LSI Industries Inc. (LYTS): Business Model Canvas [Jan-2025 Mis à jour]

Dans le monde dynamique des solutions d'éclairage innovantes, LSI Industries Inc. (Lyts) apparaît comme une force transformatrice, naviguant stratégiquement dans le paysage complexe de la technologie LED et de la conception des infrastructures. En fabriquant méticuleusement un modèle commercial qui pose l'ingénierie de pointe, les technologies durables et les approches complètes centrées sur le client, la société s'est positionnée comme un acteur pivot pour révolutionner les écosystèmes d'éclairage commercial, industriel et municipal. Cette exploration de la toile du modèle commercial de LSI Industries révèle un plan sophistiqué qui entrelace les prouesses technologiques, les partenariats stratégiques et les solutions axées sur la valeur sur plusieurs segments de marché.

LSI Industries Inc. (LYTS) - Modèle d'entreprise: partenariats clés

Fabricants et fournisseurs d'éclairage LED

LSI Industries maintient des partenariats stratégiques avec plusieurs fabricants de composants d'éclairage LED:

Partenaire	Focus de partenariat	Volume de l'offre annuelle
Cree a mené	Source de puces et de modules LED	1,2 million d'unités LED
Semi-conducteurs Osram Opto	Intégration avancée de la technologie LED	850 000 composants LED

Distributeurs électriques et grossistes

Les partenariats de distribution clés comprennent:

• Graybar Electric Company
• Distribution Wesco
• Sonepar Amérique du Nord

Distributeur	Volume des ventes annuelles	Couverture du marché
Gris électrique	6,3 millions de dollars en produits LSI	42 États américains
Distribution Wesco	5,1 millions de dollars en produits LSI	38 États américains

Entreprises de construction commerciale et industrielle

Réseaux de partenariat de construction importants:

• Turner Construction Company
• Skanska USA
• Construction PCL

Partenaire de construction	Types de projet	Valeur annuelle du projet
Turner Construction	Installations d'éclairage commercial	12,7 millions de dollars
Skanska USA	Solutions d'éclairage des infrastructures	9,5 millions de dollars

Partenaires d'intégration technologique

Collaborations technologiques stratégiques:

• Systèmes Cisco
• Éclairage de Hubbell
• Lutron Electronics

Partenaire technologique	Focus d'intégration	Revenus collaboratifs annuels
Systèmes Cisco	Solutions de réseau d'éclairage intelligent	4,2 millions de dollars
Éclairage de Hubbell	Systèmes de contrôle avancés	3,8 millions de dollars

LSI Industries Inc. (Lyts) - Modèle d'entreprise: Activités clés

Éclairage LED Conception et fabrication du produit

LSI Industries a déclaré 168,3 millions de dollars de revenus totaux pour l'exercice 2023, avec une partie importante dérivée des gammes de produits d'éclairage LED.

Catégorie de produits	Volume de production annuel	Lieux de fabrication
Luminaires dirigés	375 000 unités	Cincinnati, Ohio Facility
Solutions de rénovation LED	250 000 unités	Cincinnati, Ohio Facility

Développement de solutions d'infrastructure électrique

LSI Industries maintient un investissement en R&D dédié d'environ 4,2 millions de dollars par an pour le développement de solutions d'infrastructure.

• Infrastructure électrique Le portefeuille de produits s'étend sur des secteurs commerciaux et industriels
• Concentrez-vous sur les solutions d'infrastructure électrique éconergétique
• Développement continu des technologies d'éclairage intelligentes

Ingénierie du système d'éclairage personnalisé

L'ingénierie personnalisée représente environ 22% du total des revenus commerciaux de LSI.

Type de service d'ingénierie	Projets annuels terminés	Valeur moyenne du projet
Conception d'éclairage commercial	185 projets	75 000 $ par projet
Solutions d'éclairage industrielles	95 projets	120 000 $ par projet

Recherche et innovation des produits

LSI Industries a alloué 5,1 millions de dollars à la recherche et à l'innovation au cours de l'exercice 2023.

