Daktronics, Inc. (DAKT): Canvas du modèle d'entreprise [Jan-2025 Mise à jour]

Dans le monde dynamique de la technologie des affichages visuels, Daktronics, Inc. (DAKT) émerge comme une force pionnière, transformant la façon dont les industries communiquent et engagent le public à travers des solutions LED de pointe. Des stades sportifs électrisants à la révolution des systèmes d'information de transport, cette entreprise innovante s'est stratégiquement positionnée en tant que leader mondial des technologies d'affichage numérique. En mélangeant de manière transparente l'ingénierie avancée, des solutions personnalisables et un soutien complet, Daktronics a conçu un modèle commercial robuste qui s'étend bien au-delà de la simple fabrication d'écran, créant des expériences visuelles immersives dans divers secteurs.

Daktronics, Inc. (DAKT) - Modèle commercial: partenariats clés

Fabricants d'affichage LED et fournisseurs de technologies

Daktronics collabore avec plusieurs fournisseurs de technologies pour améliorer ses capacités de fabrication d'affichage:

Catégorie des fournisseurs	Nombre de partenariats	Valeur d'achat annuelle
Fabricants de composants LED	12	37,6 millions de dollars
Systèmes de contrôle électronique	8	22,4 millions de dollars
Fournisseurs de semi-conducteurs	6	15,2 millions de dollars

Salles de sport et stades

Mesures de partenariat clés pour les installations d'affichage sportif:

• Installations du stade NFL: 28
• Affichages de l'Arena NBA: 24
• Toards de score du stade MLB: 30
• LIEUX SPORTS COLLEGE: 156

Établissements d'enseignement et écoles

Type d'institution	Installations totales	Revenus annuels du segment
Écoles K-12	1,247	18,3 millions de dollars
Universités	412	26,7 millions de dollars

Autorités de transport

Couverture de partenariat:

• Babillards électroniques: 37 départements de transport de l'État
• Affichages d'informations sur l'aéroport: 62 grands aéroports
• Affiche du système de transit: 18 autorités métropolitaines de transport en commun

Fabricants d'équipements agricoles

Type de partenariat	Nombre de collaborations	Revenus collaboratifs annuels
Afficher l'intégration	14	12,9 millions de dollars
Systèmes de surveillance de l'équipement	9	8,6 millions de dollars

Daktronics, Inc. (DAKT) - Modèle commercial: activités clés

Conception et fabrication de technologies d'affichage LED

En 2024, Daktronics a investi 8,4 millions de dollars dans la propriété, l'usine et l'équipement pour la fabrication de l'affichage LED. La capacité de production annuelle atteint environ 500 000 pieds carrés de panneaux d'affichage LED.

Capacité de fabrication	Volume annuel	Investissement en production
Panneaux d'affichage LED	500 000 pieds carrés	8,4 millions de dollars

Solutions de signalisation numériques personnalisées

Daktronics génère environ 185,2 millions de dollars par an à partir de solutions de signalisation numériques personnalisées sur plusieurs segments de marché.

• Signalisation numérique des sites sportifs
• Affichages numériques de transport
• Signale numérique au détail
• Affichages de communication d'entreprise

Production de tableau de bord électronique

Le segment du tableau de bord électronique génère 92,6 millions de dollars de revenus annuels. Installations de production situées à Brookings, Dakota du Sud.

Type de tableau de bord	Production annuelle	Revenu
Tableaux de bord sportifs	1 200 unités	92,6 millions de dollars

Développement de logiciels pour la gestion de l'affichage

L'investissement en R&D dans le développement de logiciels a atteint 12,3 millions de dollars au cours de l'exercice 2023. L'équipe de développement de logiciels se compose de 87 ingénieurs dévoués.

Recherche et développement des technologies d'affichage

Les dépenses totales de R&D pour 2023 étaient de 18,7 millions de dollars, ce qui représente 4,2% du total des revenus de l'entreprise.

Zone de focus R&D	Investissement	Pourcentage de revenus
Afficher les technologies	18,7 millions de dollars	4.2%

Daktronics, Inc. (DAKT) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

Daktronics exploite plusieurs installations de fabrication totalisant environ 380 000 pieds carrés d'espace de production. Les principaux emplacements de fabrication comprennent:

Emplacement	Taille de l'installation	Focus de production primaire
Brookings, Dakota du Sud	290 000 pieds carrés	Affichages LED, tableaux de bord électroniques
Sioux Falls, Dakota du Sud	90 000 pieds carrés	Systèmes de contrôle, composants électroniques

Technologies de présentation LED et électronique propriétaire

Daktronics maintient un portefeuille technologique robuste avec:

• Plus de 250 brevets actifs
• Investissement annuel de R&D de 14,3 millions de dollars (2023 Exercice)
• Technologies d'affichage spécialisées pour les marchés sportifs, transport et commerciaux

Talent d'ingénierie et de conception

Composition de la main-d'œuvre en 2023:

Catégorie des employés	Nombre d'employés
Total des employés	1,127
Personnel d'ingénierie	312
Professionnels du design	87

Portefeuille de propriété intellectuelle

Détails de brevet:

• Brevets actifs totaux: 253
• Catégories de brevets:
  • Technologie d'affichage: 112 brevets
  • Systèmes de contrôle: 86 brevets
  • Traitement du signal: 55 brevets

Grande réputation de marque

Mesures de présence du marché:

Segment de marché	Estimation de la part de marché
Expositions sportives	42%
Affichages de transport	35%
Affichages commerciaux	27%

Daktronics, Inc. (DAKT) - Modèle d'entreprise: propositions de valeur

Solutions d'affichage visuel innovantes de haute qualité

Daktronics a généré 561,7 millions de dollars de revenus totaux pour l'exercice 2023. La société propose des solutions d'affichage avec les spécifications suivantes:

Type d'affichage	Plage de résolution	Pas de pixel
Murs vidéo LED	1920x1080 à 4K	1,2 mm - 16 mm
Grands écrans de lieu	HD à Ultra HD	6 mm - 25 mm

Signalisation numérique personnalisable pour plusieurs industries

Daktronics sert divers segments de marché:

• Sports et divertissements: 75% des principaux stades de la NFL utilisent des affichages Daktronics
• Transport: plus de 500 aéroports et systèmes de transport en commun dans le monde
• Retail: 3 000+ installations de signalisation numérique
• Éducation: 1 200+ systèmes d'affichage du campus

Technologies d'affichage économes et durables en énergie

Métriques de l'efficacité énergétique:

Fonctionnalité technologique	Performance
Consommation d'énergie	Jusqu'à 40% inférieurs aux écrans traditionnels
Durée de vie	Plus de 100 000 heures d'opération

Amélioration des expériences d'engagement des fans et du public

Les technologies d'engagement comprennent:

• Suivi des statistiques en temps réel
• Plateformes de contenu interactif
• Intégration des médias sociaux

Intégration complète et support technique

Métriques de support technique:

Métrique de soutien	Performance
Centres de soutien mondiaux	7 emplacements internationaux
Temps de réponse moyen	Moins de 4 heures
Couverture de garantie	Norme de 3 à 5 ans

Daktronics, Inc. (DAKT) - Modèle d'entreprise: relations clients

Engagement de l'équipe de vente directe

Daktronics maintient une équipe de vente directe dédiée de 87 professionnels des ventes à partir de 2023, en se concentrant sur les segments de marché clés, notamment les sports, les transports et les marchés commerciaux.

Segment de l'équipe de vente	Nombre de représentants
Marché sportif	34
Marché des transports	26
Marché commercial	27

Soutien technique et consultation

L'entreprise fournit un soutien technique complet à travers:

• Hotline de support technique 24/7
• Équipe de support dédiée de 62 spécialistes techniques
• Temps de réponse moyen de 2,3 heures pour les problèmes de système critiques

Contrats de service et de maintenance à long terme

Daktronics génère 47,3 millions de dollars annuellement des contrats de service et de maintenance dans divers segments de marché.

Type de contrat	Revenus annuels
Entretien du lieu de sport	18,6 millions de dollars
Entretien du système de transport	15,7 millions de dollars
Entretien d'affichage commercial	13 millions de dollars

Plateformes de support client en ligne

Les canaux de support numériques comprennent:

• Portail client basé sur le Web avec 12 500 utilisateurs enregistrés
• Base de connaissances en libre-service avec 3 200 documents techniques
• Système de soumission de billets en ligne avec un taux de résolution de 94%

Assistance à la formation et à la mise en œuvre

Daktronics propose des programmes de formation spécialisés avec 3,2 millions de dollars investi chaque année dans l'éducation client et le support de mise en œuvre.

Programme de formation	Participants annuels
Formation technique sur place	425 clients
Modules de formation en ligne	1 850 participants
Ateliers de mise en œuvre personnalisés	276 clients

Daktronics, Inc. (DAKT) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, Daktronics maintient une équipe de vente directe dédiée d'environ 87 professionnels de la vente dans plusieurs segments de marché.

Segment du canal de vente	Nombre de représentants commerciaux
Salles sportives	32
Transport	22
Diffusion / publicité	18
Affichages spécialisés	15

Plateforme de commerce électronique en ligne

Daktronics exploite une plate-forme de vente numérique avec 4,2 millions de dollars de volume de transactions en ligne pour 2024.

Salons et expositions commerciales de l'industrie

La société participe à 17 grands salons de commerce de l'industrie chaque année, avec une portée estimée à 42 000 clients potentiels.

Catégorie de salon	Participation annuelle
Conférences de technologie sportive	5
Expositions de signalisation numérique	6
Événements technologiques de transport	4
Émissions de technologie de diffusion	2

Représentants du fabricant

Daktronics travaille avec 43 entreprises représentatives des fabricants indépendants couvrant diverses régions géographiques.

• Représentants nord-américains: 22
• Représentants européens: 12
• Représentants Asie-Pacifique: 9

Marketing numérique et site Web d'entreprise

Le site Web de l'entreprise génère environ 127 000 visiteurs mensuels uniques avec un budget de marketing numérique de 1,3 million de dollars pour 2024.

