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CapForce (CFOR) earnings and revenue breakdown

Latest: Q2 2026 · 10-Q filed Aug 19, 2026 · CapForce (CFOR) Q2 2026 earnings results →

Q2 2026 Revenue up 1150% year over year to $50.0M · 85¢ of every $1 of revenue kept as net profit · operating margin 88.6%

CapForce made $50.0M in Q2 2026 (12× Y/Y). Operating margin 88.6%, net earnings $42.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 19, 2026.

Revenue$50.0M
Year over year12×
Operating margin88.6%
Net earnings$42.5M
Operating cash flow−$618K

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 $50.0M in Q2 2026, up 1150% year over year.

Operating profit was $44.3M, a 88.6% margin (up 3.5 points year over year). Of the extra revenue versus Q2 2025, 89% reached operating profit, above the 85% margin then. Total costs grew 857% against revenue growth of 1150%. The fastest-growing cost line was General & admin (+20%). Net earnings were $42.5M, up 1110% year over year. The effective tax rate was 4.3%.

Operating cash flow was −$618K. Non-cash charges added back $52K of depreciation and amortization and $69K of share-based compensation. Working capital and other items used $43.2M.

Quarterly history

CapForce revenue by quarterCapForce revenue by quarter$5.0MQ4 2024$4.0MQ2 2025$26.2MQ4 2025$50.0MQ2 2026
CapForce net earnings by quarterCapForce net earnings by quarter$4.4MQ4 2024$3.5MQ2 2025$21.1MQ4 2025$42.5MQ2 2026
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q2 202610-QAug 19, 2026$50.0M12×88.6%$42.5M−$618K
Q4 202510-KMay 26, 2026$26.2M+424%83.4%$21.1M−$205K
Q2 202510-QOct 31, 2025$4.0M143×85.1%$3.5M−$447K
Q4 202410-KAug 21, 2025$5.0M+367%88.0%$4.4M−$232K

Charts

CapForce: revenue growth, year over year and quarter over quarterCapForce: revenue growth, year over year and quarter over quarterY/YQ/Q+367%Q4 2024+400%-20%Q2 2025+400%+400%Q4 2025+400%+91%Q2 2026
Latest (Q2 2026): Y/Y +400%, Q/Q +91%.
CapForce: where the cash came from (+) and went (−), TTM to Q2 2026CapForce: where the cash came from (+) and went (−), TTM to Q2 2026Operating cash flow−$1.5MOther financing$931KCash drawn (+) / kept (−)$682KNot reconciled−$93K
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
CapForce: profit against cash, quarter by quarterCapForce: profit against cash, quarter by quarterNet incomeOperating cash flow$8.9M−$2.8MQ3 2024$4.4M−$232KQ4 2024−$408K−$108KQ1 2025$3.5M−$538KQ2 2025−$609K−$333KQ3 2025$21.1M−$205KQ4 2025−$711K−$364KQ1 2026$42.5M−$618KQ2 2026
Latest (Q2 2026): Net income $42.5M, Operating cash flow −$618K.
CapForce: diluted shares by fiscal year (split-adjusted)CapForce: diluted shares by fiscal year (split-adjusted)95MFY202011MFY20211MFY20222MFY202310MFY202410MFY2025
-89.3% since FY2020: buybacks shrank the count; earlier years scaled for the 2-for-1 split before FY2025, 3-for-1 split before FY2023.
CapForce in its industry: growth against margin (22 companies, SIC 8071)CapForce in its industry: growth against margin (22 companies, SIC 8071)revenue growth, year over year →↑ operating marginmedian +24%median -3%LHDGXNTRAFTRERDNTGHCAILMRIVCYTCDNABLLNCSTLFLGTGRALPSNLBDSXXGNAMSBGLCSERAACONCFOR (+300%, 89%)
Services-Medical Laboratories; dot size is quarterly revenue; dashed lines are the industry's medians.

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 CapForce

Please refer to the Glossary at the end of this Business section for definitions or descriptions of industry, regulatory, and CapForce-specific terms used in this Annual Report. CapForce Inc. (“CapForce” or the “Company”, formerly known as OpGen, Inc.) was incorporated in Delaware in 2001. From inception through November 2023, the Company operated as a precision medicine company harnessing the power of molecular diagnostics and informatics to help combat infectious disease. The Company, along with its subsidiaries, Curetis GmbH (“Curetis”) and Ares Genetics GmbH (“Ares Genetics”), developed and commercialized molecular microbiology solutions helping to guide clinicians with more rapid and actionable information about life-threatening infections to improve patient outcomes and decrease the spread of infections caused by multidrug-resistant microorganisms, or MDROs.

In its own words, from its 10-K, filed May 26, 2026.

CapForce against its Services-Medical Laboratories peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: 12× against the peers' median +25%. Operating margin: 88.6% against the peers' median 7.0%.

CompanyQuarterRevenueY/YOp. margin
CFOR CapForceQ2 2026$50.0M12×88.6%
LH Labcorp HoldingsQ3 2026$3.8B+7%10.6%
DGX Quest DiagnosticsQ3 2026$3.1B+10%15.5%
NTRA NateraQ3 2026$794M+34%-8.6%
FTRE Fortrea HoldingsQ3 2026$692M-1%2.2%
RDNT RadNetQ2 2026$623M+25%6.3%
GH Guardant HealthQ3 2026$361M+36%-36.8%
CAI Caris Life SciencesQ3 2026$275M+27%7.0%
LMRI Lumexa Imaging HoldingsQ2 2026$264M+5%8.7%

Source: CapForce 10-Q on SEC EDGAR · CIK 1293818 · Services-Medical Laboratories

More on CFOR

History

Every quarter: Q2 2026 results · Q4 2025 results · Q2 2025 results · Q4 2024 results

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