Based on the unaudited pro forma condensed combined financial information provided, there are significant changes in various metrics following the completion of the Merger, Financing Transactions, and the July 2025 Transactions.
First, looking at the balance sheet, the cash and cash equivalents have increased from $40,862 to $454,076 after the Financing Transactions, indicating a substantial inflow of cash into the company. Additionally, inventories, net of BlueHalo, increased from $78,816 to $254,090 after the Merger, reflecting the combined entity's expanded inventory holdings.
Moving to the income statement, the combined revenue of AeroVironment and BlueHalo after the transactions increased from $820,627 to $1,663,312. This significant increase in revenue is attributable to the combined sales and contract services of the two entities. However, the gross margin decreased from $318,636 to $422,038 after the transactions, which may be a result of increased costs associated with the expanded operations.
The net income (loss) also shows a substantial change, moving from $43,619 to a loss of $121,632 after the transactions, reflecting the impact of the Merger, Financing Transactions, and the July 2025 Transactions on the profitability of the combined entity.
The market has reacted to these announcements by moving the company's shares -9.8% to a price of $257.03. Check out the company's full 8-K submission here.
