American Superconductor (AMSC) Q3 2025 earnings summary

Executive summary

• Quarterly revenue reached $61.4 million, up 56% year-over-year, driven by acquisitions and strong Grid and Wind segment growth.

• Net income was $2.5 million for the quarter, compared to a net loss of $1.6 million in the prior year.

• Non-GAAP net income for the quarter was $6.0 million ($0.16/share), up from $0.9 million ($0.03/share) year-over-year.

• Cash and equivalents totaled $80 million at quarter end, with strong operating cash flow and sufficient liquidity projected for the next twelve months.

• Major acquisitions (NWL/Megatran) contributed to revenue and expanded product offerings.

Financial highlights

• Q3 FY2024 revenue: $61.4M (Q3 FY2023: $39.4M); nine-month revenue: $156.2M (2023: $87.9M).

• Gross margin improved to 27% for the quarter (Q3 FY2023: 25%).

• Operating income for Q3 FY2024: $1.3M (Q3 FY2023: -$1.4M).

• Non-GAAP net income: $6.0M for the quarter, $19.3M for the nine months.

• Operating cash flow for the quarter was $5.9M; nine-month operating cash flow was $22.0M.

Outlook and guidance

• Q4 FY2024 revenue expected between $59M and $63M.

• Q4 net loss not to exceed $1M ($0.03/share); non-GAAP net income to exceed $2.5M ($0.07/share).

• Remaining performance obligations total $204.2M to be recognized in the next twelve months.