Revenue growth remains highly volatile, swinging from a 20.1% contraction in 2025Q4 to a 20.9% expansion in 2026Q4, while gross margins have struggled to stabilize above the 28.0% level.
| Metric | May'26 | Apr'25 | Apr'24 | Apr'23 | Apr'22 | Apr'21 | Apr'20 | Apr'19 | Apr'18 | Apr'17 | Apr'16 | Apr'15 | Apr'14 | Apr'13 | Apr'12 | Apr'11 | Apr'10 | Apr'09 | Apr'08 | Apr'07 | Apr'06 | Apr'05 | Apr'04 | Apr'03 | Apr'02 | Apr'01 | Apr'00 | Apr'99 | Apr'98 | Apr'97 |
|---|
| Sales/Revenue | 838.71M | 756.48M | 818.08M | 754.2M | 610.97M | 482.03M | 608.93M | 569.7M | 610.53M | 586.54M | 570.17M | 615.94M | 551.97M | 518.32M | 489.53M | 441.68M | 393.19M | 581.93M | 499.68M | 433.2M | 309.37M | 230.35M | 209.91M | 177.76M | 148.77M | 152.33M | 123.35M | 95.9M | 69.9M | 62.6M |
| Revenue Growth % | 10.87% | -7.53% | 8.47% | 23.44% | 26.75% | -20.84% | 6.89% | -6.69% | 4.09% | 2.87% | -7.43% | 11.59% | 6.49% | 5.88% | 10.83% | 12.33% | -32.43% | 16.46% | 15.35% | 40.03% | 34.31% | 9.74% | 18.08% | 19.49% | -2.34% | 23.49% | 28.62% | 37.2% | 11.66% | 19.24% |
| Cost of Goods Sold | 609.7M | 560.99M | 595.64M | 602.84M | 494.27M | 361.45M | 470.23M | 439.41M | 464.86M | 446.12M | 449.15M | 471.36M | 410.26M | 384.43M | 376.09M | 330.19M | 298.63M | 426.57M | 352.09M | 306.6M | 215.3M | 157.14M | 137.44M | 118.63M | 103.74M | 103.55M | 86.31M | 67.7M | 48.1M | 44.7M |
| COGS % of Revenue | 72.7% | 74.16% | 72.81% | 79.93% | 80.9% | 74.98% | 77.22% | 77.13% | 76.14% | 76.06% | 78.77% | 76.53% | 74.33% | 74.17% | 76.83% | 74.76% | 75.95% | 73.3% | 70.46% | 70.78% | 69.59% | 68.22% | 65.47% | 66.74% | 69.73% | 67.98% | 69.97% | 70.59% | 68.81% | 71.41% |
| Gross Profit | 229.01M | 195.49M | 222.44M | 151.35M | 116.7M | 120.58M | 138.7M | 130.29M | 145.67M | 140.41M | 121.02M | 144.58M | 141.71M | 133.89M | 113.44M | 111.48M | 94.56M | 155.36M | 147.59M | 126.6M | 94.07M | 73.21M | 72.47M | 59.13M | 45.03M | 48.78M | 37.04M | 28.2M | 21.8M | 17.9M |
| Gross Margin % | 27.3% | 25.84% | 27.19% | 20.07% | 19.1% | 25.02% | 22.78% | 22.87% | 23.86% | 23.94% | 21.23% | 23.47% | 25.67% | 25.83% | 23.17% | 25.24% | 24.05% | 26.7% | 29.54% | 29.22% | 30.41% | 31.78% | 34.53% | 33.26% | 30.27% | 32.02% | 30.03% | 29.41% | 31.19% | 28.59% |
| Gross Profit Growth % | 17.15% | -12.12% | 46.97% | 29.7% | -3.22% | -13.06% | 6.45% | -10.55% | 3.74% | 16.03% | -16.3% | 2.02% | 5.84% | 18.03% | 1.75% | 17.9% | -39.14% | 5.26% | 16.58% | 34.57% | 28.5% | 1.02% | 22.56% | 31.31% | -7.69% | 31.71% | 31.34% | 29.36% | 21.79% | 37.69% |
| Operating Expenses | 171.91M | 162.37M | 135.33M | 125.39M | 112.65M | 103.47M | 138.87M | 135.02M | 133.21M | 124.99M | 118.52M | 113.29M | 105.15M | 103.29M | 103.16M | 91.96M | 101.37M | 112.74M | 109.35M | 89.68M | 62.26M | 53.77M | 44.94M | 39.31M | 35.93M | 34.33M | 27.33M | 21.4M | 16.8M | 15.5M |
