Aevex Corp.'s (AVEX) stock surged 10.20% in extended trading, driven by the company's release of exceptionally strong first-quarter 2026 financial results that significantly exceeded market expectations.

The defense technology firm reported quarterly earnings of $0.22 per share, beating the consensus estimate of $0.17 by 29.4% and marking a dramatic turnaround from a loss of $0.31 per share in the same period last year. Revenue showed explosive growth, reaching $216.7 million, which surpassed expectations of $200.97 million and represented a staggering 307% year-over-year increase. The company swung to a net income of $21.0 million from a net loss of $27.3 million a year earlier.

Adding further fuel to the rally, Aevex provided robust full-year 2026 guidance, projecting revenue between $600 million and $620 million, above the FactSet consensus estimate of $585 million. In a separate announcement, the company disclosed it was awarded $15.6 million in contracts by the U.S. Air Force to support advanced unmanned aircraft mission capabilities, strengthening its defense portfolio and future revenue pipeline.