Astronova, Inc. · NASDAQ:ALOT
Astronova — Q4 2024 Earnings Presentation
16 slides from Astronova's earnings presentation, Mar 22, 2024
Slide 1: Fiscal 4th Quarter and Full-Year 2024 Financial Results
Fiscal 4th Quarter and Full-Year 2024 FINANCIAL RESULTS March 22, 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 FY’24 Review President and Chief Executive Officer 03 Business Outlook David Smith 04 Q4’24 Review VP and Chief Financial Officer 05 Summary 3
Slide 4: CEO Commentary: FY 2024 highlights
CEO Commentary FY 2024 highlights • Realignment of Product Identification segment enables strategic focus on highest return opportunities • Test & Measurement segment delivers strongest revenue in 4 years, supported by a resurgent aerospace industry • Launch of multiple new products in FY 2024 posit
Slide 5: FY'24 Financial Results
FY’24 Financial Results Increased efficiencies help fuel record FY operating income Strong growth in FY’24 $0.97 (+126%) • Record revenue of $148.1M, up 4% YoY FY Non-GAAP Diluted EPS1 • Record operating income of $8.8M, up 62% YoY • GAAP EPS of $0.63 34.9% (+110 bps) • Adjusted EBITDA Less Restruct
Slide 6: FY'24 Segment Results
FY’24 Segment Results PI and T&M segments deliver year-over-year profitability growth PI Revenue and Segment Operating Profit T&M Revenue and Segment Operating Margin Profit Margin $120.0 50.0% $90 ($ in millions) $104.0 ($ in millions) 90.0% $103.1 45.0% $80 $100.0 $90.3 $90.9 40.0% 80.0% $88.1 $70
Slide 7: FY'25 Financial Targets and Outlook
FY’25 Financial Targets and Outlook Strong growth and continued operational improvements 1 Mid-single-digit organic revenue percentage growth 2 FY 2025 Adjusted EBITDA margin of 13% to 14% Continued Adjusted EBITDA margin improvement of 3 100 bps over the following two fiscal years 7
Slide 8: Q4'24 Financial Results
Q4’24 Financial Results Strong operating margin of 9.9% highlights increased efficiencies ($ in thousands, except per share data) Q4 FY 2024 Q4 FY 2023 YoY Quarterly Profitability Drivers Revenue $39,594 $39,853 (1%) • Synergies from strategic realignment Gross Profit $14,746 13,562 9% of PI segment
Slide 9: Strong and Balanced Margin Growth
Strong and Balanced Margin Growth Q4 FY24 segment review Product Identification Segment Test & Measurement Segment Results underscore the successful implementation of strategic Ongoing post-pandemic recovery of commercial aerospace realignment and Astro Machine synergies market continues to drive so
Slide 10: Revenue by Type and Geography
Revenue by Type and Geography Strong recurring revenue stream; U.S. and ROW revenue up Q4 FY24 Revenue by Category Q4 FY24 Revenue by Geography ($ in millions) ($ in millions) $22.4 Service/Other 14% U.S. $5.5 Supplies 52% $23.0 $12.1 Hardware 34% Europe $20.5 $10.7 $13.6 $5.4 ROW $5.9 Q4'23 Q4'24 1
Slide 11: Balance Sheet and Cash Flow Highlights
Balance Sheet and Cash Flow Highlights • Cash and cash equivalents of $4.5M at 1/31/2024 versus $3.9M at year-end 2023 • Generated $12.4M in cash from operations in FY 2024, of which $7M was used to pay down revolver debt. Debt $21.8M at FYE. • Significantly reduced total debt-to-trailing 12-month E
Slide 12: Strong Foundation for Growth and Value Creation
Strong Foundation for Growth and Value Creation AstroNova is positioned to win in a dynamic market environment Leading Market Positions and Brands Capitalizing on Secular Trends in All Lines of Business High Recurring Revenue Track Record of Value-Generating M&A 12
Slide 13: Appendix
Appendix 4 AstroNova 13
Slide 14: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results ASTRONOVA, INC. Reconciliation of GAAP to Non-GAAP Results In Thousands Except for Per Share Data (Unaudited) Three Months Ended Twelve Months Ended January 31, January 31, January 31, January 31, 2024 2023 2024 2023 GAAP Revenues $ 39,594 $ 39,853 $ 148,08
Slide 15: 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 Twelve Months Ended January 31, January 31, January 31, January 31, 2024 2023 2024 2023 GAAP Net Income $ 2,711 $ 1,363 $ 4,694 $ 2,661
Slide 16: Reconciliation of Segment GAAP to Non-GAAP Operating Income
Reconciliation of Segment GAAP to Non-GAAP Operating Income ASTRONOVA, INC. Reconciliation of Segment GAAP to Non-GAAP Operating Income Amounts In Thousands (Unaudited) Three Months Ended Twelve Months Ended January 31, 2024 January 31, 2023 January 31, 2024 January 31, 2023 Product Test & Product T