Daktronics, Inc. (DAKT): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el mundo dinámico de la tecnología de visualización visual, Daktronics, Inc. (DAKT) surge como una fuerza pionera, transformando cómo las industrias se comunican e involucran al público a través de soluciones LED de vanguardia. Desde estadios deportivos electrizantes hasta revolucionar los sistemas de información de transporte, esta empresa innovadora se ha posicionado estratégicamente como un líder global en tecnologías de visualización digital. Al combinar perfectamente la ingeniería avanzada, las soluciones personalizables y el soporte integral, Daktronics ha creado un modelo de negocio robusto que se extiende mucho más allá de la simple fabricación de pantalla, creando experiencias visuales inmersivas en diversos sectores.

Daktronics, Inc. (DAKT) - Modelo de negocios: asociaciones clave

Fabricantes de exhibición LED y proveedores de tecnología

Daktronics colabora con múltiples proveedores de tecnología para mejorar sus capacidades de fabricación de visualización:

Categoría de proveedor	Número de asociaciones	Valor de adquisición anual
Fabricantes de componentes LED	12	$ 37.6 millones
Sistemas de control electrónico	8	$ 22.4 millones
Proveedores de semiconductores	6	$ 15.2 millones

Lugares deportivos y estadios

Métricas de asociación clave para instalaciones de visualización deportiva:

• Instalaciones del estadio de la NFL: 28
• Pantallas de la arena de la NBA: 24
• Marcones del estadio MLB: 30
• Lugares de deportes universitarios: 156

Instituciones y escuelas educativas

Tipo de institución	Instalaciones totales	Ingresos anuales del segmento
Escuelas K-12	1,247	$ 18.3 millones
Universidades	412	$ 26.7 millones

Autoridades de transporte

Cobertura de asociación:

• Tableros de mensajes de carretera: 37 departamentos estatales de transporte
• Mostrar información del aeropuerto: 62 aeropuertos principales
• Pantallas del sistema de tránsito: 18 autoridades de tránsito metropolitano

Fabricantes de equipos agrícolas

Tipo de asociación	Número de colaboraciones	Ingresos colaborativos anuales
Mostrar integración	14	$ 12.9 millones
Sistemas de monitoreo de equipos	9	$ 8.6 millones

Daktronics, Inc. (DAKT) - Modelo de negocio: actividades clave

Diseño y fabricación de tecnologías de visualización LED

A partir de 2024, Daktronics invirtió $ 8.4 millones en propiedades, plantas y equipos para la fabricación de exhibiciones LED. La capacidad de producción anual alcanza aproximadamente 500,000 pies cuadrados de paneles de exhibición LED.

Capacidad de fabricación	Volumen anual	Inversión de producción
Paneles de pantalla LED	500,000 pies cuadrados	$ 8.4 millones

Soluciones de señalización digital personalizadas

Daktronics genera aproximadamente $ 185.2 millones anuales a partir de soluciones de señalización digital personalizadas en múltiples segmentos de mercado.

• Lugares deportivos señalización digital
• Pantallas digitales de transporte
• Señalización digital minorista
• Muestra de comunicación corporativa

Producción de marcadores electrónicos

El segmento de marcador electrónico genera $ 92.6 millones en ingresos anuales. Instalaciones de producción ubicadas en Brookings, Dakota del Sur.

Tipo de marcador	Producción anual	Ganancia
Marcadores deportivos	1.200 unidades	$ 92.6 millones

Desarrollo de software para la gestión de visualización

La inversión de I + D en el desarrollo de software alcanzó $ 12.3 millones en el año fiscal 2023. El equipo de desarrollo de software consta de 87 ingenieros dedicados.

Investigación y desarrollo de tecnologías de exhibición

El gasto total de I + D para 2023 fue de $ 18.7 millones, lo que representa el 4.2% de los ingresos totales de la compañía.

