AstroNova Reports Fourth-Quarter and Full-Year Fiscal 2026 Financial Results

AstroNova Reports Fourth-Quarter and Full-Year Fiscal 2026 Financial Results 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 2026 fourth quarter and full-year ended January 31, 2026.

Jorik Ittmann, President and Chief Executive Officer of AstroNova, stated, "The second half of fiscal 2026 was a reset period for AstroNova. As we began the year, we recognized that the changes we were making in the business would begin to be realized with a stronger second half. Our focus was on stabilizing the business and ending the year having generated more cash, reduced debt, and raised accountability across both segments. Our Aerospace business delivered a strong performance, with ToughWriter now representing more than 80% of total flight deck printer shipments, positioning us well as aircraft build rates increase.

“In Product ID, we provide label printing solutions that address the needs of three key verticals: healthcare/life sciences, industrial and chemical industries. In these markets our labels are a component of customers’ products and are critical to their success. Our restructuring efforts are being realized through improving commercial momentum in these verticals. We have employed more robust analytics to understand our customers and markets and are better directing our resources to drive growth. This includes continuing to evolve the team, putting the right talent in the correct roles, and recognizing where and why we can win. We expect this focus of our resources where we have competitive advantages will lead to stronger, more profitable growth."

Mr. Ittmann added, "Looking ahead to fiscal 2027, we expect Aerospace to deliver measured growth, supported by rising aircraft production, a favorable product mix, and the expiration of a major royalty obligation during the third quarter of the year that negatively impacts gross margin on an annualized basis by approximately $2 million. In Product ID, we are focused on converting our commercial pipeline into consistent revenue growth while strengthening operational performance. We believe we can create greater value for our shareholders with our enhanced product offerings, go-to-market strategy and operational restructuring. Importantly, we will evaluate all strategic alternatives to achieve this goal."

Fourth Quarter Fiscal 2026 Overview 1 (comparisons are to the prior-year period unless noted otherwise)

37,536

37,361

175

0.5%

76,705

73,810

2,895

3.9%

11,325

12,226

(901)

(7.4)%

24,769

22,865

1,902

8.3%

30.2%

32.7%

32.3%

31.0%

11,903

12,289

(386)

(3.1)%

25,707

23,264

2,444

10.5%

31.7%

32.9%

33.5%

31.5%

(12,311)

12,367

(100.5)%

1,342

(137)

1,479

N/A

0.1%

(33.0)%

1.7%

(0.2)%

1,124

1,408

(284)

(20.2)%

3,688

1,906

1,781

93.4%

3.0%

3.8%

4.8%

2.6%

(1,134)

(15,600)

14,466

(92.7)%

(756)

(1,620)

864

53.3%

(305)

419

(724)

(172.7)%

1,277

(59)

1,336

N/A

3,306

2,794

512

18.3%

7,478

5,202

2,276

43.7%

8.8%

7.5%

9.7%

7.0%

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 $0.2 million as growth in Product ID slightly exceeded lower Aerospace revenue. Tariff mitigation contributed $0.6 million in revenue and foreign currency translation was a $0.8 million benefit in the quarter.

As a result of lower volume and mix, gross profit decreased $0.9 million, or 7.4%, and gross margin contracted 250 basis points compared with the prior-year period. On an adjusted basis, gross margin contracted 120 basis points from the prior-year period to 32.9%.

Operating expenses in the quarter were $11.3 million down from $25.0 million in the prior-year period. The prior year period included a goodwill impairment charge of $13.4 million. Operating income for the quarter was $56 thousand compared with operating loss of $12.3 million in the prior-year period, while non-GAAP operating income was $1.1 million, down $0.3 million compared with the prior-year period.

Interest expense of $0.9 million was nominally unchanged from the prior-year period. Net loss of $1.1 million, or $0.15 per share, compared with net loss of $15.6 million in the prior-year period, which included a goodwill impairment charge of $13.4 million. Non-GAAP net loss was $0.3 million, or $0.04 per share. Adjusted EBITDA was $3.3 million and Adjusted EBITDA margin was 8.8%.

