DAKT

EX-99.1

2 dakt-20260801x8kexx991.htm

EX-99.1

Document

Exhibit 99.1

Daktronics, Inc. Announces Fiscal 2027 First Quarter Results

Earnings per share of $0.40, up 21.2%, on 7.1% sales growth and 10.6% operating margin

Product backlog entering Q2 of $311 million, 6th consecutive quarter backlog exceeded $300 million

Quarter-end cash balance of $155 million

BROOKINGS, S.D., Sept. 2, 2026 – Daktronics, Inc. (NASDAQ: DAKT) (“Daktronics” or the “Company”), a recognized industry leader in digital display and control system technology, today reported results for its fiscal 2027 first quarter, ended August 1, 2026. The first quarter of fiscal 2027 reflects a 13-week reporting period, compared with a 14-week reporting period in the prior-year first quarter.

Fiscal 2027 Q1 Financial Highlights:

•Sales of $234.6 million, 7.1% growth from $219.0 million in the first quarter of fiscal 2026, despite one less week

•Operating income of $24.9 million, 7.2% growth from $23.3 million in the first quarter of fiscal 2026, operating margin of 10.6%

•Diluted earnings per share (“EPS”) of $0.40, up 21.2% from $0.33 in the first quarter of fiscal 2026, representing the highest quarterly diluted EPS in the past 12 quarters

•Operating cash flow of $31.4 million, compared to $26.1 million in the first quarter of fiscal 2026, resulting in period-end cash balance of $154.6 million net of $4.4 million share repurchases

•New orders(1) for products and services of $191.8 million, compared to $238.5 million in the first quarter of fiscal 2026, reflecting the timing of a few substantial orders expected to be booked in the second quarter of fiscal 2027

•Product backlog(1) of $311.3 million for the quarter, compared to $360.3 million at the end of the first quarter of fiscal 2026, marking the sixth consecutive quarter-end with product backlog(1) exceeding $300 million

Ramesh Jayaraman, Daktronics’ President and Chief Executive Officer, said, “Fiscal 2027 began on a strong note as we continued to drive momentum in sales, operating income, and EPS, maintaining our focus on executing the growth and operational excellence initiatives laid out in our long-term plan. During Q1, we continued to advance our strategic priorities, strengthen customer engagement across our core markets, and build upon a healthy sales pipeline. We delivered 21.2 percent year-over-year increase in EPS on 7.1 percent sales growth and operating margin of 10.6 percent, reflecting the ongoing, successful execution of our planned business growth and operational excellence initiatives.”

Tracking to Three-Year Plan

The Company continued to execute across its growth, operational excellence, and capital deployment pillars in support of its fiscal 2028 targets. Progress during the quarter included the following strategic initiatives.

Growth. Core markets and the sales pipeline remained strong during the quarter. The Company advanced targeted vertical market expansion initiatives and invested in software and service offerings that enhance customer value and support recurring revenue growth. A diversified product backlog(1) of $311.3 million reflects continued demand across key business segments.

(1) Orders and backlog metrics are operating measures not defined by GAAP, and our methodology for determining orders and backlog may vary from the methodology used by other companies in determining their orders and backlog amounts. For more information related to backlog, see Part I, Item 1. “Business” of our Annual Report on Form 10-K for the fiscal year ended May 2, 2026.

Operational Excellence. Manufacturing and supply chain initiatives improved efficiency, increased flexibility, and supported long-term margin expansion. Key initiatives included the ramp-up of manufacturing operations in Mexico, procurement optimization efforts, automation investments, and ongoing lean simplification initiatives across the supply chain.

Capital Deployment. Capital allocation remained focused on long-term value creation through investments in plant network improvements and automation designed to enhance operational efficiency and support future growth. The Company also continued returning capital to shareholders through share repurchases, including $4.4 million executed during the first quarter.

“Supported by the execution of our strategic initiatives, our pipeline remains robust. At the same time, our operational improvements are making us leaner and smarter every quarter,” said Mr. Jayaraman. “We also continue to evaluate acquisition and disciplined capital deployment opportunities in complementary products/solutions, verticals, and geographies that can enhance our organic growth strategy. We are tracking well toward our fiscal 2028 targets of 7-10% revenue CAGR, 10-12% operating margin, and 17-20% ROIC. None of this would be possible without the trust of our customers and the dedication of our team, and I am grateful for both.”

First Quarter Results

“Top line growth was solid again

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dakt-20260304FALSE000091577900009157792026-03-042026-03-04

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): March 4, 2026

Daktronics, Inc. (Exact Name of Registrant as Specified in Charter)

Delaware 001-38747 46-0306862

(State or Other Jurisdiction of Incorporation) (Commission File Number) (I.R.S. Employer Identification No.)

201 Daktronics Drive Brookings, SD 57006 (Address of Principal Executive Offices, and Zip Code) (605) 692-0200 (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:

☐ 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, $0.00001 Par Value

DAKT

Nasdaq Global Select Market

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (17 CFR §230.405) or Rule 12b-2 of the Securities Exchange Act of 1934 (17 CFR §240.12b-2). 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. ☐

Section 2 - Financial Information Item 2.02    Results of Operations and Financial Condition. On March 4, 2026, Daktronics Inc. (the “Company”) issued a press release announcing its financial results for the fiscal quarter ended January 31, 2026 (the “Press Release”). A copy of the Press Release is furnished with this Current Report on Form 8-K (this “Report”) as Exhibit 99.1 and is incorporated herein by reference. The information in this Report, including the Press Release, is being furnished and shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise be subject to liability under that section, nor shall such information be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, regardless of any general incorporation language in such filing, except as shall be expressly set forth by specific reference in such filing.

Section 9 – Financial Statements and Exhibits Item 9.01    Financial Statements and Exhibits: (d)Exhibits. The following exhibit is furnished as part of this Report:

Exhibit No. Description

99.1 Press Release dated March 4, 2026, issued by Daktronics, Inc. regarding third quarter fiscal 2026 results.

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.

DAKTRONICS, INC.

By: /s/ Howard I. Atkins

Howard I. Atkins

Acting Chief Financial Officer

(Principal Financial Officer and Principal Accounting Officer)

Date: March 4, 2026