T-Mobile Park updates cover 11,300+ square feet of digital canvas in the outfield for video, replays and more BROOKINGS, S.D., March 25, 2026 (GLOBE NEWSWIRE) -- Continuing to evolve the digital display experience at T-Mobile Park, the Seattle Mariners have turned to Daktronics (NASDAQ: DAKT) of Brookings, South Dakota, to manufacture and install an upgraded outfield video display, now named Mariners Fire TV, totaling more than 11,300 square feet. The size remains squarely in the top 10 in baseball’s major ...

Installation of nearly 9,600 square feet of video display represents a 52% increase for the 2026 season BROOKINGS, S.D., March 24, 2026 (GLOBE NEWSWIRE) -- Daktronics (NASDAQ: DAKT) of Brookings, South Dakota, has partnered with the Arizona Diamondbacks to design, manufacture and install the largest LED video display in Arizona and three ribbon boards at Chase Field in Phoenix ahead of the 2026 baseball season. The video display in center field will total nearly 9,600 square feet of digital canvas, a 52% in ...

8,300+ square feet of displays refreshed for the 2026 regular season with improved video board resolution BROOKINGS, S.D., March 23, 2026 (GLOBE NEWSWIRE) -- Daktronics (NASDAQ: DAKT) of Brookings, South Dakota, is bringing bolder, brighter moments to fans at historic Wrigley Field in Chicago, Illinois, through an LED display refresh. Eight LED displays, totaling more than 8,300 square feet, will bring improved resolution to the ballpark with the Daktronics Renew product line, adding more than 1.4 million L ...

BROOKINGS, S.D., March 18, 2026 (GLOBE NEWSWIRE) -- Daktronics Inc. (Nasdaq: DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, announced that its Chief Executive Officer and President, Ramesh Jayaraman, and Acting Chief Financial Officer, Howard Atkins, will represent the company at the 38th Annual Roth Conference in Dana Point, CA, where they will conduct one-on-one investor meetings on March 23–24, 202 ...

Core Insights - Crude Value Insights provides an investment service and community focused on the oil and natural gas sectors, emphasizing cash flow generation and growth potential [1] Group 1 - The service offers subscribers access to a model account with over 50 stocks, detailed cash flow analyses of exploration and production (E&P) firms, and live discussions about the sector [1]

Core Insights - Daktronics, Inc. will host its 2026 Investor Day on April 9 at the NASDAQ MarketSite in Times Square, focusing on strategies for profitable growth and operational excellence [1][2] Group 1: Event Details - The event will feature presentations from the new president and CEO Ramesh Jayaraman and the executive leadership team, starting at 8:30 a.m. ET and concluding around 12:30 p.m. ET, followed by a lunch and Q&A session [2] - Institutional investors and analysts must register in advance to attend in person by contacting Investor Relations [3] Group 2: Webcast Information - A live webcast of the event will be available on the Investor Relations section of the company's website, with archived materials also accessible [4] Group 3: Company Overview - Daktronics specializes in large-format LED video displays, message displays, scoreboards, digital billboards, and control systems for various applications, having established itself as a leader in audio-visual systems since its founding in 1968 [5]

Core Insights - Daktronics reported a revenue growth of 21.6% year-over-year for Q3 2026, despite challenges such as a shorter work period due to three major holidays and adverse weather conditions [2]. Group 1: Financial Performance - The company has a strong backlog of $342 million, indicating robust future revenue potential [2]. - The live events pipeline is described as robust, suggesting ongoing demand for Daktronics' products and services [2].

