AstroNova Reports Fourth-Quarter and Full-Year Fiscal 2026 Financial Results
- Fourth quarter revenue of $37.5 million and fiscal 2026 revenue of $150.5 million, in line with guidance
- Fourth quarter net loss was $1.1 million, or $0.15 per diluted share; adjusted EBITDA1 was $3.3 million, or 8.8% of sales
- Product Identification turnaround gaining momentum with well-defined go-to-market and operations strategies
- Total orders in the quarter were up 6.5% to $41.1 million
- Generated $3.7 million of operating cash in the quarter and $11.7 million for the full year, compared with $2.5 million and $4.8 million in the prior periods, respectively
- Strengthened balance sheet with debt reduced by $2.7 million in the quarter and $9.1 million in fiscal 2026
- Previously announced evaluation of strategic alternatives
WEST WARWICK, R.I.--(BUSINESS WIRE)-- AstroNova, Inc. (Nasdaq: ALOT), a leading innovator in specialized print technology solutions, today announced financial results for its fiscal 2026 fourth quarter and full-year ended January 31, 2026.
Jorik Ittmann, President and Chief Executive Officer of AstroNova, stated, "The second half of fiscal 2026 was a reset period for AstroNova. As we began the year, we recognized that the changes we were making in the business would begin to be realized with a stronger second half. Our focus was on stabilizing the business and ending the year having generated more cash, reduced debt, and raised accountability across both segments. Our Aerospace business delivered a strong performance, with ToughWriter now representing more than 80% of total flight deck printer shipments, positioning us well as aircraft build rates increase.
“In Product ID, we provide label printing solutions that address the needs of three key verticals: healthcare/life sciences, industrial and chemical industries. In these markets our labels are a component of customers’ products and are critical to their success. Our restructuring efforts are being realized through improving commercial momentum in these verticals. We have employed more robust analytics to understand our customers and markets and are better directing our resources to drive growth. This includes continuing to evolve the team, putting the right talent in the correct roles, and recognizing where and why we can win. We expect this focus of our resources where we have competitive advantages will lead to stronger, more profitable growth."
Mr. Ittmann added, "Looking ahead to fiscal 2027, we expect Aerospace to deliver measured growth, supported by rising aircraft production, a favorable product mix, and the expiration of a major royalty obligation during the third quarter of the year that negatively impacts gross margin on an annualized basis by approximately $2 million. In Product ID, we are focused on converting our commercial pipeline into consistent revenue growth while strengthening operational performance. We believe we can create greater value for our shareholders with our enhanced product offerings, go-to-market strategy and operational restructuring. Importantly, we will evaluate all strategic alternatives to achieve this goal."
Fourth Quarter Fiscal 2026 Overview1 (comparisons are to the prior-year period unless noted otherwise) |
|||||||||||||||||||||||
| Three Months Ended | 2H Fiscal 2026 compared with 1H Fiscal 2026 | ||||||||||||||||||||||
| January 31, 2026 |
January 31, 2025 |
$ Variance |
% Variance |
2H FY26 | 1H FY26 | $ Variance |
% Variance |
||||||||||||||||
| Revenue | $ |
37,536 |
$ |
37,361 |
$ |
175 |
0.5% |
$ |
76,705 |
$ |
73,810 |
$ |
2,895 |
3.9% |
|||||||||
| Gross Profit | $ |
11,325 |
$ |
12,226 |
$ |
(901) |
(7.4)% |
$ |
24,769 |
$ |
22,865 |
$ |
1,902 |
8.3% |
|||||||||
| Gross Profit Margin |
|
30.2% |
|
32.7% |
|
32.3% |
|
31.0% |
|||||||||||||||
| Non-GAAP Gross Profit | $ |
11,903 |
$ |
12,289 |
$ |
(386) |
(3.1)% |
$ |
25,707 |
$ |
23,264 |
$ |
2,444 |
10.5% |
|||||||||
| Non-GAAP Gross Profit Margin |
|
31.7% |
|
32.9% |
|
33.5% |
|
31.5% |
|||||||||||||||
| Operating Income (Loss) | $ |
56 |
$ |
(12,311) |
$ |
12,367 |
(100.5)% |
$ |
1,342 |
$ |
(137) |
$ |
1,479 |
N/A |
|||||||||
| Operating Margin |
|
0.1% |
|
(33.0)% |
|
1.7% |
|
(0.2)% |
|||||||||||||||
| Non-GAAP Operating Income | $ |
1,124 |
$ |
1,408 |
$ |
(284) |
(20.2)% |
$ |
3,688 |
$ |
1,906 |
$ |
1,781 |
93.4% |
|||||||||
| Non-GAAP Operating Income Margin |
|
3.0% |
|
3.8% |
|
4.8% |
|
2.6% |
|||||||||||||||
| Net Income (Loss) | $ |
(1,134) |
$ |
(15,600) |
$ |
14,466 |
(92.7)% |
$ |
(756) |
$ |
(1,620) |
$ |
864 |
53.3% |
|||||||||
| Non-GAAP Net Income (Loss) | $ |
(305) |
$ |
419 |
$ |
(724) |
(172.7)% |
$ |
1,277 |
$ |
(59) |
$ |
1,336 |
N/A |
|||||||||
| Adjusted EBITDA | $ |
3,306 |
$ |
2,794 |
$ |
512 |
18.3% |
$ |
7,478 |
$ |
5,202 |
$ |
2,276 |
43.7% |
|||||||||
| Adjusted EBITDA Margin |
|
8.8% |
|
7.5% |
|
9.7% |
|
7.0% |
|||||||||||||||
| ______________________________ |
1 Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP operating income, Non-GAAP operating income margin, Non-GAAP net income, adjusted EBITDA and adjusted EBITDA margin are Non-GAAP financial measures. Refer to the reconciliation of GAAP to non-GAAP measures in the tables that accompany this news release. |
Compared with the prior-year period, revenue increased $0.2 million as growth in Product ID slightly exceeded lower Aerospace revenue. Tariff mitigation contributed $0.6 million in revenue and foreign currency translation was a $0.8 million benefit in the quarter.
As a result of lower volume and mix, gross profit decreased $0.9 million, or 7.4%, and gross margin contracted 250 basis points compared with the prior-year period. On an adjusted basis, gross margin contracted 120 basis points from the prior-year period to 32.9%.
Operating expenses in the quarter were $11.3 million down from $25.0 million in the prior-year period. The prior year period included a goodwill impairment charge of $13.4 million. Operating income for the quarter was $56 thousand compared with operating loss of $12.3 million in the prior-year period, while non-GAAP operating income was $1.1 million, down $0.3 million compared with the prior-year period.
Interest expense of $0.9 million was nominally unchanged from the prior-year period. Net loss of $1.1 million, or $0.15 per share, compared with net loss of $15.6 million in the prior-year period, which included a goodwill impairment charge of $13.4 million. Non-GAAP net loss was $0.3 million, or $0.04 per share. Adjusted EBITDA was $3.3 million and Adjusted EBITDA margin was 8.8%.
Beginning in the fourth quarter of fiscal 2026, the Company revised its segment reporting methodology to allocate related general and administrative expenses directly to the reportable segments, Product Identification and Aerospace. Management believes this change better reflects the true operating performance of each segment. Prior period segment results have been recast to reflect this change. The impact of this reallocation on segment operating income is presented in the segment tables that follow.
Product Identification (Product ID) Segment Review
Product ID revenue was $26.3 million for the fourth quarter of fiscal 2026, up 2.5%, or $0.7 million, compared with the prior year. Aftermarket revenue remained strong, representing approximately 80% of total segment sales.
Product ID segment operating loss was $0.2 million, an improvement from the segment operating loss of $13.1 million in the prior-year period which included the previously mentioned goodwill impairment charge. Non-GAAP segment operating loss was $0.1 million, or -0.5% of revenue.
Aerospace Segment Review
Aerospace segment revenue was $11.2 million in the fiscal 2026 fourth quarter, a decrease of 4.1%, or $0.5 million from the prior-year, primarily as a result of the timing of projects.
Despite lower sales, Aerospace segment operating profit was $2.3 million, up $0.5 million, or 24.0%, over the prior-year period as a result of improved mix.
Balance Sheet and Cash Flow
Cash from operations in the fourth quarter of fiscal 2026 was $3.7 million and was $11.7 million year to date. The improvement in cash generation in the quarter was primarily the result of reduced working capital requirements, primarily due to lower inventory.
Capital expenditures in the quarter were $139 thousand and $332 thousand for fiscal 2026 compared with $79 thousand and $1.2 million, respectively, in the prior year.
Cash at the end of the fourth quarter of fiscal 2026 was $4.1 million, down $0.9 million from the end of fiscal 2025. Debt as of January 31, 2026 was $37.6 million compared with $46.7 million as of January 31, 2025.
Bookings and Backlog by Segment
Orders in the quarter for the Product ID segment were $27.5 million, up $2.9 million compared with the prior-year period as the Company’s new go-to-market strategy gained traction. The book-to-bill ratio for the segment was 104% and backlog at the end of fiscal 2026 was $13.5 million.
Orders in the quarter for the Aerospace segment were $13.6 million for a book-to-bill ratio of 122% reflecting demand from OEMs for new-build aircraft. Backlog at the end of fiscal 2026 was $12.0 million.
Fiscal 2027 Outlook
“We are making solid progress with the improvement in our Product ID segment and are delivering on the potential of the Aerospace segment. As noted previously, a major royalty obligation for Aerospace will expire in the third quarter this year that will provide an annualized contribution to gross profit of approximately $2 million beginning in the fourth quarter. We are encouraged with our progress and believe we are creating greater opportunity for the business,” concluded Mr. Ittmann.
For fiscal 2027, AstroNova expects mid-single digit revenue growth and expanded adjusted EBITDA margin.
Earnings Conference Call Information
AstroNova will host a conference call and webcast at 8:30 a.m. ET on Tuesday, April 14, 2026, to review financial and operating results for the fourth quarter and full year of fiscal 2026. A question and answer session will follow.
To access the conference call, please dial (201) 689-8560 or find the webcast and accompanying slide presentation at https://investors.astronovainc.com/investors/events-and-presentations/default.aspx.
A telephonic replay will be available from 12:00 p.m. ET on the day of the call through Tuesday, April 28, 2026. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13759000. The webcast replay will be available on the Investor Relations section of the Company’s website where a transcript will be posted once available.
About AstroNova, Inc.
AstroNova (Nasdaq: ALOT) is a global provider of printing technologies serving regulated and industrial markets. The Company designs, manufactures, distributes, and services solutions that enable customers to identify, track, and communicate essential product and safety information across a wide range of applications and media. AstroNova supports customers by enabling safety, accuracy and durability for flight deck communications, medical device and healthcare products, essential chemical products, and mission-critical industrial components, while ensuring compliance with local and regional regulatory requirements.
The Product Identification segment delivers end-to-end marking and identification solutions, including hardware, software, and consumables for OEMs, commercial printers, and brand owners. These solutions are used across labels, flexible packaging, corrugated, and industrial substrates, where durability, traceability, and compliance are essential. The Aerospace segment is a global leader in providing products designed for airborne printing solutions, avionics, and data acquisition, including flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. For more information please visit: www.astronovainc.com.
Use of Non-GAAP Financial Measures
In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release contains the Non-GAAP financial measures: Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP operating expenses, Non-GAAP operating income, Non-GAAP operating income margin, Non-GAAP net income (loss), Non-GAAP net income per Common Share - diluted, Non-GAAP segment gross profit, Non-GAAP segment gross profit margin, Non-GAAP segment operating income, Non-GAAP segment operating margin, Adjusted EBITDA and Adjusted EBITDA Margin. AstroNova believes that the inclusion of these Non-GAAP financial measures helps investors gain a meaningful understanding of changes in the Company’s core operating results and can help investors who wish to make comparisons between AstroNova and other companies on both a GAAP and a Non-GAAP basis. AstroNova’s management uses these Non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. These measures are also used by the Company’s management to assist with their financial and operating decision-making. Please refer to the financial reconciliation table included in this news release for a reconciliation of the Non-GAAP measures to the most directly comparable GAAP measures for the three months ended January 31, 2026 and 2025 as well as the years ended January 31, 2026 and 2025.
