Press release December 10, 2025

AstroNova Reports 8.5% Sequential Growth in Revenue for Third Quarter Fiscal 2026

AstroNova, Inc. (ALOT)

About Us LeadershipOur HistoryAwards & CertificationsRebrand Our Culture AstroNova Operating SystemCore ValuesIntegrity & ComplianceQuality Our Businesses AerospaceProduct IdentificationTest & Measurement Investors Investors Our Strategy Events & PresentationsFinancial Reports Annual ReportsQuarterly ResultsSEC Filings Stock Information Stock Information Corporate Governance Board of DirectorsExecutive BiographiesBoard CommitteesGovernance Documents Resources Investor FAQsContact IREmail Alerts & RSS Search<img src="/files/design/icon_search.png">News Press ReleasesEventsTrademarks CareersContact Us AstroNova Reports 8.5% Sequential Growth in Revenue for Third Quarter Fiscal 2026 December 10, 2025 Achieved revenue of $39.2 million in the quarter driven by sequential quarter growth in both Aerospace and Product Identification (“Product ID”) Net income was $0.4 million, or $0.05 per diluted share; Non-GAAP net income was $1.5 million, or $0.20 per diluted share Adjusted EBITDA was $4.2 million, or 10.7% of sales Generated $3.4 million of operating cash in the quarter and $8.1 million year to date Strengthened balance sheet with debt reduced by $3.2 million in the quarter and $6.4 million year to date Refinanced lending agreement on favorable terms AstroNova, Inc. (Nasdaq: ALOT), a leading innovator in specialized print technology solutions, today announced financial results for its fiscal 2026 third quarter ended October 31, 2025. Jorik Ittmann, President and Chief Executive Officer of AstroNova, noted, “Our third quarter results indicate our efforts to stabilize the business, reignite sales in our Product ID segment and develop a greater sense of urgency in the business to deliver for our customers and shareholders are having a positive impact. We drove improvements in our mail & sheet/flatpack operations to provide more timely lead times for our customers and to reduce dated backlog. Importantly, the strong margins of our Aerospace segment confirm the value of the leading market position of our ToughWriter brand flight deck printers which are displacing legacy products for our highest volume major aircraft partners. This action combined with encouraging aircraft build rate forecasts bode well for this segment.” Mr. Ittmann added, “While we have improved our financial results sequentially, including growing Product ID’s valuable and profitable recurring supplies, parts and service revenue, work remains to deliver consistent growth while we capture the benefits of our Aerospace segment.” Third Quarter Fiscal 2026 Overview1 (comparisons are to the prior-year period unless noted otherwise) Three Months Ended October 31, 2025 November 2, 2024 $ Variance % Variance July 31, 2025 $ Variance % Variance Revenue $ 39,169 $ 40,422 $ (1,253 ) (3.1 )% $ 36,102 $ 3,067 8.5 % Gross Profit $ 14,197 $ 13,714 $ 483 3.5 % $ 11,633 $ 2,564 22.0 % Gross Profit Margin 36.2 % 33.9 % 32.2 % Non-GAAP Gross Profit $ 14,557 $ 13,748 $ 809 5.9 % $ 11,631 $ 2,926 25.2 % Non-GAAP Adjusted Gross Profit Margin 37.2 % 34.0 % 32.2 % Operating Income (Loss) $ 1,287 $ 1,264 $ 23 1.8 % $ (708 ) $ 1,995 (281.7 )% Operating Margin 3.3 % 3.1 % (2.0 )% Non-GAAP Operating Income $ 2,561 $ 1,623 $ 938 57.8 % $ 380 $ 2,181 574.0 % Non-GAAP Operating Income Margin 6.5 % 4.0 % 1.1 % Net Income (Loss) $ 378 $ 240 $ 138 57.3 % $ (1,243 ) $ 1,621 (130.4 )% Non-GAAP Net Income (Loss) $ 1,532 $ 513 $ 1,019 198.6 % $ (412 ) $ 1,944 (471.8 )% Adjusted EBITDA $ 4,172 $ 3,228 $ 944 29.3 % $ 2,055 $ 2,117 103.0 % Adjusted EBITDA Margin 10.7 % 8.0 % 5.7 % ______________________________ 1 Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP operating income, Non-GAAP operating income margin, Non-GAAP net income, adjusted EBITDA and adjusted EBITDA margin are Non-GAAP financial measures. Refer to the reconciliation of GAAP to non-GAAP measures in the tables that accompany this news release. Compared with the trailing second quarter of fiscal 2026, revenue increased 8.5% reflecting growth in both Aerospace and Product ID segments. Gross profit improved sequentially by 400 basis points as a result of productivity improvements and improved product mix. Operating income increased over the trailing quarter representing operating leverage on higher volume and improved product mix. Compared with the prior-year period, revenue declined $1.3 million as the combined growth in Product ID and the Aerospace segment’s Commercial