AMSC Revenue Growth Accelerates After Comtrafo Close

The Tip Desk · November 11, 2026 · 2 min read

Second-quarter sales reached $94.0 million, up more than 40% from a year earlier, after 30% growth in the first quarter.

American Superconductor (AMSC), a provider of power control solutions, reported second-quarter revenue of $94.0 million for the period ended September 30, 2026, a more-than-40% increase from $65.9 million a year earlier. That year-over-year pace quickened from the first quarter, when revenue rose 30% to $94.1 million. The company said the increase was driven by organic growth and the acquisition of Comtrafo.

GAAP net income was $3.0 million, or $0.06 a share, compared with $4.8 million, or $0.11 a share, a year earlier. Non-GAAP net income was $9.1 million, or $0.20 a share, versus $8.9 million, or $0.20 a share, in the year-ago quarter. Operating income rose to $5.4 million from $3.0 million a year earlier. Gross margin expanded to $26.5 million from $20.4 million a year earlier; the company said it delivered quarter-on-quarter gross margin expansion.

Grid revenue increased to $76.7 million from $54.3 million a year earlier. Wind revenue increased to $17.4 million from $11.5 million a year earlier. Chairman, President and CEO Daniel P. McGahn said the quarter reflected continued customer-requested accelerations in project deliveries through the first half of the fiscal year. He said power solutions saw orders exceeding $95 million, driven primarily by traditional and renewable energy as well as demand from materials and utility customers. Total orders were above $95 million, after record total orders above $130 million in the first quarter.

Cash, cash equivalents, and restricted cash totaled $181.9 million on September 30, 2026, compared with $153.1 million at June 30, 2026. McGahn said the company generated over $45 million in operating cash during the first half of the year. He said momentum, quarter-on-quarter gross margin expansion and significant operating cash flow provide a high degree of flexibility for long-term strategic investments in growth.

For the third quarter ending December 31, 2026, AMSC expects revenue to exceed $80.0 million. GAAP net income is expected to exceed breakeven, or $0.00 a share, assuming no changes in fair value of contingent consideration. Non-GAAP net income is expected to exceed $7.0 million, or $0.15 a share. The company said it expects revenue to average approximately $90 million for each of its first three quarters of fiscal 2026. McGahn said the company anticipates strong demand to continue through the second half, ending the fiscal year on a high note and delivering significant year-over-year growth for the full fiscal year.