Filing Flows › Transcat (TRNS) › Q2 FY26
Transcat (TRNS) Q2 FY26 earnings results (second quarter fiscal 2026)
10-Q filed Nov 5, 2025
Transcat (TRNS) reported revenue of $82.3M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and +8% from the quarter before. Operating margin was 4.3%, net earnings $1.3M (1.5% of revenue).
Transcat, Q2 FY26: revenue $82.3M (+21% year over year), operating margin 4.3%, net earnings $1.3M, operating cash flow $12.9M. The chart follows the revenue to costs, profit and cash.
| Q2 FY26 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $82.3M | +8% | +21% |
| Gross profit | $26.8M | +4% | +26% |
| Operating profit | $3.5M | -34% | -6% |
| Net earnings | $1.3M | -61% | -61% |
| Operating cash flow | $12.9M | +256% | +88% |
| Free cash flow | $8.4M | — | +194% |
What changed
Revenue was $82.3M in Q2 FY26, up 21% year over year and up 8% from the previous quarter. Service was the largest line at 64% of revenue. Service added $8.8M year over year (up 20%), 61% of the total change.
Gross margin was 32.5%, up 1.3 points from a year earlier. Operating profit was $3.5M, a 4.3% margin (down 1.2 points year over year). Operating profit fell $230K even though revenue rose $14.4M versus a year earlier, so costs grew faster than sales. Operating expenses grew 33% against revenue growth of 21%. The fastest-growing cost line was General & admin (+36%). Net earnings were $1.3M, down 61% year over year. The effective tax rate was 37.5%.
Operating cash flow was $12.9M (up 88% year over year), 1015% of net earnings. Non-cash charges added back $6.5M of depreciation and amortization and $1.8M of share-based compensation. Working capital and other items added $3.3M. Capital expenditures of $4.4M left free cash flow of $8.4M.
Questions
What was Transcat's revenue in the second quarter fiscal 2026?
Transcat (TRNS) reported revenue of $82.3M for the second quarter fiscal 2026 (Q2 FY26), +21% from a year earlier and +8% from the quarter before.
Was Transcat profitable in the second quarter fiscal 2026?
Operating profit was $3.5M (4.3% of revenue) and net earnings $1.3M.
Source: Transcat 10-Q on SEC EDGAR.