{"url_path":"/sec/avav/10-q/2026/cover-page","section_key":"cover-page","section_title":"Cover Page","topic":"sec","document":{"doc_type":"10-Q/A","doc_date":"2026-06-22","source_url":"https://www.sec.gov/Archives/edgar/data/1368622/0001104659-26-076141-index.html","accession_number":"0001104659-26-076141","cik":"0001368622","ticker":"AVAV","issuer_name":"AeroVironment Inc","edgar_url":"https://www.sec.gov/Archives/edgar/data/1368622/0001104659-26-076141-index.html","primary_entity_key":"0001368622","primary_entity_name":"AeroVironment Inc"},"word_count":1783,"has_tables":true,"body_markdown":"AEROVIRONMENT, INC._January 31, 2026\n\n0001368622--04-302026Q30000This Amendment No. 1 on Form 10-Q/A (\"Form 10-Q/A\") amends and restates certain items in AeroVironment, Inc.'s ( \"the Company\") Quarterly Report on Form 10-Q for the quarterly period ended January 31, 2026, initially filed with the Securities and Exchange Commission (the \"SEC\") on March 10, 2026 (the \"Original Form 10-Q\"). This Form 10-Q/A sets forth the information in the Original Form 10-Q in its entirety, as adjusted for the effects of the restatement described below.In this Form 10-Q/A, the Company is restating its previously issued unaudited condensed consolidated financial statements for the quarter ended January 31, 2026, as further described below. The Company does not intend to amend any other reports previously filed or furnished with the SEC. Accordingly, investors and other readers should rely only on the financial information and related disclosures regarding the period described above (the \"Affected Period\") in this Form 10-Q/A and in any other future filings with the SEC (as applicable) and should not rely on the prior filings for this quarterly period or any previously issued or filed reports, press releases, earnings releases, investor presentations or similar communications relating to the Affected 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of Contents](#Toc)\n\n​\n\n​\n\n**UNITED STATES********SECURITIES AND EXCHANGE COMMISSION**\n\n**WASHINGTON, D.C. 20549**\n\n​\n\n​\n\n**FORM ****10-Q/A**\n\n**(Amendment No. 1)**\n\n​\n\n**☒**\n\n**QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934.**\n\n​\n\n**For the quarterly period ended****January 31, 2026**\n\n​\n\n**OR**\n\n​\n\n**☐**\n\n**TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934**\n\n​\n\n**For the transition period from           to           **\n\n​\n\n**Commission File Number:****001-33261**\n\n​\n\n​\n\n**AEROVIRONMENT, INC.**\n\n(Exact name of registrant as specified in its charter)\n\n​\n\n**Delaware**\n\n​\n\n**95-2705790**\n\n(State or other jurisdiction of incorporation or organization)\n\n​\n\n(I.R.S. Employer Identification No.)\n\n​\n\n​\n\n​\n\n**241 18**th**Street South, Suite 650**\n\n​\n\n​\n\n**Arlington****,****Virginia**\n\n​\n\n**22202**\n\n(Address of principal executive offices)\n\n​\n\n(Zip Code)\n\n​\n\n**(****805****)****520-8350**\n\n(Registrant’s telephone number, including area code)\n\n​\n\n**N/A**\n\n(Former name, former address and former fiscal year, if changed since last report)\n\n​\n\n​\n\n**Securities registered pursuant to Section 12(b) of the Act:**\n\n​\n\n**Title of each class**\n\n​\n\n**Trading Symbol(s)**\n\n**Name of each exchange on which registered**\n\n**Common Stock, par value $0.0001 per share**\n\n​\n\n**AVAV**\n\n**The****NASDAQ****Stock Market LLC**\n\n​\n\nIndicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant has submitted electronically, every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐\n\n​\n\nIndicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.\n\n​\n\n​\n\n​\n\nLarge accelerated filer ☒\n\n​\n\nAccelerated filer ☐\n\n​\n\n​\n\n​\n\nNon-accelerated filer ☐\n\n​\n\nSmaller reporting company ☐\n\n​\n\n​\n\n​\n\n​\n\n​\n\nEmerging growth company ☐\n\nIf an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐\n\n​\n\nIndicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒\n\n​\n\nAs of March 4, 2026, the number of shares outstanding of the registrant’s common stock, $0.0001 par value, was 49,933,993.