Aircraft, Defense and Other markets sales did not fully offset lower Aerospace Aftermarket revenue, which had a tough comparison against an unusually strong third quarter in FY 2025. Tariff mitigation contributed $0.4 million in revenue and foreign currency translation was a $0.3 million benefit in the quarter. As a result of improved productivity and a more profitable mix, gross profit was up $0.5 million, or 3.5%, and gross margin expanded 230 basis points compared with the prior-year period despite lower revenue and a provision for inventory of $0.4 million related to the closure of a warehouse. On an adjusted basis, gross margin expanded 320 basis points from the prior-year period to 37.2%. Operating expenses in the quarter were $12.9 million up from $12.5 million in the prior-year period. Savings from cost reduction actions were offset by $0.4 million in legal expenses related to ongoing litigation, $0.1 million of costs related to the contested proxy solicitation and a $0.3 million goodwill impairment charge associated with the May 2024 MTEX acquisition. Operating income for the quarter was $1.3 million similar to the prior-year period, while non-GAAP operating income was $2.6 million, up $0.9 million, or 57.8% compared with the prior-year period. Interest expense of $0.8 million was down 12.4% as debt balance decreased from $46.7 million in the prior-year end to $40.3 million as of the end of the quarter fiscal. Improved financial performance resulted in net income of $0.4 million, or $0.05 per share, compared with $0.2 million in the prior-year period. Non-GAAP net income was $1.5 million, or $0.20 per share. Adjusted EBITDA was $4.2 million and Adjusted EBITDA margin was 10.7%. Product Identification (Product ID) Segment Review Product ID revenue was $26.8 million for the third quarter of fiscal 2026, up 2.0%, or $0.5 million, compared with the prior year and was up $2.1 million, or 8.5%, sequentially. Sequential growth was across all product categories with Mail & Sheet/Flat Pack Printers increasing $0.5 million, or 14.4%, as productivity improvements enabled higher shipment levels. Operating income for Product ID of $1.9 million was similar with the prior-year period, as improved volume and mix helped to offset an inventory provision of $0.7 million related to a warehouse closure and true-up between segments and a $0.3 million goodwill impairment charge. Operating margin was 7.0% compared with 7.1% in the prior-year period. Non-GAAP segment operating income grew $1.0 million, or 50%, to $2.9 million. Non-GAAP operating income margin for the third quarter of fiscal 2026 was 10.6%. Aerospace Segment Review Aerospace segment revenue was $12.3 million in the fiscal 2026 third quarter, a decrease of 12.7%, or $1.8 million. The decline reflects the benefit of $2.3 million in revenue in the prior-year period from atypical orders related to replacement printheads that had built up in backlog pending certification. Despite lower sales, Aerospace segment operating profit was $4.5 million, up $1.3 million, or 39.4%, over the prior-year period from a $0.3 million benefit from an inventory provision true-up between segments as well as improved product mix. Balance Sheet and Cash Flow Cash provided by operations in the third quarter of fiscal 2026 was $3.4 million and was $8.1 million year to date. The improvement in cash generation in the quarter was a combination of stronger cash earnings and reduced working capital requirements, primarily due to lower inventory. Capital expenditures in the quarter were $86 thousand and $0.2 million year to date compared with $0.3 million and $1.1 million, respectively, in the prior year periods. Cash at the end of the third quarter of fiscal 2026 was $3.6 million, down $1.4 million from the end of fiscal 2025. The Company strengthened its balance sheet and reduced debt by $3.2 million in the quarter and by $6.4 million year to date. Debt as of October 31, 2025 was $40.3 million compared with $46.7 million as of January 31, 2025. On October 31, 2025, the Company executed an amended credit agreement which extended the maturity of its revolving credit facility, temporarily increased the facility to $27.5 million, and refinanced previous term loans resulting in a new $10 million term loan and a new $9.7 million term A-2 loan. The new credit structure reduces principal payments and eliminates the foreign currency exchange rate volatility of the Euro payments. It also provides greater flexibility in its EBITDA covenant. Bookings and Backlog by Segment Orders in