The clearance of the protest by the GAO allows AeroVironment (NASDAQ:AVAV) to continue its work on the Switchblade contract without further legal impediments. This development is expected to be positively received by the market and stakeholders, as it solidifies the company's contractual commitments and supports its financial outlook in the coming years.
With revenue growth of 16.51% in the last twelve months, InvestingPro analysis suggests the company is currently overvalued relative to its Fair Value, though it maintains 17 additional key insights available to subscribers. With revenue growth of 16.51% in the last twelve months, InvestingPro analysis suggests the company is currently overvalued relative to its Fair Value, though it maintains 17 additional key insights available to subscribers.
The clearance of the protest by the GAO allows AeroVironment to continue its work on the Switchblade contract without further legal impediments. This development is expected to be positively received by the market and stakeholders, as it solidifies the company's contractual commitments and supports its financial outlook in the coming years.
With revenue growth of 16.51% in the last twelve months, InvestingPro analysis suggests the company is currently overvalued relative to its Fair Value, though it maintains 17 additional key insights available to subscribers.
AeroVironment's total backlog at the end of the most recent quarter stood at $2.3 billion, with a funded backlog of $467 million and an unfunded backlog of $1.83 billion. A notable increase in unfunded backlog, amounting to $1.7 billion quarter-over-quarter, was primarily attributed to the inclusion of $860 million from the recently upheld IDIQ contract and a $743 million ceiling increase on another significant Army IDIQ.
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