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Innovative Solutions & Support (IA) earnings and revenue breakdown

Latest: Q3 FY26 · 10-Q filed Aug 13, 2026 · Innovative Solutions & Support (IA) Q3 FY26 earnings results →

Q3 FY26 Revenue up 11% year over year to $26.7M · 17¢ of every $1 of revenue kept as net profit · operating margin 22.6%

Innovative Solutions & Support made $26.7M in Q3 FY26 (+11% Y/Y): Product $17.5M, Services $9.2M. Operating margin 22.6%, net earnings $4.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.

Revenue$26.7M
Year over year+11%
Operating margin22.6%
Net earnings$4.5M
Operating cash flow$5.1M

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 $26.7M in Q3 FY26, up 11% year over year and up 20% from the previous quarter. Product was the largest line at 66% of revenue. Services added $1.7M year over year (up 22%), 65% of the total change.

Gross margin was 51.7%, up 16.1 points from Q3 FY25. Operating profit was $6.0M, a 22.6% margin (up 8.0 points year over year). Of the extra revenue versus Q3 FY25, 97% reached operating profit, above the 15% margin then. Operating expenses grew 53% against revenue growth of 11%. The fastest-growing cost line was Research & development (+105%). Net earnings were $4.5M, up 84% year over year. The effective tax rate was 10.5%.

Operating cash flow was $5.1M (down 29% year over year), 113% of net earnings. Non-cash charges added back $1.4M of depreciation and amortization and $654K of share-based compensation. Working capital and other items used $1.4M. Capital expenditures of $476K left free cash flow of $4.6M.

Quarterly history

Innovative Solutions & Support revenue by quarterInnovative Solutions & Support revenue by quarter$15.4MQ4 FY24$21.9MQ2 FY25$24.1MQ3 FY25$22.2MQ4 FY25$21.8MQ1 FY26$22.4MQ2 FY26$26.7MQ3 FY26
Innovative Solutions & Support net earnings by quarterInnovative Solutions & Support net earnings by quarter$3.2MQ4 FY24$5.3MQ2 FY25$2.4MQ3 FY25$7.1MQ4 FY25$4.1MQ1 FY26$3.4MQ2 FY26$4.5MQ3 FY26
QuarterFormFiledRevenueY/YOp. marginNet earningsOp. cash flow
Q3 FY2610-QAug 13, 2026$26.7M+11%22.6%$4.5M$5.1M
Q2 FY2610-QMay 15, 2026$22.4M+2%22.1%$3.4M$2.3M
Q1 FY2610-QFeb 13, 2026$21.8M+37%28.9%$4.1M$8.2M
Q4 FY2510-KDec 23, 2025$22.2M+45%37.0%$7.1M$3.0M
Q3 FY2510-QAug 14, 2025$24.1M+105%14.6%$2.4M$7.2M
Q2 FY2510-QMay 15, 2025$21.9M+104%31.8%$5.3M$1.3M
Q4 FY2410-KDec 30, 2024$15.4M+18%28.4%$3.2M$445K

