Daktronics Posts 21.6% Q3 Revenue Growth as Backlog Hits $342 Million

Overview

• Revenue reached about $182 million, up 21.6% year over year on efficient conversion of a robust order book despite holiday and weather disruptions.
• Quarterly orders again topped $200 million, lifting backlog to $342 million—about 25% higher than a year ago—supporting multi-quarter visibility.
• Daktronics logged a ‘6 for 6’ win rate on large MLB projects in fiscal 2026 and set a record in Transportation bookings, up roughly 130% on wins with a top-five U.S. airport and Caltrans.
• Gross margin was 24% versus 27% in the prior quarter due to fixed-cost absorption and about $6 million in tariff expense; net income was $3 million with adjusted net income of $4.6 million after one-time costs.
• The company acquired XDC intellectual property and engineering talent to accelerate micro‑LED development, advanced a Mexico plant targeting Q1 FY2027 start-up with full capacity by Q2, pursued a SaaS shift, and repurchased roughly 1.3 million shares while ending the quarter with $144 million in cash and no borrowings.