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Applied Aerospace & Defense, Inc.

Applied Aerospace & Defense, Inc. designs, engineers, and manufactures integrated aerospace and defense subsystems for space and defense applications. The company provides Space and launch Systems, which include propellant tanks and engine nozzles; nose cones, fairings, and payload adapters; solar arrays and deployable systems; satellite bus and payload assemblies; Spinnaker® de-orbit systems; antennas and precision platforms; and landing legs, tubes, and booms; Defense Aviation and Airborne Systems, which support airborne mission platforms for air dominance, ground attack, electronic warfare, air-to-air refueling, transport, and autonomous collaborative combat, and include wings and control surfaces, landing gear and arresters, engine shafts, gears, and transmissions; fuel tanks and refueling booms; and fuselage structures; C5ISR and Precision Strike Systems, which support land and maritime based integrated defense systems for intelligence, surveillance, reconnaissance, forward presence, and stand-off missions, and include radar and communications antennas; missile bodies and launchers; directed energy systems; and electronic enclosures; detection and tracking platforms; and maritime sensors and propulsion. It also provides design, prototyping and manufacturing of hardware and assemblies using composite, metallic, and polymer manufacturing. The company uses IP-enabled processes and production supported by specialized equipment and experience. It offers in-house testing and inspection along with materials and testing services to support performance and verification requirements. The company also provides Spinnaker® Deorbit Systems with configurations for satellites and launch vehicle components to support de-orbit applications. The company was formerly known as GB Eagle Topco, Inc. and changed its name to Applied Aerospace & Defense, Inc. in November 2025. Applied Aerospace & Defense, Inc. was incorporated in 2022 and is headquartered in Huntsville, Alabama. Applied Aerospace & Defense, Inc. is a subsidiary of AA

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Aerospace and defense PE exit value already beat last year's total

The total exit value of PE-backed companies in the aerospace and defense sector has already surpassed last year's total, jumping from $17.7 billion at year-end 2025 to $26.8 billion in the first half of 2026, according to PitchBook's Q2 2026 Aerospace and Defense Report. The market was carried by five major public listings in the sector, compared with zero in Q2 2025. The largest was the June listing of DPC Holdings, a UK-headquartered specialist manufacturer of metal parts for jet engines, which valued the business at $4.9 billion, providing an exit for J.F. Lehman & Company. Other top IPOs include the $3.4 billion listing of Global Medical Response, the $3.4 billion debut of Applied Aerospace & Defense, and a $2.2 billion exit for Aevex. The sector's success in exiting provides relief to an asset class with a logjam of aging portfolio companies, as private equity managers sit on over $860 billion in buyout NAV concentrated in funds that are seven years or older. In aerospace and defense, the quarter saw an exit count of 27, up 17.4% quarter-over-quarter and 22.7% year-over-year, while total deal count rose 10.9% quarter-over-quarter but deal value fell to $6.5 billion from $11.1 billion.
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Applied Aerospace & Defense Shares Slide After Disappointing First Earnings Report

Applied Aerospace & Defense shares fell nearly 15% this week after the company's first quarterly earnings report as a publicly traded company missed analyst bottom-line estimates. The company posted revenue of just over $167 million, up 47% year over year, but its GAAP net loss deepened to almost $154 million, or $1.04 per share, from under $4.7 million a year earlier, mainly due to share-based compensation and IPO transaction costs. That compared with a consensus analyst estimate of a $0.01 per share loss. Applied Aerospace also issued full-year guidance of $670 million to $690 million in revenue and $150 million to $155 million in adjusted EBITDA. The company said its space and launch systems segment revenue rose almost 60% to $38.8 million on increased business with SpaceX and Blue Origin, while its CISR and precision strike systems segment revenue more than quadrupled to almost $50 million and its defense aviation and airborne systems segment revenue inched up 5% to nearly $79 million.
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Applied Aerospace & Defense Posts Record Q2 Revenue, Backlog

Applied Aerospace & Defense reported record second-quarter revenue of $167.3 million, up 47.4% year over year, driven by growth across all three core end markets and contributions from the CBI acquisition. Pro forma revenue growth was 21.3%, and adjusted EBITDA rose 38.5% to $36.4 million. The company posted a net loss of $154.0 million, primarily due to $110 million in share-based compensation from accelerated vesting of equity units at the IPO and other transaction costs. Contract backlog reached a record $1.13 billion, up from $871 million at the end of the prior fiscal year, providing visibility into 2027 and 2028. Full-year 2026 revenue guidance is $670 million to $690 million, with adjusted EBITDA expected between $150 million and $155 million.
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