Filing Flows › On Semiconductor (ON) › Q1 2026
On Semiconductor (ON) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 4, 2026
On Semiconductor (ON) reported revenue of $1.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -1% from the quarter before. Operating margin was -3.5%, net loss $32.9M (2.2% of revenue).
On Semiconductor, Q1 2026: revenue $1.5B (+5% year over year), operating margin -3.5%, net loss $32.9M, operating cash flow $239M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.5B | -1% | +5% |
| Operating profit | −$53.4M | -127% | — |
| Net earnings | −$32.9M | -118% | — |
| Operating cash flow | $239M | -57% | -60% |
| Free cash flow | $217M | — | -52% |
What changed
Revenue was $1.5B in Q1 2026, up 5% year over year and down 1% from the previous quarter. PSG was the largest line at 49% of revenue. PSG added $0.09B year over year (up 14%), 135% of the total change. AMG declined 5%.
Gross margin was 38.5%, up 18.2 points from Q1 2025. Operating costs exceeded revenue by $0.05B, an operating margin of -3.5%. Operating expenses fell 27% while revenue rose 5%. The quarter ended with a net loss of $0.03B, after a profit of $0.18B the previous quarter.
Operating cash flow was $0.24B (down 60% year over year). Non-cash charges added back $0.29B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items used $0.05B. After a ($0.02B), free cash flow as the company reports it was $0.22B.
Questions
What was On Semiconductor's revenue in the first quarter 2026?
On Semiconductor (ON) reported revenue of $1.5B for the first quarter 2026 (Q1 2026), +5% from a year earlier and -1% from the quarter before.
Was On Semiconductor profitable in the first quarter 2026?
Operating loss was $53.4M (-3.5% of revenue) and net loss $32.9M.
Source: On Semiconductor 10-Q on SEC EDGAR.