Financial Performance - Net sales for the three months ended January 31, 2026, were $181.9 million, representing a 21.6% increase compared to $149.5 million for the same period in 2025[151]. - Gross profit for the same period was $43.6 million, with a gross margin of 24.0%, down from 24.6% in the prior year[151]. - Operating income improved to $1.9 million for the three months ended January 31, 2026, compared to an operating loss of $3.6 million in the same period last year[151]. - Net income for the quarter was $3.0 million, a significant turnaround from a net loss of $17.2 million in the prior year, marking a 117.5% improvement[151]. - Diluted earnings per share were $0.06, compared to a loss of $0.36 per share in the same quarter of the previous year[151]. - Net sales for the first nine months of fiscal 2026 increased to $630.1 million, a 7.9% increase from $583.9 million in the same period of fiscal 2025[171]. - Operating income increased by 34.1% to $46.8 million for the first nine months of fiscal 2026, up from $34.9 million in the same period last year[171]. - Net income for the first nine months of fiscal 2026 was $37.0 million, a significant turnaround from a net loss of $0.7 million in the same period of fiscal 2025[183]. - Diluted earnings per share for the first nine months of fiscal 2026 was $0.75, compared to a loss of $0.01 per share in the prior year[183]. Order Backlog and Bookings - As of January 31, 2026, the product order backlog was $342.3 million, up from $273.2 million on January 25, 2025, reflecting a year-over-year increase of 25.4%[149]. - Total orders for the quarter were $201.1 million, an increase of 7.6% from $186.9 million in the prior year[151]. - Order bookings increased by 18.1% to $638.8 million in the first nine months of fiscal 2026, up from $540.7 million in the same period of fiscal 2025[171]. - Orders for the first nine months of fiscal 2026 totaled $638.8 million, compared to $540.7 million in the same period of fiscal 2025, reflecting a strong demand across various segments[185]. Expenses and Costs - Selling expenses increased primarily due to higher personnel-related wages and benefits, while general and administrative expenses decreased from $4.8 million in fiscal 2025 to $2.1 million in fiscal 2026[156][157]. - Product design and development expenses rose due to higher staffing costs and investments in advanced technologies and engineering services[158]. - Selling expenses rose to $48.2 million, a 7.6% increase from $44.8 million in the same period last year, primarily due to higher personnel-related costs[176]. - General and administrative expenses increased to $43.9 million, including $2.5 million for management transition and acquisition costs[177]. Tax and Interest - The effective tax rate for the third quarter of fiscal 2026 was 14.3%, compared to 3.7% in the same period last year, influenced by discrete tax benefits and a reversal of a valuation allowance[162]. - The effective tax rate for the first nine months of fiscal 2026 was 22.3%, significantly lower than 109.2% in the same period of fiscal 2025 due to the absence of fair value adjustments on the Convertible Note[182]. - Interest income increased due to higher cash levels invested in interest-bearing accounts, contrasting with interest expenses from the convertible note in the previous year[159]. Strategic Initiatives and Investments - The company is expanding its global manufacturing network into Mexico, with the new facility expected to be operational by the end of fiscal 2026[143]. - The business transformation program aims for revenue growth that outpaces the addressable market, targeting operating margins of 10-12% and returns on capital of 17-20%[142]. - The company plans to invest approximately $15.1 million in capital expenditures for fiscal 2026 to support new product lines and increased production capacity[203]. - The company is evaluating strategic investments in new technologies and potential acquisitions aligned with its business strategy on a quarterly basis[204]. Cash Flow and Financial Position - Net cash provided by operating activities decreased to $54.3 million in the first nine months of fiscal 2026 from $74.8 million in the same period of fiscal 2025, primarily due to an increase in accounts receivable[191]. - The company experienced a net increase in cash, cash equivalents, and restricted cash of $16.9 million in the first nine months of fiscal 2026, down from $50.5 million in the prior year[191]. - As of January 31, 2026, the company had $144.4 million in cash and cash equivalents, which is expected to be sufficient to fund operations for at least the next 12 months[197]. - Working capital increased by $24.8 million to $234.2 million as of January 31, 2026, driven by increases in cash and cash equivalents and accounts receivable[199]. Compliance and Governance - Daktronics, Inc. filed its Certificate of Incorporation and Bylaws on April 17, 2025, as part of its compliance with SEC regulations[229]. - The company entered into a Credit Agreement on November 26, 2025, with JPMorgan Chase Bank, N.A., indicating ongoing financial activities[229]. - A Separation and Release Agreement was effective as of January 31, 2026, involving Carla S. Gatzke, reflecting changes in management or personnel[229]. - The Chief Financial Officer, Howard I. Atkins, signed the report on March 4, 2026, confirming the accuracy of financial disclosures[230].

