AeroVironment (NASDAQ:AVAV) reported its Q2 results, with EPS of $0.00 coming in worse than the Street estimate of $0.20. Revenue was $111.6 million (down 9% year-over-year), missing the Street estimate of $113.43 million.

Top-line results were impacted by lower product sales and service revenue primarily due to decreases in SUAS (Small unmanned aircraft systems). The company highlighted $197 million in Q2/23 bookings, with a total backlog approaching approximately $400 million.

The company expects full-year EPS to be in the range of $1.26-$1.58, compared to the Street estimate of $1.57. Revenue is expected in the range of $505-525 million, compared to the Street estimate of $510.24 million.