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Organization and Significant Accounting Policies (Tables) | 6 Months Ended
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Oct. 28, 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 |  | Six Months Ended | ​
​ |  | October 28, | ​ | October 29, |  | October 28, | ​ | October 29, | ​
Revenue by segment | ​ | 2023 |  | 2022 |  | 2023 |  | 2022 | ​
UMS | ​ | $ | 132,773 | ​ | $ | 61,634 | ​ | $ | 230,980 | ​ | $ | 129,408 | ​
LMS | ​ | ​ | 30,249 | ​ | ​ | 31,101 | ​ | ​ | 61,166 | ​ | ​ | 54,113 | ​
MW | ​ | ​ | 17,794 | ​ | ​ | 18,849 | ​ | ​ | 41,017 | ​ | ​ | 36,579 | ​
Total revenue | ​ | $ | 180,816 | ​ | $ | 111,584 | ​ | $ | 333,163 | ​ | $ | 220,100 | ​
​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ |  | October 28, | ​ | October 29, |  | October 28, | ​ | October 29, | ​
Revenue by contract type | ​ | 2023 |  | 2022 | ​ | 2023 |  | 2022 | ​
FFP | ​ | $ | 159,879 | ​ | $ | 85,236 | ​ | $ | 289,821 | ​ | $ | 166,065 | ​
CPFF | ​ | ​ | 19,802 | ​ | ​ | 25,013 | ​ | ​ | 41,095 | ​ | ​ | 51,468 | ​
T&M | ​ |  | 1,135 | ​ |  | 1,335 |  |  | 2,247 | ​ |  | 2,567 | ​
Total revenue | ​ | $ | 180,816 | ​ | $ | 111,584 | ​ | $ | 333,163 | ​ | $ | 220,100 | ​
​ 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 | ​ | Six Months Ended | ​
​ |  | October 28, | ​ | October 29, |  | October 28, | ​ | October 29, | ​
Revenue by customer category | ​ | 2023 |  | 2022 | ​ | 2023 |  | 2022 | ​
U.S. government | ​ | $ | 149,959 | ​ | $ | 84,165 | ​ | $ | 251,307 | ​ | $ | 151,880 | ​
Non-U.S. government | ​ | ​ | 30,857 | ​ | ​ | 27,419 | ​ | ​ | 81,856 | ​ | ​ | 68,220 | ​
Total revenue | ​ | $ | 180,816 | ​ | $ | 111,584 | ​ | $ | 333,163 | ​ | $ | 220,100 | ​
​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
​ | ​ | Three Months Ended | ​ | Six Months Ended | ​
​ | ​ | October 28, | ​ | October 29, | ​ | October 28, | ​ | October 29, | ​
Revenue by geographic location | ​ | 2023 |  | 2022 | ​ | 2023 |  | 2022 | ​
Domestic | ​ | $ | 69,975 | ​ | $ | 67,657 | ​ | $ | 128,101 | ​ | $ | 117,760 | ​
International | ​ | ​ | 110,841 | ​ | ​ | 43,927 | ​ | ​ | 205,062 | ​ | ​ | 102,340 | ​
Total revenue | ​ | $ | 180,816 | ​ | $ | 111,584 | ​ | $ | 333,163 | ​ | $ | 220,100 | ​
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 | ​ | ​ | Six Months Ended |
​ |  | October 28, 2023 |  | October 29, 2022 |  | October 28, 2023 |  | October 29, 2022 |
Net income (loss) attributable to AeroVironment, Inc. | ​ | $ | 17,840 | ​ | $ | (6,668) | ​ | $ | 39,735 | ​ | $ | (15,063) | ​
Denominator for basic earnings (loss) per share: | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​ | ​
Weighted average common shares | ​ |  | 26,865,763 | ​ |  | 24,900,873 |  | ​ | 26,479,168 |  | ​ | 24,852,219 | ​
Dilutive effect of employee stock options, restricted stock and restricted stock units | ​ |  | 91,043 | ​ |  | — |  | ​ | 90,099 |  | ​ | — | ​
Denominator for diluted earnings (loss) per share | ​ | ​ | 26,956,806 | ​ | ​ | 24,900,873 | ​ | ​ | 26,569,267 | ​ | ​ | 24,852,219 | ​

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