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American Superconductor (AMSC) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jul 30, 2025
American Superconductor (AMSC) reported revenue of $72.4M for the first quarter fiscal 2026 (Q1 FY26), +80% from a year earlier and +9% from the quarter before. Operating margin was 7.8%, net earnings $6.7M (9.3% of revenue).
American Superconductor, Q1 FY26: revenue $72.4M (+80% year over year), operating margin 7.8%, net earnings $6.7M, operating cash flow $4.1M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $72.4M | +9% | +80% |
| Gross profit | $24.5M | +38% | +100% |
| Operating profit | $5.6M | +241% | — |
| Net earnings | $6.7M | +458% | -22% |
| Operating cash flow | $4.1M | -34% | +21% |
| Free cash flow | $3.3M | -37% | +5% |
What changed
Revenue was $72.4M in Q1 FY26, up 80% year over year and up 9% from the previous quarter. Grid was the largest line at 83% of revenue. Grid added $27.8M year over year (up 86%), 87% of the total change.
Gross margin was 33.8%, up 3.5 points from a year earlier. Operating profit was $5.6M, a 7.8% margin (up 16.0 points year over year). Operating expenses grew 21% against revenue growth of 80%. The fastest-growing cost line was Research & development (+88%). Net earnings were $6.7M, down 22% year over year. The effective tax rate was 2.9%.
Operating cash flow was $4.1M (up 21% year over year), 61% of net earnings. Non-cash charges added back $900K of depreciation and $4.5M of share-based compensation. Working capital and other items used $8.0M. Capital expenditures of $814K left free cash flow of $3.3M.
Questions
What was American Superconductor's revenue in the first quarter fiscal 2026?
American Superconductor (AMSC) reported revenue of $72.4M for the first quarter fiscal 2026 (Q1 FY26), +80% from a year earlier and +9% from the quarter before.
Was American Superconductor profitable in the first quarter fiscal 2026?
Operating profit was $5.6M (7.8% of revenue) and net earnings $6.7M.