Core Insights - Daktronics reported strong third-quarter fiscal 2026 results with revenue growth of 21.6% year-over-year, totaling approximately $182 million despite seasonal challenges [2][3][6] - The company achieved a backlog of $342 million, which is 25% higher than the same period last year, driven by robust order activity above $200 million [6][21] - Strategic investments include the acquisition of IP and engineering talent from X Display Company to enhance micro-LED capabilities and a share repurchase program [4][15][18] Revenue and Order Momentum - Revenue increased by 21.6% year-over-year to about $182 million, attributed to efficient order conversion and additional shifts by manufacturing teams [2][6] - Orders remained consistently above $200 million for the quarter, with a notable record in Transportation bookings, which rose 130% year-over-year [6][7] - The Live Events segment continues to show strong performance, with the company winning all six major MLB projects in fiscal 2026 [1][6] Margins and Profitability - Gross margin was flat year-over-year at 24%, but decreased sequentially from 27% due to fixed-cost absorption and approximately $6 million in tariff expenses [5][11][12] - Net income for the quarter was $3 million, or $0.06 per share, with adjusted net income of $4.6 million after accounting for one-time costs [5][13] Strategic Investments and Capital Allocation - Daktronics acquired intellectual property and engineering teams from XDC to enhance its micro LED capabilities, aiming for cost-effective solutions in small-volume opportunities [4][15] - The company repurchased around 1.3 million shares at a volume-weighted average price of $17.60, with $17 million remaining in repurchase authorization [4][18] - Cash reserves at the end of the quarter were $144 million, reflecting a 13% increase from the previous year, with no borrowings [4][18] Leadership Transition and Outlook - Ramesh Jayaraman, the new CEO, is focusing on building a resilient platform for sustainable growth and has noted strong momentum heading into the final quarter [20][21] - Management anticipates a good finish to the year, supported by elevated backlog and a strong pipeline of projects [21]

Financial Data and Key Metrics Changes - The company reported a revenue growth of 21.6% year-over-year, reaching $182 million in the third quarter of fiscal 2026 [4][14] - Net income after tax was $3 million, or $0.06 per fully diluted share, with adjusted net income rising to $4.6 million [16][17] - Gross profit margin remained flat at 24%, impacted by a mix of lower-margin Live Events projects and additional tariff expenses of $6 million [15][16] Business Line Data and Key Metrics Changes - The Live Events segment secured significant projects, including six Major League Baseball projects, contributing to a robust order pipeline [5][8] - The Transportation segment achieved a record order growth of 130% year-over-year, with notable projects from major airports [9][10] - The backlog of products and services grew to $342 million, a 25% increase from the previous year, primarily driven by Live Events [6][21] Market Data and Key Metrics Changes - The international business saw a decline compared to last year, but there were sizable orders from stadium customers in Spain and Australia [10] - The high school market experienced a solid year with a 13.4% order growth, driven by the transition to video scoreboards [11] Company Strategy and Development Direction - The company is focusing on innovation, with plans for new product launches, including next-generation indoor video solutions and digital audio facades [12] - Strategic price adjustments and the development of software-as-a-service initiatives are aimed at enhancing customer engagement and recurring revenue [13] - The company is committed to operational excellence and adapting to market changes, with a focus on cash resilience and flexibility [44][24] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the strong momentum and demand in the market, with a positive outlook for the final quarter of fiscal 2026 [30] - The sentiment among customers remains strong, with ongoing projects being well-funded and moving forward [53] - The company is actively monitoring geopolitical risks and maintaining adaptability in its operations [44] Other Important Information - The company announced the acquisition of intellectual property and engineering teams from X Display Company, enhancing its capabilities in micro LED technology [7] - The cash balance at the end of the quarter was $144 million, reflecting a 13% increase from the previous year [24] Q&A Session Summary Question: Can you discuss the win rates and pipeline for Live Events? - The company reported a strong pipeline and win rate, achieving 6 for 6 on Major League Baseball projects, with a robust backlog [33][34] Question: What is the status of the commercial market and reseller channels? - Demand trends in the commercial market remain strong, with continued growth in the reseller and AV integrator channels [36][40] Question: How are operational initiatives impacting margins? - The company is well into the realization of benefits from operational initiatives, with a focus on building these into strategic planning [42][43] Question: What is the status of the Mexico facility? - The Mexico facility is on track to be operational by the first quarter of FY 2027, with no significant impact on gross margins expected [51] Question: How is the sentiment among customers changing amid uncertainty? - The sentiment remains positive, with projects moving forward and being well-funded, particularly in the US market [53] Question: What are the company's M&A plans? - The company is exploring opportunities for strategic acquisitions that align with its financial return criteria and operational capabilities [54][55]