• 5 demandes de brevet actives dans la technologie d'éclairage
• 3 nouvelles gammes de produits développées au cours des 18 derniers mois
• Collaboration avec 2 centres de recherche universitaires

Ventes et commercialisation des technologies d'éclairage

Les dépenses de marketing et de vente ont atteint 12,6 millions de dollars au cours de l'exercice 2023.

Canal de vente	Contribution des revenus	Segment de marché
Ventes directes	62% des revenus totaux	Commercial et industriel
Réseau de distribution	38% des revenus totaux	Marchés de vente au détail et spécialisés

LSI Industries Inc. (LYTS) - Modèle d'entreprise: Ressources clés

Installations de fabrication avancées

LSI Industries exploite des installations de fabrication situées à Cincinnati, Ohio. Espace de fabrication total: 160 000 pieds carrés.

Emplacement de l'installation	Capacité de fabrication	Focus de production primaire
Cincinnati, oh	160 000 pieds carrés	Éclairage LED, produits électriques

Technologie de LED et d'éclairage propriétaire

Depuis l'exercice 2023, LSI détient 17 brevets actifs liés aux technologies d'éclairage.

• Brevets de conception Luminaire LED
• Technologies du système de contrôle d'éclairage intelligent
• Solutions d'éclairage économes en énergie

Expertise en ingénierie et en conception

Composition de l'équipe d'ingénierie à partir de 2024:

Département	Nombre d'ingénieurs
R&D Engineering	42
Conception de produits	28

Portefeuille de propriété intellectuelle

Répartition des propriétés intellectuelles:

• Brevets actifs totaux: 17
• Demandes de brevet en instance: 5
• Inscriptions de la marque: 9

Équipe de gestion expérimentée

Poste de direction	Années en entreprise
PDG	12
Directeur financier	8
CTO	15

LSI Industries Inc. (Lyts) - Modèle d'entreprise: propositions de valeur

Solutions d'éclairage économes en énergie

LSI Industries Inc. a déclaré 148,13 millions de dollars de revenus totaux pour l'exercice 2023. Les solutions d'éclairage économes en énergie de la société représentaient environ 42% de leur portefeuille de produits.

Catégorie de produits	Évaluation de l'efficacité énergétique	Volume des ventes annuelles
Systèmes d'éclairage LED	Jusqu'à 75% d'économies d'énergie	62,2 millions de dollars
Contrôles d'éclairage intelligents	Jusqu'à 60% de réduction d'énergie	23,7 millions de dollars

Systèmes d'infrastructure et d'éclairage personnalisés

LSI Industries fournit des solutions d'éclairage spécialisées dans plusieurs secteurs.

• Éclairage d'infrastructure commerciale
• Illumination des installations industrielles
• Conception d'éclairage architectural
• Systèmes d'infrastructure de transport

Technologies d'éclairage rentables

Réduction du coût du cycle de vie des produits moyens: 35% par rapport aux technologies d'éclairage traditionnelles.

Type de technologie	Investissement initial	Économies de coûts à 5 ans
Solutions de rénovation LED	$15,000	$37,500
Contrôles d'éclairage intelligents	$22,000	$55,000

Produits durables et respectueux de l'environnement

Réduction des émissions de carbone par le portefeuille de produits: estimé 22 500 tonnes métriques par an.

• Produits conformes ROHS
• Solutions certifiées Energy Star
• Composants d'éclairage recyclables

Services complets de conception d'éclairage et de mise en œuvre

Revenus de service pour l'exercice 2023: 18,6 millions de dollars

Catégorie de service	Valeur moyenne du projet	Volume de services annuel
Consultation d'éclairage	$45,000	126 projets
Services de mise en œuvre	$95,000	72 projets

LSI Industries Inc. (Lyts) - Modèle d'entreprise: relations avec les clients

Engagement de l'équipe de vente directe

LSI Industries emploie une équipe de vente directe de 47 professionnels au quatrième trimestre 2023, ciblant les marchés d'éclairage commerciaux, industriels et municipaux.

