Form 8-K

8-K — AstroNova, Inc.

Accession: 0001193125-26-153713

Filed: 2026-04-14

Period: 2026-04-13

CIK: 0000008146

SIC: 3577 (COMPUTER PERIPHERAL EQUIPMENT, NEC)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — d143936d8k.htm (Primary)

EX-99.1 (d143936dex991.htm)

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8-K

8-K (Primary)

Filename: d143936d8k.htm · Sequence: 1

8-K

false 0000008146 0000008146 2026-04-13 2026-04-13

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d)

of The Securities Exchange Act of 1934

Date of report (Date of earliest event reported): April 13, 2026

ASTRONOVA, INC.

(Exact name of registrant as specified in its charter)

Rhode Island

0-13200

05-0318215

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(I.R.S. Employer

Identification No.)

600 East Greenwich Avenue

West Warwick, RI 02893

(Address of principal executive offices) (Zip Code)

(401) 828-4000

Registrant’s telephone number, including area code

Not applicable

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

☐

Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class

Trading

Symbol(s)

Name of Each Exchange

on which Registered

Common Stock, $0.05 Par Value

ALOT

NASDAQ Global Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item 2.02

Results of Operations and Financial Condition.

On April 13, 2026, we issued a press release reporting the financial results for our fiscal fourth quarter and full year ended January 31, 2026. A copy of the press release is attached hereto as Exhibit 99.1 and is incorporated herein by reference.

The information contained in Item 2.02 of this report and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.

Item 9.01

Financial Statement and Exhibits.

(d)

Exhibits

Exhibit

No.

Exhibit

99.1

Press Release dated April 13, 2026

104

Cover Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

ASTRONOVA, INC.

Dated: April 14, 2026

By:

/s/ Thomas D. DeByle

Thomas D. DeByle

Vice President, Chief Financial Officer and Treasurer

EX-99.1

Filename: d143936dex991.htm · Sequence: 2

EX-99.1

Exhibit 99.1

News Release

FOR IMMEDIATE

RELEASE

AstroNova Reports Fourth-Quarter and Full-Year

Fiscal 2026 Financial Results

•

Fourth quarter revenue of $37.5 million and fiscal 2026 revenue of

$150.5 million, in line with guidance

•

Fourth quarter net loss was $1.1 million, or $0.15 per diluted share; adjusted EBITDA1 was $3.3 million, or 8.8% of sales

•

Product Identification turnaround gaining momentum with well-defined go-to-market and operations strategies

•

Total orders in the quarter were up 6.5% to $41.1 million

•

Generated $3.7 million of operating cash in the quarter and

$11.7 million for the full year, compared with $2.5 million and $4.8 million in the prior periods, respectively

•

Strengthened balance sheet with debt reduced by $2.7 million in the quarter and

$9.1 million in fiscal 2026

•

Previously announced evaluation of strategic alternatives

West Warwick, R.I., April 13, 2026 – 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.”

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.

-MORE-

AstroNova Inc. | 600 East

Greenwich Avenue | West Warwick, RI 02893 | 401.828.4000

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

April 13, 2026

Page

of 19

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 Overview1 (comparisons are to the prior-year period

unless noted otherwise)

Three Months Ended

2H Fiscal 2026 compared with 1H Fiscal 2026

January 31,

2026

January 31,

2025

Variance

2H FY26

1H FY26

Variance

Revenue

37,536

37,361

175

0.5

76,705

73,810

2,895

3.9

Gross Profit

11,325

12,226

(901

)

(7.4

24,769

22,865

1,902

8.3

Gross Profit Margin

30.2

32.7

32.3

31.0

Non-GAAP Gross Profit

11,903

12,289

(386

)

(3.1

25,707

23,264

2,444

10.5

Non-GAAP Gross Profit Margin

31.7

32.9

33.5

31.5

Operating Income (Loss)

(12,311

)

12,367

(100.5

1,342

(137

)

1,479

N/A

Operating Margin

0.1

(33.0

1.7

(0.2

Non-GAAP Operating Income

1,124

1,408

(284

)

(20.2

3,688

1,906

1,781

93.4

Non-GAAP Operating Income Margin

3.0

3.8

4.8

2.6

Net Income (Loss)

(1,134

)

(15,600

)

14,466

(92.7

(756

)

(1,620

)

864

53.3

Non-GAAP Net Income (Loss)

(305

)

419

(724

)

(172.7

1,277

(59

)

1,336

N/A

Adjusted EBITDA

3,306

2,794

512

18.3

7,478

5,202

2,276

43.7

Adjusted EBITDA Margin

8.8

7.5

9.7

7.0

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.

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

April 13, 2026

Page

of 19

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.

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

April 13, 2026

Page

of 19

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.

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

April 13, 2026

Page

of 19

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.

Contact:

Deborah Pawlowski, IRC, Alliance Advisors

Email: dpawlowski@allianceadvisors.com

Phone:

716.843.3908

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

April 13, 2026

Page

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ASTRONOVA, INC.

