Filing Flows › Ormat Technologies (ORA) › Q2 2026 › vs Q2 2025
Ormat Technologies (ORA) Q2 2026 vs Q2 2025 (year over year)
Ormat Technologies's revenue rose $24.7M (+11%) from $234M in Q2 2025 to $259M in Q2 2026. The biggest changes: Energy Storage +$28.3M (+195%); Product −$12.9M (-22%); Electricity +$9.3M (+6%). Gross margin 26.5% against 24.3% (+2.2 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 Q2 2025, the increases inside each band.
Margins
| Q2 2026 | Q2 2025 | Change | |
|---|---|---|---|
| Gross margin | 26.5% | 24.3% | +2.2 pts |
| Operating margin | 13.2% | 15.1% | -1.9 pts |
| Net margin | 10.5% | 12.0% | -1.5 pts |
Every line
| Line | Q2 2026 | Q2 2025 | Change | % |
|---|---|---|---|---|
| Electricity | $169M | $160M | $9.3M | +6% |
| Product | $46.7M | $59.6M | −$12.9M | -22% |
| Energy Storage | $42.8M | $14.5M | $28.3M | +195% |
| Revenue | $259M | $234M | $24.7M | +11% |
| Gross profit | $68.7M | $56.9M | $11.8M | +21% |
| Cost of revenue | $190M | $177M | $12.9M | +7% |
| Operating profit | $34.2M | $35.3M | −$1.1M | -3% |
| Operating expenses | $34.5M | $21.6M | $12.9M | +60% |
| Pre-tax earnings | $16.3M | $22.7M | −$6.4M | -28% |
| Other expense, net | $17.9M | $12.6M | $5.3M | +42% |
| Income tax benefit | $9.7M | $5.5M | $4.2M | +77% |
| Loss borne by minority interests | $1.1M | −$153K | $1.2M | — |
| Net earnings | $27.1M | $28.0M | −$960K | -3% |
| Operating cash sources | $113M | $103M | $10.2M | +10% |
| Depreciation & amortization | $79.6M | $70.0M | $9.6M | +14% |
| Share-based compensation | $6.2M | $4.6M | $1.6M | +35% |
| Working capital & other | $62.3M | $5.8M | $56.5M | +974% |
| Operating cash flow | $50.6M | $96.9M | −$46.3M | -48% |
| Capital expenditures | $138M | $135M | $3.2M | +2% |
| Negative free cash flow (OCF − capex) | $87.4M | $37.9M | $49.5M | +130% |
Questions
How much did Ormat Technologies's revenue grow year over year in Q2 2026?
Ormat Technologies's revenue rose $24.7M (+11%) from $234M in Q2 2025 to $259M in Q2 2026.
What drove Ormat Technologies's revenue change in Q2 2026?
Energy Storage +$28.3M (+195%); Product −$12.9M (-22%); Electricity +$9.3M (+6%).