Beginning in the fourth quarter of fiscal 2026, the Company revised its segment reporting methodology to allocate related general and administrative expenses directly to the reportable segments, Product Identification and Aerospace. Management believes this change better reflects the true operating performance of each segment. Prior period segment results have been recast to reflect this change. The impact of this reallocation on segment operating income is presented in the segment tables that follow.

Product Identification (Product ID) Segment Review

Product ID revenue was $26.3 million for the fourth quarter of fiscal 2026, up 2.5%, or $0.7 million, compared with the prior year. Aftermarket revenue remained strong, representing approximately 80% of total segment sales.

Product ID segment operating loss was $0.2 million, an improvement from the segment operating loss of $13.1 million in the prior-year period which included the previously mentioned goodwill impairment charge. Non-GAAP segment operating loss was $0.1 million, or -0.5% of revenue.

Aerospace Segment Review

Aerospace segment revenue was $11.2 million in the fiscal 2026 fourth quarter, a decrease of 4.1%, or $0.5 million from the prior-year, primarily as a result of the timing of projects.

Despite lower sales, Aerospace segment operating profit was $2.3 million, up $0.5 million, or 24.0%, over the prior-year period as a result of improved mix.

Balance Sheet and Cash Flow

Cash from operations in the fourth quarter of fiscal 2026 was $3.7 million and was $11.7 million year to date. The improvement in cash generation in the quarter was primarily the result of reduced working capital requirements, primarily due to lower inventory.

Capital expenditures in the quarter were $139 thousand and $332 thousand for fiscal 2026 compared with $79 thousand and $1.2 million, respectively, in the prior year.

Cash at the end of the fourth quarter of fiscal 2026 was $4.1 million, down $0.9 million from the end of fiscal 2025. Debt as of January 31, 2026 was $37.6 million compared with $46.7 million as of January 31, 2025.

Bookings and Backlog by Segment

Orders in the quarter for the Product ID segment were $27.5 million, up $2.9 million compared with the prior-year period as the Company’s new go-to-market strategy gained traction. The book-to-bill ratio for the segment was 104% and backlog at the end of fiscal 2026 was $13.5 million.

Orders in the quarter for the Aerospace segment were $13.6 million for a book-to-bill ratio of 122% reflecting demand from OEMs for new-build aircraft. Backlog at the end of fiscal 2026 was $12.0 million.

Fiscal 2027 Outlook

“We are making solid progress with the improvement in our Product ID segment and are delivering on the potential of the Aerospace segment. As noted previously, a major royalty obligation for Aerospace will expire in the third quarter this year that will provide an annualized contribution to gross profit of approximately $2 million beginning in the fourth quarter. We are encouraged with our progress and believe we are creating greater opportunity for the business,” concluded Mr. Ittmann.

For fiscal 2027, AstroNova expects mid-single digit revenue growth and expanded adjusted EBITDA margin.

Earnings Conference Call Information

AstroNova will host a conference call and webcast at 8:30 a.m. ET on Tuesday, April 14, 2026, to review financial and operating results for the fourth quarter and full year 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 Tuesday, April 28, 2026. To listen to the archived call, dial (412) 317-6671 and enter a replay PIN 13759000. 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 January 31, 2026 and 2025 as well as the years ended January 31, 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, 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.

