AstroNova Reports 4.4% Growth in Sales for First Quarter Fiscal 2027

Key Terms

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

book-to-bill ratio financial

The book-to-bill ratio compares the value of new orders a company receives to the value of products it ships out or bills for over a certain period. If the ratio is above 1, it means the company is getting more orders than it is completing, which can indicate growth. If it's below 1, it suggests demand is slowing down.

operating margin financial

Operating margin shows how much profit a company makes from its core business activities after paying for costs like wages and materials. It’s useful because it tells you how efficiently a company is running—higher margins mean it keeps more money from each dollar of sales, which can indicate better management or stronger products.

recurring revenue financial

Revenue that a company expects to receive on a regular, predictable basis from ongoing sources such as subscriptions, service contracts, or repeat customer purchases. It matters to investors because it provides steadier cash flow and makes future earnings easier to forecast—like a landlord collecting monthly rent instead of one-off sales—supporting higher valuations and lower risk when those payments are reliable and customers tend to stay.

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• Revenue increased $1.7 million to $39.4 million driven by Aerospace sales growth of 16.3%
• Consolidated operating profit grew to $1.6 million and operating margin expanded 250 bps to 4.0%
• Net income increased $1.0 million year-over-year to $0.7 million, or $0.08 per diluted share, compared with prior-year loss; Adjusted EBITDA increased 31.0% to $4.1 million
• Total orders in the quarter were up 32.6% to $46.3 million for a book-to-bill ratio of 118%
• Total debt of $35.9 million was reduced by $8.8 million compared with the first quarter of fiscal 2026 and $1.7 million compared with the fourth quarter of fiscal 2026; net debt of $31.2 million was down $2.3 million in the quarter compared with the fourth quarter of fiscal 2026

WEST WARWICK, R.I.--(BUSINESS WIRE)-- AstroNova, Inc. (Nasdaq: ALOT), a leading innovator in specialized print technology solutions, today announced financial results for its fiscal 2027 first quarter ended April 30, 2026.

Jorik Ittmann, President and Chief Executive Officer of AstroNova, stated, “We had a solid start to fiscal 2027, with revenue increasing over 4% while operating profit grew over 170%. Our ToughWriter^® branded flight deck printer is now the predominant product sold by our Aerospace segment. As a result, we had higher volume combined with improved pricing which drove profitability for that segment. In addition, our Product ID progress continues to strengthen its sales, marketing and operations with upgraded talent and an ever more sophisticated, customer-centric approach to the business. We are encouraged by our momentum and remain confident in the outlook for a strong year.”

First Quarter Fiscal 2027 Overview¹ (comparisons are to the prior-year period unless noted otherwise)

		Three Months Ended
		April 30, 2026				April 30, 2025				$ Variance			% Variance
Revenue		$	39,364			$	37,708			$	1,656		4.4	%
Gross Profit		$	14,425			$	11,951			$	2,474		20.7	%
Gross Profit Margin			36.6	%			31.7	%
Non-GAAP Gross Profit		$	14,552			$	12,352			$	2,200		17.8	%
Non-GAAP Adjusted Gross Profit Margin			36.9	%			32.8	%
Operating Income (Loss)		$	1,562			$	571			$	991		173.7	%
Operating Margin			4.0	%			1.5	%
Non-GAAP Operating Income		$	2,589			$	1,527			$	1,062		69.5	%
Non-GAAP Operating Income Margin			6.6	%			4.0	%
Net Income (Loss)		$	653			$	(376	)		$	1,029		(273.5	)%
Non-GAAP Net Income (Loss)		$	1,443			$	354			$	1,089		307.8	%
Adjusted EBITDA		$	4,122			$	3,148			$	974		30.9	%
Adjusted EBITDA Margin			10.5	%			8.3	%
____________________________________
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 prior-year period, revenue increased $1.7 million, or 4.4%, driven by Aerospace segment growth that was marginally offset by a slight decline in Product ID revenue. Tariff mitigation contributed $0.7 million in revenue and foreign currency translation was a $0.6 million benefit to revenue in the quarter.

Gross profit increased $2.5 million, or 20.7%, and gross margin expanded 490 basis points to 36.6% primarily reflecting higher Aerospace volume and favorable mix. On an adjusted basis, excluding restructuring charges of $0.4 million and a $0.3 million net inventory reserve reversal, gross margin expanded 410 basis points from the prior-year to 36.9%.

Operating expenses in the quarter of $12.9 million included $0.7 million of non-recurring legal and professional fees. Higher gross profit combined with cost containment initiatives resulted in operating income increasing $1.0 million to $1.6 million in the quarter while operating margin expanded 250 basis points. Excluding non-recurring items, non-GAAP operating income increased 69.5% to $2.6 million compared with the prior-year period.

Interest expense of $0.7 million decreased $0.2 million from the prior-year period, reflecting lower outstanding debt. Net income grew to $0.7 million, or $0.08 per diluted share, compared with a net loss in the prior-year period. Non-GAAP net income increased to $1.4 million, or $0.19 per share, as a result of the improved performance in the quarter. Adjusted EBITDA was $4.1 million and Adjusted EBITDA margin was 10.5%.

Aerospace Segment Review

Aerospace segment revenue grew $1.9 million, or 16.3%, to $13.3 million compared with the prior year. Growth was driven by higher hardware volume and favorable product mix as commercial OEM production rates continued to increase. Aerospace hardware revenue grew 37.9% to $9.0 million year-over-year reflecting continued conversion to the ToughWriter^® platform.

Aerospace segment operating profit increased $1.9 million, or 96%, to $3.9 million driven by improved volume and pricing. Non-GAAP segment operating income was $3.4 million, or 25.6% of revenue, compared with $2.2 million in the prior-year period.

