Filing Flows › IPG Photonics (IPGP) › Q1 2026
IPG Photonics (IPGP) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 5, 2026
IPG Photonics (IPGP) reported revenue of $265M for the first quarter 2026 (Q1 2026), +17% from a year earlier and -3% from the quarter before. Operating margin was -2.9%, net earnings $1.6M (0.6% of revenue).
IPG Photonics, Q1 2026: revenue $265M (+17% year over year), operating margin -2.9%, net earnings $1.6M, operating cash flow −$5.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $265M | -3% | +17% |
| Operating profit | −$7.7M | -333% | -523% |
| Net earnings | $1.6M | -88% | -58% |
| Operating cash flow | −$5.5M | -119% | -141% |
What changed
Revenue was $265.5M in Q1 2026, up 17% year over year and down 3% from the previous quarter. Lasers and Components was the largest line at 80% of revenue. Lasers and Components added $26.3M year over year (up 14%), 70% of the total change.
Gross margin was 37.5%, down 2.0 points from Q1 2025. Operating costs exceeded revenue by $7.7M, an operating margin of -2.9%. Operating expenses grew 22% against revenue growth of 17%. The fastest-growing cost line was Other operating costs (+452%). Net earnings were $1.6M, down 58% year over year. The effective tax rate was -55.4%. Non-operating items added $8.8M, 859% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$5.5M. Non-cash charges added back $15.9M of depreciation and amortization and $10.2M of share-based compensation. Working capital and other items used $33.2M. Capital expenditures of $16.3M exceeded it, leaving free cash flow of −$21.8M.
Questions
What was IPG Photonics' revenue in the first quarter 2026?
IPG Photonics (IPGP) reported revenue of $265M for the first quarter 2026 (Q1 2026), +17% from a year earlier and -3% from the quarter before.
Was IPG Photonics profitable in the first quarter 2026?
Operating loss was $7.7M (-2.9% of revenue) and net earnings $1.6M.
Source: IPG Photonics 10-Q on SEC EDGAR.