Filing Flows › Greenland Technologies Holding (GTEC) › Q1 2026
Greenland Technologies Holding (GTEC) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 13, 2026
Greenland Technologies Holding (GTEC) reported revenue of $25.5M for the first quarter 2026 (Q1 2026), +18% from a year earlier and +7% from the quarter before. Operating margin was 22.4%, net earnings $5.0M (19.6% of revenue).
Greenland Technologies Holding, Q1 2026: revenue $25.5M (+18% year over year), operating margin 22.4%, net earnings $5.0M, operating cash flow −$1.2M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $25.5M | +7% | +18% |
| Gross profit | $8.8M | +4% | +32% |
| Operating profit | $5.7M | — | +19% |
| Net earnings | $5.0M | — | +25% |
| Operating cash flow | −$1.2M | -115% | -195% |
What changed
Revenue was $25.5M in Q1 2026, up 18% year over year and up 7% from the previous quarter. Transmission Boxes for Forklift was the largest line at 98% of revenue. Transmission Boxes for Forklift added $4.0M year over year (up 19%), 103% of the total change. Transmission Boxes for Non Forklift declined 17%.
Gross margin was 34.3%, up 3.6 points from Q1 2025. Operating profit was $5.7M, a 22.4% margin (up 0.2 points year over year). Of the extra revenue versus Q1 2025, 24% reached operating profit, above the 22% margin then. Operating expenses grew 64% against revenue growth of 18%. The fastest-growing cost line was Research & development (+855%). Net earnings were $5.0M, up 25% year over year. The effective tax rate was 14.9%.
Operating cash flow was −$1.2M. Non-cash charges added back $517K of depreciation and amortization. Working capital and other items used $7.5M. Capital expenditures of $173K exceeded it, leaving free cash flow of −$1.4M.
Questions
What was Greenland Technologies Holding's revenue in the first quarter 2026?
Greenland Technologies Holding (GTEC) reported revenue of $25.5M for the first quarter 2026 (Q1 2026), +18% from a year earlier and +7% from the quarter before.
Was Greenland Technologies Holding profitable in the first quarter 2026?
Operating profit was $5.7M (22.4% of revenue) and net earnings $5.0M.