Orders in the quarter for the Aerospace segment increased 125.1% to $19.5 million for a book-to-bill ratio of 147% reflecting strong demand from OEMs for new build aircraft. Backlog at the end of the first quarter was $18.2 million, an increase of $6.2 million from the end of fiscal 2026 and more than double the $7.4 million at the end of the prior-year period.

Product Identification (Product ID) Segment Review

Product ID revenue was $26.1 million for the first quarter of fiscal 2027, down 0.8%, or $0.2 million, compared with the prior year. Hardware revenue increased modestly on new customer acquisition while recurring revenue was down $0.2 million. Recurring revenue represented approximately 82% of total segment sales. The year-over-year decline in direct-to-package revenue reflects the planned migration from legacy Trojan-platform products to MTEX-based solutions that the Company expects to begin to ramp in the second quarter of fiscal 2027.

Product ID segment operating income was $0.6 million, double over the prior-year period, reflecting improving productivity, better cost control and favorable aftermarket mix. Non-GAAP segment operating income was $1.3 million, or 4.8% of revenue, compared with $1.0 million in the prior-year period.

Orders in the quarter for the Product ID segment increased $0.5 million, or 2.1%, to $26.8 million compared with the prior-year period. The book-to-bill ratio for the segment was 103% and backlog at the end of the first quarter was $14.2 million.

Balance Sheet and Cash Flow

Cash from operations in the first quarter of fiscal 2027 was $3.0 million compared with $4.4 million in the prior year period as stronger cash earnings were offset by higher working capital requirements due to timing of receivables from customers and inventory requirements to support growth.

Capital expenditures in the quarter were $36 thousand compared with $60 thousand in the prior year.

Cash at the end of the first quarter of fiscal 2027 was $4.7 million compared with $4.1 million at the end of fiscal 2026. Net debt as of April 30, 2026, was $31.2 million, a reduction of $2.3 million, or 6.9%, compared with the end of the fourth quarter of fiscal 2026.

Earnings Conference Call Information

AstroNova will host a conference call and webcast at 8:15 a.m. ET on Monday, June 8, 2026, to review financial and operating results for the first quarter of fiscal 2027. 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 Monday, June 22, 2026. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13760545. 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 global provider of printing technologies serving regulated and industrial markets. The Company designs, manufactures, distributes, and services solutions that enable customers to identify, track, and communicate essential product and safety information across a wide range of applications and media. AstroNova supports customers by enabling safety, accuracy and durability for flight deck communications, medical device and healthcare products, essential chemical products, and mission-critical industrial components, while ensuring compliance with local and regional regulatory requirements.

The Product Identification segment delivers end-to-end marking and identification solutions, including hardware, software, and consumables for OEMs, commercial printers, and brand owners. These solutions are used across labels, flexible packaging, corrugated, and industrial substrates, where durability, traceability, and compliance are essential. 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. For more information please visit: 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 three months ended April 30, 2026 and 2025.

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, 2026 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
		April 30, 2026				April 30, 2025				$ Variance				% Variance
Revenue		$	39,364			$	37,708			$	1,656			4.4	%
Cost of Revenue			24,939				25,757				(818	)		(3.2	)%
Gross Profit			14,425				11,951				2,474			20.7	%
Total Gross Profit Margin			36.6	%			31.7	%
Operating Expenses:
Selling & Marketing			5,692				5,605				87			1.6	%
Research & Development			1,809				1,529				280			18.3	%
General & Administrative			5,363				4,246				1,117			26.3	%
Total Operating Expenses			12,864				11,380				1,484			13.0	%
Operating Income			1,562				571				991			173.7	%
Total Operating Margin			4.0	%			1.5	%
Interest Expense			675				897				(222	)		(24.7	)%
Other (Income)/Expense, net			38				(25	)			63			(250.0	)%
Income (Loss) Before Taxes			849				(301	)			1,150			(381.7	)%
Income Tax Provision			196				75				121			161.3	%
Net Income (Loss)		$	653			$	(376	)		$	1,029			(273.5	)%
Net Income (Loss) per Common Share - Basic		$	0.09			$	(0.05	)
Net Income (Loss) per Common Share - Diluted		$	0.08			$	(0.05	)
Weighted Average Number of Common Shares - Basic			7,678				7,560
Weighted Average Number of Common Shares - Diluted			7,774				7,560

ASTRONOVA, INC.
Condensed Consolidated Balance Sheets
(In thousands)
(Unaudited)
		April 30, 2026				Jan 31, 2026
ASSETS
CURRENT ASSETS
Cash and Cash Equivalents		$	4,675			$	4,072
Accounts Receivable, net			21,627				18,985
Inventories, net			43,926				43,252
Prepaid Expenses and Other Current Assets			4,425				4,395
Total Current Assets			74,653				70,704
PROPERTY, PLANT AND EQUIPMENT			40,364				40,400
Less Accumulated Depreciation			(26,718	)			(26,272	)
Property, Plant and Equipment, net			13,646				14,128
OTHER ASSETS
Identifiable Intangibles, net			20,684				21,496
Goodwill			17,244				17,376
Deferred Tax Assets, net			9,780				9,831
Right of Use Asset			2,307				2,466
Other Assets			1,542				1,565
TOTAL ASSETS		$	139,856			$	137,566
LIABILITIES AND SHAREHOLDERS’ EQUITY
CURRENT LIABILITIES
Accounts Payable		$	7,601			$	6,806
Accrued Compensation			4,673				4,390
Other Accrued Expenses			7,564				4,702
Revolving Line of Credit			15,398				16,273
Current Portion of Long-Term Debt			4,272				3,033
Current Liability – Royalty Obligation			1,233				1,656
Current Liability – Excess Royalty Payment Due			194				331
Income Taxes Payable			1,036				691
Deferred Revenue			393				489
Total Current Liabilities			42,364				38,371
NON-CURRENT LIABILITIES
Long-Term Debt, net of current portion			16,234				18,295
Lease Liabilities, net of current portion			1,784				1,953
Grant Deferred Revenue			926				899
Royalty Obligation, net of current portion			160				145
Income Tax Payables			800				800
Other Long-Term Liability			66				241
TOTAL LIABILITIES			62,334				60,704
SHAREHOLDERS’ EQUITY
Common Stock			558				554
Additional Paid-in Capital			66,889				66,329
Retained Earnings			47,657				47,004
Treasury Stock			(35,418	)			(35,227	)
Accumulated Other Comprehensive Loss, net of tax			(2,164	)			(1,798	)
TOTAL SHAREHOLDERS’ EQUITY			77,522				76,862
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY		$	139,856			$	137,566

