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Side-by-side financial comparison of AeroVironment Inc (AVAV) and Bio-Techne (TECH). Click either name above to swap in a different company.
AeroVironment Inc is the larger business by last-quarter revenue ($472.5M vs $295.9M, roughly 1.6× Bio-Techne). Bio-Techne runs the higher net margin — 12.8% vs -3.6%, a 16.5% gap on every dollar of revenue. On growth, AeroVironment Inc posted the faster year-over-year revenue change (181.9% vs -6.4%). Over the past eight quarters, AeroVironment Inc's revenue compounded faster (59.1% CAGR vs 4.2%).
AeroVironment, Inc., also known as AV, is an American defense technology company headquartered in Arlington, Virginia that designs and manufactures autonomous systems, counter-UAS systems, and space systems. The company was founded in 1971 by Paul B. MacCready Jr., a designer of human-powered aircraft. The company provides the US Department of Defense and foreign militaries with small and medium-sized drones—notably the Raven, Switchblade, Wasp, and Puma. Through its acquisition of BlueHalo i...
Bio-Techne Corporation is an American life sciences company that develops, manufactures and sells life science reagents, instruments and services for the research, diagnostic, and bioprocessing markets.
AVAV vs TECH — Head-to-Head
Income Statement — Q2 FY2026 vs Q2 FY2026
| Metric | | |
|---|---|---|
| Revenue | $472.5M | $295.9M |
| Net Profit | $-17.1M | $38.0M |
| Gross Margin | 22.0% | 64.6% |
| Operating Margin | -6.4% | 18.4% |
| Net Margin | -3.6% | 12.8% |
| Revenue YoY | 181.9% | -6.4% |
| Net Profit YoY | -875.1% | 68.3% |
| EPS (diluted) | $-0.34 | $0.24 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $472.5M | $295.9M | ||
| Q3 25 | $454.7M | — | ||
| Q2 25 | $275.1M | $317.0M | ||
| Q1 25 | $167.6M | $316.2M | ||
| Q4 24 | $188.5M | $297.0M | ||
| Q3 24 | $189.5M | $289.5M | ||
| Q2 24 | $197.0M | $306.1M | ||
| Q1 24 | $186.6M | $303.4M |
| Q4 25 | $-17.1M | $38.0M | ||
| Q3 25 | $-67.4M | — | ||
| Q2 25 | $16.7M | $-17.7M | ||
| Q1 25 | $-1.8M | $22.6M | ||
| Q4 24 | $7.5M | $34.9M | ||
| Q3 24 | $21.2M | $33.6M | ||
| Q2 24 | $6.0M | $40.6M | ||
| Q1 24 | $13.9M | $49.1M |
| Q4 25 | 22.0% | 64.6% | ||
| Q3 25 | 20.9% | — | ||
| Q2 25 | 36.5% | 62.7% | ||
| Q1 25 | 37.7% | 67.9% | ||
| Q4 24 | 39.1% | 65.3% | ||
| Q3 24 | 43.0% | 63.2% | ||
| Q2 24 | 38.4% | 66.4% | ||
| Q1 24 | 36.1% | 67.4% |
| Q4 25 | -6.4% | 18.4% | ||
| Q3 25 | -15.2% | — | ||
| Q2 25 | 5.0% | -7.5% | ||
| Q1 25 | -1.8% | 12.2% | ||
| Q4 24 | 3.7% | 16.0% | ||
| Q3 24 | 12.2% | 13.8% | ||
| Q2 24 | 3.0% | 15.0% | ||
| Q1 24 | 7.7% | 22.1% |
| Q4 25 | -3.6% | 12.8% | ||
| Q3 25 | -14.8% | — | ||
| Q2 25 | 6.1% | -5.6% | ||
| Q1 25 | -1.0% | 7.1% | ||
| Q4 24 | 4.0% | 11.7% | ||
| Q3 24 | 11.2% | 11.6% | ||
| Q2 24 | 3.1% | 13.3% | ||
| Q1 24 | 7.4% | 16.2% |
| Q4 25 | $-0.34 | $0.24 | ||
| Q3 25 | $-1.44 | — | ||
| Q2 25 | $0.59 | $-0.11 | ||
| Q1 25 | $-0.06 | $0.14 | ||
| Q4 24 | $0.27 | $0.22 | ||
| Q3 24 | $0.75 | $0.21 | ||
| Q2 24 | $0.18 | $0.26 | ||
| Q1 24 | $0.50 | $0.31 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $588.5M | $172.9M |
| Total DebtLower is stronger | $747.5M | $260.0M |
| Stockholders' EquityBook value | $4.4B | $2.0B |
