Askeladden Capital Comments on AstroNova Q4 and FY2025 Results

In This Article:

Q4 represents fourth consecutive quarter of poor performance blamed on "delays," which are now expected to continue into FY2026

ALOT shares are down >50% since the disastrous MTEX acquisition last May, which led to a covenant breach and event of default on the company's debt facility in Q4

Samir Patel of Askeladden Capital, AstroNova's largest shareholder, has nominated five director candidates with specific and relevant expertise who will instill a culture of accountability to shareholder value

FORT WORTH, TX / ACCESS Newswire / April 16, 2025 / To fellow shareholders of AstroNova:

By now you have likely seen the fourth quarter and full-year 2025 financial results for AstroNova (ALOT). I write today to comment on these results. I am the portfolio manager of Askeladden Capital Management LLC (collectively, "we,"), which on behalf of our clients is AstroNova's largest shareholder. I am very concerned about AstroNova's future, and that is why I have nominated a slate of five candidates for election to the board of directors at the upcoming annual shareholder meeting.

These pitiful results, which we discuss in more detail below, underscore the urgent need for substantial change. We think CEO Greg Woods' continued employment with AstroNova represents a culture lacking accountability, and we believe that the board of directors has failed to provide sufficient oversight and leadership. In our view, CEO Greg Woods and the four longest-serving directors have individually and collectively presided over substantial shareholder value destruction in both the short and long term,[1] clinging to a CEO who has delivered failure after failure with respect to performance targets the Board itself has set.

This state of events is why I nominated five qualified and motivated candidates to replace incumbent Board members. Our goal is to instill an incentives-driven culture of accountability throughout the organization, and leverage our nominees' specific and relevant expertise to restore value not only for Askeladden's clients, but for all long-suffering ALOT shareholders. In the near future, we intend to file a proxy statement and to solicit proxies in support of our nominees, and we encourage you to read those materials when they become available and to consider our nominees for election to the board of directors.

Q4 and FY 2025 Results

Recent results extend the company's multi-year track record of broken promises and missed targets. We observed virtually no bright spots in Q4. Year-on-year (y/y):


Waiting for permission
Allow microphone access to enable voice search

Try again.