ASTRONOVA, INC.
Condensed Consolidated Statements of Cash Flow – Three Months
(In thousands)
(Unaudited)
	Three Months Ended
	April 30, 2026				April 30, 2025
Cash Flows from Operating Activities:
Net Income (Loss)	$	653			$	(376	)
Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:
Depreciation and Amortization		1,182				1,290
Grant Income Included in Depreciation		69				56
Amortization of Debt Issuance Costs		10				8
Share-Based Compensation		389				306
Deferred Income Tax Provision (Benefit)		37				(52	)
Changes in Assets and Liabilities:
Accounts Receivable		(2,691	)			210
Inventories		(766	)			(2,704	)
Income Taxes		146				172
Accounts Payable and Accrued Expenses		3,902				3,622
Deferred Revenue		(73	)			1,041
Other		163				822
Net Cash Provided by Operating Activities		3,021				4,395
Cash Flows from Investing Activities:
Purchases of Property, Plant and Equipment		(36	)			(60	)
Net Cash Used for Investing Activities		(36	)			(60	)
Cash Flows from Financing Activities:
Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan		—				51
Net Cash Used for Payment of Taxes Related to Vested Restricted Stock		(191	)			(155	)
Revolving Credit Facility, net		(824	)			(2,872	)
Payment of Minimum Guarantee Royalty Obligation		(423	)			(428	)
Principal Payments of Long-Term Debt		(809	)			(826	)
Net Cash Provided by (Used for) Financing Activities		(2,247	)			(4,230	)
Effect of Exchange Rate Changes on Cash and Cash Equivalents		(135	)			198
Net Increase in Cash and Cash Equivalents		602				303
Cash and Cash Equivalents, Beginning of Period		4,072				5,050
Cash and Cash Equivalents, End of Period	$	4,675			$	5,353
Supplemental Information:
Cash Paid (Received) During the Period for:
Interest	$	652			$	770
Income Taxes, net of refunds	$	50			$	(100	)
Non-Cash Transactions:
Operating Lease Obtained in Exchange for Operating Lease Liabilities	$	—			$	936

ASTRONOVA, INC.
Segment Sales and Profit
(Unaudited, $ in thousands)
		Three Months Ended
($ in thousands)		April 30, 2026				April 30, 2025
Revenue:
Product ID		$	26,089			$	26,289
Aerospace			13,275				11,419
Total Revenue		$	39,364			$	37,708
Gross Profit:
Product ID		$	8,403			$	8,233
Aerospace			6,022				3,718
Gross Profit		$	14,425			$	11,951
Gross Profit Margin:
Product ID			32.2	%			31.3	%
Aerospace			45.4	%			32.6	%
Gross Profit Margin			36.6	%			31.7	%
Segment Operating Income:
Product ID		$	566			$	260
Aerospace			3,878				1,979
Total Segment Operating Income		$	4,444			$	2,239
Segment Operating Margin:
Product ID			2.2	%			1.0	%
Aerospace			29.2	%			17.3	%
Total Segment Operating Margin			11.3	%			5.9	%
Corporate Expense			(2,882	)			(1,668	)
Operating Income (Loss)		$	1,562			$	571
Interest Expense			675				897
Other (Income)/Expense, net			38				(25	)
Income (Loss) Before Income Taxes		$	849			$	(301	)
Income Tax Provision (Benefit)			196				75
Net Income (Loss)		$	653			$	(376	)

ASTRONOVA, INC.
Segment Sales and Non-GAAP Profit
(Unaudited, $ in thousands)
		Three Months Ended
($ in thousands)		April 30, 2026				April 30, 2025
Revenue:
Product ID		$	26,089			$	26,289
Aerospace			13,275				11,419
Total Revenue		$	39,364			$	37,708
Gross Profit:
Product ID		$	9,023			$	8,465
Aerospace			5,527				3,887
Non-GAAP Gross Profit		$	14,550			$	12,352
Gross Profit Margin:
Product ID			34.6	%			32.2	%
Aerospace			41.6	%			34.0	%
Non-GAAP Gross Profit Margin			36.9	%			32.8	%
Segment Operating Income:
Product ID		$	1,263			$	995
Aerospace			3,393				2,150
Total Non-GAAP Segment Operating Income		$	4,656			$	3,145
Segment Operating Margin:
Product ID			4.8	%			3.8	%
Aerospace			25.6	%			18.8	%
Total Non-GAAP Segment Operating Margin			11.8	%			8.3	%
Corporate Expense			(2,067	)			(1,620	)
Non-GAAP Operating Income		$	2,589			$	1,527
Interest Expense		$	675			$	897
Other (Income)/Expense, net			38				(25	)
Income Before Income Taxes		$	1,876			$	655
Adjusted Income Tax Provision (Benefit)			433				301
Non-GAAP Net Income		$	1,443			$	354

