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AeroVironment, Inc.

Consolidated Statements of Operations

(In thousands except share and per share data)

Three Months Ended

 

July 31,

August 1,

 

2021

    

2020

 

Revenue:

Product sales

$

53,116

$

58,357

Contract services

 

47,893

 

29,093

 

101,009

 

87,450

Cost of sales:

Product sales

 

32,590

 

32,084

Contract services

 

39,696

 

19,955

 

72,286

 

52,039

Gross margin:

 

Product sales

20,526

26,273

Contract services

8,197

9,138

28,723

35,411

Selling, general and administrative

 

27,128

 

12,011

Research and development

 

13,708

 

11,103

(Loss) income from operations

 

(12,113)

 

12,297

Other (loss) income:

Interest (expense) income, net

 

(1,275)

 

208

Other (expense) income, net

 

(346)

 

33

(Loss) income before income taxes

 

(13,734)

 

12,538

(Benefit from) provision for income taxes

 

(957)

 

1,207

Equity method investment loss, net of tax

(1,141)

(1,288)

Net (loss) income

(13,918)

10,043

Net (income) loss attributable to noncontrolling interest

(63)

37

Net (loss) income attributable to AeroVironment, Inc.

$

(13,981)

$

10,080

Net (loss) income per share attributable to AeroVironment, Inc.

Basic

$

(0.57)

$

0.42

Diluted

$

(0.57)

$

0.42

Weighted-average shares outstanding:

Basic

 

24,620,180

 

23,893,001

Diluted

 

24,620,180

 

24,186,228

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AeroVironment, Inc.

Consolidated Balance Sheets

(In thousands except share data)

July 31,

    

April 30,

2021

2021

    

(Unaudited)

 

Assets

Current assets:

Cash and cash equivalents

$

93,924

$

148,741

Short-term investments

17,953

31,971

Accounts receivable, net of allowance for doubtful accounts of $579 at July 31, 2021 and $595 at April 30, 2021

 

45,764

 

62,647

Unbilled receivables and retentions

 

87,131

 

71,632

Inventories

 

84,852

 

71,646

Income taxes receivable

322

Prepaid expenses and other current assets

 

14,972

 

15,001

Total current assets

 

344,918

 

401,638

Long-term investments

10,165

12,156

Property and equipment, net

 

66,563

 

58,896

Operating lease right-of-use assets

27,649

22,902

Deferred income taxes

 

2,534

 

2,061

Intangibles, net

117,855

106,268

Goodwill

335,029

314,205

Other assets

 

3,840

 

10,440

Total assets

$

908,553

$

928,566

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$

18,046

$

24,841

Wages and related accruals

 

20,067

 

28,068

Customer advances

 

9,117

 

7,183

Current portion of long-term debt

10,000

10,000

Current operating lease liabilities

6,747

6,154

Income taxes payable

549

861

Other current liabilities

 

18,134

 

19,078

Total current liabilities

 

82,660

 

96,185

Long-term debt, net of current portion

185,141

187,512

Non-current operating lease liabilities

23,048

19,103

Other non-current liabilities

10,336

10,141

Liability for uncertain tax positions

 

3,518

 

3,518

Deferred income taxes

5,533

Commitments and contingencies

Stockholders’ equity:

Preferred stock, $0.0001 par value:

Authorized shares—10,000,000; none issued or outstanding at July 31, 2021 and April 30, 2021

 

 

Common stock, $0.0001 par value:

Authorized shares—100,000,000

Issued and outstanding shares—24,811,802 shares at July 31, 2021 and 24,777,295 shares at April 30, 2021

 

2

 

2

Additional paid-in capital

 

261,192

 

260,327

Accumulated other comprehensive (loss) income

 

(394)

 

343

Retained earnings

 

337,440

 

351,421

Total AeroVironment, Inc. stockholders’ equity

 

598,240

 

612,093

Noncontrolling interest

77

14

Total equity

598,317

612,107

Total liabilities and stockholders’ equity

$

908,553

$

928,566

6


AeroVironment, Inc.

Consolidated Statements of Cash Flows

(In thousands)

Three Months Ended

    

July 31,

    

August 1,

 

2021

2020

Operating activities

Net (loss) income

$

(13,918)

$

10,043

Adjustments to reconcile net (loss) income to cash provided by operating activities:

Depreciation and amortization

 

13,654

 

2,779

Losses from equity method investments, net

1,141

1,288

Amortization of debt issuance costs

129

Realized gain from sale of available-for-sale investments

(11)

Provision for doubtful accounts

 

(20)

 

(136)

Other non-cash expense

48

Non-cash lease expense

1,677

1,190

(Gain) loss on foreign currency transactions

 

19

 

1

Deferred income taxes

 

(472)

 

(339)

Stock-based compensation

 

1,922

 

1,595

Loss on sale of property and equipment

379

2

Amortization of debt securities

90

(43)

Changes in operating assets and liabilities, net of acquisitions:

Accounts receivable

 

17,914

 

30,439

Unbilled receivables and retentions

 

(14,684)

 

2,046

Inventories

 