Condensed Consolidated Statements of Income (Loss)

(In thousands, except per share data)

(Unaudited)

Three Months Ended

January 31,

2026

January 31,

2025

$ Variance

% Variance

Revenue

37,536

37,361

175

0.5

Cost of Revenue

26,211

25,135

1,076

4.3

Gross Profit

11,325

12,226

(901

)

(7.4

Total Gross Profit Margin

30.2

32.7

Operating Expenses:

Selling & Marketing

5,642

6,097

(455

)

(7.5

Research & Development

1,797

1,617

180

11.1

General & Administrative

3,830

3,420

410

12.0

Goodwill Impairment

—

13,403

(13,403

)

(100.0

Total Operating Expenses

11,269

24,537

(13,268

)

(54.1

Operating Income (Loss)

(12,311

)

12,367

(100.5

Total Operating Margin

0.1

(33.0

Interest Expense

894

847

5.5

Other (Income)/Expense, net

(51

)

100

(151

)

(151.0

Income (Loss) Before Taxes

(788

)

(13,258

)

12,470

(94.1

Income Tax Provision (Benefit)

346

2,342

(1,996

)

(85.2

Net Income (Loss)

(1,134

)

(15,600

)

14,466

(92.7

Net Income (Loss) per Common Share - Basic

(0.15

)

(2.07

)

Net Income (Loss) per Common Share - Diluted

(0.15

)

(2.07

)

Weighted Average Number of Common Shares - Basic

7,653

7,534

Weighted Average Number of Common Shares - Diluted

7,653

7,534

Twelve Months Ended

January 31,

2026

January 31,

2025

$ Variance

% Variance

Revenue

150,515

151,283

(768

)

(0.5

Cost of Revenue

102,881

100,625

2,256

2.2

Gross Profit

47,634

50,658

(3,024

)

(6.0

Total Gross Profit Margin

31.6

33.5

Operating Expenses:

Selling & Marketing

22,963

24,252

(1,289

)

(5.3

Research & Development

6,788

6,047

741

12.3

General & Administrative

16,380

15,596

784

5.0

Goodwill Impairment

297

13,403

(13,106

)

(97.8

Total Operating Expenses

46,428

59,298

(12,870

)

(21.7

Operating Income (Loss)

1,206

(8,640

)

9,846

(114.0

Total Operating Margin

0.8

(5.7

Interest Expense

3,503

3,210

293

9.1

Other (Income)/Expense, net

239

437

(198

)

(45.3

Income (Loss) Before Taxes

(2,536

)

(12,287

)

9,751

(79.4

Income Tax Provision (Benefit)

(160

)

2,202

(2,362

)

(107.3

Net Income (Loss)

(2,376

)

(14,489

)

12,113

(83.6

Net Income (Loss) per Common Share - Basic

(0.31

)

(1.93

)

Net Income (Loss) per Common Share - Diluted

(0.31

)

(1.93

)

Weighted Average Number of Common Shares - Basic

7,614

7,509

Weighted Average Number of Common Shares - Diluted

7,614

7,509

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

April 13, 2026

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ASTRONOVA, INC.

Condensed Consolidated Balance Sheets

(In thousands)

(Unaudited)

January 31,

2026

January 31,

2025

ASSETS

CURRENT ASSETS

Cash and Cash Equivalents

4,072

5,050

Accounts Receivable, net

18,985

21,218

Inventories, net

43,252

47,894

Prepaid Expenses and Other Current Assets

4,395

3,855

Total Current Assets

70,704

78,017

PROPERTY, PLANT AND EQUIPMENT

40,400

58,613

Less Accumulated Depreciation

(26,272

)

(42,820

)

Property, Plant and Equipment, net

14,128

15,793

OTHER ASSETS

Identifiable Intangibles, net

21,496

23,519

Goodwill

17,376

16,361

Deferred Tax Assets, net

9,831

8,431

Right of Use Asset

2,466

1,781

Other Assets

1,565

1,693

TOTAL ASSETS

137,566

145,595

LIABILITIES AND SHAREHOLDERS’ EQUITY

CURRENT LIABILITIES

Accounts Payable

6,806

7,928

Accrued Compensation

4,390

3,745

Other Accrued Expenses

4,702

4,461

Revolving Line of Credit

16,273

20,929

Current Portion of Long-Term Debt

3,033

6,110

Short-Term Debt

—

581

Current Liability – Royalty Obligation

1,656

1,358

Current Liability – Excess Royalty Payment Due

331

691

Income Taxes Payable

691

—

Deferred Revenue

489

543

Total Current Liabilities

38,371

46,346

NON-CURRENT LIABILITIES

Long-Term Debt, net of current portion

18,295

19,044

Lease Liabilities, net of current portion

1,953

1,535

Grant Deferred Revenue

899

1,090

Royalty Obligation, net of current portion

145

1,106

Income Tax Payables

800

684

Deferred Tax Liabilities

—

Other Long-Term Liability

241

—

TOTAL LIABILITIES

60,704

69,845

SHAREHOLDERS’ EQUITY

Common Stock

554

547

Additional Paid-in Capital

66,329

64,215

Retained Earnings

47,004

49,380

Treasury Stock

(35,227

)

(35,043

)

Accumulated Other Comprehensive Loss, net of tax

(1,798

)

(3,349

)

TOTAL SHAREHOLDERS’ EQUITY

76,862

75,750

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

137,566

145,595

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Condensed Consolidated Statements of Cash Flow

(In thousands)

(Unaudited)

Three Months Ended

January 31, 2026

January 31, 2025

Cash Flows from Operating Activities:

Net Income (Loss)

(1,134

)

(15,599

)

Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:

Depreciation and Amortization

1,379

1,266

Grant Income Included in Depreciation

155

Goodwill Impairment

—

13,403

Amortization of Debt Issuance Costs

Share-Based Compensation

751

219

Deferred Income Tax Provision (Benefit)

(1,238

)

874

Loss on Disposal of Fixed Assets

—

Changes in Assets and Liabilities:

Accounts Receivable

1,566

1,240

Inventories

2,129

236

Income Taxes

1,764

630

Accounts Payable and Accrued Expenses

(758

)

