\nAEVEX Corp. (NYSE: AVEX) (“AEVEX” or the Company) announced results today for the three months ended June 30, 2026 (“Second Quarter 2026”).<\/p>\n
- \n
- \nTotal revenue of $201.8 million, up 99.5% from $101.1 million in Q2 2025<\/p>\n<\/li>\n
- \nNet Income of $6.7 million compared to a net loss of $11.8 million in Q2 2025<\/p>\n<\/li>\n
- \nAdjusted EBITDA* of $28.1 million compared to Adjusted EBITDA* of $3.6 million in Q2 2025<\/p>\n<\/li>\n
- \nAnnounced definitive agreement to acquire BlackSea Technologies to expand AEVEX\u2019s multi\u2011domain autonomous systems portfolio<\/p>\n<\/li>\n<\/ul>\n
Outlook for Full Year 2026<\/span><\/b><\/p>\n
- \n
- \nTotal revenue of $700.0 million to $720.0 million<\/p>\n<\/li>\n
- \nAdjusted EBITDA* of $105.0 million to $111.5 million<\/p>\n<\/li>\n<\/ul>\n
\n* See \u201cNon-GAAP Financial Measures\u201d below for an explanation of this measure. The Company is unable to provide a reconciliation for forward-looking outlook of Adjusted EBITDA to net income (loss), the most closely comparable GAAP measure without unreasonable effort, because certain material reconciling items cannot be estimated due to factors outside of the Company’s control and could have a material impact on the reported results. However, the Company estimates depreciation and amortization of approximately $21.7 million and net interest expense of approximately $11.5 million for the year ending December 31, 2026.<\/p>\n
\n\u201cOur second\u2011quarter results reflect the scale, momentum, and customer demand we\u2019re seeing across our autonomous systems portfolio. Near triple\u2011digit revenue growth, continued margin expansion, and strong execution across the business highlight the operational tempo our teams are delivering for customers,\u201d said Roger Wells, Chief Executive Officer of AEVEX. \u201cDemand signals for battle\u2011proven autonomous systems remain robust, and we continued to see customers prioritize providers who can deliver capability at scale and in operational environments today. Our CompassX\u2011enabled autonomy ecosystem and expanding production footprint position us well to support those needs.”<\/p>\n
\n\u201cThe announced acquisition of BlackSea is expected to further strengthen our position in a rapidly expanding market and reflects the disciplined capital deployment that underpins our strategy to build one of the most capable pure\u2011play autonomous systems providers in the industry.\u201d<\/p>\n
\n\u201cWith key programs ramping, a growing pipeline, and sustained momentum through the first half of the year, we are raising our full\u2011year outlook and entering the second half of 2026 with strong visibility. I\u2019m proud of our team\u2019s execution, and confident in our ability to continue delivering field\u2011relevant autonomous systems that help advance customer missions.\u201d<\/p>\n
\n\u201cIn the second quarter, AEVEX delivered balanced performance across both Tactical Systems and Global Solutions and continued our disciplined approach to deploying capital,\u201d said Todd Booth, Chief Financial Officer of AEVEX. \u201cThese results reflect disciplined execution, strong backlog conversion, and sustained demand supporting visibility as we move through the remainder of the year.\u201d<\/p>\n
\nTotal revenues increased to $201.8 million from $101.1 million, or by $100.7 million, for the three months ended June 30, 2026, compared to the same period in 2025. The increase is primarily due to $102.1 million of higher revenues in our Tactical Systems segment primarily from UAS products and support services (including $72.2 million from the EUCOM AOR Deep Strike program), which is offset by $1.8 million of lower revenue in our Global Solutions segment from aircraft modifications and testing products and services.<\/p>\n
\nFor the three months ended June 30, 2026, our net income (loss) increased to net income of $6.7 million and a net income margin of 3.3% from a net loss of $(11.8) million and a net loss margin of (11.7)%, or by $18.5 million, compared to the same period in 2025. The increase was primarily driven by a $26.1 million increase in products gross profit, a $3.1 million increase in services gross profit and a $1.6 million decrease in research and development expenses primarily for UAS products and services development activities. These favorable impacts were partially offset by a $13.1 million increase in selling, general and administrative expenses, primarily due to a $5.8 million increase in professional fees related to our IPO process, secondary offering and business acquisition, a $3.0 million increase in incentive compensation expense, a $2.1 million increase in new employee-related costs, and a $1.6 million increase in noncash stock compensation expense.<\/p>\n
\nFor the three months ended June 30, 2026, Adjusted EBITDA was $28.1 million and Adjusted EBITDA margin was 13.9%. This is compared to Adjusted EBITDA of $3.6 million and Adjusted EBITDA margin of 3.6% for the three months ended June 30, 2025. The increase was primarily driven by a $26.6 million increase in Tactical Systems Adjusted EBITDA as a result of the increase in products revenue and decrease in research and development expense for UAS products and services, which was partially offset by the increase in cost of products revenue and the increase in selling, general and administrative expenses for incentive compensation expense and new employee-related costs. In addition, the increase was also driven by a $1.8 million increase in Global Solutions Adjusted EBITDA, primarily due to decrease in selling, general, and administrative expenses, research and development expenses, and cost of products, which is partially offset by the decrease in revenue primarily from aircraft modifications and testing products.<\/p>\n
Segment Highlights<\/b><\/p>\n
\nWe measure the performance of our reportable segments based on total segment revenue and Segment Adjusted EBITDA. Our operating and reportable segments are Tactical Systems and Global Solutions. The following table presents total revenue by segment, Segment Adjusted EBITDA and Segment Adjusted EBITDA margin (in thousands):<\/p>\n
![\"Logo\"](\"https:\/\/mms.businesswire.com\/media\/20260812324409\/en\/2873643\/3\/Aevex-Logo-FullColor-RGB.jpg\"){kind=logo}
<\/td>\n<\/tr>\n