AstroNova, Inc. (NASDAQ:ALOT), a leading innovator in specialized print technology solutions, today announced that its Board of Directors has initiated a review and evaluation of strategic alternatives to maximize shareholder value. AstroNova will be reporting fourth quarter and fiscal year-end financial results after market on April 13, 2026, followed by a teleconference call at 8:30 a.m. ET on Tuesday, April 14, 2026.

The Board's review will consider a range of potential strategic, business and financial alternatives, which may include, among other things, a sale of all or part of the Company, a strategic investment, a merger or other business combination, or other strategic or financial alternatives, as well as continuing to execute on the Company's standalone strategic plan.

Jorik Ittmann, President and CEO, noted, "The Board and management are focused on closing the gap between the capital market's valuation of the Company and our perspective of AstroNova's intrinsic value. In that vein, we are evaluating a comprehensive range of strategic alternatives to maximize shareholder value. Throughout this process, we remain focused on executing our strategy and serving our customers, employees, and partners."

In connection with this review, the Company has engaged Rockefeller Capital Management as its exclusive financial advisor and Foley Hoag LLP as its legal counsel. The Board has not set a timetable for completion of the strategic review and does not intend to provide updates unless and until it is determined that disclosure is appropriate or required by law. There can be no assurance that the strategic review process will result in any transaction or other strategic change.

About AstroNova, Inc.

AstroNova (NASDAQ:ALOT) is a global provider of printing technologies serving regulated and industrial markets. The Company designs, manufactures, distributes, and services solutions that enable customers to identify, track, and communicate essential product and safety information across a wide range of applications and media. AstroNova supports customers by enabling safety, accuracy and durability for flightdeck communications, medical device and healthcare products, essential chemical products, and mission-critical industrial components, while ensuring compliance with local and regional regulatory requirements.

The Product Identification segment delivers end-to-end marking and identification solutions, including hardware, software, and consumables for OEMs, commercial printers, and brand owners. These solutions are used across labels, flexible packaging, corrugated, and industrial substrates, where durability, traceability, and compliance are essential. The Aerospace segment is a global leader in providing products designed for airborne printing solutions, avionics, and data acquisition, including flight deck printing solutions, networking hardware, and specialized aerospace-grade supplies. For more information please visit: www.astronovainc.com.

Forward-Looking Statements

Information included in this news release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are not statements of historical fact but rather reflect AstroNova's current expectations concerning future events and results. These statements may include the use of the words "believes are," "expects," "intends," "plans," "anticipates," "likely," "continues," "may," "will," and similar expressions to identify forward-looking statements. Such forward-looking statements, including those concerning AstroNova's strategic review process, involve risks, uncertainties and other factors, some of which are beyond AstroNova's control, which may cause actual results, performance or achievements to be materially different from those expressed or implied by such forward-looking statements. These risks, uncertainties and factors include, but are not limited to (i) the risk that the strategic review process will not result in the identification or consummation of a transaction on terms the Company or its shareholders find attractive or otherwise increase shareholder value; and (ii) those factors set forth in AstroNova's Annual Report on Form 10-K for the fiscal year ended January 31, 2025, and subsequent filings AstroNova makes with the Securities and Exchange Commission. AstroNova undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. The reader is cautioned not to unduly rely on such forward-looking statements when evaluating the information presented in this news release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260407104772/en/

Deborah K. Pawlowski, IRC, Alliance Advisors

Email: dpawlowski@allianceadvisors.com

Phone: 716.843.3908

AstroNova Announces Review of Strategic Alternatives