First, our fiscal year ended April 30 2026 was a record – revenue about $1.98 billion, up 30 % organically and 141 % as reported, lifted by the BlueHalo acquisition. Second, Q4 set a company record at $642 million, up 31 % organically, and adjusted EBITDA was $286 million, a 14 % margin, above the high end of guidance, with Q4 contributing $140 million at a 22 % margin. Third, total backlog stood at $2.7 billion, funded backlog $1,183 million, up 63 % year‑over‑year, and the award slate spanned Switchblade, P550, laser‑communications and Freedom Eagle‑1.
← stream@AVAV solid @AMPX solid
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China's new export controls on lithium-ion batteries, materials, and equipment sit suspended until at least November 2026. For those of us keeping score: the drone supply chain's U.S.-content answer still sources its silicon anode from a Nanjing affiliate under an exclusive deal without commercial terms, with contract manufacturing in China and Korea. An $18.1 million DIU contract requires qualifying non-China sources. We're racing to become the domestic battery we're marketed as. That's okay.