Filing Flows › American Superconductor (AMSC) › Q2 FY26
American Superconductor (AMSC) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 5, 2025
American Superconductor (AMSC) reported revenue of $65.9M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and -9% from the quarter before. Operating margin was 4.5%, net earnings $4.8M (7.2% of revenue).
American Superconductor, Q2 FY26: revenue $65.9M (+21% year over year), operating margin 4.5%, net earnings $4.8M, operating cash flow $6.5M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $65.9M | -9% | +21% |
| Gross profit | $20.4M | -17% | +31% |
| Operating profit | $3.0M | -47% | — |
| Net earnings | $4.8M | -29% | -3% |
| Operating cash flow | $6.5M | +57% | -49% |
| Free cash flow | $5.1M | +54% | -58% |
What changed
Revenue was $65.9M in Q2 FY26, up 21% year over year and down 9% from the previous quarter. Grid was the largest line at 83% of revenue. Grid added $7.4M year over year (up 16%), 65% of the total change.
Gross margin was 31.0%, up 2.4 points from a year earlier. Operating profit was $3.0M, a 4.5% margin (up 5.9 points year over year). Operating expenses grew 7% against revenue growth of 21%. The fastest-growing cost line was Research & development (+41%). Net earnings were $4.8M, down 3% year over year. The effective tax rate was 2.4%. Non-operating items added $1.9M, 39% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $6.5M (down 49% year over year), 137% of net earnings. Non-cash charges added back $900K of depreciation and amortization and $3.8M of share-based compensation. Working capital and other items used $2.9M. Capital expenditures of $1.4M left free cash flow of $5.1M.
Questions
What was American Superconductor's revenue in the second quarter fiscal 2026?
American Superconductor (AMSC) reported revenue of $65.9M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and -9% from the quarter before.
Was American Superconductor profitable in the second quarter fiscal 2026?
Operating profit was $3.0M (4.5% of revenue) and net earnings $4.8M.