ASTRONOVA, INC.
Revenue by Market
(unaudited, $ in thousands)
Product ID:		Q1 FY26			Q2 FY26			Q3 FY26			Q4 FY26			FY2026			Q1 FY27			YTD FY2027
Desktop Label Printers		$	15,478		$	15,190		$	16,115			15,041			61,824		$	15,466			15,466
Mail & Sheet/Flat Pack Printers			4,050			3,740			4,280			4,138			16,208			4,095			4,095
Professional Label Printers			3,247			3,506			3,636			3,863			14,252			3,503			3,503
Direct to Package/Overprint Printers			3,396			2,230			2,371			2,579			10,576			2,248			2,248
Flexible Packaging Printers			30			69			79			38			216			47			47
Other			88			19			368			670			1,145			731			731
TOTAL		$	26,289		$	24,754		$	26,849			26,329			104,221		$	26,089			26,089
Aerospace:		Q1 FY26*			Q2 FY26			Q3 FY26			Q4 FY26			FY2026			Q1 FY27			YTD FY2027
Commercial Aircraft		$	4,953		$	4,714		$	5,764		$	5,030		$	20,461		$	7,247		$	7,247
Aftermarket			4,911			4,953			4,955			4,831			19,650			4,275			4,275
Defense			811			1,047			766			885			3,509			754			754
Regional and Biz Jet Aircraft			396			431			634			195			1,656			564			564
Other			348			203			201			266			1,018			435			435
TOTAL		$	11,419		$	11,348		$	12,320		$	11,207		$	46,294		$	13,275		$	13,275
Consolidated Total		$	37,708		$	36,102		$	39,169			37,536			150,515		$	39,364			39,364
*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 2026 fiscal sales were unaffected.

ASTRONOVA, INC.
Revenue by Type
(unaudited, $ in thousands)
Product ID		Q1 FY26			Q2 FY26			Q3 FY26			Q4 FY26			FY 2026			Q1 FY27			YTD FY2027
Product ID HW		$	4,776		$	4,511		$	5,357		$	5,332		$	19,976		$	4,783		$	4,783
Product ID Recurring Supplies, Parts & Service			21,513			20,243			21,492			20,997			84,245			21,306			21,306
Total Product ID		$	26,289		$	24,754		$	26,849		$	26,329		$	104,221		$	26,089		$	26,089
Aerospace
Aerospace HW		$	6,519		$	6,425		$	7,360		$	6,369		$	26,672		$	8,992		$	8,992
Aerospace Recurring Supplies, Parts & Service			4,900			4,923			4,960			4,838			19,622			4,283			4,283
Total Aerospace		$	11,419		$	11,348		$	12,320		$	11,207		$	46,294		$	13,275		$	13,275
Consolidated
AstroNova HW		$	11,295		$	10,936		$	12,717		$	11,701		$	46,648		$	13,775		$	13,775
AstroNova Recurring Supplies, Parts & Service			26,413			25,166			26,452			25,835			103,867			25,589			25,589
TOTAL		$	37,708		$	36,102		$	39,169		$	37,536		$	150,515		$	39,364		$	39,363

ASTRONOVA, INC.
Bookings and Backlog
(unaudited, $ in thousands)
AstroNova
		Q1 FY26				Q2 FY26				Q3 FY26				Q4 FY26				FY 2026				Q1 FY27				YTD FY2027
Backlog Beginning of Period (incl. MTEX)		$	28,307			$	25,491			$	25,291			$	21,989			$	28,307			$	25,530			$	25,530
Revenue Recognized (Billings)		$	37,708			$	36,102			$	39,169			$	37,536			$	150,515			$	39,364			$	39,364
New Bookings During Period		$	34,893			$	35,901			$	35,867			$	41,077			$	147,738			$	46,261			$	46,261
Backlog End of Period		$	25,491			$	25,291			$	21,989			$	25,530			$	25,530			$	32,426			$	32,426
Book/Bill %			93	%			99	%			92	%			109	%			96	%			118	%			118	%
Product Identification
		Q1 FY26				Q2 FY26				Q3 FY26				Q4 FY26				FY 2026				Q1 FY27				YTD FY2027
Backlog Beginning of Period (incl. MTEX)		$	18,091			$	18,044			$	16,727			$	12,351			$	18,091			$	13,482			$	13,482
Revenue Recognized (Billings)		$	26,289			$	24,754			$	26,849			$	26,329			$	104,221			$	26,089			$	26,089
New Bookings During Period		$	26,242			$	23,437			$	22,473			$	27,460			$	99,612			$	26,789			$	26,789
Backlog End of Period		$	18,044			$	16,727			$	12,351			$	13,484			$	13,482			$	14,182			$	14,182
Book/Bill %			100	%			95	%			84	%			104	%			95	%			103	%			103	%
Aerospace
		Q1 FY26				Q2 FY26				Q3 FY26				Q4 FY26				FY 2025				Q1 FY27				YTD FY2027
Backlog Beginning of Period		$	10,216			$	7,447			$	8,563			$	9,638			$	10,216			$	12,048			$	12,048
Revenue Recognized (Billings)		$	11,419			$	11,348			$	12,320			$	11,207			$	46,294			$	13,275			$	13,275
New Bookings During Period		$	8,651			$	12,464			$	13,394			$	13,617			$	48,126			$	19,471			$	19,471
Backlog End of Period		$	7,447			$	8,563			$	9,638			$	12,047			$	12,048			$	18,244			$	18,244
Book/Bill %			76	%			110	%			109	%			122	%			97	%			147	%			147	%

