v3.24.1.1.u2
Organization and Significant Accounting Policies (Tables)
12 Months Ended
Apr. 30, 2024
Organization and Significant Accounting Policies  
Schedule of estimated useful lives of property and equipment

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Machinery and equipment

    

2 – 7 years

 

Computer equipment and software

 

2 – 5 years

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In-service ISR assets

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3 years

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Furniture and fixtures

 

3 – 7 years

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Leasehold improvements

 

Lesser of useful life or term of lease

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

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Technology

    

3 – 12 years

 

Backlog

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1 year

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Licenses

 

3 years

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Customer relationships

 

3 – 5 years

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In-process research and development

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3 years

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Trademarks and tradenames

 

6 years

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Non-compete agreements

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Contractual term

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Schedule of revenue by category

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

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Year Ended April 30,

Revenue by segment

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2024

    

2023

​

2022

UxS

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$

448,006

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$

343,910

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$

300,743

LMS

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​

192,587

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​

120,624

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​

76,415

MW

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​

76,127

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​

76,002

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​

68,574

Total revenue

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$

716,720

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$

540,536

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$

445,732

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Year Ended April 30,

Revenue by contract type

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2024

    

2023

​

2022

FFP

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$

634,266

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$

430,547

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$

346,092

CPFF

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​

77,458

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​

104,444

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​

93,428

T&M

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4,996

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5,545

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6,212

Total revenue

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$

716,720

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$

540,536

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$

445,732

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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.

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Year Ended April 30,

Revenue by customer category

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2024

    

2023

​

2022

U.S. government

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$

544,885

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$

366,895

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$

294,941

Non-U.S. government

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​

171,835

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173,641

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​

150,791

Total revenue

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$

716,720

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$

540,536

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$

445,732

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Year Ended April 30,

Revenue by geographic location

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2024

    

2023

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2022

Domestic

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$

271,727

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$

251,428

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$

262,258

International

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​

444,993

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​

289,108

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​

183,474

Total revenue

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$

716,720

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$

540,536

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$

445,732

Schedule of revenue percentage by recognition method

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Year Ended April 30,

Revenue percentage by recognition method

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2024

    

2023

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2022

Over time

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43%

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51%

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​

57%

Point in time

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57%

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49%

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43%

Total revenue

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100%

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100%

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100%

Schedule of reconciliation of basic to diluted shares

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Year Ended April 30,

 

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2024

    

2023

    

2022

 

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Net income (loss) attributable to AeroVironment, Inc.

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$

59,666,000

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$

(176,212,000)

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$

(4,188,000)

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Denominator for basic earnings per share:

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Weighted average common shares

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27,203,417

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25,044,881

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24,685,534

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Dilutive effect of employee stock options, restricted stock and restricted stock units

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124,576

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—

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—

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Denominator for diluted earnings per share

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27,327,993

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25,044,881

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24,685,534

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