AeroVironment reported $1.46B of remaining performance obligations at 1 Aug 2026, up 37% from a year earlier and up 24% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.59.
Net new backlog added in the latest quarter: $282M.
Over the last twelve months it turned about 180% of its opening backlog into revenue (12-month conversion).
100% of the backlog is due within the next twelve months.
Customer prepayments (contract liabilities) cover 6.0% of the backlog.
Twelve-month book-to-bill: 1.20, i.e. 1.20 of new orders for every 1 of revenue recognised.
Backlog growth minus revenue growth: -48 points — revenue is catching up with orders.
By backlog size it ranks 209th among US filers the cockpit tracks.
AeroVironment backlog history
Remaining performance obligations at each quarter end (bars) against trailing twelve-month revenue (line).
Amounts in USD. Source: SEC XBRL filings.
Quarter end
Backlog (RPO)
TTM revenue
Coverage
Customer prepayments
1 Aug 2026
$1.46B
$2.00B
0.7 yrs
$87.5M
30 Apr 2026
$1.18B
$1.98B
0.6 yrs
$79.6M
31 Jan 2026
$1.12B
$1.61B
0.7 yrs
$67.5M
1 Nov 2025
$1.09B
$1.37B
0.8 yrs
$71.2M
2 Aug 2025
$1.07B
$1.09B
1.0 yrs
$61.3M
30 Apr 2025
$727M
$821M
0.9 yrs
$16.0M
25 Jan 2025
$764M
$743M
1.0 yrs
$12.1M
26 Oct 2024
$467M
$762M
0.6 yrs
$10.6M
27 Jul 2024
$373M
$754M
0.5 yrs
$11.0M
30 Apr 2024
$400M
$717M
0.6 yrs
$11.2M
27 Jan 2024
$463M
$706M
0.7 yrs
$17.5M
28 Oct 2023
$487M
$654M
0.7 yrs
$20.4M
Questions
What is AeroVironment's backlog?
AeroVironment reported $1.46B of remaining performance obligations at 1 Aug 2026, up 37% from a year earlier and up 24% from the previous quarter. That is 0.7 years of trailing revenue already under contract. Book-to-bill last quarter: 1.59.
How fast does AeroVironment's backlog turn into revenue?
Over the last twelve months AeroVironment recognised revenue equal to about 180% of the backlog it started each quarter with.
About these numbers
Remaining performance obligations (RPO) are revenue a company has contracted but not yet recognised, as reported in its SEC filings (XBRL tag RevenueRemainingPerformanceObligation). Coverage = backlog ÷ trailing twelve-month revenue. Book-to-bill = (change in backlog + revenue) ÷ revenue. Conversion = revenue recognised ÷ the backlog at the start of each quarter, summed over four quarters. Counterparty values come from company filings and releases.