Filing Flows › Neogen (NEOG) › Q2 FY26
Neogen (NEOG) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Jan 8, 2026
Neogen (NEOG) reported revenue of $225M for the second quarter fiscal 2026 (Q2 FY26), -3% from a year earlier and +7% from the quarter before. Operating margin was -2.4%, net loss $15.9M (7.1% of revenue).
Neogen, Q2 FY26: revenue $225M (-3% year over year), operating margin -2.4%, net loss $15.9M, operating cash flow $19.5M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $225M | +7% | -3% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$15.9M | -144% | — |
| Operating cash flow | $19.5M | +81% | -52% |
| Free cash flow | $7.8M | — | -66% |
What changed
Revenue was $224.7M in Q2 FY26, down 3% year over year and up 7% from the previous quarter. Product was the largest line at 89% of revenue. Product lost $8.5M year over year (down 4%), 130% of the total change.
Gross margin was 47.5%, down 1.5 points from a year earlier. Operating costs exceeded revenue by $5.4M, an operating margin of -2.4%. Operating expenses fell 80% while revenue fell 3%. The fastest-growing cost line was General & admin (+13%). The quarter ended with a net loss of $15.9M, after a profit of $36.3M the previous quarter. Net interest and other expense of $15.0M was the main reason.
Operating cash flow was $19.5M (down 52% year over year). Non-cash charges added back $28.9M of depreciation and amortization and $4.3M of share-based compensation. Working capital and other items added $2.2M. Capital expenditures of $11.7M left free cash flow of $7.8M.
Questions
What was Neogen's revenue in the second quarter fiscal 2026?
Neogen (NEOG) reported revenue of $225M for the second quarter fiscal 2026 (Q2 FY26), -3% from a year earlier and +7% from the quarter before.
Was Neogen profitable in the second quarter fiscal 2026?
Operating loss was $5.4M (-2.4% of revenue) and net loss $15.9M.
Source: Neogen 10-Q on SEC EDGAR.