ASTRONOVA, INC.
Segment Sales and Profit – Historical Quarterly Summary (Recast)
(unaudited, $ in thousands)
			FY24				Q1		Q2		Q3		Q4		FY25				Q1		Q2		Q3		Q4		FY26				Q1 FY27
Aerospace		Revenue	$	44,045			9,776		13,374		14,105		11,683		$	48,938			11,419		11,348		12,320		11,206		$	46,294			13,275
		Gross profit	$	15,900			3,456		5,548		5,093		3,989		$	18,087			3,718		3,721		6,121		4,236		$	17,797			6,022
		Gross Profit Margin		36.1	%		35.4	%	41.5	%	36.1	%	34.1	%		37.0	%		32.6	%	32.8	%	49.7	%	37.8	%		38.4	%		45.4	%
		Operating Expenses:
		Selling & Marketing	$	3,433			904		899		913		822		$	3,537			481		911		1,095		772		$	3,260			903
		Research & Development	$	2,347			801		781		877		785		$	3,243			652		603		710		656		$	2,621			548
		General & Administrative	$	1,881			644		567		512		497		$	2,220			606		540		536		471		$	2,154			693
		Total Operating Expenses	$	7,661			2,348		2,246		2,301		2,104		$	9,000			1,739		2,055		2,341		1,899		$	8,034			2,144
		Aerospace Operating Income	$	8,240			1,108		3,302		2,792		1,885		$	9,087			1,979		1,666		3,780		2,338		$	9,763			3,878
		Aerospace Operating Margin		18.7	%		11.3	%	24.7	%	19.8	%	16.1	%		18.6	%		17.3	%	14.7	%	30.7	%	20.9	%		21.1	%		29.2	%
		Non-GAAP
		Aerospace Adjusted EBITDA1	$	10,239			1,519		3,719		3,193		2,279		$	10,710			2,566		2,081		3,911		3,104		$	11,662			3,769
		Adjusted EBITDA Margin1		23.2	%		15.5	%	27.8	%	22.6	%	19.5	%		21.9	%		22.5	%	18.3	%	31.7	%	27.7	%		25.2	%		28.4	%
			FY24				Q1		Q2		Q3		Q4		FY25				Q1		Q2		Q3		Q4		FY26				Q1 FY27
Product ID		Revenue	$	104,041			23,185		27,165		26,317		25,679		$	102,345			26,289		24,754		26,849		26,330		$	104,221			26,089
		Gross profit	$	33,604			8,002		8,315		8,015		8,236		$	32,570			8,233		7,194		7,323		7,088		$	29,838			8,403
		Gross Profit Margin		32.3	%		34.5	%	30.6	%	30.5	%	32.1	%		31.8	%		31.3	%	29.1	%	27.3	%	26.9	%		28.6	%		32.2	%
		Operating Expenses:
		Selling & Marketing	$	19,971			4,436		5,567		5,438		5,274		$	20,715			5,124		4,935		4,773		4,870		$	19,703			4,789
		Research & Development	$	3,994			670		507		795		832		$	2,804			877		961		1,188		1,141		$	4,167			1,261
		General & Administrative	$	4,314			1,447		2,363		1,896		15,206		$	20,911			1,971		1,490		1,667		1,310		$	6,439			1,787
		Total Operating Expenses	$	28,280			6,553		8,437		8,128		21,312		$	44,430			7,973		7,387		7,628		7,323		$	30,310			7,837
		Product ID Operating Income	$	5,325			1,449		(121	)	(112	)	(13,076	)	$	(11,860	)		260		(192	)	(304	)	(234	)	$	(471	)		566
		Product ID Operating Margin		5.1	%		6.2	%	-0.4	%	-0.4	%	-50.9	%		-11.6	%		1.0	%	-0.8	%	-1.1	%	-0.9	%		-0.5	%		2.2	%
		Non-GAAP
		Product ID Adjusted EBITDA1	$	11,156			2,046		1,619		1,269		1,615		$	6,550			1,903		870		1,371		1,095		$	5,239			2,112
		Adjusted EBITDA Margin1		10.7	%		8.8	%	6.0	%	4.8	%	6.3	%		6.4	%		7.2	%	3.5	%	5.1	%	4.2	%		5.0	%		8.1	%
		Corporate Expense	$	4,768			1,211		2,120		1,416		1,120		$	5,867			1,668		2,181		2,187		2,049		$	8,086			2,882
Consolidated		Consolidated Operating Income		8,796			1,346		1,061		1,264		(12,311	)		(8,640	)		571		(708	)	1,288		55			1,207			1,562
		Consolidated Operating Margin		5.9	%		4.1	%	2.6	%	3.1	%	-33.0	%		-5.7	%		1.5	%	-2.0	%	3.3	%	0.1	%		0.8	%		4.0	%
		Non-GAAP
		Adjusted EBITDA1	$	17,601			2,463		3,849		3,230		2,793		$	12,336			3,148		2,056		4,173		3,306		$	12,681			4,122
		Adjusted EBITDA Margin1		11.9	%		7.5	%	9.5	%	8.0	%	7.5	%		8.2	%		8.3	%	5.7	%	10.7	%	8.8	%		8.4	%		10.5	%
1Adjusted EBITDA and Adjusted EBITDA margin are non-GAAP metrics. Please refer to the reconciliation of GAAP to non-GAAP metrics in the tables that accompany this news release.

