How AeroVironment makes money

Period

FY2026

How does AeroVironment make money? This Sankey traces every dollar of revenue through the income statement — into cost of revenue, R&D, SG&A, and taxes — and shows what's left as profit. Pick any fiscal year, recent quarter, or the trailing twelve months. Straight from SEC filings.

AeroVironment Inc. · FY2026 · year ended 2026-04-30

Revenue$2.0BNet loss$265M · 13%Cost of revenue$1.5B · 75%Gross profit$501M · 25%Operating expenses$812M · 41%Other income$46M · 2%R&D$128M · 6%SG&A$443M · 22%Other opex$241M · 12%Service$561M · 28%Uncrewed Aircraft Systems$364M · 18%Cyber & Mission Solutions$345M · 17%Space & Directed Energy$273M · 14%Product & Service Other$146M · 7%Other revenue$287M · 15%

Each fiscal year from SEC filings. Percentages are share of revenue, so the green profit nodes read directly as gross / operating / net margin. Line items a company doesn't break out are derived from their siblings so the flows balance; small residuals show as “Other.” For informational purposes only.