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Organization and Significant Accounting Policies (Tables)

3 Months Ended

Jul. 29, 2023

Organization and Significant Accounting Policies

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):

​

​	​	​	​	​	​	​	​
​		Three Months Ended					​
​		July 29,		​	July 30,		​
Revenue by segment		2023			2022		​
UMS	​	$	98,207	​	$	67,775	​
LMS	​	​	30,917	​	​	23,011	​
MW	​	​	23,223	​	​	17,730	​
Total revenue	​	$	152,347	​	$	108,516	​

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​		July 29,		​	July 30,		​
Revenue by contract type	​	2023			2022		​
FFP	​	$	129,942	​	$	80,829	​
CPFF	​	​	21,293	​	​	26,456	​
T&M			1,112	​		1,231	​
Total revenue	​	$	152,347	​	$	108,516	​

​

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.

​

​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​		July 29,		​	July 30,		​
Revenue by customer category	​	2023			2022		​
U.S. government	​	$	101,348	​	$	67,299	​
Non-U.S. government	​	​	50,999	​	​	41,217	​
Total revenue	​	$	152,347	​	$	108,516	​
​	​	​	​	​	​	​	​
​	​	Three Months Ended					​
​	​	July 29,		​	July 30,		​
Revenue by geographic location	​	2023			2022		​
Domestic	​	$	58,126	​	$	50,103	​
International	​	​	94,221	​	​	58,413	​
Total revenue	​	$	152,347	​	$	108,516	​

Schedule of reconciliation of basic to diluted shares

The reconciliation of basic to diluted shares is as follows (in thousands except share data):

​

​	​	​	​	​	​	​	​
​	​	​	Three Months Ended
​		July 29, 2023			July 30, 2022
Net income (loss) attributable to AeroVironment, Inc.	​	$	21,895	​	$	(8,395)	​
Denominator for basic earnings (loss) per share:	​	​	​	​	​	​	​
Weighted average common shares		​	26,088,277		​	24,804,232	​
Dilutive effect of employee stock options, restricted stock and restricted stock units		​	90,765		​	—	​
Denominator for diluted earnings (loss) per share	​	​	26,179,042	​	​	24,804,232	​

X

- Definition

Tabular disclosure of disaggregation of revenue into categories depicting how nature, amount, timing, and uncertainty of revenue and cash flows are affected by economic factor.

+ References

Reference 1: http://www.xbrl.org/2009/role/commonPracticeRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 5
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147479806/606-10-50-5

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- Definition

Tabular disclosure of the weighted average number of shares used in calculating basic net earnings per share (or unit) and diluted earnings per share (or unit).

+ References

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Name Accounting Standards Codification
-Topic 260
-SubTopic 10
-Section 50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org//1943274/2147482662/260-10-50-1

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