| OpEx % of Revenue | 20.5% | 21.46% | 16.54% | 16.63% | 18.44% | 21.47% | 22.8% | 23.7% | 21.82% | 21.31% | 20.79% | 18.39% | 19.05% | 19.93% | 21.07% | 20.82% | 25.78% | 19.37% | 21.88% | 20.7% | 20.12% | 23.34% | 21.41% | 22.11% | 24.15% | 22.54% | 22.15% | 22.31% | 24.03% | 24.76% |
| Selling, General & Admin | 124.7M | 123.51M | 99.59M | 95.4M | 83.64M | 76.63M | 101.09M | 99.47M | 97.68M | 95.91M | 91.61M | 88.64M | 81.78M | 80.16M | 79.66M | 73.01M | 79.45M | 91.12M | 88.52M | 74.06M | 51.09M | 43.27M | 36.81M | 32.39M | 28.49M | 25.09M | 20.03M | 15.3M | 12.3M | 11.2M |
| SG&A % of Revenue | 14.87% | 16.33% | 12.17% | 12.65% | 13.69% | 15.9% | 16.6% | 17.46% | 16% | 16.35% | 16.07% | 14.39% | 14.82% | 15.47% | 16.27% | 16.53% | 20.21% | 15.66% | 17.72% | 17.09% | 16.51% | 18.79% | 17.54% | 18.22% | 19.15% | 16.47% | 16.24% | 15.95% | 17.6% | 17.89% |
| Research & Development | 43.46M | 38.86M | 35.74M | 29.99M | 29.01M | 26.85M | 37.77M | 35.56M | 35.53M | 29.08M | 26.91M | 24.65M | 23.38M | 23.13M | 23.51M | 18.95M | 21.92M | 21.62M | 20.83M | 15.63M | 11.17M | 10.5M | 8.13M | 6.92M | 7.44M | 5.68M | 4.29M | 3.8M | 2.4M | 2.2M |
| R&D % of Revenue | 5.18% | 5.14% | 4.37% | 3.98% | 4.75% | 5.57% | 6.2% | 6.24% | 5.82% | 4.96% | 4.72% | 4% | 4.23% | 4.46% | 4.8% | 4.29% | 5.58% | 3.72% | 4.17% | 3.61% | 3.61% | 4.56% | 3.87% | 3.89% | 5% | 3.73% | 3.48% | 3.96% | 3.43% | 3.51% |
| Other Operating Expenses | 3.75M | 0 | 0 | 0 | 0 | 0 | -541K | -1.09M | -537K | -354K | -128K | -498K | -355K | -839K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 3.56M | 3.01M | 2.3M | 2.1M | 2.1M |
| Operating Income | 57.1M | 33.12M | 87.11M | 25.96M | 4.05M | 17.11M | 97K | -4.78M | 12.46M | 15.42M | 2.5M | 31.29M | 36.56M | 30.6M | 10.28M | 19.53M | -6.73M | 42.62M | 38.24M | 36.91M | 31.82M | 19.44M | 27.53M | 19.82M | 9.1M | 10.89M | 9.71M | 6.8M | 5M | 2.4M |
| Operating Margin % | 6.81% | 4.38% | 10.65% | 3.44% | 0.66% | 3.55% | 0.02% | -0.84% | 2.04% | 2.63% | 0.44% | 5.08% | 6.62% | 5.9% | 2.1% | 4.42% | -1.71% | 7.32% | 7.65% | 8.52% | 10.28% | 8.44% | 13.12% | 11.15% | 6.12% | 7.15% | 7.87% | 7.09% | 7.15% | 3.83% |
| Operating Income Growth % | 72.41% | -61.98% | 235.52% | 541.72% | -76.35% | 17537.11% | 102.03% | -138.39% | -19.2% | 518.08% | -92.02% | -14.42% | 19.47% | 197.81% | -47.38% | 390.15% | -115.79% | 11.44% | 3.6% | 16.03% | 63.69% | -29.4% | 38.87% | 117.79% | -16.42% | 12.15% | 42.81% | 36% | 108.33% | 900% |
| EBITDA | 76.44M | 52.66M | 104.86M | 42.96M | 19.44M | 34.19M | 17.82M | 13.94M | 30.06M | 33.98M | 19.35M | 46.25M | 51.06M | 46.21M | 27.79M | 39.17M | 15.53M | 67.06M | 59.36M | 50.72M | 40.78M | 26.86M | 33.92M | 25.75M | 14.28M | 14.96M | 12.72M | 9.1M | 7.1M | 4.5M |
| EBITDA Margin % | 9.11% | 6.96% | 12.82% | 5.7% | 3.18% | 7.09% | 2.93% | 2.45% | 4.92% | 5.79% | 3.39% | 7.51% | 9.25% | 8.91% | 5.68% | 8.87% | 3.95% | 11.52% | 11.88% | 11.71% | 13.18% | 11.66% | 16.16% | 14.49% | 9.6% | 9.82% | 10.31% | 9.49% | 10.16% | 7.19% |
