Aerovironment Inc (AVAV) 10-Q Quarterly Report March 2023

Document and Entity Information - shares	9 Months Ended
Document and Entity Information - shares	Jan. 28, 2023	Mar. 01, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jan. 28, 2023
Document Transition Report	false
Entity File Number	001-33261
Entity Registrant Name	AEROVIRONMENT, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	95-2705790
Entity Address, Address Line One	241 18th Street South, Suite 415
Entity Address, City or Town	Arlington
Entity Address, State or Province	VA
Entity Address, Postal Zip Code	22202
City Area Code	805
Local Phone Number	520-8350
Title of 12(b) Security	Common Stock, par value $0.0001 per share
Trading Symbol	AVAV
Security Exchange Name	NASDAQ
Entity Interactive Data Current	Yes
Entity Current Reporting Status	Yes
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		25,264,025
Entity Central Index Key	0001368622
Current Fiscal Year End Date	--04-30
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3
Amendment Flag	false

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Inside Aerovironment Inc's 10-Q Quarterly Report:

Financial - Earnings Highlight
The increase in product margin was primarily due to the increase in product sales and a favorable product mix.

Financial - Earnings Highlight
The increase in product margin was primarily due to the increase in product sales combined with a favorable product mix.
Other - Other Highlight
If actual market conditions are less favorable than those projected by the industry or by us, or if events occur or circumstances change that would reduce the estimated fair value of our indefinite-lived intangible assets below the carrying amounts, we could recognize future impairment charges, the amount of which could be material.
Legal - Other Highlight
Events or circumstances that could trigger an impairment review include, but are not limited to, a significant adverse change in legal factors or in the business or political climate, an adverse action or assessment by a regulator, unanticipated competition, a loss of key personnel, significant changes in the manner of our use of the acquired assets or the strategy for our overall business, significant negative industry or economic trends or significant underperformance relative to projected future results of operations.
Revenue - Product Highlight
Adjustments to original estimates for a contract's revenue, estimated costs at completion and estimated profit or loss are often required as work progresses under a contract, as experience is gained and as more information is obtained, even though the scope of work required under the contract may not change, or if contract modifications, including the finalization of undefinitized contract actions, occur.
Financial - Expense
Contract costs include labor, materials,...Read more
Revenue - Product
Contract services revenue is composed...Read more
Financial - Earnings
The increase in gross margin...Read more
Financial - Earnings
Gross margin for the nine...Read more
Financial - Earnings
Gross margin for the three...Read more
Other - Other
The Term Loan Facility requires...Read more
Revenue - Product
For performance obligations satisfied over...Read more
Other - Other
Net cash provided by operating...Read more
Financial - Shares
On September 8, 2022 we...Read more
Other - Other
Net cash provided by investing...Read more
Revenue - Product
For the three months ended...Read more
Revenue - Product
For the nine months ended...Read more
Financial - Income
Our effective income tax rate...Read more
Financial - Income
Our effective income tax rate...Read more
Other - Other
Please refer to Note 1-Organization...Read more
Financial - Income
The effective income tax rate...Read more
Financial - Expense
Other expense, net for the...Read more
Financial - Expense
Other expense, net for the...Read more
Financial - Earnings
The increase in service margin...Read more
Financial - Expense
The increase in product costs...Read more
Financial - Expense
For the impairment test, we...Read more
Financial - Expense
The decrease in other expense,...Read more
Revenue - Product
ASC 606 requires revenue to...Read more
Revenue - Product
As a percentage of revenue,...Read more
Financial - Income
The effective income tax rate...Read more
Revenue - Product
Revenue for the nine months...Read more
Revenue - Product
Revenue for the three months...Read more
Revenue - Product
41 Nine Months Ended January...Read more
M & A - Other
The increase in net cash...Read more
Financial - Earnings
Additionally, we expect inflationary and...Read more
Financial - Earnings
Additionally, we expect inflationary and...Read more
Revenue - Product
The increase in product revenue...Read more
Revenue - Product
The following table (in thousands)...Read more
Revenue - Product
Due to the higher backlog,...Read more
Other - Other
If determined to be necessary,...Read more
Financial - Expense
The increase in interest expense,...Read more
Financial - Expense
The increase in interest expense,...Read more
Financial - Expense
On cost-plus-fee programs, we typically...Read more
Other - Other
The termination of the COCO...Read more
Other - Other
Our primary liquidity needs are...Read more
Financial - Expense
Incurred costs represent work performed,...Read more
Other - Other
In some cases, forward-looking statements...Read more
Financial - Shares
The decrease in net cash...Read more
Financial - Expense
During the nine months ended...Read more
Financial - Expense
For the three months ended...Read more
Financial - Expense
For the nine months ended...Read more
Other - Other
However, the continued spread of...Read more

Financial Statements, Disclosures and Schedules

Inside this 10-Q Quarterly Report

Material Contracts, Statements, Certifications & more

Aerovironment Inc provided additional information to their SEC Filing as exhibits

Exhibit 31.1: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 31.2: Rule 13A-14(A)/15D-14(A) Certification

Exhibit 32: Section 1350 Certification

Ticker: AVAV
CIK: 1368622
Form Type: 10-Q Quarterly Report
Accession Number: 0001558370-23-002924
Submitted to the SEC: Mon Mar 06 2023 4:26:56 PM EST
Accepted by the SEC: Mon Mar 06 2023
Period: Saturday, January 28, 2023
Industry: Aircraft