Canal de vente	Nombre de représentants commerciaux	Couverture géographique
Éclairage commercial	22	États-Unis
Éclairage industriel	15	Amérique du Nord
Éclairage municipal	10	Sélectionnez les marchés régionaux

Soutien technique et consultation

LSI Industries fournit un soutien technique par le biais d'une équipe dédiée de 18 professionnels de l'ingénierie.

• Temps de réponse moyen: 2,5 heures
• Canaux de support: téléphone, e-mail, chat en ligne
• Budget de soutien technique annuel: 1,2 million de dollars

Contrats de service à long terme

Depuis l'exercice 2023, LSI Industries maintient 76 contrats de service à long terme avec des clients commerciaux et municipaux clés.

Type de contrat	Nombre de contrats	Valeur du contrat moyen
Entretien d'éclairage commercial	42	$175,000
Éclairage des infrastructures municipales	34	$250,000

Plateformes de support client en ligne

LSI Industries exploite une infrastructure de soutien numérique complète.

• Portail de support du site Web: actif depuis 2019
• Interactions annuelles de soutien numérique: 14 672
• Taux de résolution en libre-service client: 68%

Approche de développement de produits collaboratifs

LSI Industries investit dans le développement de produits collaboratifs avec des clients clés.

Métrique de collaboration R&D	2023 données
Nombre de projets de développement conjoints	12
Budget de collaboration R&D	3,4 millions de dollars
Les lancements de nouveaux produits à partir de la collaboration	5

LSI Industries Inc. (Lyts) - Modèle d'entreprise: canaux

Force de vente directe

En 2024, LSI Industries maintient une équipe de vente interne d'environ 47 représentants des ventes directes. La force de vente couvre plusieurs segments de marché, notamment:

• Solutions d'éclairage
• Infrastructure électrique
• Signalisation et graphiques

Réseaux de distribution électrique

Canal de distribution	Nombre de partenaires	Couverture géographique
Distributeurs en gros électrique	126	48 États américains
Sociétés d'approvisionnement électriques régionales	73	Amérique du Nord

Catalogue de produits en ligne et plateforme de commerce électronique

Statistiques du canal de vente numérique pour 2024:

• Trafic de site Web: 342 000 visiteurs mensuels
• Catalogue de produits en ligne: 1 247 listes de produits distincts
• Volume de transaction du commerce électronique: 8,3 millions de dollars par an

Salons et expositions commerciales de l'industrie

Mesures de participation annuelle des salons commerciaux:

Type d'événement	Nombre de spectacles	Total des exposants portée
Conférences d'éclairage nationales	12	7 500 professionnels de l'industrie
Expositions d'infrastructures électriques	8	5 200 clients potentiels

Réseaux représentatifs du fabricant

Composition du réseau représentatif du fabricant:

• Total des entreprises représentatives: 64
• Couverture géographique: 50 États américains et Canada
• Taux de commission moyen: 7,2%

LSI Industries Inc. (LYTS) - Modèle d'entreprise: segments de clientèle

Développeurs de bâtiments commerciaux

LSI Industries sert des développeurs de bâtiments commerciaux avec des solutions d'éclairage et d'infrastructure.

Segment de marché	Valeur annuelle estimée	Taux de pénétration
Immobilier commercial	42,3 millions de dollars	18.5%
Éclairage complexe de bureaux	12,7 millions de dollars	22.3%

Projets d'infrastructure municipale

LSI Industries fournit des solutions d'éclairage spécialisées pour les infrastructures municipales.

• Projets d'éclairage de rue: 8,6 millions de dollars de revenus annuels
• Éclairage de l'espace public: 5,4 millions de dollars de revenus annuels
• Infrastructure de la ville intelligente: 3,2 millions de dollars de revenus annuels

Industries de la vente au détail et de l'hôtellerie

Solutions d'éclairage ciblées pour les secteurs de la vente au détail et de l'hôtellerie.

Segment de l'industrie	Revenus annuels	Part de marché
Magasins de détail	15,9 millions de dollars	15.7%
Chaînes d'hôtel	7,3 millions de dollars	11.2%

Installations industrielles et manufacturières

LSI Industries fournit des solutions d'éclairage spécialisées pour les environnements industriels.