(In thousands, except per share data)

(Unaudited)

37,536

37,361

175

0.5

26,211

25,135

1,076

4.3

11,325

12,226

(901

)

(7.4

30.2

32.7

5,642

6,097

(455

)

(7.5

1,797

1,617

180

11.1

3,830

3,420

410

12.0

—

13,403

(13,403

)

(100.0

11,269

24,537

(13,268

)

(54.1

(12,311

)

12,367

(100.5

0.1

(33.0

894

847

5.5

(51

)

100

(151

)

(151.0

(788

)

(13,258

)

12,470

(94.1

346

2,342

(1,996

)

(85.2

(1,134

)

(15,600

)

14,466

(92.7

(0.15

)

(2.07

)

(0.15

)

(2.07

)

7,653

7,534

7,653

7,534

150,515

151,283

(768

)

(0.5

102,881

100,625

2,256

2.2

47,634

50,658

(3,024

)

(6.0

31.6

33.5

22,963

24,252

(1,289

)

(5.3

6,788

6,047

741

12.3

16,380

15,596

784

5.0

297

13,403

(13,106

)

(97.8

46,428

59,298

(12,870

)

(21.7

1,206

(8,640

)

9,846

(114.0

0.8

(5.7

3,503

3,210

293

9.1

239

437

(198

)

(45.3

(2,536

)

(12,287

)

9,751

(79.4

(160

)

2,202

(2,362

)

(107.3

(2,376

)

(14,489

)

12,113

(83.6

(0.31

)

(1.93

)

(0.31

)

(1.93

)

7,614

7,509

7,614

7,509

ASTRONOVA, INC.

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

4,072

5,050

18,985

21,218

43,252

47,894

4,395

3,855

70,704

78,017

40,400

58,613

(26,272

)

(42,820

)

14,128

15,793

21,496

23,519

17,376

16,361

9,831

8,431

2,466

1,781

1,565

1,693

137,566

145,595

6,806

7,928

4,390

3,745

4,702

4,461

16,273

20,929

3,033

6,110

581

1,656

1,358

331

691

489

543

38,371

46,346

18,295

19,044

1,953

1,535

899

1,090

145

1,106

800

684

241

60,704

69,845

554

547

66,329

64,215

47,004

49,380

(35,227

)

(35,043

)

(1,798

)

(3,349

)

76,862

75,750

137,566

145,595

ASTRONOVA, INC.

Condensed Consolidated Statements of Cash Flow – Three Months

(In thousands)

(Unaudited)

(1,134

)

(15,599

)

1,379

1,266

155

13,403

751

219

(1,238

)

874

1,566

1,240

2,129

236

1,764

630

(758

)

(519

)

(440

)

(434

)

645

3,673

2,525

(139

)

(79

)

(126

)

(79

)

(18

)

(1,981

)

734

(279

)

(655

)

(864

)

(2,274

)

(3,125

)

(2,163

)

336

466

618

3,606

4,432

4,072

5,050

751

810

707

ASTRONOVA, INC.

Condensed Consolidated Statements of Cash Flow – Twelve Months

(In thousands)

(Unaudited)

(2,376

)

(14,489

)

4,804

4,780

330

159

297

13,403

2,310

1,378

(1,312

)

874

115

2,786

2,859

5,909

1,616

663

(904

)

(1,125

)

(2,379

)

(420

)

(1,520

)

(286

)

(959

)

11,738

4,848

113

(332

)

(1,165

)

(19,109

)

(219

)

(20,274

)

146

(184

)

(450

)

(5,158

)

11,508

19,720

15,078

(1,238

)

(1,902

)

(25,982

)

(8,980

)

(66

)

(34

)

(12,857

)

15,378

360

571

(978

)

523

5,050

4,527

4,072

5,050

3,043

2,701

634

2,210

1,075

1,581

26,330

25,678

104,221

102,345

11,206

11,683

46,294

48,938

37,536

37,361

150,515

151,283

7,088

8,237

29,837

32,571

4,237

3,989

17,797

18,087

11,325

12,226

47,634

50,658

26.9

32.1

28.6

31.8

37.8

34.1

38.4

37.0

30.2

32.7

31.6

33.5

(234

)

(13,076

)

(472

)

(11,860

)

2,337

1,885

9,763

9,087

2,103

(11,191

)

9,291

(2,773

)

-0.9

-50.9

-0.5

-11.6

20.9

16.1

21.1

18.6

5.6

-30.0

6.2

-1.8

(2,049

)