(6,058)

 

5

Income taxes receivable

(326)

Prepaid expenses and other assets

 

481

 

324

Accounts payable

 

(7,997)

 

(7,338)

Other liabilities

(9,283)

(15,004)

Net cash (used in) provided by operating activities

 

(15,304)

 

26,841

Investing activities

Acquisition of property and equipment

 

(5,428)

 

(4,067)

Equity method investments

(2,692)

(1,173)

Business acquisitions, net of cash acquired

(46,150)

Redemptions of available-for-sale investments

 

17,925

 

41,727

Purchases of available-for-sale investments

(69,961)

Net cash used in investing activities

 

(36,345)

 

(33,474)

Financing activities

Principal payment of loan

(2,500)

Holdback and retention payments for business acquisition

(5,991)

Tax withholding payment related to net settlement of equity awards

(1,176)

(1,756)

Exercise of stock options

 

119

 

86

Other

(8)

Net cash used in financing activities

 

(9,556)

 

(1,670)

Effects of currency translation on cash and cash equivalents

(111)

Net decrease in cash, cash equivalents, and restricted cash

 

(61,316)

 

(8,303)

Cash, cash equivalents and restricted cash at beginning of period

 

157,063

 

255,142

Cash, cash equivalents and restricted cash at end of period

$

95,747

$

246,839

Supplemental disclosures of cash flow information

Cash paid, net during the period for:

Income taxes

$

$

10

Non-cash activities

Unrealized loss on available-for-sale investments, net of deferred tax benefit of $0 and $4 for the three months ended July 31, 2021 and August 1, 2020, respectively

$

4

$

52

Change in foreign currency translation adjustments

$

(733)

$

75

Issuances of inventory to property and equipment, ISR in-service assets

$

6,881

$

Acquisitions of property and equipment included in accounts payable

$

821

$

643

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AeroVironment, Inc.

Reportable Segment Results

(In thousands)

Three Months Ended July 31, 2021

    

Small UAS

    

TMS

    

MUAS

    

All other

    

Total

Revenue

$

39,924

$

19,176

$

22,379

$

19,530

$

101,009

Gross margin

16,920

5,989

3,181

2,633

28,723

Income (loss) from operations

1,958

(463)

(6,381)

(7,227)

(12,113)

Acquisition-related expenses

424

251

1,384

1,195

3,254

Amortization of acquired intangible assets and other purchase accounting adjustments

707

5,191

3,226

9,124

Adjusted income (loss) from operations

$

3,089

$

(212)

$

194

$

(2,806)

$

265

Three Months Ended August 1, 2020

    

Small UAS

    

TMS

    

MUAS

    

All other

    

Total

Revenue

$

56,202

$

9,534

$

$

21,714

$

87,450

Gross margin

27,483

1,920

6,008

35,411

Income (loss) from operations

15,197

(4,145)

1,245

12,297

Acquisition-related expenses

Amortization of acquired intangible assets and other purchase accounting adjustments

661

661

Adjusted income (loss) from operations

$

15,858

$

(4,145)

$

$

1,245

$

12,958

AeroVironment, Inc.

Reconciliation of non-GAAP Earnings per Diluted Share (Unaudited)

Three Months Ended

Three Months Ended

    

July 31, 2021

August 1, 2020

(Loss) earnings per diluted share

$

(0.57)

$

0.42

Acquisition-related expenses

0.11

Amortization of acquired intangible assets and other purchase accounting adjustments

0.29

0.02

(Loss) earnings per diluted share as adjusted (Non-GAAP)

$

(0.17)

$

0.44

Reconciliation of Forecast Earnings per Diluted Share (Unaudited)

Fiscal year ending

    

April 30, 2022

Forecast earnings per diluted share

$

1.15 - 1.35

Acquisition-related expenses

0.17

Amortization of acquired intangible assets and other purchase accounting adjustments

1.18

Forecast earnings per diluted share as adjusted (Non-GAAP)

$

2.50 - 2.70

8


Reconciliation of Fiscal Year 2021 Actual and 2022 Forecast Non-GAAP adjusted EBITDA (Unaudited)

Fiscal year ending

Fiscal year ending

(in millions)

April 30, 2022

April 30, 2021

Net income

$

29 - 34

$

23

Interest expense, net

5

1

Provision for income taxes

1

1

Depreciation and amortization

65

19

EBITDA (Non-GAAP)

100 - 105

44

HAPSMobile Inc. JV impairment of investment in Loon LLC

10

Legal accrual related to our former EES business

9

Acquisition-related expenses

5

9

Adjusted EBITDA (Non-GAAP)

$

105 - 110

$

72

9


Statement Regarding Non-GAAP Measures

The non-GAAP measures set forth above should be considered in addition to, and not as a replacement for or superior to, the comparable GAAP measures, and may not be comparable to similarly titled measures reported by other companies. Management believes that these measures provide useful information to investors by offering additional ways of viewing our results that, when reconciled to the corresponding GAAP measures, help our investors to understand the long-term profitability trends of our business and compare our profitability to prior and future periods and to our peers. In addition, management uses these non-GAAP measures to evaluate our operating and financial performance.

