AeroVironment 2025年度报告

☒Annual Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934For the fiscal year ended April30, 2026☐Transition Report Pursuant to Section13 or 15(d) of the Securities Exchange Act of 1934For the transition period fromto Commission file number001-33261 AEROVIRONMENT,INC.(Exact name of registrant as specified in its charter) Delaware95-2705790(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)241 18th Street South, Suite 650Arlington, VA22202(Address of Principal Executive Offices)(Zip Code)Registrant’s telephone number, including area code:(703)418-2828 Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule405 of the SecuritiesAct. Yes⌧No◻ Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or 15(d) of the Act.Yes◻No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of 1934 during the preceding 12months (or for such shorter period that the registrant wasrequired to file such reports), and (2)has been subject to such filing requirements for the past 90days. Yes⌧No◻ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required tobe submitted pursuant to Rule405 of RegulationS-T (§232.405 of this chapter) during the preceding 12months (or forsuch shorter period that the registrant was required to submit such files). Yes⌧No◻ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-acceleratedfiler, 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. Large accelerated filer⌧Accelerated filer◻Smaller reportingcompany☐ Emerging growth company☐ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extendedtransition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessmentof the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (15U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report.☒ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financialstatements of the registrant included in the filing reflect the correction of an error to previously issued financialstatements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysisof incentive-based compensation received by any of the registrant’s executive officers during the relevant recovery periodpursuant to §240.10D-1(b).☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule12b-2 of the Act). Yes☐No⌧ The aggregate market value of the voting stock held by non-affiliates of the registrant, based on the closing priceon the NASDAQ Global Select Market on November 1, 2025 was approximately $18,333.5million. As of June24, 2026, the issuer had 50,608,030 shares of common stock, par value $0.0001 per share, issued andoutstanding. Portions of the registrant’s definitive proxy statement to be filed with the Securities and Exchange Commissionpursuant to Regulation14A not later than 120days after the conclusion of the registrant’s fiscal year ended April30, 2026,are incorporated by reference into PartIII of this Form10-K. AEROVIRONMENT,INC.INDEX TO FORM 10-K PagePARTI Item1.Business3Item1A.Risk Factors15Item1B.Unresolved Staff Comments53Item 1C.Cybersecurity53Item2.Properties55Item3.Legal Proceedings55Item4.Mine Safety Disclosure56PART IIItem5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases ofEquitySecurities56Item6.Reserved58Item7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations58Item7A.Quantitative and Qualitative Disclosures About Market Risk74Item8.Financial Statements and Supplementary Data75Item9.Changes in and Disagreements with Accountants on Accounting and FinancialDisclosure127Item9A.Controls and Procedures127Item9B.Other Information128Item 9C.Disclosure Regarding Foreign Jurisdictions That Prevent Inspections128PARTIIIItem10.Directors, Executive Officers and Corporate Governance130Item11.Executive Compensation131Item12.Security Ownership of Certain Beneficial Owners and Management andRelated Stockholder Matters131Item13.Certain Relationships and Related Transactions, and Director Independence131Item14.Principal Accounting Fees and Services131PARTIVItem15.Exhibits, Financial Statement Schedules131