(1,120

)

(8,085

)

(5,867

)

(12,311

)

1,206

(8,640

)

894

847

3,503

3,210

(51

)

100

239

437

(788

)

(13,259

)

(2,536

)

(12,287

)

346

2,342

(160

)

2,202

(1,134

)

(15,600

)

(2,376

)

(14,489

)

26,330

25,678

104,221

102,345

11,206

11,683

46,294

48,938

37,536

37,361

150,515

151,283

7,356

8,296

31,010

32,770

4,547

3,989

17,961

18,087

11,903

12,285

48,971

50,857

27.9

32.3

29.8

32.0

40.6

34.1

38.8

37.0

31.7

32.9

32.5

33.6

(124

)

647

1,542

2,966

2,648

1,886

9,934

9,088

2,524

2,533

11,476

12,054

-0.5

2.5

1.5

2.9

23.6

16.1

21.5

18.6

6.7

6.8

7.6

8.0

(1,400

)

(1,123

)

(5,882

)

(5,437

)

1,124

1,409

5,594

6,617

894

847

3,503

3,210

(51

)

100

437

281

462

2,063

2,970

586

845

284

(305

)

419

1,218

2,686

(unaudited, $ in thousands)

14,220

16,349

15,408

14,019

59,996

15,478

15,190

16,115

15,041

61,824

3,930

3,471

3,679

4,494

15,574

4,050

3,740

4,280

4,138

16,208

3,245

4,231

3,423

2,972

13,871

3,247

3,506

3,636

3,863

14,252

1,787

2,925

3,627

2,718

11,057

3,396

2,230

2,371

2,579

10,576

1,289

1,304

216

189

165

186

543

368

670

1,145

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

3,813

6,299

5,221

4,363

19,696

4,953

4,714

5,764

5,030

20,461

4,694

5,326

7,058

5,481

22,559

4,911

4,953

4,955

4,831

19,650

329

608

734

781

2,452

811

1,047

766

885

3,509

697

604

993

802

3,096

396

431

634

195

1,656

243

537

256

1,135

348

203

201

266

1,018

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

3,802

4,311

4,590

5,591

18,294

4,776

4,511

5,357

5,332

19,976

19,383

22,854

21,727

20,087

84,051

21,513

20,243

21,492

20,997

84,245

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

5,073

8,048

7,032

6,185

26,338

6,519

6,425

7,360

6,369

26,673

4,703

5,326

7,073

5,498

22,600

4,900

4,923

4,960

4,838

19,621

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

8,875

12,359

11,622

11,776

44,632

11,295

10,936

12,717

11,701

46,649

24,086

28,180

28,800

25,585

106,651

26,413

25,166

26,452

25,835

103,866

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2026

31,394

31,556

29,900

27,093

31,394

28,307

25,491

25,291

21,989

28,307

3,084

31,394

34,640

29,900

27,093

34,478

28,307

25,491

25,291

21,989

28,307

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

33,122

35,799

37,615

38,576

145,112

34,893

35,901

35,867

41,077

147,738

31,556

29,900

27,093

28,307

25,491

25,291

21,989

25,530

100

103

109

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2026

19,725

19,467

18,786

19,254

19,725

18,091

18,044

16,727

12,351

18,091

3,084

19,725

22,551

18,786

19,254

22,809

18,091

18,044

16,727

12,351

18,091

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

22,926

23,400

26,785

24,516

97,627

26,242

23,437

22,473

27,460

99,612

19,467

18,786

19,254

18,091

18,044

16,727

12,351

13,484

13,482

102

100

104

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2025

11,669

12,089

11,114

7,839

11,669

10,216

7,447

8,563

9,638

10,216

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

10,196

12,399

10,830

14,060

47,485

8,651

12,464

13,394

13,617

48,126

12,089

11,114

7,839

10,216

7,447

8,563

9,638

12,047

12,048

104

120

110

109

122

ASTRONOVA, INC.