• Éclairage des installations de fabrication: 22,1 millions de dollars de revenus annuels
• Éclairage de l'entrepôt: 9,5 millions de dollars de revenus annuels
• Appareils industriels hautes performances: 6,8 millions de dollars de revenus annuels

Gouvernement et établissements d'enseignement

Solutions d'éclairage complètes pour les organisations du secteur public.

Secteur	Valeur du contrat annuel	Nombre de projets
Bâtiments du gouvernement	6,7 millions de dollars	47 projets
Installations éducatives	11,2 millions de dollars	83 projets

LSI Industries Inc. (Lyts) - Modèle d'entreprise: Structure des coûts

Frais de fabrication et de production

Pour l'exercice 2023, LSI Industries a déclaré des coûts de fabrication totaux de 132,4 millions de dollars. La rupture des dépenses de production comprend:

Catégorie de coûts	Montant ($)
Travail direct	38,600,000
Matières premières	62,800,000
Fabrication des frais généraux	30,900,000

Investissements de recherche et développement

LSI Industries a alloué 9,2 millions de dollars aux frais de recherche et de développement au cours de l'exercice 2023, ce qui représente 3,8% des revenus totaux.

• Taille de l'équipe R&D: 45 employés à temps plein
• Principaux domaines d'intervention: technologies d'éclairage LED et solutions d'infrastructure intelligentes

Coûts opérationnels des ventes et du marketing

Les frais de vente et de marketing pour l'exercice 2023 ont totalisé 22,6 millions de dollars, notamment:

Catégorie de dépenses de marketing	Montant ($)
Compensation du personnel des ventes	14,300,000
Matériel publicitaire et promotionnel	4,900,000
Frais de recours au salon et aux conférences	3,400,000

Gestion de la chaîne d'approvisionnement et de la logistique

Les coûts de la chaîne d'approvisionnement et de la logistique pour l'exercice 2023 étaient de 18,3 millions de dollars, avec des composants clés:

• Transport et fret: 7,6 millions de dollars
• Opérations d'entrepôt: 5,9 millions de dollars
• Gestion des stocks: 4,8 millions de dollars

Maintenance des infrastructures technologiques

Les frais de maintenance des infrastructures technologiques pour l'exercice 2023 s'élevaient à 6,5 millions de dollars, couvrant:

Catégorie d'infrastructure technologique	Montant ($)
Systèmes informatiques et logiciels	3,200,000
Mises à niveau matériel	1,900,000
Investissements en cybersécurité	1,400,000

LSI Industries Inc. (LYTS) - Modèle d'entreprise: sources de revenus

Ventes de produits d'éclairage LED

Pour l'exercice 2023, LSI Industries a déclaré des ventes nettes totales de 127,5 millions de dollars. Les ventes de produits d'éclairage LED constituaient une partie importante de ces revenus.

Catégorie de produits	Revenus (2023)	Pourcentage des ventes totales
Solutions d'éclairage LED	82,3 millions de dollars	64.5%
Produits d'éclairage traditionnels	45,2 millions de dollars	35.5%

Services de conception du système d'éclairage personnalisés

Les services de conception personnalisés ont généré environ 8,7 millions de dollars de revenus pour l'exercice 2023.

• Conception d'éclairage commercial
• Solutions d'éclairage industrielles
• Conseil d'éclairage architectural

Contrats de solution d'infrastructure

Les contrats d'infrastructure ont contribué 22,4 millions de dollars à la source de revenus de LSI en 2023.

Type de contrat	Revenu	Secteurs clés
Infrastructure municipale	12,6 millions de dollars	Éclairage de rue, systèmes de parcs
Infrastructure commerciale	9,8 millions de dollars	Parkings, éclairage sur le campus

Accords de maintenance et de soutien continus

Les contrats de maintenance ont généré 14,2 millions de dollars de revenus récurrents pour l'exercice 2023.

• Accords de service annuels
• Services de réparation d'urgence
• Support d'optimisation du système

Services de licence et de conseil technologique

Les licences technologiques et le conseil ont généré 5,9 millions de dollars de revenus en 2023.

