Astronova, Inc. · NASDAQ:ALOT
Astronova — Q3 2025 Earnings Presentation
19 slides from Astronova's earnings presentation, Dec 12, 2024
Slide 1: 3rd Quarter Fiscal 2025 Financial Results
3rd Quarter Fiscal 2025 Financial Results December 12, 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 Q3 FY25 Financial Review 04 Closing Comments Tom DeByle VP and Chief Financial Officer 05 Q&A 3
Slide 4: CEO Commentary
CEO Commentary Ongoing MTEX integration made Q3 a challenging quarter • Integration is consuming significant time and resources o Initial MTEX sales volumes, revenue, and margin contributors have fallen short of expectations o Focused on accelerating MTEX’s path to profitability and strong performan
Slide 5: Why We Remain Excited About MTEX
Why We Remain Excited About MTEX Unsurpassed inkjet printing technology and monitoring software 5
Slide 6: T&M Segment Posts Strong Top-Line Growth in Q3
T&M Segment Posts Strong Top-Line Growth in Q3 Aerospace product line provides us with unique competitive advantages Industry Challenge: Flight safety relies on real-time access to critical data like weather, navigation, and potential hazards en route or at a ground location that could affect the fl
Slide 7: ToughWriter-Branded Printers Expected to Reach 89% of Unit Volume by FY 2027
ToughWriter-Branded Printers Expected to Reach 89% of Our Total Unit Volume by FY 2027 AstroNova ToughWriter Shipments vs. Acquired Brands Benefits of Transition to ToughWriter Printer FY 2023 FY 2025 FY 2027(E) • Upgraded technology for Honeywell Honeywell ToughWriter customers 38% 42% Miltope 89%
Slide 8: Aerospace Royalty Expenses Roll Off After FY 2028
Aerospace Royalty Expenses Roll Off After FY 2028 ($ in thousands) Aerospace Royalty Expenses $5,000 $4,500 $4,371 $4,210 $4,325 $4,069 $4,000 $3,429 $3,500 $3,000 $2,500 $2,000 $1,500 $1,000 $500 $375 $0 FY 2023 FY 2024 FY 2025 E FY 2026 E FY 2027 E FY 2028 E Royalty Expenses 8
Slide 9: Q3 FY25 Financial Results
Q3 FY25 Financial Results GAAP Non-GAAP ($ in thousands, except per share data) Q3 FY25 Q3 FY24 YoY Q3 FY25 Q3 FY24 YoY Revenue $40,422 $37,549 7.7% -- -- -- Gross Profit $13,714 $14,779 (7.2%) $13,748 $14,770 (7.0%) Gross Margin 33.9% 39.4% (550 pts) 34.0% 39.4% (540 bps) Operating Expenses $12,450
Slide 10: Product Identification Segment
Product Identification Segment ($M) $30 $26.3 $26.5 $24.6 $25 $20 $15 $10 $4.8 $4.8 $5 $2.7 $2.7 $1.7 $1.9 $1.9 $0 -$0.8 -$0.8 -$5 Revenue GAAP Segment Operating Profit (Loss) Non-GAAP Segment Operating Profit (Loss) Q3 FY25 PI Excl MTEX Q3 FY25 MTEX Q3 FY25 PI Segment Q3 FY24 PI Segment Note: Segme
Slide 11: Test & Measurement Segment
Test & Measurement Segment Revenue ($M) +28.2% $14.1 GAAP Operating Profit ($M) $11.0 +26.9% $3.3 $2.6 Q3 FY25 Q3 FY24 Q3 FY25 Q3 FY24 11
Slide 12: Balance Sheet and Debt
Balance Sheet and Debt Q3 FY25 Q2 FY25 Q3 FY25 Q2 FY25 ($ in millions) 11/2/2024 8/3/2024 ($ in millions) 11/2/2024 8/3/2024 Funded Debt $48.9 $45.6 Cash $4.4 $4.8 Long Term Debt $21.1 $22.7 Cash $4.4 $4.8 Revolver $30.5 $30.5 Net Debt $44.5 $40.8 Drawn $20.2 $13.4 Shareholder Equity $92.2 $91.8 Ava
Slide 13: Free Cash Flow
Free Cash Flow Q3 Q3 YTD YTD ($ 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 ($4,742) $1,184 $2,324 $5,902 Less: Capital Expenditures (256) (785) (1,086) (1,279) $10,000 Free Cash Flow ($4,998) $399 $
Slide 14: AstroNova Key Strategic Priorities
AstroNova Key Strategic Priorities • Create Value Through MTEX NS Acquisition Integration o Seamlessly integrate MTEX’s game-changing technologies across multiple printer platforms o Ramp up new market synergies over time, expanding customer offerings, leveraging the proven AstroNova Operating Syste
Slide 15: Appendix
Appendix i AstroNova' 15
Slide 16: 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) Nine Months Ended November 2, October 28, Three Months Ended 2024 2023 November 2, October 28, 2024 2023 Gross Profit $ 40,013 $ 36,875 Inventory Step-
Slide 17: Reconciliation of GAAP to Non-GAAP Items for PI Segment
Reconciliation of GAAP to Non-GAAP Items for PI Segment Reconciliation of GAAP to Non-GAAP Items for PI Segment Amounts In Thousands (Unaudited) Three Months Ended November 2, 2024 Three Months Ended October 28, 2023 Total PI Total PI Product MTEX as Inventory Adj MTEX (Non- PI Excluding MTEX Restru
Slide 18: Reconciliation of Net Income to Adjusted EBITDA
Reconciliation of Net Income to Adjusted EBITDA ASTRONOVA, INC. Reconciliation of Net Income to Adjusted EBITDA Amounts In Thousands (Unaudited) Three Months Ended November 2, 2024 October 28, 2023 Net Income $ 240 $ 2,752 Interest Expense 944 630 Income Tax Expense 34 949 Depreciation & Amortizatio
Slide 19: Reconciliation of Segment Operating Income to Non-GAAP Operating Income
Reconciliation of Segment Operating Income to Non-GAAP Operating Income ASTRONOVA, INC. Reconciliation of Segment Operating Income to Non-GAAP Operating Income Amounts In Thousands (Unaudited) Three Months Ended November 2, 2024 October 28, 2023 Product Test & Product Test & Identification Measureme