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2月前
AstroNova Reports Fourth-Quarter and Full-Year Fiscal 2026 Financial ResultsApril 13, 2026 4:30 PM
Business Wire
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
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: dpawlowski@allianceadvisors.com
Phone: 716.843.3908
Original: AstroNova Reports Fourth-Quarter and Full-Year Fiscal 2026 Financial Results
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