Área de enfoque de I + D	Inversión	Porcentaje de ingresos
Tecnologías de visualización	$ 18.7 millones	4.2%

Daktronics, Inc. (DAKT) - Modelo de negocio: recursos clave

Instalaciones de fabricación avanzadas

Daktronics opera múltiples instalaciones de fabricación por un total de aproximadamente 380,000 pies cuadrados de espacio de producción. Las ubicaciones de fabricación primarias incluyen:

Ubicación	Tamaño de la instalación	Enfoque de producción primaria
Brookings, Dakota del Sur	290,000 pies cuadrados	Pantallas LED, marcadores electrónicos
Sioux Falls, Dakota del Sur	90,000 pies cuadrados	Sistemas de control, componentes electrónicos

Tecnologías propietarias de LED y exhibición electrónica

Daktronics mantiene una cartera de tecnología robusta con:

• Más de 250 patentes activas
• Inversión anual de I + D de $ 14.3 millones (2023 año fiscal)
• Tecnologías de exhibición especializadas para deportes, transporte y mercados comerciales

Talento de ingeniería y diseño

Composición de la fuerza laboral a partir de 2023:

Categoría de empleado	Número de empleados
Total de empleados	1,127
Personal de ingeniería	312
Profesionales del diseño	87

Cartera de propiedades intelectuales

Detalles de la patente:

• Patentes activas totales: 253
• Categorías de patentes:
  • Tecnología de visualización: 112 patentes
  • Sistemas de control: 86 patentes
  • Procesamiento de señal: 55 patentes

Reputación de marca fuerte

Métricas de presencia del mercado:

Segmento de mercado	Estimación de la cuota de mercado
Pantallas deportivas	42%
Pantallas de transporte	35%
Pantallas comerciales	27%

Daktronics, Inc. (DAKT) - Modelo de negocio: propuestas de valor

Soluciones de visual visuales innovadoras de alta calidad

Daktronics generó $ 561.7 millones en ingresos totales para el año fiscal 2023. La compañía ofrece soluciones de visualización con las siguientes especificaciones:

Tipo de visualización	Rango de resolución	Píxel
Paredes de video LED	1920x1080 a 4K	1.2 mm - 16 mm
Exhibiciones de lugares grandes	HD a Ultra HD	6 mm - 25 mm

Señalización digital personalizable para múltiples industrias

Daktronics atiende a diversos segmentos de mercado:

• Deportes y entretenimiento: el 75% de los principales estadios de la NFL usan pantallas Daktronics
• Transporte: más de 500 aeropuertos y sistemas de tránsito en todo el mundo
• Minorista: más de 3.000 instalaciones de señalización digital
• Educación: más de 1.200 sistemas de exhibición del campus

Tecnologías de visualización de eficiencia energética y duradera

Métricas de eficiencia energética:

Característica tecnológica	Actuación
Consumo de energía	Hasta un 40% más bajo que las pantallas tradicionales
Esperanza de vida	Más de 100,000 horas operativas

Experiencias de compromiso de fanáticos y audiencias mejoradas

Las tecnologías de compromiso incluyen:

• Seguimiento de estadísticas en tiempo real
• Plataformas de contenido interactivos
• Integración de redes sociales

Integración integral y soporte técnico

Métricas de soporte técnico:

Métrico de soporte	Actuación
Centros de apoyo global	7 ubicaciones internacionales
Tiempo de respuesta promedio	Menos de 4 horas
Cobertura de garantía	Estándar de 3-5 años

Daktronics, Inc. (DAKT) - Modelo de negocios: relaciones con los clientes

Compromiso del equipo de ventas directo

Daktronics mantiene un equipo de ventas directo dedicado de 87 profesionales de ventas a partir de 2023, centrándose en segmentos clave del mercado, incluidos deportes, transporte y mercados comerciales.

Segmento del equipo de ventas	Número de representantes
Mercado deportivo	34
Mercado de transporte	26
Mercado comercial	27

Soporte técnico y consulta

La compañía proporciona soporte técnico integral a través de:

• Línea directa de soporte técnico 24/7
• Equipo de apoyo dedicado de 62 especialistas técnicos
• Tiempo de respuesta promedio de 2.3 horas para problemas de sistema crítico

Contratos de servicio y mantenimiento a largo plazo

Daktronics genera $ 47.3 millones anualmente a partir de contratos de servicio y mantenimiento en varios segmentos de mercado.

