AEVEX secures a $41 million U.S. government award.
- The award is for AEVEX’s one-way attack systems, reflecting continued demand for its unmanned defense technology.
- Recently, AEVEX agreed to acquire BlackSea Technologies for up to $650 million, expanding its autonomous defense portfolio.
- The company’s Q2 revenue nearly doubled to $201.8 million.
AEVEX Corp. (AVEX) stock gained overnight after the defense technology company secured a $41 million award from U.S. government customers for one-way attack systems, adding to demand for its unmanned capabilities.
AEVEX stock traded nearly 4% higher overnight, ahead of Friday. However, the stock is on track for a weekly loss, with a 16% decline.
AEVEX Expands Demand For Autonomous Defense Systems
AEVEX’s new funding builds on ongoing demand for the company’s autonomous platforms and broadens its support for priority military operations.
“Our one-way attack capability has been shaped by real-world missions, and we remain committed to delivering what the warfighter needs, when they need it, at scale,” said Roger Wells, CEO, AEVEX.
The California-based company makes autonomous systems for challenging air and maritime missions. The award comes at a time the U.S. is placing importance on domestic drone production. Last week, President Donald Trump ordered new tariffs on imported drones and components.
The policy includes tariffs as high as 100% on certain larger drones, thermal-imaging systems and key parts. The administration says the measures aim to boost U.S. drone manufacturing, reduce reliance on foreign suppliers and strengthen national security.
On August 12, AEVEX said it agreed to acquire BlackSea Technologies for up to $650 million, combining their autonomous defense technologies across air, surface and subsea platforms. The combination will expand AEVEX’s maritime capabilities, customer base and U.S. manufacturing capacity.
AEVEX Revenue Nearly Doubles As Profit Improves
AEVEX reported a strong second quarter (Q2), with revenue nearly doubling to $201.8 million. The company swung to $6.7 million in net income from an $11.8 million loss, while adjusted EBITDA jumped to $28.1 million from $3.6 million.
Tactical Systems drove the growth, with revenue surging 141.6% to $174.2 million, mainly from higher unmanned aircraft systems product and support sales. The company reported $259.8 million in funded backlog as of June 30, and expects to recognize about 95.1% of the current backlog as revenue over the next 12 months.
AVEX Stock: Retail View
On Stocktwits, retail sentiment around the stock remained in ‘neutral’ territory.
A user said, “$AVEX what a dog. Thing should be over 25 now but is being held down by who the hell knows what. Strong earnings, growth is insane and yet, we’re flat…… makes sense.”
Another user said, “They are leading drone player with some of the best software out there. Yet even comprehensive research reports on the industry completely leave them off the list like they don’t exist.”
AVEX stock has cracked nearly 33% year-to-date.
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