Lsi Industries Inc. · NASDAQ:LYTS
Lsi Industries — Q3 2025 Earnings Presentation
16 slides from Lsi Industries's earnings presentation, Apr 24, 2025
Slide 1: Fiscal Third Quarter 2025 Results Conference Call
Fiscal Third Quarter 2025 Results Conference Call April 24, 2025
Slide 2: Disclaimer
DISCLAIMER This presentation contains “forward-looking statements”—that is, statements related to future events within the meaning of the Private Securities Litigation Reform Act of 1995. The Private Securities Litigation Reform Act of 1995 provides a safe harbor for forward-looking statements. Forw
Slide 3: Key Messages
KEY MESSAGES Strong commercial execution despite Lighting experienced significant rebound in Revenue driven by 15% customer and macro volatility project order activity, driving 18% backlog Display Solutions Q3FY25 sales 22% above PY driven by strong growth organic growth; performance in Refueling /
Slide 4: Consolidated Financial Results
CONSOLIDATED FINANCIAL RESULTS Total Net Sales ($M) Operating Income ($M) Key Vertical Markets 9.3% driving solid sales and $132.5 7.3% order performance $108.2 $10.0 $9.7 $7.7 Display Solutions generated $6.2 15% organic sales growth, supported by increased sales across multiple vertical Q3FY24 Q3F
Slide 5: Display Solutions Segment Update
DISPLAY SOLUTIONS SEGMENT UPDATE Display Solutions Segment Sales ($M) Display Solutions Segment Adj. Gross Margin ($M) Display Solutions sales 22.6% $73.5 increased 70%, with 15% organic 17.0% sales growth. Refueling / C- Store +60% driven by several $43.3 $12.5 major programs, Grocery +20% $9.8 EMI
Slide 6: Lighting Segment Update
LIGHTING SEGMENT UPDATE Lighting Segment Sales ($M) Lighting Segment Adj. Gross Margin ($M) Lighting segment sales down $64.9 34.6% y/y given lower large project $59.0 33.2% shipment activity $21.6 Increased order levels $20.4 generated a B-to-B ratio of 1.13, driven by larger project quotes convert
Slide 7: Strong Balance Sheet; Consistent Cash Generation
STRONG BALANCE SHEET; CONSISTENT CASH GENERATION Free Cash Flow ($M)(1) TTM Free Cash Flow ($M)(1) Generated free cash flow of $4.7 million; TTM free cash flow $43.3 $41.4 through Q3FY25 of $35 million $38.0 $39.9 $35.0 $11.2 $11.1 Net debt $51 million in Q3FY25, $10.3 $8.8 reflecting Canada’s Best
Slide 8: Disciplined Working Capital Management
DISCIPLINED WORKING CAPITAL MANAGEMENT Total Working Capital ($M) Disciplined working capital management supporting strong free cash generation $96.3 $83.3 $86.8 $84.9 $77.2 Comparable (excl. EMI and Canada’s Best EMI Canada’s Best) working capital Acquisition Acquisition Margin MarginRate Rate and
Slide 9: Appendix
APPENDIX
Slide 10: Statement on Non-GAAP Financial Measures
STATEMENT ON NON-GAAP FINANCIAL MEASURES This presentation includes adjustments to GAAP gross margin, operating income, net income, and earnings per share for the periods ending March 31, 2024, and March 31, 2025. Gross Margin, operating income, net income, and earnings per share, which exclude the
Slide 11: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q3 2024 Q3 2025 Net Sales 108,186 132,481 Gross Margin 31,210 32,843 Lease expense on the step-up basis of acquired leases 67 Severance costs/Restructuring costs 130 - Adjusted Gross Margin 31,340 32,910 Adjusted Gross Margin % 29.0% 24.8% Lighting Segment Q3 2
Slide 12: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q3 2024 Q3 2025 Lighting Segment Q3 2024 Q3 2025 Net Sales 108,186 132,481 Net Sales 64,881 58,967 Operating Income 7,660 6,235 Operating Income 7,268 7,154 Consulting expense: commercial growth initiatives - - Amortization expense of acquired intangible assets
Slide 13: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Diluted Diluted Diluted Diluted LSI Industries Q1 2024 EPS Q2 2024 EPS Q3 2024 EPS Q4 2024 EPS Net Income Reported $ 8,028 $ 0.27 $ 5,906 $ 0.20 $ 5,375 $ 0.18 $ 5,668 $ 0.19 Acquisition costs - - - - - - 722 0.02 Consulting expense: commercial growth initiatives 13 - - - - -
Slide 14: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION LSI Industries Q3 2024 Q3 2025 Net Income Reported $ 5,375 $ 3,883 Income tax 2,076 1,713 Interest expense, net 134 661 Other expense (income) 75 (22) Operating Income as Reported 7,660 6,235 Depreciation and amortization 2,415 3,062 EBITDA $ 10,075 $ 9,297 Acquisition Costs
Slide 15: Non-GAAP Reconciliation
NON-GAAP RECONCILIATION Free Cash Flow Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Cash flow from operations $ 12,429 $ 11,096 $ 11,846 $ 9,891 $ 5,406 Less: Capital expenditures $ (1,277) $ (762) $ (759) $ (1,066) $ (690) Free cash flow $ 11,152 $ 10,334 $ 11,087 $ 8,825 $ 4,716 Net Debt Outstanding an
Slide 16: For Additional Questions, Please Contact
For Additional Questions, Please Contact 720.778.2415 Thank you, LSI Investor Relations