Tipo de contrato	Ingresos anuales
Mantenimiento del lugar deportivo	$ 18.6 millones
Mantenimiento del sistema de transporte	$ 15.7 millones
Mantenimiento de la pantalla comercial	$ 13 millones

Plataformas de atención al cliente en línea

Los canales de soporte digital incluyen:

• Portal de clientes basado en la web con 12.500 usuarios registrados
• Base de conocimiento de autoservicio con 3.200 documentos técnicos
• Sistema de envío de boletos en línea con tasa de resolución del 94%

Asistencia de capacitación e implementación

Daktronics ofrece programas de capacitación especializados con $ 3.2 millones invertido anualmente en educación al cliente y soporte de implementación.

Programa de capacitación	Participantes anuales
Capacitación técnica en el sitio	425 clientes
Módulos de capacitación en línea	1.850 participantes
Talleres de implementación personalizados	276 clientes

Daktronics, Inc. (DAKT) - Modelo de negocios: canales

Fuerza de ventas directa

A partir de 2024, Daktronics mantiene un equipo de ventas directo dedicado de aproximadamente 87 profesionales de ventas en múltiples segmentos de mercado.

Segmento de canales de ventas	Número de representantes de ventas
Lugar de deportes	32
Transporte	22
Transmisión/publicidad	18
Pantallas especializadas	15

Plataforma de comercio electrónico en línea

Daktronics opera una plataforma de ventas digitales con $ 4.2 millones en volumen de transacciones en línea para 2024.

Ferias y exhibiciones de la industria

La compañía participa en 17 ferias comerciales principales de la industria anualmente, con un alcance estimado de 42,000 clientes potenciales.

Categoría de feria comercial	Participación anual
Conferencias de tecnología deportiva	5
Exposiciones de señalización digital	6
Eventos de tecnología de transporte	4
Programas de tecnología de transmisión	2

Representantes del fabricante

Daktronics funciona con 43 empresas representativas de fabricantes independientes cubriendo diversas regiones geográficas.

• Representantes de América del Norte: 22
• Representantes europeos: 12
• Representantes de Asia-Pacífico: 9

Marketing digital y sitio web corporativo

El sitio web corporativo genera aproximadamente 127,000 visitantes mensuales únicos con un presupuesto de marketing digital de $ 1.3 millones para 2024.

Canal de marketing digital	Métricas de compromiso mensuales
Tráfico del sitio web	127,000 visitantes únicos
Seguidores de LinkedIn	42,500
Seguidores de Twitter	18,700
Gasto publicitario digital	$ 1.3 millones anuales

Daktronics, Inc. (DAKT) - Modelo de negocio: segmentos de clientes

Franquicias y estadios deportivos

Daktronics sirve a los principales lugares deportivos con soluciones de exhibición en múltiples ligas y niveles:

Liga/segmento	Número de lugares	Penetración estimada del mercado
Estadios de la NFL	32	87%
Arena de la NBA	30	93%
Estadios de MLB	30	90%
Estadios de la División I de la NCAA	130	75%

Instituciones educativas

Daktronics proporciona soluciones de visualización para entornos académicos:

• Escuelas K-12 con marcadores digitales: 12,500
• Campus universitarios/universitarios con sistemas de exhibición: 1.800
• Penetración total del mercado educativo: 65%

Autoridades de transporte

Soluciones de señalización digital y visualización de información para sectores de transporte:

Segmento de transporte	Instalaciones
Aeropuerto	287 aeropuertos principales
Sistemas de carreteras/tránsito	42 departamentos estatales de transporte
Estaciones de tren	156 estaciones principales

Organizaciones gubernamentales

Despliegues del gobierno federal y estatal:

• Instalaciones federales con sistemas de visualización: 378
• Instalaciones del gobierno estatal: 1.245
• Proyectos del gobierno municipal: 2,300

Negocios comerciales y minoristas

Soluciones de señalización digital y visualización en sectores comerciales:

