AeroVironment Inc (AVAV)

The data indicates that AeroVironment Inc’s days of sales outstanding (DSO) have experienced fluctuations over the period from April 2021 to April 2025. Specifically, the DSO increased from 124.11 days as of April 30, 2021, to 134.96 days as of April 30, 2022, reflecting a lengthening in the average collection period by approximately 10.85 days. This suggests a gradual elongation in the time it takes the company to collect receivables, which could be indicative of changes in credit policy, customer payment behavior, or broader market conditions.

Following this increase, the DSO slightly decreased to 130.52 days as of April 30, 2023, indicating a small improvement in collection efficiency during that period. However, this improvement was temporary, as the DSO then rose significantly to 137.39 days by April 30, 2024, surpassing earlier levels and indicating a further extension in the average collection period.

Most notably, by April 30, 2025, the DSO experienced a substantial spike to 206.53 days. This marked increase more than surpassed all previous figures, suggesting a significant deterioration in receivables collection efficiency. Such a sharp rise could be symptomatic of increased credit risk, customer payment delays, or potential changes in the company's credit policies or customer base that extended the collection cycle.

Overall, the trend demonstrates a general elongation of the collection period over the four-year span, with a particularly pronounced escalation in 2025. This pattern warrants further investigation to understand the underlying causes and assess the potential implications for the company's liquidity and working capital management.

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Apr 30, 2025