Earnings

AMSC Sets Record Orders Above $130 Million

The Tip Desk · August 5, 2026 · 2 min read

First-quarter revenue reached a record $94.1 million as the company booked more than $130 million of orders and lifted its 12-month backlog past $300 million.

American Superconductor (AMSC) reported record first-quarter revenue of $94.1 million for the period ended June 30, 2026, up 30% from $72.4 million a year earlier, and said the year-over-year increase was driven by organic growth and the Comtrafo acquisition.

The power-control provider also posted record total orders above $130 million, which it attributed to utility-sector mining developments and traditional energy markets, versus fourth-quarter orders that approached $100 million. The 12-month backlog exceeded $300 million at June 30, up from approximately $280 million at the end of fiscal 2025.

Grid remained the larger of the two reportable segments. Grid revenue was $76.3 million, compared with $60.1 million a year earlier. Wind revenue was $17.8 million. Sequential revenue rose from $86.4 million in the fourth quarter of fiscal 2025.

GAAP net income was $9.5 million, or $0.21 a share, compared with $6.7 million, or $0.17 a share, a year earlier. Operating income was $9.8 million. Non-GAAP net income fell to $7.6 million, or $0.17 a share, from $11.6 million, or $0.30 a share, after an $8.1 million non-cash charge for the change in fair value of contingent consideration.

Gross margin was $24.7 million on $94.1 million of revenue, versus $24.5 million on $72.4 million of revenue a year earlier, so the gross-margin rate compressed. Chairman, President and CEO Daniel P. McGahn said the company is well positioned for gross-margin improvement in the second half of the fiscal year.

Net cash provided by operating activities nearly quadrupled to $16.0 million from $4.1 million a year earlier. Cash, cash equivalents, and restricted cash totaled $153.1 million at June 30, 2026, up from $147.6 million at March 31, 2026. Purchases of property, plant and equipment were $10.4 million.

For the second quarter ending September 30, 2026, AMSC expects revenue to exceed $85.0 million, GAAP net income to exceed $1.0 million, or $0.02 a share, and non-GAAP net income to exceed $8.0 million, or $0.17 a share. The GAAP outlook assumes no changes in fair value of contingent consideration.

Accounts receivable, net, were $80.7 million at June 30. Inventory, net, was $98.0 million. Deferred revenue, current portion, was $84.9 million. The company has set its sights on growth and is well positioned for gross-margin improvement in the second half of the fiscal year.

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