Segmento minorista	Instalaciones estimadas
Centros comerciales	1,100
Cadenas minoristas	387
Campus corporativos	642

Daktronics, Inc. (DAKT) - Modelo de negocio: Estructura de costos

Gastos de fabricación y producción

Para el año fiscal 2023, Daktronics reportó costos de fabricación totales de $ 315.2 millones. El desglose de los gastos de producción incluye:

Categoría de costos	Monto ($)
Costos de materia prima	187,600,000
Trabajo directo	62,300,000
Sobrecarga de fabricación	65,300,000

Inversiones de investigación y desarrollo

Daktronics asignado $ 29.4 millones Para la investigación y el desarrollo en el año fiscal 2023, que representa el 6.2% de los ingresos totales.

• Personal de I + D: 185 empleados
• Solicitudes de patentes presentadas: 12
• Nuevas iniciativas de desarrollo de productos: 7

Costos operativos de ventas y marketing

Los gastos de ventas y marketing para el año fiscal 2023 totalizaron $ 45.7 millones.

Categoría de gastos de marketing	Monto ($)
Compensación del personal de ventas	22,100,000
Materiales publicitarios y promocionales	8,600,000
Gastos de ferias y eventos	5,900,000
Canales de marketing digital	9,100,000

Mantenimiento de la infraestructura tecnológica

Los costos de mantenimiento de la infraestructura tecnológica para el año fiscal 2023 fueron $ 18.6 millones.

• Investmentos de actualización de infraestructura de TI: $ 7.2 millones
• Sistemas de ciberseguridad: $ 3.4 millones
• Licencias de software y computación en la nube: $ 5.9 millones
• Sistemas de red y comunicación: $ 2.1 millones

Compensación y capacitación de empleados

La compensación total de los empleados y los gastos de capacitación para el año fiscal 2023 ascendieron a $ 142.5 millones.

Categoría de compensación	Monto ($)
Salarios base	112,600,000
Bonos de rendimiento	15,300,000
Programas de capacitación de empleados	4,700,000
Beneficios y seguro	9,900,000

Daktronics, Inc. (Dakt) - Modelo de negocios: flujos de ingresos

Venta de equipos de visualización digital

Para el año fiscal 2023, Daktronics reportó ingresos totales de $ 581.4 millones. Las ventas de equipos de visualización digital representaban una parte significativa de este ingreso.

Categoría de productos	Ingresos (2023)	Porcentaje de ingresos totales
Segmento deportivo	$ 220.5 millones	37.9%
Segmento comercial	$ 181.2 millones	31.2%
Segmento de transporte	$ 89.7 millones	15.4%
Segmento de eventos en vivo	$ 90.0 millones	15.5%

Servicios de instalación

Los servicios de instalación contribuyeron con aproximadamente $ 45.3 millones a los ingresos totales en el año fiscal 2023.

Contratos de mantenimiento continuos

Los contratos de mantenimiento generaron aproximadamente $ 36.8 millones en ingresos recurrentes para el año fiscal 2023.

Licencias y soporte de software

• Ingresos de licencia de software: $ 22.5 millones
• Servicios de soporte técnico: $ 17.6 millones

Piezas de repuesto y componentes

Las piezas de reemplazo y las ventas de componentes representaron aproximadamente $ 25.4 millones en ingresos para el año fiscal 2023.

Flujo de ingresos	Cantidad (2023)
Venta de equipos de visualización digital	$ 581.4 millones
Servicios de instalación	$ 45.3 millones
Contratos de mantenimiento	$ 36.8 millones
Licencia de software	$ 22.5 millones
Apoyo técnico	$ 17.6 millones
Piezas de repuesto	$ 25.4 millones

Daktronics, Inc. (DAKT) - Canvas Business Model: Value Propositions

You're looking at the core reasons customers choose Daktronics, Inc., especially as they push through their business transformation. It really boils down to quality, customization, and long-term reliability, which you can see reflected in their order book.

Best-in-class dynamic video displays and integrated control systems.