| EBITDA Growth % | 45.14% | -49.77% | 144.09% | 120.97% | -43.13% | 91.78% | 27.9% | -53.64% | -11.54% | 75.61% | -58.16% | -9.41% | 10.5% | 66.25% | -29.04% | 152.21% | -76.84% | 12.97% | 17.05% | 24.35% | 51.83% | -20.8% | 31.71% | 80.33% | -4.54% | 17.63% | 39.76% | 28.17% | 57.78% | 200% |
| D&A (Non-Cash Add-back) | 19.34M | 19.55M | 17.74M | 16.99M | 15.39M | 17.08M | 17.73M | 18.72M | 17.6M | 18.56M | 16.86M | 14.97M | 14.5M | 15.61M | 17.52M | 19.64M | 22.26M | 24.45M | 21.12M | 13.8M | 8.97M | 7.43M | 6.39M | 5.93M | 5.18M | 4.07M | 3.01M | 2.3M | 2.1M | 2.1M |
| EBIT | 57.1M | -5.85M | 87.11M | 25.96M | 1.11M | 17.11M | -167K | -4.78M | 12.65M | 15.42M | 3.35M | 31.91M | 36.56M | 31.28M | 11.91M | 22.32M | -7.97M | 41.8M | 41.05M | 36.91M | 31.82M | 19.44M | 27.53M | 19.82M | 9.1M | 14.45M | 9.71M | 6.8M | 5M | 2.4M |
| Net Interest Income | 3.63M | 1.35M | -3.42M | -920K | 171K | -65K | 699K | 871K | 506K | 521K | 759K | 896K | 1.04M | 1.17M | 1.41M | 1.74M | 1.34M | 1.82M | 334K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Income | 6.06M | 5.83M | 1.53M | 207K | 171K | 230K | 805K | 1.03M | 723K | 751K | 987K | 1.12M | 1.29M | 1.52M | 1.75M | 1.92M | 1.51M | 2.07M | 1.76M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Interest Expense | 2.43M | 4.49M | 4.95M | 1.13M | 0 | 295K | 106K | 160K | 217K | 230K | 228K | 223K | 255K | 355K | 335K | 184K | 170K | 244K | 1.42M | 1.09M | 1.7M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Other Income/Expense | 1.24M | -38.97M | -33.06M | -12.71M | -2.94M | -3.05M | 158K | -216K | -31K | 167K | 631K | 398K | 684K | 329K | 1.3M | 2.61M | -1.41M | -1.06M | 1.38M | -133K | 1.85M | 2.01M | 1.1M | 740K | -961K | 3.07M | 247K | -200K | 400K | 100K |
| Pretax Income | 58.33M | -5.85M | 54.05M | 13.26M | 1.11M | 14.06M | -9K | -4.94M | 12.43M | 15.59M | 3.13M | 31.68M | 37.24M | 30.93M | 11.58M | 22.14M | -8.14M | 41.55M | 39.63M | 36.78M | 33.67M | 21.45M | 28.65M | 20.6M | 8.14M | 13.96M | 9.96M | 6.6M | 5.4M | 2.5M |
| Pretax Margin % | 6.96% | -0.77% | 6.61% | 1.76% | 0.18% | 2.92% | -0% | -0.87% | 2.04% | 2.66% | 0.55% | 5.14% | 6.75% | 5.97% | 2.36% | 5.01% | -2.07% | 7.14% | 7.93% | 8.49% | 10.88% | 9.31% | 13.65% | 11.59% | 5.47% | 9.17% | 8.07% | 6.88% | 7.73% | 3.99% |
| Income Tax | 12.96M | 4.27M | 19.43M | 6.46M | 516K | 3.13M | -500K | -3.99M | 6.87M | 5.25M | 1.06M | 10.8M | 15.04M | 8.15M | 3.09M | 7.9M | -1.15M | 15.13M | 13.41M | 12.36M | 12.71M | 5.79M | 10.91M | 8.11M | 3.25M | 5.28M | 3.73M | 2.4M | 2M | 1M |
| Effective Tax Rate % | 22.21% | -72.98% | 35.95% | 48.69% | 46.57% | 22.29% | 5555.56% | 80.62% | 55.25% | 33.65% | 34.07% | 34.09% | 40.37% | 26.35% | 26.67% | 35.67% | 14.16% | 36.4% | 33.85% | 33.59% | 37.74% | 26.98% | 38.07% | 39.36% | 39.86% | 37.77% | 37.5% | 36.36% | 37.04% | 40% |
| Net Income | 45.38M | -10.12M | 34.62M | 6.8M | 592K | 10.93M | 491K | -958K | 5.56M | 10.34M | 2.06M | 20.88M | 22.21M | 22.78M | 8.49M | 14.24M | -6.99M | 26.43M | 26.21M | 24.43M | 20.96M | 15.66M | 17.73M | 12.46M | 4.89M | 8.69M | 6.22M | 4.2M | 3.4M | 1.5M |
