Daktronics Faces Loss, Leadership Changes, and Transformation

Daktronics Inc. reported a challenging third quarter for fiscal 2025, with a net loss of $17.2 million and net sales dropping by 12.2% to $149.5 million, primarily due to reduced volumes in its Live Events and Transportation units. The company has experienced a leadership shake-up, with Reece Kurtenbach stepping down as Chairman, President, and CEO, transitioning into an advisory role, while Brad Wiemann takes over as interim CEO. Howard Atkins has been appointed as acting CFO and Chief Transformation Officer, and Andrew Siegel as Chairman of the Board. Despite increased sales in the Commercial and International units, the company's shares have declined significantly, reflecting investor concerns over its financial performance and leadership transitions. Daktronics is undergoing a business transformation to move towards a more professionalized, global entity, following a severe liquidity crisis in 2022. The company faces potential impacts from U.S. government tariff policies and federal funding shifts, which may affect future business conditions.