Non-GAAP Adjusted Operating Income

Adjusted operating income is defined as operating income before intangible amortization, amortization of non-cash purchase accounting adjustments, and acquisition related expenses.

Non-GAAP Earnings per Diluted Share

We exclude the acquisition-related expenses, amortization of acquisition-related intangible assets and one-time non-operating items because we believe this facilitates more consistent comparisons of operating results over time between our newly acquired and existing businesses, and with our peer companies. We believe, however, that it is important for investors to understand that such intangible assets contribute to revenue generation and that intangible asset amortization will recur in future periods until such intangible assets have been fully amortized.

Adjusted EBITDA (Non-GAAP)

Adjusted EBITDA is defined as net income before interest income, interest expense, income tax expense (benefit) and depreciation and amortization including amortization of purchase accounting adjustments, adjusted for the impact of certain other items, including acquisition related expenses, equity method investment gains or losses, and one-time non-operating gains or losses. We present Adjusted EBITDA, which is not a recognized financial measure under U.S. GAAP, because we believe it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. We believe this facilitates more consistent comparisons of operating results over time between our newly acquired and existing businesses, and with our peer companies. We believe, however, that it is important for investors to understand that such intangible assets contribute to revenue generation, intangible asset amortization will recur in future periods until such intangible assets have been fully amortized and that interest and income tax expenses will recur in future periods. In addition, Adjusted EBITDA may not be comparable to similarly titled measures used by other companies in our industry or across different industries.

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CONTACT

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https://investor.avinc.com/contact-us

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0001368622false00013686222021-09-082021-09-08

 

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

 

Date of Report (Date of earliest event reported): September 8, 2021

 

AEROVIRONMENT, INC.

(Exact name of registrant as specified in its charter)

 

Delaware

 

001-33261

 

95-2705790

(State or other jurisdiction of

 

(Commission File Number)

 

(I.R.S. Employer Identification No.)

incorporation or organization)

 

 

 

 

241 18th Street South, Suite 415

 

 

Arlington, Virginia

 

22202

(Address of Principal Executive Offices)

 

(Zip Code)

 

Registrant’s telephone number, including area code: (805) 520-8350

 Securities registered pursuant to Section 12(b) of the Act:

Title of each class

Trading Symbol(s)

Name of each exchange on which registered

Common Stock, par value $0.0001 per share

AVAV

The NASDAQ Stock Market LLC

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

   Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

    Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

    Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

    Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

 

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.   

Item 2.02.  Results of Operations and Financial Condition

 

On September 8, 2021, AeroVironment, Inc. (the “Company”) issued a press release announcing first quarter financial results for the period ended July 31, 2021, a copy of which is attached hereto as Exhibit 99.1.

Item 7.01 Regulation FD Disclosure

The information under Item 2.02 above is incorporated herein by reference.

Attached as Exhibit 99.2 hereto is a presentation containing additional information regarding the Company’s first quarter fiscal 2021 financial results for the period ended July 31, 2021. A copy of the presentation is also available on the investor relations section of the Company’s website at https://investor.avinc.com/events-and-presentations. The information contained on the Company’s website is not incorporated by reference into, and does not form a part of, this Current Report on Form 8-K.

 

In addition to historic information, this report, including the exhibits, contains forward-looking statements regarding events, performance and financial trends. Various factors could affect future results and could cause actual results to differ materially from those expressed in or implied by the forward-looking statements. Some of those factors are identified in the exhibits, and in our periodic reports filed with the Securities and Exchange Commission.

The information in this Current Report on Form 8-K, including the exhibits, is furnished pursuant to Items 2.02 and 7.01 and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing of AeroVironment, Inc. under the Securities Act of 1933, as amended, or the Exchange Act, whether made before or after the date hereof, except as shall be expressly set forth by specific reference in such filing.

 

Item 9.01.  Financial Statements and Exhibits

 

(d)  Exhibits.

 

Exhibit

 

 

Number

 

Description

99.1

 

Press release issued by AeroVironment, Inc., dated September 8, 2021.

99.2

Presentation regarding AeroVironment, Inc.’s first quarter fiscal 2021 financial results dated September 8, 2021.

104

Cover Page Interactive Data File (embedded within the Inline XBRL document).

2

SIGNATURE

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

 

 

 

AEROVIRONMENT, INC.

 

 

 

 

 

 

Date: September 8, 2021

By:

/s/ Wahid Nawabi

 

 

Wahid Nawabi

 

 

President and Chief Executive Officer

3

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Aerovironment Inc provided additional information to their SEC Filing as exhibits

Ticker: AVAV
CIK: 1368622
Form Type: 8-K Corporate News
Accession Number: 0001558370-21-012310
Submitted to the SEC: Wed Sep 08 2021 4:17:01 PM EST
Accepted by the SEC: Wed Sep 08 2021
Period: Wednesday, September 8, 2021
Industry: Aircraft
Events:
  1. Earnings Release
  2. Financial Exhibit
  3. Regulated Disclosure

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