AeroVironment reported a robust second quarter of fiscal 2025 (QQ2 2025) with revenue of $188.46 million, a new quarterly record and up 4.2% year over year. The strength was driven primarily by the Loitering Munition Systems (LMS) segment, which posted $77.7 million in revenue, a 157% YoY increase, underscoring the strong demand for Switchblade variants and the stabilization of the UCAS awards. The Uncrewed Systems (UxS) segment delivered approximately $85.4 million in revenue, but was down 36% YoY largely due to a sharp drop in Ukraine-related sales, highlighting AVAV’s ongoing strategic pivot to diversify revenue sources away from Ukraine exposure. MacCready Works contributed $25.3 million, with HAPS-related activity fueling top-line growth in that segment.