Episode Details

AeroVironment's record Q4 2026 blends sci-fi milestones like $10 anti-drone lasers with the harsh reality of government bureaucracy and botched merger math.

In ~10 minutes:

• Firing directed-energy lasers off a nuclear supercarrier 🚢

• Why management expects negative FY27 free cash flow

• Plowing 14% of revenue into a massive capacity moat

• How an external auditor missed an $89M tax asset

• Legacy service margins cratering due to M&A realignments

Wall Street sent shares surging 22% in extended trading on the massive EPS beat. However, looking closely at management's first-half guidance reveals a defense spending pipeline practically frozen by election-year politics.

AeroVironment (AVAV) | Q4 FY2026

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