Announcement • Jul 29
Daktronics, Inc., Annual General Meeting, Sep 16, 2026 Daktronics, Inc., Annual General Meeting, Sep 16, 2026. Location: 201 daktronics drive, south dakota 57006, brookings United States Reported Earnings • Jun 25
Full year 2026 earnings released: EPS: US$0.93 (vs US$0.21 loss in FY 2025) Full year 2026 results: EPS: US$0.93 (up from US$0.21 loss in FY 2025). Revenue: US$838.7m (up 11% from FY 2025). Net income: US$45.4m (up US$55.5m from FY 2025). Profit margin: 5.4% (up from net loss in FY 2025). The move to profitability was driven by higher revenue. Revenue is forecast to grow 7.5% p.a. on average during the next 2 years, compared to a 9.7% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has fallen by 18% per year but the company’s share price has increased by 45% per year, which means it is well ahead of earnings. Announcement • Jun 12
Daktronics, Inc. to Report Q4, 2026 Results on Jun 24, 2026 Daktronics, Inc. announced that they will report Q4, 2026 results Pre-Market on Jun 24, 2026 Announcement • Feb 24
Daktronics, Inc. to Report Q3, 2026 Results on Mar 04, 2026 Daktronics, Inc. announced that they will report Q3, 2026 results Pre-Market on Mar 04, 2026 Announcement • Feb 21
Daktronics, Inc. Appoints Bradley T. Wiemann as Executive Vice President - Advisor to the CEO On February 16, 2026, the Board of Directors of Daktronics, Inc. (Company) authorized the company to enter into an Amended and Restated Termination Agreement and General Release of Claims, effective as of February 1, 2026 (Effective date), with Bradley T. Wiemann, the former Interim President and Chief Executive Officer (CEO) of the Company (Amended agreement). As previously disclosed, Mr. Wiemann’s service as Interim President and CEO of the Company ended on the Effective Date. Pursuant to the Amended Agreement, Mr. Wiemann will serve as Executive Vice President - Advisor to the CEO on an at-will basis from the Effective Date until not later than September 5, 2026. Announcement • Jan 22
Daktronics, Inc. Announces Cessation of Carla S. Gatzke as Corporate Secretary ,Effective January 31, 2026 Daktronics, Inc. announced that On January 20, 2026, the Board of Directors authorized the Company to enter into a Separation and Release Agreement (the “ Separation Agreement ”) with Carla S. Gatzke pursuant to which Ms. Gatzke will cease to serve as Corporate Secretary and Vice President of Human Resources of the Company, effective as of January 31, 2026 (the “ Separation Date ”). Pursuant to the Separation Agreement, so long as Ms. Gatzke does not revoke her acceptance of the Separation Agreement within the time provided to do so and satisfies the other terms and conditions of the Separation Agreement (including compliance with certain restrictive covenants). Announcement • Dec 02
Daktronics, Inc. to Report Q2, 2026 Results on Dec 10, 2025 Daktronics, Inc. announced that they will report Q2, 2026 results Pre-Market on Dec 10, 2025 Announcement • Sep 02
Daktronics, Inc. to Report Q1, 2026 Results on Sep 10, 2025 Daktronics, Inc. announced that they will report Q1, 2026 results Pre-Market on Sep 10, 2025 Announcement • Aug 15
Daktronics, Inc., Annual General Meeting, Sep 03, 2025 Daktronics, Inc., Annual General Meeting, Sep 03, 2025. Location: 201daktronics drive, south dakota 57006, brookings United States Announcement • Aug 14
Daktronics, Inc. Not Nominate Kevin McDermott for Re-Election to Board Daktronics, Inc. announced pursuant to the Cooperation Agreement with Alta Fox Capital Management dated March 3, 2025, the Company was required to refrain from nominating at least one current director whose term expires at the 2025 Annual Shareholder Meeting to be held on September 3, 2025. As such, the board did not nominate Kevin McDermott for re-election to the Board. Mr. McDermott has served as a Director of the Company since 2015, Chair of the Audit Committee Chair since 2016, Lead Director from 2020 through 2023, and on the Nominating and Governance Committee since 2024. Announcement • Jun 10
Daktronics, Inc. to Report Q4, 2025 Results on Jun 25, 2025 Daktronics, Inc. announced that they will report Q4, 2025 results Pre-Market on Jun 25, 2025 Announcement • Mar 07
Daktronics, Inc. Announces Chief Executive Officer Changes Daktronics announced that Mr. Reece Kurtenbach is stepping down from his roles as CEO of the Company, effective at close of business on March 5, 2025. Mr. Kurtenbach will remain involved with the business in an advisory role supporting Daktronics’ digital transformation plan. The Board will engage a nationally recognized executive search firm to help identify a permanent Chief Executive Officer. While this process continues, the Board has appointed Brad Wiemann, the Company’s Executive Vice President, as Interim President and CEO. Mr. Wiemann has been with Daktronics since 1993. He has served in a variety of roles at the Company across manufacturing, engineering, product development and other functions. In his current role, he oversees the Company’s Commercial and High Schools & Parks and Recreation business units. He has played a key role in standardizing products to simplify engineering and manufacturing for outdoor products, such as billboards and message centers, as well as developing Daktronics’ sales and service channels. Announcement • Mar 04
