Filing Flows › Butler National (BUKS) › Q4 FY26 › vs Q3 FY26
Butler National (BUKS) Q4 FY26 vs Q3 FY26 (quarter over quarter)
Butler National's revenue rose $765K (+3%) from $26.9M in Q3 FY26 to $27.7M in Q4 FY26. The biggest changes: Special Mission Electronics +$933K (+20%); Aircraft Modification +$851K (+8%); Aircraft Avionics −$658K (-52%). Operating margin 27.0% against 34.3% (-7.3 pts).
Butler National, Q4 FY26: revenue $27.7M (+28% year over year), operating margin 27.0%, net earnings $5.6M, operating cash flow $1.3M. The chart draws each line against Q3 FY26, the increases inside each band.
Margins
| Q4 FY26 | Q3 FY26 | Change | |
|---|---|---|---|
| Operating margin | 27.0% | 34.3% | -7.3 pts |
| Net margin | 20.1% | 24.9% | -4.8 pts |
Every line
| Line | Q4 FY26 | Q3 FY26 | Change | % |
|---|---|---|---|---|
| Casino Gaming Revenue | $6.9M | $6.5M | $369K | +6% |
| Sportsbook Revenue | $1.5M | $2.2M | −$744K | -34% |
| Casino Non-Gaming Revenue | $1.2M | $1.2M | $14K | +1% |
| Gaming | $9.5M | $9.9M | −$361K | -4% |
| Aircraft Modification | $12.0M | $11.1M | $851K | +8% |
| Special Mission Electronics | $5.6M | $4.6M | $933K | +20% |
| Aircraft Avionics | $613K | $1.3M | −$658K | -52% |
| Revenue | $27.7M | $26.9M | $765K | +3% |
| Operating profit | $7.5M | $9.2M | −$1.8M | -19% |
| Costs & expenses | $20.2M | $17.7M | $2.5M | +14% |
| Pre-tax earnings | $7.2M | $9.0M | −$1.8M | -20% |
| Other expense, net | $265K | $250K | $15K | +6% |
| Research & development | $426K | $514K | −$88K | -17% |
| Sales & marketing | $939K | $863K | $76K | +9% |
| Other operating costs | $18.8M | $16.3M | $2.5M | +16% |
| Net earnings | $5.6M | $6.7M | −$1.1M | -17% |
| Income tax | $1.7M | $2.3M | −$638K | -28% |
| Operating cash sources | $7.4M | $8.4M | −$1.1M | -13% |
| Depreciation & amortization | $1.8M | $1.7M | $96K | +6% |
| Share-based compensation | $36K | $47K | −$11K | -23% |
| Working capital & other | $6.1M | −$2.2M | $8.3M | — |
| Operating cash flow | $1.3M | $10.6M | −$9.4M | -88% |
| Capital expenditures | $1.8M | $1.5M | $337K | +23% |
| Negative free cash flow (OCF − capex) | $526K | −$9.2M | $9.7M | — |
Questions
How much did Butler National's revenue grow quarter over quarter in Q4 FY26?
Butler National's revenue rose $765K (+3%) from $26.9M in Q3 FY26 to $27.7M in Q4 FY26.
What drove Butler National's revenue change in Q4 FY26?
Special Mission Electronics +$933K (+20%); Aircraft Modification +$851K (+8%); Aircraft Avionics −$658K (-52%).