Deferred Revenue

(519

)

(440

)

Other

(434

)

645

Net Cash Provided by Operating Activities

3,673

2,525

Cash Flows from Investing Activities:

Proceeds from Sale of Equipment

—

Purchases of Property, Plant and Equipment

(139

)

(79

)

Cash Paid for MTEX Acquisition, net of cash acquired

—

Net Cash Used for Investing Activities

(126

)

(79

)

Cash Flows from Financing Activities:

Net Cash Proceeds from Employee Stock Option Plans

—

Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan

—

Net Cash Used for Payment of Taxes Related to Vested Restricted Stock

)

(18

)

Revolving Credit Facility, net

(1,981

)

734

Proceeds from Long Term Debt Borrowings

—

Payment of Minimum Guarantee Royalty Obligation

(279

)

(655

)

Principal Payments of Long-Term Debt

(864

)

(2,274

)

Payments of Debt Issuance Costs

—

Net Cash Provided by (Used for) Financing Activities

(3,125

)

(2,163

)

Effect of Exchange Rate Changes on Cash and Cash Equivalents

336

Net Increase in Cash and Cash Equivalents

466

618

Cash and Cash Equivalents, Beginning of Period

3,606

4,432

Cash and Cash Equivalents, End of Period

4,072

5,050

Supplemental Information:

Cash Paid During the Period for:

Interest

751

810

Income Taxes, net of refunds

707

Non-Cash Transactions:

Operating Lease Obtained in Exchange for Operating Lease Liabilities

—

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Condensed Consolidated Statements of Cash Flow – Twelve Months Ended

(In thousands)

(Unaudited)

Twelve Months Ended

January 31, 2026

January 31, 2025

Cash Flows from Operating Activities:

Net Income (Loss)

(2,376

)

(14,489

)

Adjustments to Reconcile Net Income (Loss) to Net Cash Provided by Operating Activities:

Depreciation and Amortization

4,804

4,780

Grant Income Included in Depreciation

330

159

Goodwill Impairment

297

13,403

Amortization of Debt Issuance Costs

Share-Based Compensation

2,310

1,378

Deferred Income Tax Provision (Benefit)

(1,312

)

874

Loss on Disposal of Fixed Assets

115

—

Changes in Assets and Liabilities:

Accounts Receivable

2,786

2,859

Inventories

5,909

1,616

Income Taxes

663

(904

)

Accounts Payable and Accrued Expenses

(1,125

)

(2,379

)

Deferred Revenue

(420

)

(1,520

)

Other

(286

)

(959

)

Net Cash Provided by Operating Activities

11,738

4,848

Cash Flows from Investing Activities:

Proceeds from Sale of Equipment

113

—

Purchases of Property, Plant and Equipment

(332

)

(1,165

)

Cash Paid for MTEX Acquisition, net of cash acquired

—

(19,109

)

Net Cash Used for Investing Activities

(219

)

(20,274

)

Cash Flows from Financing Activities:

Net Cash Proceeds from Employee Stock Option Plans

—

Net Cash Proceeds from Share Purchases under Employee Stock Purchase Plan

146

Net Cash Used for Payment of Taxes Related to Vested Restricted Stock

(184

)

(450

)

Revolving Credit Facility, net

(5,158

)

11,508

Proceeds from Long Term Debt Borrowings

19,720

15,078

Payment of Minimum Guarantee Royalty Obligation

(1,238

)

(1,902

)

Principal Payments of Long-Term Debt

(25,982

)

(8,980

)

Payments of Debt Issuance Costs

(66

)

(34

)

Net Cash Provided by (Used for) Financing Activities

(12,857

)

15,378

Effect of Exchange Rate Changes on Cash and Cash Equivalents

360

571

Net (Decrease) Increase in Cash and Cash Equivalents

(978

)

523

Cash and Cash Equivalents, Beginning of Period

5,050

4,527

Cash and Cash Equivalents, End of Period

4,072

5,050

Supplemental Information:

Cash Paid During the Period for:

Interest

3,043

2,701

Income Taxes, net of refunds

634

2,210

Non-Cash Transactions:

Operating Lease Obtained in Exchange for Operating Lease Liabilities

1,075

1,581

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Segment Sales and Profit

(Unaudited, $ in thousands)

Three Months

Ended

Twelve Months

Ended

($ in thousands)

January 31,

2026

January 31,

2025

January 31,

2026

January 31,

2025

Revenue:

Product ID

26,330

25,678

104,221

102,345

Aerospace

11,206

11,683

46,294

48,938

Total Revenue

37,536

37,361

150,515

151,283

Gross Profit:

Product ID

7,088

8,237

29,837

32,571

Aerospace

4,237

3,989

17,797

18,087

Gross Profit

11,325

12,226

47,634

50,658

Gross Profit Margin:

Product ID

26.9

32.1

28.6

31.8

Aerospace

37.8

34.1

38.4

37.0

Gross Profit Margin

30.2

32.7

31.6

33.5

Segment Operating Income:

Product ID

(234

)

(13,076

)

(472

)

(11,860

)

Aerospace

2,337

1,885

9,763

9,087

Total Segment Operating Income

2,103

(11,191

)

9,291

(2,773

)

Segment Operating Margin:

Product ID

(0.9

(50.9

(0.5

(11.6

Aerospace

20.9

16.1

21.1

18.6

Total Segment Operating Margin

5.6

(30.0

6.2

(1.8

Corporate Expense

(2,049

)

(1,120

)

