Astronova, Inc. · NASDAQ:ALOT
Astronova — Q1 2025 Earnings Presentation
15 slides from Astronova's earnings presentation, Jun 6, 2024
Slide 1: 1st Quarter Fiscal 2025 Financial Results
1st Quarter Fiscal 2025 FINANCIAL RESULTS June 6, 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 Q1’25 Financial Review 04 Closing Comments David Smith VP and Chief Financial Officer 05 Q&A 3
Slide 4: CEO Commentary
CEO Commentary Profitable first quarter despite challenges • Temporary component shortage delayed shipment of certain legacy Aerospace printers • Expect delay to be remedied this fiscal year • Well underway with transition program to upgrade our Aerospace customers from legacy printers in our portfo
Slide 5: AstroNova Acquires MTEX NS
AstroNova Acquires MTEX NS Expands Product Identification segment into new market adjacencies Acquisition Highlights • Portugal-based leader in color printing solutions for label, packaging, and direct-to-film applications • Technology disruptor with new industrial printing solutions that have been
Slide 6: New Products Featured at Drupa 2024
New Products Featured at Drupa 2024 AstroNova and MTEX NS showcase groundbreaking products in combined booth Combined AstroNova-MTEX NS Booth AQUAFLEX TrojanLabel T2-Pro Showcasing AQUAFLEX at Drupa 2024 6
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 Aerospace Printer Shipments by Brand Benefits of Transition to FY 2024 FY 2027 (E) ToughWriter Printer Honeywell • Upgraded technology for 42% ToughWriter 89% customers Miltope Honeywell 9% 0% • Fewer SK
Slide 8: Q1'25 Financial Results
Q1’25 Financial Results Gross margin up 130 basis points despite lower revenue ($ in thousands, except per share data) Q1 FY 2025 Q1 FY 2024 YoY Revenue $32,961 $35,419 (7%) Gross Profit 11,972 12,385 (3%) Gross Margin 36.3% 35.0% 130 pts. Operating Expenses 10,626 10,924 (3%) Operating Income 1,346
Slide 9: Q1 FY25 Segment Review
Q1 FY25 Segment Review Temporary supply shortage and order pushout impact results Product Identification Segment Test & Measurement Segment Operating profit improvement reflects the results of the Revenue and operating profit declines due to strategic realignment of the business delay in $3M of orde
Slide 10: Revenue by Type and Geography
Revenue by Type and Geography Strong recurring revenue stream; European revenue moves higher YoY Q1 FY’25 Revenue by Category Q1 FY’25 Revenue by Geography ($ in millions) ($ in millions) $18.1 Service/Other 16% U.S. $5.5 $20.7 Supplies 57% $10.4 Hardware 27% Europe $9.9 $18.6 $8.9 $4.4 ROW $4.9 Q1'
Slide 11: Balance Sheet and Cash Flow Highlights
Balance Sheet and Cash Flow Highlights • Cash and cash equivalents of $4.0M at 4/27/2024 • Generated $6.9M in cash from operations in Q1 FY 2025, of which $5.5M was used to pay down revolver debt • Debt of $15.6M at the end of Q1 FY 2025 • Post quarter-end, AstroNova funded MTEX acquisition with $19
Slide 12: Confirming FY'25 Financial Targets and Outlook
Confirming 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 12
Slide 13: 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 Launching Innovative New Products Capitalizing on Secular Trends in All Lines of Business High Recurring Revenue Track Record of Value-Generating M&A 13
Slide 14: Appendix
Appendix 4 AstroNova 14
Slide 15: Reconciliation of GAAP to Non-GAAP Results
Reconciliation of GAAP to Non-GAAP Results ASTRONOVA, INC. Reconciliation of Net Income to Adjusted EBITDA Amounts In Thousands (Unaudited) Three Months Ended April 27, April 29, 2024 2023 GAAP Net Income $ 1,181 $ 848 Interest Expense 482 615 Income Tax Expense (Benefit) (434) 179 Depreciation/Amor