the quarter for the Product ID segment were $22.5 million, down $4.3 million compared with the prior-year period due to delays in renewing blanket orders with certain customers. The Company expects those orders to be renewed in the fourth quarter of fiscal 2026. As a result, the book to bill ratio for the segment was 84% and backlog decreased by $4.4 million from second quarter of fiscal 2026. Orders in the quarter for the Aerospace segment increased $2.6 million, or 23.7%, over the prior-year period to $13.4 million primarily related to major OEM orders improving as inventory better aligns with build rates. The book to bill ratio for the segment was 109%. Backlog at the end of the third quarter of fiscal 2026 increased by $1.1 million compared with second quarter of fiscal 2026. Fiscal 2026 Outlook “Our solid performance in the third quarter and the progress we are making in the business provide us further confidence in our expectations for the full year," concluded Mr. Ittmann. AstroNova has maintained its revenue expectations for fiscal 2026 within a range of $149 million to $154 million implying fourth quarter revenue in a range of $36 million to $41 million. Adjusted EBITDA margin expectations are in a range of 7.5% to 8.5% for the year. Earnings Conference Call Information AstroNova will host a conference call and webcast today at 8:30 a.m. ET to review financial and operating results for the third quarter of fiscal 2026. A question and answer session will follow. To access the conference call, please dial (201) 689-8560 or find the webcast and accompanying slide presentation at https://investors.astronovainc.com/investors/events-and-presentations/default.aspx. A telephonic replay will be available from 12:00 p.m. ET on the day of the call through Wednesday, December 24, 2025. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13756179. The webcast replay will be available on the Investor Relations section of the Company’s website where a transcript will be posted once available. About AstroNova, Inc. AstroNova (Nasdaq: ALOT) is a leading innovator in specialized print technology solutions. The Company designs, manufactures, distributes and services a broad range of products that acquire, store, analyze, and present data in multiple formats on a variety of media. Its strategy is to drive profitable growth through innovative new technologies, building its installed base to expand recurring revenue while strategically sourcing its aftermarket products. The Product Identification segment provides a wide array of digital, end-to-end product marking and identification solutions, including hardware, software, and supplies for OEMs, commercial printers, and brand owners for printing on paper, labels, paperboard packaging, corrugated boxes, and paper bags. The Aerospace segment is a global leader in providing products designed for airborne printing solutions, avionics, and data acquisition including flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. More information about the Company can be found at www.astronovainc.com. Use of Non-GAAP Financial Measures In addition to financial measures prepared in accordance with generally accepted accounting principles (GAAP), this news release contains the Non-GAAP financial measures: Non-GAAP gross profit, Non-GAAP gross profit margin, Non-GAAP operating expenses, Non-GAAP operating income, Non-GAAP operating income margin, Non-GAAP net income (loss), Non-GAAP net income per Common Share - diluted , Non-GAAP segment gross profit, Non-GAAP segment gross profit margin, Non-GAAP segment operating income, Non-GAAP segment operating margin, Adjusted EBITDA, and Adjusted EBITDA Margin. AstroNova believes that the inclusion of these Non-GAAP financial measures helps investors gain a meaningful understanding of changes in the Company’s core operating results and can help investors who wish to make comparisons between AstroNova and other companies on both a GAAP and a Non-GAAP basis. AstroNova’s management uses these Non-GAAP financial measures, in addition to GAAP financial measures, as the basis for measuring its core operating performance and comparing such performance to that of prior periods and to the performance of its competitors. These measures are also used by the Company’s management to assist with their financial and operating decision-making. Please refer to the financial reconciliation table included in this news release for a reconciliation of the Non-GAAP measures to the most directly comparable GAAP measures for the nine months ended October 