Organization and Significant Accounting Policies (Tables)

6 Months Ended

Oct. 29, 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				Six Months Ended
	October 29,		October 30,		October 29,		October 30,
Revenue by segment	2022		2021		2022		2021
Small UAS	$	26,681	$	54,714	$	69,937	$	94,638
TMS		31,101		18,418		54,113		37,594
MUAS		27,281		26,525		46,542		48,904
HAPS		9,066		10,342		19,281		20,694
All Other		17,455		12,009		30,227		21,187
Total revenue	$	111,584	$	122,008	$	220,100	$	223,017

	Three Months Ended				Six Months Ended
	October 29,		October 30,		October 29,		October 30,
Revenue by contract type	2022		2021		2022		2021
FFP	$	85,236	$	98,393	$	166,065	$	179,159
CPFF		25,013		21,594		51,468		40,711
T&M		1,335		2,021		2,567		3,147
Total revenue	$	111,584	$	122,008	$	220,100	$	223,017

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 29,		October 30,		October 29,		October 30,
Revenue by customer category	2022		2021		2022		2021
U.S. government	$	84,165	$	72,076	$	151,880	$	143,151
Non-U.S. government		27,419		49,932		68,220		79,866
Total revenue	$	111,584	$	122,008	$	220,100	$	223,017
	Three Months Ended				Six Months Ended
	October 29,		October 30,		October 29,		October 30,
Revenue by geographic location	2022		2021		2022		2021
Domestic	$	67,657	$	68,663	$	117,760	$	137,051
International		43,927		53,345		102,340		85,966
Total revenue	$	111,584	$	122,008	$	220,100	$	223,017

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 29, 2022		October 30, 2021		October 29, 2022		October 30, 2021
Net (loss) income attributable to AeroVironment, Inc.	$	(6,668)	$	2,525	$	(15,063)	$	(11,456)
Denominator for basic (loss) earnings per share:
Weighted average common shares		24,900,873		24,641,614		24,852,219		24,630,838
Dilutive effect of employee stock options, restricted stock and restricted stock units		—		244,256		—		—
Denominator for diluted (loss) earnings per share		24,900,873		24,885,870		24,852,219		24,630,838