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How Innovative Solutions & Support (IA) makes money

Innovative Solutions & Support (IA) made $26.7M of revenue in the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier. Product brought in $17.5M (66%); Services brought in $9.2M (34%). Of every dollar of revenue, 52¢ was left as gross profit, 23¢ was left as operating profit, 17¢ was left as net earnings.

Drawing the Sankey…

Innovative Solutions & Support revenue by segment, Q3 FY26Innovative Solutions & Support revenue by segment, Q3 FY26Product$17.5MServices$9.2M
Innovative Solutions & Support: revenue by line, Q2 FY25 to Q3 FY26Innovative Solutions & Support: revenue by line, Q2 FY25 to Q3 FY26ProductServicesProduct: $17.5M latest$17.5MServices: $9.2M latest$9.2MQ2 FY25Q3 FY25Q4 FY25Q1 FY26Q2 FY26Q3 FY26
Product went from 60% of revenue in Q2 FY25 to 66% in Q3 FY26, the largest shift in the mix.
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: where each dollar of revenue goesInnovative Solutions & Support: where each dollar of revenue goesCost of revenue48¢Gross profit52¢Operating expenses29¢Operating profit23¢Income tax2¢Net earnings17¢Operating cash flow19¢Free cash flow17¢

Revenue by segment, Q3 FY26

SegmentRevenueShareQ/QY/Y
Product$17.5M65.5%+22%+6%
Services$9.2M34.5%+14%+22%

Where each dollar of revenue goes

LineQ3 FY26% of revenue
Revenue$26.7M100.0%
Cost of revenue$12.9M48.3%
Gross profit$13.8M51.7%
Operating expenses$7.8M29.1%
Operating profit$6.0M22.6%
Income tax$528K2.0%
Net earnings$4.5M16.8%
Operating cash flow$5.1M19.0%
Free cash flow$4.6M17.3%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q3 FY26$26.7M+11%
Q2 FY26$22.4M+2%
Q1 FY26$21.8M+37%
Q4 FY25$22.2M+45%
Q3 FY25$24.1M+105%
Q2 FY25$21.9M+104%
Q4 FY24$15.4M+18%

From Innovative Solutions & Support's 10-Q filed Aug 13, 2026 (on EDGAR).

Questions

How does Innovative Solutions & Support make money?

Innovative Solutions & Support (IA) made $26.7M of revenue in the third quarter fiscal 2026 (Q3 FY26), +11% from a year earlier. Product brought in $17.5M (66%); Services brought in $9.2M (34%). Of every dollar of revenue, 52¢ was left as gross profit, 23¢ was left as operating profit, 17¢ was left as net earnings.

What is Innovative Solutions & Support's biggest business?

Product: $17.5M in the third quarter fiscal 2026, 66% of revenue, +6% from a year earlier.

What is Innovative Solutions & Support's profit margin?

Net earnings were $4.5M, 16.8% of revenue, in the third quarter fiscal 2026; the operating margin was 22.6%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.