Astronova, Inc. · NASDAQ:ALOT
Astronova — Q2 2025 Earnings Presentation
18 slides from Astronova's earnings presentation, Sep 16, 2024
Slide 1: 2nd Quarter Fiscal 2025 Financial Results
2nd Quarter Fiscal 2025 Financial Results September 16, 2024
Slide 2: Forward-Looking Statements
Forward-Looking Statements Information included in this presentation 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 concer
Slide 3: Agenda and Speakers
Agenda and Speakers 01 CEO Commentary Greg Woods 02 Operating Highlights President and Chief Executive Officer 03 Q2 FY25 Financial Review 04 Closing Comments Tom DeByle VP and Chief Financial Officer 05 Q&A 3
Slide 4: CEO Commentary
CEO Commentary Solid quarter highlighted by strong demand and top-line growth • Total revenue increased 14.1%, driven by growth in both segments • T&M segment posts 37.2% revenue growth, driven by Aerospace product line • Benefit from continued rebound of commercial aviation market • Product Identif
Slide 5: Product Identification Segment
Product Identification Segment ($M) Key Messages $30 $27.2 • Q2 FY25 PI revenue excluding MTEX up 2.4% $26.4 $25.8 and non-GAAP operating profit excluding $25 MTEX up 22.5% $20 • PI revenue expected to benefit in Q3 and Q4 from MTEX and new product shipments $15 $10 $5 $3.6 $3.6 $2.3 $2.5 $3.0 $0.8
Slide 6: Test & Measurement Segment
Test & Measurement Segment Key Messages Revenue ($M) • Aerospace and T&M product lines showed strong growth +37.2% • Q2 FY25 included $1.3 million in revenue and $1.0 million in operating profit related to non-recurring items • Looking forward, both product lines have momentum $13.4 GAAP Operating P
Slide 7: Revenue by Category and Geography
Revenue by Category and Geography Supplies strong part of AstroNova recurring revenue stream Revenue by Category Revenue by Geography 12.8% 13.0% 9.4% 8.9% 8.8% 8.7% 14.4% 15.4% 25.2% 28.0% 26.1% 27.9% 30.5% 31.7% 28.9% 32.3% 65.4% 63.1% 65.1% 63.4% 55.1% 55.5% 55.8% 54.7% Q2 FY25 Q2 FY24 YTD FY25 Y
Slide 8: New Products Featured at PRINTING United Expo
New Products Featured at PRINTING United Expo AstroNova showcases groundbreaking products QuickLabel QL-1200S MULTI 800 DTF-PF DTF-UV 8
Slide 9: Q2 FY25 Financial Results
Q2 FY25 Financial Results GAAP Non-GAAP ($ in millions, except per share data) Q2 FY25 Q2 FY24 YoY Q2 FY25 Q2 FY24 YoY Revenue $40.5 $35.5 14.1% Gross Profit $14.3 $9.7 47.5% $14.4 $12.7 14.1% Gross Margin 35.3% 27.3% 800 pts 35.6% 35.6% -- Operating Expenses $13.3 $10.9 21.6% $12.2 $10.4 17.9% Oper
Slide 10: Balance Sheet and Debt
Balance Sheet and Debt Q2 FY25 Q1 FY25 Q2 FY25 Q1 FY25 ($ in millions) 8/3/2024 4/27/2024 ($ in millions) 8/3/2024 4/27/2024 Funded Debt $45.6 $15.5 Cash $4.8 $4.0 Long Term Debt $22.7 $9.3 Revolver $30.5 $25.0 Cash $4.8 $4.0 Drawn $13.4 $3.4 Net Debt $40.8 $11.5 Available $17.1 $21.6 Shareholder Eq
Slide 11: Free Cash Flow
Free Cash Flow Q2 Q2 YTD YTD ($ in thousands, except FCF per share) FY25 FY24 FY25 FY24 Free Cash Flow $14,000 $12,957 Net Cash Provided by Operating $12,000 $11,479 Activities $163 $2,076 $7,066 $4,718 Less: Capital Expenditures (338) (446) (830) (494) $10,000 Free Cash Flow ($175) $1,630 $6,236 $4
Slide 12: FY'25 Financial Targets and Outlook
FY’25 Financial Targets and Outlook Revising full-year Adjusted EBITDA guidance 1 Mid-single-digit organic revenue percentage growth 2 FY 2025 Adjusted EBITDA margin of 9% to 10% Targeting Adjusted EBITDA margin to be in the range 3 of 13% to 14% in FY26 12
Slide 13: Wrap up
Wrap up Markets are growing Launching new products in PI Segment Strong momentum in T&M Segment MTEX integration and leveraging technology Solid balance sheet Great team with dedicated employees 13
Slide 14: Appendix
Appendix 4 AstroNova 14
Slide 15: Reconciliation of GAAP to Non-GAAP Items
Reconciliation of GAAP to Non-GAAP Items ASTRONOVA, INC. Reconciliation of GAAP to Non-GAAP Items In Thousands Except for Per Share Data (Unaudited) ASTRONOVA, INC. Six Months Ended Reconciliation of GAAP to Non-GAAP Items August 3, July 29, In Thousands Except for Per Share Data 2024 2023 (Unaudite
Slide 16: Reconciliation of GAAP to Non-GAAP Items for PI Segment
Reconciliation of GAAP to Non-GAAP Items for PI Segment ASTRONOVA, INC. Reconciliation of GAAP to Non-GAAP Items for PI Segment Amounts in Thousands (Unaudited) Q2 FY25 Q2 FY24 Restructuring Total PI PI Excluding Total PI and Product Total PI Segment as MTEX As Inventory Adj MTEX MTEX (Non Segment a
Slide 17: Reconciliation of Net Income (Loss) to Adjusted EBITDA
Reconciliation of Net Income (Loss) to Adjusted EBITDA ASTRONOVA, INC. Reconciliation of Net Income (Loss) to Adjusted EBITDA Amounts In Thousands (Unaudited) Three Months Ended August 3, 2024 July 29, 2023 Net Income (Loss) $ (311) $ (1,617) Interest Expense 938 674 Income Tax Expense (Benefit) 261
Slide 18: Reconciliation of Segment Operating Income (Loss) to Non-GAAP Operating Income
Reconciliation of Segment Operating Income (Loss) to Non-GAAP Operating Income ASTRONOVA, INC. Reconciliation of Segment Operating Income (Loss) to Non-GAAP Operating Income Amounts In Thousands (Unaudited) Three Months Ended August 3, 2024 July 29, 2023 Product Test & Product Test & Identification