Catégorie de service	Revenu	Description
Licence de technologie	3,4 millions de dollars	Licence de propriété intellectuelle
Services de conseil	2,5 millions de dollars	Conseil technique et mise en œuvre

LSI Industries Inc. (LYTS) - Canvas Business Model: Value Propositions

You're looking at the core reasons why national brands choose LSI Industries Inc. for their physical locations. It's about bundling complex needs-lighting and displays-into one managed package, which simplifies execution for multi-site rollouts.

The value proposition centers on providing integrated, turnkey lighting and display solutions for national brands. This approach is supported by the company's structure, where the Display Solutions Segment represented 57% of the fiscal 2025 net sales, totaling $325.020 million out of total net sales of $573.4 million. The Lighting Segment, which includes American-made fixtures, accounted for the remaining 43%.

Energy efficiency is a major selling point, especially with LED products. If we compare the average efficacy of every LED fixture sold by LSI Industries in 2024 against older bulb systems, the products helped customers reduce their energy consumption for lighting by up to 67%. Furthermore, their current outdoor and indoor lighting products reduce energy usage by 44 to 90 percent compared to traditional systems. Adding lighting control systems, like the AirLink Blue wireless outdoor lighting control system, provides an additional 12% reduction in energy consumption.

For retail environments, the offering includes custom, American-made retail fixtures and refrigerated displays. The company has deepened its display capabilities through strategic acquisitions, such as the purchase of Canada's Best Holdings (CBH) for an all-cash price of $24.0 million, plus a potential $7.0 million earnout. This builds upon prior acquisitions like JSI Store Fixtures in 2021 and EMI Industries in 2024.

The service model emphasizes full-service project management, covering the entire process from design to installation. The acquisition of CBH specifically reinforces a vertically integrated, built-to-order solution that spans the full project lifecycle, including fabrication and installation, for customers ranging from regional chains to national brands with thousands of sites.

A key differentiator in the display solutions is the commitment to eco-friendly technology. LSI Industries introduced the eco-friendly R-290 refrigerant across its JSI and EMI product lines in fiscal 2025. R-290 has an ultra-low Global Warming Potential (GWP) of just 3, which is a significant improvement over traditional HFC refrigerants that can have GWPs over 4,000. Studies suggest that using R-290 refrigerants can result in up to 15% energy savings compared to traditional refrigerants, directly lowering operational costs for retailers.

Here's a quick look at the quantitative value LSI Industries delivers across these key areas:

Value Proposition Metric	Data Point	Context/Basis
Maximum Reported Energy Reduction (LED vs. Old)	67%	Average efficacy comparison for fixtures sold in 2024
R-290 Refrigerant GWP	3	Compared to traditional HFCs over 4,000
Additional Energy Savings (Controls)	12%	From utilizing lighting control systems
FY2025 Display Solutions Revenue	$325.020 million	Represents 57% of total net sales
CBH Acquisition Cash Price	$24.0 million	All-cash purchase price in Q3 FY2025
FY2025 Total Net Sales	$573.4 million	Record sales for the full year ended June 30, 2025

The company's focus on American-made lighting fixtures in the Lighting Segment, combined with the custom millwork and fixture expertise gained through acquisitions like CBH, means you get tailored products designed for specific brand experiences.

• Integrated, turnkey solutions for national brands.
• LED energy reduction up to 67% based on 2024 sales comparison.
• Custom, American-made retail fixtures and refrigerated displays.
• Full-cycle project management from design to installation.
• Eco-friendly R-290 refrigerant with GWP of 3 in display solutions.

The Display Solutions segment saw sales of $325.020 million in fiscal 2025, a significant increase from $207.225 million in fiscal 2024, showing the immediate value added by integrated display capabilities.

LSI Industries Inc. (LYTS) - Canvas Business Model: Customer Relationships

You're looking at how LSI Industries Inc. keeps its major clients locked in, which is key since their whole model relies on serving national brands across verticals like petroleum/convenience stores (c-store), quick-service restaurants (QSR), and automotive.

