Astronova, Inc. · NASDAQ:ALOT
Astronova — Q4 2025 Earnings Presentation
26 slides from Astronova's earnings presentation, Apr 14, 2025
Slide 1: 4th Quarter Fiscal 2025 Financial Results
4th Quarter Fiscal 2025 Financial Results April 14, 2025
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 Creating a Better AstroNova Greg Woods 02 Q4 FY25 Financial Review President and Chief Executive Officer 03 Closing Comments C 04 Q&A Tom DeByle VP and Chief Financial Officer 3
Slide 4: Strengthening AstroNova for Growth and Earnings Power
Strengthening AstroNova for Growth and Earnings Power Took Action to Strengthen Margins and Create Long-term Opportunities o Driving $3 million annualized savings through restructuring plan o 10% reduction in overall workforce to be fully completed by 8/31/25 o Reorganizing and realigning MTEX busin
Slide 5: Strategic Profile
Strategic Profile o Technology-focused Driving Force centered on Data Visualization Technology (DVT) o Unique, high-quality, highly reliable DVT solutions quickly and efficiently process analog and digital data with proprietary technology that then converts it into functional form o Leverage DVT cap
Slide 6: Aerospace Segment
Aerospace Segment Installed Base: 30,000+ Printers • Achieved record revenue of $48.9 million with operating margin of 22.8% Recurring Revenue 49% • ToughWriter Product Conversion Program FY25 Other 4% o Phases out acquired models and converts OEMs and Airlines to Portable Data Acquisition Thermal P
Slide 7: Aerospace Growth Catalysts
Aerospace Growth Catalysts Product Portfolio Transition from 42% in Q4 FY25 to 86% in Q4 FY26 ToughWriter Value Proposition • Lighter weight = fuel savings and aircraft efficiency ToughWriter Shipments as a % of • Significant increase in reliability = enhanced safety Total Printer Shipments • Double
Slide 8: Product Identification Segment
Product Identification Segment Installed Base: 10,000+ Printers Recurring Revenue 82% Parts, Service • Q4 segment results impacted by lower hardware and supply FY25 & Other sales; non-GAAP profitability maintained despite MTEX Hardware 7% 18% Toner & headwinds Thermal Transfer 7% • Realigning sales
Slide 9: MTEX Acquisition Update
MTEX Acquisition Update o Elevating to public-company standards; great technology and manufacturing capabilities o Reorganizing, revitalizing and providing clarity on priorities 1. Organizational talent, processes and culture 2. Finance and accounting overhaul 3. Operational enhancements o Eliminati
Slide 10: FY26 Transition to AstroNova Next-Gen Products
FY26 Transition to AstroNova Next-Gen Products Key Next-Gen LEGACY MTEX PRODUCT PORTFOLIO Technology Enhancements Higher Quality & More Reliable Print Engine Flexibility with dye and pigment ink options ATOM2 ATOM3 MULTI 800 MULTI 1300 AQUAFLEX Engineered for Global Compatibility ASTRONOVA NEXT-GEN
Slide 11: MTEX Printers Target Higher-Volume Customers
MTEX Printers Target Higher-Volume Customers Avg. Annual Label Media Revenue Avg. Annual Ink Consumption in Liters Avg. Annual Ink Consumption in Liters Per installed printer Per installed printer Per installed printer (Labeling Products) (Labeling Products) (Packaging Products) 600 $24,000 24 $20,0
Slide 12: Financial Results
Financial Results i AstroNova' 2
Slide 13: Q4 FY2025 Financial Overview