| Net Margin % | 5.41% | -1.34% | 4.23% | 0.9% | 0.1% | 2.27% | 0.08% | -0.17% | 0.91% | 1.76% | 0.36% | 3.39% | 4.02% | 4.39% | 1.73% | 3.23% | -1.78% | 4.54% | 5.25% | 5.64% | 6.78% | 6.8% | 8.45% | 7.01% | 3.29% | 5.7% | 5.05% | 4.38% | 4.86% | 2.4% |
| Net Income Growth % | 548.34% | -129.23% | 408.98% | 1048.99% | -94.58% | 2125.25% | 151.25% | -117.22% | -46.22% | 401.8% | -90.13% | -5.96% | -2.52% | 168.34% | -40.4% | 303.81% | -126.45% | 0.82% | 7.31% | 16.54% | 33.85% | -11.66% | 42.29% | 154.66% | -43.67% | 39.54% | 48.19% | 23.53% | 126.67% | 850% |
| Net Income (Continuing) | 45.38M | -10.12M | 34.62M | 6.8M | 592K | 10.93M | 491K | -958K | 5.56M | 10.34M | 2.06M | 20.88M | 22.21M | 22.78M | 8.49M | 14.24M | -6.99M | 26.43M | 26.21M | 24.43M | 20.96M | 15.66M | 17.73M | 12.46M | 4.89M | 8.69M | 6.22M | 4.2M | 3.4M | 1.5M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 115K | 84K | 79K | 0 | 0 | 0 | 0 |
| EPS (Diluted) | 0.92 | -0.21 | 0.74 | 0.15 | 0.01 | 0.24 | 0.01 | -0.02 | 0.12 | 0.23 | 0.05 | 0.47 | 0.51 | 0.53 | 0.20 | 0.34 | -0.17 | 0.64 | 0.63 | 0.59 | 0.52 | 0.39 | 0.44 | 0.32 | 0.13 | 0.23 | 0.17 | 0.12 | 0.10 | 0.04 |
| EPS Growth % | 538.1% | -128.38% | 393.33% | 1045.04% | -94.54% | 2122.22% | 150.7% | -117.75% | -47.83% | 360% | -89.36% | -7.84% | -3.77% | 165% | -41.18% | 300% | -126.56% | 1.59% | 6.78% | 13.46% | 33.33% | -11.36% | 37.5% | 146.15% | -43.48% | 35.29% | 41.67% | 23.08% | 122.6% | - |
| EPS (Basic) | 0.93 | -0.21 | 0.75 | 0.15 | 0.01 | 0.24 | 0.01 | -0.02 | 0.13 | 0.23 | 0.05 | 0.48 | 0.52 | 0.54 | 0.20 | 0.34 | -0.17 | 0.65 | 0.66 | 0.62 | 0.54 | 0.41 | 0.48 | 0.34 | 0.14 | 0.25 | 0.18 | 0.12 | 0.10 | 0.04 |
| Diluted Shares Outstanding | 49.38M | 47.59M | 46.54M | 45.52M | 45.33M | 45.2M | 45.32M | 44.93M | 44.87M | 44.3M | 44.46M | 44.44M | 43.76M | 42.62M | 42.3M | 42.28M | 40.91M | 41.15M | 41.34M | 41.31M | 40.51M | 40.27M | 39.87M | 38.93M | 39.14M | 37.76M | 36.61M | 35.74M | 34.87M | 34.29M |
| Basic Shares Outstanding | 48.56M | 47.59M | 45.9M | 45.4M | 45.19M | 44.99M | 45.03M | 44.93M | 44.46M | 44.11M | 43.99M | 43.51M | 42.89M | 42.28M | 41.87M | 41.42M | 40.91M | 40.54M | 39.92M | 39.22M | 38.64M | 37.88M | 37.24M | 36.64M | 36.24M | 35.45M | 35.06M | 34.64M | 34.43M | 34.29M |
| Dividend Payout Ratio | - | - | - | - | - | - | 1831.77% | - | 223.37% | 132% | 851.82% | 83.22% | 75.16% | 135.47% | 305.69% | 174.07% | - | 13.75% | 10.57% | 9.58% | 9.15% | - | - | - | - | - | - | - | - | - |
Cyclical Project Revenue Volatility
According to recent financial disclosures, Daktronics experienced a 20.9% year-over-year revenue increase in 2026Q4, yet this follows a period of significant inconsistency where quarterly growth rates fluctuated between a 20.1% contraction and double-digit expansion, reflecting the inherent lumpiness of the company's project-based business model.
