American Superconductor
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American Superconductor (AMSC) investor relations material

American Superconductor Q3 2026 earnings summary

Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
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Q3 2026 earnings summary5 Feb, 2026

Executive summary

  • Q3 FY25 revenue grew 21% year-over-year to $74.5 million, driven by organic growth and the Comtrafo acquisition, with nine-month revenue at $212.7 million.

  • Achieved sixth consecutive quarter of profitability and tenth consecutive quarter of non-GAAP profitability.

  • Net income for Q3 FY25 was $117.8 million ($2.68/share), including a $113.1 million non-cash tax benefit from the release of a valuation allowance on deferred tax assets.

  • Major acquisitions included Comtrafo and NWL, expanding the Grid segment and contributing to revenue and net income.

  • Cash, cash equivalents, and restricted cash totaled $147.1 million at quarter end, up from $85.4 million at the start of the fiscal year.

Financial highlights

  • Q3 FY25 revenue: $74.5 million, up from $61.4 million year-over-year.

  • Gross margin reached 31% for the quarter and 32% for the nine months, up from 27% and 28% in the prior year.

  • Operating income was $3.4 million for the quarter and $12.0 million for the nine months.

  • Non-GAAP net income for Q3 FY25 was $123.5 million ($2.81/share), compared to $6.0 million ($0.16/share) in Q3 FY24.

  • Cash and liquidity at quarter-end: $147.1 million, after $88.3 million cash outflow for Comtrafo acquisition.

Outlook and guidance

  • Q4 FY25 revenue expected to exceed $80 million.

  • Q4 net income expected to exceed $3 million ($0.07/share); non-GAAP net income to exceed $8 million ($0.17/share).

  • Management expects sufficient liquidity to fund operations and capital expenditures for at least the next twelve months.

  • Outstanding performance obligations to be recognized in the next twelve months total $253.5 million.

  • Nine-month revenue nearly matches the prior full fiscal year, indicating strong end-market momentum.

What drives the Q4 net income forecast?
Comtrafo acquisition: future growth impact?
Backlog conversion rate expectations?
Data center solution validation timeline
Comtrafo Brazil expansion plans
Working capital investment for growth outlook
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Frequently asked questions

American Superconductor Corporation is a technology company that provides solutions for the power grid and renewable energy sectors. The company develops and manufactures advanced energy systems, including wind turbine components and grid infrastructure solutions, such as dynamic voltage management systems and superconducting wire. AMSC’s products are designed to enhance the efficiency, reliability, and resilience of electrical grids, as well as to support the integration of renewable energy sources. The company is headquartered in Ayer, Massachusetts, USA, and its shares are listed on the NASDAQ.

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