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How Transcat (TRNS) makes money

Transcat (TRNS) made $97.1M of revenue in the second quarter fiscal 2027 (Q2 FY27), +18% from a year earlier. Service Revenue brought in $64.8M (67%); Distribution Revenue brought in $32.3M (33%). Of every dollar of revenue, 34¢ was left as gross profit, 5¢ was left as operating profit, 2¢ was left as net earnings.

Drawing the Sankey…

Transcat revenue by segment, Q2 FY27Transcat revenue by segment, Q2 FY27Service Revenue$64.8MDistribution Revenue$32.3M
Transcat revenue by quarterTranscat revenue by quarter$77.1MQ4 FY25$76.4MQ1 FY26$82.3MQ2 FY26$83.9MQ3 FY26$89.3MQ4 FY26$92.9MQ1 FY27$97.1MQ2 FY27
Transcat: where each dollar of revenue goesTranscat: where each dollar of revenue goesCost of revenue66¢Gross profit34¢Operating expenses28¢Operating profit5¢Income tax1¢Net earnings2¢Operating cash flow10¢Free cash flow6¢

Revenue by segment, Q2 FY27

SegmentRevenueShareQ/QY/Y
Service Revenue$64.8M66.7%+4%+23%
Distribution Revenue$32.3M33.3%+6%+10%

Where each dollar of revenue goes

LineQ2 FY27% of revenue
Revenue$97.1M100.0%
Cost of revenue$64.5M66.4%
Gross profit$32.6M33.6%
Operating expenses$27.6M28.4%
Operating profit$5.0M5.2%
Income tax$767K0.8%
Net earnings$2.4M2.5%
Operating cash flow$10.1M10.5%
Free cash flow$6.1M6.2%

Revenue, quarter by quarter

QuarterRevenueY/Y
Q2 FY27$97.1M+18%
Q1 FY27$92.9M+22%
Q4 FY26$89.3M+16%
Q3 FY26$83.9M+26%
Q2 FY26$82.3M+21%
Q1 FY26$76.4M+15%
Q4 FY25$77.1M+9%

From Transcat's 10-Q filed Nov 3, 2026 (on EDGAR).

Questions

How does Transcat make money?

Transcat (TRNS) made $97.1M of revenue in the second quarter fiscal 2027 (Q2 FY27), +18% from a year earlier. Service Revenue brought in $64.8M (67%); Distribution Revenue brought in $32.3M (33%). Of every dollar of revenue, 34¢ was left as gross profit, 5¢ was left as operating profit, 2¢ was left as net earnings.

What is Transcat's biggest business?

Service Revenue: $64.8M in the second quarter fiscal 2027, 67% of revenue, +23% from a year earlier.

What is Transcat's profit margin?

Net earnings were $2.4M, 2.5% of revenue, in the second quarter fiscal 2027; the operating margin was 5.2%.

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Updated Nov 8, 2026. Read automatically from SEC filings and public data; errors are possible. Not investment advice.