Daktronics, Inc. positions itself as the leading U.S.-based designer and manufacturer of these systems for customers globally. The market demand for their offering is clearly visible in their order intake, even with revenue fluctuations. For instance, in the first quarter of fiscal 2026, which ended August 2, 2025, product and service orders hit $238.5 million, a significant jump of 35.4% year-over-year from the first quarter of fiscal 2025. This robust demand translated into a product order backlog of $360.3 million as of August 2, 2025. This backlog is up from $341.6 million at the end of the prior fiscal year 2025.

U.S.-based design and manufacturing for quality and reliability.

The company emphasizes its roots as a U.S.-based designer and manufacturer. This domestic presence is a key part of their value proposition, particularly when dealing with supply chain uncertainty and tariffs. Management noted that one measure to mitigate tariff impacts includes potentially reshoring production to the U.S. This focus on domestic quality underpins their reliability promise, which is critical for high-stakes installations.

Tiered product strategy aligning pricing with value delivered.

Daktronics, Inc. advanced a tiered product offering strategy as part of its business transformation, making sure pricing matches what the customer actually gets in terms of features and performance. This focus on value-based selling and product mix is showing up in the gross margin. For the first quarter of fiscal 2026, the gross profit as a percentage of net sales rose to 29.7%, a clear improvement from the 26.4% seen in the first quarter of fiscal 2025. This margin expansion reflects the success of value-based pricing and better alignment of manufacturing capacity to demand.

Comprehensive service and support for long-term system operation.

The value proposition extends well beyond the initial sale, covering the entire lifecycle of the display system. You see this commitment in the combined order metrics. For the first quarter of fiscal 2026, total product and service orders were $238.5 million. Furthermore, the company has been working on upgrades to service and systems maintenance solutions, aiming to enhance customer interaction and support quality.

Custom, large-scale video solutions for major venues.

For the biggest projects, the value is in the custom engineering and scale. You have to look at the wins to see this in action. For example, during the third quarter of fiscal 2025, which ended January 25, 2025, the company secured a major NFL stadium order, demonstrating their capability to handle large, complex, and high-profile installations.

Here's a quick look at how the financials from the end of the last fiscal year and the start of the current one frame this value delivery:

Metric	Fiscal Year 2025 (Ended Apr 26, 2025)	Fiscal Q1 2026 (Ended Aug 2, 2025)
Net Sales	$756.5 million	$219.0 million
Operating Income	$33.1 million	$23.3 million
Gross Profit Margin	25.8%	29.7%
Product Order Backlog	$341.6 million	$360.3 million

The company is actively working toward its three-year financial objectives, which include achieving 7-10% sales growth and a 10-12% operating margin. Finance: review the Q1 FY2026 order-to-revenue conversion rate by next Tuesday.

Daktronics, Inc. (DAKT) - Canvas Business Model: Customer Relationships

Daktronics, Inc. (DAKT) structures its customer engagement across direct engagement for complex needs and partner enablement for broader market reach.

Dedicated direct sales team for large, complex projects.

The focus on large, complex projects is supported by the overall financial scale of the business, with Fiscal Year 2025 sales reaching $756.5 million. The operational performance, which directly impacts customer confidence, resulted in a full-year operating profit of $33 million for Fiscal Year 2025.

Channel partner management for standard product sales.

Daktronics, Inc. (DAKT) actively manages its channel relationships, evidenced by the annual Sales Expo event. The Sales Expo 2025 welcomed 51 professionals from 28 sign companies. This event is designed to arm partners with the knowledge to sell digital signage effectively. The company's commitment to these partners is a core part of its strategy for standard product sales.

Self-service options enabled by the new Service software system.

A significant step in enabling self-service and streamlining processes was the rollout of the Service software system in the first quarter of fiscal 2026. This system is intended to enhance customer experiences through better service management and the enablement of self-service options. The company's year-end product order backlog stood at $341.6 million as of April 26, 2025, indicating a substantial base of future service opportunities.

Long-term service contracts for recurring revenue.

Recurring revenue potential is reflected in the balance sheet figures related to future obligations. Long-term contract liabilities were reported at $18,421 thousand at the end of Fiscal Year 2025 (April 26, 2025). This figure increased slightly to $18,497 thousand by August 2, 2025. These figures represent the financial commitment from customers for future services or contract fulfillment.