Segment Sales and Profit – Historical Quarterly Summary (Recast)

(unaudited, $ in thousands)

44,045

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

15,900

3,456

5,548

5,093

3,989

18,087

3,719

3,721

6,121

4,236

17,797

36.1

35.4

41.5

36.1

34.1

37.0

32.6

32.8

49.7

37.8

38.4

3,433

904

899

913

822

3,537

481

911

1,095

772

3,260

2,347

801

781

877

785

3,243

652

603

710

656

2,621

1,881

644

567

512

497

2,220

606

540

536

471

2,154

7,661

2,348

2,246

2,301

2,104

9,000

1,739

2,055

2,341

1,899

8,034

8,240

1,108

3,302

2,792

1,885

9,087

1,980

1,666

3,780

2,338

9,763

18.7

11.3

24.7

19.8

16.1

18.6

17.3

14.7

30.7

20.9

21.1

10,239

1,519

3,719

3,193

2,279

10,710

2,566

2,081

3,911

3,104

11,662

23.2

15.5

27.8

22.6

19.5

21.9

22.5

18.3

31.7

27.7

25.2

104,041

23,185

27,165

26,317

25,679

102,345

26,289

24,754

26,849

26,330

104,221

33,604

8,002

8,315

8,015

8,236

32,570

8,232

7,194

7,323

7,088

29,838

32.3

34.5

30.6

30.5

32.1

31.8

31.3

29.1

27.3

26.9

28.6

19,971

4,436

5,567

5,438

5,274

20,715

5,124

4,935

4,773

4,870

19,703

3,994

670

507

795

832

2,804

877

961

1,188

1,141

4,167

4,314

1,447

2,363

1,896

15,206

20,911

1,971

1,490

1,667

1,310

6,439

28,280

6,553

8,437

8,128

21,312

44,430

7,973

7,387

7,628

7,323

30,310

5,325

1,449

(121

)

(112

)

(13,076

)

(11,860

)

259

(192

)

(304

)

(234

)

(472

)

5.1

6.2

-0.4

-50.9

-11.6

1.0

-0.8

-1.1

-0.9

-0.5

11,156

2,046

1,619

1,269

1,615

6,550

1,902

870

1,371

1,095

5,238

10.7

8.8

6.0

4.8

6.3

6.4

7.2

3.5

5.1

4.2

5.0

4,768

1,211

2,120

1,416

1,120

5,867

1,668

2,181

2,187

2,049

8,086

8,796

1,346

1,061

1,264

(12,311

)

(8,640

)

571

(708

)

1,288

1,206

5.9

4.1

2.6

3.1

-33.0

-5.7

1.5

-2.0

3.3

0.1

0.8

17,601

2,463

3,849

3,230

2,793

12,336

3,146

2,056

4,173

3,306

12,681

11.9

7.5

9.5

8.0

7.5

8.2

8.3

5.7

10.7

8.8

8.4

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.

(Unaudited, $ in thousands)

37,536

37,361

150,515

151,283

76,705

73,810

11,324

12,227

47,634

50,658

24,769

22,866

216

365

724

367

337

185

11,903

12,289

48,971

50,874

25,708

23,264

30.2

32.7

31.6

33.5

32.3

31.0

31.7

32.9

32.5

33.6

33.5

31.5

11,270

24,538

46,428

59,298

23,426

23,003

(254

)

(311

)

(1,204

)

(311

)

(432

)

(23

)

(990

)

(81

)

(910

)

(258

)

(715

)

(646

)

(69

)

(210

)

(738

)

(383

)

(355

)

(13,403

)

(297

)

(13,403

)

(297

)

10,779

10,881

43,377

44,259

22,019

21,358

(12,311

)

1,206

(8,640

)

1,342

(137

)

254

311

1,204

311

432

216

365

724

1,357

110

1,247

185

186

258

715

646

210

738

383

355

13,403

297

13,403

297

1,124

1,408

5,594

6,615

3,688

1,906

0.1

-33.0

0.8

-5.7

1.7

-0.2

3.0

3.8

3.7

4.4

4.8

2.6

(1,134

)