The wide variance in quarterly revenue suggests that Daktronics remains heavily dependent on the timing of large-scale stadium and municipal installations. Investors should monitor whether the recent growth acceleration represents a sustainable recovery in the replacement cycle or merely the recognition of delayed, lumpy project milestones.
As reported in quarterly filings, Daktronics' gross margin reached 28.0% in 2026Q4, demonstrating a modest recovery from the 24.0% trough observed in 2026Q3, which highlights the company's ongoing struggle to maintain pricing power amidst fluctuating costs for raw materials like LED diodes and aluminum.
The inability to consistently hold gross margins above the 30% threshold suggests that Daktronics faces persistent competitive pressure from lower-cost global hardware providers. This margin profile implies that the company's profitability is highly sensitive to supply chain efficiency and the ability to pass through inflationary costs to municipal and commercial clients.
Based on the provided income statement data, operating margins have oscillated significantly, reaching 5.0% in 2026Q4 after a period of negative operating income in 2025, indicating that the company's fixed cost structure often outpaces gross profit generation during periods of lower project volume.
The lack of consistent operating leverage suggests that Daktronics struggles to scale its specialized engineering and installation labor force efficiently during revenue downturns. This volatility warrants further investigation into whether management can successfully transition toward higher-margin software services to decouple operating expenses from hardware-centric project cycles.
Data from recent income statements reveals that net income has been highly erratic, swinging from a $17.2 million loss in 2025Q3 to an $8.4 million profit in 2026Q4, a trend largely driven by the timing of project completions and non-operating items rather than steady operational performance.
The significant variance in quarterly EPS suggests that headline earnings may not be a reliable indicator of underlying business health. Investors should be cautious of the impact of stock-based compensation, which has trended upward, potentially diluting shareholder value while the company attempts to stabilize its core profitability.
Quick answers to the most common questions about buying DAKT stock.
For fiscal year 2026, Daktronics, Inc. (DAKT) reported total revenue of $838.7M. This represents a 1239.8% increase compared to $62.6M in 1997.
Daktronics, Inc. (DAKT) is profitable, generating $45.4M in net income for the fiscal year ending 2026 with a net profit margin of 5.4%.
Daktronics, Inc. (DAKT) reported an operating income of $57.1M, resulting in an operating profit margin of 6.8%. This margin reflects the operational efficiency of the business before interest and taxes.
Daktronics, Inc. (DAKT) generated $229.0M in gross profit for the year, representing a gross profit margin of 27.3%. This demonstrates the company's core pricing power and production efficiency.