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Applied Aerospace & Defense Reports Second Quarter 2026 Financial Results

AADX
  • Applied Aerospace & Defense reported second quarter 2026 financial results ending June 30, 2026.
  • The company generated record revenue of $167.3 million, representing a 47.4% year-over-year increase.
  • The company incurred a net loss of $154.0 million, primarily driven by share-based compensation & transaction expenses related to its June 2026 IPO.
  • Adjusted EBITDA reached a record $36.4 million, up 38.5% year-over-year.
  • Contract backlog grew to over $1.1 billion, providing solid multi-year revenue visibility.
  • The company successfully completed a $683.0 million IPO, raising approximately $635.6 million in net proceeds via the sale of 34.2 million shares at $20.00 per share.
  • Revenue growth was driven by all three core markets: Space & Launch Systems ($38.8 million), Defense Aviation & Airborne Systems ($78.9 million), & C5ISR & Precision Strike Systems ($49.6 million).
  • Full year 2026 revenue is expected to be between $670 million & $690 million.
  • Full year 2026 non-GAAP Adjusted EBITDA is projected to be between $150 million & $155 million.
  • Pro forma net leverage was reduced to 2.7x following the IPO proceeds.