Organization and Significant Accounting Policies (Tables)

3 Months Ended

Jul. 30, 2022

Organization and Significant Accounting Policies

Schedule of revenue by category

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

	Three Months Ended
	July 30,		July 31,
Revenue by segment	2022		2021
Small UAS	$	43,256	$	39,924
TMS		23,011		19,176
MUAS		19,262		22,379
HAPS		10,215		10,352
All Other		12,772		9,178
Total revenue	$	108,516	$	101,009

	Three Months Ended
	July 30,		July 31,
Revenue by contract type	2022		2021
FFP	$	80,829	$	80,766
CPFF		26,456		19,117
T&M		1,231		1,126
Total revenue	$	108,516	$	101,009

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 30,		July 31,
Revenue by customer category	2022		2021
U.S. government	$	67,299	$	71,075
Non-U.S. government		41,217		29,934
Total revenue	$	108,516	$	101,009
	Three Months Ended
	July 30,		July 31,
Revenue by geographic location	2022		2021
Domestic	$	50,103	$	68,388
International		58,413		32,621
Total revenue	$	108,516	$	101,009

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 30, 2022		July 31, 2021
Net loss attributable to AeroVironment, Inc.	$	(8,395)	$	(13,981)
Denominator for basic loss per share:
Weighted average common shares		24,804,232		24,620,180
Dilutive effect of employee stock options, restricted stock and restricted stock units		—		—
Denominator for diluted loss per share		24,804,232		24,620,180