Forward-Looking Statements
Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect our current expectations concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) the risk that our efforts to improve sales in our Product Identification segment may not result in the benefits we expect, (ii) the risk that our Aerospace customers may not continue to convert to our ToughWriter® printer in the volumes or on the schedule that we expect; (iii) the risk that we may not realize the anticipated benefits of our next-generation print engine technology; and (iv) those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.
| ASTRONOVA, INC. | |||||||||||||||
| Condensed Consolidated Statements of Income (Loss) | |||||||||||||||
(In thousands, except per share data) |
|||||||||||||||
(Unaudited) |
|||||||||||||||
| Three Months Ended | |||||||||||||||
| January 31, 2026 |
January 31, 2025 |
$ Variance | % Variance | ||||||||||||
| Revenue | $ |
37,536 |
|
$ |
37,361 |
|
$ |
175 |
|
0.5 |
% |
||||
| Cost of Revenue |
|
26,211 |
|
|
25,135 |
|
|
1,076 |
|
4.3 |
% |
||||
| Gross Profit |
|
11,325 |
|
|
12,226 |
|
|
(901 |
) |
(7.4 |
)% |
||||
| Total Gross Profit Margin |
|
30.2 |
% |
|
32.7 |
% |
|||||||||
| Operating Expenses: | |||||||||||||||
| Selling & Marketing |
|
5,642 |
|
|
6,097 |
|
|
(455 |
) |
(7.5 |
)% |
||||
| Research & Development |
|
1,797 |
|
|
1,617 |
|
|
180 |
|
11.1 |
% |
||||
| General & Administrative |
|
3,830 |
|
|
3,420 |
|
|
410 |
|
12.0 |
% |
||||
| Goodwill Impairment |
|
— |
|
|
13,403 |
|
|
(13,403 |
) |
(100.0 |
)% |
||||
| Total Operating Expenses |
|
11,269 |
|
|
24,537 |
|
|
(13,268 |
) |
(54.1 |
)% |
||||
| Operating Income (Loss) |
|
56 |
|
|
(12,311 |
) |
|
12,367 |
|
(100.5 |
)% |
||||
| Total Operating Margin |
|
0.1 |
% |
|
(33.0 |
)% |
|||||||||
| Interest Expense |
|
894 |
|
|
847 |
|
|
47 |
|
5.5 |
% |
||||
| Other (Income)/Expense, net |
|
(51 |
) |
|
100 |
|
|
(151 |
) |
(151.0 |
)% |
||||
| Income (Loss) Before Taxes |
|
(788 |
) |
|
(13,258 |
) |
|
12,470 |
|
(94.1 |
)% |
||||
| Income Tax Provision (Benefit) |
|
346 |
|
|
2,342 |
|
|
(1,996 |
) |
(85.2 |
)% |
||||
| Net Income (Loss) | $ |
(1,134 |
) |
$ |
(15,600 |
) |
$ |
14,466 |
|
(92.7 |
)% |
||||
| Net Income (Loss) per Common Share - Basic | $ |
(0.15 |
) |
$ |
(2.07 |
) |
|||||||||
| Net Income (Loss) per Common Share - Diluted | $ |
(0.15 |
) |
$ |
(2.07 |
) |
|||||||||
| Weighted Average Number of Common Shares - Basic |
|
7,653 |
|
|
7,534 |
|
|||||||||
| Weighted Average Number of Common Shares - Diluted |
|
7,653 |
|
|
7,534 |
|
|||||||||
| Twelve Months Ended | |||||||||||||||
| January 31, 2026 |
January 31, 2025 |
$ Variance | % Variance | ||||||||||||
| Revenue | $ |
150,515 |
|
$ |
151,283 |
|
$ |
(768 |
) |
(0.5 |
)% |
||||
| Cost of Revenue |
|
102,881 |
|
|
100,625 |
|
|
2,256 |
|
2.2 |
% |
||||
| Gross Profit |
|
47,634 |
|
|
50,658 |
|
|
(3,024 |
) |
(6.0 |
)% |
||||
| Total Gross Profit Margin |
|
31.6 |
% |
|
33.5 |
% |
|||||||||
| Operating Expenses: | |||||||||||||||
| Selling & Marketing |
|
22,963 |
|
|
24,252 |
|
|
(1,289 |
) |
(5.3 |
)% |
||||
| Research & Development |
|
6,788 |
|
|
6,047 |
|
|
741 |
|
12.3 |
% |
||||
| General & Administrative |
|
16,380 |
|
|
15,596 |
|
|
784 |
|
5.0 |
% |
||||
| Goodwill Impairment |
|
297 |
|
|
13,403 |
|
|
(13,106 |
) |
(97.8 |
)% |
||||
| Total Operating Expenses |
|
46,428 |
|
|
59,298 |
|
|
(12,870 |
) |
(21.7 |
)% |
||||
| Operating Income (Loss) |
|
1,206 |
|
|
(8,640 |
) |
|
9,846 |
|
(114.0 |
)% |
||||
| Total Operating Margin |
|
0.8 |
% |
|
(5.7 |
)% |
|||||||||
| Interest Expense |
|
3,503 |
|
|
3,210 |
|
|
293 |
|
9.1 |
% |
||||
| Other (Income)/Expense, net |
|
239 |
|
|
437 |
|
|
(198 |
) |
(45.3 |
)% |
||||
| Income (Loss) Before Taxes |
|
(2,536 |
) |
|
(12,287 |
) |
|
9,751 |
|
(79.4 |
)% |
||||
| Income Tax Provision (Benefit) |
|
(160 |
) |
|
2,202 |
|
|
(2,362 |
) |
(107.3 |
)% |
||||
| Net Income (Loss) | $ |
(2,376 |
) |
$ |
(14,489 |
) |
$ |
12,113 |
|
(83.6 |
)% |
||||
| Net Income (Loss) per Common Share - Basic | $ |
(0.31 |
) |
$ |
(1.93 |
) |
|||||||||
| Net Income (Loss) per Common Share - Diluted | $ |
(0.31 |
) |
$ |
(1.93 |
) |
|||||||||
| Weighted Average Number of Common Shares - Basic |
|
7,614 |
|
|
7,509 |
|
|||||||||
| Weighted Average Number of Common Shares - Diluted |
|
7,614 |
|
|
7,509 |
|
|||||||||
ASTRONOVA, INC. |
||||||||
Condensed Consolidated Balance Sheets |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
| January 31, 2026 |
January 31, 2025 |
|||||||
| ASSETS | ||||||||
| CURRENT ASSETS | ||||||||
| Cash and Cash Equivalents | $ |
4,072 |
|
$ |
5,050 |
|
||
| Accounts Receivable, net |
|
18,985 |
|
|
21,218 |
|
||
| Inventories, net |
|
43,252 |
|
|
47,894 |
|
||
| Prepaid Expenses and Other Current Assets |
|
4,395 |
|
|
3,855 |
|
||
| Total Current Assets |
|
70,704 |
|
|
78,017 |
|
||
| PROPERTY, PLANT AND EQUIPMENT |
|
40,400 |
|
|
58,613 |
|
||
| Less Accumulated Depreciation |
|
(26,272 |
) |
|
(42,820 |
) |
||
| Property, Plant and Equipment, net |
|
14,128 |
|
|
15,793 |
|
||
| OTHER ASSETS | ||||||||
| Identifiable Intangibles, net |
|
21,496 |
|
|
23,519 |
|
||
| Goodwill |
|
17,376 |
|
|
16,361 |
|
||
| Deferred Tax Assets, net |
|
9,831 |
|
|
8,431 |
|
||
| Right of Use Asset |
|
2,466 |
|
|
1,781 |
|
||
| Other Assets |
|
1,565 |
|
|
1,693 |
|
||
| TOTAL ASSETS | $ |
137,566 |
|
$ |
145,595 |
|
||
| LIABILITIES AND SHAREHOLDERS’ EQUITY | ||||||||
| CURRENT LIABILITIES | ||||||||
| Accounts Payable | $ |
6,806 |
|
$ |
7,928 |
|
||
| Accrued Compensation |
|
4,390 |
|
|
3,745 |
|
||
| Other Accrued Expenses |
|
4,702 |
|
|
4,461 |
|
||
| Revolving Line of Credit |
|
16,273 |
|
|
20,929 |
|
||
| Current Portion of Long-Term Debt |
|
3,033 |
|
|
6,110 |
|
||
| Short-Term Debt |
|
- |
|
|
581 |
|
||
| Current Liability – Royalty Obligation |
|
1,656 |
|
|
1,358 |
|
||
| Current Liability – Excess Royalty Payment Due |
|
331 |
|
|
691 |
|
||
| Income Taxes Payable |
|
691 |
|
|
- |
|
||
| Deferred Revenue |
|
489 |
|
|
543 |
|
||
| Total Current Liabilities |
|
38,371 |
|
|
46,346 |
|
||
| NON-CURRENT LIABILITIES | ||||||||
| Long-Term Debt, net of current portion |
|
18,295 |
|
|
19,044 |
|
||
| Lease Liabilities, net of current portion |
|
1,953 |
|
|
1,535 |
|
||
| Grant Deferred Revenue |
|
899 |
|
|
1,090 |
|
||
| Royalty Obligation, net of current portion |
|
145 |
|
|
1,106 |
|
||
| Income Tax Payables |
|
800 |
|
|
684 |
|
||
| Deferred Tax Liabilities |
|
- |
|
|
40 |
|
||
| Other Long-Term Liability |
|
241 |
|
|
- |
|
||
| TOTAL LIABILITIES |
|
60,704 |
|
|
69,845 |
|
||
| SHAREHOLDERS’ EQUITY | ||||||||
| Common Stock |
|
554 |
|
|
547 |
|
||
| Additional Paid-in Capital |
|
66,329 |
|
|
64,215 |
|
||
| Retained Earnings |
|
47,004 |
|
|
49,380 |
|
||
| Treasury Stock |
|
(35,227 |
) |
|
(35,043 |
) |
||
| Accumulated Other Comprehensive Loss, net of tax |
|
(1,798 |
) |
|
(3,349 |
) |
||
| TOTAL SHAREHOLDERS’ EQUITY |
|
76,862 |
|
|
75,750 |
|
||
| TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY | $ |
137,566 |
|
$ |
145,595 |
|
||
ASTRONOVA, INC. |
||||||||
Condensed Consolidated Statements of Cash Flow – Three Months |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
| Three Months Ended | ||||||||
| January 31, 2026 | January 31, 2025 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net Income (Loss) | $ |
(1,134 |
) |
$ |
(15,599 |
) |
||
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: | ||||||||
| Depreciation and Amortization |
|
1,379 |
|
|
1,266 |
|
||
| Grant Income Included in Depreciation |
|
155 |
|
|
51 |
|
||
| Goodwill Impairment |
|
- |
|
|
13,403 |
|
||
| Amortization of Debt Issuance Costs |
|
10 |
|
|
8 |
|
||
| Share-Based Compensation |
|
751 |
|
|
219 |
|
||
| Deferred Income Tax Provision (Benefit) |
|
(1,238 |
) |
|
874 |
|
||
| Loss on Disposal of Fixed Assets |
|
3 |
|
|
- |
|
||
| Changes in Assets and Liabilities: | ||||||||
| Accounts Receivable |
|
1,566 |
|
|
1,240 |
|
||
| Inventories |
|
2,129 |
|
|
236 |
|
||
| Income Taxes |
|
1,764 |
|
|
630 |
|
||
| Accounts Payable and Accrued Expenses |
|
(758 |
) |
|
(8 |
) |
||
| Deferred Revenue |
|
(519 |
) |
|
(440 |
) |
||
| Other |
|
(434 |
) |
|
645 |
