AeroVironment skyrockets 21% as dronemaker capitalizes on defense spending surge
The Virginia-based dronemaker more than doubled revenue to $642 million and lifted funded backlog 65% as defense spending expectations rose.
- On Tuesday, June 30, 2026, AeroVironment shares rose more than 30% after the company reported fiscal fourth-quarter revenue of $642 million, surpassing Wall Street's $556 million projection.
- A 65% jump in funded backlog to $1.2 billion and $282.3 million in revenue from BlueHalo and Empirical Systems Aerospace acquisitions drove the company's operational growth.
- Tracking the company's performance, Unusual Machines added 9%, Kratos Defense and Security Solutions surged 7%, and Red Cat gained 5%, signaling investor appetite for defense technology.
- CEO Wahid Nawabi told CNBC that conflicts in Ukraine and Iran have brought drone technology to the "forefront" of modern warfare, citing unprecedented demand scaling manufacturing operations.
- The Department of Defense requested a record $75 billion for drones in 2027, while analysts at KeyBanc Capital Markets identify the LOCUST high-energy laser system as a primary long-term growth driver.
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6 Articles
Dronemaker AeroVironment Climbs 19% as Pentagon Races to Expand UAV Fleet
For a company whose name sounds like a painfully eco-conscious chocolate bar, AeroVironment had a pretty tasty Tuesday. Shares in the dronemaker (not candymaker) closed up 19% as an earnings report that blew away Wall Street’s forecasts marshaled a fierce rally. It couldn’t have come at a better time. Droning On AeroVironment had a rough few innings leading into its quarterly report. Earlier this year, the US Space Force canceled a $1.7 billio…
AeroVironment (NASDAQ:AVAV) climbs, but backlog, margin details curb gains
NEW YORK, June 30, 2026, 17:04 (EDT) AeroVironment ended the day up 18.8% at $165.07. Shares opened at $176.50 and traded as high as that before slipping to close 7.5% below the session peak. (Google) AeroVironment’s funded backlog stands at $1.2 billion, which is roughly 55% of the midpoint in its fiscal 2027 revenue forecast.…
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