AEROVIRONMENT, INC.
Cash Flow Statement
| Line Item | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 |
|---|---|---|---|---|---|---|---|---|
| Operating Activities | ||||||||
| Net Income | $-265.1M | $43.6M | $59.7M | $-176.2M | $-4.2M | $23.3M | $41.1M | $47.4M |
| Depreciation & Amortization | $265.0M | $41.0M | $35.7M | $100.0M | $60.8M | $19.3M | $9.9M | $7.7M |
| Depreciation | $35.8M | $17.1M | $17.1M | $41.8M | $30.5M | $12.8M | $7.1M | $7.3M |
| Amortization | $204.0M | $23.4M | $18.0M | $58.1M | $26.6M | $6.5M | $2.8M | $357.0K |
| Stock-Based Compensation | $38.3M | $21.5M | $17.1M | $10.8M | $5.4M | $6.9M | $6.2M | $7.0M |
| Net Cash from Operating Activities | $-78.4M | $-1.3M | $15.3M | $11.4M | $-9.6M | $86.5M | $25.1M | $26.9M |
| Investing Activities | ||||||||
| Capital Expenditures | $62.5M | $19.5M | $23.0M | $14.9M | $22.3M | $11.3M | $11.2M | $8.9M |
| Business Acquisitions | — | — | — | — | — | — | — | — |
| Net Cash from Investing Activities | $-1.23B | $-28.5M | $-51.7M | $-7.0M | $-52.3M | $-378.8M | $59.2M | — |
| Financing Activities | ||||||||
| Dividends Paid | — | — | — | — | — | — | — | — |
| Stock Repurchases | — | — | — | — | — | — | — | — |
| Net Cash from Financing Activities | $1.65B | $-2.9M | $-22.9M | $50.8M | $-16.6M | $194.2M | $-1.8M | $-1.2M |
| Net Change in Cash | $336.5M | $-32.4M | $-59.6M | $55.6M | $-79.8M | $-98.1M | $82.4M | $29.2M |
| Free Cash Flow | $-140.9M | $-20.9M | $-7.7M | $-3.5M | $-31.9M | $75.3M | $13.9M | $18.1M |
Abnormally good or abnormally bad conditions do not last forever.