|
||
| Net Cash Provided by Operating Activities | $ |
3,673 |
|
$ |
2,525 |
|
||
| Cash Flows from Investing Activities: | ||||||||
| Proceeds from Sale of Equipment |
|
13 |
|
|
- |
|
||
| Purchases of Property, Plant and Equipment |
|
(139 |
) |
|
(79 |
) |
||
| Cash Paid for MTEX Acquisition, net of cash acquired |
|
- |
|
|
- |
|
||
| Net Cash Used for Investing Activities | $ |
(126 |
) |
$ |
(79 |
) |
||
| Cash Flows from Financing Activities: | ||||||||
| Net Cash Proceeds from Employee Stock Option Plans |
|
- |
|
|
- |
|
||
| Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan |
|
- |
|
|
48 |
|
||
| Net Cash Used for Payment of Taxes Related to Vested Restricted Stock |
|
(1 |
) |
|
(18 |
) |
||
| Revolving Credit Facility, net |
|
(1,981 |
) |
|
734 |
|
||
| Proceeds from Long Term Debt Borrowings |
|
- |
|
|
- |
|
||
| Payment of Minimum Guarantee Royalty Obligation |
|
(279 |
) |
|
(655 |
) |
||
| Principal Payments of Long-Term Debt |
|
(864 |
) |
|
(2,274 |
) |
||
| Payments of Debt Issuance Costs |
|
- |
|
|
3 |
|
||
| Net Cash Provided by (Used for) Financing Activities | $ |
(3,125 |
) |
$ |
(2,163 |
) |
||
| Effect of Exchange Rate Changes on Cash and Cash Equivalents |
|
44 |
|
|
336 |
|
||
| Net Increase in Cash and Cash Equivalents | $ |
466 |
|
$ |
618 |
|
||
| Cash and Cash Equivalents, Beginning of Period |
|
3,606 |
|
|
4,432 |
|
||
| Cash and Cash Equivalents, End of Period | $ |
4,072 |
|
$ |
5,050 |
|
||
| Supplemental Information: | ||||||||
| Cash Paid During the Period for: | ||||||||
| Interest | $ |
751 |
|
$ |
810 |
|
||
| Income Taxes, net of refunds |
|
13 |
|
|
707 |
|
||
| Non-Cash Transactions: | ||||||||
| Operating Lease Obtained in Exchange for Operating Lease Liabilities | $ |
89 |
|
$ |
- |
|
||
ASTRONOVA, INC. |
||||||||
Condensed Consolidated Statements of Cash Flow – Twelve Months |
||||||||
(In thousands) |
||||||||
(Unaudited) |
||||||||
| Twelve Months Ended | ||||||||
| January 31, 2026 | January 31, 2025 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net Income (Loss) | $ |
(2,376 |
) |
$ |
(14,489 |
) |
||
| Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: | ||||||||
| Depreciation and Amortization |
|
4,804 |
|
|
4,780 |
|
||
| Grant Income Included in Depreciation |
|
330 |
|
|
159 |
|
||
| Goodwill Impairment |
|
297 |
|
|
13,403 |
|
||
| Amortization of Debt Issuance Costs |
|
43 |
|
|
30 |
|
||
| Share-Based Compensation |
|
2,310 |
|
|
1,378 |
|
||
| Deferred Income Tax Provision (Benefit) |
|
(1,312 |
) |
|
874 |
|
||
| Loss on Disposal of Fixed Assets |
|
115 |
|
|
- |
|
||
| Changes in Assets and Liabilities: | ||||||||
| Accounts Receivable |
|
2,786 |
|
|
2,859 |
|
||
| Inventories |
|
5,909 |
|
|
1,616 |
|
||
| Income Taxes |
|
663 |
|
|
(904 |
) |
||
| Accounts Payable and Accrued Expenses |
|
(1,125 |
) |
|
(2,379 |
) |
||
| Deferred Revenue |
|
(420 |
) |
|
(1,520 |
) |
||
| Other |
|
(286 |
) |
|
(959 |
) |
||
| Net Cash Provided by Operating Activities | $ |
11,738 |
|
$ |
4,848 |
|
||
| Cash Flows from Investing Activities: | ||||||||
| Proceeds from Sale of Equipment |
|
113 |
|
|
- |
|
||
| Purchases of Property, Plant and Equipment |
|
(332 |
) |
|
(1,165 |
) |
||
| Cash Paid for MTEX Acquisition, net of cash acquired |
|
- |
|
|
(19,109 |
) |
||
| Net Cash Used for Investing Activities | $ |
(219 |
) |
$ |
(20,274 |
) |
||
| Cash Flows from Financing Activities: | ||||||||
| Net Cash Proceeds from Employee Stock Option Plans |
|
- |
|
|
12 |
|
||
| Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan |
|
51 |
|
|
146 |
|
||
| Net Cash Used for Payment of Taxes Related to Vested Restricted Stock |
|
(184 |
) |
|
(450 |
) |
||
| Revolving Credit Facility, net |
|
(5,158 |
) |
|
11,508 |
|
||
| Proceeds from Long Term Debt Borrowings |
|
19,720 |
|
|
15,078 |
|
||
| Payment of Minimum Guarantee Royalty Obligation |
|
(1,238 |
) |
|
(1,902 |
) |
||
| Principal Payments of Long-Term Debt |
|
(25,982 |
) |
|
(8,980 |
) |
||
| Payments of Debt Issuance Costs |
|
(66 |
) |
|
(34 |
) |
||
| Net Cash Provided by (Used for) Financing Activities | $ |
(12,857 |
) |
$ |
15,378 |
|
||
| Effect of Exchange Rate Changes on Cash and Cash Equivalents |
|
360 |
|
|
571 |
|
||
| Net (Decrease) Increase in Cash and Cash Equivalents | $ |
(978 |
) |
$ |
523 |
|
||
| Cash and Cash Equivalents, Beginning of Period |
|
5,050 |
|
|
4,527 |
|
||
| Cash and Cash Equivalents, End of Period | $ |
4,072 |
|
$ |
5,050 |
|
||
| Supplemental Information: | ||||||||
| Cash Paid During the Period for: | ||||||||
| Interest | $ |
3,043 |
|
$ |
2,701 |
|
||
| Income Taxes, net of refunds |
|
634 |
|
|
2,210 |
|
||
| Non-Cash Transactions: | ||||||||
| Operating Lease Obtained in Exchange for Operating Lease Liabilities | $ |
1,075 |
|
$ |
1,581 |
|
||
| ASTRONOVA, INC. | ||||||||||||||||
| Segment Sales and Profit | ||||||||||||||||
| (Unaudited, $ in thousands) | ||||||||||||||||
|
||||||||||||||||
| Three Months Ended |
Twelve Months Ended |
|||||||||||||||
| ($ in thousands) | January 31, 2026 |
January 31, 2025 |
January 31, 2026 |
January 31, 2025 |
||||||||||||
| Revenue: | ||||||||||||||||
| Product ID | $ |
26,330 |
|
$ |
25,678 |
|
$ |
104,221 |
|
$ |
102,345 |
|
||||
| Aerospace |
|
11,206 |
|
|
11,683 |
|
|
46,294 |
|
|
48,938 |
|
||||
| Total Revenue | $ |
37,536 |
|
$ |
37,361 |
|
$ |
150,515 |
|
$ |
151,283 |
|
||||
| Gross Profit: | ||||||||||||||||
| Product ID | $ |
7,088 |
|
$ |
8,237 |
|
$ |
29,837 |
|
$ |
32,571 |
|
||||
| Aerospace |
|
4,237 |
|
|
3,989 |
|
|
17,797 |
|
|
18,087 |
|
||||
| Gross Profit | $ |
11,325 |
|
$ |
12,226 |
|
$ |
47,634 |
|
$ |
50,658 |
|
||||
| Gross Profit Margin: | ||||||||||||||||
| Product ID |
|
26.9 |
% |
|
32.1 |
% |
|
28.6 |
% |
|
31.8 |
% |
||||
| Aerospace |
|
37.8 |
% |
|
34.1 |
% |
|
38.4 |
% |
|
37.0 |
% |
||||
| Gross Profit Margin |
|
30.2 |
% |
|
32.7 |
% |
|
31.6 |
% |
|
33.5 |
% |
||||
| Segment Operating Income: | ||||||||||||||||
| Product ID | $ |
(234 |
) |
$ |
(13,076 |
) |
$ |
(472 |
) |
$ |
(11,860 |
) |
||||
| Aerospace |
|
2,337 |
|
|
1,885 |
|
|
9,763 |
|
|
9,087 |
|
||||
| Total Segment Operating Income | $ |
2,103 |
|
$ |
(11,191 |
) |
$ |
9,291 |
|
$ |
(2,773 |
) |
||||
| Segment Operating Margin: | ||||||||||||||||
| Product ID |
|
-0.9 |
% |
|
-50.9 |
% |
|
-0.5 |
% |
|
-11.6 |
% |
||||
| Aerospace |
|
20.9 |
% |
|
16.1 |
% |
|
21.1 |
% |
|
18.6 |
% |
||||
| Total Segment Operating Margin |
|
5.6 |
% |
|
-30.0 |
% |
|
6.2 |
% |
|
-1.8 |
% |
||||
| Corporate Expense |
|
(2,049 |
) |
|
(1,120 |
) |
|
(8,085 |
) |
|
(5,867 |
) |
||||
| Operating Income (Loss) | $ |
54 |
|
$ |
(12,311 |
) |
$ |
1,206 |
|
$ |
(8,640 |
) |
||||
| Interest Expense | $ |
894 |
|
$ |
847 |
|
$ |
3,503 |
|
$ |
3,210 |
|
||||
| Other (Income)/Expense, net |
|
(51 |
) |
|
100 |
|
|
239 |
|
|
437 |
|
||||
| Income (Loss) Before Income Taxes | $ |
(788 |
) |
$ |
(13,259 |
) |
$ |
(2,536 |
) |
$ |
(12,287 |
) |
||||
| Income Tax Provision (Benefit) |
|
346 |
|
|
2,342 |
|
|
(160 |
) |
|
2,202 |
|
||||
| Net Income (Loss) | $ |
(1,134 |
) |
$ |
(15,600 |
) |
$ |
(2,376 |
) |
$ |
(14,489 |
) |
||||
| ASTRONOVA, INC. | ||||||||||||||||
| Segment Sales and Non-GAAP Profit | ||||||||||||||||
| (Unaudited, $ in thousands) | ||||||||||||||||
|
||||||||||||||||
| Three Months Ended |
Twelve Months Ended |
|||||||||||||||
| ($ in thousands) | January 31, 2026 |
January 31, 2025 |
January 31, 2026 |
January 31, 2025 |
||||||||||||
| Revenue: | ||||||||||||||||
| Product ID | $ |
26,330 |
|
$ |
25,678 |
|
$ |
104,221 |
|
$ |
102,345 |
|
||||
| Aerospace |
|
11,206 |
|
|
11,683 |
|
|
46,294 |
|
|
48,938 |
|
||||
| Total Revenue | $ |
37,536 |
|
$ |
37,361 |
|
$ |
150,515 |
|
$ |
151,283 |
|
||||
| Non-GAAP Gross Profit: | ||||||||||||||||
| Product ID | $ |
7,356 |
|
$ |
8,296 |
|
$ |
31,010 |
|
$ |
32,770 |
|
||||
| Aerospace |
|
4,547 |
|
|
3,989 |
|
|
17,961 |
|
|
18,087 |
|
||||
| Non-GAAP Gross Profit | $ |
11,903 |
|
$ |
12,285 |
|
$ |
48,971 |
|
$ |
50,857 |
|
||||
| Non-GAAP Gross Profit Margin: | ||||||||||||||||
| Product ID |
|
27.9 |
% |
|
32.3 |
% |
|
29.8 |
% |
|
32.0 |
% |
||||
| Aerospace |
|
40.6 |
% |
|
34.1 |
% |
|
38.8 |
% |
|
37.0 |
% |
||||
| Non-GAAP Gross Profit Margin |