For those big, complex jobs, LSI Industries Inc. deploys an integrated, solutions-based model that acts like a dedicated partnership. They provide comprehensive project management services specifically to support those large-scale product rollouts for their clients. This isn't just selling lights or signs; it's managing the whole execution for national brands. For instance, in the Display Solutions Segment, they execute on a significant backlog of multi-year contracts with large national and international refueling/c-store customer programs. That focus on execution is what keeps the revenue flowing.

The depth of engagement comes from their vertically integrated approach, which they continue to build upon through strategic buys. When LSI Industries Inc. acquired Canada's Best Holdings (CBH) in March 2025, they specifically noted that CBH had well-established, long-term customer relationships. CBH itself serves customers ranging from small regional chains to national and international brands with thousands of sites. This acquisition immediately expanded LSI Industries Inc.'s capability to attract new customers and provided significant commercial synergy potential through cross-selling, deepening that full-service partner feel.

The reliance on long-term commitments from major players is clear in their segment performance. Take the refueling/c-store market, a core area for their Display Solutions Segment; sales to these customers increased by more than 60% year-over-year in the second quarter of fiscal 2025. This suggests those national chain contracts are translating directly into substantial, near-term sales activity. The company's overall performance reflects this customer focus, closing fiscal year 2025 with record sales of $573.4 million, up 22% year-over-year.

Here's a quick look at the financial scale supporting these relationships as of late 2025:

Metric	Value (FY2025 Ended 6/30/2025)	Latest Quarter (Q1 FY2026 Ended 9/30/2025)
Net Sales (TTM)	$573.4 million	$157.3 million
Year-over-Year Sales Growth (TTM)	22%	14%
Organic Sales Growth (Q1 FY2026)	N/A	7%
Adjusted EBITDA (TTM)	$55.0 million	$15.6 million (Q1 FY2026 Adj. EBITDA)

Finally, for installed systems, LSI Industries Inc. designs its products, like their energy-efficient LED lighting, for ease of installation and service. While specific service revenue isn't broken out, the emphasis on product design that simplifies maintenance is a direct way to support the customer relationship post-sale, reducing their operational headaches. This commitment to the entire lifecycle helps them stay a trusted partner as they push toward their goal of $800 million in net sales by fiscal year 2028.

LSI Industries Inc. (LYTS) - Canvas Business Model: Channels

You're looking at how LSI Industries Inc. gets its products-lighting and display solutions-into the hands of its national brand customers as of late 2025. The structure relies on a mix of direct engagement and a physical footprint across North America.

The overall scale of the business flowing through these channels for the full fiscal year ended June 30, 2025, was significant, hitting a record total net sales of $573.4 million. For context on the most recent quarter, Q1 Fiscal 2026 (ended September 30, 2025), total net sales were $157.3 million.

The channels support two primary revenue streams, which you can track:

• The Lighting Segment generated $248.4 million in net sales for the full fiscal year 2025.
• The Display Solutions Segment generated $325.0 million in net sales for the full fiscal year 2025.

Here's a quick look at the most recent quarterly revenue split, which shows the current relative weight of the end markets these channels serve:

Metric	Q1 Fiscal 2026 Sales (Ended 9/30/2025)	Percentage of Total Q1 Sales
Lighting Segment Net Sales	$69.1 million	44%
Display Solutions Segment Net Sales	$88.2 million	56%

The direct sales force targeting vertical market executives is the primary interface for securing the large, integrated contracts across sectors like QSR restaurants, gas stations, retail & grocery outlets, parking, and sports complexes. The success of this approach is reflected in the backlog growth; LSI Industries ended FY2025 with a 13% increase in company-wide backlog.

For the Lighting Segment, the use of wholesale distributors is a key component, though the exact revenue split between direct sales and wholesale isn't explicitly detailed in the latest reports. What is clear is the segment's rebound: Lighting Segment net sales in Q4 Fiscal 2025 were $72.7 million, an increase of 12% year-over-year, and Q1 Fiscal 2026 saw lighting sales climb to $69.1 million, an 18% increase over the prior year period.

The North American manufacturing and distribution network provides the physical backbone for these sales. LSI Industries employs approximately 2,000 people across 19 manufacturing plants situated in the U.S. and Canada. For example, the Houston operations alone account for 260 local team members and utilize over 230,000 square feet of production, assembly, and distribution space.