31, 2025 and November 2, 2024 and the year ending January 31, 2025. AstroNova has not reconciled the forward-looking Adjusted EBITDA margin included in its fiscal 2026 financial targets and outlook to the most directly comparable forward-looking GAAP measure because this cannot be done without unreasonable effort due to the lack of predictability regarding cost of sales, operating expenses, depreciation and amortization, and stock-based compensation. The impact of any of these items, individually or in the aggregate, may be significant. Forward-Looking Statements Information included in this news release 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 concerning future events and results. These statements may include the use of the words “believes,” “expects,” “intends,” “plans,” “anticipates,” “likely,” “continues,” “may,” “will,” and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning the Company’s anticipated performance, involve risks, uncertainties and other factors, some of which are beyond our control, which may cause our actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to, (i) the risk that our efforts to improve sales in our Product Identification segment may not result in the benefits we expect, (ii) the risk that our Aerospace customers may not continue to convert to our ToughWriter® printer in the volumes or on the schedule that we expect; (iii) the risk that we may not realize the anticipated benefits of our next-generation print engine technology; and (iv) those factors set forth in the Company’s Annual Report on Form 10-K for the fiscal year ended January 31, 2025 and subsequent filings AstroNova makes with the Securities and Exchange Commission. The Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release. ASTRONOVA, INC. Condensed Consolidated Statements of Income (Loss) (In thousands, except per share data) (Unaudited) Three Months Ended October 31, 2025 November 2, 2024 $ Variance % Variance Revenue $ 39,169 $ 40,422 $ (1,253 ) (3.1 )% Cost of Revenue 24,972 26,708 (1,736 ) (6.5 )% Gross Profit 14,197 13,714 483 3.5 % Total Gross Profit Margin 36.2 % 33.9 % Operating Expenses: Selling & Marketing 5,593 6,752 (1,159 ) (17.2 )% Research & Development 1,898 1,843 55 3.0 % General & Administrative 5,122 3,855 1,267 32.9 % Goodwill Impairment 297 — 297 100.0 % Total Operating Expenses 12,910 12,450 460 3.7 % Operating Income 1,287 1,264 23 1.8 % Total Operating Margin 3.3 % 3.1 % Interest Expense 827 944 (117 ) (12.4 )% Other (Income)/Expense, net 210 46 164 356.5 % Income Before Taxes 250 274 (24 ) (8.9 )% Income Tax Provision (Benefit) (128 ) 34 (162 ) (476.5 )% Net Income $ 378 $ 240 $ 138 57.3 % Net Income per Common Share - Basic $ 0.05 $ 0.03 Net Income per Common Share - Diluted $ 0.05 $ 0.03 Weighted Average Number of Common Shares - Basic 7,633 7,524 Weighted Average Number of Common Shares - Diluted 7,698 7,580 Nine Months Ended October 31, 2025 November 2, 2024 $ Variance % Variance Revenue $ 112,979 $ 113,922 $ (943 ) (0.8 )% Cost of Revenue 74,496 73,909 587 0.8 % Gross Profit 38,483 40,013 (1,530 ) (3.8 )% Total Gross Profit Margin 34.1 % 35.1 % Operating Expenses: Selling & Marketing 16,877 19,140 (2,263 ) (11.8 )% Research & Development 5,017 4,859 158 3.3 % General & Administrative 15,140 12,343 2,797 22.7 % Goodwill Impairment 297 — 297 100.0 % Total Operating Expenses 37,331 36,342 989 2.7 % Operating Income 1,152 3,671 (2,519 ) (68.6 )% Total Operating Margin 1.0 % 3.2 % Interest Expense 2,609 2,363 246 10.4 % Other (Income)/Expense, net 291 337 (46 ) (13.6 )% Income (Loss) Before Taxes (1,748 ) 971 (2,719 ) (280.1 )% Income Tax Provision (Benefit) (506 ) (139 ) (367 ) 264.0 % Net Income (Loss) $ (1,242 ) $ 1,110 $ (2,352 ) (211.9 )% Net Income (Loss) per Common Share - Basic $ (0.16 ) $ 0.15 Net Income (Loss) per Common Share - Diluted $ (0.16 ) $ 0.15 Weighted Average Number of Common Shares - Basic 7,601 7,501 Weighted Average Number of Common Shares - Diluted 7,601 7,605 ASTRONOVA, INC. Condensed Consolidated Balance Sheets (In thousands) (Unaudited) October 31, 2025 January 31, 2025 ASSETS CURRENT ASSETS Cash and Cash Equivalents $ 3,606 $ 5,050 Accounts Receivable, net 20,396 21,218 Inventories, net 45,124 47,894 Prepaid Expenses and Other Current Assets 5,022 3,855 Total Current Assets 74,148 78,017 PROPERTY, PLANT AND EQUIPMENT 61,183 58,613 Less Accumulated Depreciation (46,474 ) (42,820 ) Property, Plant and Equipment, net 14,709 15,793 OTHER ASSETS Identifiable Intangibles, net 22,070 23,519 Goodwill 17,121 16,361 Deferred Tax