Aug 13, 2026 earnings call — Blue UAS certification and RQ-70 unveiling
Q2 revenue was $43.2 million, ahead of expectations, and Drone backlog grew to roughly $163 million.
Revenue $0.0B (est $0.0B) · EPS $-0.06 (est $-0.30)
Key quotes
"One such milestone on our product side, and one that I'm especially pleased to highlight, is that our RQ-35 drone is now officially Blue UAS certified."
"As of June 30, 2026, we had roughly $163 million in drone backlog."
"I am also happy to report that AIRO-specific costs for development are running below our internal expectations by a low double-digit percent."
Analyst Q&A 2
Drone orders and RQ-70 interest
Q (Colin Canfield · Cantor Fitzgerald): He asked to parse U.S. versus international orders for the RQ-35, what milestones would increase reported backlog, and whether there is early customer interest for the RQ-70.
A: They said the $163 million backlog is international only and does not currently include any U.S. backlog. They expect the majority of that backlog will convert into revenue over the next 12 months and some of it extends into 2027; the backlog is mostly RQ-35 with a very small percentage of RQ-70. They also said U.S. RFQs are active and that Blue UAS certification plus the RQ-70 launch are key milestones; early customer interest in the RQ-70 has been very strong.
"So our $163 million backlog represents international drone backlog and does not currently include any U.S. backlog." — Mariya Pylypiv (CFO)
Ukraine JVs and Training decision timing
Q (Andre Madrid · U.S. Bancorp BTIG): He asked for an update on the NORD and Bullet joint ventures and an update on the process and timing for strategic alternatives for the Training business.
A: They said the Ukrainian government has largely stopped licensing of aircraft and technology transfers due to its current battle condition, which is causing permit issues for the JVs, and AIRO is working with counsel to secure permits. They emphasized they are not dependent on any one JV, are evaluating additional partnerships, and see these JVs as a way to expand market access. On Training, they plan to have decisions by year-end, are actively evaluating a range of strategic options, and see limited synergies between Training and the core drone and avionics business.
"You know, in their current battle condition, the government there is pretty much stopped all licensing of aircraft coming into the U.S. or technology transfers." — Joseph Burns (CEO)