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- **Record Order Growth**: 35% YoY orders driven by live events (81% YoY), HS Park & Rec (36% YoY), and international (22% YoY).
- **Profitability Boost**: 34% YoY cash flow expansion, $16.5M net income, and improved gross margins via value-based pricing.
- **Innovation Momentum**: New narrow pixel pitch displays and SaaS trials support 7-10% CAGR target.
- **Key Risks**: Tariff uncertainty, project timing variability, and M&A opportunities.
- **Upcoming Events**: Sidoti and Craig-Hallum conferences in Q4 FY2025, with FY2026 guidance for 7-10% CAGR and 10-12% operating margin target.

**【CEO Summary Section】**
- **Strong Fiscal Start**: Ended Q1 FY2026 with $136.9M cash and $360M backlog, up 35% YoY in orders driven by live events, HS Park & Rec, and international growth.
- **Revenue Mix & Margins**: 35% YoY order growth, 34% YoY cash flow expansion, and gross margin improvement via value-based pricing and cost control.
- **Product Innovation**: Launched new narrow pixel pitch and facia ribbon displays, with plans for LED street furniture and next-gen indoor video systems.
- **Digital Transformation**: Progress on SaaS trials, modernized service software, and ERP upgrades, supporting 7-10% CAGR target by FY2028.

**【CFO Financial Commentary】**
- **Financial Performance**: Q1 net income of $16.5M ($0.33 EPS), up from loss in Q1 FY2025. Orders at $239M (35% YoY growth), with 14-week profit tailwind.
- **Revenue & Margins**: Sequential revenue growth due to higher-margin HS Park & Rec segment. Gross margin benefited from mix and $6M tariff mitigation.
- **Cash & Liquidity**: $137M cash balance, $10.7M share buybacks, and 49% inventory-to-sales ratio. IT/product R&D spend of $17.2M supports future growth.
- **Balance Sheet**: No debt, $10M remaining under buyback program, and open to M&A opportunities.

**【Q&A Highlights】**
- **Live Events Pipeline**: Won 3/3 major sports projects, with focus on in-bowl and out-of-bowl expansion via narrow pixel pitch and facia ribbon products.
- **Gross Margin Sustainability**: Mix of high-margin segments and cost control driving margins, with caution on long-term project timing.
- **M&A & Capital Allocation**: Open to strategic acquisitions, with buyback flexibility as cash position allows.
- **Tariff Risk**: $6M Q1 tariff expense highlights ongoing China trade uncertainty, but agile supply chain management in place.

Daktronics, Inc. (DAKT) Q1 2026 Earnings Call Transcript

Revenue

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Financing Services Revenue

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Cost of Revenue

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