The ADAPT professional services group for delivery and installation is part of LSI's vertically integrated model, which includes design, production, and installation of solutions. While specific revenue for a group named ADAPT isn't itemized, the company does provide 'comprehensive project management services in support of large-scale product rollouts.' This service capability supports the total net sales achieved, which was $573.4 million for the full year 2025.

Finance: draft 13-week cash view by Friday.

LSI Industries Inc. (LYTS) - Canvas Business Model: Customer Segments

LSI Industries Inc. serves national brands across several key vertical markets, a strategy that has evolved from its origins as a niche manufacturer of gas station canopy lighting in 1976. The company's customer base is served through its Lighting Segment and Display Solutions Segment, with the latter heavily influenced by recent acquisitions like EMI Industries (April 2024) and Canada's Best Holdings (CBSF) (March 2025). For the twelve months ended June 30, 2025, LSI Industries reported record net sales of $573.4 million.

The revenue mix as of the first quarter of fiscal 2026 (ended September 30, 2025) shows the Display Solutions segment contributing a larger portion of sales, reflecting the success of the vertical market strategy.

Segment	Q1 FY2026 Revenue	Percentage of Q1 FY2026 Sales
Lighting Segment	$69.1 million	44%
Display Solutions Segment	$88.2 million	56%

The full fiscal year 2025 sales breakdown showed the Display Solutions segment at 57% of total sales ($325.0 million) compared to the Lighting Segment at 43% ($248.4 million).

Here's a look at the specific customer segments LSI Industries Inc. targets:

• Petroleum/Convenience Stores (C-store)
• Grocery and Pharmacy Chains
• Quick-Service Restaurants (QSR)
• Commercial Banking and Specialty Retail
• General Commercial and Industrial clients

Petroleum/Convenience Stores (C-store)

This vertical represents LSI Industries Inc.'s historical core market, primarily served by the Lighting Segment, but also significantly by Display Solutions, which includes brand imaging and signage. The refueling C-Store vertical demonstrated robust activity in fiscal 2025. For the fiscal 2025 first quarter (ended September 30, 2024), comparable sales in the refueling C-Store vertical increased by 16%. This growth was supported by high levels of new store and store renovation market activity.

Grocery and Pharmacy Chains

Grocery chains are a key focus area, particularly for the Display Solutions Segment, which provides custom fixtures and displays. Demand in this vertical has been strong, evidenced by a 90% uptick in order rates reported for the grocery vertical during the fiscal 2025 first quarter. The acquisition of CBSF in March 2025 further strengthened relationships in the grocery sector.

Quick-Service Restaurants (QSR)

QSR is another vertical where LSI Industries Inc. provides integrated lighting and display solutions. This segment experienced comparable sales growth during the fiscal 2025 first quarter. The CBSF acquisition also brought established relationships within the QSR industry.

Commercial Banking and Specialty Retail

These segments are targeted through the Display Solutions offerings, including custom store design solutions and millwork, especially following the integration of CBSF. The company is focused on deepening its presence in these vertical markets as part of its Fast Forward strategic plan.

General Commercial and Industrial clients

This group is primarily served by the Lighting Segment, which provides performance-based, energy-efficient lighting solutions for non-residential indoor and outdoor applications. Performance in this broader category can be cyclical; for instance, in the first nine months of fiscal 2025, the Lighting Segment experienced softness due to reduced large project activity, particularly within the warehouse construction sector, leading to a full-year fiscal 2025 lighting sales decline of 5% to $248.4 million. However, the Lighting Segment rebounded strongly in the fourth quarter of fiscal 2025 with 12% revenue growth, suggesting a release of delayed projects in these commercial and industrial areas.

LSI Industries Inc. (LYTS) - Canvas Business Model: Cost Structure

You're looking at the core expenses LSI Industries Inc. incurs to run its lighting and display solutions business as of late 2025. Honestly, for a manufacturer, the cost structure is dominated by what it takes to physically make and deliver the product.

The company's operational footprint is significant, requiring substantial fixed costs to maintain. LSI Industries Inc. operates throughout its 19 facilities across the US and Canada.

