Daktronics, Inc. · NASDAQ:DAKT
Daktronics — Q4 FY2024 Earnings Presentation
16 slides from Daktronics's earnings presentation, Jun 26, 2024
Slide 1: Fiscal Fourth Quarter 2024 Results Call
DYNAMIC MESSAGE SIGNS Fiscal Fourth Quarter 2024 Results Call June 26, 2024 NASDAQ: DAKT CONTROL SYSTEMS
Slide 2: Safe Harbor Statement
SAFE HARBOR STATEMENT In addition to statements of historical fact, this presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and is intended to enjoy the protection of that Act. These forward-looking statements reflect the Compa
Slide 3: Fiscal 2024 Accomplishments
FISCAL 2024 ACCOMPLISHMENTS Incrementally raised Product innovation Recapitalized and the base and broadened strengthened profitability and channel reach – balance sheet cash generation of NPP Line/Customers the business Reinforced Further aligned competitive supply chain for differentiation, strong
Slide 4: Fiscal Fourth Quarter 2024 Highlights
FISCAL FOURTH QUARTER 2024 HIGHLIGHTS ❑ FQ4 performance terrific end to a very good year against atypical prior year growth • Strong execution on good order availability and strong win rate drove growth compared to last FYQ4’s high level of backorder fulfillment • More stable operating environment,
Slide 5: FQ4 FY2024 Financial Highlights
FQ4 FY2024 FINANCIAL HIGHLIGHTS ($ in millions, except per share data) Orders (1) Net Sales Gross Margin Operating Margin(2) F2024 F2023 F2024 F2023 F2024 F2023 F2024 F2023 $206 $216 $210 $180 25.7% 24.8% 9.0% 8.7% +14.6% +2.9% +90 BP +30 BP ($ in thousands, except per share data) Note: Percentages
Slide 6: FY2024 Financial Highlights
FY2024 FINANCIAL HIGHLIGHTS ($ in millions, except per share data) Orders (1) Net Sales Gross Margin Operating Margin (2) F2024 F2023 F2024 F2023 F2024 F2023 F2024 F2023 $818 $740 $754 $681 27.2% 10.6% 20.1% 2.8% +8.7% +8.5% +710 BP +780 BP ($ in thousands, except per share data) F2024 F2023 Change
Slide 7: Market Vertical – FQ4 Review
MARKET VERTICAL – FQ4 REVIEW Live Events • Detroit Tigers/Comerica Park International complete • Quoting activity has been strong, • FQ4/FY Orders +44% / +24% beginning to see signs of higher • Strong order flow from Iowa State, order conversion rates. FQ4/FY U of Texas, U of Maryland Orders +80% /
Slide 8: FY 2025 Strategic Priorities
FY 2025 Strategic Priorities Further upgrade Internal systems / digital transformation projects: • Enhance, further modernize service systems, including field service automation • Enterprise Performance Management tool – Invest to increase data capture and financial planning • Quoting and Sales proc
Slide 9: Summary
Summary • Full-year results confirm we have overcome the past years’ operational challenges • Commitment to improve and consistently earn returns above the cost of capital through allocation of resources and reducing cost structure. • Allocating resources and capturing growth in existing profitable
Slide 10: Appendix
APPENDIX Lusail Boulevard – Saudi Arabia
Slide 11: Net Sales and Orders by Business Unit
NET SALES AND ORDERS BY BUSINESS UNIT ($ in thousands) (1) Orders and backlog are not measures defined by accounting principles generally accepted in the United States of America ("GAAP"), and our methodology for determining orders and backlog may vary from the methodology used by other companies in
Slide 12: Reconciliation of Free Cash Flow
RECONCILIATION OF FREE CASH FLOW (1) ($ in thousands, unaudited) (1) In evaluating its business, Daktronics considers and uses free cash flow as a key measure of its operating performance. The term free cash flow is not defined under accounting principles generally accepted in the United States of A
Slide 13: Reconciliation of Adjusted Operating Income
RECONCILIATION OF ADJUSTED OPERATING INCOME ($ in thousands, unaudited) (1) In evaluating its business, Daktronics considers and uses adjusted operating income as a key measure of its operating performance. The term adjusted operating income is not defined under GAAP and is not a measure of operatin
Slide 14: Reconciliation of Adjusted Net Income (Loss)
RECONCILIATION OF ADJUSTED NET INCOME (LOSS) ($ in thousands, unaudited) (1) Adjusted net income. We disclose adjusted net income as a non-GAAP financial measurement in order to report our results exclusive of items that are non-recurring or not core to our operating business. We believe presenting
Slide 15: Reconciliation of Long-Term Debt
RECONCILIATION OF LONG-TERM DEBT ($ in thousands, unaudited) (1) Adjusted net income. We disclose adjusted net income as a non-GAAP financial measurement in order to report our results exclusive of items that are non-recurring or not core to our operating business. We believe presenting this non-GAA
Slide 16: Dynamic Message Signs Control Systems
DYNAMIC MESSAGE SIGNS CONTROL SYSTEMS