ASTRONOVA, INC.
Reconciliation of GAAP to Non-GAAP Items
(Unaudited, $ in thousands)
		Three Months Ended
		April 30, 2026				April 30, 2025
Revenue		$	39,364			$	37,708
Gross Profit		$	14,425			$	11,951
Inventory Step-Up			-				61
Inventory Provision			(263	)			-
Restructuring Charges			360				340
Non-Recurring Legal, Professional & Other Expenses			29				-
Non-GAAP Gross Profit		$	14,552			$	12,352
Gross Profit Margin			36.6	%			31.7	%
Non-GAAP Gross Profit Margin			36.9	%			32.8	%
Operating Expenses		$	12,863			$	11,382
MTEX-related Acquisition Expenses			-				(337	)
Bonus			(165	)			-
Restructuring Charges			(2	)			(219	)
Non-Recurring Legal, Professional & Other Expenses			(734	)			-
Non-GAAP Operating Expenses		$	11,962			$	10,826
Operating Income		$	1,562			$	571
MTEX-related Acquisition Expenses			-				337
Inventory Step-Up			-				61
Inventory Provision			(263	)			-
Bonus			165				-
Restructuring Charges			362				558
Non-Recurring Legal, Professional & Other Expenses			763				-
Non-GAAP Operating Income		$	2,589			$	1,527
Operating Income Margin			4.0	%			1.5	%
Non-GAAP Operating Income Margin			6.6	%			4.0	%
Net Income (Loss)		$	653			$	(376	)
MTEX-related Acquisition Expenses(1)			-				257
Inventory Step-Up(1)			-				49
Inventory Provision(1)			(192	)			-
Bonus(1)			125				-
Restructuring Charges(1)			276				424
Non-Recurring Legal, Professional, and Other Expenses(1)			581				-
Non-GAAP Net Income		$	1,443			$	354
Diluted Earnings (Loss) Per Share		$	0.08			$	(0.05	)
MTEX-related Acquisition Expenses(1)			-				0.03
Inventory Step-Up(1)			-				0.01
Inventory Provision(1)			(0.02	)			-
Bonus(1)			0.02				-
Restructuring Charges(1)			0.04				0.06
Non-Recurring Legal, Professional and Other Expenses(1)			0.07				-
Non-GAAP Diluted Earnings Per Share		$	0.19			$	0.05
(1) Net of taxes

ASTRONOVA INC.
Reconciliation of Net Income and Margin to Adjusted EBITDA and Margin
(Unaudited, $ in thousands)
	Three Months Ended
	April 30, 2026			April 30, 2025
Net Income (Loss)	$	653		$	(376	)
Interest Expense		675			897
Income Tax Expense		196			75
Depreciation & Amortization		1,182			1,290
EBITDA	$	2,706		$	1,886
Share-Based Compensation		389			306
Bonus		165			-
MTEX-related Acquisition Expenses		-			337
Inventory Step-Up		-			61
Inventory Provision		(263	)		-
Restructuring Charges		362			558
Non-Recurring Legal Expenses		763			-
Adjusted EBITDA	$	4,122		$	3,148
Revenue	$	39,364		$	37,708
Net Income (Loss) Margin		1.7	%		(1.0	)%
Adjusted EBITDA Margin		10.5	%		8.3	%

ASTRONOVA INC.
Reconciliation of Segment Gross Profit and Margin to Non-GAAP Gross Profit and Margin
(Unaudited, $ in thousands)
	Three Months Ended
	April 30, 2026												April 30, 2025
	Product ID				Aerospace				Total				Product ID			Aerospace			Total
Segment Gross Profit	$	8,403			$	6,022			$	14,425			$	8,233		$	3,718		$	11,951
Inventory Step-Up		-				-				-				61			-			61
Inventory Provision		232				(495	)			(263	)			-			-			-
Restructuring Charges		360				-				360				171			169			340
Non-Recurring Legal, Professional & Other Expenses		29				-				29				-			-			-
Non-GAAP - Segment Gross Profit	$	9,023			$	5,527			$	14,551			$	8,465		$	3,887		$	12,352
Revenue	$	26,089			$	13,275			$	39,364			$	26,289		$	11,419		$	37,708
Gross Profit Margin		32.2	%			45.4	%			36.6	%			31.3	%		32.6	%		31.7	%
Non-GAAP Segment Gross Profit Margin		34.6	%			41.6	%			36.9	%			32.2	%		34.0	%		32.8	%

ASTRONOVA INC.
Reconciliation of Segment Operating Profit and Margin to Non-GAAP Operating Profit and Margin
(Unaudited, $ in thousands)
	Three Months Ended
	April 30, 2026												April 30, 2025
	Product ID				Aerospace				Total				Product ID			Aerospace			Total
Segment Operating Income	$	566			$	3,878			$	4,444			$	260		$	1,979		$	2,239
Inventory Step-Up		-				-				-				61			-			61
Inventory Provision		232				(495	)			(263	)			-			-			-
Bonus		60				10				70				-			-			-
Restructuring Charges		362				-				362				339			171			510
MTEX-related Acquisition Expenses		-				-				-				336			-			336
Non-Recurring Legal, Professional & Other Expenses		43				-				43				-			-			-
Non-GAAP - Segment Operating Income	$	1,263			$	3,393			$	4,656			$	995		$	2,150		$	3,145
Revenue	$	26,089			$	13,275			$	39,364			$	26,289		$	11,419		$	37,708
Operating Margin		2.2	%			29.2	%			11.3	%			1.0	%		17.3	%		5.9	%
Non-GAAP Operating Margin		4.8	%			25.6	%			11.8	%			3.8	%		18.8	%		8.3	%