Assets, net 8,565 8,431 Right of Use Asset 2,573 1,781 Other Assets 1,647 1,693 TOTAL ASSETS $ 140,833 $ 145,595 LIABILITIES AND SHAREHOLDERS’ EQUITY CURRENT LIABILITIES Accounts Payable $ 7,402 $ 7,928 Accrued Compensation 4,036 3,745 Other Accrued Expenses 4,857 4,461 Revolving Line of Credit 18,146 20,929 Current Portion of Long-Term Debt 3,152 6,110 Short-Term Debt - 581 Current Liability – Royalty Obligation 1,600 1,358 Current Liability – Excess Royalty Payment Due 592 691 Deferred Revenue 846 543 Total Current Liabilities 40,631 46,346 NON-CURRENT LIABILITIES Long-Term Debt, net of current portion 18,978 19,044 Lease Liabilities, net of current portion 2,107 1,535 Grant Deferred Revenue 1,061 1,090 Royalty Obligation, net of current portion 354 1,106 Income Tax Payables 684 684 Deferred Tax Liabilities - 40 Other Long-Term Liability 138 - TOTAL LIABILITIES 63,953 69,845 SHAREHOLDERS’ EQUITY Common Stock 553 547 Additional Paid-in Capital 65,681 64,215 Retained Earnings 48,139 49,380 Treasury Stock (35,226 ) (35,043 ) Accumulated Other Comprehensive Loss, net of tax (2,267 ) (3,349 ) TOTAL SHAREHOLDERS’ EQUITY 76,880 75,750 TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY $ 140,833 $ 145,595 ASTRONOVA, INC. Condensed Consolidated Statements of Cash Flow (In thousands) (Unaudited) Nine Months Ended October 31, 2025 November 2, 2024 Cash Flows from Operating Activities: Net Income (Loss) $ (1,242 ) $ 1,110 Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities: Depreciation and Amortization 3,425 3,514 Grant Income Included in Depreciation 175 108 Goodwill Impairment 289 — Amortization of Debt Issuance Costs 33 22 Share-Based Compensation 1,559 1,159 Deferred Income Tax Provision (Benefit) (74 ) — Loss on Disposal of Fixed Assets 112 — Changes in Assets and Liabilities: Accounts Receivable 1,220 1,619 Inventories 3,780 1,380 Income Taxes (1,101 ) (1,534 ) Accounts Payable and Accrued Expenses (367 ) (2,371 ) Deferred Revenue 99 (1,080 ) Other 149 (1,603 ) Net Cash Provided by Operating Activities 8,057 2,324 Cash Flows from Investing Activities: Proceeds from Sale of Equipment 100 — Purchases of Property, Plant and Equipment (193 ) (1,086 ) Cash Paid for MTEX Acquisition, net of cash acquired - (19,109 ) Net Cash Used for Investing Activities (93 ) (20,195 ) Cash Flows from Financing Activities: Net Cash Proceeds from Employee Stock Option Plans - 13 Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan 50 98 Net Cash Used for Payment of Taxes Related to Vested Restricted Stock (183 ) (432 ) Revolving Credit Facility, net (3,177 ) 10,774 Proceeds from Long Term Debt Borrowings 19,720 15,078 Payment of Minimum Guarantee Royalty Obligation (959 ) (1,247 ) Principal Payments of Long-Term Debt (25,117 ) (6,706 ) Payments of Debt Issuance Costs (66 ) (37 ) Net Cash Provided by (Used for) Financing Activities (9,731 ) 17,541 Effect of Exchange Rate Changes on Cash and Cash Equivalents 324 235 Net Decrease Cash and Cash Equivalents (1,443 ) (95 ) Cash and Cash Equivalents, Beginning of Period $ 5,050 4,527 Cash and Cash Equivalents, End of Period 3,606 $ 4,432 Supplemental Information: Cash Paid (Received) During the Period for: Interest $ 2,292 $ 1,891 Income Taxes, net of refunds 621 $ 1,503 Non-Cash Transactions: Operating Lease Obtained in Exchange for Operating Lease Liabilities $ 986 $ 1,581 ASTRONOVA, INC. Segment Sales and Profit (Unaudited, $ in thousands) Three Months Ended Nine Months Ended ($ in thousands) October 31, 2025 November 2, 2024 October 31, 2025 November 2, 2024 Revenue: Product ID $ 26,849 $ 26,317 $ 77,891 $ 76,667 Aerospace 12,320 14,105 35,088 37,255 Total Revenue $ 39,169 $ 40,422 $ 112,979 $ 113,922 Gross Profit: Product ID $ 7,806 $ 8,407 $ 24,211 $ 25,354 Aerospace 6,391 5,307 14,272 14,659 Gross Profit $ 14,197 $ 13,714 $ 38,483 $ 40,013 Gross Profit Margin: Product ID 29.1 % 31.9 % 31.1 % 33.1 % Aerospace 51.9 % 37.6 % 40.7 % 39.3 % Gross Profit Margin 36.2 % 33.9 % 34.1 % 35.1 % Segment Operating Income: Product ID $ 1,878 $ 1,868 $ 6,585 $ 7,208 Aerospace 4,531 3,251 9,707 8,806 Total Segment Operating Income $ 6,409 $ 5,119 $ 16,292 $ 16,014 Segment Operating Margin: Product ID 7.0 % 7.1 % 8.5 % 9.4 % Aerospace 36.8 % 23.0 % 27.7 % 23.6 % Total Segment Operating Margin 16.4 % 12.7 % 14.4 % 14.1 % Corporate Expense (5,122 ) (3,855 ) (15,140 ) (12,343 ) Operating Income $ 1,287 $ 1,264 $ 1,152 $ 3,671 Interest Expense $ 827 $ 944 $ 2,609 $ 2,363 Other (Income)/Expense, net 210 46 291 337 Income Before Income Taxes $ 250 $ 274 $ (1,748 ) $ 971 Income