(8,085

)

(5,867

)

Operating Income (Loss)

(12,311

)

1,206

(8,640

)

Interest Expense

894

847

3,503

3,210

Other (Income)/Expense, net

(51

)

100

239

437

Income (Loss) Before Income Taxes

(788

)

(13,259

)

(2,536

)

(12,287

)

Income Tax Provision (Benefit)

346

2,342

(160

)

2,202

Net Income (Loss)

(1,134

)

(15,600

)

(2,376

)

(14,489

)

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Segment Sales and Non-GAAP Profit

(Unaudited, $ in thousands)

Three Months

Ended

Twelve Months

Ended

($ in thousands)

January 31,

2026

January 31,

2025

January 31,

2026

January 31,

2025

Revenue:

Product ID

26,330

25,678

104,221

102,345

Aerospace

11,206

11,683

46,294

48,938

Total Revenue

37,536

37,361

150,515

151,283

Non-GAAP Gross Profit:

Product ID

7,356

8,296

31,010

32,770

Aerospace

4,547

3,989

17,961

18,087

Non-GAAP Gross Profit

11,903

12,285

48,971

50,857

Non-GAAP Gross Profit Margin:

Product ID

27.9

32.3

29.8

32.0

Aerospace

40.6

34.1

38.8

37.0

Non-GAAP Gross Profit Margin

31.7

32.9

32.5

33.6

Non-GAAP Segment Operating Income:

Product ID

(124)

647

1,542

2,966

Aerospace

2,648

1,886

9,934

9,088

Total Non-GAAP Segment Operating Income

2,524

2,533

11,476

12,054

Non-GAAP Segment Operating Margin:

Product ID

(0.5)

2.5

1.5

2.9

Aerospace

23.6

16.1

21.5

18.6

Total Non-GAAP Segment Operating Margin

6.7

6.8

7.6

8.0

Corporate Expense

(1,400)

(1,123)

(5,882)

(5,437)

Non-GAAP Operating Income

1,124

1,409

5,594

6,617

Interest Expense

894

847

3,503

3,210

Other (Income)/Expense, net

(51)

100

437

Income Before Income Taxes

281

462

2,063

2,970

Adjusted Income Tax Provision (Benefit)

586

845

284

Non-GAAP Net Income

(305)

419

1,218

2,686

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Revenue by Market

(unaudited, $ in thousands)

Product ID:

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY2026

Desktop Label Printers

14,220

16,349

15,408

14,019

59,996

15,478

15,190

16,115

15,041

61,824

Mail & Sheet/Flat Pack Printers

3,930

3,471

3,679

4,494

15,574

4,050

3,740

4,280

4,138

16,208

Professional Label Printers

3,245

4,231

3,423

2,972

13,871

3,247

3,506

3,636

3,863

14,252

Direct to Package/Overprint Printers

1,787

2,925

3,627

2,718

11,057

3,396

2,230

2,371

2,579

10,576

Flexible Packaging Printers

—

1,289

1,304

216

Other

189

165

186

543

368

670

1,145

TOTAL

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

Aerospace:

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY2025

Q1 FY26*

Q2 FY26

Q3 FY26

Q4 FY26

FY2026

Commercial Aircraft

3,813

6,299

5,221

4,363

19,696

4,953

4,714

5,764

5,030

20,461

Aftermarket

4,694

5,326

7,058

5,481

22,559

4,911

4,953

4,955

4,831

19,650

Defense

329

608

734

781

2,452

811

1,047

766

885

3,509

Regional and Biz Jet Aircraft

697

604

993

802

3,096

396

431

634

195

1,656

Other

243

537

256

1,135

348

203

201

266

1,018

TOTAL

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

Consolidated Total

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

Q1 fiscal 2026 revenue by market has been revised from amount previously reported in our Q1 fiscal 2026 press

release issued on June 5, 2025, to correct a classification error between market categories. Total Q1 fiscal sales were unaffected.

ASTRONOVA, INC.

Revenue

by Type

(unaudited, $ in thousands)

Product ID

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2026

Product ID HW

3,802

4,311

4,590

5,591

18,294

4,776

4,511

5,357

5,332

19,976

Product ID Recurring Supplies, Parts & Service

19,383

22,854

21,727

20,087

84,051

21,513

20,243

21,492

20,997

84,245

Total Product ID

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

Aerospace

Aerospace HW

5,073

8,048

7,032

6,185

26,338

6,519

6,425

7,360

6,369

26,673

Aerospace Recurring Supplies, Parts & Service

4,703

5,326

7,073

5,498

22,600

4,900

4,923

4,960

4,838

19,621

Total Aerospace

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

Consolidated

AstroNova HW

8,875

12,359

11,622

11,776

44,632

11,295

10,936

12,717

11,701

46,649

AstroNova Recurring Supplies, Parts & Service

24,086

28,180

28,800

25,585

106,651

26,413

25,166

26,452

25,835

103,866

TOTAL

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Bookings and Backlog

(unaudited, $ in thousands)

AstroNova

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2026

Beginning backlog (Non-MTEX)

31,394

31,556

29,900

27,093

31,394

28,307

25,491

25,291

21,989

28,307

MTEX*

—

3,084

—

3,084

—

Backlog Beginning of Period (incl. MTEX)

31,394

34,640

29,900

27,093

34,478

28,307

25,491

25,291

21,989

28,307

Revenue Recognized (Billings)