|
31.7 |
% |
|
32.9 |
% |
|
32.5 |
% |
|
33.6 |
% |
||||
| Non-GAAP Segment Operating Income: | ||||||||||||||||
| Product ID | $ |
(124 |
) |
$ |
647 |
|
$ |
1,542 |
|
$ |
2,966 |
|
||||
| Aerospace |
|
2,648 |
|
|
1,886 |
|
|
9,934 |
|
|
9,088 |
|
||||
| Total Non-GAAP Segment Operating Income | $ |
2,524 |
|
$ |
2,533 |
|
$ |
11,476 |
|
$ |
12,054 |
|
||||
| Non-GAAP Segment Operating Margin: | ||||||||||||||||
| Product ID |
|
-0.5 |
% |
|
2.5 |
% |
|
1.5 |
% |
|
2.9 |
% |
||||
| Aerospace |
|
23.6 |
% |
|
16.1 |
% |
|
21.5 |
% |
|
18.6 |
% |
||||
| Total Non-GAAP Segment Operating Margin |
|
6.7 |
% |
|
6.8 |
% |
|
7.6 |
% |
|
8.0 |
% |
||||
| Corporate Expense |
|
(1,400 |
) |
|
(1,123 |
) |
|
(5,882 |
) |
|
(5,437 |
) |
||||
| Non-GAAP Operating Income | $ |
1,124 |
|
$ |
1,409 |
|
$ |
5,594 |
|
$ |
6,617 |
|
||||
| Interest Expense | $ |
894 |
|
$ |
847 |
|
$ |
3,503 |
|
$ |
3,210 |
|
||||
| Other (Income)/Expense, net |
|
(51 |
) |
|
100 |
|
|
28 |
|
|
437 |
|
||||
| Income Before Income Taxes | $ |
281 |
|
$ |
462 |
|
$ |
2,063 |
|
$ |
2,970 |
|
||||
| Adjusted Income Tax Provision (Benefit) |
|
586 |
|
|
43 |
|
|
845 |
|
|
284 |
|
||||
| Non-GAAP Net Income | $ |
(305 |
) |
$ |
419 |
|
$ |
1,218 |
|
$ |
2,686 |
|
||||
| ASTRONOVA, INC. | |||||||||||||||||||||||||||||||
| Revenue by Market | |||||||||||||||||||||||||||||||
(unaudited, $ in thousands) |
|||||||||||||||||||||||||||||||
|
|||||||||||||||||||||||||||||||
| Product ID: | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | FY2025 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | FY2026 | |||||||||||||||||||||
| Desktop Label Printers | $ |
14,220 |
$ |
16,349 |
$ |
15,408 |
$ |
14,019 |
$ |
59,996 |
$ |
15,478 |
$ |
15,190 |
$ |
16,115 |
|
15,041 |
|
61,824 |
|||||||||||
| Mail & Sheet/Flat Pack Printers |
|
3,930 |
|
3,471 |
|
3,679 |
|
4,494 |
|
15,574 |
|
4,050 |
|
3,740 |
|
4,280 |
|
4,138 |
|
16,208 |
|||||||||||
| Professional Label Printers |
|
3,245 |
|
4,231 |
|
3,423 |
|
2,972 |
|
13,871 |
|
3,247 |
|
3,506 |
|
3,636 |
|
3,863 |
|
14,252 |
|||||||||||
| Direct to Package/Overprint Printers |
|
1,787 |
|
2,925 |
|
3,627 |
|
2,718 |
|
11,057 |
|
3,396 |
|
2,230 |
|
2,371 |
|
2,579 |
|
10,576 |
|||||||||||
| Flexible Packaging Printers |
|
- |
|
- |
|
15 |
|
1,289 |
|
1,304 |
|
30 |
|
69 |
|
79 |
|
38 |
|
216 |
|||||||||||
| Other |
|
3 |
|
189 |
|
165 |
|
186 |
|
543 |
|
88 |
|
19 |
|
368 |
|
670 |
|
1,145 |
|||||||||||
| TOTAL | $ |
23,185 |
$ |
27,165 |
$ |
26,317 |
$ |
25,678 |
$ |
102,345 |
$ |
26,289 |
$ |
24,754 |
$ |
26,849 |
|
26,330 |
|
104,221 |
|||||||||||
| Aerospace: | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | FY2025 | Q1 FY26* | Q2 FY26 | Q3 FY26 | Q4 FY26 | FY2026 | |||||||||||||||||||||
| Commercial Aircraft |
|
3,813 |
|
6,299 |
|
5,221 |
|
4,363 |
|
19,696 |
|
4,953 |
|
4,714 |
|
5,764 |
|
5,030 |
|
20,461 |
|||||||||||
| Aftermarket | $ |
4,694 |
$ |
5,326 |
$ |
7,058 |
$ |
5,481 |
$ |
22,559 |
$ |
4,911 |
$ |
4,953 |
$ |
4,955 |
$ |
4,831 |
$ |
19,650 |
|||||||||||
| Defense |
|
329 |
|
608 |
|
734 |
|
781 |
|
2,452 |
|
811 |
|
1,047 |
|
766 |
|
885 |
|
3,509 |
|||||||||||
| Regional and Biz Jet Aircraft |
|
697 |
|
604 |
|
993 |
|
802 |
|
3,096 |
|
396 |
|
431 |
|
634 |
|
195 |
|
1,656 |
|||||||||||
| Other |
|
243 |
|
537 |
|
99 |
|
256 |
|
1,135 |
|
348 |
|
203 |
|
201 |
|
266 |
|
1,018 |
|||||||||||
| TOTAL | $ |
9,776 |
$ |
13,374 |
$ |
14,105 |
$ |
11,683 |
$ |
48,938 |
$ |
11,419 |
$ |
11,348 |
$ |
12,320 |
$ |
11,206 |
$ |
46,294 |
|||||||||||
| Consolidated Total | $ |
32,961 |
$ |
40,539 |
$ |
40,422 |
$ |
37,361 |
$ |
151,283 |
$ |
37,708 |
$ |
36,102 |
$ |
39,169 |
|
37,536 |
|
150,515 |
|||||||||||
| *Q1 fiscal 2026 revenue by market has been revised from amount previously reported in our Q1 fiscal 2026 press release issued on June 5, 2025, to correct a classification error between market categories. Total Q1 fiscal sales were unaffected. | |||||||||||||||||||||||||||||||
| ASTRONOVA, INC. | ||||||||||||||||||||||||||||||
| Revenue by Type | ||||||||||||||||||||||||||||||
| (Unaudited, $ in thousands) | ||||||||||||||||||||||||||||||
| Product ID | Q1 FY25 | Q2 FY25 | Q3 FY25 | Q4 FY25 | FY 2025 | Q1 FY26 | Q2 FY26 | Q3 FY26 | Q4 FY26 | FY 2026 | ||||||||||||||||||||
| Product ID HW | $ |
3,802 |
$ |
4,311 |
$ |
4,590 |
$ |
5,591 |
$ |
18,294 |
$ |
4,776 |
$ |
4,511 |
$ |
5,357 |
$ |
5,332 |
$ |
19,976 |
||||||||||
| Product ID Recurring Supplies, Parts & Service |
|
19,383 |
|
22,854 |
|
21,727 |
|
20,087 |
|
84,051 |
|
21,513 |
|
20,243 |
|
21,492 |
|
20,997 |
|
84,245 |
||||||||||
| Total Product ID | $ |
23,185 |
$ |
27,165 |
$ |
26,317 |
$ |
25,678 |
$ |
102,345 |
$ |
26,289 |
$ |
24,754 |
$ |
26,849 |
$ |
26,330 |
$ |
104,221 |
||||||||||
| Aerospace | ||||||||||||||||||||||||||||||
| Aerospace HW | $ |
5,073 |
$ |
8,048 |
$ |
7,032 |
$ |
6,185 |
$ |
26,338 |
$ |
6,519 |
$ |
6,425 |
$ |
7,360 |
$ |
6,369 |
$ |
26,673 |
||||||||||
| Aerospace Recurring Supplies, Parts & Service |
|
4,703 |
|
5,326 |
|
7,073 |
|
5,498 |
|
22,600 |
|
4,900 |
|
4,923 |
|
4,960 |
|
4,838 |
|
19,621 |
||||||||||
| Total Aerospace | $ |
9,776 |
$ |
13,374 |
$ |
14,105 |
$ |
11,683 |
$ |
48,938 |
$ |
11,419 |
$ |
11,348 |
$ |
12,320 |
$ |
11,206 |
$ |
46,294 |
||||||||||
| Consolidated | ||||||||||||||||||||||||||||||
| AstroNova HW | $ |
8,875 |
$ |
12,359 |
$ |
11,622 |
$ |
11,776 |
$ |
44,632 |
$ |
11,295 |
$ |
10,936 |
$ |
12,717 |
$ |
11,701 |
$ |
46,649 |
||||||||||
| AstroNova Recurring Supplies, Parts & Service |
|
24,086 |
|
28,180 |
|
28,800 |
|
25,585 |
|
106,651 |
|
26,413 |
|
25,166 |
|
26,452 |
|
25,835 |
|
103,866 |
||||||||||
| TOTAL | $ |
32,961 |
$ |
40,539 |
$ |
40,422 |
$ |
37,361 |
$ |
151,283 |
$ |
37,708 |
$ |
36,102 |
$ |
39,169 |
$ |
37,536 |
$ |
150,515 |
||||||||||
| ASTRONOVA, INC. | ||||||||||||||||||||||||||||||
| Bookings and Backlog | ||||||||||||||||||||||||||||||
| (Unaudited, $ in thousands) | ||||||||||||||||||||||||||||||
| AstroNova | ||||||||||||||||||||||||||||||
Q1 FY25 |
Q2 FY25 |
Q3 FY25 |
Q4 FY25 |
FY 2025 |
Q1 FY26 |
Q2 FY26 |
Q3 FY26 |
Q4 FY26 |
FY 2026 |
|||||||||||||||||||||
| Beginning backlog (Non-MTEX) | $ |
31,394 |
|
$ |
31,556 |
|
$ |
29,900 |
|
$ |
27,093 |
|
$ |
31,394 |
|
$ |
28,307 |
|
$ |
25,491 |
|
$ |
25,291 |
|
$ |
21,989 |
|
$ |
28,307 |
|
| MTEX* | $ |
- |
|
$ |
3,084 |
|
$ |
- |
|
$ |
- |
|
$ |
3,084 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
| Backlog Beg. of Period (incl. MTEX) | $ |
31,394 |
|
$ |
34,640 |
|
$ |
29,900 |
|
$ |
27,093 |
|
$ |
34,478 |
|
$ |
28,307 |
|
$ |
25,491 |
|
$ |
25,291 |
|
$ |
21,989 |
|
$ |
28,307 |
|
| Revenue Recognized (Billings) | $ |
32,961 |
|
$ |
40,539 |
|
$ |
40,422 |
|
$ |
37,361 |
|
$ |
151,283 |
|
$ |
37,708 |
|
$ |
36,102 |
|
$ |
39,169 |
|
$ |
37,536 |
|
$ |
150,515 |
|
| New Bookings During Period | $ |
33,122 |
|
$ |
35,799 |
|
$ |
37,615 |
|
$ |
38,576 |
|
$ |
145,112 |
|
$ |
34,893 |
|
$ |
35,901 |
|
$ |
35,867 |
|
$ |
41,077 |
|
$ |
147,738 |
|
| Backlog End of Period | $ |
31,556 |
|
$ |
29,900 |
|
$ |
27,093 |
|
$ |
28,307 |
|
$ |
28,307 |
|
$ |
25,491 |
|
$ |
25,291 |
|
$ |
21,989 |
|
$ |
25,530 |
|
$ |
25,530 |
|
| Book/Bill % |
|
100 |
% |
|
88 |
% |
|
93 |
% |
|
103 |
% |
|
96 |
% |
|
93 |
% |
|
99 |
% |
|
92 |
% |
|
109 |
% |
|
96 |
% |
| *MTEX Backlog was acquired during 2nd quarter fiscal 2025 | ||||||||||||||||||||||||||||||
| Product Identification | ||||||||||||||||||||||||||||||
Q1 FY25 |
Q2 FY25 |
Q3 FY25 |
Q4 FY25 |
FY 2025 |
Q1 FY26 |
Q2 FY26 |
Q3 FY26 |
Q4 FY26 |
FY 2026 |
|||||||||||||||||||||
| Beginning backlog (Non-MTEX) | $ |
19,725 |
|
$ |
19,467 |
|
$ |
18,786 |
|
$ |
19,254 |
|
$ |
19,725 |
|
$ |
18,091 |
|
$ |
18,044 |
|
$ |
16,727 |
|
$ |
12,351 |
|
$ |
18,091 |
|
| MTEX* | $ |
- |
|
$ |
3,084 |
|
$ |
- |
|
$ |
- |
|
$ |
3,084 |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
$ |
- |
|
| Backlog Beg. of Period (incl. MTEX) | $ |
19,725 |
|
$ |
22,551 |
|
$ |
18,786 |
|
$ |
19,254 |
|
$ |
22,809 |
|
$ |
18,091 |
|
$ |
18,044 |
|
$ |
16,727 |
|
$ |
12,351 |
|
$ |
18,091 |
|
| Revenue Recognized (Billings) | $ |
23,185 |
|
$ |
27,165 |
|
$ |
26,317 |
|
$ |
25,678 |
|
$ |
102,345 |
|
$ |
26,289 |
|
$ |
24,754 |
|
