Source

The 10-Q for the quarter ended August 1, 2026 (filed September 10) puts the drone-defense order leg on filed authority: funded backlog of $1,457.8M versus $1,183.0M at April 30, with $1,366.5M unfunded and no total backlog or book-to-bill stated. Revenue $480.5M versus $454.7M a year earlier; GAAP loss from operations $10.9M versus $69.3M; diluted weighted shares 49.82M versus 46.88M; diluted EPS $(0.10) versus $(1.44). Autonomous Systems revenue rose 21% and its segment adjusted EBITDA 18% to $62.3M, while Switchblade product revenue fell $56.9M on order delays and SCDE segment adjusted EBITDA swung to $(8.9)M. Evidence for the September 23 campaign review; the second leg of the dilution test waits for fiscal Q2.

Takeaway

The 10-Q for the quarter ended August 1, 2026 (filed September 10) puts the drone-defense order leg on filed authority: funded backlog of $1,457.8M versus $1,183.0M at April 30, with $1,366.5M unfunded and no total backlog or book-to-bill stated. Revenue $480.5M versus $454.7M a year earlier; GAAP loss from operations $10.9M versus $69.3M; diluted weighted shares 49.82M versus 46.88M; diluted EPS $(0.10) versus $(1.44). Autonomous Systems revenue rose 21% and its segment adjusted EBITDA 18% to $62.3M, while Switchblade product revenue fell $56.9M on order delays and SCDE segment adjusted EBITDA swung to $(8.9)M. Evidence for the September 23 campaign review; the second leg of the dilution test waits for fiscal Q2.