Daktronics, Inc. and Alta Fox Enter into Cooperation Agreement, Pursuant to Which Appoints Peter Feigin as Independent Member of Board of Directors Daktronics, Inc. announced it has entered into a cooperation agreement with Alta Fox Capital Management, LLC, which is the Company’s largest shareholder. Pursuant to the Cooperation Agreement, the Company will appoint Peter Feigin, an Alta Fox-recommended candidate, as a new independent member of its Board of Directors. Mr. Feigin will immediately join the Board’s Transformation Committee. He currently serves as the President of Milwaukee Bucks Inc. (the “Bucks”) and the Fiserv Forum sports arena, brings more than 25 years of sales and marketing experience, including as Chief Marketing and Revenue Officer of Deluxe Entertainment Services Group, an international entertainment company. Announcement • Feb 19
Daktronics, Inc. to Report Q3, 2025 Results on Mar 05, 2025 Daktronics, Inc. announced that they will report Q3, 2025 results Pre-Market on Mar 05, 2025 Announcement • Feb 05
Alta Fox Files Federal Lawsuit to Stop Daktronics’ Reactionary Entrenchment Maneuver On February 5, 2025, Alta Fox Capital Management LLC announced that it has filed a federal lawsuit against Daktronics Inc and its CEO, Reece A. Kurtenbach, to stop the company’s reincorporation from South Dakota to Delaware. Alta Fox stated that Company’s proposal aims to eliminate cumulative voting, which it believes is a tactic to protect underperforming directors, it argues that the proposal is a reaction to their plan to nominate new directors and calls for immediate declassification of the board. In addition, Alta Fox highlights Company’s poor governance practices, including staggered director elections, a poison pill, and a combined Chair and CEO role and plans to solicit shareholder votes against the reincorporation proposal at the upcoming special meeting. Announcement • Dec 18
Breach Inlet Capital Issues Public Letter to Board of Daktronics On December 17, 2024, Breach Inlet Capital LP announced that it has issued a public letter to the Board of Directors of Daktronics Inc, stating that it supports Alta Fox’s recommendations and urges the Board to act in the best interests of all shareholders, the Board’s response to Alta Fox’s recommendations is seen as inadequate and dismissive, and criticizes the Board for delays in hiring a new CFO and for vague financial targets. In addition, Breach Inlet Capital stated that it proposed Glen Herrick as a Board nominee, but he was not seriously considered, and raised it concerns about significant stock sales by current management, questioning their confidence in the company’s future. Further, Breach Inlet Capital recommended the changes to be implemented immediately to 1) declassify the Board, 2) reconstitute the Board with at least four shareholder-nominated directors, 3) separate the CEO and Chairman roles, while naming a shareholder-nominated director as the new Chairman, 4) with the involvement of shareholder-nominated directors, attract a CFO with a proven track record in operational excellence and capital allocation, 5) issue annual guidance, which should provide specific ranges for Revenue, EBIT and adjusted EPS, 6) issue three-year targets, which should include the expected specific benefits from spending ~$10 million on consultants and the Digital Transformation, 7) restructure executive compensation, which should include a greater mix of stock compensation and more stringent/updated criteria, 8) restructure the salesforce compensation, which should be more heavily weighted towards commissions and incentivizing outbound sales, 9) with the refreshed Board and new CFO, develop and communicate a clear capital allocation plan, 10) remove the poison pill. Breach Inlet Capital stated that it plans to continue to make its voice heard to ensure the Board grasps the severity of the situation and the need to act in the best interests of all shareholders. Announcement • Dec 14
Alta Fox Releases Presentation on Daktronics Delivered at Bloomberg Activism Forum 2024 On December 11, 2024, Alta Fox Capital Management, released a presentation detailing a clear path to unlocking the full potential of Daktronics, Inc. The presentation, a similar version of which was delivered by Alta Fox Founder and Managing Partner Connor Haley at the Bloomberg Activism Forum 2024, exposes how poor governance and a private family business mentality have driven massive underperformance for shareholders. Alta Fox outlines a clear path to ~$40 per share and ~100% upside through governance reforms, board refreshment, and operational excellence. Alta Fox plans to nominate highly qualified, independent director candidates for election to the Company’s Board. Visit www.FixDaktronics.com to view the presentation. Announcement • Dec 03
Alta Fox Capital Engages in Discussion with Daktronics On December 2, 2024, Alta Fox Capital Management, LLC has engaged, and intends to continue to engage, in discussions with management and the Board of Daktronics, Inc. regarding opportunities to unlock value at the Company, including changes to Board composition and improvements to the Company’s corporate governance. Announcement • Nov 21
Daktronics, Inc. to Report Q2, 2025 Results on Dec 04, 2024 Daktronics, Inc. announced that they will report Q2, 2025 results Pre-Market on Dec 04, 2024 Valuation Update With 7 Day Price Move • Nov 12
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to €13.90, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 13x in the Electronic industry in Germany. Total returns to shareholders of 213% over the past three years. Announcement • Oct 23
Daktronics, Inc. Appoints Sheila Anderson as Chief Data and Analytics Officer Daktronics, Inc. announced that Sheila Anderson, who has served as the company's CFO since 2012, has been appointed to the newly created position of Chief Data and Analytics Officer to support and accelerate the Companys digital transformation. Ms. Anderson will continue to serve in her role as CFO until her successor is identified. Recent Insider Transactions • Oct 02
Executive Vice President of Commercial recently sold €289k worth of stock On the 27th of September, Bradley Wiemann sold around 25k shares on-market at roughly €11.55 per share. This transaction amounted to 23% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €591k more than they bought in the last 12 months. Reported Earnings • Sep 06
First quarter 2025 earnings released: US$0.11 loss per share (vs US$0.42 profit in 1Q 2024) First quarter 2025 results: US$0.11 loss per share (down from US$0.42 profit in 1Q 2024). Revenue: US$226.1m (down 2.8% from 1Q 2024). Net loss: US$4.95m (down 126% from profit in 1Q 2024). Revenue is forecast to grow 3.7% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 71% per year but the company’s share price has only increased by 34% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Sep 05
Investor sentiment deteriorates as stock falls 17% After last week's 17% share price decline to €11.10, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 16x in the Electronic industry in Germany. Total returns to shareholders of 136% over the past three years. Announcement • Aug 29
Daktronics, Inc., Annual General Meeting, Sep 04, 2024 Daktronics, Inc., Annual General Meeting, Sep 04, 2024. Announcement • Aug 23
Daktronics, Inc. to Report Q1, 2025 Results on Sep 04, 2024 Daktronics, Inc. announced that they will report Q1, 2025 results Pre-Market on Sep 04, 2024 Recent Insider Transactions • Jul 12
Executive Vice President of Commercial recently sold €278k worth of stock On the 10th of July, Bradley Wiemann sold around 22k shares on-market at roughly €12.63 per share. This transaction amounted to 17% of their direct individual holding at the time of the trade. This was the largest sale by an insider in the last 3 months. This was the only on-market transaction from insiders over the last 12 months. Reported Earnings • Jun 27
Full year 2024 earnings released: EPS: US$0.75 (vs US$0.15 in FY 2023) Full year 2024 results: EPS: US$0.75 (up from US$0.15 in FY 2023). Revenue: US$818.1m (up 8.5% from FY 2023). Net income: US$34.6m (up 409% from FY 2023). Profit margin: 4.2% (up from 0.9% in FY 2023). The increase in margin was driven by higher revenue. Revenue is forecast to grow 3.5% p.a. on average during the next 2 years, compared to a 11% growth forecast for the Electronic industry in Germany. Over the last 3 years on average, earnings per share has increased by 72% per year but the company’s share price has only increased by 32% per year, which means it is significantly lagging earnings growth. Valuation Update With 7 Day Price Move • Jun 27
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €12.90, the stock trades at a forward P/E ratio of 16x. Average forward P/E is 15x in the Electronic industry in Germany. Total returns to shareholders of 135% over the past three years. Announcement • Jun 21
Daktronics, Inc. to Report Q4, 2024 Results on Jun 26, 2024 Daktronics, Inc. announced that they will report Q4, 2024 results Pre-Market on Jun 26, 2024 Announcement • Feb 29
Daktronics, Inc. Provides Earnings Guidance for Fiscal Fourth Quarter 2024 Daktronics, Inc. provided earnings guidance for Fiscal fourth quarter 2024. For the period, seasonality is expected to be similar to pre-pandemic patterns. Fiscal 2024 fourth quarter net sales are expected to increase sequentially as compared to the third quarter in fiscal year 2024 and decrease from the year-ago period, which was again a high-volume period in which were fulfilling backorders related to pandemic recovery. Reported Earnings • Feb 29
Third quarter 2024 earnings released: EPS: US$0.23 (vs US$0.082 in 3Q 2023) Third quarter 2024 results: EPS: US$0.23 (up from US$0.082 in 3Q 2023). Revenue: US$170.3m (down 7.9% from 3Q 2023). Net income: US$10.7m (up 189% from 3Q 2023). Profit margin: 6.3% (up from 2.0% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 61% per year but the company’s share price has only increased by 16% per year, which means it is significantly lagging earnings growth. Announcement • Feb 21
Daktronics, Inc. to Report Q3, 2024 Results on Feb 28, 2024 Daktronics, Inc. announced that they will report Q3, 2024 results Pre-Market on Feb 28, 2024 New Risk • Jan 28
New major risk - Share price stability The company's share price has been highly volatile over the past 3 months. It is more volatile than 90% of German stocks, typically moving 10% a week. This is considered a major risk. Share price volatility increases the risk of potential losses in the short-term as the stock tends to have larger drops in price more frequently than other stocks. It may also indicate the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. This is currently the only risk that has been identified for the company. Reported Earnings • Dec 07
Second quarter 2024 earnings released: EPS: US$0.047 (vs US$0.29 loss in 2Q 2023) Second quarter 2024 results: EPS: US$0.047 (up from US$0.29 loss in 2Q 2023). Revenue: US$199.4m (up 6.4% from 2Q 2023). Net income: US$2.17m (up US$15.1m from 2Q 2023). Profit margin: 1.1% (up from net loss in 2Q 2023). The move to profitability was primarily driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 29% per year, which means it is significantly lagging earnings growth. Announcement • Dec 05
Daktronics, Inc. Announces Directors Appointment Daktronics, Inc. announced the appointment of Andrew Siegel as Lead Independent Director, succeeding Kevin McDermott who has served as Lead Director since June 2020. Andrew Siegel joined the Board in July 2022 part of the Company’s ongoing Board refreshment process. He currently manages Prairieland Holdco LLC, which entered into a Cooperation Agreement with the Company at that time, and co-manages, with Lawrence B. Benenson, TLI Bedrock, LLC, a private multi-strategy investment firm. Announcement • Nov 28
Daktronics, Inc. to Report Q2, 2024 Results on Dec 05, 2023 Daktronics, Inc. announced that they will report Q2, 2024 results Pre-Market on Dec 05, 2023 Announcement • Sep 08
Daktronics, Inc. announced delayed 10-Q filing On 09/07/2023, Daktronics, Inc. announced that they will be unable to file their next 10-Q by the deadline required by the SEC. Reported Earnings • Sep 07
First quarter 2024 earnings released: EPS: US$0.42 (vs US$0.12 loss in 1Q 2023) First quarter 2024 results: EPS: US$0.42 (up from US$0.12 loss in 1Q 2023). Revenue: US$232.5m (up 35% from 1Q 2023). Net income: US$19.2m (up US$24.5m from 1Q 2023). Profit margin: 8.3% (up from net loss in 1Q 2023). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 3% per year but the company’s share price has increased by 30% per year, which means it is well ahead of earnings. Announcement • Sep 02
Daktronics, Inc. to Report Q1, 2024 Results on Sep 06, 2023 Daktronics, Inc. announced that they will report Q1, 2024 results Pre-Market on Sep 06, 2023 Announcement • Jul 29
Daktronics, Inc., Annual General Meeting, Sep 06, 2023 Daktronics, Inc., Annual General Meeting, Sep 06, 2023, at 16:30 Central Standard Time. Location: 201 Daktronics Drive Brookings South Dakota United States Agenda: To elect two Directors to serve for a three-year term that expires on the date of the Annual Meeting of Shareholders in 2026 or until his or her successor is duly elected and qualified and to elect one Director to serve for a two-year term that expires on the date of the Annual Meeting of Shareholders in 2025 or until his successor is duly elected and qualified; to approve, on an advisory (non-binding) basis, the Company's compensation of its named executive officers; to ratify the appointment of Deloitte & Touche, LLP as the Company's independent registered public accounting firm for the Company for fiscal 2024; and to ratify, on an advisory (non-binding) basis, amendments to the Company's bylaws. Valuation Update With 7 Day Price Move • Jul 19
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €5.95, the stock trades at a trailing P/E ratio of 44.3x. Average trailing P/E is 20x in the Electronic industry in Germany. Total returns to shareholders of 63% over the past three years. Reported Earnings • Jul 13
Full year 2023 earnings released: EPS: US$0.15 (vs US$0.013 in FY 2022) Full year 2023 results: EPS: US$0.15 (up from US$0.013 in FY 2022). Revenue: US$754.2m (up 23% from FY 2022). Net income: US$6.80m (up US$6.21m from FY 2022). Profit margin: 0.9% (up from 0.1% in FY 2022). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Announcement • Jul 12
Daktronics, Inc. to Report Q4, 2023 Results on Jul 12, 2023 Daktronics, Inc. announced that they will report Q4, 2023 results Pre-Market on Jul 12, 2023 Announcement • May 12
Daktronics, Inc. announced that it has received $25 million in funding from Alta Fox Capital Management LLC Daktronics, Inc. entered into a securities purchase agreement for the private placement of senior secured convertible notes for gross proceeds of $25,000,000 on May 11, 2023. The transaction included participation from new investor, Alta Fox Opportunities Fund, LP, a fund managed by, Alta Fox Capital Management LLC. The convertible notes are convertible into shares of the company’s common shares, no par value, subject to certain conditions and limitations. Reported Earnings • Mar 09
Third quarter 2023 earnings released: EPS: US$0.082 (vs US$0.096 loss in 3Q 2022) Third quarter 2023 results: EPS: US$0.082 (up from US$0.096 loss in 3Q 2022). Revenue: US$185.0m (up 33% from 3Q 2022). Net income: US$3.71m (up US$8.06m from 3Q 2022). Profit margin: 2.0% (up from net loss in 3Q 2022). Over the last 3 years on average, earnings per share has fallen by 61% per year but the company’s share price has only fallen by 3% per year, which means it has not declined as severely as earnings. Board Change • Mar 07
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Director Howard Atkins was the last director to join the board, commencing their role in 2022. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Feb 15
The Portnoy Law Firm Files Lawsuit Against Daktronics, Inc. on Behalf of Investors The Portnoy Law Firm filed lawsuit against Daktronics, Inc. on behalf of investors that purchased securities between March 10, 2022 and December 6, 2022. On December 6, 2022, Daktronics disclosed that it would be unable to timely file its Quarterly Report on Form 10-Q for the period ended October 29, 2022, and that there is "substantial doubt" about the Company's ability to continue as a going concern. Daktronics also disclosed that it recorded a valuation allowance of approximately $13.0 million for deferred tax assets which "created a covenant violation under line of credit agreement." The Company further disclosed that "[i]n light of the substantial doubt in ability to continue as a going concern and related evaluation of the income tax implications of reaching this conclusion, the Company also expects to conclude that its disclosure controls and procedures and internal control over financial reporting were not effective as a result of material weaknesses." On this news, Daktronics' stock price fell $1.30 per share, or 39.16%, to close at $2.02 per share on December 7, 2022. Announcement • Jan 27
Alta Fox Sends a Letter to Daktronics’ Independent Committee On January 26, 2023, Alta Fox Capital announced that it issued a press release and public letter to the independent members of Daktronics, Inc’s Board of Directors, which, among other things, expressed its disappointment that the Board’s Strategy and Financing Review Committee is not taking decisive action to address deep-rooted issues related to the Company’s corporate governance, undermanagement team and value creation efforts. Alta Fox Capital stated that it has engaged, and intends to continue to engage, in discussions with management and the Board of the Company regarding opportunities to unlock value at the Company, including changes to Board composition. Announcement • Dec 30
The Law Offices of Frank R. Cruz Announces the Filing of a Securities Class Action on Behalf of Daktronics, Inc. (DAKT) Investors The Law Offices of Frank R. Cruz announces that a class action lawsuit has been filed on behalf of persons and entities that purchased or otherwise acquired Daktronics, Inc. securities between March 10, 2022 and December 6, 2022, inclusive (the “Class Period”). Daktronics investors have until February 21, 2023 to file a lead plaintiff motion. On August 31, 2022, Daktronics issued a press release announcing its first quarter 2023 results. Therein, the company reported that it experienced “multiple material supply chain disruptions, labor shortages, and a shutdown of facilities in Shanghai, China for a significant portion of the quarter.” The Company also reported that gross profit as a percentage of Net Sales were 15%, which was lower compared to 22% a year earlier. Operating expenses were $31.3 million, compared to $26.5 million a year earlier. And operating margin for the first quarter of fiscal 2023 was negative 3.2%, compared to positive 3.9% for the first quarter of fiscal 2022. The complaint filed in this class action alleges that throughout the Class Period, Defendants made materially false and/or misleading statements, as well as failed to disclose material adverse facts about the Company’s business, operations, and prospects. Specifically, Defendants failed to disclose to investors: (1) that the Company was experiencing challenges that increased costs, including supply chain disruptions, that impacted Daktronics’ ability to fund inventory levels and operations; (2) that, as a result, it was probable that some portion of the Company’s deferred tax assets would not be realized; (3) that as a result, Daktronics was reasonably likely to record a material valuation allowance to its deferred tax assets; (4) that there were material weaknesses in the Company’s internal controls over financial reporting related to income taxes; (5) that the foregoing presented liquidity concerns and there was substantial doubt as to the Company’s ability to continue as a going concern; (6) as a result, Defendants’ statements about its business, operations, and prospects were materially false and misleading and/or lacked reasonable basis at all relevant times. Announcement • Dec 22
Glancy Prongay & Murray LLP Files Securities Fraud Lawsuit Against Daktronics, Inc Glancy Prongay & Murray LLP (“GPM”) announces that it has filed a class action lawsuit in the United States District Court for the Southern District of New York, captioned Settles v. Daktronics, Inc., et al., Case No. 1:22-cv-10793, on behalf of persons and entities that purchased or otherwise acquired Daktronics, Inc. securities between March 10, 2022 and December 6, 2022, inclusive (the “Class Period”). Plaintiff pursues claims under Sections 10(b) and 20(a) of the Securities Exchange Act of 1934 (the “Exchange Act”). On August 31, 2022, Daktronics issued a release announcing its first quarter 2023 results. Therein, the company reported that it experienced “multiple material supply chain disruptions, labor shortages, and a shutdown of facilities in Shanghai, China for a significant portion of the quarter.” The Company also reported that gross profit as a percentage of net sales were 15%, which was lower compared to 22% a year earlier. Operating expenses were $31.3 million, compared to $26.5 million a year earlier. And operating margin for the first quarter of fiscal 2023 was negative3.2%, compared to positive 3.9% for the first quarter of fiscal 2022. Announcement • Nov 29
Daktronics, Inc. to Report Q2, 2023 Results on Dec 07, 2022 Daktronics, Inc. announced that they will report Q2, 2023 results Pre-Market on Dec 07, 2022 Recent Insider Transactions • Oct 18
Insider recently bought €72k worth of stock On the 12th of October, Bradley Wiemann bought around 25k shares on-market at roughly €2.87 per share. This transaction amounted to 24% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €303k more in shares than they have sold in the last 12 months. Recent Insider Transactions • Sep 28
Independent Director recently bought €68k worth of stock On the 20th of September, Andrew Siegel bought around 23k shares on-market at roughly €2.92 per share. This transaction amounted to 1.8% of their direct individual holding at the time of the trade. This was the largest purchase by an insider in the last 3 months. Insiders have collectively bought €231k more in shares than they have sold in the last 12 months. Announcement • Sep 10
Daktronics, Inc. Appoints Andrew Siegel as Director Daktronics, Inc. announced that at the AGM held on September 7, 2022 elected Andrew Siegel as director to serve a three-year term that expires on the date of the Annual Meeting of Shareholders in 2025 or until his or her successor is duly elected. Announcement • Sep 08
Daktronics, Inc. Announces Executive Changes Daktronics, Inc. announced the retirement of James Morgan from the Board of Directors at the end of his current term, effective September 7, 2022. He has been a Director of the Company since 1984 and has served on the Nominating and Corporate Governance Committee since October 2016, including as its Chair since June 2020, and on the Audit Committee from 2016 to 2021. He also served as the Company's President and Chief Executive Officer from 2001 through his retirement from those positions effective on September 1, 2013. Prior to that, he served as the Company's President and Chief Operating Officer and Vice President of Engineering. He originally joined the Company in 1969. Director Lance Bultena has been named the chairperson of the Nominating and Corporate Governance Committee. Reported Earnings • Sep 01
First quarter 2023 earnings released: US$0.12 loss per share (vs US$0.082 profit in 1Q 2022) First quarter 2023 results: US$0.12 loss per share (down from US$0.082 profit in 1Q 2022). Revenue: US$171.9m (up 19% from 1Q 2022). Net loss: US$5.33m (down 244% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • Aug 09
Daktronics, Inc., Annual General Meeting, Sep 07, 2022 Daktronics, Inc., Annual General Meeting, Sep 07, 2022, at 16:30 Central Daylight. Location: 201 daktronics drive Brookings South Dakota United States Agenda: To consider and elect two Directors to serve for a three-year term that expires on the date of the Annual Meeting of Shareholders in 2025 or until his successor is duly elected and qualified; to approve, on an advisory (non-binding) basis, of the Company's executive compensation; to consider and ratify the appointment of Deloitte & Touche, LLP as the Company's independent registered public accounting firm for the Company for fiscal 2023; to consider and approve an amendment to our Employee Stock Purchase Plan; and to approve our shareholder Rights Agreement. Announcement • Jul 30
Daktronics, Inc. Announces Resignation of James Morgan from the Board of Directors and Nominating and Corporate Governance Committee as Its Chair and on the Audit Committee On July 28, 2022, the Board of Directors of Daktronics Inc. received notice that James Morgan is retiring from the Board of Directors effective September 7, 2022. Mr. Morgan has served as a Director of the Company since 1984 and has served on the Nominating and Corporate Governance Committee since October 2016, including as its Chair since June 2020, and on the Audit Committee from 2016 to 2021. He also served as the Company's President and Chief Executive Officer from 2001 through his retirement from those positions effective on September 1, 2013. Prior to that, he served as the Company's President and Chief Operating Officer and Vice President of Engineering. He originally joined the Company in 1969. Announcement • Jul 28
Daktronics, Inc. Appoints Andrew Siegel as Board of Director Daktronics, Inc. changes to its Board of Directors as part of its ongoing Board refreshment process and that it has entered into a Cooperation Agreement with Daktronics shareholder Prairieland Holdco, LLC (Prairieland) and its affiliates, including Andrew Siegel (collectively, the Prairieland Group). Pursuant to the Cooperation Agreement, the Company has agreed to nominate Mr. Siegel to the Board for election at the Company's 2022 Annual Meeting of Shareholders (the Annual Meeting). Following the Annual Meeting, the Board will expand from seven to eight directors, and an additional director mutually agreed upon by Daktronics and the Prairieland Group will be added to the Board. Reported Earnings • Jun 09
Full year 2022 earnings released: EPS: US$0.013 (vs US$0.24 in FY 2021) Full year 2022 results: EPS: US$0.013 (down from US$0.24 in FY 2021). Revenue: US$611.0m (up 27% from FY 2021). Net income: US$592.0k (down 95% from FY 2021). Profit margin: 0.1% (down from 2.3% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 62% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Announcement • May 26
Daktronics, Inc. to Report Q4, 2022 Results on Jun 08, 2022 Daktronics, Inc. announced that they will report Q4, 2022 results Pre-Market on Jun 08, 2022 Reported Earnings • Mar 12
Third quarter 2022 earnings: EPS in line with expectations, revenues disappoint Third quarter 2022 results: US$0.096 loss per share (down from US$0.005 loss in 3Q 2021). Revenue: US$139.6m (up 48% from 3Q 2021). Net loss: US$4.35m (loss widened US$4.14m from 3Q 2021). Revenue missed analyst estimates by 2.4%. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Announcement • Dec 03
Daktronics, Inc. Provides Sales Guidance for the Third Quarter of 2021 Daktronics, Inc. provided sales guidance for the third quarter of 2021. The company expected sales for the third quarter of fiscal 2022 to increase over last year's third quarter due to that record product backlog but, of course, sales could change, pending project bookings, customer schedule changes and the availability of plants and material capacity. Reported Earnings • Dec 02
Second quarter 2022 earnings: EPS in line with expectations, revenues disappoint Second quarter 2022 results: EPS: US$0.27 (up from US$0.076 in 2Q 2021). Revenue: US$329.0m (up 158% from 2Q 2021). Net income: US$12.0m (up 251% from 2Q 2021). Profit margin: 3.6% (up from 2.7% in 2Q 2021). Revenue missed analyst estimates by 2.4%. Over the last 3 years on average, earnings per share has increased by 36% per year but the company’s share price has fallen by 16% per year, which means it is significantly lagging earnings. Executive Departure • Sep 07
Independent Director Byron Anderson has left the company On the 1st of September, Byron Anderson's tenure as Independent Director ended. As of June 2021, Byron still personally held 62.15k shares (€342k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 9.25 years. Executive Departure • Sep 07
Independent Director Robert Dutcher has left the company On the 1st of September, Robert Dutcher's tenure as Independent Director ended. As of June 2021, Robert still personally held 70.98k shares (€390k worth at the time). A total of 2 executives have left over the last 12 months. The current median tenure of the management team is 9.25 years. Reported Earnings • Sep 03
