DAKTRONICS INC /SD/

Listed Company

DAKTCIK 0000915779NasdaqAcceleratedMiscellaneous Manufacturing IndustriesDelawareFY ends May 2

Period

FY 2025

Revenue

$756.48M

Net Income

$-10.12M

Total Assets

$502.89M

Equity

$271.93M

Shares Out

48.30M

Op. Cash Flow

$97.71M

Business

DAKTRONICS INC /SD/ designs, manufactures, installs, and services electronic scoreboards and programmable visual display systems for sporting, commercial, transportation, and other applications. It offers LED video displays, scoreboards and timing systems, LED message signs, ITS dynamic message signs, mass transit displays, sound systems, digital billboards and street furniture, digit and price displays, indoor dynamic messaging systems, and software/controllers including VCS and Show Control Suite. The company operates five business segments—Commercial, Live Events, High School Park and Recreation, Transportation, and International. Its products are sold through direct sales, resellers, AV integrators, and global distribution channels to venues, advertisers, transit agencies, government, and commercial customers.

Summary from filing dated 2025-06-25

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Net sales	756	818	754	611	482
Cost of sales	561	596	603	494	361
Gross profit	195	222	151	117	121
Selling	60	57	57	51	49
General and administrative	63	43	39	33	28
Product design and development	39	36	30	29	27
Goodwill impairment	0	0	5	0	0
Operating expenses	162	135	130	113	103
Operating income	33	87	21	4	17
Interest income (expense), net	1	−3	−920,000	171,000	−65,000
Change in fair value of convertible note	−23	−17	0	0	—
Other expense and debt issuance costs write-off, net	−18	−13	−7	−3	−3
(Loss) income before income taxes	−6	54	13	1	14
Income tax expense	4	19	6	516,000	3
Net (loss) income	−10	35	7	592,000	11
Basic (in shares)	48	46	45	45	45
Diluted (in shares)	48	47	46	45	45
Basic (in usd per share)	−0.21	0.75	0.15	0.01	0.24
Diluted (in usd per share)	−0.21	0.74	0.15	0.01	0.24

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Cash and cash equivalents	128	81	24	17	78
Restricted cash	0	379,000	708,000	865,000	3
Accounts receivable, net	93	117	110	101	68
Inventories	106	138	149	134	74
Contract assets	41	56	47	42	33
Current maturities of long-term receivables	2	298,000	1	3	1
Prepaid expenses and other current assets	9	9	10	15	7
Income tax receivables	3	448,000	326,000	603,000	731,000
Total current assets	381	402	343	318	265
Property and equipment, net	74	72	72	67	59
Long-term receivables, less current maturities	1	562,000	264,000	1	2
Goodwill	3	3	3	8	8
Intangibles, net	568,000	840,000	1	1	2
Debt issuance costs, net	1	3	4	—	—
Right of use, investment in affiliates, and other assets	9	21	28	32	27
Deferred income taxes	32	26	17	13	12
TOTAL ASSETS	503	528	468	441	375
Current portion of long-term debt	2	2	0	—	—
Accounts payable	47	61	68	76	40
Contract liabilities	69	66	92	90	64
Accrued expenses	42	43	36	35	31
Warranty obligations	13	17	12	12	10
Income taxes payable	375,000	5	3	408,000	738,000
Total current liabilities	172	192	210	214	147
Long-term warranty obligations	23	21	20	17	15
Long-term contract liabilities	18	16	13	11	11
Other long-term obligations	7	6	6	7	8
Long-term debt, net	10	53	18	0	—
Deferred income taxes	85,000	143,000	195,000	287,000	410,000
Total long-term liabilities	59	97	57	36	35
Preferred Stock, Par or Stated Value Per Share	0	0	—	—	—
Preferred Shares, $0.00001 par value, authorized 5,000 shares; no shares issued and outstanding	0	0	0	0	0
Common stock, $0.00001 par value, authorized 115,000 shares; 53,030 and 48,121 shares issued as of April 26, 2025 and April 27, 2024, respectively	0	0	63	62	61
Additional paid-in capital	190	118	50	48	47
Retained earnings	128	138	103	97	96
Treasury stock, at cost, 3,979 and 1,907 shares as of April 26, 2025 and April 27, 2024, respectively	−40	−10	−10	−10	−7
Accumulated other comprehensive loss	−6	−7	−6	−5	−2
TOTAL STOCKHOLDERS EQUITY	272	239	201	192	194
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	503	528	468	441	375

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-04-30	FY 2024 2024-04-30	FY 2023 2023-04-30	FY 2022 2022-04-30	FY 2021 2021-04-30
Depreciation and amortization	20	19	17	15	17
(Gain) loss on sale of property, equipment and other assets	−156,000	44,000	−691,000	−743,000	−572,000
Share-based compensation	3	2	2	2	2
Equity in loss of affiliates	3	4	3	3	2
Financing receivable, credit loss, expense (reversal)	15	0	0	—	—
(Recovery) provision for doubtful accounts, net	−644,000	373,000	1	−286,000	1
Deferred income taxes, net	−6	−9	−4	−2	1
Non-cash impairment charges	0	6	9	0	0
Debt issuance costs write-off	0	3	0	0	—
Change in operating assets and liabilities	51	−14	−20	−45	32
Net cash provided by operating activities	98	63	15	−27	66
Purchases of property and equipment	−19	−17	−25	−20	−8
Proceeds from sales of property, equipment and other assets	277,000	174,000	822,000	885,000	3
Proceeds from sales or maturities of marketable securities	0	550,000	3	0	1
Purchases of equity and loans to equity investees	−5	−5	−4	−8	−7
Net cash used in investing activities	−24	−21	−25	−31	−10
Borrowings on notes payable	0	41	379	47	0
Payments on notes payable	−2	−19	−361	−47	−15
Debt issuance costs	0	−7	−991,000	0	0
Borrowings on long-term obligations	0	0	1	0	0
Principal payments on long-term obligations	−414,000	−410,000	−305,000	−200,000	−460,000
Payments for common shares repurchased	−29	0	0	−3	0
Proceeds from exercise of stock options	5	1	21,000	8,000	0
Tax payments related to RSU issuances	−606,000	−303,000	−140,000	−200,000	−125,000
Net cash (used in) provided by financing activities	−27	15	18	−4	−16
EFFECT OF EXCHANGE RATE CHANGES ON CASH	−653,000	−69,000	−522,000	−399,000	−416,000
NET INCREASE IN CASH, CASH EQUIVALENTS AND RESTRICTED CASH	46	57	7	−62	40

Filings

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