Daktronics, Inc. Reports Net Loss of $14.6 Million in Q3 2023

Daktronics, Inc.,(DAKT) a leading provider of electronic display systems, has announced its financial results for the third quarter of 2023. Despite a significant increase in revenue, the company reported a net loss of $14.6 million during the quarter.

Revenue Growth and Net Loss

Daktronics, Inc. experienced robust revenue growth during the third quarter of 2023, reaching $184.9 million. This represents a substantial increase compared to the same period last year when the company reported revenue of $139.6 million. The strong performance was driven by higher demand for electronic display systems across various industries.

However, despite the positive revenue growth, Daktronics, Inc. faced challenges that resulted in a net loss of $14.6 million for the quarter. This is a significant decline compared to the previous year's third quarter, which saw a net loss of $4.4 million. The company cited various factors, including operating expenses and goodwill impairment, as contributors to the increased loss.