AstroNova(US:ALOT)2024-09-16 11:41Financial Performance - Revenue for Q2 FY 2025 was $40.5 million, representing a 14.1% increase year over year[1] - Gross margin improved to 35.3%, up 800 basis points from the previous year; non-GAAP gross margin remained at 35.6%[1] - Operating income was $1.1 million, with non-GAAP operating income at $2.2 million[1] - Net loss per share decreased to $(0.04) from $(0.22) in Q2 FY 2024; non-GAAP diluted earnings per share was $0.08 compared to $0.15[1] - Adjusted EBITDA for the quarter was $3.9 million, a 5.3% increase year over year[1] - Bookings for Q2 FY 2025 were $35.8 million, up from $30.1 million in the same period last year[6] - Net revenue for the three months ended August 3, 2024, was $40,539 thousand, a 14.2% increase from $35,524 thousand in the same period of 2023[18] - Gross profit for the six months ended August 3, 2024, was $26,298 thousand, representing a 19.9% increase from $22,096 thousand in the prior year[18] - Operating income for the three months ended August 3, 2024, was $1,061 thousand, a significant recovery from an operating loss of $1,198 thousand in the same period of 2023[18] - Net income for the six months ended August 3, 2024, was $869 thousand, compared to a net loss of $769 thousand in the same period of 2023[21] - Adjusted EBITDA for the six months ended August 3, 2024, was $6,314,000, compared to $6,710,000 for the same period last year[30] Segment Performance - Product Identification segment revenue increased by over 5% year-over-year, while Test & Measurement segment revenue grew by 37% sequentially and year-over-year[2] - Segment operating profit for the Product Identification segment was $2,348,000, compared to a loss of $461,000 in the prior year[22] - Total Segment Operating Profit for the six months ended July 29, 2023, was $10,895 million, down from $6,044 million in the previous year, indicating a decline of 44.5%[32] - Non-GAAP Segment Operating Profit for the six months ended August 3, 2024, was $11,015 million, compared to $9,464 million for the same period in 2023, representing an increase of 16.4%[32] - The Test & Measurement segment reported an Operating Profit of $1,917 million for the three months ended July 29, 2023, compared to $3,989 million for the same period in 2024, a decrease of 52.0%[32] Acquisition Impact - The integration of the MTEX NS acquisition generated $0.8 million in revenue and an operating loss of $1.4 million during the quarter[3] - The company expects MTEX to contribute $8 million to $10 million in revenue for the full fiscal year 2025[3] - The company completed the acquisition of MTEX, resulting in a cash outflow of $20,729 thousand for the six months ended August 3, 2024[21] Financial Position - Total assets increased to $169,017 thousand as of August 3, 2024, up from $133,251 thousand at the end of January 2024[19] - Current liabilities rose to $44,519 thousand as of August 3, 2024, compared to $29,761 thousand at the end of January 2024[19] - Cash provided by operating activities for the six months ended August 3, 2024, was $7,066 thousand, an increase from $4,718 thousand in the prior year[21] Future Guidance - Adjusted EBITDA margin estimate for FY 2025 has been reduced to 9% to 10%, with expectations of 13% to 14% in FY 2026[4] - The company is focusing on market expansion and new product development as part of its strategic initiatives moving forward[32] - Future guidance indicates a cautious outlook with emphasis on cost management and operational efficiency improvements[32]