The relationship between sales execution and financial outcomes for the period ending April 26, 2025, can be viewed through these key metrics:

Metric	Amount (FY2025)
Net Sales	$756.5 million
Product Order Backlog (as of 4/26/2025)	$341.6 million
Long-term Contract Liabilities (as of 4/26/2025)	$18,421 thousand
Adjusted Operating Profit	$50 million

Building strong, lasting relationships with key customers.

The emphasis on partnership is a recurring theme in Daktronics, Inc. (DAKT) engagement strategy.

• Sales Expo 2025 featured 29 first-time attendees among the sign company professionals.
• The event included small group sessions for attendees to discuss business strategies and share experiences.
• The company is focused on supporting sign company partners through innovation, education, and collaboration.
• The three-year forward objectives include achieving 7-10% Sales Growth.

Daktronics, Inc. (DAKT) - Canvas Business Model: Channels

You're looking at how Daktronics, Inc. gets its products and services into the hands of customers, and it's a mix of direct engagement and partner networks. This is crucial because the channel strategy directly impacts how quickly they can convert that order backlog into recognized revenue.

The company structures its sales around distinct domestic business units-Live Events, Commercial, High School Park and Recreation, and Transportation-plus one International business unit. This segmentation is key to deploying the dedicated direct sales force for major projects within the Live Events and Transportation verticals. For fiscal 2025, the year-end product order backlog stood at $342 million, up from $316.9 million at the end of fiscal 2024, showing that order capture is a primary focus for these direct teams.

The reach extends significantly through a network of sign company resellers and AV integrators. Daktronics, Inc. has been actively working to deepen relationships with AV integrators to penetrate growing markets, as noted in their fiscal 2024 review. This channel is also a focus for expanding digital sales channels.

For standard product sales, the company utilizes an e-commerce platform. The outline suggests this channel contributed approximately ~15% of fiscal 2024 revenue, targeting smaller, more standardized transactions outside the large, custom projects handled by the direct sales force.

The International business unit maintains its own dedicated sales team to manage global markets. While fiscal 2025 net sales of $756.5 million represented a 7.5 percent decrease from the record $818.1 million in fiscal 2024, the International unit contributed to order growth in fiscal 2024, indicating its ongoing importance to the channel mix.

The effectiveness of these channels is reflected in the cash generation, which is a direct result of successful fulfillment. Operating cash flow for fiscal 2025 reached $97.7 million, a substantial increase over the $63.2 million generated in fiscal 2024.

Here's a quick look at the financial performance tied to the business structure, which informs resource allocation across these channels:

Metric	Fiscal Year 2024	Fiscal Year 2025
Total Net Sales	$818.1 million	$756.5 million
Full-Year Adjusted Operating Income	$87.1 million	$49.6 million
Operating Cash Flow	$63.2 million	$97.7 million
Year-End Product Order Backlog	$316.9 million	$342 million

The company is also focused on improving sales effectiveness through digital transformation initiatives, which includes automating quoting and sales processes. This suggests an ongoing effort to enhance the efficiency of all channels, from direct sales to partner-driven sales.

You can see the different ways Daktronics, Inc. touches the market:

• Direct sales engagement for major Live Events and Transportation projects.
• Leveraging a partner network of sign company resellers and AV integrators.
• Using an e-commerce platform for standard product sales.
• A dedicated sales team managing the International business unit.

Finance: draft 13-week cash view by Friday.

Daktronics, Inc. (DAKT) - Canvas Business Model: Customer Segments

You're looking at the core groups Daktronics, Inc. sells its dynamic video communication displays and control systems to. These segments drive the business, and looking at the numbers from late 2025, you can see where the momentum is building.

The company operates across five main areas: Live Events, Commercial businesses, High School Park and Recreation (HSPR), Transportation, and International customers. For the full fiscal year 2025 (FY2025), which ended April 26, 2025, total net sales were $756.48 million, representing a decrease of 7.53% compared to the prior year. However, order momentum was strong heading into the next fiscal year, with the year-end product backlog reaching $342 million, an 8% rise. Overall orders for FY2025 increased 5.6% compared to fiscal 2024.

