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Applied Energetics (AERG) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · Applied Energetics (AERG) Q2 2026 earnings results →
Q2 2026 Revenue down 12% year over year to $62K
Applied Energetics made $62K in Q2 2026 (-12% Y/Y). Operating margin n/m, net loss $4.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $62K in Q2 2026, down 12% year over year.
Gross margin was 65.2%, up 32.7 points from Q2 2025. Operating costs exceeded revenue by $4.3M, an operating margin of -6934.9%. Operating expenses grew 14% against a revenue fall of 12%. The fastest-growing cost line was Research & development (+108%). The quarter ended with a net loss of $4.3M.
Operating cash flow was −$2.8M. Non-cash charges added back $87K of depreciation and amortization and $1.3M of share-based compensation. Capital expenditures of $37K exceeded it, leaving free cash flow of −$2.9M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $62K | -12% | n/m | −$4.3M | −$2.8M |
| Q4 2025 | 10-K | Mar 30, 2026 | $73K | -90% | n/m | −$4.0M | −$2.6M |
| Q3 2025 | 10-Q | Nov 12, 2025 | $109K | -85% | n/m | −$4.0M | −$2.5M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $70K | -91% | n/m | −$3.8M | −$2.4M |
| Q1 2025 | 10-Q | May 15, 2025 | $210K | +56% | n/m | −$3.1M | −$1.7M |
| Q4 2024 | 10-K | Mar 28, 2025 | $764K | -12% | -278.5% | −$2.1M | −$1.4M |
Charts
Interactive views
The same charts as the app — open one to draw it.
💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About Applied Energetics
Certain statements in this Form 10-K constitute forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. Forward-looking statements include all statements that do not relate solely to historical or current facts and can be identified by the use of forward-looking words such as “may,” “believe,” “will,” “expect,” “project,” “anticipate,” “estimates,” “plans,” “strategy,” “target,” “prospects” or “continue,” and words of similar meaning.
In its own words, from its 10-K, filed Mar 30, 2026.
Applied Energetics against its Search, Detection, Navigation, Guidance, Aeronautical Sys peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median +9%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| AERG Applied Energetics | Q2 2026 | $62K | -12% | n/m |
| NOC Northrop Grumman | Q3 2026 | $11.1B | +7% | 11.4% |
| LHX L3Harris Technologies | Q3 2026 | $6.1B | +7% | 13.0% |
| GRMN Garmin | Q3 2026 | $2.0B | +12% | 30.8% |
| TDY Teledyne Technologies | Q3 2026 | $1.7B | +9% | 20.6% |
| DRS Leonardo DRS | Q3 2026 | $1.1B | +11% | 10.9% |
| LUNR Intuitive Machines | Q2 2026 | $206M | +310% | -22.9% |
| LYNX Lyntris | Q3 2026 | $194M | +90% | 5.7% |
| CODA Coda Octopus Group | Q3 FY26 | $7.7M | +9% | 19.9% |
Source: Applied Energetics 10-Q on SEC EDGAR · CIK 879911 · Search, Detection, Navigation, Guidance, Aeronautical Sys
More on AERG
History
Every quarter: Q2 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results