\n\n​\n\n​\n\n​\n\n​\n\n[Table of Contents](#Toc)\n\n**EXPLANATORY NOTE**\n\n​\n\nThis Amendment No. 1 on Form 10-Q/A (“Form 10-Q/A”) amends and restates certain items in AeroVironment, Inc.’s (“the Company”) Quarterly Report on Form 10-Q for the quarterly period ended January 31, 2026, initially filed with the Securities and Exchange Commission (the “SEC”) on March 11, 2026 (the “Original Form 10-Q”). This Form 10-Q/A sets forth the information in the Original Form 10-Q in its entirety, as adjusted for the effects of the restatement described below.\n\n​\n\nIn this Form 10-Q/A, the Company is restating its previously issued unaudited condensed consolidated financial statements for the three and nine months ended January 31, 2026, as further described below. The Company does not intend to amend any other reports previously filed or furnished with the SEC. Accordingly, investors and other readers should rely only on the financial information and related disclosures regarding the period described above (the “Affected Period”) in this Form 10-Q/A and in any other future filings with the SEC (as applicable) and should not rely on any previously issued or filed reports, press releases, earnings releases, investor presentations or similar communications relating to the Affected Period.\n\n​\n\nItems Amended in this Filing\n\nThis Form 10-Q/A amends and restates the following items of the Original Form 10-Q:\n\nPart I - Item 1. Financial Statements\n\nPart I - Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations\n\nPart I - Item 4. Controls and Procedures\n\nPart II - Item 1A. Risk Factors\n\nPart II - Item 6. Exhibits\n\nIn accordance with Rule 12b-15 under the Securities Exchange Act of 1934, as amended (the “Exchange Act”), the certifications specified in Rule 13a-14 under the Exchange Act and Section 1350 of Chapter 63 of Title 18 of the United States Code (18 U.S.C. 1350) from our principal executive officer and principal financial officer, each dated as of the date hereof, are being filed or furnished, as applicable, with this Form 10-Q/A as Exhibits 31.1, 31.2 and 32.\n\nThis Form 10-Q/A sets forth the information in the Original Form 10-Q in its entirety, as such information is amended and restated where necessary to reflect the restatement and related revisions. Except as provided above, this Form 10-Q/A does not amend, update or change any other items or disclosures. Unless otherwise provided, the disclosures in this Form 10-Q/A are made as of the date of the Original Form 10-Q and do not reflect any events that occurred after the date of the Original Form 10-Q or modify or update any other disclosures in the Original Form 10-Q affected by subsequent events. As such, forward-looking statements included in this Form 10-Q/A may represent management’s views as of the date of the Original Form 10-Q and should not be assumed to be accurate as of any date thereafter. Accordingly, this Form 10-Q/A should be read in conjunction with the Company’s other SEC filings.\n\n**Restatement Background**\n\nAs described in the Company’s Current Report on Form 8-K filed with the SEC on June 22, 2026, during the preparation of the Company’s consolidated financial statements as of and for the year ended April 30, 2026, the Company identified an error in the calculation of the carrying value used in the goodwill impairment analysis for the Space reporting unit. Specifically, the Space reporting unit carrying value utilized in the goodwill impairment analysis did not include an allocation of the goodwill resulting from acquired deferred tax assets and liabilities. This error had no impact on previously reported GAAP financial information of current assets, current liabilities, revenues, or cash used in operating activities.\n\n2\n\n[Table of Contents](#Toc)\n\nAs a result of this error, in the Original Form 10-Q:\n\n●Loss from operations was understated by $89,402,000 for the three and nine months ended January 31, 2026\n\n●Net loss was understated by $87,272,000 for the three and nine months ended January 31, 2026\n\n●Basic and diluted net loss per share was understated by $1.75 and $1.79 for the three and nine months ended January 31, 2026, respectively\n\n●Total assets were overstated by $89,402,000, total liabilities were overstated by $2,130,000, and total stockholders’ equity was overstated by $87,272,000 as of January 31, 2026.