Live Events

This segment, which historically contributes the majority of revenue, saw project timing impact its sales in the most recent full fiscal year. Despite this, demand remains a key driver, as evidenced by winning three major league stadium projects in the first quarter of fiscal 2026.

Commercial Businesses

This segment, covering retail, casinos, and quick-serve restaurants, showed significant strength in the most recent reporting period. For the first quarter of fiscal 2026, Commercial segment revenue surged by 35.0% year-over-year.

High School Park and Recreation (HSPR) Market

The HSPR market is a reliable source of business, often providing consistent order flow. In the first quarter of fiscal 2026, this segment experienced revenue growth of 23.6% compared to the prior year, and the company noted a record quarter for orders in this market.

Transportation

The Transportation segment, which includes airports and Intelligent Transportation Systems, experienced lower sales in the first quarter of fiscal 2026 compared to the prior year, reflecting the timing of project completions and customer deliveries.

International Customers

The International segment is clearly a growth engine, showing strong order momentum. In the first quarter of fiscal 2026, International net sales increased by 33.6% compared to the prior year, with notable contributions coming from the Middle East and Australia.

You can see the segment performance trends in the table below, using the latest available quarterly revenue comparison:

Customer Segment	Most Recent Specific Growth Metric (Q1 FY2026 vs Q1 FY2025)	FY2025 Full Year Context
Live Events	Lower sales in Q1 FY2026	Primary revenue contributor; won three major league stadium projects in Q1 FY2026.
Commercial businesses	Revenue up 35.0% in Q1 FY2026	Improved contribution margin through operating efficiencies in FY2025.
High School Park and Recreation (HSPR)	Revenue up 23.6% in Q1 FY2026	Record quarter for orders in Q1 FY2026.
Transportation	Lower sales in Q1 FY2026	Improved contribution margin through operating efficiencies in FY2025.
International customers	Net Sales up 33.6% in Q1 FY2026	Continued order growth mentioned in Q1 FY2026.

The overall financial health at the end of FY2025 supported these segments, with Operating Cash Flow surging by 55% to $98 million, and the company ending the fiscal year with $128 million in cash on hand.

• FY2025 Full Year Net Sales: $756.48 million.
• FY2025 Full Year Operating Profit: $33 million (Adjusted: $50 million).
• Year-End Product Backlog (April 26, 2025): $342 million.
• Q1 FY2026 Total Orders: $238.5 million, a 35.4% increase year-over-year.

Daktronics, Inc. (DAKT) - Canvas Business Model: Cost Structure

You're looking at the core expenses for Daktronics, Inc. as of late 2025, based on the recently closed fiscal year 2025 results. Here's the quick math on where the money went to produce and sell their displays.

Manufacturing costs, including raw materials and labor.

The cost directly tied to making the products-your Cost of Revenue-was substantial in fiscal year 2025. With total revenue at $756.5 million, the total cost of revenue, which covers raw materials and direct labor, amounted to $561.0 million. This resulted in a full-year gross profit of $195.5 million. Consequently, the gross profit as a percentage of net sales for the full fiscal year 2025 settled at 25.8%, a decrease from 27.2% in fiscal 2024.

Operating expenses, including investment in digital transformation.

Total operating expenses for the full fiscal year 2025 reached $162.4 million, marking a 20.0% increase from the $135.3 million reported in fiscal 2024. A portion of this increase, specifically $4.4 million, was attributed to investments in staffing resources aimed at supporting information technology and digital transformation plans. Furthermore, the company incurred significant one-time consultant costs related to these strategic initiatives; for instance, $16.5 million in total consultant costs were excluded from the reported operating income to arrive at the adjusted figure for the full year. The third quarter alone saw $2.1 million in consultant expenses for transformation initiatives, and the second quarter included $3.3 million for the same purpose.

Costs associated with navigating the uncertain tariff environment.