ASTRONOVA INC.
Reconciliation of Segment and Consolidated Net Income to Adjusted EBITDA (Past Quarters and Years)
(Unaudited, $ in thousands)
				2024			Q1 25			Q2 25			Q3 25			Q4 25			FY25				Q1 26			Q2 26			Q3 26			Q4 26			FY26				Q1 27
Aerospace		Operating Income	$	8,240			$	1,108		$	3,302		$	2,792		$	1,886		$	9,088			$	1,980		$	1,666		$	3,780		$	2,338		$	9,763			$	3,878
		Other		-				-			-			-			-			-				-			-			-			-			-				-
		Interest expense		-				-			-			-			-			-				-			-			-			-			-				15
		Profit Before Tax	$	8,240				1,108			3,302			2,792			1,886		$	9,088				1,980			1,666			3,780			2,338		$	9,763			$	3,863
		Tax		-				-			-			-			-			-				-			-			-			-			-				-
		Net Income	$	8,240				1,108			3,302			2,792			1,886		$	9,088				1,980			1,666			3,780			2,338		$	9,763			$	3,863
		Interest expense		-				-			-			-			-			-				-			-			-			-			-				15
		Tax		-				-			-			-			-			-				-			-			-			-			-				-
		Depreciation & Amortization		1,873				374			378			365			365			1,482				373			368			363			360			1,464				332
		Share-Based Compensation		126				37			39			36			29			140				43			46			80			94			263				44
		Bonus									-			-			-			-				-			-			-			-			-				10
		Inventory Provision		-				-			-			-			-			-				-			-			(311	)		311			-				(495	)
		Restructuring Charges		-				-			-			-			-			-				170			1			-			-			171				-
		Adjusted EBITDA	$	10,239			$	1,519		$	3,719		$	3,193		$	2,279		$	10,710			$	2,566		$	2,081		$	3,911		$	3,104		$	11,662			$	3,769
		Revenue	$	44,045			$	9,776		$	13,374		$	14,105		$	11,683		$	48,938			$	11,419		$	11,348		$	12,320		$	11,206		$	46,294			$	13,275
		Adjusted EBITDA Margin		23.2	%			15.5	%		27.8	%		22.6	%		19.5	%		21.9	%			22.5	%		18.3	%		31.7	%		27.7	%		25.2	%			28.4	%
				2024			Q1 25			Q2 25			Q3 25			Q4 25			FY25				Q1 26			Q2 26			Q3 26			Q4 26			FY26				Q1 27
Product ID		Operating Income	$	5,325			$	1,449		$	(121	)	$	(113	)	$	(13,075	)	$	(11,860	)		$	260		$	(192	)	$	(304	)	$	(234	)	$	(470	)		$	566
		Other		-				-			-			-			-			-				-			-			-			-			-				20
		Interest expense		-				-			-			-			-			-				-			-			-			-			-				24
		Profit Before Tax	$	5,325				1,449			(121	)		(113	)		(13,075	)	$	(11,860	)			260			(192	)		(304	)		(234	)	$	(470	)		$	522
		Tax		-				-			-			-			-			-				-			-			-			-			-				364
		Net Income	$	5,325				1,449			(121	)		(113	)		(13,075	)	$	(11,860	)			260			(192	)		(304	)		(234	)	$	(470	)		$	158
		Interest expense		-				-			-			-			-			-				-			-			-			-			-				24
		Tax		-				-			-			-			-			-				-			-			-			-			-				364
		Depreciation & Amortization		2,378				532			921			929			896			3,279				913			909			489			1,013			3,322				844
		Share-Based Compensation		317				64			74			94			75			308				(7	)		86			88			207			373				26
		Bonus		-				-			-			-			-			-				-			-			-			-			-				60
		MTEX-related Acquisition Expenses		-				-			625			325			254			1,204				337			(26	)		-			-			311				-
		Inventory Step-Up		-				-			120			34			62			216				61			-			-			-			61				-
		Inventory Provision		-				-			-			-			-			-				-			-			670			54			724				232
		Restructuring Charges		2,494				-			-			-			-			-				339			94			(2	)		52			483				362
		Product Retrofit Costs		642				-			-			-			-			-				-			-			-			185			185				-
		Non-Recurring Legal Expenses		-				-			-			-			-			-				-			-			134			(182	)		(48	)			43
		Goodwill Impairment		-				-			-			-			13,403			13,403				-			-			297			-			297				-
		Adjusted EBITDA	$	11,156			$	2,046		$	1,619		$	1,269		$	1,615		$	6,550			$	1,903		$	870		$	1,371		$	1,095		$	5,239			$	2,112
		Revenue	$	104,041			$	23,185		$	27,165		$	26,317		$	25,679		$	102,345			$	26,289		$	24,754		$	26,849		$	26,330		$	104,221			$	26,089
		Adjusted EBITDA Margin		10.7	%			8.8	%		6.0	%		4.8	%		6.3	%		6.4	%			7.2	%		3.5	%		5.1	%		4.2	%		5.0	%			8.1	%
				2024			Q1 25			Q2 25			Q3 25			Q4 25			FY25				Q1 26			Q2 26			Q3 26			Q4 26			FY26				Q1 27
Corporate		Operating Income	$	(4,768	)		$	(1,211	)	$	(2,120	)	$	(1,416	)	$	(1,122	)	$	(5,869	)		$	(1,668	)	$	(2,181	)	$	(2,187	)	$	(2,050	)	$	(8,087	)		$	(2,882	)
		Other		26				118			173			46			100			437				(24	)		104			210			(51	)		239				18
		Interest expense		2,697				482			938			944			847			3,210				897			885			827			894			3,503				635
		Profit Before Tax	$	(7,491	)			(1,811	)		(3,231	)		(2,406	)		(2,069	)	$	(9,516	)			(2,541	)		(3,170	)		(3,224	)		(2,893	)	$	(11,829	)		$	(3,536	)