Tax Provision (Benefit) (128 ) 34 (506 ) (139 ) Net Income $ 378 $ 240 $ (1,242 ) $ 1,110 ASTRONOVA, INC. Segment Sales and Non-GAAP Profit (Unaudited, $ in thousands) Three Months Ended Nine Months Ended ($ in thousands) October 31, 2025 November 2, 2024 October 31, 2025 November 2, 2024 Revenue: Product ID $ 26,849 $ 26,317 $ 77,891 $ 76,667 Aerospace 12,320 14,105 35,088 37,255 Total Revenue $ 39,169 $ 40,422 $ 112,979 $ 113,922 Gross Profit: Product ID $ 8,476 $ 8,441 $ 25,115 $ 25,508 Aerospace 6,080 5,307 14,126 14,659 Non-GAAP Gross Profit $ 14,556 $ 13,748 $ 39,241 $ 40,167 Gross Profit Margin: Product ID 31.6 % 32.1 % 32.2 % 33.3 % Aerospace 49.4 % 37.6 % 40.3 % 39.3 % Non-GAAP Gross Profit Margin 37.2 % 34.0 % 34.7 % 35.3 % Segment Operating Income: Product ID $ 2,852 $ 1,902 $ 7,994 $ 7,362 Aerospace 4,220 3,251 9,567 8,806 Total Non-GAAP Segment Operating Income $ 7,072 $ 5,153 $ 17,561 $ 16,168 Segment Operating Margin: Product ID 10.6 % 7.2 % 10.3 % 9.6 % Aerospace 34.3 % 23.0 % 27.3 % 23.6 % Total Non-GAAP Segment Operating Margin 18.1 % 12.7 % 15.5 % 14.2 % Corporate Expense (4,511 ) (3,530 ) (13,092 ) (10,961 ) Non-GAAP Operating Income $ 2,561 $ 1,623 $ 4,469 $ 5,207 Interest Expense $ 827 $ 944 $ 2,609 $ 2,363 Other (Income)/Expense, net (1 ) 46 78 337 Income Before Income Taxes $ 1,735 $ 633 $ 1,782 $ 2,507 Adjusted Income Tax Provision (Benefit) 204 120 309 242 Non-GAAP Net Income $ 1,531 $ 513 $ 1,473 $ 2,265 ASTRONOVA, INC. Revenue by Market (unaudited, $ in thousands) Product ID: Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY2025 Q1 FY26 Q2 FY26 Q3 FY26 Desktop Label Printers $ 14,220 $ 16,349 $ 15,408 $ 14,019 $ 59,996 $ 15,478 $ 15,190 $ 16,115 Mail & Sheet/Flat Pack Printers 3,930 3,471 3,679 4,494 15,574 4,050 3,740 4,280 Professional Label Printers 3,245 4,231 3,423 2,972 13,871 3,247 3,506 3,636 Direct to Package/Overprint Printers 1,787 2,925 3,627 2,718 11,057 3,396 2,230 2,371 Flexible Packaging Printers - - 15 1,289 1,304 30 69 79 Other 3 189 165 186 541 88 19 368 TOTAL $ 23,185 $ 27,165 $ 26,317 $ 25,678 $ 102,345 $ 26,289 $ 24,754 $ 26,849 Aerospace: Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY2025 Q1 FY26* Q2 FY26 Q3 FY26 Aftermarket $ 4,694 $ 5,326 $ 7,058 $ 5,481 $ 22,560 $ 4,911 $ 4,953 $ 4,955 Commercial Aircraft 3,813 6,299 5,221 4,363 19,696 4,953 4,714 5,764 Defense 329 608 734 781 2,452 811 1,047 766 Regional and Biz Jet Aircraft 697 604 993 802 3,096 396 431 634 Other 243 537 98 256 1,134 348 203 201 TOTAL $ 9,776 $ 13,374 $ 14,105 $ 11,683 $ 48,938 $ 11,419 $ 11,348 $ 12,320 Consolidated Total $ 32,961 $ 40,539 $ 40,422 $ 37,361 $ 151,283 $ 37,708 $ 36,102 $ 39,169 *Q1 fiscal 2026 revenue by market has been revised from amount previously reported in our Q1 fiscal 2026 press release issued on June 5, 2025, to correct a classification error between market categories. Total Q1 fiscal sales were unaffected. ASTRONOVA, INC. Revenue by Type (unaudited, $ in thousands) Product ID Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 Product ID HW $ 3,802 $ 4,311 $ 4,590 $ 5,591 $ 18,294 $ 4,776 $ 4,511 $ 5,357 Product ID Recurring Supplies, Parts & Service 19,383 22,854 21,727 20,087 84,051 21,513 20,243 21,492 Total Product ID $ 23,185 $ 27,165 $ 26,317 $ 25,678 $ 102,345 $ 26,289 $ 24,754 $ 26,849 Aerospace Aerospace HW $ 5,073 $ 8,048 $ 7,032 $ 6,185 $ 26,338 $ 6,519 $ 6,425 $ 7,360 Aerospace Recurring Supplies, Parts & Service 4,703 5,326 7,073 5,498 22,600 4,900 4,923 4,960 Total Aerospace $ 9,776 $ 13,374 $ 14,105 $ 11,683 $ 48,938 $ 11,419 $ 11,348 $ 12,320 Consolidated AstroNova HW $ 8,875 $ 12,359 $ 11,622 $ 11,776 $ 44,632 $ 11,295 $ 10,936 $ 12,717 AstroNova Recurring Supplies, Parts & Service 24,086 28,180 28,800 25,585 106,651 26,413 25,166 26,452 TOTAL $ 32,961 $ 40,539 $ 40,422 $ 37,361 $ 151,283 $ 37,708 $ 36,102 $ 39,169 ASTRONOVA, INC. Bookings and Backlog (unaudited, $ in thousands) AstroNova Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 Beginning backlog (Non-MTEX) $ 31,394 $ 31,556 $ 29,900 $ 27,093 $ 31,394 $ 28,307 $ 25,491 $ 25,291 MTEX* $ - $ 3,084 $ - $ - $ 3,084 $ - $ - $ - Backlog Beginning of Period (incl. MTEX) $ 31,394 $ 34,640 $ 29,900 $ 27,093 $ 34,478 $ 28,307 $ 25,491 $ 25,291 Revenue Recognized (Billings) $ 32,961 $ 40,539 $ 40,422 $ 37,361 $ 151,283 $ 37,708 $ 36,102 $ 39,169 New Bookings During Period $ 33,122 $ 35,799 $ 37,615 $ 38,576 $ 145,112 $ 34,893 $ 35,901 $ 35,867 Backlog End of Period $ 31,556 $ 29,900 $ 27,093 $ 28,307 $ 28,307 $ 25,491 $ 25,291 $ 21,989 Book/Bill % 100 % 88 % 93 % 