Filing Flows › Leslie's (LESL) › Q2 FY26
Leslie's (LESL) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed May 13, 2026
Leslie's (LESL) reported revenue of $185M for the second quarter fiscal 2026 (Q2 FY26), +4% from a year earlier and +26% from the quarter before. Operating margin was -20.4%, net loss $52.5M (28.4% of revenue).
Leslie's, Q2 FY26: revenue $185M (+4% year over year), operating margin -20.4%, net loss $52.5M, operating cash flow −$55.4M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $185M | +26% | +4% |
| Operating profit | −$37.7M | — | — |
| Net earnings | −$52.5M | — | — |
| Operating cash flow | −$55.4M | — | — |
What changed
Revenue was $184.7M in Q2 FY26, up 4% year over year and up 26% from the previous quarter.
Gross margin was 28.9%, up 4.1 points from Q2 FY25. Operating costs exceeded revenue by $37.7M, an operating margin of -20.4%. Operating expenses fell 1% while revenue rose 4%. The quarter ended with a net loss of $52.5M, narrower than the previous quarter's $83.0M loss.
Operating cash flow was −$55.4M. Non-cash charges added back $7.6M of depreciation and amortization and $1.0M of share-based compensation. Working capital and other items used $11.5M. Capital expenditures of $5.2M exceeded it, leaving free cash flow of −$60.6M.
Questions
What was Leslie's revenue in the second quarter fiscal 2026?
Leslie's (LESL) reported revenue of $185M for the second quarter fiscal 2026 (Q2 FY26), +4% from a year earlier and +26% from the quarter before.
Was Leslie's profitable in the second quarter fiscal 2026?
Operating loss was $37.7M (-20.4% of revenue) and net loss $52.5M.
Source: Leslie's 10-Q on SEC EDGAR.