Filing Flows › Ormat Technologies (ORA) › Q2 2026 › vs Q1 2026
Ormat Technologies (ORA) Q2 2026 vs Q1 2026 (quarter over quarter)
Ormat Technologies's revenue fell $145M (-36%) from $404M in Q1 2026 to $259M in Q2 2026. The biggest changes: Product −$131M (-74%); Electricity −$12.3M (-7%); Energy Storage −$2.2M (-5%). Gross margin 26.5% against 29.8% (-3.3 pts).
Ormat Technologies, Q2 2026: revenue $259M (+11% year over year), operating margin 13.2%, net earnings $27.1M, operating cash flow $50.6M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Gross margin | 26.5% | 29.8% | -3.3 pts |
| Operating margin | 13.2% | 19.9% | -6.7 pts |
| Net margin | 10.5% | 10.9% | -0.4 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Electricity | $169M | $182M | −$12.3M | -7% |
| Product | $46.7M | $177M | −$131M | -74% |
| Energy Storage | $42.8M | $44.9M | −$2.2M | -5% |
| Revenue | $259M | $404M | −$145M | -36% |
| Gross profit | $68.7M | $120M | −$51.7M | -43% |
| Cost of revenue | $190M | $284M | −$93.5M | -33% |
| Operating profit | $34.2M | $80.3M | −$46.1M | -57% |
| Operating expenses | $34.5M | $40.1M | −$5.6M | -14% |
| Pre-tax earnings | $16.3M | $29.1M | −$12.8M | -44% |
| Other expense, net | $17.9M | $51.1M | −$33.3M | -65% |
| Research & development | $1.5M | $1.1M | $369K | +33% |
| Sales & marketing | $6.0M | $5.6M | $391K | +7% |
| General & admin | $21.1M | $27.3M | −$6.2M | -23% |
| Other operating costs | $5.9M | $6.1M | −$142K | -2% |
| Income tax benefit | $9.7M | $15.5M | −$5.8M | -38% |
| Loss borne by minority interests | $1.1M | −$545K | $1.6M | — |
| Net earnings | $27.1M | $44.1M | −$17.0M | -39% |
| Operating cash sources | $113M | $125M | −$12.2M | -10% |
| Depreciation & amortization | $79.6M | $76.4M | $3.2M | +4% |
| Share-based compensation | $6.2M | $4.7M | $1.5M | +32% |
| Working capital & other | $62.3M | $46.6M | $15.7M | +34% |
| Operating cash flow | $50.6M | $78.6M | −$28.0M | -36% |
| Capital expenditures | $138M | $114M | $24.2M | +21% |
| Negative free cash flow (OCF − capex) | $87.4M | $35.2M | $52.2M | +148% |
Questions
How much did Ormat Technologies's revenue grow quarter over quarter in Q2 2026?
Ormat Technologies's revenue fell $145M (-36%) from $404M in Q1 2026 to $259M in Q2 2026.
What drove Ormat Technologies's revenue change in Q2 2026?
Product −$131M (-74%); Electricity −$12.3M (-7%); Energy Storage −$2.2M (-5%).