$ |
26,849 |
|
$ |
26,330 |
|
$ |
104,221 |
|
| New Bookings During Period | $ |
22,926 |
|
$ |
23,400 |
|
$ |
26,785 |
|
$ |
24,516 |
|
$ |
97,627 |
|
$ |
26,242 |
|
$ |
23,437 |
|
$ |
22,473 |
|
$ |
27,460 |
|
$ |
99,612 |
|
| Backlog End of Period | $ |
19,467 |
|
$ |
18,786 |
|
$ |
19,254 |
|
$ |
18,091 |
|
$ |
18,091 |
|
$ |
18,044 |
|
$ |
16,727 |
|
$ |
12,351 |
|
$ |
13,484 |
|
$ |
13,482 |
|
| Book/Bill % |
|
99 |
% |
|
86 |
% |
|
102 |
% |
|
95 |
% |
|
95 |
% |
|
100 |
% |
|
95 |
% |
|
84 |
% |
|
104 |
% |
|
95 |
% |
| *MTEX Backlog was acquired during 2nd quarter fiscal 2025 | ||||||||||||||||||||||||||||||
| Aerospace | ||||||||||||||||||||||||||||||
Q1 FY25 |
Q2 FY25 |
Q3 FY25 |
Q4 FY25 |
FY 2025 |
Q1 FY26 |
Q2 FY26 |
Q3 FY26 |
Q4 FY26 |
FY 2025 |
|||||||||||||||||||||
| Backlog Beginning of Period | $ |
11,669 |
|
$ |
12,089 |
|
$ |
11,114 |
|
$ |
7,839 |
|
$ |
11,669 |
|
$ |
10,216 |
|
$ |
7,447 |
|
$ |
8,563 |
|
$ |
9,638 |
|
$ |
10,216 |
|
| Revenue Recognized (Billings) | $ |
9,776 |
|
$ |
13,374 |
|
$ |
14,105 |
|
$ |
11,683 |
|
$ |
48,938 |
|
$ |
11,419 |
|
$ |
11,348 |
|
$ |
12,320 |
|
$ |
11,206 |
|
$ |
46,294 |
|
| New Bookings During Period | $ |
10,196 |
|
$ |
12,399 |
|
$ |
10,830 |
|
$ |
14,060 |
|
$ |
47,485 |
|
$ |
8,651 |
|
$ |
12,464 |
|
$ |
13,394 |
|
$ |
13,617 |
|
$ |
48,126 |
|
| Backlog End of Period | $ |
12,089 |
|
$ |
11,114 |
|
$ |
7,839 |
|
$ |
10,216 |
|
$ |
10,216 |
|
$ |
7,447 |
|
$ |
8,563 |
|
$ |
9,638 |
|
$ |
12,047 |
|
$ |
12,048 |
|
| Book/Bill % |
|
104 |
% |
|
93 |
% |
|
77 |
% |
|
120 |
% |
|
97 |
% |
|
76 |
% |
|
110 |
% |
|
109 |
% |
|
122 |
% |
|
97 |
% |
ASTRONOVA, INC. |
|||||||||||||||||||||||||||||
Segment Sales and Profit – Historical Quarterly Summary (Recast) |
|||||||||||||||||||||||||||||
(unaudited, $ in thousands) |
|||||||||||||||||||||||||||||
| FY24 | Q1 | Q2 | Q3 | Q4 | FY25 | Q1 | Q2 | Q3 | Q4 | FY26 | |||||||||||||||||||
| Aerospace | Revenue | $ |
44,045 |
|
9,776 |
|
13,374 |
|
14,105 |
|
11,683 |
|
$ |
48,938 |
|
11,419 |
|
11,348 |
|
12,320 |
|
11,206 |
|
$ |
46,294 |
|
|||
| Gross profit | $ |
15,900 |
|
3,456 |
|
5,548 |
|
5,093 |
|
3,989 |
|
$ |
18,087 |
|
3,719 |
|
3,721 |
|
6,121 |
|
4,236 |
|
$ |
17,797 |
|
||||
| Gross Profit Margin |
|
36.1 |
% |
35.4 |
% |
41.5 |
% |
36.1 |
% |
34.1 |
% |
|
37.0 |
% |
32.6 |
% |
32.8 |
% |
49.7 |
% |
37.8 |
% |
|
38.4 |
% |
||||
| Operating Expenses: | |||||||||||||||||||||||||||||
| Selling & Marketing | $ |
3,433 |
|
904 |
|
899 |
|
913 |
|
822 |
|
$ |
3,537 |
|
481 |
|
911 |
|
1,095 |
|
772 |
|
$ |
3,260 |
|
||||
| Research & Development | $ |
2,347 |
|
801 |
|
781 |
|
877 |
|
785 |
|
$ |
3,243 |
|
652 |
|
603 |
|
710 |
|
656 |
|
$ |
2,621 |
|
||||
| General & Administrative | $ |
1,881 |
|
644 |
|
567 |
|
512 |
|
497 |
|
$ |
2,220 |
|
606 |
|
540 |
|
536 |
|
471 |
|
$ |
2,154 |
|
||||
| Total Operating Expenses | $ |
7,661 |
|
2,348 |
|
2,246 |
|
2,301 |
|
2,104 |
|
$ |
9,000 |
|
1,739 |
|
2,055 |
|
2,341 |
|
1,899 |
|
$ |
8,034 |
|
||||
| Aerospace Operating Income | $ |
8,240 |
|
1,108 |
|
3,302 |
|
2,792 |
|
1,885 |
|
$ |
9,087 |
|
1,980 |
|
1,666 |
|
3,780 |
|
2,338 |
|
$ |
9,763 |
|
||||
| Aerospace Operating Margin |
|
18.7 |
% |
11.3 |
% |
24.7 |
% |
19.8 |
% |
16.1 |
% |
|
18.6 |
% |
17.3 |
% |
14.7 |
% |
30.7 |
% |
20.9 |
% |
|
21.1 |
% |
||||
| Non-GAAP | |||||||||||||||||||||||||||||
| Aerospace Adjusted EBITDA1 | $ |
10,239 |
|
1,519 |
|
3,719 |
|
3,193 |
|
2,279 |
|
$ |
10,710 |
|
2,566 |
|
2,081 |
|
3,911 |
|
3,104 |
|
$ |
11,662 |
|
||||
| Adjusted EBITDA Margin1 |
|
23.2 |
% |
15.5 |
% |
27.8 |
% |
22.6 |
% |
19.5 |
% |
|
21.9 |
% |
22.5 |
% |
18.3 |
% |
31.7 |
% |
27.7 |
% |
|
25.2 |
% |
||||
| FY24 | Q1 | Q2 | Q3 | Q4 | FY25 | Q1 | Q2 | Q3 | Q4 | FY26 | |||||||||||||||||||
| Product ID | Revenue | $ |
104,041 |
|
23,185 |
|
27,165 |
|
26,317 |
|
25,679 |
|
$ |
102,345 |
|
26,289 |
|
24,754 |
|
26,849 |
|
26,330 |
|
$ |
104,221 |
|
|||
| Gross profit | $ |
33,604 |
|
8,002 |
|
8,315 |
|
8,015 |
|
8,236 |
|
$ |
32,570 |
|
8,232 |
|
7,194 |
|
7,323 |
|
7,088 |
|
$ |
29,838 |
|
||||
| Gross Profit Margin |
|
32.3 |
% |
34.5 |
% |
30.6 |
% |
30.5 |
% |
32.1 |
% |
|
31.8 |
% |
31.3 |
% |
29.1 |
% |
27.3 |
% |
26.9 |
% |
|
28.6 |
% |
||||
| Operating Expenses: | |||||||||||||||||||||||||||||
| Selling & Marketing | $ |
19,971 |
|
4,436 |
|
5,567 |
|
5,438 |
|
5,274 |
|
$ |
20,715 |
|
5,124 |
|
4,935 |
|
4,773 |
|
4,870 |
|
$ |
19,703 |
|
||||
| Research & Development | $ |
3,994 |
|
670 |
|
507 |
|
795 |
|
832 |
|
$ |
2,804 |
|
877 |
|
961 |
|
1,188 |
|
1,141 |
|
$ |
4,167 |
|
||||
| General & Administrative | $ |
4,314 |
|
1,447 |
|
2,363 |
|
1,896 |
|
15,206 |
|
$ |
20,911 |
|
1,971 |
|
1,490 |
|
1,667 |
|
1,310 |
|
$ |
6,439 |
|
||||
| Total Operating Expenses | $ |
28,280 |
|
6,553 |
|
8,437 |
|
8,128 |
|
21,312 |
|
$ |
44,430 |
|
7,973 |
|
7,387 |
|
7,628 |
|
7,323 |
|
$ |
30,310 |
|
||||
| Product ID Operating Income | $ |
5,325 |
|
1,449 |
|
(121 |
) |
(112 |
) |
(13,076 |
) |
$ |
(11,860 |
) |
259 |
|
(192 |
) |
(304 |
) |
(234 |
) |
$ |
(472 |
) |
||||
| Product ID Operating Margin |
|
5.1 |
% |
6.2 |
% |
-0.4 |
% |
-0.4 |
% |
-50.9 |
% |
|
-11.6 |
% |
1.0 |
% |
-0.8 |
% |
-1.1 |
% |
-0.9 |
% |
|
-0.5 |
% |
||||
| Non-GAAP | |||||||||||||||||||||||||||||
| Product ID Adjusted EBITDA1 | $ |
11,156 |
|
2,046 |
|
1,619 |
|
1,269 |
|
1,615 |
|
$ |
6,550 |
|
1,902 |
|
870 |
|
1,371 |
|
1,095 |
|
$ |
5,238 |
|
||||
| Adjusted EBITDA Margin1 |
|
10.7 |
% |
8.8 |
% |
6.0 |
% |
4.8 |
% |
6.3 |
% |
|
6.4 |
% |
7.2 |
% |
3.5 |
% |
5.1 |
% |
4.2 |
% |
|
5.0 |
% |
||||
| Corporate Expense | $ |
4,768 |
|
1,211 |
|
2,120 |
|
1,416 |
|
1,120 |
|
$ |
5,867 |
|
1,668 |
|
2,181 |
|
2,187 |
|
2,049 |
|
$ |
8,086 |
|
||||
| Consolidated | Consolidated Operating Income |
|
8,796 |
|
1,346 |
|
1,061 |
|
1,264 |
|
(12,311 |
) |
|
(8,640 |
) |
571 |
|
(708 |
) |
1,288 |
|
55 |
|
|
1,206 |
|
|||
| Consolidated Operating Margin |
|
5.9 |
% |
4.1 |
% |
2.6 |
% |
3.1 |
% |
-33.0 |
% |
|
-5.7 |
% |
1.5 |
% |
-2.0 |
% |
3.3 |
% |
0.1 |
% |
|
0.8 |
% |
||||
| Non-GAAP | |||||||||||||||||||||||||||||
| Adjusted EBITDA1 | $ |
17,601 |
|
2,463 |
|
3,849 |
|
3,230 |
|
2,793 |
|
$ |
12,336 |
|
3,146 |
|
2,056 |
|
4,173 |
|
3,306 |
|
$ |
12,681 |
|
||||
| Adjusted EBITDA Margin1 |
|
11.9 |
% |
7.5 |
% |
9.5 |
% |
8.0 |
% |
7.5 |
% |
|
8.2 |
% |
8.3 |
% |
5.7 |
% |
10.7 |
% |
8.8 |
% |
|
8.4 |
% |
||||
1Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP metrics. Please refer to the reconciliation of GAAP to non-GAAP metrics in the tables that accompany this news release. |
|||||||||||||||||||||||||||||
| ASTRONOVA, INC. | ||||||||||||||||||||||||||
| Reconciliation of GAAP to Non-GAAP Items | ||||||||||||||||||||||||||
(Unaudited, $ in thousands) |
||||||||||||||||||||||||||
|
||||||||||||||||||||||||||
| Three Months Ended | Twelve Months Ended | 2H Fiscal 2026 and 1H Fiscal 2026 | ||||||||||||||||||||||||
| January 31, 2026 |
January 31, 2025 |
January 31, 2026 |
January 31, 2025 |
2H FY26 | 1H FY26 | |||||||||||||||||||||
| Revenue | $ |
37,536 |
|
$ |
37,361 |
|
$ |
150,515 |
|
$ |
151,283 |
|
$ |
76,705 |
|
$ |
73,810 |
|
||||||||
| Gross Profit | $ |
11,324 |
|
$ |
12,227 |
|
$ |
47,634 |
|
$ |
50,658 |
|
$ |
24,769 |
|
$ |
22,866 |
|
||||||||
| Inventory Step-Up |
|
- |
|
|
62 |
|
|
61 |
|
|
216 |
|
|
- |
|
|
61 |
|
||||||||
| Inventory Provision |
|
365 |
|
|
- |
|
|
724 |
|
|
- |
|
|
724 |
|
|||||||||||
| Restructuring Charges |
|
29 |
|
|
- |
|
|
367 |
|
|
- |
|
|
30 |
|
|
337 |
|
||||||||
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
185 |
|
|||||||||||
| Non-GAAP Gross Profit | $ |
11,903 |
|
$ |
12,289 |
|
$ |
48,971 |
|
$ |
50,874 |
|
$ |
25,708 |
|
$ |
23,264 |
|
||||||||
| Gross Profit Margin |
|
30.2 |
% |
|
32.7 |
% |
|
31.6 |
% |
|
33.5 |
% |
|
32.3 |
% |
|
31.0 |
% |
||||||||
| Non-GAAP Gross Profit Margin |
|
31.7 |
% |
|
32.9 |
% |
|
32.5 |
% |
|
33.6 |
% |
|
33.5 |
% |
|
31.5 |
% |
||||||||
| Operating Expenses | $ |
11,270 |
|
$ |
24,538 |
|
$ |
46,428 |
|
$ |
59,298 |
|
$ |
23,426 |
|
$ |
23,003 |
|
||||||||
| MTEX-related Acquisition Expenses |
|
- |
|
|
(254 |
) |
|
(311 |
) |
|
(1,204 |
) |
|
- |
|
|
(311 |
) |
||||||||
| CFO Transition Costs |