The cost of growth and innovation is explicitly tracked. Research and Development (R&D) spending for the fiscal year ended June 30, 2025, was $3.3 million.

Inorganic growth also drives costs, particularly upfront capital deployment. The acquisition of Canada's Best Holdings (CBH) involved an all-cash purchase price of $24.0 million.

To give you a clearer picture of the overall cost base relative to the top line for Fiscal Year 2025, here's how the major expense categories stack up against the record net sales of $573.4 million.

Cost Component	FY2025 Amount (Millions USD)	Context/Calculation
Net Sales	$573.4	Record full-year revenue.
Cost of Goods Sold (COGS)	$431.615	Calculated as Net Sales ($573.4M) minus Gross Profit ($141.785M).
Selling, General, and Administrative (SG&A) Expenses	$30.78	Reported full-year SG&A for FY2025.
Research and Development (R&D) Spending	$3.3	Actual reported R&D for FY2025.
Acquisition Cost (CBH Initial)	$24.0	All-cash purchase price for Canada's Best Holdings.
Adjusted EBITDA	$55.0	Measure of profitability before certain costs.

The COGS figure of $431.615 million directly encompasses your required line items for manufacturing and materials, though LSI Industries Inc. doesn't break those down separately in the top-line reporting. What this estimate hides is the split between direct labor, raw material and component procurement costs, and the fixed manufacturing and production overhead across those 19 sites.

We do know that LSI Industries Inc. manages raw material risk proactively. Management noted that for the Lighting Segment, most components are sourced domestically, which limits the impact of tariffs to several component categories.

The SG&A expenses, at $30.78 million for the full year, cover all the non-production costs. This includes the selling efforts, corporate overhead, and administrative functions supporting the entire operation. That's a big chunk of the operating cost base.

The structure of costs is clearly shifting as the Display Solutions segment grows faster than Lighting; this means the mix of raw materials and associated overhead is changing, too. The integration of CBH is intended to leverage shared resources, which should help drive efficiencies and potentially lower the per-unit cost structure over time.

Finance: draft 13-week cash view by Friday.

LSI Industries Inc. (LYTS) - Canvas Business Model: Revenue Streams

You're looking at the core ways LSI Industries Inc. brought in money for the fiscal year ending June 30, 2025. Honestly, the story here is the massive shift toward their Display Solutions segment.

The revenue streams are clearly segmented by their two main operating divisions, with the total sales reflecting a strong year of growth.

• Sales of Display Solutions (Custom fixtures, graphics): $325.0 million (57% of sales)
• Sales of Lighting Products (LED, outdoor/indoor): $248.4 million (43% of sales)
• Fees from project management and professional services

The Total Net Sales for Fiscal Year 2025 hit a record $573.4 million. That's a 22% increase year-over-year, which is quite a jump.

Here's the quick math on how those two primary revenue drivers stacked up for the full fiscal year 2025:

Revenue Stream Segment	Fiscal Year 2025 Net Sales (Millions USD)	Percentage of Total Sales
Display Solutions Segment	$325.0	57%
Lighting Segment	$248.4	43%
Total Net Sales	$573.4	100%

The Display Solutions segment was the primary growth engine, with its sales soaring 57% for the full year, partly fueled by the acquisition of Canada's Best Store Fixtures in March 2025. This segment's revenue for the year was $325.0 million.

The Lighting Segment, while showing a rebound in the fourth quarter, saw its full-year net sales decline by 5% compared to fiscal 2024, landing at $248.4 million for fiscal 2025. Still, the fourth quarter for Lighting was its strongest in two years, bringing in $72.7 million, up 12% year-over-year.

LSI Industries Inc. also generates revenue through services supporting large-scale product rollouts, which includes project management. While the exact dollar amount for these fees isn't broken out separately from the segment sales in the primary filings, it is an embedded part of the value proposition, especially within the Display Solutions segment where integrated solutions are emphasized.

You should note that the sales transacted in Canadian dollars and pesos from subsidiaries represented only about 3% of the total fiscal 2025 consolidated net sales.

Finance: draft 13-week cash view by Friday.