Filing Flows › Fabrinet (FN) › Q1 FY26
Fabrinet (FN) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 4, 2025
Fabrinet (FN) reported revenue of $978M for the first quarter fiscal 2026 (Q1 FY26), +22% from a year earlier and +8% from the quarter before. Operating margin was 9.6%, net earnings $95.9M (9.8% of revenue).
Fabrinet, Q1 FY26: revenue $978M (+22% year over year), operating margin 9.6%, net earnings $95.9M, operating cash flow $103M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $978M | +8% | +22% |
| Gross profit | $116M | +5% | +18% |
| Operating profit | $94.2M | +6% | +22% |
| Net earnings | $95.9M | +10% | +24% |
| Operating cash flow | $103M | +86% | +23% |
| Free cash flow | $57.3M | — | -9% |
What changed
Revenue was $978.1M in Q1 FY26, up 22% year over year and up 8% from the previous quarter. Optical communications was the largest line at 76% of revenue. Optical communications added $120.6M year over year (up 19%), 69% of the total change.
Gross margin was 11.9%, down 0.4 points from a year earlier. Operating profit was $94.2M, a 9.6% margin (up 0.1 points year over year). Of the extra revenue versus a year earlier, 10% reached operating profit, above the 10% margin then. Operating expenses grew 1% against revenue growth of 22%. Net earnings were $95.9M, up 24% year over year. The effective tax rate was 5.4%.
Operating cash flow was $102.6M (up 23% year over year), 107% of net earnings. Non-cash charges added back $14.9M of depreciation and amortization and $9.1M of share-based compensation. Working capital and other items used $17.3M. After purchase of property, plant and equipment ($45.3M), free cash flow as the company reports it was $57.3M.
Questions
What was Fabrinet's revenue in the first quarter fiscal 2026?
Fabrinet (FN) reported revenue of $978M for the first quarter fiscal 2026 (Q1 FY26), +22% from a year earlier and +8% from the quarter before.
Was Fabrinet profitable in the first quarter fiscal 2026?
Operating profit was $94.2M (9.6% of revenue) and net earnings $95.9M.
Source: Fabrinet 10-Q on SEC EDGAR.