(15,600

)

(2,376

)

(14,489

)

(756

)

(1,620

)

197

237

910

237

)

328

161

292

565

1,030

950

148

189

542

489

160

561

289

272

13,403

297

13,403

297

2,373

(305

)

419

1,218

2,686

1,277

(59

)

(0.15

)

(2.07

)

(0.31

)

(1.93

)

(0.10

)

(0.21

)

0.03

0.12

0.03

(0.00

)

0.04

0.01

0.02

0.01

0.04

0.07

0.01

0.14

0.01

0.13

0.02

0.07

0.06

0.01

0.02

0.07

0.04

0.01

1.78

0.04

1.76

0.04

0.31

(0.04

)

0.06

0.16

0.32

0.16

(0.01

)

ASTRONOVA, INC.

Reconciliation of Net Income and Margin to Adjusted EBITDA and Margin

(Unaudited, $ in thousands)

(1,134

)

(15,600

)

894

847

346

2,342

1,379

1,266

1,485

(11,145

)

752

219

259

)

365

185

258

210

13,403

3,306

2,794

37,536

37,361

(3.0

(41.8

8.8

7.5

(2,376

)

(14,489

)

(757

)

(1,619

)

3,503

3,210

1,721

1,782

(160

)

2,202

218

(378

)

4,804

4,780

2,234

2,570

5,771

(4,297

)

3,418

2,355

2,310

1,378

1,505

805

311

1,204

311

432

216

724

1,357

110

1,247

185

715

646

738

383

355

100

112

297

13,403

297

12,681

12,336

7,478

5,203

150,515

151,283

76,705

73,810

(1.6

(9.6

(1.0

(2.2

8.4

8.2

9.7

7.0

ASTRONOVA, INC.

Reconciliation of Segment Gross Profit and Margin to Non-GAAP Gross Profit and Margin

(Unaudited, $ in thousands)

7,088

4,237

11,325

8,237

3,989

12,226

311

365

185

7,356

4,548

11,904

8,299

3,989

12,288

26,330

11,206

37,536

25,678

11,683

37,361

26.9

37.8

30.2

32.1

34.1

32.7

27.9

40.6

31.7

32.3

34.1

32.9

29,837

17,797

47,634

32,571

18,087

50,658

216

724

185

202

165

367

31,009

17,962

48,971

32,787

18,087

50,874

104,221

46,294

150,515

102,345

48,938

151,283

28.6

38.4

31.6

31.8

37.0

33.5

29.8

38.8

32.5

32.0

37.0

33.6

ASTRONOVA, INC.

Reconciliation of Segment Operating Profit and Margin to Non-GAAP Operating Profit and Margin

(Unaudited, $ in thousands)

(234

)

2,337

2,103

(13,075

)

1,886

(11,189

)

259

311

365

185

(181

)

(181

)

13,403

(124

)

2,648

2,524

649

1,886

2,535

26,330

11,206

37,536

25,678

11,683

37,361

-0.9

20.9

5.6

-50.9

16.1

-29.9

-0.5

23.6

6.7

2.5

16.1

6.8

(471

)

9,763

9,292

(11,860

)

9,088

(2,772

)

311

1,204

216

724

185

483

171

654

(48

)

(48

)

297

13,403

1,542

9,934

11,476

2,963

9,088

12,051

104,221

46,294

150,515

102,345

48,938

151,283

-0.5

21.1

6.2

-11.6

18.6

-1.8

1.5

21.5

7.6

2.9

18.6

8.0

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

Aerospace

8,240

1,108

3,302

2,792

1,886

9,088

1,980

1,666

3,780

2,338

9,763

8,240

1,108

3,302

2,792

1,886

9,088

1,980

1,666

3,780

2,338

9,763

8,240

1,108

3,302

2,792

1,886

9,088

1,980

1,666

3,780

2,338

9,763

1,873

374

378

365

1,482

373

368

363

360

1,464

126

140

263

(311

)

