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Organization and Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2021

Organization and Significant Accounting Policies

Schedule of estimated useful lives of property and equipment

​

​	​	​	​
Machinery and equipment		2 - 7 years
Computer equipment and software		2 - 5 years	​
In-service ISR assets	​	3 years	​
Furniture and fixtures		3 - 7 years	​
Leasehold improvements		Lesser of useful life or term of lease	​

Schedule of estimated useful life for the Company's intangible assets

​

​	​	​	​
Technology		3 - 12 years
Licenses		3 years	​
Customer relationships		3 - 5 years	​
In-process research and development	​	3 years	​
Trademarks and tradenames		6 years	​
Non-compete agreements	​	Contractual term	​

Schedule of revenue by category

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
Revenue by major product line/program	​	2021			2020		​	2019
Small UAS	​	$	235,854	​	$	225,888	​	$	183,157
MUAS	​	​	15,837	​	​	—	​	​	—
TMS	​	​	87,268	​	​	63,781	​	​	65,087
HAPS	​	​	42,426	​	​	60,864	​	​	55,407
Other	​		13,527	​		16,763	​		10,623
Total revenue	​	$	394,912	​	$	367,296	​	$	314,274

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
Revenue by contract type	​	2021			2020		​	2019
FFP	​	$	307,413	​	$	269,917	​	$	224,090
CPFF	​	​	86,719	​	​	94,176	​	​	89,485
T&M	​		780	​		3,203	​		699
Total revenue	​	$	394,912	​	$	367,296	​	$	314,274

​

Each of these contract types presents advantages and disadvantages. Typically, the Company assumes more risk with FFP contracts. However, these types of contracts generally offer additional profits when the Company completes the work for less than originally estimated. CPFF contracts generally subject the Company to lower risk. Accordingly,

the associated base fees are usually lower than fees on FFP contracts. Under T&M contracts, the Company’s profit may vary if actual labor hour rates vary significantly from the negotiated rates.

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
Revenue by customer category	​	2021			2020		​	2019
U.S. government	​	$	271,273	​	$	225,341	​	$	182,586
Non-U.S. government	​	​	123,639	​	​	141,955	​	​	131,688
Total revenue	​	$	394,912	​	$	367,296	​	$	314,274
​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
Revenue by geographic location	​	2021			2020		​	2019
Domestic	​	$	241,898	​	$	201,046	​	$	151,124
International	​	​	153,014	​	​	166,250	​	​	163,150
Total revenue	​	$	394,912	​	$	367,296	​	$	314,274

Schedule of reconciliation of basic to diluted shares

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​		2021			2020			2019
​	​	​	​	​	​	​	​	​	​	​
Continuing operations attributable to AeroVironment, Inc.	​	$	23,331,000	​	$	41,339,000	​	$	41,912,000	​
Discontinued operations, net of tax	​	​	—	​	​	(265,000)	​	​	5,526,000	​
Net income attributable to AeroVironment, Inc.	​	$	23,331,000	​	$	41,074,000	​	$	47,438,000	​
Denominator for basic earnings per share:	​	​	​	​	​	​	​	​	​	​
Weighted average common shares	​		24,049,851	​		23,806,208	​		23,663,410	​
Dilutive effect of employee stock options, restricted stock and restricted stock units	​		312,805	​		281,959	​		408,303	​
Denominator for diluted earnings per share	​		24,362,656	​		24,088,167	​		24,071,713	​

​

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