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

New Bookings During Period

33,122

35,799

37,615

38,576

145,112

34,893

35,901

35,867

41,077

147,738

Backlog End of Period

31,556

29,900

27,093

28,307

25,491

25,291

21,989

25,530

Book/Bill %

100

103

109

MTEX Backlog was acquired during 2nd quarter fiscal 2025

Product Identification

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2026

Beginning backlog (Non-MTEX)

19,725

19,467

18,786

19,254

19,725

18,091

18,044

16,727

12,351

18,091

MTEX*

—

3,084

—

3,084

—

Backlog Beginning of Period (incl. MTEX)

19,725

22,551

18,786

19,254

22,809

18,091

18,044

16,727

12,351

18,091

Revenue Recognized (Billings)

23,185

27,165

26,317

25,678

102,345

26,289

24,754

26,849

26,330

104,221

New Bookings During Period

22,926

23,400

26,785

24,516

97,627

26,242

23,437

22,473

27,460

99,612

Backlog End of Period

19,467

18,786

19,254

18,091

18,044

16,727

12,351

13,484

13,482

Book/Bill %

102

100

104

MTEX Backlog was acquired during 2nd quarter fiscal 2025

Aerospace

Q1 FY25

Q2 FY25

Q3 FY25

Q4 FY25

FY 2025

Q1 FY26

Q2 FY26

Q3 FY26

Q4 FY26

FY 2025

Backlog Beginning of Period

11,669

12,089

11,114

7,839

11,669

10,216

7,447

8,563

9,638

10,216

Revenue Recognized (Billings)

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

New Bookings During Period

10,196

12,399

10,830

14,060

47,485

8,651

12,464

13,394

13,617

48,126

Backlog End of Period

12,089

11,114

7,839

10,216

7,447

8,563

9,638

12,047

12,048

Book/Bill %

104

120

110

109

122

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Segment Sales and Profit – Historical Quarterly Summary (Recast)

(unaudited, $ in thousands)

FY24

FY25

FY26

Revenue

44,045

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

Gross profit

15,900

3,456

5,548

5,093

3,989

18,087

3,719

3,721

6,121

4,236

17,797

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

Operating Expenses:

Selling & Marketing

3,433

904

899

913

822

3,537

481

911

1,095

772

3,260

Research & Development

2,347

801

781

877

785

3,243

652

603

710

656

2,621

General & Administrative

1,881

644

567

512

497

2,220

606

540

536

471

2,154

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

Aerospace Operating Income

8,240

1,108

3,302

2,792

1,885

9,087

1,980

1,666

3,780

2,338

9,763

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

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

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

FY24

FY25

FY26

Revenue

104,041

23,185

27,165

26,317

25,679

102,345

26,289

24,754

26,849

26,330

104,221

Gross profit

33,604

8,002

8,315

8,015

8,236

32,570

8,232

7,194

7,323

7,088

29,838

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

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

Research & Development

3,994

670

507

795

832

2,804

877

961

1,188

1,141

4,167

General & Administrative

4,314

1,447

2,363

1,896

15,206

20,911

1,971

1,490

1,667

1,310

6,439

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

Product ID Operating Income

5,325

1,449

(121

)

(112

)

(13,076

)

(11,860

)

259

(192

)

(304

)

(234

)

(472

)

Product ID Operating Margin

5.1

6.2

(0.4

(50.9

(11.6

1.0

(0.8

(1.1

(0.9

(0.5

Non-GAAP

Product ID Adjusted EBITDA1

11,156

2,046

1,619

1,269

1,615

6,550

1,902

870

1,371

1,095

5,238

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

Corporate Expense

4,768

1,211

2,120

1,416

1,120

5,867

1,668

2,181

2,187

2,049

8,086

Consolidated Operating Income

8,796

1,346

1,061

1,264

(12,311

)

(8,640

)

571

(708

)

1,288

1,206

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

Non-GAAP

Adjusted EBITDA1

17,601

2,463

3,849

3,230

2,793

12,336

3,146

2,056

4,173

3,306

12,681

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

(1)

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

April 13, 2026

Page

of 19

ASTRONOVA, INC.

Reconciliation of GAAP to Non-GAAP Items

(Unaudited, $ in thousands)

Three Months Ended

Twelve Months Ended

2H Fiscal 2026 and 1H Fiscal 2026

January 31,

2026

January 31,

2025

January 31,

2026

January 31,

2025

2H FY26

1H FY26

Revenue

37,536

37,361

150,515

151,283

76,705

73,810

Gross Profit

11,324

12,227

47,634

50,658

24,769

22,866

Inventory Step-Up

—

216

—

Inventory Provision

365

—

724

—

724

—

Restructuring Charges

—

367

—

337

Product Retrofit Costs

185

—

185

—

185

—

Non-GAAP Gross Profit

11,903

12,289

48,971

50,874

25,708

23,264

Gross Profit Margin

30.2

32.7

31.6

33.5

32.3

31.0

Non-GAAP Gross Profit Margin

31.7

32.9

32.5

33.6

33.5

31.5

Operating Expenses

11,270

24,538

46,428

59,298

23,426

23,003

MTEX-related Acquisition Expenses

—

(254

)

(311

)

(1,204

)

—

(311

)

CFO Transition Costs

—

(432

)

—

Restructuring Charges

(23

)

—

(990

)

—

(81

)

(910

)

Non-Recurring Legal Expenses

(258

)

—

(715

)

—

(646

)

(69

)

Non-Recurring Proxy Costs

(210

)

—

(738

)

—

(383

)

(355

)

Goodwill Impairment

—

(13,403

)

(297

)

(13,403

)

(297

)

