Overview

• AeroVironment reported about $455.7 million in first‑quarter revenue with record backlogs in its first results to include BlueHalo.
• Funded backlog reached $1.1 billion and unfunded backlog rose to $3.1 billion, signaling robust near‑term and potential future demand.
• BlueHalo secured a $499 million, eight‑year U.S. Air Force R&D award, and AeroVironment announced nearly $240 million in laser communications terminal orders for orbital deployment.
• The company delivered two Locust mobile laser counter‑UAS prototypes to the U.S. Army’s AMP‑HEL effort and raised its fiscal 2026 EPS outlook.
• Analysts lifted price targets after investor events—Raymond James to $348 and Jefferies to $365—while noting elevated valuation, margin pressure, and integration costs as key execution risks.