|
- |
|
|
- |
|
|
- |
|
|
(432 |
) |
|
- |
|
|
- |
|
||||||||
| Restructuring Charges |
|
(23 |
) |
|
- |
|
|
(990 |
) |
|
- |
|
|
(81 |
) |
|
(910 |
) |
||||||||
| Non-Recurring Legal Expenses |
|
(258 |
) |
|
- |
|
|
(715 |
) |
|
- |
|
|
(646 |
) |
|
(69 |
) |
||||||||
| Non-Recurring Proxy Costs |
|
(210 |
) |
|
- |
|
|
(738 |
) |
|
- |
|
|
(383 |
) |
|
(355 |
) |
||||||||
| Goodwill Impairment |
|
- |
|
|
(13,403 |
) |
|
(297 |
) |
|
(13,403 |
) |
|
(297 |
) |
|||||||||||
| Non-GAAP Operating Expenses | $ |
10,779 |
|
$ |
10,881 |
|
$ |
43,377 |
|
$ |
44,259 |
|
$ |
22,019 |
|
$ |
21,358 |
|
||||||||
| Operating Income (Loss) | $ |
54 |
|
$ |
(12,311 |
) |
$ |
1,206 |
|
$ |
(8,640 |
) |
$ |
1,342 |
|
$ |
(137 |
) |
||||||||
| MTEX-related Acquisition Expenses |
|
- |
|
|
254 |
|
|
311 |
|
|
1,204 |
|
|
- |
|
|
311 |
|
||||||||
| CFO Transition Costs |
|
- |
|
|
- |
|
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
||||||||
| Inventory Step-Up |
|
- |
|
|
62 |
|
|
61 |
|
|
216 |
|
|
- |
|
|
61 |
|
||||||||
| Inventory Provision |
|
365 |
|
|
- |
|
|
724 |
|
|
- |
|
|
724 |
|
|||||||||||
| Restructuring Charges |
|
52 |
|
|
- |
|
|
1,357 |
|
|
- |
|
|
110 |
|
|
1,247 |
|
||||||||
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
186 |
|
|||||||||||
| Non-Recurring Legal Expenses |
|
258 |
|
|
- |
|
|
715 |
|
|
- |
|
|
646 |
|
|
69 |
|
||||||||
| Non-Recurring Proxy Costs |
|
210 |
|
|
- |
|
|
738 |
|
|
- |
|
|
383 |
|
|
355 |
|
||||||||
| Goodwill Impairment |
|
- |
|
|
13,403 |
|
|
297 |
|
|
13,403 |
|
|
297 |
|
|||||||||||
| Non-GAAP Operating Income | $ |
1,124 |
|
$ |
1,408 |
|
$ |
5,594 |
|
$ |
6,615 |
|
$ |
3,688 |
|
$ |
1,906 |
|
||||||||
| Operating Income Margin |
|
0.1 |
% |
|
-33.0 |
% |
|
0.8 |
% |
|
-5.7 |
% |
|
1.7 |
% |
|
-0.2 |
% |
||||||||
| Non-GAAP Operating Income Margin |
|
3.0 |
% |
|
3.8 |
% |
|
3.7 |
% |
|
4.4 |
% |
|
4.8 |
% |
|
2.6 |
% |
||||||||
| Net Income (Loss) | $ |
(1,134 |
) |
$ |
(15,600 |
) |
$ |
(2,376 |
) |
$ |
(14,489 |
) |
$ |
(756 |
) |
$ |
(1,620 |
) |
||||||||
| MTEX-related Acquisition Expenses(1) |
|
- |
|
|
197 |
|
|
237 |
|
|
910 |
|
|
- |
|
|
237 |
|
||||||||
| CFO Transition Costs, net(1) |
|
- |
|
|
(4 |
) |
|
- |
|
|
328 |
|
|
- |
|
|
- |
|
||||||||
| Inventory Step-Up(1) |
|
- |
|
|
50 |
|
|
49 |
|
|
161 |
|
|
- |
|
|
49 |
|
||||||||
| Inventory Provision(1) |
|
292 |
|
|
- |
|
|
565 |
|
|
- |
|
|
565 |
|
|
- |
|
||||||||
| Restructuring Charges(1) |
|
41 |
|
|
- |
|
|
1,030 |
|
|
- |
|
|
80 |
|
|
950 |
|
||||||||
| Product Retrofit Costs(1) |
|
148 |
|
|
- |
|
|
148 |
|
|
- |
|
|
148 |
|
|
- |
|
||||||||
| Non-Recurring Legal Expenses(1) |
|
189 |
|
|
- |
|
|
542 |
|
|
- |
|
|
489 |
|
|
53 |
|
||||||||
| Non-Recurring Proxy Costs(1) |
|
160 |
|
|
- |
|
|
561 |
|
|
- |
|
|
289 |
|
|
272 |
|
||||||||
| Realized Fx(1) |
|
- |
|
|
- |
|
|
80 |
|
|
- |
|
|
80 |
|
|
- |
|
||||||||
| Other (Income) and Expense(1) |
|
- |
|
|
- |
|
|
85 |
|
|
- |
|
|
85 |
|
|
- |
|
||||||||
| Goodwill Impairment |
|
- |
|
|
13,403 |
|
|
297 |
|
|
13,403 |
|
|
297 |
|
|
- |
|
||||||||
| Tax Provision Valuation Allowance |
|
- |
|
|
2,373 |
|
|
- |
|
|
2,373 |
|
|
- |
|
|
- |
|
||||||||
| Non-GAAP Net Income (Loss) | $ |
(305 |
) |
$ |
419 |
|
$ |
1,218 |
|
$ |
2,686 |
|
$ |
1,277 |
|
$ |
(59 |
) |
||||||||
| Diluted Earnings (Loss) Per Share | $ |
(0.15 |
) |
$ |
(2.07 |
) |
$ |
(0.31 |
) |
$ |
(1.93 |
) |
$ |
(0.10 |
) |
$ |
(0.21 |
) |
||||||||
| MTEX-related Acquisition Expenses(1) |
|
- |
|
|
0.03 |
|
|
0.03 |
|
|
0.12 |
|
|
- |
|
|
0.03 |
|
||||||||
| CFO Transition Costs, net(1) |
|
- |
|
|
(0.00 |
) |
|
- |
|
|
0.04 |
|
|
- |
|
|
- |
|
||||||||
| Inventory Step-Up(1) |
|
- |
|
|
0.01 |
|
|
0.01 |
|
|
0.02 |
|
|
- |
|
|
0.01 |
|
||||||||
| Inventory Provision(1) |
|
0.04 |
|
|
- |
|
|
0.07 |
|
|
- |
|
|
0.07 |
|
|
- |
|
||||||||
| Restructuring Charges(1) |
|
0.01 |
|
|
- |
|
|
0.14 |
|
|
- |
|
|
0.01 |
|
|
0.13 |
|
||||||||
| Product Retrofit Costs(1) |
|
0.02 |
|
|
- |
|
|
0.02 |
|
|
- |
|
|
0.02 |
|
|
- |
|
||||||||
| Non-Recurring Legal Expenses(1) |
|
0.02 |
|
|
- |
|
|
0.07 |
|
|
- |
|
|
0.06 |
|
|
0.01 |
|
||||||||
| Non-Recurring Proxy Costs(1) |
|
0.02 |
|
|
- |
|
|
0.07 |
|
|
- |
|
|
0.04 |
|
|
0.04 |
|
||||||||
| Realized Fx(1) |
|
- |
|
|
- |
|
|
0.01 |
|
|
- |
|
|
0.01 |
|
|
- |
|
||||||||
| Other (Income) and Expense(1) |
|
- |
|
|
- |
|
|
0.01 |
|
|
- |
|
|
0.01 |
|
|
- |
|
||||||||
| Goodwill Impairment(1) |
|
- |
|
|
1.78 |
|
|
0.04 |
|
|
1.76 |
|
|
0.04 |
|
|
- |
|
||||||||
| Tax Provision Valuation Allowance |
|
- |
|
|
0.31 |
|
|
- |
|
|
0.31 |
|
|
- |
|
|
- |
|
||||||||
| Non-GAAP Diluted Earnings (Loss) Per Share | $ |
(0.04 |
) |
$ |
0.06 |
|
$ |
0.16 |
|
$ |
0.32 |
|
$ |
0.16 |
|
$ |
(0.01 |
) |
||||||||
| (1) Net of taxes | ||||||||||||||||||||||||||
ASTRONOVA, INC. |
|||||||||||||||
Reconciliation of Net Income and Margin to Adjusted EBITDA and Margin |
|||||||||||||||
(Unaudited, $ in thousands) |
|||||||||||||||
| Three Months Ended | |||||||||||||||
| January 31, 2026 |
January 31, 2025 |
||||||||||||||
| Net Income (Loss) | $ |
(1,134 |
) |
$ |
(15,600 |
) |
|||||||||
| Interest Expense |
|
894 |
|
|
847 |
|
|||||||||
| Income Tax Expense (Benefit) |
|
346 |
|
|
2,342 |
|
|||||||||
| Depreciation & Amortization |
|
1,379 |
|
|
1,266 |
|
|||||||||
| EBITDA | $ |
1,485 |
|
$ |
(11,145 |
) |
|||||||||
| Share-Based Compensation |
|
752 |
|
|
219 |
|
|||||||||
| MTEX-related Acquisition Expenses |
|
- |
|
|
259 |
|
|||||||||
| CFO Transition Costs |
|
- |
|
|
(5 |
) |
|||||||||
| Inventory Step-Up |
|
- |
|
|
62 |
|
|||||||||
| Inventory Provision |
|
365 |
|
|
- |
|
|||||||||
| Restructuring Charges |
|
52 |
|
|
- |
|
|||||||||
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|||||||||
| Non-Recurring Legal Expenses |
|
258 |
|
|
- |
|
|||||||||
| Non-Recurring Proxy Costs |
|
210 |
|
|
- |
|
|||||||||
| Goodwill Impairment |
|
- |
|
|
13,403 |
|
|||||||||
| Adjusted EBITDA | $ |
3,306 |
|
$ |
2,794 |
|
|||||||||
| Revenue | $ |
37,536 |
|
$ |
37,361 |
|
|||||||||
| Net Income (Loss) Margin |
|
(3.0 |
)% |
|
(41.8 |
)% |
|||||||||
| Adjusted EBITDA Margin |
|
8.8 |
% |
|
7.5 |
% |
|||||||||
| Twelve Months Ended | 2H Fiscal 2026 and 1H 2026 | ||||||||||||||
| January 31, 2026 |
January 31, 2025 |
2H FY26 | 1H FY26 | ||||||||||||
| Net Income (Loss) | $ |
(2,376 |
) |
$ |
(14,489 |
) |
$ |
(757 |
) |
$ |
(1,619 |
) |
|||
| Interest Expense |
|
3,503 |
|
|
3,210 |
|
|
1,721 |
|
|
1,782 |
|
|||
| Income Tax Expense (Benefit) |
|
(160 |
) |
|
2,202 |
|
|
218 |
|
|
(378 |
) |
|||
| Depreciation & Amortization |
|
4,804 |
|
|
4,780 |
|
|
2,234 |
|
|
2,570 |
|
|||
| EBITDA | $ |
5,771 |
|
$ |
(4,297 |
) |
$ |
3,418 |
|
$ |
2,355 |
|
|||
| Share-Based Compensation |
|
2,310 |
|
|
1,378 |
|
|
1,505 |
|
|
805 |
|
|||
| MTEX-related Acquisition Expenses |
|
311 |
|
|
1,204 |
|
|
- |
|
|
311 |
|
|||
| CFO Transition Costs |
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
|||
| Inventory Step-Up |
|
61 |
|
|
216 |
|
|
- |
|
|
61 |
|
|||
| Inventory Provision |
|
724 |
|
|
- |
|
|
724 |
|
|
- |
|
|||
| Restructuring Charges |
|
1,357 |
|
|
- |
|
|
110 |
|
|
1,247 |
|
|||
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|||
| Non-Recurring Legal Expenses |
|
715 |
|
|
- |
|
|
646 |
|
|
69 |
|
|||
| Non-Recurring Proxy Costs |
|
738 |
|
|
- |
|
|
383 |
|
|
355 |
|
|||
| Realized Fx |
|
100 |
|
|
- |
|
|
100 |
|
|
- |
|
|||
| Other (Income) and Expense |
|
112 |
|
|
- |
|
|
112 |
|
|
- |
|
|||
| Goodwill Impairment |
|
297 |
|
|
13,403 |
|
|
297 |
|
|
- |
|
|||
| Adjusted EBITDA | $ |
12,681 |
|
$ |
12,336 |
|
$ |
7,478 |
|
$ |
5,203 |
|
|||
| Revenue | $ |
150,515 |
|
$ |
151,283 |
|
$ |
76,705 |
|
$ |
73,810 |
|
|||
| Net Income (Loss) Margin |
|
(1.6 |
)% |
|
(9.6 |
)% |
|
(1.0 |
)% |
|
(2.2 |
)% |
|||
| Adjusted EBITDA Margin |
|
8.4 |
% |
|
8.2 |
% |
|
9.7 |
% |
|
7.0 |
% |
|||
ASTRONOVA, INC. |
|||||||||||||||||||
Reconciliation of Segment Gross Profit and Margin to Non-GAAP Gross Profit and Margin |
|||||||||||||||||||
(Unaudited, $ in thousands) |
|||||||||||||||||||
|
|||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| January 31, 2026 | January 31, 2025 | ||||||||||||||||||
| Product ID |