		Tax		1,379				(434	)		261			34			2,342			2,203				75			(454	)		(128	)		346			(161	)			(168	)
		Net Income	$	(8,870	)			(1,377	)		(3,492	)		(2,440	)		(4,411	)	$	(11,719	)			(2,616	)		(2,716	)		(3,096	)		(3,239	)	$	(11,668	)		$	(3,368	)
		Interest expense		2,697				482			938			944			847			3,210				897			885			827			894			3,503				635
		Tax		1,379				(434	)		261			36			2,342			2,205				75			(454	)		(128	)		346			(161	)			(168	)
		Depreciation & Amortization		15				4			4			6			4			19				4			4			5			5			18				6
		EBITDA	$	(4,779	)			(1,324	)		(2,289	)		(1,454	)		(1,218	)	$	(6,285	)			(1,640	)		(2,282	)		(2,392	)		(1,994	)	$	(8,308	)		$	(2,894	)
		Share-Based Compensation		903				223			368			222			116			929				270			367			586			449			1,673				318
		Bonus		-				-			-			-			-			-				-			-			-			-			-				95
		CFO Transition Costs		-				-			432			-			-			432				-			-			-			-			-				-
		Restructuring Charges		82				-			-			-			-			-				49			595			60			-			703				0
		Non-Recurring Legal Expenses		-				-			-			-			-			-				-			69			254			440			763				720
		Non-Recurring Proxy Costs		-				-			-			-			-			-				-			355			172			210			738				-
		Realized Fx		-				-			-			-			-			-				-			-			100			-			100				-
		Other (Income) and Expense		-				-			-			-			-			-				-			-			112			-			112				-
		Adjusted EBITDA	$	(3,794	)		$	(1,101	)	$	(1,489	)	$	(1,232	)	$	(1,102	)	$	(4,924	)		$	(1,321	)	$	(896	)	$	(1,108	)	$	(895	)	$	(4,220	)		$	(1,760	)
				2024			Q1 25			Q2 25			Q3 25			Q4 25			FY25				Q1 26			Q2 26			Q3 26			Q4 26			FY26				Q1 27
AstroNova Consolidated		Operating Income	$	8,796			$	1,346		$	1,061		$	1,263		$	(12,311	)	$	(8,641	)		$	572		$	(708	)	$	1,288		$	55		$	1,208			$	1,562
		Other		26				118			173			46			100			437				(24	)		104			210			(51	)		239				38
		Interest expense		2,697				482			938			944			847			3,210				897			885			827			894			3,503				675
		Profit Before Tax	$	6,073				746			(50	)		273			(13,258	)	$	(12,288	)			(301	)		(1,697	)		251			(789	)	$	(2,535	)		$	849
		Tax		1,379				(434	)		261			34			2,342			2,202				75			(454	)		(128	)		346			(161	)			196
		Net Income	$	4,694				1,180			(311	)		239			(15,600	)	$	(14,490	)			(376	)		(1,243	)		379			(1,134	)	$	(2,373	)		$	653
		Interest expense		2,697				482			938			944			847			3,210				897			885			827			894			3,503				675
		Tax		1,379				(434	)		261			36			2,342			2,202				75			(454	)		(128	)		346			(161	)			196
		Depreciation & Amortization		4,266				911			1,304			1,300			1,266			4,780				1,290			1,280			856			1,379			4,805				1,182
		EBITDA	$	13,036				2,139			2,191			2,519			(11,146	)	$	(4,297	)			1,886			469			1,934			1,485		$	5,774			$	2,706
		Share-Based Compensation		1,347				325			481			352			219			1,378				306			499			754			751			2,310				389
		Bonus		-				-			-			-			-			-				-			-			-			-			-				165
		MTEX-related Acquisition Expenses		-				-			625			325			254			1,204				337			(26	)		-			-			311				-
		CFO Transition Costs		-				-			432			-			-			432				-			-			-			-			-				-
		Inventory Step-Up		-				-			120			34			62			216				61			-			-			-			61				-
		Inventory Provision		-				-			-			-			-			-				-			-			359			365			724				(264	)
		Restructuring Charges		2,576				-			-			-			-			-				558			689			59			52			1,357				362
		Product Retrofit Costs		642				-			-			-			-			-				-			-			-			185			185				-
		Non-Recurring Legal Expenses		-				-			-			-			-			-				-			69			387			258			715				763
		Non-Recurring Proxy Costs		-				-			-			-			-			-				-			355			172			210			738				-
		Realized Fx		-				-			-			-			-			-				-			-			100			-			100				-
		Other (Income) and Expense		-				-			-			-			-			-				-			-			112			-			112				-
		Goodwill Impairment		-				-			-			-			13,403			13,403				-			-			297			-			297				-
		Adjusted EBITDA	$	17,601			$	2,463		$	3,849		$	3,230		$	2,793		$	12,336			$	3,149		$	2,056		$	4,175		$	3,306		$	12,682			$	4,121
		Revenue	$	148,086			$	32,961		$	40,539		$	40,422		$	37,361		$	151,283			$	37,708		$	36,102		$	39,169		$	37,536		$	150,515			$	39,364
		Adjusted EBITDA Margin		11.9	%			7.5	%		9.5	%		8.0	%		7.5	%		8.2	%			8.4	%		5.7	%		10.7	%		8.8	%		8.4	%			10.5	%

 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260608234583/en/

Deborah Pawlowski, IRC, Alliance Advisors
Email: dpawlowski@allianceadvisors.com
Phone: 716.843.3908

Source: AstroNova, Inc.