Q4 FY2025 Financial Overview GAAP Non-GAAP ($ in thousands, except per share data) Q4 FY25 Q4 FY24 YoY Q4 FY25 Q4 FY24 YoY Revenue $ 37,361 $ 39,594 (5.6%) Gross Profit $ 12,737 $ 14,746 (13.6%) $ 12,799 $ 14,504 (11.8%) Gross Margin 34.1% 37.2% (310 pts) 34.3% 36.6% (230 pts) Operating Expenses $ 2
Slide 14: Product Identification Segment Q4 Summary
Product Identification Segment Q4 Summary ($ in millions) Q4 FY 25 Q4 FY 24 Delta • Excluding MTEX, sales declined $2.6M, or 9.8% YoY • Hardware sales lower as large format OPX sales did not repeat due to end market pressures Revenue $ 25.7 $ 26.6 (3.6%) • Astro Machine’s largest customer deferred s
Slide 15: Aerospace Segment (formerly T&M)
Aerospace Segment (formerly T&M) Q4 Summary • Sales decline reflects: ($ in millions) Q4 FY 25 Q4 FY 24 Delta • Delay in military transport aircraft contract YoY award $2.2M Revenue $ 11.7 $ 13.0 (9.9%) • Delivery deferments due to Boeing strike $0.7M Segment Operating Income $ 2.3 $ 3.7 (36.0%) • P
Slide 16: Balance Sheet and Debt
Balance Sheet and Debt Q4 FY25 Q3 FY25 Q4 FY25 Q3 FY25 ($ in millions) ($ in millions) 1/31/2025 11/2/2024 1/31/2025 11/2/2024 Funded Debt $46.7 $48.9 Cash $5.1 $4.4 Long Term Debt $19.0 $21.1 Revolver $25.5 $30.5 Cash $5.1 $4.4 Drawn $20.9 $20.2 Net Debt $41.6 $44.5 Available $4.6 $10.3 Shareholder
Slide 17: Free Cash Flow
Free Cash Flow Q4 Q4 YTD YTD ($ 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 $2,523 $6,452 $4,848 $12,354 Less: Capital Expenditures (79) 404 (1,165) (875) $10,000 Free Cash Flow $2,444 $6,856 $3,683
Slide 18: Unlocking AstroNova's Potential
Unlocking AstroNova’s Potential Focused on driving growth, profitability and cash generation FY 2026 Guidance 1. Evolve to Next-Gen print system and ▪ $160M - $165M Revenue ink technology ▪ Represents 7.4% growth at midpoint vs. • Expect results to be demonstrated FY 2025 in latter half of FY26 ▪ 8.
Slide 19: Strategic Priorities
Strategic Priorities • Product Identification o Integrate MTEX’s game-changing technologies across multiple printer platforms o Accelerate growth of recurring supplies and service revenue o Initiate new market synergies, expand customer offerings o Leverage AstroNova Operating System to achieve oper
Slide 20: 4th Quarter Fiscal 2025 Financial Results
4th Quarter Fiscal 2025 Financial Results April 14, 2025
Slide 21: Appendix
Appendix 21 i AstroNova'
Slide 22: 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) Three Months Ended January 31, January 31, Twelve Months Ended 2025 2024 January 31, January 31, 2025 2024 Gross Profit $ 12,737 $ 14,746 Inventory Ste
Slide 23: 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) Three Months Ended January 31, 2025 Three Months Ended January 31, 2024 Non-GAAP Total PI Total PI Product MTEX as Inventory Goodwill Restr
Slide 24: 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 January 31,2025 January 31,2024 Net Income (Loss) $ (15,600) $ 2,711 Interest Expense 847 779 Income Tax Expense 2,342 641 Depreciation
Slide 25: 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 Segment Operating Income Amounts In Thousands (Unaudited) Three Months Ended January 31, 2025 January 31, 2024 Product Test & Product Test & Identification M
Slide 26: Multi-Year Operating Segment Reconciliation
Multi-Year Operating Segment Reconciliation ASTRONOVA, INC. Reconciliation of Segment Operating Income to Non-GAAP Segment Operating Income Amounts In Thousands (Unaudited) Product Identification January 31, 2021 January 31, 2022 January 31, 2023 January 31, 2024 January 31, 2025 Segment Operating P