Filing Flows › IPG Photonics (IPGP) › Q2 2026 › vs Q1 2026
IPG Photonics (IPGP) Q2 2026 vs Q1 2026 (quarter over quarter)
IPG Photonics's revenue rose $13.1M (+5%) from $265M in Q1 2026 to $279M in Q2 2026. The biggest changes: Systems +$6.9M (+13%); Lasers and Components +$6.2M (+3%). Gross margin 40.4% against 37.5% (+2.9 pts).
IPG Photonics, Q2 2026: revenue $279M (+11% year over year), operating margin 1.6%, net earnings $5.2M, operating cash flow $37.8M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 40.4% | 37.5% | +2.9 pts |
| Operating margin | 1.6% | -2.9% | +4.5 pts |
| Net margin | 1.9% | 0.6% | +1.3 pts |
| Free cash flow margin | 6.1% | -8.2% | +14.3 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Lasers and Components | $220M | $214M | $6.2M | +3% |
| Systems | $58.8M | $51.8M | $6.9M | +13% |
| Revenue | $279M | $265M | $13.1M | +5% |
| Gross profit | $113M | $99.5M | $13.0M | +13% |
| Cost of revenue | $166M | $166M | $58K | 0% |
| Other income, net | $8.0M | $8.8M | −$745K | -9% |
| Operating profit | $4.5M | −$7.7M | $12.3M | — |
| Operating expenses | $108M | $107M | $758K | +0.7% |
| Pre-tax earnings | $12.5M | $1.0M | $11.5M | 12× |
| Research & development | $31.0M | $33.3M | −$2.3M | -7% |
| Sales & marketing | $23.8M | $24.5M | −$716K | -3% |
| General & admin | $36.5M | $36.1M | $453K | +1% |
| Other operating costs | $16.6M | $13.3M | $3.3M | +25% |
| Net earnings | $5.2M | $1.6M | $3.7M | +231% |
| Income tax | $7.3M | −$565K | $7.9M | — |
| Depreciation & amortization | $15.5M | $15.9M | −$369K | -2% |
| Share-based compensation | $10.3M | $10.2M | $34K | +0.3% |
| Working capital & other | $6.7M | −$33.2M | $39.9M | — |
| Operating cash flow | $37.8M | −$5.5M | $43.3M | — |
| Free cash flow (OCF − capex) | $17.1M | −$21.8M | $38.9M | — |
| Capital expenditures | $20.7M | $16.3M | $4.4M | +27% |
Questions
How much did IPG Photonics's revenue grow quarter over quarter in Q2 2026?
IPG Photonics's revenue rose $13.1M (+5%) from $265M in Q1 2026 to $279M in Q2 2026.
What drove IPG Photonics's revenue change in Q2 2026?
Systems +$6.9M (+13%); Lasers and Components +$6.2M (+3%).