103 % 96 % 93 % 99 % 92 % *MTEX Backlog was acquired during 2nd quarter fiscal 2025 Product Identification Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 Beginning backlog (Non-MTEX) $ 19,725 $ 19,467 $ 18,786 $ 19,254 $ 19,725 $ 18,091 $ 18,044 $ 16,727 MTEX* $ - $ 3,084 $ - $ - $ 3,084 $ - $ - $ - Backlog Beginning of Period (incl. MTEX) $ 19,725 $ 22,551 $ 18,786 $ 19,254 $ 22,809 $ 18,091 $ 18,044 $ 16,727 Revenue Recognized (Billings) $ 23,185 $ 27,165 $ 26,317 $ 25,678 $ 102,345 $ 26,289 $ 24,754 $ 26,849 New Bookings During Period $ 22,926 $ 23,400 $ 26,785 $ 24,516 $ 97,627 $ 26,242 $ 23,437 $ 22,473 Backlog End of Period $ 19,467 $ 18,786 $ 19,254 $ 18,091 $ 18,091 $ 18,044 $ 16,727 $ 12,351 Book/Bill % 99 % 86 % 102 % 95 % 95 % 100 % 95 % 84 % *MTEX Backlog was acquired during 2nd quarter fiscal 2025 Aerospace Q1 FY25 Q2 FY25 Q3 FY25 Q4 FY25 FY 2025 Q1 FY26 Q2 FY26 Q3 FY26 Backlog Beginning of Period $ 11,669 $ 12,089 $ 11,114 $ 7,839 $ 11,669 $ 10,216 $ 7,447 $ 8,563 Revenue Recognized (Billings) $ 9,776 $ 13,374 $ 14,105 $ 11,683 $ 48,938 $ 11,419 $ 11,348 $ 12,320 New Bookings During Period $ 10,196 $ 12,399 $ 10,830 $ 14,060 $ 47,485 $ 8,651 $ 12,464 $ 13,394 Backlog End of Period $ 12,089 $ 11,114 $ 7,839 $ 10,216 $ 10,216 $ 7,447 $ 8,563 $ 9,638 Book/Bill % 104 % 93 % 77 % 120 % 97 % 76 % 110 % 109 % ASTRONOVA, INC. Reconciliation of GAAP to Non-GAAP Items (Unaudited, $ in thousands) Three Months Ended October 31, 2025 November 2, 2024 Revenue $ 39,169 $ 40,422 Gross Profit $ 14,197 $ 13,714 Inventory Step-Up - 34 Inventory Provision 360 - Non-GAAP Gross Profit $ 14,557 $ 13,748 Gross Profit Margin 36.2 % 33.9 % Non-GAAP Gross Profit Margin 37.2 % 34.0 % Operating Expenses $ 12,910 $ 12,450 MTEX-related Acquisition Expenses - (325 ) Restructuring Charges (58 ) - Non-Recurring Legal Expenses (387 ) - Non-Recurring Proxy Costs (172 ) - Goodwill Impairment (297 ) - Non-GAAP Operating Expenses $ 11,996 $ 12,125 Operating Income $ 1,287 $ 1,264 MTEX-related Acquisition Expenses - 325 Inventory Step-Up - 34 Inventory Provision 360 - Restructuring Charges 58 - Non-Recurring Legal Expenses 387 - Non-Recurring Proxy Costs 172 - Goodwill Impairment 297 - Non-GAAP Operating Income $ 2,561 $ 1,623 Operating Income Margin 3.3 % 3.1 % Non-GAAP Operating Income Margin 6.5 % 4.0 % Net Income $ 378 $ 240 MTEX-related Acquisition Expenses(1) - 247 Inventory Step-Up(1) - 26 Inventory Provision(1) 275 - Restructuring Charges(1) 43 - Non-Recurring Legal Expenses(1) 301 - Non-Recurring Proxy Costs(1) 131 - Realized Fx(1) 80 - Other (Income) and Expense(1) 85 - Goodwill Impairment(1) 238 - Non-GAAP Net Income $ 1,532 $ 513 Diluted Earnings Per Share $ 0.05 $ 0.03 MTEX-related Acquisition Expenses(1) - 0.03 Inventory Provision(1) 0.04 - Restructuring Charges(1) - - Non-Recurring Legal Expenses(1) 0.04 - Non-Recurring Proxy Costs(1) 0.02 - Realized Fx(1) 0.01 - Other (Income) and Expense(1) 0.01 - Goodwill Impairment(1) 0.03 - Non-GAAP Diluted Earnings Per Share $ 0.20 $ 0.06 (1)Net of taxes ASTRONOVA, INC. Reconciliation of GAAP to Non-GAAP Items (Unaudited, $ in thousands) Nine Months Ended October 31, 2025 November 2, 2024 Revenue $ 112,979 $ 113,922 Gross Profit $ 38,483 $ 40,013 Inventory Step-Up 61 154 Inventory Provision 360 - Restructuring Charges 337 - Non-GAAP Gross Profit $ 39,241 $ 40,167 Gross Profit Margin 34.1 % 35.1 % Non-GAAP Gross Profit Margin 34.7 % 35.3 % Operating Expenses $ 37,331 $ 36,342 MTEX-related Acquisition Expenses (311 ) (1,382 ) Restructuring Charges (968 ) - Non-Recurring Legal Expenses (457 ) - Non-Recurring Proxy Costs (527 ) - Realized Fx (100 ) - Other (Income) and Expense (112 ) - Goodwill Impairment (297 ) - Non-GAAP Operating Expenses $ 34,559 $ 34,960 Operating Income $ 1,152 $ 3,671 MTEX-related Acquisition Expenses 311 1,382 Inventory Step-Up 61 154 Inventory Provision 360 - Restructuring Charges 1,305 - Non-Recurring Legal Expenses 457 - Non-Recurring Proxy Costs 527 - Realized Fx 100 - Other (Income) and Expense 112 - Goodwill Impairment 297 - Non-GAAP Operating Income $ 4,682 $ 5,207 Operating Income Margin 1.0 % 3.2 % Non-GAAP Operating Income Margin 4.1 % 4.6 % Net Income (Loss) $ (1,242 ) $ 1,110 MTEX-related Acquisition Expenses(1) 238 1,044 Inventory Step-Up(1) 49 111 Inventory Provision(1) 275 - Restructuring Charges(1) 1,001 - Non-Recurring Legal Expenses(1) 354 - Non-Recurring Proxy Costs(1) 403 - Realized Fx(1) 80 - Other (Income) and Expense(1) 86 - Goodwill Impairment 238 - Non-GAAP Net Income (Loss) $ 1,480 $ 2,265 Diluted Earnings (Loss) Per