What Happened
Defense Contractor Sees Revenue Jump 133% Amid Strong Demand
AeroVironment has announced a $500 million firm-fixed-price contract with the US Army for its Titan RF counter-drone systems, valid through June 2029. The company also reported a strong fiscal Q4, with revenue reaching $641.6 million, exceeding estimates by 15%. The news has sent AeroVironment shares surging 35%. According to TradingKey, the company’s autonomous systems business and counter-UAV offerings are driving growth, with a 1.4 book-to-bill ratio and a $1.2 billion backlog.