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Organization and Significant Accounting Policies (Tables)

12 Months Ended

Apr. 30, 2023

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
Backlog	​	1 year	​
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

​

The following tables present the Company’s revenue disaggregated by segment, contract type, customer category and geographic location (in thousands):

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​	​	​		​	​		​	​
Revenue by segment	​	2023			2022		​	2021
SUAS	​	$	233,908	​	$	178,201	​	$	235,854
TMS	​	​	120,624	​	​	76,415	​	​	87,268
MUAS	​	​	70,327	​	​	93,156	​	​	15,837
All Other	​		115,677	​		97,960	​		55,953
Total revenue	​	$	540,536	​	$	445,732	​	$	394,912

​

​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​	​	April 30,		​	April 30,		​	April 30,
Revenue by contract type	​	2023			2022		​	2021
FFP	​	$	430,547	​	$	346,092	​	$	307,413
CPFF	​	​	104,444	​	​	93,428	​	​	86,719
T&M	​		5,545	​		6,212	​		780
Total revenue	​	$	540,536	​	$	445,732	​	$	394,912

​

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,
​	​	April 30,		​	April 30,		​	April 30,
Revenue by customer category	​	2023			2022		​	2021
U.S. government	​	$	366,895	​	$	294,941	​	$	271,273
Non-U.S. government	​	​	173,641	​	​	150,791	​	​	123,639
Total revenue	​	$	540,536	​	$	445,732	​	$	394,912
​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​	​	April 30,		​	April 30,		​	April 30,
Revenue by geographic location	​	2023			2022		​	2021
Domestic	​	$	251,428	​	$	262,258	​	$	241,898
International	​	​	289,108	​	​	183,474	​	​	153,014
Total revenue	​	$	540,536	​	$	445,732	​	$	394,912

Schedule of reconciliation of basic to diluted shares

​

​	​	​	​	​	​	​	​	​	​	​
​	​	Year Ended April 30,
​		2023			2022			2021
​	​	​	​	​	​	​	​	​	​	​
Net (loss) income attributable to AeroVironment, Inc.	​	$	(176,212,000)	​	$	(4,188,000)	​	$	23,331,000	​
Denominator for basic earnings per share:	​	​	​	​	​	​	​	​	​	​
Weighted average common shares	​		25,044,881	​		24,685,534	​		24,049,851	​
Dilutive effect of employee stock options, restricted stock and restricted stock units	​		—	​		—	​		312,805	​
Denominator for diluted earnings per share	​		25,044,881	​		24,685,534	​		24,362,656	​

​

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