\n\n**Internal Control Considerations**\n\n​\n\nAs a result of the error in the carrying value of the Space reporting unit discussed above, the Company’s management re-evaluated the effectiveness of the Company’s disclosure controls and procedures as of January 31, 2026. The Company’s management determined that the error and the related restatements were the result of a newly identified material weakness in the Company’s internal control over financial reporting related to the preparation and review of the goodwill impairment analysis, and concluded that disclosure controls and procedures as of January 31, 2026 were ineffective. Therefore, the Company’s previous evaluation of its disclosure controls and procedures as of January 31, 2026 should no longer be relied upon. See Part I - Item 4. Controls and Procedures, in this Form 10-Q/A for additional information related to this material weakness in internal control over financial reporting and the related remedial measures.\n\n​\n\n3\n\n[Table of Contents](#Toc)\n\n**AeroVironment, Inc.**\n\n​\n\n**Table of Contents**\n\n​\n\n[Item 1.](#ITEM1FINANCIALSTATEMENTS_601539)\n\n[Financial Statements :](#ITEM1FINANCIALSTATEMENTS_601539)\n\n  ​ ​ ​\n\n​\n\n​\n\n[Condensed Consolidated Balance Sheets as of January 31, 2026 As Restated (Unaudited) and April 30, 2025 (Unaudited)](#BalanceSheets_59163)\n\n​\n\n5\n\n​\n\n[Condensed Consolidated Statements of Operations for the three and nine months ended January 31, 2026 As Restated (Unaudited) and January 25, 2025 (Unaudited)](#StatementsofOperations_883541)\n\n​\n\n6\n\n​\n\n[Condensed Consolidated Statements of Comprehensive (Loss) Income for the three and nine months ended January 31, 2026 As Restated (Unaudited) and January 25, 2025 (Unaudited)](#LossIncomeUnaudited_152279)\n\n​\n\n7\n\n​\n\n[Condensed Consolidated Statements of Stockholders’ Equity for the three and nine months ended January 31, 2026 As Restated (Unaudited) and January 25, 2025 (Unaudited)](#Equity_493049)\n\n​\n\n8\n\n​\n\n[Condensed Consolidated Statements of Cash Flows for the nine months ended January 31, 2026 As Restated (Unaudited) and January 25, 2025(Unaudited)](#ConsolidatedStatementsofCashFlows_209255)\n\n​\n\n10\n\n​\n\n[Notes to Condensed Consolidated Financial Statements (Unaudited)](#NotestoConsolidatedFinancial_915262)\n\n​\n\n11\n\n[Item 2.](#ITEM2_MANAGEMENTSDISCUSSIONANDAN_021218)\n\n[Management’s Discussion and Analysis of Financial Condition and Results of Operations](#ITEM2_MANAGEMENTSDISCUSSIONANDAN_021218)\n\n​\n\n34\n\n[Item 3.](#ITEM3_QUANTITATIVEANDQUALITATIVE_021302)\n\n[Quantitative and Qualitative Disclosures About Market Risk](#ITEM3_QUANTITATIVEANDQUALITATIVE_021302)\n\n​\n\n46\n\n[Item 4.](#ITEM4CONTROLSANDPROCEDURES_613247)\n\n[Controls and Procedures](#ITEM4_CONTROLSANDPROCEDURES_021320)\n\n​\n\n46\n\n​\n\n​\n\n​\n\n​\n\n[**PART II. OTHER INFORMATION**](#PARTIIOTHERINFORMATION_857105)\n\n​\n\n​\n\n​\n\n​\n\n​\n\n​\n\n[Item 1.](#ITEM1_LEGALPROCEEDINGS_030840)\n\n[Legal Proceedings](#ITEM1_LEGALPROCEEDINGS_030840)\n\n​\n\n49\n\n[Item 1A.](#ITEM1A_RISKFACTORS_030841)\n\n[Risk Factors](#ITEM1A_RISKFACTORS_030841)\n\n​\n\n49\n\n[Item 2.](#ITEM2_UNREGISTEREDSALESOFEQUITYS_030842)\n\n[Unregistered Sales of Equity Securities and Use of Proceeds](#ITEM2_UNREGISTEREDSALESOFEQUITYS_030842)\n\n​\n\n52\n\n[Item 3.](#ITEM3_DEFAULTSUPONSENIORSECURITI_030843)\n\n[Defaults Upon Senior Securities](#ITEM3_DEFAULTSUPONSENIORSECURITI_030843)\n\n​\n\n52\n\n[Item 4.](#ITEM4_MINESAFETYDISCLOSURES_030844)\n\n[Mine Safety Disclosures](#ITEM4_MINESAFETYDISCLOSURES_030844)\n\n​\n\n52\n\n[Item 5.](#ITEM5_OTHERINFORMATION_030845)\n\n[Other Information](#ITEM5_OTHERINFORMATION_030845)\n\n​\n\n52\n\n[Item 6.](#ITEM6_EXHIBITS_030846)\n\n[Exhibits](#ITEM6_EXHIBITS_030846)\n\n​\n\n53\n\n[Signatures](#SIGNATURES_030848)\n\n​\n\n54\n\n​\n\n​\n\n​\n\n4\n\n[Table of Contents](#Toc)\n\n**PART I. FINANCIAL INFORMATION**\n\n​"}