—

Non-GAAP Operating Expenses

10,779

10,881

43,377

44,259

22,019

21,358

Operating Income (Loss)

(12,311

)

1,206

(8,640

)

1,342

(137

)

MTEX-related Acquisition Expenses

—

254

311

1,204

—

311

CFO Transition Costs

—

432

—

Inventory Step-Up

—

216

—

Inventory Provision

365

—

724

—

724

—

Restructuring Charges

—

1,357

—

110

1,247

Product Retrofit Costs

185

—

185

—

186

—

Non-Recurring Legal Expenses

258

—

715

—

646

Non-Recurring Proxy Costs

210

—

738

—

383

355

Goodwill Impairment

—

13,403

297

13,403

297

—

Non-GAAP Operating Income

1,124

1,408

5,594

6,615

3,688

1,906

Operating Income Margin

0.1

(33.0

0.8

(5.7

1.7

(0.2

Non-GAAP Operating Income Margin

3.0

3.8

3.7

4.4

4.8

2.6

Net Income (Loss)

(1,134

)

(15,600

)

(2,376

)

(14,489

)

(756

)

(1,620

)

MTEX-related Acquisition

Expenses(1)

—

197

237

910

—

237

CFO Transition Costs, net(1)

—

)

—

328

—

Inventory Step-Up(1)

—

161

—

Inventory Provision(1)

292

—

565

—

565

—

Restructuring Charges(1)

—

1,030

—

950

Product Retrofit Costs(1)

148

—

148

—

148

—

Non-Recurring Legal Expenses(1)

189

—

542

—

489

Non-Recurring Proxy Costs(1)

160

—

561

—

289

272

Realized Fx(1)

—

Other (Income) and Expense(1)

—

Goodwill Impairment

—

13,403

297

13,403

297

—

Tax Provision Valuation Allowance

—

2,373

—

2,373

—

Non-GAAP Net Income (Loss)

(305

)

419

1,218

2,686

1,277

(59

)

Diluted Earnings (Loss) Per Share

(0.15

)

(2.07

)

(0.31

)

(1.93

)

(0.10

)

(0.21

)

MTEX-related Acquisition

Expenses(1)

—

0.03

0.12

—

0.03

CFO Transition Costs, net(1)

—

(0.00

)

—

0.04

—

Inventory Step-Up(1)

—

0.01

0.02

—

0.01

Inventory Provision(1)

0.04

—

0.07

—

0.07

—

Restructuring Charges(1)

0.01

—

0.14

—

0.01

0.13

Product Retrofit Costs(1)

0.02

—

0.02

—

0.02

—

Non-Recurring Legal Expenses(1)

0.02

—

0.07

—

0.06

0.01

Non-Recurring Proxy Costs(1)

0.02

—

0.07

—

0.04

Realized Fx(1)

—

0.01

—

0.01

—

Other (Income) and Expense(1)

—

0.01

—

0.01

—

Goodwill Impairment(1)

—

1.78

0.04

1.76

0.04

—

Tax Provision Valuation Allowance

—

0.31

—

0.31

—

Non-GAAP Diluted Earnings (Loss) Per Share

(0.04

)

0.06

0.16

0.32

0.16

(0.01

)

(1)

Net of taxes

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

April 13, 2026

Page

of 19

ASTRONOVA INC.

Reconciliation of Net Income and Margin to Adjusted EBITDA and Margin

(Unaudited, $ in thousands)

Three Months Ended

January 31,

2026

January 31,

2025

Net Income (Loss)

(1,134

)

(15,600

)

Interest Expense

894

847

Income Tax Expense (Benefit)

346

2,342

Depreciation & Amortization

1,379

1,266

EBITDA

1,485

(11,145

)

Share-Based Compensation

752

219

MTEX-related Acquisition Expenses

—

259

CFO Transition Costs

—

)

Inventory Step-Up

—

Inventory Provision

365

—

Restructuring Charges

—

Product Retrofit Costs

185

—

Non-Recurring Legal Expenses

258

—

Non-Recurring Proxy Costs

210

—

Goodwill Impairment

—

13,403

Adjusted EBITDA

3,306

2,794

Revenue

37,536

37,361

Net Income (Loss) Margin

(3.0

(41.8

Adjusted EBITDA Margin

8.8

7.5

Twelve Months Ended

2H Fiscal 2026 and 1H 2026

January 31,

2026

January 31,

2025

2H FY26

1H FY26

Net Income (Loss)

(2,376

)

(14,489

)

(757

)

(1,619

)

Interest Expense

3,503

3,210

1,721

1,782

Income Tax Expense (Benefit)

(160

)

2,202

218

(378

)

Depreciation & Amortization

4,804

4,780

2,234

2,570

EBITDA

5,771

(4,297

)

3,418

2,355

Share-Based Compensation

2,310

1,378

1,505

805

MTEX-related Acquisition Expenses

311

1,204

—

311

CFO Transition Costs

—

432

—

Inventory Step-Up

216

—

Inventory Provision

724

—

724

—

Restructuring Charges

1,357

—

110

1,247

Product Retrofit Costs

185

—

185

—

Non-Recurring Legal Expenses

715

—

646

Non-Recurring Proxy Costs

738

—

383

355

Realized Fx

100

—

100

—

Other (Income) and Expense

112

—

112

—

Goodwill Impairment

297

13,403

297

—

Adjusted EBITDA

12,681

12,336

7,478

5,203

Revenue

150,515

151,283

76,705

73,810

Net Income (Loss) Margin

(1.6

(9.6

(1.0

(2.2

Adjusted EBITDA Margin

8.4

8.2

9.7

7.0

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

April 13, 2026

Page

of 19

ASTRONOVA INC.