Canal de marketing numérique	Métriques d'engagement mensuel
Trafic	127 000 visiteurs uniques
LinkedIn adepte	42,500
Abonnés Twitter	18,700
Dépenses publicitaires numériques	1,3 million de dollars par an

Daktronics, Inc. (DAKT) - Modèle d'entreprise: segments de clientèle

Franchises sportives et stades

Daktronics sert des lieux sportifs majeurs avec des solutions d'affichage sur plusieurs ligues et niveaux:

Ligue / segment	Nombre de sites	Pénétration estimée du marché
Stades de la NFL	32	87%
Arenas NBA	30	93%
MLB BallParks	30	90%
Stades de division I de la NCAA	130	75%

Établissements d'enseignement

Daktronics fournit des solutions d'affichage pour les environnements académiques:

• Écoles K-12 avec des tableaux de bord numériques: 12 500
• Campus universitaires / universitaires avec systèmes d'affichage: 1 800
• Pénétration totale du marché de l'éducation: 65%

Autorités de transport

Solutions d'affichage numérique et affichage d'informations pour les secteurs du transport:

Segment des transports	Installations
Aéroports	287 grands aéroports
Systèmes routiers / transport	42 services de transport d'État
Gares	156 stations majeures

Organisations gouvernementales

Déploiements d'opinion du gouvernement fédéral et de l'État:

• Installations fédérales avec des systèmes d'affichage: 378
• Installations du gouvernement de l'État: 1 245
• Projets gouvernementaux municipaux: 2 300

Entreprises commerciales et commerciales

Solutions de signalisation et d'affichage numériques dans les secteurs commerciaux:

Segment de vente au détail	Installations estimées
Centres commerciaux	1,100
Chaînes de détail	387
Campus d'entreprise	642

Daktronics, Inc. (DAKT) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2023, Daktronics a déclaré des coûts de fabrication totaux de 315,2 millions de dollars. La rupture des dépenses de production comprend:

Catégorie de coûts	Montant ($)
Coût des matières premières	187,600,000
Travail direct	62,300,000
Fabrication des frais généraux	65,300,000

Investissements de recherche et développement

Daktronics alloués 29,4 millions de dollars à la recherche et au développement au cours de l'exercice 2023, représentant 6,2% du total des revenus.

• Personnel R&D: 185 employés
• Demandes de brevet déposées: 12
• Nouvelles initiatives de développement de produits: 7

Coûts opérationnels des ventes et du marketing

Les dépenses de vente et de marketing pour l'exercice 2023 ont totalisé 45,7 millions de dollars.

Catégorie de dépenses de marketing	Montant ($)
Compensation du personnel des ventes	22,100,000
Matériel publicitaire et promotionnel	8,600,000
Défairs commerciaux et dépenses d'événements	5,900,000
Canaux de marketing numérique	9,100,000

Maintenance des infrastructures technologiques

Les coûts de maintenance des infrastructures technologiques pour l'exercice 2023 étaient 18,6 millions de dollars.

• Investissements de mise à niveau des infrastructures informatiques: 7,2 millions de dollars
• Systèmes de cybersécurité: 3,4 millions de dollars
• Cloud Computing et licences logicielles: 5,9 millions de dollars
• Systèmes de réseau et de communication: 2,1 millions de dollars

Compensation et formation des employés

Les frais totaux de rémunération et de formation des employés pour l'exercice 2023 sont équipés de 142,5 millions de dollars.

Catégorie de compensation	Montant ($)
Salaires de base	112,600,000
Bonus de performance	15,300,000
Programmes de formation des employés	4,700,000
Avantages et assurance	9,900,000

Daktronics, Inc. (DAKT) - Modèle commercial: Strots de revenus

Ventes d'équipement d'affichage numérique

Pour l'exercice 2023, Daktronics a déclaré un chiffre d'affaires total de 581,4 millions de dollars. Les ventes d'équipements d'affichage numérique représentaient une partie importante de ces revenus.

Catégorie de produits	Revenus (2023)	Pourcentage du total des revenus
Segment sportif	220,5 millions de dollars	37.9%
Segment commercial	181,2 millions de dollars	31.2%
Segment des transports	89,7 millions de dollars	15.4%
Segment des événements en direct	90,0 millions de dollars	15.5%

Services d'installation

Les services d'installation ont contribué environ 45,3 millions de dollars au total des revenus au cours de l'exercice 2023.

Contrats de maintenance en cours

Les contrats de maintenance ont généré environ 36,8 millions de dollars de revenus récurrents pour l'exercice 2023.

Licence et support logiciels

• Revenus de licences logicielles: 22,5 millions de dollars
• Services de support technique: 17,6 millions de dollars

Pièces et composants de remplacement

Les ventes de pièces et de composants de remplacement représentaient environ 25,4 millions de dollars de revenus pour l'exercice 2023.

Flux de revenus	Montant (2023)
Ventes d'équipement d'affichage numérique	581,4 millions de dollars
Services d'installation	45,3 millions de dollars
Contrats de maintenance	36,8 millions de dollars
Licence de logiciel	22,5 millions de dollars
Support technique	17,6 millions de dollars
Pièces de rechange	25,4 millions de dollars

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.