| Total Assets | $5.6B | $2.5B |
| Debt / EquityLower = less leverage | 0.17× | 0.13× |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $588.5M | $172.9M | ||
| Q3 25 | $685.8M | — | ||
| Q2 25 | $40.9M | $162.2M | ||
| Q1 25 | $47.0M | $140.7M | ||
| Q4 24 | $69.0M | $177.5M | ||
| Q3 24 | $81.2M | $187.5M | ||
| Q2 24 | $73.3M | $152.9M | ||
| Q1 24 | $107.7M | $145.3M |
| Q4 25 | $747.5M | $260.0M | ||
| Q3 25 | $747.5M | — | ||
| Q2 25 | $30.0M | $346.0M | ||
| Q1 25 | $25.0M | $330.0M | ||
| Q4 24 | $15.0M | $300.0M | ||
| Q3 24 | $17.5M | $300.0M | ||
| Q2 24 | $28.0M | $319.0M | ||
| Q1 24 | $40.0M | $389.0M |
| Q4 25 | $4.4B | $2.0B | ||
| Q3 25 | $4.4B | — | ||
| Q2 25 | $886.5M | $1.9B | ||
| Q1 25 | $861.1M | $2.0B | ||
| Q4 24 | $858.4M | $2.1B | ||
| Q3 24 | $845.5M | $2.1B | ||
| Q2 24 | $822.7M | $2.1B | ||
| Q1 24 | $813.0M | $2.0B |
| Q4 25 | $5.6B | $2.5B | ||
| Q3 25 | $5.6B | — | ||
| Q2 25 | $1.1B | $2.6B | ||
| Q1 25 | $1.0B | $2.6B | ||
| Q4 24 | $1.0B | $2.7B | ||
| Q3 24 | $999.2M | $2.7B | ||
| Q2 24 | $1.0B | $2.7B | ||
| Q1 24 | $980.3M | $2.7B |
| Q4 25 | 0.17× | 0.13× | ||
| Q3 25 | 0.17× | — | ||
| Q2 25 | 0.03× | 0.18× | ||
| Q1 25 | 0.03× | 0.16× | ||
| Q4 24 | 0.02× | 0.14× | ||
| Q3 24 | 0.02× | 0.14× | ||
| Q2 24 | 0.03× | 0.15× | ||
| Q1 24 | 0.05× | 0.19× |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-45.1M | — |
| Free Cash FlowOCF − Capex | $-55.9M | — |
| FCF MarginFCF / Revenue | -11.8% | — |
| Capex IntensityCapex / Revenue | 2.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-240.7M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-45.1M | — | ||
| Q3 25 | $-123.7M | — | ||
| Q2 25 | $-264.0K | $98.2M | ||
| Q1 25 | $-25.8M | $41.1M | ||
| Q4 24 | $-3.6M | $84.3M | ||
| Q3 24 | $28.4M | $63.9M | ||
| Q2 24 | $-11.7M | $75.5M | ||
| Q1 24 | $52.6M | $81.0M |
| Q4 25 | $-55.9M | — | ||
| Q3 25 | $-146.5M | — | ||
| Q2 25 | $-8.8M | $93.3M | ||
| Q1 25 | $-29.6M | $31.0M | ||
| Q4 24 | $-8.7M | $77.5M | ||
| Q3 24 | $22.9M | $54.7M | ||
| Q2 24 | $-20.8M | $57.5M | ||
| Q1 24 | $48.8M | $64.5M |
| Q4 25 | -11.8% | — | ||
| Q3 25 | -32.2% | — | ||
| Q2 25 | -3.2% | 29.4% | ||
| Q1 25 | -17.7% | 9.8% | ||
| Q4 24 | -4.6% | 26.1% | ||
| Q3 24 | 12.1% | 18.9% | ||
| Q2 24 | -10.5% | 18.8% | ||
| Q1 24 | 26.1% | 21.3% |
| Q4 25 | 2.3% | — | ||
| Q3 25 | 5.0% | — | ||
| Q2 25 | 3.1% | 1.5% | ||
| Q1 25 | 2.3% | 3.2% | ||
| Q4 24 | 2.7% | 2.3% | ||
| Q3 24 | 2.9% | 3.2% | ||
| Q2 24 | 4.6% | 5.9% | ||
| Q1 24 | 2.0% | 5.4% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | -0.02× | — | ||
| Q1 25 | — | 1.82× | ||
| Q4 24 | -0.48× | 2.42× | ||
| Q3 24 | 1.34× | 1.90× | ||
| Q2 24 | -1.93× | 1.86× | ||
| Q1 24 | 3.79× | 1.65× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
AVAV
| Services | $130.2M | 28% |
| Cost Plus | $95.8M | 20% |
| Uncrewed Aircraft Systems | $89.8M | 19% |
| Space And Directed Energy | $53.2M | 11% |
| Non U.s.Government | $42.2M | 9% |
| TM | $31.9M | 7% |
| Other | $30.7M | 7% |
TECH
| Diagnostics And Spatial Biology | $81.2M | 27% |
| EMEA Excluding UK | $75.4M | 25% |
| Other | $42.4M | 14% |
| Instruments | $29.6M | 10% |
| APAC Excluding Greater China | $22.7M | 8% |
| Services | $22.3M | 8% |
| GB | $13.7M | 5% |
| Royalty | $8.5M | 3% |
