Filing Flows › Power Solutions International (PSIX) › Q1 2026
Power Solutions International (PSIX) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 11, 2026
Power Solutions International (PSIX) reported revenue of $129M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -33% from the quarter before. Operating margin was 8.9%, net earnings $7.3M (5.7% of revenue).
Power Solutions International, Q1 2026: revenue $129M (-5% year over year), operating margin 8.9%, net earnings $7.3M, operating cash flow $19.1M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $129M | -33% | -5% |
| Gross profit | $29.4M | -30% | -27% |
| Operating profit | $11.4M | -53% | -54% |
| Net earnings | $7.3M | -55% | -62% |
| Operating cash flow | $19.1M | — | +117% |
| Free cash flow | $17.2M | — | +219% |
What changed
Revenue was $128.6M in Q1 2026, down 5% year over year and down 33% from the previous quarter. Power Systems was the largest line at 75% of revenue. Power Systems lost $10.2M year over year (down 10%), 148% of the total change.
Gross margin was 22.9%, down 6.9 points from Q1 2025. Operating profit was $11.4M, a 8.9% margin (down 9.3 points year over year). Operating expenses grew 15% against a revenue fall of 5%. The fastest-growing cost line was Sales & marketing (+17%). Net earnings were $7.3M, down 62% year over year. The effective tax rate was 25.0%.
Operating cash flow was $19.1M (up 117% year over year), 262% of net earnings. Non-cash charges added back $1.7M of depreciation and amortization and $424K of share-based compensation. Working capital and other items added $9.7M. Capital expenditures of $1.9M left free cash flow of $17.2M.
Questions
What was Power Solutions International's revenue in the first quarter 2026?
Power Solutions International (PSIX) reported revenue of $129M for the first quarter 2026 (Q1 2026), -5% from a year earlier and -33% from the quarter before.
Was Power Solutions International profitable in the first quarter 2026?
Operating profit was $11.4M (8.9% of revenue) and net earnings $7.3M.