EarningsQ4 2025 Earnings Report
MX:AMSC Q4 2025 EPS Results
Actual EPS$5.45
Consensus EPS$3.36
Beat/MissBeat by +$2.09
One Year Ago EPS$2.18
MX:AMSC Q4 2025 Revenue Results
Actual Revenue$1.57B
Expected Revenue$1.49B
Beat/MissBeat by +$78.28M
YoY Revenue Growth+29.63%
Earnings Announcement Details
QuarterQ4 2025
Date05/27/2026
TimeAfter Close
Conference CallWednesday, May 27, 2026
MX:AMSC Upcoming Earnings
American Superconductor's next earnings date is estimated for November 4, 2026, based on past reporting schedules.
Q4 2025 Earnings Call Audio
MX:AMSC Q4 2025 Earnings Call
0:00 / 0:00
Q4 2025 Earnings Slide Deck
No slide deck is available for this earnings event.
Q4 2025 Earnings Call Summary
Earnings Call Sentiment|Positive
The call presented a broadly positive picture: record quarterly revenue, double‑digit and mid‑30s annual growth, significant backlog expansion (~40% YoY 12‑month backlog), sustained GAAP and non‑GAAP profitability, stronger gross margins, a fortified cash position (~$148M), and strategic expansion via the Comtrafo acquisition and new wins (defense, Inox wind ECS, initial data center orders). The primary negatives were integration and acquisition-related noncash charges (purchase accounting and a $4.2M contingent consideration loss), higher R&D/SG&A tied to the acquisition, and a one‑time tax benefit that may not recur (management warns taxes will normalize as NOLs are used). Operationally, labor-driven capacity scaling and the early-stage nature of the data center opportunity introduce execution and timing risk. Overall, the positives — strong revenue, orders, backlog, margins, cash, and profitable operations — materially outweigh the one‑time and integration headwinds.Company Guidance
Record Revenue Quarter and Strong Fiscal Year Growth
Q4 revenue of $86.4M (reported as >$85M) — up ~30% YoY vs $66.7M; fiscal 2025 revenue $299M — up 34% YoY vs $223M. Company delivered 7 consecutive quarters of GAAP profitability and 11 consecutive quarters of non-GAAP profitability, marking sustained profitable operations.
Robust Order Intake and Growing Backlog
Q4 orders reached nearly $100M. 12‑month backlog exceeded $280M — ~40% increase vs prior-year 12‑month backlog of $200M. Average quarterly orders in FY25 exceeded $70M (vs ~$60M prior year, adjusting for a one-time Navy order). Total new orders booked in FY25 were nearly $290M.
Segment Performance — Grid and Wind
Grid Q4 revenue $73.7M — up 33% YoY; grid comprised ~84% of FY25 revenue and grew 34% YoY. Wind Q4 revenue ~$12.7M — up 15% YoY; wind FY revenue grew 34% YoY and comprised ~16% of FY25 revenue. Inox orders: nearly $50M for 2MW/3MW ECS with ~40% shipped in the fiscal year.
Gross Margin Expansion
Q4 gross margin 27.3% vs 26.5% year-ago (Q4 included ~170 bps drag from Comtrafo purchase accounting adjustments). FY25 gross margin 30.5% vs 27.8% in FY24 — a 270 bps expansion year-over-year.
Improved Profitability and Strong Cash Position
Q4 GAAP net income $4.5M ($0.10/share) vs $1.2M prior-year; Q4 non-GAAP net income $14.1M ($0.31/share) vs $4.8M prior-year. FY25 GAAP net income $13.4M ($3.12/share) and non-GAAP $15.8M ($3.68/share). Cash and restricted cash ended FY25 at ~$148M (vs $85.4M prior year). Operating cash flow: $9.3M in Q4 and $23.1M for the full year.
Strategic Acquisition and Geographic Expansion
Completed acquisition of Comtrafo, broadening transformer product portfolio and expanding presence in Brazil/Latin America; management cites Comtrafo as enabling large power transformer opportunities in Brazil and LatAm with a roadmap to qualify for North American opportunities over time.
Defense and Military Execution
Delivered another Ship Protection System (SPS) to the US Navy (USS Richard McCool Jr.) and completed 4 of 5 SPS deliveries to date. Expect first delivery to the Royal Canadian Navy in FY26; continued sales of power supplies for shipyards and docked vessels.
Operational Scale-Up and Workforce Growth
Employee base expanded from ~690 to ~1,200 during FY25, supporting scaling of operations across segments and geographies; management reports factories can scale capacity principally by adding labor/shifts.
MX:AMSC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed