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Daktronics

Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.

Daktronics Inc

General

DAKT

Daktronics And Cree LEDEnter Multi-Year Global Patent License Agreement, Effective Dec. 2024

A substantial insider activity was disclosed on December 13, as Kurtenbach, Chairman at Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>), reported the exercise of a large sell of company stock options.
What Happened: In an insider options sale disclosed in a Form 4 filing on Friday with the <a href="https://www.sec.gov/Archives/edgar/data/0000915779/000091577924000156//Archives/edgar/data/915779/000091577924000156/0000915779-24-000156-index.htm">U.S. Securities and Exchange Commission</a>, Kurtenbach, Chairman at Daktronics, exercised stock options for 15,000 shares of DAKT. The transaction value amounted to $134,100.
During Friday's morning session, Daktronics shares up by 2.17%, currently priced at $17.45. Considering the current price, Kurtenbach's 15,000 shares have a total value of $134,100.
<h3>Get to Know Daktronics Better</h3>
Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.
<h3>Unraveling the Financial Story of Daktronics</h3>
Positive Revenue Trend: Examining Daktronics's financials over 3 months reveals a positive narrative. The company achieved a noteworthy revenue growth rate of 4.5% as of 31 October, 2024, showcasing a substantial increase in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Key Profitability Indicators:
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 26.81%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Daktronics's EPS is below the industry average, signaling challenges in bottom-line performance with a current EPS of 0.46.
</li>
</ul>
Debt Management: Daktronics's debt-to-equity ratio is below industry norms, indicating a sound financial structure with a ratio of 0.25.
Analyzing Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: Daktronics's P/E ratio of 27.11 is below the industry average, suggesting the stock may be undervalued.
</li>
<li>
Price to Sales (P/S) Ratio: With a lower-than-average P/S ratio of 0.98, the stock presents an attractive valuation, potentially signaling a buying opportunity for investors interested in sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio of 6.75 trails industry averages, indicating a potential disparity in market valuation that could be advantageous for investors.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
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<h3>The Impact of Insider Transactions on Investments</h3>
Insider transactions shouldn't be used primarily to make an investing decision, however, they can be an important factor for an investor to consider.
In legal terms, an "insider" refers to any officer, director, or beneficial owner of more than ten percent of a company's equity securities registered under Section 12 of the Securities Exchange Act of 1934. This can include executives in the c-suite and large hedge funds. These insiders are required to let the public know of their transactions via a Form 4 filing, which must be filed within two business days of the transaction.
When a company insider makes a new purchase, that is an indication that they expect the stock to rise.
Insider sells, on the other hand, can be made for a variety of reasons, and may not necessarily mean that the seller thinks the stock will go down. 
<h3>Exploring Key Transaction Codes</h3>
Digging into the details of stock transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their attention to those taking place in the open market, as outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000915779">Check Out The Full List Of Daktronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
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This article was generated by Benzinga's automated content engine and reviewed by an editor.

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Insider Trades

Trading Ideas

Chairman At Daktronics Exercises Options Worth $134K

Alta Fox says, "Instead of responding to the governance concerns raised by its largest shareholder, Daktronics has tried to paint Alta Fox as a bloodthirsty creditor, somehow misaligned with Daktronics' equity investors."

Alta Fox Clarifies Its Stance On Its Convertible Promissory Note; Reiterates Belief That Daktronics Can Achieve ~$40 Per Share And ~100% Upside

Daktronics Responds To Alta Fox's Demands On Convertible Debt Repayment, Rejects Proposal As Costly To Shareholders; Highlights Record FY24 Performance And Stock Price Surpassing Alta Fox's Target

Alta Fox Capital Management has beneficial ownership interest on a fully converted basis of 11.7% of Daktronics' outstanding shares.

Alta Fox Plans To Nominate Independent Director Candidates For Election To Daktronics Board

Daktronics, Inc.&nbsp;(NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) shares are trading higher <a target="_blank" href="https://www.benzinga.com/pressreleases/24/12/g42312097/daktronics-inc-announces-2025-fiscal-second-quarter-results" rel="noreferrer noopener">following&nbsp;second-quarter&nbsp;results</a>.
Sales rose&nbsp;4.5%&nbsp;year over year to&nbsp;$208.33 million, beating the consensus of $202.59 million, led by comparatively higher volumes in the Commercial, Live Events and, Transportation business units.&nbsp;
Orders fell 3.3% due to lower orders in the Live Events, Transportation, and International business units.
The product order backlog was $236.0 million as of October 26, 2024. Product and service orders for the quarter totaled $177.6 million, down 3.3% decrease year over year.
Gross margin decreased slightly to 26.8% from 27.2% a year ago due to a change in the sales mix between periods.
Operating income stood at $15.8 million vs. $19.4 million a year ago quarter. Net income stood at $21.4 million in the quarter, while adjusted net income was&nbsp;$13.9 million. Adjusted EPS of $0.27 <a target="_blank" href="https://www.benzinga.com/earnings" rel="noreferrer noopener">beat the consensus of $0.20.</a>
As of October&nbsp;26, cash and marketable securities stood at&nbsp;$134.4&nbsp;million.
Daktronics enters the third quarter of fiscal 2025 with a 3.3% year-over-year growth in orders and expects order volume <a target="_blank" href="https://www.benzinga.com/calendars/guidance" rel="noreferrer noopener">to continue increasing for the full fiscal year</a>.
The first half of the fiscal year typically sees the highest sales volume, and the company anticipates normal &#8220;seasonal&#8221; levels for the remainder of fiscal 2025.
CFO Search: As announced on October 21, 2024, Daktronics&#8217; Board of Directors has initiated a search <a target="_blank" href="https://www.benzinga.com/pressreleases/24/10/g41427408/daktronics-inc-announces-next-steps-in-ongoing-business-transformation-plan" rel="noreferrer noopener">for a new Chief Financial Officer</a>.
Reece Kurtenbach, Daktronicsʹ Chairman, President and Chief Executive Officer, said, &#8220;We completed innovative and visually striking installations at the L.A. Clippers&#8217; Intuit Dome, the Miami HEAT&#8217;s Kaseya Center that have both drawn attention in trade and social media. We also served other customers with the completion and update to the latest digital technologies at numerous college and high school sporting facilities and commercial locations.&#8221;
&#8220;We continue to execute on our business transformation plan, the goal of which is to grow revenue faster than the Company&#8217;s addressable market, expand operating margins, and generate returns on capital in the mid-to-high-teens and consistently above the Company&#8217;s cost of capital.&#8221;
Investors can gain exposure to the stock via&nbsp;SPDR FactSet Innovative Technology ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/XITK#NYSE">XITK</a>) and First Trust Active Factor Small Cap ETF (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AFSM#NYSE">AFSM</a>).
Price Action: DAKT shares are up 15.4% at $18.85 at the last check Wednesday.
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<li><a href="https://www.benzinga.com//node/42315375" target="_blank" rel="noreferrer noopener">Kyndryl And Nokia Expand Partnership: AI-Powered Networking To Transform Data Center Solutions</a></li>
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Earnings

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Daktronics Rallies As Q2 Earnings Beat Estimates, Big Installs Shine Bright

WIIM

Daktronics shares are trading higher after the company reported better-than-expected Q2 sales results. Also, the company announced a product order backlog worth 236 million and expects order volume to increase for the full fiscal year.

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) released its Q2 earnings on Wednesday, December 4, 2024 at 07:30 AM.
Here's what's important from the earnings announcement.
<h3>Earnings</h3>
Daktronics beat estimated earnings by 35.0%, reporting an EPS of $0.27 versus an estimate of $0.2.
Revenue was up $8.96 million from the same period last year.
<h3>Historical Earnings Summary</h3>
In the previous quarter, the company beat on EPS by $0.08, resulting in a 5.0% drop change in the share price the following day.
Here's a look at Daktronics's past performance:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.28</td>
<td>0.15</td>
<td>0.17</td>
<td>0.13</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.36</td>
<td>0.27</td>
<td>0.09</td>
<td>0.27</td>
</tr>
<tr>
<td>Revenue Estimate</td>
<td>229.07M</td>
<td>186.19M</td>
<td>199.80M</td>
<td>213.70M</td>
</tr>
<tr>
<td>Revenue Actual</td>
<td>226.09M</td>
<td>215.88M</td>
<td>170.30M</td>
<td>199.37M</td>
</tr>
</tbody>
</table>

To track all earnings releases for Daktronics <a href="https://www.benzinga.com/quote/DAKT/earnings">visit their earnings calendar here.</a> 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Daktronics Earnings Review: Q2 Summary

Daktronics enters the third quarter of fiscal 2025 with order growth of 3.3 percent year-over-year, and continues to expect order volume to increase for the full fiscal year. The first half of the fiscal year is typically the highest-volume sales of the year, and are expected to be at normal "seasonal" levels for the remainder of fiscal 2025. Management continues to refine and execute its digital and strategic transformation initiatives and will continue to make disciplined investments through the rest of the fiscal year to strengthen Daktronics' business foundation for future profitability and sustainable returns.

Daktronics Continues To Expect Order Volume To Increase For The Full Fiscal Year

Daktronics Q2 Product Order Backlog $236.0M As Of October 26, 2024

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) reported quarterly sales of $208.30 million which beat the analyst consensus estimate of $202.59 million by 2.82 percent. This is a 4.48 percent increase over sales of $199.37 million the same period last year.

Earnings Beats

Daktronics Q2 Sales $208.30M Beat $202.59M Estimate

<h3>Companies Reporting Before The Bell</h3>
• Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) is estimated to report quarterly earnings at $0.20 per share on revenue of $202.59 million. 
• SecureWorks (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SCWX#NASDAQ">SCWX</a>) is projected to report quarterly earnings at $0.00 per share on revenue of $81.39 million. 
• Foot Locker (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/FL#NYSE">FL</a>) is expected to report quarterly earnings at $0.40 per share on revenue of $2.00 billion. 
• Thor Industries (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/THO#NYSE">THO</a>) is projected to report quarterly earnings at $0.72 per share on revenue of $2.23 billion. 
• Dollar Tree (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLTR#NASDAQ">DLTR</a>) is expected to report quarterly earnings at $1.08 per share on revenue of $7.44 billion. 
• Hormel Foods (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/HRL#NYSE">HRL</a>) is likely to report quarterly earnings at $0.42 per share on revenue of $3.14 billion. 
• Chewy (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHWY#NYSE">CHWY</a>) is expected to report quarterly earnings at $0.08 per share on revenue of $2.90 billion. 
• WisdomTree International LargeCap Dividend Fund (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/DOL#NYSE">DOL</a>) is projected to report quarterly earnings at $0.98 per share on revenue of $1.57 billion. 
• Nano Labs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NA#NASDAQ">NA</a>) is projected to report quarterly earnings at $2.57 per share on revenue of $2.95 billion. 
• Royal Bank of Canada (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/RY#NYSE">RY</a>) is expected to report quarterly earnings at $3.01 per share on revenue of $14.72 billion. 
• Gaotu Techedu (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GOTU#NYSE">GOTU</a>) is estimated to report quarterly loss at $0.11 per share on revenue of $172.78 million. 
<h3>Companies Reporting After The Bell</h3>
• Culp (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CULP#NYSE">CULP</a>) is likely to report quarterly loss at $0.18 per share on revenue of $58.00 million. 
• DLH Hldgs (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DLHC#NASDAQ">DLHC</a>) is projected to report quarterly earnings at $0.11 per share on revenue of $101.00 million. 
• PVH (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/PVH#NYSE">PVH</a>) is expected to report quarterly earnings at $2.59 per share on revenue of $2.22 billion. 
• Ooma (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/OOMA#NYSE">OOMA</a>) is likely to report quarterly earnings at $0.16 per share on revenue of $64.32 million. 
• KNOT Offshore Partners (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/KNOP#NYSE">KNOP</a>) is projected to report quarterly loss at $0.04 per share on revenue of $73.49 million. 
• ChargePoint Hldgs (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CHPT#NYSE">CHPT</a>) is expected to report quarterly loss at $0.09 per share on revenue of $89.58 million. 
• SentinelOne (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/S#NYSE">S</a>) is expected to report quarterly loss at $0.20 per share on revenue of $209.72 million. 
• Sprinklr (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/CXM#NYSE">CXM</a>) is projected to report quarterly earnings at $0.08 per share on revenue of $196.40 million. 
• Ncino (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NCNO#NASDAQ">NCNO</a>) is projected to report quarterly earnings at $0.16 per share on revenue of $137.38 million. 
• Verint Systems (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRNT#NASDAQ">VRNT</a>) is projected to report quarterly earnings at $0.43 per share on revenue of $210.03 million. 
• Greif (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/GEF#NYSE">GEF</a>) is projected to report quarterly earnings at $1.10 per share on revenue of $1.41 billion. 
• Five Below (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/FIVE#NASDAQ">FIVE</a>) is likely to report quarterly earnings at $0.17 per share on revenue of $798.58 million. 
• Star Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/SGU#NYSE">SGU</a>) is estimated to report earnings for its fourth quarter. 
• AeroVironment (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/AVAV#NASDAQ">AVAV</a>) is likely to report quarterly earnings at $0.68 per share on revenue of $181.44 million. 
• IDT (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/IDT#NYSE">IDT</a>) is likely to report earnings for its first quarter. 
• American Eagle Outfitters (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/AEO#NYSE">AEO</a>) is estimated to report quarterly earnings at $0.46 per share on revenue of $1.30 billion. 
• Container Store Group (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TCS#NYSE">TCS</a>) is expected to report quarterly earnings at $0.11 per share on revenue of $45.20 million. 
• Synopsys (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/SNPS#NASDAQ">SNPS</a>) is expected to report quarterly earnings at $3.30 per share on revenue of $1.63 billion. 
This article was generated by Benzinga's automated content engine and reviewed by an editor.

AVAV

CHPT

CHWY

CULP

DLHC

DLTR

WisdomTree Trust International LargeCap Dividend

FIVE

GSX Techedu Inc. American Depositary Shares

GOTU

KNOP

NCNO

OOMA

SCWX

SNPS

VRNT

Earnings Scheduled For December 4, 2024

Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) is gearing up to announce its quarterly earnings on Wednesday, 2024-12-04. Here's a quick overview of what investors should know before the release.
Analysts are estimating that Daktronics will report an earnings per share (EPS) of $0.22.
The market awaits Daktronics's announcement, with hopes high for news of surpassing estimates and providing upbeat guidance for the next quarter.
It's important for new investors to understand that guidance can be a significant driver of stock prices.
<h3>Historical Earnings Performance</h3>
In the previous earnings release, the company beat EPS by $0.08, leading to a 4.61% drop in the share price the following trading session.
Here's a look at Daktronics's past performance and the resulting price change:

<table>
<thead>
<tr>
<th>Quarter</th>
<th>Q1 2025</th>
<th>Q4 2024</th>
<th>Q3 2024</th>
<th>Q2 2024</th>
</tr>
</thead>
<tbody>
<tr>
<td>EPS Estimate</td>
<td>0.28</td>
<td>0.15</td>
<td>0.17</td>
<td>0.13</td>
</tr>
<tr>
<td>EPS Actual</td>
<td>0.36</td>
<td>0.27</td>
<td>0.09</td>
<td>0.27</td>
</tr>
<tr>
<td>Price Change %</td>
<td>-5.0%</td>
<td>1.0%</td>
<td>-1.0%</td>
<td>-3.0%</td>
</tr>
</tbody>
</table>

<img src="https://www.benzinga.com/files/images/story/2024/1733238084_0.png" alt="eps graph" />
<a href="https://www.benzinga.com/quote/DAKT/earnings">To track all earnings releases for Daktronics visit their earnings calendar on our site.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Daktronics's Earnings: A Preview

Daktronics, Inc. ("Daktronics" or the "Company") (NASDAQ-DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today announced that its Board of Directors (the "Board") has approved an amendment (the "Second Amendment") to the Company's existing Shareholder Rights Agreement (the "Rights Agreement"), pursuant to which the expiration date of the Rights Agreement was extended to November 19, 2025, the exercise price was changed to $40.00, and the beneficial ownership threshold at which the rights become exercisable was changed to 15% (or 20% in the case of a passive, "13G Investor," as defined in the Rights Agreement).
As noted in the Company's press release dated November 8, 2024, the Board has determined that it is in the best interests of the Company and its common shareholders to exercise the Company's right to convert an initial $7 million in face value of the $25 million senior second lien secured promissory note (the "Convertible Note") held by Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox") into approximately 1.1 million shares of the Company's common stock. Giving effect to the conversion, Alta Fox would beneficially own approximately 6% of the Company's outstanding shares, based on its most recent disclosure to the Company.
The Company has engaged in good faith with Alta Fox regarding Alta Fox's desire to accelerate the repayment of the Convertible Note as an alternative to the forced conversion of the Convertible Note. In its most recent proposal, Alta Fox demanded that Daktronics pay Alta Fox $79 million – more than three times the face value of the Convertible Note and approximately one-and-a-half times its Black-Scholes value – to retire the Convertible Note. The Board rejected Alta Fox's proposal as not in the best interests of the Company and its common shareholders and notified Alta Fox of its intention to exercise the Company's right to force the conversion of the Convertible Note to minimize the dilution and cost to the Company's shareholders. Alta Fox has now threatened to nominate candidates for the Board. Because Daktronics' Articles of Incorporation and South Dakota law mandate cumulative voting in the election of directors, a shareholder who also owns debt, like Alta Fox – whose interests may not be aligned with other Daktronics shareholders – may be able to make Board composition changes even without broad shareholder support.
In extending the expiration date of the Rights Agreement, the Board considered the risk that Alta Fox, by virtue of its significant ownership position, may seek to take actions to advance its interests as a large debtholder, including influencing the composition of the Board, at the expense of common shareholders. The extension of the Rights Agreement reflects the Board's continued commitment to protecting the interests of the Company's shareholders. The Rights Agreement has not been adopted in response to any specific takeover bid or any similar proposal.
The Rights Agreement applies equally to all current and future shareholders and is not intended to deter offers or preclude the Board from considering offers that are fair and otherwise in the best interest of the Company's shareholders.
Under the Rights Agreement, the "Rights" (as defined in the Rights Agreement) will become exercisable if a person or group acquires beneficial ownership of 15% (or 20% in the case of a "13G Investor") or more of Daktronics outstanding common stock without the prior approval of the Board. Any existing shareholders with beneficial ownership of Daktronics stock above the applicable triggering ownership threshold as of the date of the Second Amendment are grandfathered at their current ownership levels so the Rights are not triggered by their current ownership of shares but they are not permitted to increase their ownership without triggering the Rights Agreement. The Board intends to submit the Rights Agreement to shareholders for ratification at the Company's upcoming annual meeting of shareholders.
At this time, Daktronics shareholders are not required to take any action.

Contracts

Management

Daktronics Has Approved An Amendment To The Co's Existing Shareholder Rights Agreement, Pursuant To Which The Expiration Date Of The Rights Agreement Was Extended To November 19, 2025, The Exercise Price Was Changed To $40.00, And The Beneficial Ownership Threshold At Which The Rights Become Exercisable Was Changed To 15%

Daktronics, Inc. ("Daktronics" or the "Company") (NASDAQ-DAKT), the leading U.S.-based designer and manufacturer of best-in-class dynamic video communication displays and control systems for customers worldwide, today announced that, after careful deliberation, the Board of Directors (the "Board") has determined that it is in the best interests of the Company and its common shareholders to exercise the Company's right to convert an initial $7.0 million in face value of the $25 million senior second lien secured promissory note (the "Convertible Note") held by Alta Fox Capital Management, LLC (together with its affiliates, "Alta Fox") into approximately 1.1 million shares of the Company's common stock. &nbsp;
The Board intends to deliver to Alta Fox notice of the conversion on November 11, 2024, with a conversion date of December 3, 2024. The Company intends to convert the remainder of the Convertible Note over the next several months, in tranches of up to $7 million in face value every 30 days, as provided for in the Convertible Note.
Daktronics has delivered outstanding financial results over the last twelve months, with record revenue, gross profit and operating income in fiscal year 2024, and strong returns for shareholders, with the Company's stock price increasing more than 300% over the last two years and over 175% since the issuance of the Convertible Note on May 11, 2023.1 This performance is the result of several initiatives implemented by the management team and Board, including strengthening the Company's financial position, reducing order backlog, and improving margins through operational enhancements and strategic cost reductions.
The Board's decision to force the conversion of the Convertible Note is consistent with the Company's ongoing focus on balance sheet optimization and cost efficiency and will save the Company approximately $5.4 million in interest expense over the remaining term of the Convertible Note. To help offset the share dilution that will result from the conversion of the Convertible Note into common stock, the Company intends to execute on its existing share repurchase authorization as soon as practicable.

Financing

Daktronics Announces Intention To Convert $25M Convertible Promissory Note Into Common Stock

Daktronics Announces Next Steps Of Business Transformation Plan; Forms Internal Business Transformation Office To Review Strategy And Operations; Initiated Search For New CFO With Sheila Anderson Continuing To Serve Role Until Successor Identified; Expects To Deliver Q2 2025 Revenue Inline With Estimates

<h3>Gainers</h3>
<ul>
<li>Glimpse Group (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/VRAR#NASDAQ">VRAR</a>) stock rose 8.5% to $0.82 during Monday's after-market session. The market value of their outstanding shares is at $14.8 million. As per the news, the Q4 earnings report came out today. </li>
<li>Next Technology Holding (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/NXTT#NASDAQ">NXTT</a>) stock moved upwards by 7.37% to $1.31. The company's market cap stands at $9.1 million. </li>
<li>ReposiTrak (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/TRAK#NYSE">TRAK</a>) shares moved upwards by 5.84% to $19.55. The company's market cap stands at $356.2 million. As per the news, the Q4 earnings report came out today. </li>
<li>Argo Blockchain (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ARBK#NASDAQ">ARBK</a>) shares moved upwards by 5.78% to $1.28. The company's market cap stands at $81.4 million. </li>
<li>Greenidge Generation (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/GREE#NASDAQ">GREE</a>) shares moved upwards by 5.51% to $1.91. The company's market cap stands at $20.3 million. </li>
<li>Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>) stock rose 4.33% to $13.47. The market value of their outstanding shares is at $623.6 million. </li>
</ul>
<h3>Losers</h3>
<ul>
<li>Cemtrex (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/CETX#NASDAQ">CETX</a>) shares declined by 23.3% to $0.09 during Monday's after-market session. The market value of their outstanding shares is at $1.5 million. </li>
<li>CPI Card (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/PMTS#NASDAQ">PMTS</a>) stock declined by 8.45% to $25.48. The market value of their outstanding shares is at $281.9 million. </li>
<li>BIT Mining (NYSE:<a class="ticker" href="https://www.benzinga.com/stock/BTCM#NYSE">BTCM</a>) shares decreased by 6.39% to $2.2. The market value of their outstanding shares is at $24.4 million. </li>
<li>Intchains Gr (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/ICG#NASDAQ">ICG</a>) stock declined by 5.6% to $4.22. The company's market cap stands at $253.2 million. </li>
<li>Signing Day Sports (AMEX:<a class="ticker" href="https://www.benzinga.com/stock/SGN#AMEX">SGN</a>) stock decreased by 5.02% to $0.24. The market value of their outstanding shares is at $4.3 million. </li>
<li>BIO-key Intl (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/BKYI#NASDAQ">BKYI</a>) stock declined by 5.0% to $0.91. The market value of their outstanding shares is at $2.7 million. 
See Also: <a href="http://www.benzinga.com/money/tech-stocks/" title="www.benzinga.com/money/tech-stocks/">www.benzinga.com/money/tech-stocks/</a></li>
</ul>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

ARBK

BKYI

BTCM

CETX

GREE

Next Technology Holding Inc. - Ordinary Shares

NXTT

PMTS

TRAK

VRAR

12 Information Technology Stocks Moving In Monday's After-Market Session

In a recent SEC filing, it was disclosed that Reece A Kurtenbach, Chairman at Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>), made a noteworthy acquisition of company stock options on September 19,.
What Happened: A Form 4 filing from the <a href="https://www.sec.gov/Archives/edgar/data/0000915779/000091577924000126//Archives/edgar/data/915779/000091577924000126/0000915779-24-000126-index.htm">U.S. Securities and Exchange Commission</a> on Thursday showed that Kurtenbach, Chairman at Daktronics, a company in the Information Technology sector, acquired stock options for 4,180 shares of DAKT. The options allow Kurtenbach to buy the company's stock at $11.87 per share.
As of Friday morning, Daktronics shares are down by 0.0%, with a current price of $12.44. This implies that Kurtenbach's 4,180 shares have a value of $2,382.
<h3>Discovering Daktronics: A Closer Look</h3>
Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.
<h3>Daktronics: Delving into Financials</h3>
Negative Revenue Trend: Examining Daktronics's financials over 3 months reveals challenges. As of 31 July, 2024, the company experienced a decline of approximately -2.77% in revenue growth, reflecting a decrease in top-line earnings. As compared to its peers, the revenue growth lags behind its industry peers. The company achieved a growth rate lower than the average among peers in Information Technology sector.
Navigating Financial Profits:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 26.4%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): Daktronics's EPS is below the industry average. The company faced challenges with a current EPS of -0.11. This suggests a potential decline in earnings.
</li>
</ul>
Debt Management: Daktronics's debt-to-equity ratio is below the industry average at 0.32, reflecting a lower dependency on debt financing and a more conservative financial approach.
Assessing Valuation Metrics:
<ul>
<li>
Price to Earnings (P/E) Ratio: Daktronics's stock is currently priced at a premium level, as reflected in the higher-than-average P/E ratio of 59.24.
</li>
<li>
Price to Sales (P/S) Ratio: The Price to Sales ratio is 0.71, which is lower than the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): The company's EV/EBITDA ratio 6.28 is below the industry average, indicating that it may be relatively undervalued compared to peers.
</li>
</ul>
Market Capitalization Analysis: The company's market capitalization is below the industry average, suggesting that it is relatively smaller compared to peers. This could be due to various factors, including perceived growth potential or operational scale.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>The Relevance of Insider Transactions</h3>
Insider transactions serve as a piece of the puzzle in investment decisions, rather than the entire picture.
In the context of legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as outlined by Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are obligated to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Despite insider sells not always signaling a bearish sentiment, they can be driven by various factors.
<h3>Understanding Crucial Transaction Codes</h3>
Delving into transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> typically prioritize those unfolding in the open market, as precisely outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000915779">Check Out The Full List Of Daktronics's Insider Trades.</a>
Insider Buying Alert: Profit from C-Suite Moves
Benzinga Edge reveals every insider trade in real-time. Don't miss the next big stock move driven by insider confidence. Unlock this ultimate sentiment indicator now. <a href="https://www.benzinga.com/premium/ideas/benzinga-edge-checkout/?t=Be8be9arja3be22in8&amp;utm_source=benzinga-insights">Click here for access</a>.
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Reece A Kurtenbach Expands Holdings With Daktronics Stock Options

