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Segments

12 Months Ended

Apr. 30, 2021

Segments

Segments

22.          Segments

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The Company’s product segments are as follows:

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Unmanned Aircraft Systems—The UAS segment focuses primarily on the design, development, production, delivery and support of a technologically advanced portfolio of intelligent, multi-domain robotic systems and related services for government agencies and businesses. AeroVironment, Inc. supplies unmanned aircraft systems (“UAS”), tactical missile systems (“TMS”) and related services primarily to organizations within the U.S. Department of Defense (“DoD”) and to international allied governments.

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Medium Unmanned Aircraft Systems—The MUAS segment, which originates with the acquisition of Arcturus, focuses on designs, engineers, tools, and manufactures unmanned aerial and aircraft systems including airborne platforms, payloads and payload integration, ground control systems, and ground support equipment and other items and services related generally to unmanned aircraft systems including ISR services.

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The accounting policies of the segments are the same as those described in Note 1, “Organization and Significant Accounting Policies.” The operating segments do not make sales to each other. The segment results are as follows (in thousands):

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​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​	​	2021		​	2020		​	2019
Revenue:	​	​	​	​	​	​	​	​	​	​
UAS	​	$	379,075	​	$	367,296	​	$	314,274	​
MUAS	​		15,837	​	​	—	​	​	—	​
Total	​	​	394,912	​	​	367,296	​	​	314,274	​
Gross margin:	​	​	​	​	​	​	​	​	​	​
UAS	​	​	161,593	​	​	153,102	​	​	128,403	​
MUAS	​	​	2,965	​	​	—	​	​	—	​
Total	​	​	164,558	​	​	153,102	​	​	128,403	​
Income (loss) from continuing operations:	​	​	​	​	​	​	​	​	​	​
UAS	​	​	45,182	​	​	47,135	​	​	33,826	​
MUAS	​	​	(1,869)	​	​	—	​	​	—	​
Total	​	​	43,313	​	​	47,135	​	​	33,826	​
Total assets	​	​	​	​	​	​	​	​	​	​
UAS	​	​	439,320	​	​	584,954	​	​	508,844	​
MUAS	​	​	489,246	​	​	—	​	​	—	​
Total	​	​	928,566	​	​	584,954	​	​	508,844	​

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- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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