Filing Flows › Matrix Service (MTRX) › Q1 FY26
Matrix Service (MTRX) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Nov 6, 2025
Matrix Service (MTRX) reported revenue of $212M for the first quarter fiscal 2026 (Q1 FY26), +28% from a year earlier and -2% from the quarter before. Operating margin was -2.6%, net loss $3.7M (1.7% of revenue).
Matrix Service, Q1 FY26: revenue $212M (+28% year over year), operating margin -2.6%, net loss $3.7M, operating cash flow −$25.9M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $212M | -2% | +28% |
| Operating profit | −$5.5M | — | — |
| Net earnings | −$3.7M | — | — |
| Operating cash flow | −$25.9M | -164% | — |
What changed
Revenue was $211.9M in Q1 FY26, up 28% year over year and down 2% from the previous quarter. Storage and Terminal Solutions was the largest line at 52% of revenue. Storage and Terminal Solutions added $31.2M year over year (up 40%), 67% of the total change. Process and Industrial Facilities declined 11%.
Gross margin was 6.7%, up 2.0 points from a year earlier. Operating costs exceeded revenue by $5.5M, an operating margin of -2.6%. Operating expenses grew 6% against revenue growth of 28%. The quarter ended with a net loss of $3.7M, narrower than the previous quarter's $11.3M loss. Non-operating items added $1.9M, -53% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$25.9M. Non-cash charges added back $2.5M of depreciation and amortization and $1.9M of share-based compensation. Working capital and other items used $26.6M. Capital expenditures of $2.0M exceeded it, leaving free cash flow of −$27.9M.
Questions
What was Matrix Service's revenue in the first quarter fiscal 2026?
Matrix Service (MTRX) reported revenue of $212M for the first quarter fiscal 2026 (Q1 FY26), +28% from a year earlier and -2% from the quarter before.
Was Matrix Service profitable in the first quarter fiscal 2026?
Operating loss was $5.5M (-2.6% of revenue) and net loss $3.7M.
Source: Matrix Service 10-Q on SEC EDGAR.