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Richardson Electronics (RELL) Q1 FY26 earnings results (first quarter fiscal 2026)
10-Q filed Oct 9, 2025
Richardson Electronics (RELL) reported revenue of $54.6M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and +5% from the quarter before. Operating margin was 1.8%, net earnings $1.9M (3.5% of revenue).
Richardson Electronics, Q1 FY26: revenue $54.6M (+2% year over year), operating margin 1.8%, net earnings $1.9M, operating cash flow $1.4M. The chart follows the revenue to costs, profit and cash.
| Q1 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $54.6M | +5% | +2% |
| Gross profit | $16.9M | +3% | +3% |
| Operating profit | $968K | +53% | +206% |
| Net earnings | $1.9M | +78% | +224% |
| Operating cash flow | $1.4M | 18× | +232% |
| Free cash flow | $342K | — | — |
What changed
Revenue was $54.6M in Q1 FY26, up 2% year over year and up 5% from the previous quarter. Power and Microwave Technologies Group was the largest line at 72% of revenue. Power and Microwave Technologies Group added $1.1M year over year (up 3%), 121% of the total change. Global Energy Solutions declined 10%.
Gross margin was 31.0%, up 0.4 points from a year earlier. Operating profit was $1.0M, a 1.8% margin (up 1.2 points year over year). Of the extra revenue versus a year earlier, 74% reached operating profit, above the 1% margin then. Operating expenses fell 1% while revenue rose 2%. Net earnings were $1.9M, up 224% year over year. The effective tax rate was 18.1%. Non-operating items added $1.4M, 58% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $1.4M (up 232% year over year), 72% of net earnings. Non-cash charges added back $1.0M of depreciation and amortization and $641K of share-based compensation. Working capital and other items used $2.2M. Capital expenditures of $1.0M left free cash flow of $342K.
Questions
What was Richardson Electronics' revenue in the first quarter fiscal 2026?
Richardson Electronics (RELL) reported revenue of $54.6M for the first quarter fiscal 2026 (Q1 FY26), +2% from a year earlier and +5% from the quarter before.
Was Richardson Electronics profitable in the first quarter fiscal 2026?
Operating profit was $968K (1.8% of revenue) and net earnings $1.9M.