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

(Unaudited, $ in thousands)

Three Months Ended

January 31, 2026

January 31, 2025

Product

Aerospace

Total

Product

Aerospace

Total

Segment Gross Profit

7,088

4,237

11,325

8,237

3,989

12,226

Inventory Step-Up

—

Inventory Provision

311

365

—

Product Retrofit Costs

185

—

185

—

Restructuring Charges

—

Non-GAAP - Segment Gross Profit

7,356

4,548

11,904

8,299

3,989

12,288

Revenue

26,330

11,206

37,536

25,678

11,683

37,361

Gross Profit Margin

26.9

37.8

30.2

32.1

34.1

32.7

Non-GAAP Segment Gross Profit Margin

27.9

40.6

31.7

32.3

34.1

32.9

Twelve Months Ended

January 31, 2026

January 31, 2025

Product

Aerospace

Total

Product

Aerospace

Total

Segment Gross Profit

29,837

17,797

47,634

32,571

18,087

50,658

Inventory Step-Up

—

216

—

216

Inventory Provision

724

—

724

—

Product Retrofit Costs

185

—

185

—

Restructuring Charges

202

165

367

—

Non-GAAP - Segment Gross Profit

31,009

17,962

48,971

32,787

18,087

50,874

Revenue

104,221

46,294

150,515

102,345

48,938

151,283

Gross Profit Margin

28.6

38.4

31.6

31.8

37.0

33.5

Non-GAAP Segment Gross Profit Margin

29.8

38.8

32.5

32.0

37.0

33.6

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

April 13, 2026

Page

of 19

ASTRONOVA INC.

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

(Unaudited, $ in thousands)

Three Months Ended

January 31, 2026

January 31, 2025

Product

Aerospace

Total

Product

Aerospace

Total

Segment Operating Income (Loss)

(234

)

2,337

2,103

(13,075

)

1,886

(11,189

)

MTEX-related Acquisition Expenses

—

259

—

259

Inventory Step-Up

—

Inventory Provision

311

365

—

Product Retrofit Costs

185

—

185

—

Restructuring Charges

—

Non-Recurring Legal Expenses

(181

)

—

(181

)

—

Goodwill Impairment

—

13,403

—

13,403

Non-GAAP - Segment Operating Income (Loss)

(124

)

2,648

2,524

649

1,886

2,535

Revenue

26,330

11,206

37,536

25,678

11,683

37,361

Operating Margin

(0.9

20.9

5.6

(50.9

16.1

(29.9

Non-GAAP Operating Margin

(0.5

23.6

6.7

2.5

16.1

6.8

Twelve Months Ended

January 31, 2026

January 31, 2025

Product

Aerospace

Total

Product

Aerospace

Total

Segment Operating Income (Loss)

(471

)

9,763

9,292

(11,860

)

9,088

(2,772

)

MTEX-related Acquisition Expenses

311

—

311

1,204

—

1,204

Inventory Step-Up

—

216

—

216

Inventory Provision

724

—

724

—

Product Retrofit Costs

185

—

185

—

Restructuring Charges

483

171

654

—

Non-Recurring Legal Expenses

(48

)

—

(48

)

—

Goodwill Impairment

297

—

297

13,403

—

13,403

Non-GAAP - Segment Operating Income

1,542

9,934

11,476

2,963

9,088

12,051

Revenue

104,221

46,294

150,515

102,345

48,938

151,283

Operating Margin

(0.5

21.1

6.2

(11.6

18.6

(1.8

Non-GAAP Operating Margin

1.5

21.5

7.6

2.9

18.6

8.0

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

April 13, 2026

Page

of 19

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

Operating Income

8,240

1,108

3,302

2,792

1,886

9,088

1,980

1,666

3,780

2,338

9,763

Other

—

Interest expense

—

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

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

Depreciation & Amortization

1,873

374

378

365

1,482

373

368

363

360

1,464

Share-Based Compensation

126

140

263

Inventory Provision

—

(311

)

311

—

Restructuring Charges

—

170

—

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

Revenue

44,045

9,776

13,374

14,105

11,683

48,938

11,419

11,348

12,320

11,206

46,294

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

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

Operating Income

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

Other

—

Interest expense

—

Profit Before Tax

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

Tax

—

Net Income

5,325

1,449

(121

)

(113

)

(13,075

)

(11,860

)

259

(192

)

(304

)

(234

)

(471

)

Interest expense

—

Tax

—

Depreciation & Amortization

2,378

532

921

929

896

3,279

913

909

489

1,013

3,322

Share-Based Compensation

317

308

)

207

373

MTEX-related Acquisition Expenses

—

625

325

254

1,204

337

(26

)

—

311

Inventory Step-Up

—

120

216

—

Inventory Provision

—

670

724

Restructuring Charges

2,494

—

339

)

483

Product Retrofit Costs

642

—

185

Non-Recurring Legal Expenses

—

134

(182

)

(48

)

Goodwill Impairment

—

13,403

—

297

—

297

Adjusted EBITDA

11,156

2,046

1,619

1,269

1,615

6,550

1,902

870

1,371

1,095

5,238

Revenue

104,041

23,185

27,165

26,317

25,679

102,345

26,289

24,754

26,849

26,330

104,221

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

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

Operating Income

(4,768

)

(1,211

)

(2,120

)

(1,416

)

(1,122

)

(5,869

)

(1,668

)

(2,181

)

(2,187

)

