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MultiSensor AI Holdings (MSAI) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 13, 2026 · MultiSensor AI Holdings (MSAI) Q2 2026 earnings results →
Q2 2026 Revenue up 20% year over year to $1.7M · 145¢ of every $1 of revenue lost · operating margin -153.5%
MultiSensor AI Holdings made $1.7M in Q2 2026 (+20% Y/Y): Hardware $930K, Software $739K, Ancillary Services $26K. Operating margin -153.5%, net loss $2.5M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 13, 2026.
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What changed this quarter
Revenue was $1.7M in Q2 2026, up 19% year over year and up 5% from the previous quarter. Hardware was the largest line at 55% of revenue. Software added $339K year over year (up 85%), 123% of the total change. Ancillary Services declined 82%.
Operating costs exceeded revenue by $2.6M, an operating margin of -153.5%. Total costs fell 9% while revenue rose 19%. The quarter ended with a net loss of $2.5M, narrower than the previous quarter's $2.5M loss.
Operating cash flow was −$2.4M. Non-cash charges added back $360K of depreciation and $187K of share-based compensation. Working capital and other items used $479K. Capital expenditures of $251K exceeded it, leaving free cash flow of −$2.6M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 13, 2026 | $1.7M | +20% | -153.5% | −$2.5M | −$2.4M |
| Q1 2026 | 10-Q | May 13, 2026 | $1.6M | +38% | -160.7% | −$2.5M | −$1.7M |
| Q4 2025 | 10-K | Mar 19, 2026 | $1.4M | -0.9% | -171.6% | −$2.3M | −$2.2M |
| Q3 2025 | 10-Q | Nov 13, 2025 | $1.6M | -2% | -107.6% | −$1.7M | −$1.8M |
| Q2 2025 | 10-Q | Aug 13, 2025 | $1.4M | -33% | -233.8% | −$3.3M | −$804K |
| Q1 2025 | 10-Q | May 13, 2025 | $1.2M | -49% | -394.6% | −$4.4M | −$3.2M |
| Q4 2024 | 10-K | Mar 28, 2025 | $1.4M | -13% | -199.6% | −$3.0M | −$3.1M |
Charts
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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About MultiSensor AI Holdings
We build and deploy integrated condition monitoring and early threat detection solutions that connect multiple sensor types through a unified edge-to-cloud software architecture. Our software platform integrates multiple sensing modalities such as thermal, visual and acoustic, among others. Customers deploy the MSAI Connect platform to continuously monitor critical assets and identify early degradation patterns (such as elevated operating temperatures) across electrical, mechanical, and environmental systems. This allows teams to intervene early and convert potential failures into planned maintenance before downtime, safety incidents, or operational disruption occur.
In its own words, from its 10-K, filed Mar 19, 2026.
MultiSensor AI Holdings against its Optical Instruments & Lenses peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +20% against the peers' median +26%. Operating margin: -153.5% against the peers' median 14.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| MSAI MultiSensor AI Holdings | Q2 2026 | $1.7M | +20% | -153.5% |
| KLAC KLA | Q1 FY27 | $4.1B | +29% | 44.1% |
| COHR Coherent | Q1 FY27 | $2.4B | +50% | 15.1% |
| OPXS Optex Systems Holdings | Q3 FY26 | $9.7M | -12% | 14.3% |
| OPTX Syntec Optics Holdings | Q2 2026 | $8.3M | +26% | 3.9% |
Source: MultiSensor AI Holdings 10-Q on SEC EDGAR · CIK 1863990 · Optical Instruments & Lenses
13F: who owns MSAI and who is buying
More on MSAI
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results