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Dolby Laboratories (DLB) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Jan 29, 2026
Dolby Laboratories (DLB) reported revenue of $347M for the first quarter fiscal 2026 (Q1 FY26), -3% from a year earlier and +13% from the quarter before. Operating margin was 17.9%, net earnings $53.3M (15.4% of revenue).
Dolby Laboratories, Q1 FY26: revenue $347M (-3% year over year), operating margin 17.9%, net earnings $53.3M, operating cash flow $54.8M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $347M | +13% | -3% |
| Gross profit | $303M | +13% | -4% |
| Operating profit | $62.2M | +109% | -22% |
| Net earnings | $53.3M | +8% | -21% |
| Operating cash flow | $54.8M | -55% | -49% |
| Free cash flow | $50.2M | -53% | -50% |
What changed
Revenue was $346.7M in Q1 FY26, down 3% year over year and up 13% from the previous quarter. Broadcast was the largest line at 29% of revenue. Broadcast lost $15.5M year over year (down 13%), 151% of the total change.
Gross margin was 87.5%, down 1.0 points from a year earlier. Operating profit was $62.2M, a 17.9% margin (down 4.4 points year over year). Operating expenses grew 2% against a revenue fall of 3%. The fastest-growing cost line was Other operating costs (+101%). Net earnings were $53.3M, down 21% year over year. The effective tax rate was 25.0%.
Operating cash flow was $54.8M (down 49% year over year), 102% of net earnings. Non-cash charges added back $24.1M of depreciation and amortization and $37.2M of share-based compensation. Working capital and other items used $60.2M. Capital expenditures of $4.6M left free cash flow of $50.2M.
Questions
What was Dolby Laboratories' revenue in the first quarter fiscal 2026?
Dolby Laboratories (DLB) reported revenue of $347M for the first quarter fiscal 2026 (Q1 FY26), -3% from a year earlier and +13% from the quarter before.
Was Dolby Laboratories profitable in the first quarter fiscal 2026?
Operating profit was $62.2M (17.9% of revenue) and net earnings $53.3M.
Source: Dolby Laboratories 10-Q on SEC EDGAR.