Share $ (0.16 ) $ 0.15 MTEX-related Acquisition Expenses(1) 0.03 0.14 Inventory Step-Up(1) 0.01 0.01 Inventory Provision(1) 0.04 - Restructuring Charges(1) 0.13 - Non-Recurring Legal Expenses(1) 0.05 - Non-Recurring Proxy Costs(1) 0.05 - Realized Fx(1) 0.01 - Other (Income) and Expense(1) 0.01 - Goodwill Impairment 0.03 - Non-GAAP Diluted Earnings Per Share $ 0.20 $ 0.30 (1)Net of taxes ASTRONOVA, INC. Reconciliation of Net Income and Margin to Adjusted EBITDA and Margin (Unaudited, $ in thousands) Three Months Ended October 31, 2025 November 2, 2024 Net Income $ 378 $ 240 Interest Expense 827 944 Income Tax Expense (Benefit) (128 ) 34 Depreciation & Amortization 855 1,298 EBITDA $ 1,932 $ 2,516 Share-Based Compensation 754 353 MTEX-related Acquisition Expenses - 325 Inventory Step-Up - 34 Inventory Provision 360 - Restructuring Charges 58 - Non-Recurring Legal Expenses 387 - Non-Recurring Proxy Costs 172 - Realized Fx 100 - Other (Income) and Expense 112 - Goodwill Impairment 297 - Adjusted EBITDA $ 4,172 $ 3,228 Revenue $ 39,169 $ 40,422 Net Income Margin 1.0 % 0.6 % Adjusted EBITDA Margin 10.7 % 8.0 % Nine Months Ended October 31, 2025 November 2, 2024 Net Income (Loss) $ (1,242 ) $ 1,110 Interest Expense 2,609 2,363 Income Tax Expense (Benefit) (506 ) (139 ) Depreciation & Amortization 3,425 3,514 EBITDA $ 4,286 $ 6,848 Share-Based Compensation 1,559 1,159 MTEX-related Acquisition Expenses 311 1,382 Inventory Step-Up 61 154 Inventory Provision 360 - Restructuring Charges 1,305 - Non-Recurring Legal Expenses 457 - Non-Recurring Proxy Costs 527 - Realized Fx 100 - Other (Income) and Expense 112 - Goodwill Impairment 297 - Adjusted EBITDA $ 9,375 $ 9,543 Revenue $ 112,979 $ 113,922 Net Income (Loss) Margin (1.1 )% 1.0 % Adjusted EBITDA Margin 8.3 % 8.4 % ASTRONOVA, INC. Reconciliation of Segment Gross Profit and Margin to Non-GAAP Gross Profit and Margin (Unaudited, $ in thousands) Three Months Ended October 31, 2025 November 2, 2024 Product ID Aerospace Total Product ID Aerospace Total Segment Gross Profit $ 7,806 $ 6,391 $ 14,197 $ 8,407 $ 5,307 $ 13,714 Inventory Step-Up - - - 34 - 34 Inventory Provision 671 (311 ) 360 - - - Non-GAAP - Segment Gross Profit $ 8,477 $ 6,080 $ 14,557 $ 8,441 $ 5,307 $ 13,748 Revenue $ 26,849 $ 12,320 $ 39,169 $ 26,317 $ 14,105 $ 40,422 Gross Profit Margin 29.1 % 51.9 % 36.2 % 31.9 % 37.6 % 33.9 % Non-GAAP Segment Gross Profit Margin 31.6 % 49.4 % 37.2 % 32.1 % 37.6 % 34.0 % Nine Months Ended October 31, 2025 November 2, 2024 Product ID Aerospace Total Product ID Aerospace Total Segment Gross Profit $ 24,211 $ 14,272 $ 38,483 $ 25,354 $ 14,659 $ 40,013 Inventory Step-Up 61 - 61 154 - 154 Inventory Provision 671 (311 ) 360 - - - Restructuring Charges 173 165 338 - - - Non-GAAP - Segment Gross Profit $ 25,116 $ 14,126 $ 39,242 $ 25,508 $ 14,659 $ 40,167 Revenue $ 77,890 $ 35,089 $ 112,979 $ 76,667 $ 37,255 $ 113,922 Gross Profit Margin 31.1 % 40.7 % 34.1 % 33.1 % 39.3 % 35.1 % Non-GAAP Segment Gross Profit Margin 32.2 % 40.3 % 34.7 % 33.3 % 39.3 % 35.3 % Note: Segment Operating Income excludes General & Administrative Expenses ASTRONOVA, INC. Reconciliation of Segment Operating Profit and Margin to Non-GAAP Operating Profit and Margin (Unaudited, $ in thousands) Three Months Ended October 31, 2025 November 2, 2024 Product ID Aerospace Total Product ID Aerospace Total Segment Operating Income $ 1,878 $ 4,531 $ 6,409 $ 1,868 $ 3,251 $ 5,119 Inventory Step-Up - - - 34 - 34 Inventory Provision 671 (311 ) 360 - - - Goodwill Impairment 297 - 297 - - - Restructuring Charges 7 - 7 - - - Non-GAAP - Segment Operating Income $ 2,853 $ 4,220 $ 7,073 $ 1,902 $ 3,251 $ 5,153 Revenue $ 26,849 $ 12,320 $ 39,169 $ 26,317 $ 14,105 $ 40,422 Operating Margin 7.0 % 36.8 % 16.4 % 7.1 % 23.0 % 12.7 % Non-GAAP Operating Margin 10.6 % 34.3 % 18.1 % 7.2 % 23.0 % 12.7 % Nine Months Ended October 31, 2025 November 2, 2024 Product ID Aerospace Total Product ID Aerospace Total Segment Operating Income $ 6,585 $ 9,707 $ 16,292 $ 7,208 $ 8,806 $ 16,014 Inventory Step-Up 61 - 61 154 - 154 Inventory Provision 671 (311 ) 360 - - - Goodwill Impairment 297 - 297 - - - Restructuring Charges 381 171 552 - - - Non-GAAP - Segment Operating Income $ 7,995 $ 9,567 $ 17,562 $ 7,362 $ 8,806 $ 16,168 Revenue $ 77,890 $ 35,089 $ 112,979 $ 76,667 $ 37,255 $ 113,922 Operating Margin 8.5 % 27.7 % 14.4 % 9.4 % 23.6 % 14.1 % Non-GAAP Operating Margin 10.3 % 27.3 % 15.5 % 9.6 % 23.6 % 14.2 % Note: Segment Operating Income excludes General & Administrative Expenses Source: AstroNova, Inc.

View original release