A new SEC filing reveals that Kevin P. McDermott, Director at Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>), made a notable insider purchase on September 11,.
What Happened: A Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000915779/000091577924000103//Archives/edgar/data/915779/000091577924000103/0000915779-24-000103-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday unveiled that McDermott made a notable purchase of 7,160 shares of Daktronics, valuing at $84,989.
As of Thursday morning, Daktronics shares are up by 0.9%, currently priced at $12.3.
<h3>All You Need to Know About Daktronics</h3>
Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.
<h3>Daktronics: Delving into Financials</h3>
Decline in Revenue: Over the 3 months period, Daktronics faced challenges, resulting in a decline of approximately -2.77% in revenue growth as of 31 July, 2024. This signifies a reduction in the company's top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Interpreting Earnings Metrics:
<ul>
<li>
Gross Margin: The company shows a low gross margin of 26.4%, indicating concerns regarding cost management and overall profitability relative to its industry counterparts.
</li>
<li>
Earnings per Share (EPS): Daktronics's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of -0.11.
</li>
</ul>
Debt Management: Daktronics's debt-to-equity ratio is below the industry average. With a ratio of 0.32, the company relies less on debt financing, maintaining a healthier balance between debt and equity, which can be viewed positively by investors.
Analyzing Market Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: With a higher-than-average P/E ratio of 58.05, Daktronics's stock is perceived as being overvalued in the market.
</li>
<li>
Price to Sales (P/S) Ratio: The Price to Sales ratio is 0.7, which is lower than the industry average. This suggests a possible undervaluation based on sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): With an EV/EBITDA ratio lower than industry averages at 6.15, Daktronics could be considered undervalued.
</li>
</ul>
Market Capitalization Analysis: The company exhibits a lower market capitalization profile, positioning itself below industry averages. This suggests a smaller scale relative to peers.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Why Insider Transactions Are Key in Investment Decisions</h3>
Insightful as they may be, insider transactions should be considered alongside a thorough examination of other investment criteria.
When discussing legal matters, the term "insider" refers to any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, as stipulated in Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and significant hedge funds. Such insiders are required to report their transactions through a Form 4 filing, which must be completed within two business days of the transaction.
A new purchase by a company insider is a indication that they anticipate the stock will rise.
On the other hand, insider sells may not necessarily indicate a bearish view and can be motivated by various factors.
<h3>Understanding Crucial Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000915779">Check Out The Full List Of Daktronics's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Director Of Daktronics Makes $84K Buy