(2,050

)

(8,087

)

Other

118

173

100

437

(24

)

104

210

(51

)

239

Interest expense

2,697

482

938

944

847

3,210

897

885

827

894

3,503

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

)

Tax

1,379

(434

)

261

2,342

2,203

(454

)

(128

)

346

(161

)

Net Income

(8,870

)

(1,377

)

(3,492

)

(2,440

)

(4,411

)

(11,719

)

(2,616

)

(2,716

)

(3,096

)

(3,239

)

(11,668

)

Interest expense

2,697

482

938

944

847

3,210

897

885

827

894

3,503

Tax

1,379

(434

)

261

2,342

2,205

(454

)

(128

)

346

(161

)

Depreciation & Amortization

EBITDA

(4,779

)

(1,324

)

(2,289

)

(1,454

)

(1,218

)

(6,285

)

(1,640

)

(2,282

)

(2,392

)

(1,994

)

(8,308

)

Share-Based Compensation

903

223

368

222

116

929

270

367

586

449

1,673

CFO Transition Costs

—

432

—

432

—

Restructuring Charges

—

595

—

703

Non-Recurring Legal Expenses

—

254

440

763

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

)

2024

Q1 25

Q2 25

Q3 25

Q4 25

FY25

Q1 26

Q2 26

Q3 26

Q4 26

FY26

Operating Income

8,796

1,346

1,061

1,263

(12,311

)

(8,641

)

571

(708

)

1,288

1,207

Other

118

173

100

437

(24

)

104

210

(51

)

239

Interest expense

2,697

482

938

944

847

3,210

897

885

827

894

3,503

Profit Before Tax

6,073

746

(50

)

273

(13,258

)

(12,288

)

(302

)

(1,697

)

251

(789

)

(2,536

)

Tax

1,379

(434

)

261

2,342

2,202

(454

)

(128

)

346

(161

)

Net Income

4,694

1,180

(311

)

239

(15,600

)

(14,490

)

(377

)

(1,243

)

379

(1,134

)

(2,374

)

Interest expense

2,697

482

938

944

847

3,210

897

885

827

894

3,503

Tax

1,379

(434

)

261

2,342

2,202

(454

)

(128

)

346

(161

)

Depreciation & Amortization

4,266

911

1,304

1,300

1,266

4,780

1,290

1,280

856

1,379

4,805

EBITDA

13,036

2,139

2,191

2,519

(11,146

)

(4,297

)

1,885

469

1,934

1,485

5,773

Share-Based Compensation

1,347

325

481

352

219

1,378

306

499

754

751

2,310

MTEX-related Acquisition Expenses

—

625

325

254

1,204

337

(26

)

—

311

CFO Transition Costs

—

432

—

432

—

Inventory Step-Up

—

120

216

—

Inventory Provision

—

359

365

724

Restructuring Charges

2,576

—

558

689

1,357

Product Retrofit Costs

642

—

185

Non-Recurring Legal Expenses

—

387

258

715

Non-Recurring Proxy Costs

—

355

172

210

738

Realized Fx

—

100

—

100

Other (Income) and Expense

—

112

—

112

Goodwill Impairment

—

13,403

—

297

—

297

Adjusted EBITDA

17,601

2,463

3,849

3,230

2,793

12,336

3,146

2,056

4,175

3,306

12,681

Revenue

148,086

32,961

40,539

40,422

37,361

151,283

37,708

36,102

39,169

37,536

150,515

Adjusted EBITDA Margin

11.9

7.5

9.5

8.0

7.5

8.2

8.3

5.7

10.7

8.8

8.4

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Apr. 13, 2026

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Entity Registrant Name

ASTRONOVA, INC.

Entity Incorporation State Country Code

Entity File Number

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Entity Tax Identification Number

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Entity Address, Address Line One

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Name of the City or Town

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Code for the postal or zip code

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- Definition

Name of the state or province.

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dei_EntityAddressStateOrProvince

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- Definition

A unique 10-digit SEC-issued value to identify entities that have filed disclosures with the SEC. It is commonly abbreviated as CIK.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Indicate if registrant meets the emerging growth company criteria.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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Name:

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- Definition

Commission file number. The field allows up to 17 characters. The prefix may contain 1-3 digits, the sequence number may contain 1-8 digits, the optional suffix may contain 1-4 characters, and the fields are separated with a hyphen.

+ References

No definition available.

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- Definition

Two-character EDGAR code representing the state or country of incorporation.

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No definition available.

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- Definition

The exact name of the entity filing the report as specified in its charter, which is required by forms filed with the SEC.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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The Tax Identification Number (TIN), also known as an Employer Identification Number (EIN), is a unique 9-digit value assigned by the IRS.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b-2

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- Definition

Local phone number for entity.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 13e

-Subsection 4c

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14d

-Subsection 2b

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- Definition

Title of a 12(b) registered security.

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-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection b

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- Definition

Name of the Exchange on which a security is registered.

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Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 12

-Subsection d1-1

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Name:

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Data Type:

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Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as soliciting material pursuant to Rule 14a-12 under the Exchange Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Exchange Act

-Number 240

-Section 14a

-Subsection 12

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- Definition

Trading symbol of an instrument as listed on an exchange.

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No definition available.

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- Definition

Boolean flag that is true when the Form 8-K filing is intended to satisfy the filing obligation of the registrant as written communications pursuant to Rule 425 under the Securities Act.

+ References

Reference 1: http://www.xbrl.org/2003/role/presentationRef

-Publisher SEC

-Name Securities Act

-Number 230

-Section 425

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