First quarter 2022 earnings released: EPS US$0.082 (vs US$0.17 in 1Q 2021) The company reported a poor first quarter result with weaker earnings and profit margins, although revenues were flat. First quarter 2022 results: Revenue: US$144.7m (flat on 1Q 2021). Net income: US$3.69m (down 51% from 1Q 2021). Profit margin: 2.5% (down from 5.2% in 1Q 2021). Over the last 3 years on average, earnings per share has increased by 40% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Recent Insider Transactions • Jun 24
Vice President of Manufacturing recently sold €59k worth of stock On the 17th of June, Matthew Kurtenbach sold around 10k shares on-market at roughly €5.88 per share. This was the largest sale by an insider in the last 3 months. Insiders have been net sellers, collectively disposing of €23k more than they bought in the last 12 months. Reported Earnings • Jun 11
Full year 2021 earnings released: EPS US$0.24 (vs US$0.011 in FY 2020) The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2021 results: Revenue: US$482.0m (down 21% from FY 2020). Net income: US$10.9m (up US$10.4m from FY 2020). Profit margin: 2.3% (up from 0.1% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 12% per year but the company’s share price has fallen by 7% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 10
Investor sentiment improved over the past week After last week's 17% share price gain to US$5.50, the stock is trading at a trailing P/E ratio of 30.4x, up from the previous P/E ratio of 26.1x. This compares to an average P/E of 32x in the Electronic industry in Germany. Total return to shareholders over the past three years is a loss of 20%. Reported Earnings • Mar 05
Third quarter 2021 earnings released: US$0.005 loss per share (vs US$0.28 loss in 3Q 2020) The company reported a decent third quarter result with reduced losses and improved control over expenses, although revenues were weaker. Third quarter 2021 results: Revenue: US$94.1m (down 26% from 3Q 2020). Net loss: US$214.0k (loss narrowed 98% from 3Q 2020). Over the last 3 years on average, earnings per share has fallen by 48% per year but the company’s share price has only fallen by 13% per year, which means it has not declined as severely as earnings. Analyst Estimate Surprise Post Earnings • Mar 05
Revenue misses expectations Revenue missed analyst estimates by 22%. Over the next year, revenue is forecast to grow 8.1%, compared to a 17% growth forecast for the Electronic industry in Germany. Is New 90 Day High Low • Feb 11
New 90-day high: €4.48 The company is up 24% from its price of €3.60 on 13 November 2020. The German market is up 10.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Electronic industry, which is up 20% over the same period. Announcement • Jan 29
Daktronics Partners with Phoenix Suns for Venue-Wide LED Super System Daktronics has partnered with the Phoenix Suns to manufacture and install an 18-display LED super system totaling 55.1 million LEDs, including a new centerhung configuration as well as lobby, ribbon, tunnel, scorer’s table and locker room displays. The installation was completed in 2020 and in use as basketball is played at Phoenix Suns Arena in Arizona. The centerhung, which is six times larger than its predecessor, features four LED video displays, two facing the sidelines and two facing the ends of the arena. The sideline-facing displays each measure 25 feet high by 33 feet wide and the end-facing displays each measure 25 feet high by 29.5 feet wide. All four feature 5.9-millimeter pixel spacing to bring crisp, clear imagery to fans in every seat of the arena. The entire centerhung features 3,100 square feet and it would take 292 60-inch televisions to cover the entire centerhung’s digital footprint. Two custom-shaped lobby displays combine for more than 6,700 square feet of digital space to welcome fans into the arena. One display measures approximately 26 feet high by 202 feet long and the other measures approximately 26 feet high by 113 feet long. The height of each display fluctuates as they curve and wind their way into the main seating bowl. Both displays feature 3.9-millimeter pixel spacing to provide high-resolution imagery at close viewing distances. Additionally, two ribbon displays are installed along the seating fascia totaling nearly 1,900 feet in length and six tunnel displays are installed above entrances to the seating bowl. Courtside, three LED scorer’s tables were also installed. These displays allow the opportunity to highlight sponsors throughout events while providing supplement information and graphics to the centerhung displays. The centerhung displays are capable of variable content zoning allowing each to share one large image or they can each be divided into multiple zones to show any variety of content including live video, instant replays, up-to-the-minute statistics and game information, graphics and animations, and sponsorship messages. The Suns’ locker room and training facility each feature a display with 1.5-millimeter pixel spacing. These displays can be used to show replays of the action and to help with preparation for the game and the Suns’ current or upcoming opponent.