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Business Acquisitions (Tables)

12 Months Ended

Apr. 30, 2021

Arcturus UAV Inc.

Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the provisional allocation of the purchase price over the estimated fair value of the assets and liabilities assumed in the acquisition of Arcturus (in thousands):

​

​	​	​	​	​
​	​	February 19,		​
​	​	2021		​
Fair value of assets acquired:	​	​	​	​
Accounts receivable	​	​	6,050	​
Unbilled receivable	​	​	4,176	​
Inventories, net	​	​	21,701	​
Prepaid and other current assets	​	​	3,076	​
Property and equipment, net	​	​	38,739	​
Operating lease assets	​	​	11,429	​
Other assets	​	​	136	​
Technology	​	​	20,500	​
Customer relationships	​	​	62,700	​
Goodwill	​	​	288,611	​
Total assets acquired	​	​	457,118	​
​	​	​	​	​
Fair value of liabilities assumed:	​	​	​	​
Accounts payable	​	​	3,085	​
Wages and related accruals	​	​	1,698	​
Customer advances	​	​	1,818	​
Other current liabilities	​	​	8,534	​
Operating lease liabilities	​	​	12,297	​
Other non-current liabilities	​	​	1,190	​
Deferred income taxes, net	​	​	5,869	​
Total liabilities assumed	​	​	34,491	​
Total identifiable net assets	​	​	422,627	​
​	​	​	​	​
Fair value of consideration transferred:		​	​	​
Cash consideration, net of cash acquired	​	$	350,243	​
Equity consideration	​	​	72,384	​
Total consideration	​	​	422,627	​

Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred

The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2019 (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended
​	​	April 30,		​	April 30,
​		2021			2020
Revenue	​	$	478,579	​	$	454,769
Net income attributable to AeroVironment, Inc.	​	$	27,572	​	$	31,264

Intelligent Systems Group

Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date

The following table summarizes the provisional allocation of the purchase price over the estimated fair value of the assets and liabilities assumed in the ISG Acquisition (in thousands):

​

​	​	​	​	​
​	​	February 23,		​
​	​	2021		​
Technology		$	11,400	​
Customer relationships	​	​	4,500	​
Other assets	​	​	217	​
Goodwill	​	​	19,254	​
Total net identified assets acquired	​	$	35,371	​
​	​	​	​	​
Fair value of consideration:	​	​	​	​
Cash	​	$	29,700	​
Holdback	​	​	150	​
Contingent consideration	​	​	5,521	​
Total	​	$	35,371	​

Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred

The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2019 (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended
​	​	April 30,		​	April 30,
​		2021			2020
Revenue	​	$	406,444	​	$	379,627
Net income attributable to AeroVironment, Inc.	​	$	23,787	​	$	39,025

Pulse Aerospace, LLC

Schedule of the fair value of the assets acquired and liabilities assumed at the acquisition date

During the fiscal year ended April 30, 2020, the Company finalized its determination of the fair value of the assets and liabilities assumed as of the acquisition date, which is summarized in the following table (in thousands):

​

​	​	​	​	​
​	​	June 10,		​
​	​	2019		​
Technology		$	14,950	​
Goodwill	​	​	6,340	​
In-process R&D	​	​	550	​
Inventory	​	​	334	​
Non-compete agreements	​	​	320	​
Other assets, net of liabilities assumed	​	​	(614)	​
Total net identified assets acquired	​	$	21,880	​
​	​	​	​	​
Fair value of consideration:	​	​	​	​
Cash	​	$	18,677	​
Holdback	​	​	1,250	​
Retention	​	​	250	​
Contingent consideration	​	​	1,703	​
Total	​	$	21,880	​

Schedule of unaudited pro forma summary presents consolidated information of the Company as if the business combination had occurred

The following unaudited pro forma summary presents consolidated information of the Company as if the business acquisition had occurred on May 1, 2018 (in thousands):

​

​	​	​	​	​	​	​
​	​	Year Ended
​	​	April 30,		​	April 30,
​		2020			2019
Revenue	​	$	367,523	​	$	316,878
Net income attributable to AeroVironment, Inc.	​	$	41,481	​	$	43,204

X

- Definition

Tabular disclosure of the nature and amount of any material, nonrecurring adjustments directly attributable to the business combination(s) included in the reported pro forma revenue and earnings (supplemental pro forma information).

+ References

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-Publisher FASB
-Name Accounting Standards Codification
-Topic 805
-SubTopic 10
-Section 50
-Paragraph 2
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- Definition

Tabular disclosure of the amounts recognized as of the acquisition date for each major class of assets acquired and liabilities assumed. May include but not limited to the following: (a) acquired receivables; (b) contingencies recognized at the acquisition date; and (c) the fair value of noncontrolling interests in the acquiree.

+ References

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-Name Accounting Standards Codification
-Topic 805
-SubTopic 20
-Section 50
-Paragraph 1
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