NI 2024 Q4 Revenue down 6% year-over-year

Feb. 5, 2025:

Emerson today announced Q1 2025 earnings today (for the quarter ending Dec 31, 2024) in which the Test and Measurement Segment (NI)  saw a year-over-year sales drop by 6% from $382 million to $369 million and the margins over the same period improve from -20.4% to -6.3%. In the conference call, Emerson indicated that this had likely reached a bottom. Also in the same call, synergies from the acquisition of NI were $100 million in 2024, and the expectations for synergies by year three after the acquisition were raised from $185 to $200 million. Test & Measurement was the only business segment of Emerson with negative numbers.

On the positive side, we see NI moving to beef up its LabVIEW marketing, and the at the European GDevCon in Stuttgart in September 2024, nine NI employees attended to demonstrate NI’s commitment.  In addition, NI appears to have re-booted their academic program, which is a crucial pipeline of new employees with LabVIEW skills.

New DAQ modules have also been announced which consolidate many diverse legacy DAQ products in few, more compelling offerings. However, price increases of legacy DAQ products along with old hardware components decreased their competitiveness.This also hurts the NI position in the entry level market where pricing is important.  Some Alliance members have attempted to fill this gap by putting the LabVIEW community edition on small embedded Arduino boards.

The NI web site continues to be very slow (at least for European users), and now that LabVIEW help accesses the web site, a typical look-up can take 15 seconds or more.

But “vibe” emanating from NI is more upbeat and positive, with lots of new YouTube videos, also helping to resurrect the “it’s OK to have fun” feeling.

Downloads:

Feb. 5 2025 Earnings Press Release

Financial Tables

Feb 5, 2025 Conference Call with Q & A

2025 Q1 Slide Deck for Conference call on Feb 5, 2025