Charts

Innovative Solutions & Support: revenue growth, year over year and quarter over quarterInnovative Solutions & Support: revenue growth, year over year and quarter over quarterY/YQ/Q+18%Q4 FY24+104%+43%Q2 FY25+105%+10%Q3 FY25+45%-8%Q4 FY25+37%-2%Q1 FY26+2%+3%Q2 FY26+11%+20%Q3 FY26
Latest (Q3 FY26): Y/Y +11%, Q/Q +20%.
Innovative Solutions & Support: where the cash came from (+) and went (−), TTM to Q3 FY26Innovative Solutions & Support: where the cash came from (+) and went (−), TTM to Q3 FY26Other investing−$33.0MOther financing$28.8MOperating cash flow$18.5MCash drawn (+) / kept (−)−$10.1MCapital spending−$4.2M
From the cash-flow statement as filed (SEC XBRL). Cash is fungible: the bars do not say which dollar paid for what.
Innovative Solutions & Support: profit against cash, quarter by quarterInnovative Solutions & Support: profit against cash, quarter by quarterNet incomeOperating cash flow$3.2M$445KQ4 FY24$736K$1.8MQ1 FY25$5.3M$1.3MQ2 FY25$2.4M$7.2MQ3 FY25$7.1M$3.0MQ4 FY25$4.1M$8.2MQ1 FY26$3.4M$2.3MQ2 FY26$4.5M$5.1MQ3 FY26
Latest (Q3 FY26): Net income $4.5M, Operating cash flow $5.1M.
Innovative Solutions & Support: diluted shares by fiscal yearInnovative Solutions & Support: diluted shares by fiscal year17MFY2017MFY2117MFY2217MFY2317MFY2418MFY25
+4.2% since FY20: more shares outstanding (issuance, stock pay).
Innovative Solutions & Support: long-term debt falling due (FY25)Innovative Solutions & Support: long-term debt falling due (FY25)$2.5M2026$2.5M2027$2.5M2028$2.5M2029$14.4M2030
Cash $2.7M, short-term investments —, long-term debt $24.4M at 2025-09-30.
Innovative Solutions & Support in its industry: growth against margin (17 companies, SIC 7371)Innovative Solutions & Support in its industry: growth against margin (17 companies, SIC 7371)revenue growth, year over year →↑ operating marginmedian +5%median -1%CTSHEPAMZSVRSNRDNWDOCSNIXXBMTMRGTISBIGCYCUBTLNCYNANKMDSFTSensei Harbor Corp.IA (+11%, 23%)
Services-Computer Programming Services; dot size is quarterly revenue; dashed lines are the industry's medians.

Interactive views

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💵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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Customers and suppliers named in filings

Sells to

About Innovative Solutions & Support

As used in this Annual Report on Form 10-K, unless expressly stated otherwise or the context otherwise requires, the terms “IA” or “the Company”, “we”, “us” and “our”, refers to Innovative Solutions & Support, Inc. dba Innovative Aerosystems and its subsidiaries. Incorporated in Pennsylvania in 1988, IA is a vertically integrated provider of flight solutions and equipment to commercial air transport, general aviation markets, the United States Department of Defense (“DoD”) and allied foreign militaries.

In its own words, from its 10-K, filed Dec 23, 2025.

Innovative Solutions & Support against its Services-Computer Programming Services peers

The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +11% against the peers' median +6%. Operating margin: 22.6% against the peers' median 12.3%.

CompanyQuarterRevenueY/YOp. margin
IA Innovative Solutions & SupportQ3 FY26$26.7M+11%22.6%
CTSH Cognizant Technology SolutionsQ3 2026$5.7B+5%15.4%
EPAM Epam SystemsQ3 2026$1.4B+2%12.3%
ZS ZscalerQ4 FY26$898M+25%-1.7%
VRSN VeriSignQ3 2026$443M+6%66.9%
RDNW RideNow GroupQ2 2026$297M-1%6.0%
DOCS DoximityQ2 FY27$175M+4%25.2%
XTIA XTI AerospaceQ2 2026$32.4M—-28.0%
NIXX NixxyQ2 2026$16.1M+20%-10.1%

Source: Innovative Solutions & Support 10-Q on SEC EDGAR · CIK 836690 · Services-Computer Programming Services

13F: who owns IA and who is buying

Largest holders of IA (13F)Largest holders of IA (13F)BlackRock$19.2MVanguard Group$13.2MMarshall Wace, LLP$12.5MVanguard Capital Management LLC$11.3MPunch & Associates Investment Man…$10.3MMorgan Stanley$9.1MRenaissance Technologies LLC$8.8MDimensional Fund Advisors LP$7.4MGeode Capital Management, LLC$6.4MCitadel Advisors LLC$5.4M
Funds' net buying of IA by quarter (13F)Funds' net buying of IA by quarter (13F)−$112K2024-09$3.5M2024-12$4.0M2025-03$4.6M2025-06$14.7M2025-09$27.6M2025-12$15.7M2026-03$12.5M2026-06
Value of shares 13F filers added minus the value they sold, each quarter (quarters with most filings in).

More on IA

History

Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results

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