Filing Flows › Kodiak Gas Services (KGS) › Q1 2026 › vs Q1 2025
Kodiak Gas Services (KGS) Q1 2026 vs Q1 2025 (year over year)
Kodiak Gas Services's revenue rose $16.1M (+5%) from $330M in Q1 2025 to $346M in Q1 2026. The biggest changes: Contract Services +$18.0M (+6%); Service, Other −$1.9M (-5%). Operating margin 30.9% against 27.1% (+3.8 pts).
Kodiak Gas Services, Q1 2026: revenue $346M (+5% year over year), operating margin 30.9%, net earnings $17.8M, operating cash flow $71.2M. The chart draws each line against Q1 2025, the increases inside each band.
Margins
| Q1 2026 | Q1 2025 | Change | |
|---|---|---|---|
| Operating margin | 30.9% | 27.1% | +3.8 pts |
| Net margin | 5.1% | 9.2% | -4.1 pts |
Every line
| Line | Q1 2026 | Q1 2025 | Change | % |
|---|---|---|---|---|
| Contract Services | $307M | $289M | $18.0M | +6% |
| Service, Other | $38.8M | $40.7M | −$1.9M | -5% |
| Revenue | $346M | $330M | $16.1M | +5% |
| Operating profit | $107M | $89.2M | $17.6M | +20% |
| Costs & expenses | $239M | $240M | −$1.5M | -0.6% |
| Pre-tax earnings | $20.6M | $41.6M | −$20.9M | -50% |
| Other expense, net | $86.2M | $47.6M | $38.6M | +81% |
| Cost of revenue | $123M | $128M | −$5.6M | -4% |
| SG&A | $46.1M | $32.3M | $13.9M | +43% |
| Other operating costs | $69.9M | $79.7M | −$9.8M | -12% |
| Net earnings | $17.8M | $30.4M | −$12.6M | -41% |
| Minority interests | $55K | $625K | −$570K | -91% |
| Income tax | $2.8M | $10.5M | −$7.8M | -74% |
| Operating cash sources | $92.4M | $108M | −$15.5M | -14% |
| Depreciation & amortization | $68.7M | $70.5M | −$1.8M | -3% |
| Share-based compensation | $5.9M | $7.0M | −$1.1M | -16% |
| Working capital & other | $21.2M | −$6.4M | $27.6M | — |
| Operating cash flow | $71.2M | $114M | −$43.1M | -38% |
| Capital expenditures | $118M | $77.6M | $40.8M | +53% |
| Negative free cash flow (OCF − capex) | $47.2M | −$36.8M | $84.0M | — |
Questions
How much did Kodiak Gas Services's revenue grow year over year in Q1 2026?
Kodiak Gas Services's revenue rose $16.1M (+5%) from $330M in Q1 2025 to $346M in Q1 2026.
What drove Kodiak Gas Services's revenue change in Q1 2026?
Contract Services +$18.0M (+6%); Service, Other −$1.9M (-5%).