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Capstone Green Energy (CGRN) investor relations material
Capstone Green Energy Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 FY2026 revenue reached $26.8 million, up 33% year-over-year, with year-to-date revenue at $83 million, a 42% increase, driven by strong product and parts demand and disciplined execution.
Achieved net income of $1.2 million for the quarter and $1.3 million year-to-date, reversing prior year losses and marking the second consecutive quarter of positive net income.
Gross margin expanded to 39% from 25% year-over-year, reflecting operational efficiency, price increases, and cost reductions.
Adjusted EBITDA for Q3 was $5.1 million, with seven consecutive quarters of positive results and year-to-date Adjusted EBITDA of $12.3 million.
Completed the acquisition of Cal Microturbine, expanding direct distribution and service capabilities.
Financial highlights
Gross profit for Q3 was $10.4 million (39% margin), more than double the prior year.
Product and accessories revenue increased to $13.6 million, with parts and services revenue at $9.3 million; rental revenue declined to $3.9 million.
Cash and equivalents stood at $15.2 million at quarter end, up from $8.7 million at March 31, 2025.
SG&A expenses were $7.4 million (28% of revenue), up $1.1 million year-over-year, including $0.6 million incentive compensation and $0.2 million intangible amortization.
Operating expenses rose to $8.4 million for the quarter, mainly due to higher SG&A and R&D spending.
Outlook and guidance
Management is focused on sustaining margin expansion, optimizing cash flow, and maintaining financial flexibility to support ongoing growth.
Strategic investments in technology, including new low-NOx combustor liners and an 800 VDC platform, are expected to drive future growth.
Addressable markets include ports, microgrids, station power, and data centers, with significant potential for market share capture.
Substantial doubt exists regarding the ability to continue as a going concern due to liquidity constraints and upcoming debt maturities.
Exploring refinancing options for $25.3 million in Exit Roll Up Notes maturing December 2026.
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