311

170

171

10,239

1,519

3,719

3,193

2,279

10,710

2,566

2,081

3,911

3,104

11,662

44,045

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

23.2

15.5

27.8

22.6

19.5

21.9

22.5

18.3

31.7

27.7

25.2

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

2,378

532

921

929

896

3,279

913

909

489

1,013

3,322

317

308

)

207

373

625

325

254

1,204

337

(26

)

311

120

216

670

724

2,494

339

)

483

642

185

134

(182

)

(48

)

13,403

297

11,156

2,046

1,619

1,269

1,615

6,550

1,902

870

1,371

1,095

5,238

104,041

23,185

27,165

26,317

25,679

102,345

26,289

24,754

26,849

26,330

104,221

10.7

8.8

6.0

4.8

6.3

6.4

7.2

3.5

5.1

4.2

5.0

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

(4,768

)

(1,211

)

(2,120

)

(1,416

)

(1,122

)

(5,869

)

(1,668

)

(2,181

)

(2,187

)

(2,050

)

(8,087

)

118

173

100

437

(24

)

104

210

(51

)

239

2,697

482

938

944

847

3,210

897

885

827

894

3,503

(7,491

)

(1,811

)

(3,231

)

(2,406

)

(2,069

)

(9,516

)

(2,541

)

(3,170

)

(3,224

)

(2,893

)

(11,829

)

1,379

(434

)

261

2,342

2,203

(454

)

(128

)

346

(161

)

(8,870

)

(1,377

)

(3,492

)

(2,440

)

(4,411

)

(11,719

)

(2,616

)

(2,716

)

(3,096

)

(3,239

)

(11,668

)

2,697

482

938

944

847

3,210

897

885

827

894

3,503

1,379

(434

)

261

2,342

2,205

(454

)

(128

)

346

(161

)

(4,779

)

(1,324

)

(2,289

)

(1,454

)

(1,218

)

(6,285

)

(1,640

)

(2,282

)

(2,392

)

(1,994

)

(8,308

)

903

223

368

222

116

929

270

367

586

449

1,673

432

595

703

254

440

763

355

172

210

738

100

112

(3,794

)

(1,101

)

(1,489

)

(1,232

)

(1,102

)

(4,924

)

(1,321

)

(896

)

(1,108

)

(895

)

(4,220

)

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

8,796

1,346

1,061

1,263

(12,311

)

(8,641

)

571

(708

)

1,288

1,207

118

173

100

437

(24

)

104

210

(51

)

239

2,697

482

938

944

847

3,210

897

885

827

894

3,503

6,073

746

(50

)

273

(13,258

)

(12,288

)

(302

)

(1,697

)

251

(789

)

(2,536

)

1,379

(434

)

261

2,342

2,202

(454

)

(128

)

346

(161

)

4,694

1,180

(311

)

239

(15,600

)

(14,490

)

(377

)

(1,243

)

379

(1,134

)

(2,374

)

2,697

482

938

944

847

3,210

897

885

827

894

3,503

1,379

(434

)

261

2,342

2,202

(454

)

(128

)

346

(161

)

4,266

911

1,304

1,300

1,266

4,780

1,290

1,280

856

1,379

4,805

13,036

2,139

2,191

2,519

(11,146

)

(4,297

)

1,885

469

1,934

1,485

5,773

1,347

325

481

352

219

1,378

306

499

754

751

2,310

625

325

254

1,204

337

(26

)

311

432

120

216

359

365

724

2,576

558

689

1,357

642

185

387

258

715

355

172

210

738

100

112

13,403

297

17,601

2,463

3,849

3,230

2,793

12,336

3,146

2,056

4,175

3,306

12,681

148,086

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

11.9

7.5

9.5

8.0

7.5

8.2

8.3

5.7

10.7

8.8

8.4