AEVEX (AVEX) Q2 2026 Earnings Call: Revenue Doubles, Guidance Raised, BlackSea Deal Announced
Source Tradingkey
Key Takeaways
- Q2 2026 revenue increased approximately 100% year over year to $201.8 million, primarily driven by higher unmanned aerial systems production under the EUCOM Deep Strike program.
- Net income was $6.7 million, compared with a net loss of $11.8 million in Q2 2025. Tactical Systems adjusted EBITDA margin reached 17.0%, while Global Solutions margin expanded about 700 basis points to 14.2%.
- AEVEX raised its FY2026 outlook to revenue of $700 million to $720 million and adjusted EBITDA of $105 million to $111.5 million. The guidance excludes the proposed BlackSea Technologies acquisition.
- AEVEX agreed to acquire BlackSea for total consideration of up to $650 million, including approximately $250 million in cash, $350 million in stock and a performance-based $50 million earn-out.
- BlackSea is expected to generate approximately $150 million in FY2026 revenue. It has more than $110 million of funded backlog and over $250 million of unfunded backlog.
- AEVEX’s opportunity pipeline expanded from $8.1 billion at the end of 2025 to approximately $10.5 billion, supported by product development, improved budget visibility and additional production capacity.
Key Financial Results
| Metric | Q2 2026 | Year-over-year change / context |
|---|---|---|
| Revenue | $201.8 million | Approximately +100% |
| Net income | $6.7 million | Versus a $11.8 million net loss in Q2 2025 |
| Tactical Systems revenue | $174.2 million | +142%, mainly driven by EUCOM Deep Strike |
| Tactical Systems adjusted EBITDA margin | 17.0% | Benefited from higher volume and production efficiencies |
| Global Solutions revenue | $27.6 million | -5%, reflecting the timing of an aircraft sale in Q2 2025 |
| Global Solutions adjusted EBITDA margin | 14.2% | Expanded approximately 700 basis points |
| Unit volumes | — | +114% |
| Trailing 12-month book-to-bill | 1.08x | Management expects full-year 2026 book-to-bill near 1.0x |
| Operating cash flow, first six months | $8.6 million | Versus $27.9 million used in the prior-year period |
| Cash at quarter-end | $215.2 million | Included net proceeds from the April IPO |
| Long-term debt | $99.1 million | AEVEX also had two undrawn credit facilities |
Business and Operating Performance
Disclaimer: For information purposes only. Past performance is not indicative of future results.
Recommended Articles
Oil prices surged 5% following direct Israel-Iran strikes, while gold tumbled below $4,300 as a blowout U.S. jobs report fueled intense market anxieties over a December Federal Reserve rate hike.
XRP (XRP) price trades near $1.05, caught between a year-long downtrend and a sudden burst of buying.July has historically rewarded XRP holders. This year the month arrives with on-chain accumulation
Intel Corporation (NASDAQ: INTC) sits at $140.05, holding firm on the ascending trendline within the 2H timeframe. The RSI indicator is currently reading 55.21, positioning it as neutral-
Gold holds above $4,350 following weak US jobs data. As inflation reports approach and UBS eyes $5,000, can XAUUSD break resistance at $4,435 to rally toward $4,500?
Gold Price Analysis Today: Gold Drops 1.32% Despite Lower Fed Rate-Hike Bets, Can $4,313 Support Hold?
Gold fell 1.32% on August 13 after rising to $4,449.73, then reversing lower and closing near $4,349.918 below the $4,356.46 support. Softer US inflation data reduced Fed rate hike expectations, but selling pressure still dominated the session. Will $4,313 support hold?
Gold fell 1.32% on August 13 after rising to $4,449.73, then reversing lower and closing near $4,349.918 below the $4,356.46 support. Softer US inflation data reduced Fed rate hike expectations, but selling pressure still dominated the session. Will $4,313 support hold?