Daktronics, Inc. manufactures the bulk of its products, estimated at 80%, in its three U.S. facilities, with additional work done in China and Ireland. However, its supply chain sources components from over 40 countries, placing many inputs in the tariff target zone. Reciprocal tariffs announced on April 2, 2025, added to the cost uncertainty, though the ultimate financial impact could not be reliably determined at the time of reporting. The company is actively deploying several strategies to mitigate potential cost increases:

• Selective price adjustments and escalation clauses built into contracts.
• Leveraging supply chain flexibility on many components.
• Evaluating shifting international manufacturing to stateside facilities.
• Early purchasing of assets for future projects to negate some tariff impact.

R&D investment in new display technologies like narrow pixel pitch.

Specific R&D investment figures for fiscal year 2025 are not explicitly itemized separately from other operating expenses in the primary reports. However, the focus on future growth is evident in subsequent periods; for example, operating expenses in the first quarter of fiscal 2026 increased due to investments supporting product efficiency initiatives. The company's stated three-year forward objective includes achieving a 17-20% Return on Invested Capital (ROIC), which necessitates continued investment in technology like narrow pixel pitch displays.

Selling, General, and Administrative (SG&A) expenses.

The Selling, General, and Administrative expenses are aggregated within the total Operating Expenses figure of $162.4 million for fiscal year 2025. A separate, granular breakdown isolating SG&A from other operating line items like R&D or general overhead is not provided in the publicly released summary data. The total operating income for the year was $33.1 million, which adjusted to $49.6 million after excluding $16.5 million in specific non-recurring consultant and governance costs.

Here are the key cost and expense metrics for Daktronics, Inc. for the fiscal year ended April 26, 2025 (amounts in millions USD):

Cost/Expense Metric	FY 2025 Amount (USD Millions)	FY 2024 Amount (USD Millions)
Total Revenue	$756.5	$818.1
Total Cost of Revenue (Implied Manufacturing Cost)	$561.0	$596.0
Gross Profit Margin Percentage	25.8%	27.2%
Total Operating Expenses	$162.4	$135.3
Reported Operating Income	$33.1	$87.1
Adjusted Operating Income (Excluding Special Costs)	$49.6	N/A

Finance: draft 13-week cash view by Friday.

Daktronics, Inc. (DAKT) - Canvas Business Model: Revenue Streams

You're looking at how Daktronics, Inc. actually brings in the money, and the numbers for the most recent full fiscal year give a clear picture of their scale. For the fiscal year ended April 26, 2025, the company reported total net sales of $756.5 million. That's the revenue actually recognized in the books for the year. However, looking at the top of the funnel, the total product and service orders booked during FY2025 reached $781.3 million, which was actually an increase of 5.6% from the $740.2 million in orders booked in fiscal year 2024. This difference between orders and sales reflects revenue that will be recognized in future periods, which is important for forecasting their near-term top line.

Here's a quick look at those key top-line figures for the fiscal year 2025:

Metric	FY2025 Amount
Total Net Sales	$756.5 million
Total Product and Service Orders	$781.3 million

The revenue streams themselves are fundamentally tied to their core business of manufacturing and installing large-format video displays and scoreboards. While the exact split between the specific categories you mentioned isn't always itemized in the headline releases, we know the revenue is generated across these distinct channels. The backlog at year-end, which represents future revenue, stood at $341.6 million as of April 26, 2025.

The streams that feed into those totals are:

• Product sales from large-format video displays and scoreboards.
• Service and maintenance contracts for installed systems.
• Recurring revenue from Software as a Service (SaaS) solutions, such as Venus Live.

To be fair, the vast majority of the $781.3 million in orders is driven by the initial product sales, but the service and software components are critical for long-term customer stickiness and margin stability. The gross profit as a percentage of net sales for the full year 2025 was 25.8 percent, which shows the margin profile across this entire revenue mix.

You should keep an eye on the order backlog growth, which was $341.6 million at the end of FY2025, up 8% from the prior year-end backlog of $316.9 million. That backlog is the clearest indicator of future revenue from those product and service contracts.

Finance: draft 13-week cash view by Friday.