Aerospace | Total | Product ID |
Aerospace | Total | ||||||||||||||
| Segment Gross Profit | $ |
7,088 |
|
$ |
4,237 |
|
$ |
11,325 |
|
$ |
8,237 |
|
$ |
3,989 |
|
$ |
12,226 |
|
|
| Inventory Step-Up |
|
- |
|
|
- |
|
|
- |
|
|
62 |
|
|
- |
|
|
62 |
|
|
| Inventory Provision |
|
54 |
|
|
311 |
|
|
365 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Restructuring Charges |
|
29 |
|
|
- |
|
|
29 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Non-GAAP - Segment Gross Profit | $ |
7,356 |
|
$ |
4,548 |
|
$ |
11,904 |
|
$ |
8,299 |
|
$ |
3,989 |
|
$ |
12,288 |
|
|
| Revenue | $ |
26,330 |
|
$ |
11,206 |
|
$ |
37,536 |
|
$ |
25,678 |
|
$ |
11,683 |
|
$ |
37,361 |
|
|
| Gross Profit Margin |
|
26.9 |
% |
|
37.8 |
% |
|
30.2 |
% |
|
32.1 |
% |
|
34.1 |
% |
|
32.7 |
% |
|
| Non-GAAP Segment Gross Profit Margin |
|
27.9 |
% |
|
40.6 |
% |
|
31.7 |
% |
|
32.3 |
% |
|
34.1 |
% |
|
32.9 |
% |
|
| Twelve Months Ended | |||||||||||||||||||
| January 31, 2026 | January 31, 2025 | ||||||||||||||||||
| Product ID |
Aerospace | Total | Product ID |
Aerospace | Total | ||||||||||||||
| Segment Gross Profit | $ |
29,837 |
|
$ |
17,797 |
|
$ |
47,634 |
|
$ |
32,571 |
|
$ |
18,087 |
|
$ |
50,658 |
|
|
| Inventory Step-Up |
|
61 |
|
|
- |
|
|
61 |
|
|
216 |
|
|
- |
|
|
216 |
|
|
| Inventory Provision |
|
724 |
|
|
- |
|
|
724 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Restructuring Charges |
|
202 |
|
|
165 |
|
|
367 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Non-GAAP - Segment Gross Profit | $ |
31,009 |
|
$ |
17,962 |
|
$ |
48,971 |
|
$ |
32,787 |
|
$ |
18,087 |
|
$ |
50,874 |
|
|
| Revenue | $ |
104,221 |
|
$ |
46,294 |
|
$ |
150,515 |
|
$ |
102,345 |
|
$ |
48,938 |
|
$ |
151,283 |
|
|
| Gross Profit Margin |
|
28.6 |
% |
|
38.4 |
% |
|
31.6 |
% |
|
31.8 |
% |
|
37.0 |
% |
|
33.5 |
% |
|
| Non-GAAP Segment Gross Profit Margin |
|
29.8 |
% |
|
38.8 |
% |
|
32.5 |
% |
|
32.0 |
% |
|
37.0 |
% |
|
33.6 |
% |
|
ASTRONOVA, INC. |
|||||||||||||||||||
Reconciliation of Segment Operating Profit and Margin to Non-GAAP Operating Profit and Margin |
|||||||||||||||||||
(Unaudited, $ in thousands) |
|||||||||||||||||||
|
|||||||||||||||||||
| Three Months Ended | |||||||||||||||||||
| January 31, 2026 | January 31, 2025 | ||||||||||||||||||
| Product ID |
Aerospace | Total | Product ID |
Aerospace | Total | ||||||||||||||
| Segment Operating Income (Loss) | $ |
(234 |
) |
$ |
2,337 |
|
$ |
2,103 |
|
$ |
(13,075 |
) |
$ |
1,886 |
|
$ |
(11,189 |
) |
|
| MTEX-related Acquisition Expenses |
|
- |
|
|
- |
|
|
- |
|
|
259 |
|
|
- |
|
|
259 |
|
|
| Inventory Step-Up |
|
- |
|
|
- |
|
|
- |
|
|
62 |
|
|
- |
|
|
62 |
|
|
| Inventory Provision |
|
54 |
|
|
311 |
|
|
365 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Restructuring Charges |
|
52 |
|
|
- |
|
|
52 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Non-Recurring Legal Expenses |
|
(181 |
) |
|
- |
|
|
(181 |
) |
|
- |
|
|
- |
|
|
- |
|
|
| Goodwill Impairment |
|
- |
|
|
- |
|
|
- |
|
|
13,403 |
|
|
- |
|
|
13,403 |
|
|
| Non-GAAP - Segment Operating Income (Loss) | $ |
(124 |
) |
$ |
2,648 |
|
$ |
2,524 |
|
$ |
649 |
|
$ |
1,886 |
|
$ |
2,535 |
|
|
| Revenue | $ |
26,330 |
|
$ |
11,206 |
|
$ |
37,536 |
|
$ |
25,678 |
|
$ |
11,683 |
|
$ |
37,361 |
|
|
| Operating Margin |
|
-0.9 |
% |
|
20.9 |
% |
|
5.6 |
% |
|
-50.9 |
% |
|
16.1 |
% |
|
-29.9 |
% |
|
| Non-GAAP Operating Margin |
|
-0.5 |
% |
|
23.6 |
% |
|
6.7 |
% |
|
2.5 |
% |
|
16.1 |
% |
|
6.8 |
% |
|
| Twelve Months Ended | |||||||||||||||||||
| January 31, 2026 | January 31, 2025 | ||||||||||||||||||
| Product ID |
Aerospace | Total | Product ID |
Aerospace | Total | ||||||||||||||
| Segment Operating Income (Loss) | $ |
(471 |
) |
$ |
9,763 |
|
$ |
9,292 |
|
$ |
(11,860 |
) |
$ |
9,088 |
|
$ |
(2,772 |
) |
|
| MTEX-related Acquisition Expenses |
|
311 |
|
|
- |
|
|
311 |
|
|
1,204 |
|
|
- |
|
|
1,204 |
|
|
| Inventory Step-Up |
|
61 |
|
|
- |
|
|
61 |
|
|
216 |
|
|
- |
|
|
216 |
|
|
| Inventory Provision |
|
724 |
|
|
- |
|
|
724 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Product Retrofit Costs |
|
185 |
|
|
- |
|
|
185 |
|
|
- |
|
|
- |
|
|
- |
|
|
| Restructuring Charges |
|
483 |
|
|
171 |
|
|
654 |
|
|
- |
|
|
- |
|
|
- |
|
|
|
- |
|
|||||||||||||||||
| Non-Recurring Legal Expenses |
|
(48 |
) |
|
- |
|
|
(48 |
) |
|
- |
|
|
- |
|
||||
| Goodwill Impairment |
|
297 |
|
|
- |
|
|
297 |
|
|
13,403 |
|
|
- |
|
|
13,403 |
|
|
| Non-GAAP - Segment Operating Income | $ |
1,542 |
|
$ |
9,934 |
|
$ |
11,476 |
|
$ |
2,963 |
|
$ |
9,088 |
|
$ |
12,051 |
|
|
| Revenue | $ |
104,221 |
|
$ |
46,294 |
|
$ |
150,515 |
|
$ |
102,345 |
|
$ |
48,938 |
|
$ |
151,283 |
|
|
| Operating Margin |
|
-0.5 |
% |
|
21.1 |
% |
|
6.2 |
% |
|
-11.6 |
% |
|
18.6 |
% |
|
-1.8 |
% |
|
| Non-GAAP Operating Margin |
|
1.5 |
% |
|
21.5 |
% |
|
7.6 |
% |
|
2.9 |
% |
|
18.6 |
% |
|
8.0 |
% |
|
ASTRONOVA INC. |
|||||||||||||||||||||||||||||||||||||
Reconciliation of Segment and Consolidated Net Income to Adjusted EBITDA (Past Quarters and Years) |
|||||||||||||||||||||||||||||||||||||
(Unaudited, $ in thousands) |
|||||||||||||||||||||||||||||||||||||
|
2024 |
|
|
Q1 25 |
Q2 25 |
Q3 25 |
Q4 25 |
FY25 |
|
Q1 26 |
Q2 26 |
Q3 26 |
Q4 26 |
FY26 |
|||||||||||||||||||||||
Aerospace |
Operating Income | $ |
8,240 |
|
$ |
1,108 |
|
$ |
3,302 |
|
$ |
2,792 |
|
$ |
1,886 |
|
$ |
9,088 |
|
$ |
1,980 |
|
$ |
1,666 |
|
$ |
3,780 |
|
$ |
2,338 |
|
$ |
9,763 |
|
|||
| Other |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Interest expense |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Profit Before Tax | $ |
8,240 |
|
|
1,108 |
|
|
3,302 |
|
|
2,792 |
|
|
1,886 |
|
$ |
9,088 |
|
|
1,980 |
|
|
1,666 |
|
|
3,780 |
|
|
2,338 |
|
$ |
9,763 |
|
||||
| Tax |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Net Income | $ |
8,240 |
|
|
1,108 |
|
|
3,302 |
|
|
2,792 |
|
|
1,886 |
|
$ |
9,088 |
|
|
1,980 |
|
|
1,666 |
|
|
3,780 |
|
|
2,338 |
|
$ |
9,763 |
|
||||
| Depreciation & Amortization |
|
1,873 |
|
|
374 |
|
|
378 |
|
|
365 |
|
|
365 |
|
|
1,482 |
|
|
373 |
|
|
368 |
|
|
363 |
|
|
360 |
|
|
1,464 |
|
||||
| Share-Based Compensation |
|
126 |
|
|
37 |
|
|
39 |
|
|
36 |
|
|
29 |
|
|
140 |
|
|
43 |
|
|
46 |
|
|
80 |
|
|
94 |
|
|
263 |
|
||||
| Inventory Provision |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
(311 |
) |
|
311 |
|
|
- |
|
||||
| Restructuring Charges |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
170 |
|
|
1 |
|
|
- |
|
|
- |
|
|
171 |
|
||||
| Adjusted EBITDA | $ |
10,239 |
|
$ |
1,519 |
|
$ |
3,719 |
|
$ |
3,193 |
|
$ |
2,279 |
|
$ |
10,710 |
|
$ |
2,566 |
|
$ |
2,081 |
|
$ |
3,911 |
|
$ |
3,104 |
|
$ |
11,662 |
|
||||
| Revenue | $ |
44,045 |
|
$ |
9,776 |
|
$ |
13,374 |
|
$ |
14,105 |
|
$ |
11,683 |
|
$ |
48,938 |
|
$ |
11,419 |
|
$ |
11,348 |
|
$ |
12,320 |
|
$ |
11,206 |
|
$ |
46,294 |
|
||||
| Adjusted EBITDA Margin |
|
23.2 |
% |
|
15.5 |
% |
|
27.8 |
% |
|
22.6 |
% |
|
19.5 |
% |
|
21.9 |
% |
|
22.5 |
% |
|
18.3 |
% |
|
31.7 |
% |
|
27.7 |
% |
|
25.2 |
% |
||||
|
2024 |
|
|
Q1 25 |
Q2 25 |
Q3 25 |
Q4 25 |
FY25 |
|
Q1 26 |
Q2 26 |
Q3 26 |
Q4 26 |
FY26 |
|||||||||||||||||||||||
| Product ID | Operating Income | $ |
5,325 |
|
$ |
1,449 |
|
$ |
(121 |
) |
$ |
(113 |
) |
$ |
(13,075 |
) |
$ |
(11,860 |
) |
$ |
259 |
|
$ |
(192 |
) |
$ |
(304 |
) |
$ |
(234 |
) |
$ |
(471 |
) |
|||
| Other |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Interest expense |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Profit Before Tax | $ |
5,325 |
|
|
1,449 |
|
|
(121 |
) |
|
(113 |
) |
|
(13,075 |
) |
$ |
(11,860 |
) |
|
259 |
|
|
(192 |
) |
|
(304 |
) |
|
(234 |
) |
$ |
(471 |
) |
||||
| Tax |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Net Income | $ |
5,325 |
|
|
1,449 |
|
|
(121 |
) |
|
(113 |
) |
|
(13,075 |
) |
$ |
(11,860 |
) |
|
259 |
|
|
(192 |
) |
|
(304 |
) |
|
(234 |
) |
$ |
(471 |
) |
||||
| Interest expense |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Tax |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Depreciation & Amortization |
|
2,378 |
|
|
532 |
|
|
921 |
|
|
929 |
|
|
896 |
|
|
3,279 |
|
|
913 |
|
|
909 |
|
|
489 |
|
|
1,013 |
|
|
3,322 |
|
||||
| Share-Based Compensation |
|
317 |
|
|
64 |
|
|
74 |
|
|
94 |
|
|
75 |
|
|
