Daktronics booked record net sales of $838.7M during the 2026 fiscal year, an 11% year-over-year increase. The net sales figure, a company record, was further indication that Daktronics’ three-year business transformation is gathering momentum. Ramesh Jayaraman, Daktronics President and CEO since Feb. 1, 2026, wrote in the company’s FY26 full-year SEC filing that the LED display company was tracking toward its fiscal 2028 targets of 7-10% revenue compound annual growth rate, 10-12% operating margin and 17-20% return on invested capital.
Daktronics’ full-year filing indicated it received a record volume of orders worth $860.8M,a figure boosted in part by Daktronics winning five out of five available MLB projects since the third quarter of FY25. The company completed 11 MLB projects during the FY26, including at Wrigley Field and Yankee Stadium.
The record number of orders contributed to a $356.2M product backlog headed into FY27.
Daktronics’ full-year operating margin was 7.7%, up from 4.4% in FY25. Better operational efficiency, improved supply chain execution, and disciplined inventory and working capital management drove that improvement and contributed to an FY26 gross profit of $229M.
It’s very different reading compared to Daktronics’ rocky COVID period, during which it encountered serious liquidity issues in late 2022, causing its stock price to dip as low as $1.46. The price has since rebounded to closer to $20 per share.
Those issues sparked a business transformation that, among a slew of other changes, saw Jayaraman brought in.
Since the pandemic’s supply chain shocks, Daktronics has enhanced its North American manufacturing capabilities and that trend continues with a new facility about to be brought on line in Mexico. That facility will help serve Daktronics’ North American Live Events business, including sports venues, which continues to be the company’s strongest.
College sports also proved a busy market with Daktronics completing 11 new displays, including an end zone video board at North Carolina’s Kenan Stadium measuring 106 feet wide.
Internationally, Daktronics won a large project involving multiple arenas in Qatar that will be completed ahead of the country hosting the FIBA Under-18 Asia Cup basketball tournament. Daktronics’ international segment’s net sales grew 24.5% year-over-year
Daktronics ended the fiscal year with $131.6M in cash and cash equivalents, with $10.8M in outstanding current and long-term debt. At the end of fiscal 2026, its working capital ratio was 2.3 to 1. The company noted in its 10K that it is monitoring developments related to tariff refunds, but has nothing to report yet given the ongoing uncertainty around eligibility for refunds, the timing of them, and possible amount.
