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

Jun 08 2026 11:30 BST

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)--Jun. 8, 2026-- 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 EBITDA ¹	$	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 EBITDA ¹	$	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 EBITDA ¹	$	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.