Filing Flows › Winmark (WINA) › Q2 2026 › vs Q1 2026
Winmark (WINA) Q2 2026 vs Q1 2026 (quarter over quarter)
Winmark's revenue rose $1.1M (+5%) from $20.8M in Q1 2026 to $22.0M in Q2 2026. The biggest changes: Royalties +$854K (+4%); Merchandise sales +$205K (+31%); Franchise fees +$77K (+22%). Operating margin 62.1% against 59.3% (+2.8 pts).
Winmark, Q2 2026: revenue $22.0M (+8% year over year), operating margin 62.1%, net earnings $10.4M, operating cash flow $10.7M. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 62.1% | 59.3% | +2.8 pts |
| Net margin | 47.3% | 44.4% | +2.9 pts |
| Free cash flow margin | 48.7% | 56.9% | -8.2 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Royalties | $20.1M | $19.3M | $854K | +4% |
| Merchandise sales | $859K | $654K | $205K | +31% |
| Other | $570K | $590K | −$20K | -3% |
| Franchise fees | $420K | $343K | $77K | +22% |
| Revenue | $22.0M | $20.8M | $1.1M | +5% |
| Operating profit | $13.6M | $12.4M | $1.3M | +10% |
| Costs & expenses | $8.3M | $8.5M | −$163K | -2% |
| Pre-tax earnings | $13.2M | $11.9M | $1.3M | +11% |
| Other expense, net | $454K | $495K | −$41K | -8% |
| SG&A | $7.5M | $7.9M | −$363K | -5% |
| Other operating costs | $818K | $618K | $200K | +32% |
| Net earnings | $10.4M | $9.3M | $1.1M | +12% |
| Income tax | $2.8M | $2.6M | $180K | +7% |
| Depreciation & amortization | $181K | $184K | −$3K | -2% |
| Share-based compensation | $614K | $614K | $100 | 0% |
| Working capital & other | $460K | −$1.8M | $2.3M | — |
| Operating cash flow | $10.7M | $11.9M | −$1.1M | -10% |
| Free cash flow (OCF − capex) | $10.7M | $11.9M | −$1.2M | -10% |
| Capital expenditures | $40K | $15K | $26K | +176% |
Questions
How much did Winmark's revenue grow quarter over quarter in Q2 2026?
Winmark's revenue rose $1.1M (+5%) from $20.8M in Q1 2026 to $22.0M in Q2 2026.
What drove Winmark's revenue change in Q2 2026?
Royalties +$854K (+4%); Merchandise sales +$205K (+31%); Franchise fees +$77K (+22%).