Filing Flows › Leslie's (LESL) › Q1 FY26
Leslie's (LESL) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Feb 18, 2026
Leslie's (LESL) reported revenue of $147M for the first quarter fiscal 2026 (Q1 FY26), -16% from a year earlier and -62% from the quarter before. Operating margin was -46.7%, net loss $83.0M (56.4% of revenue).
Leslie's, Q1 FY26: revenue $147M (-16% year over year), operating margin -46.7%, net loss $83.0M, operating cash flow −$81.1M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $147M | -62% | -16% |
| Operating profit | −$68.7M | — | — |
| Net earnings | −$83.0M | — | — |
| Operating cash flow | −$81.1M | -268% | — |
What changed
Revenue was $147.1M in Q1 FY26, down 16% year over year and down 62% from the previous quarter.
Gross margin was 18.4%, down 8.8 points from a year earlier. Operating costs exceeded revenue by $68.7M, an operating margin of -46.7%. Operating expenses grew 10% against a revenue fall of 16%. The quarter ended with a net loss of $83.0M, narrower than the previous quarter's $162.8M loss.
Operating cash flow was −$81.1M. Non-cash charges added back $7.8M of depreciation and amortization and $1.1M of share-based compensation. Working capital and other items used $7.1M. Capital expenditures of $4.3M exceeded it, leaving free cash flow of −$85.5M.
Questions
What was Leslie's revenue in the first quarter fiscal 2026?
Leslie's (LESL) reported revenue of $147M for the first quarter fiscal 2026 (Q1 FY26), -16% from a year earlier and -62% from the quarter before.
Was Leslie's profitable in the first quarter fiscal 2026?
Operating loss was $68.7M (-46.7% of revenue) and net loss $83.0M.
Source: Leslie's 10-Q on SEC EDGAR.