On September 11, a substantial insider purchase was made by Jose-Marie Griffiths, Director at Daktronics (NASDAQ:<a class="ticker" href="https://www.benzinga.com/stock/DAKT#NASDAQ">DAKT</a>), as per the latest SEC filing.
What Happened: In a significant move reported in a Form 4 filing with the <a href="https://www.sec.gov/Archives/edgar/data/0000915779/000091577924000104//Archives/edgar/data/915779/000091577924000104/0000915779-24-000104-index.htm">U.S. Securities and Exchange Commission</a> on Wednesday, Griffiths purchased 7,160 shares of Daktronics, demonstrating confidence in the company's growth potential. The total value of the transaction stands at $84,989.
As of Thursday morning, Daktronics shares are up by 0.9%, currently priced at $12.3.
<h3>About Daktronics</h3>
Daktronics Inc designs and manufactures electronic scoreboards, programmable display systems, and large-screen video displays for sporting, commercial, and transportation applications. It is engaged in a full range of activities: marketing and sales, engineering and product design and development, manufacturing, technical contracting, professional services, and customer service and support. The company offers a complete line of products, from small scoreboards and electronic displays to large multimillion-dollar video display systems as well as related control, timing, and sound systems. The company has five reportable segments: Commercial, Live Events, High School Park and Recreation, Transportation, and International. The company makes the majority of its revenue from Live events.
<h3>Financial Milestones: Daktronics's Journey</h3>
Revenue Challenges: Daktronics's revenue growth over 3 months faced difficulties. As of 31 July, 2024, the company experienced a decline of approximately -2.77%. This indicates a decrease in top-line earnings. In comparison to its industry peers, the company trails behind with a growth rate lower than the average among peers in the Information Technology sector.
Profitability Metrics: Unlocking Value
<ul>
<li>
Gross Margin: The company faces challenges with a low gross margin of 26.4%, suggesting potential difficulties in cost control and profitability compared to its peers.
</li>
<li>
Earnings per Share (EPS): Daktronics's EPS lags behind the industry average, indicating concerns and potential challenges with a current EPS of -0.11.
</li>
</ul>
Debt Management: Daktronics's debt-to-equity ratio is below the industry average at 0.32, reflecting a lower dependency on debt financing and a more conservative financial approach.
Financial Valuation:
<ul>
<li>
Price to Earnings (P/E) Ratio: A higher-than-average P/E ratio of 58.05 suggests caution, as the stock may be overvalued in the eyes of investors.
</li>
<li>
Price to Sales (P/S) Ratio: The current P/S ratio of 0.7 is below industry norms, suggesting potential undervaluation and presenting an investment opportunity for those considering sales performance.
</li>
<li>
EV/EBITDA Analysis (Enterprise Value to its Earnings Before Interest, Taxes, Depreciation &amp; Amortization): Daktronics's EV/EBITDA ratio, lower than industry averages at 6.15, indicates attractively priced shares.
</li>
</ul>
Market Capitalization Analysis: Reflecting a smaller scale, the company's market capitalization is positioned below industry averages. This could be attributed to factors such as growth expectations or operational capacity.
<a href="https://www.schwab.com/brokerage?aff=XEC">Now trade stocks online commission free with Charles Schwab, a trusted and complete investment firm.</a>
<h3>Exploring the Significance of Insider Trading</h3>
Emphasizing the importance of a comprehensive approach, considering insider transactions is valuable, but it's crucial to evaluate them in conjunction with other investment factors.
Considering the legal perspective, an "insider" is defined as any officer, director, or beneficial owner holding more than ten percent of a company's equity securities, according to Section 12 of the Securities Exchange Act of 1934. This includes executives in the c-suite and major hedge funds. These insiders are mandated to disclose their transactions through a Form 4 filing, to be submitted within two business days of the transaction.
Pointing towards optimism, a company insider's new purchase signals their positive anticipation for the stock to rise.
Nevertheless, insider sells may not necessarily indicate a bearish view and can be influenced by various factors.
<h3>Navigating the World of Insider Transaction Codes</h3>
In the domain of transactions, <a href="https://www.benzinga.com/money/investing-tools">investors</a> frequently turn their focus to those taking place in the open market, as meticulously outlined in Table I of the Form 4 filing. A P in Box 3 indicates a purchase, while S signifies a sale. Transaction code C signals the conversion of an option, and transaction code A denotes a grant, award, or other acquisition of securities from the company.
<a href="https://www.benzinga.com/sec/insider-trades/search/index?company_cik=0000915779">Check Out The Full List Of Daktronics's Insider Trades.</a>
This article was generated by Benzinga's automated content engine and reviewed by an editor.

Jose-Marie Griffiths Of Daktronics Shows Optimism, Buys $84K In Stock

Here are the major earnings before the open tomorrow

Daktronics beats top-line and bottom-line estimates; reaffirms FY25 outlook

Reports Q2 revenue $208.3M vs $199.37M last year. Reece Kurtenbach, Daktronics (DAKT) Chairman, President and Chief Executive Officer, commented, "...

Daktronics reports Q2 EPS 22c vs 5c last year

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Daktronics, Inc. (DAKT) Q2 2024 Earnings Call Transcript

Daktronics ( ($DAKT) ) has released its Q2 earnings. Here is a breakdown of the information Daktronics presented to its investors. Daktronics, Inc....

Daktronics Reports Strong Q2 2025 Results Amid Growth

Daktronics Q2: Digital Transformation Set To Drive Strong Margin Growth

Daktronics gains as activist investor Alta Fox plans to nominate directors

Daktronics (DAKT) issued the following statement regarding the recent press release and public comments from Alta Fox Capital Management: "In May 2...

Daktronics comments on presentation, statements from Alta Fox

Cree LED, a Penguin Solutions brand (PENG), and Daktronics (DAKT) announced a multi-year, global patent license agreement effective December 2024. ...

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