308 |
|
|
(7 |
) |
|
86 |
|
|
88 |
|
|
207 |
|
|
373 |
|
||||
| MTEX-related Acquisition Expenses |
|
- |
|
|
- |
|
|
625 |
|
|
325 |
|
|
254 |
|
|
1,204 |
|
|
337 |
|
|
(26 |
) |
|
- |
|
|
- |
|
|
311 |
|
||||
| Inventory Step-Up |
|
- |
|
|
- |
|
|
120 |
|
|
34 |
|
|
62 |
|
|
216 |
|
|
61 |
|
|
- |
|
|
- |
|
|
- |
|
|
61 |
|
||||
| Inventory Provision |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
670 |
|
|
54 |
|
|
724 |
|
||||
| Restructuring Charges |
|
2,494 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
339 |
|
|
94 |
|
|
(2 |
) |
|
52 |
|
|
483 |
|
||||
| Product Retrofit Costs |
|
642 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
185 |
|
|
185 |
|
||||
| Non-Recurring Legal Expenses |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
134 |
|
|
(182 |
) |
|
(48 |
) |
||||
| Goodwill Impairment |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
13,403 |
|
|
13,403 |
|
|
- |
|
|
- |
|
|
297 |
|
|
- |
|
|
297 |
|
||||
| Adjusted EBITDA | $ |
11,156 |
|
$ |
2,046 |
|
$ |
1,619 |
|
$ |
1,269 |
|
$ |
1,615 |
|
$ |
6,550 |
|
$ |
1,902 |
|
$ |
870 |
|
$ |
1,371 |
|
$ |
1,095 |
|
$ |
5,238 |
|
||||
| Revenue | $ |
104,041 |
|
$ |
23,185 |
|
$ |
27,165 |
|
$ |
26,317 |
|
$ |
25,679 |
|
$ |
102,345 |
|
$ |
26,289 |
|
$ |
24,754 |
|
$ |
26,849 |
|
$ |
26,330 |
|
$ |
104,221 |
|
||||
| Adjusted EBITDA Margin |
|
10.7 |
% |
|
8.8 |
% |
|
6.0 |
% |
|
4.8 |
% |
|
6.3 |
% |
|
6.4 |
% |
|
7.2 |
% |
|
3.5 |
% |
|
5.1 |
% |
|
4.2 |
% |
|
5.0 |
% |
||||
|
2024 |
|
|
Q1 25 |
Q2 25 |
Q3 25 |
Q4 25 |
FY25 |
|
Q1 26 |
Q2 26 |
Q3 26 |
Q4 26 |
FY26 |
|||||||||||||||||||||||
| Corporate | Operating Income | $ |
(4,768 |
) |
$ |
(1,211 |
) |
$ |
(2,120 |
) |
$ |
(1,416 |
) |
$ |
(1,122 |
) |
$ |
(5,869 |
) |
$ |
(1,668 |
) |
$ |
(2,181 |
) |
$ |
(2,187 |
) |
$ |
(2,050 |
) |
$ |
(8,087 |
) |
|||
| Other |
|
26 |
|
|
118 |
|
|
173 |
|
|
46 |
|
|
100 |
|
|
437 |
|
|
(24 |
) |
|
104 |
|
|
210 |
|
|
(51 |
) |
|
239 |
|
||||
| Interest expense |
|
2,697 |
|
|
482 |
|
|
938 |
|
|
944 |
|
|
847 |
|
|
3,210 |
|
|
897 |
|
|
885 |
|
|
827 |
|
|
894 |
|
|
3,503 |
|
||||
| Profit Before Tax | $ |
(7,491 |
) |
|
(1,811 |
) |
|
(3,231 |
) |
|
(2,406 |
) |
|
(2,069 |
) |
$ |
(9,516 |
) |
|
(2,541 |
) |
|
(3,170 |
) |
|
(3,224 |
) |
|
(2,893 |
) |
$ |
(11,829 |
) |
||||
| Tax |
|
1,379 |
|
|
(434 |
) |
|
261 |
|
|
34 |
|
|
2,342 |
|
|
2,203 |
|
|
75 |
|
|
(454 |
) |
|
(128 |
) |
|
346 |
|
|
(161 |
) |
||||
| Net Income | $ |
(8,870 |
) |
|
(1,377 |
) |
|
(3,492 |
) |
|
(2,440 |
) |
|
(4,411 |
) |
$ |
(11,719 |
) |
|
(2,616 |
) |
|
(2,716 |
) |
|
(3,096 |
) |
|
(3,239 |
) |
$ |
(11,668 |
) |
||||
| Interest expense |
|
2,697 |
|
|
482 |
|
|
938 |
|
|
944 |
|
|
847 |
|
|
3,210 |
|
|
897 |
|
|
885 |
|
|
827 |
|
|
894 |
|
|
3,503 |
|
||||
| Tax |
|
1,379 |
|
|
(434 |
) |
|
261 |
|
|
36 |
|
|
2,342 |
|
|
2,205 |
|
|
75 |
|
|
(454 |
) |
|
(128 |
) |
|
346 |
|
|
(161 |
) |
||||
| Depreciation & Amortization |
|
15 |
|
|
4 |
|
|
4 |
|
|
6 |
|
|
4 |
|
|
19 |
|
|
4 |
|
|
4 |
|
|
5 |
|
|
5 |
|
|
18 |
|
||||
| EBITDA | $ |
(4,779 |
) |
|
(1,324 |
) |
|
(2,289 |
) |
|
(1,454 |
) |
|
(1,218 |
) |
$ |
(6,285 |
) |
|
(1,640 |
) |
|
(2,282 |
) |
|
(2,392 |
) |
|
(1,994 |
) |
$ |
(8,308 |
) |
||||
| Share-Based Compensation |
|
903 |
|
|
223 |
|
|
368 |
|
|
222 |
|
|
116 |
|
|
929 |
|
|
270 |
|
|
367 |
|
|
586 |
|
|
449 |
|
|
1,673 |
|
||||
| CFO Transition Costs |
|
- |
|
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Restructuring Charges |
|
82 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
49 |
|
|
595 |
|
|
60 |
|
|
- |
|
|
703 |
|
||||
| Non-Recurring Legal Expenses |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
69 |
|
|
254 |
|
|
440 |
|
|
763 |
|
||||
| Non-Recurring Proxy Costs |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
355 |
|
|
172 |
|
|
210 |
|
|
738 |
|
||||
| Realized Fx |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
100 |
|
|
- |
|
|
100 |
|
||||
| Other (Income) and Expense |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
112 |
|
|
- |
|
|
112 |
|
||||
| Adjusted EBITDA | $ |
(3,794 |
) |
$ |
(1,101 |
) |
$ |
(1,489 |
) |
$ |
(1,232 |
) |
$ |
(1,102 |
) |
$ |
(4,924 |
) |
$ |
(1,321 |
) |
$ |
(896 |
) |
$ |
(1,108 |
) |
$ |
(895 |
) |
$ |
(4,220 |
) |
||||
|
2024 |
|
|
Q1 25 |
Q2 25 |
Q3 25 |
Q4 25 |
FY25 |
|
Q1 26 |
Q2 26 |
Q3 26 |
Q4 26 |
FY26 |
|||||||||||||||||||||||
| AstroNova Consolidated | Operating Income | $ |
8,796 |
|
$ |
1,346 |
|
$ |
1,061 |
|
$ |
1,263 |
|
$ |
(12,311 |
) |
$ |
(8,641 |
) |
$ |
571 |
|
$ |
(708 |
) |
$ |
1,288 |
|
$ |
55 |
|
$ |
1,207 |
|
|||
| Other |
|
26 |
|
|
118 |
|
|
173 |
|
|
46 |
|
|
100 |
|
|
437 |
|
|
(24 |
) |
|
104 |
|
|
210 |
|
|
(51 |
) |
|
239 |
|
||||
| Interest expense |
|
2,697 |
|
|
482 |
|
|
938 |
|
|
944 |
|
|
847 |
|
|
3,210 |
|
|
897 |
|
|
885 |
|
|
827 |
|
|
894 |
|
|
3,503 |
|
||||
| Profit Before Tax | $ |
6,073 |
|
|
746 |
|
|
(50 |
) |
|
273 |
|
|
(13,258 |
) |
$ |
(12,288 |
) |
|
(302 |
) |
|
(1,697 |
) |
|
251 |
|
|
(789 |
) |
$ |
(2,536 |
) |
||||
| Tax |
|
1,379 |
|
|
(434 |
) |
|
261 |
|
|
34 |
|
|
2,342 |
|
|
2,202 |
|
|
75 |
|
|
(454 |
) |
|
(128 |
) |
|
346 |
|
|
(161 |
) |
||||
| Net Income | $ |
4,694 |
|
|
1,180 |
|
|
(311 |
) |
|
239 |
|
|
(15,600 |
) |
$ |
(14,490 |
) |
|
(377 |
) |
|
(1,243 |
) |
|
379 |
|
|
(1,134 |
) |
$ |
(2,374 |
) |
||||
| Interest expense |
|
2,697 |
|
|
482 |
|
|
938 |
|
|
944 |
|
|
847 |
|
|
3,210 |
|
|
897 |
|
|
885 |
|
|
827 |
|
|
894 |
|
|
3,503 |
|
||||
| Tax |
|
1,379 |
|
|
(434 |
) |
|
261 |
|
|
36 |
|
|
2,342 |
|
|
2,202 |
|
|
75 |
|
|
(454 |
) |
|
(128 |
) |
|
346 |
|
|
(161 |
) |
||||
| Depreciation & Amortization |
|
4,266 |
|
|
911 |
|
|
1,304 |
|
|
1,300 |
|
|
1,266 |
|
|
4,780 |
|
|
1,290 |
|
|
1,280 |
|
|
856 |
|
|
1,379 |
|
|
4,805 |
|
||||
| EBITDA | $ |
13,036 |
|
|
2,139 |
|
|
2,191 |
|
|
2,519 |
|
|
(11,146 |
) |
$ |
(4,297 |
) |
|
1,885 |
|
|
469 |
|
|
1,934 |
|
|
1,485 |
|
$ |
5,773 |
|
||||
| Share-Based Compensation |
|
1,347 |
|
|
325 |
|
|
481 |
|
|
352 |
|
|
219 |
|
|
1,378 |
|
|
306 |
|
|
499 |
|
|
754 |
|
|
751 |
|
|
2,310 |
|
||||
| MTEX-related Acquisition Expenses |
|
- |
|
|
- |
|
|
625 |
|
|
325 |
|
|
254 |
|
|
1,204 |
|
|
337 |
|
|
(26 |
) |
|
- |
|
|
- |
|
|
311 |
|
||||
| CFO Transition Costs |
|
- |
|
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
|
432 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
||||
| Inventory Step-Up |
|
- |
|
|
- |
|
|
120 |
|
|
34 |
|
|
62 |
|
|
216 |
|
|
61 |
|
|
- |
|
|
- |
|
|
- |
|
|
61 |
|
||||
| Inventory Provision |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
359 |
|
|
365 |
|
|
724 |
|
||||
| Restructuring Charges |
|
2,576 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
558 |
|
|
689 |
|
|
59 |
|
|
52 |
|
|
1,357 |
|
||||
| Product Retrofit Costs |
|
642 |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
185 |
|
|
185 |
|
||||
| Non-Recurring Legal Expenses |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
69 |
|
|
387 |
|
|
258 |
|
|
715 |
|
||||
| Non-Recurring Proxy Costs |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
355 |
|
|
172 |
|
|
210 |
|
|
738 |
|
||||
| Realized Fx |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
100 |
|
|
- |
|
|
100 |
|
||||
| Other (Income) and Expense |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
112 |
|
|
- |
|
|
112 |
|
||||
| Goodwill Impairment |
|
- |
|
|
- |
|
|
- |
|
|
- |
|
|
13,403 |
|
|
13,403 |
|
|
- |
|
|
- |
|
|
297 |
|
|
- |
|
|
297 |
|
||||
| Adjusted EBITDA | $ |
17,601 |
|
$ |
2,463 |
|
$ |
3,849 |
|
$ |
3,230 |
|
$ |
2,793 |
|
$ |
12,336 |
|
$ |
3,146 |
|
$ |
2,056 |
|
$ |
4,175 |
|
$ |
3,306 |
|
$ |
12,681 |
|
||||
| Revenue | $ |
148,086 |
|
$ |
32,961 |
|
$ |
40,539 |
|
$ |
40,422 |
|
$ |
37,361 |
|
$ |
151,283 |
|
$ |
37,708 |
|
$ |
36,102 |
|
$ |
39,169 |
|
$ |
37,536 |
|
$ |
150,515 |
|
||||
| Adjusted EBITDA Margin |
|
11.9 |
% |
|
7.5 |
% |
|
9.5 |
% |
|
8.0 |
% |
|
7.5 |
% |
|
8.2 |
% |
|
8.3 |
% |
|
5.7 |
% |
|
10.7 |
% |
|
8.8 |
% |
|
8.4 |
% |
||||
View source version on businesswire.com: https://www.businesswire.com/news/home/20260413909181/en/
Deborah Pawlowski, IRC, Alliance Advisors
Email: [email protected]
Phone: 716.843.3908
Source: AstroNova, Inc.