Daktronics swings to profit as backlog hits record $342M

Daktronics (NASDAQ:DAKT) posted fiscal third-quarter results that outpaced the prior year across nearly every financial metric, fueled by efficient backlog conversion and stabilized supply chains.

The company reported net income of $3 million, a significant reversal from the losses seen during the same period last year.

Net sales for the quarter ending February 2026 rose 21.6% year-over-year to $181.9 million.

This growth was supported by $201.1 million in new orders, a 7.6% increase that pushed the company’s total product backlog to $342.3 million—up 25.3% compared to a year ago.

Management attributed the performance to improved pricing strategies and the timely fulfillment of large-scale projects in the Live Events and Commercial segments.

During the quarter, Daktronics completed the acquisition of X Display Company’s (XDC) display business.

The deal integrates proprietary MicroLED and MicroIC technology into the Daktronics portfolio, which the company expects will drive the next generation of high-resolution video walls.

The company's balance sheet showed further strengthening, ending the period with $144.4 million in cash against just $11.1 million in debt.

To support future liquidity, Daktronics entered into a new $71.5 million credit facility.

Capitalizing on its cash position, the company repurchased 1.3 million shares of common stock for $22.8 million during the quarter.