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Capstone Green Energy (CGRN) investor relations material
Capstone Green Energy Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Revenue rose 78% year-over-year to $27.9M for Q1 FY26, driven by strong growth in microturbine products, accessories, and rentals, and improved gross margin to 27%.
Achieved fifth consecutive quarter of positive adjusted EBITDA, reaching $2.7M, reflecting operational discipline and strategic execution.
Net loss narrowed to $0.7M from $3.9M year-over-year, aided by higher gross profit and reduced non-recurring expenses.
Acquisition of Cal Microturbine expands direct market access in high-growth western U.S. regions and distributed generation markets.
Management is focused on cost reductions, margin expansion, and sales growth, but faces risks from liquidity constraints and market conditions.
Financial highlights
Gross profit doubled to $7.6M, with gross margin improving to 27% from 24% year-over-year.
Product and accessories revenue grew to $15.7M from $5.4M year-over-year; rental revenue increased to $4.3M from $2.4M.
Adjusted EBITDA reached $2.7M, a $2M improvement from the prior year.
Cash and equivalents at quarter-end were $6.6M, with a working capital deficit of $14.2M.
Net cash used in operating activities was $1.6M for the quarter.
Outlook and guidance
Management highlights strong bookings pipeline, focus on operational efficiency, and opportunities in data center and microgrid segments.
Trailing twelve months revenue exceeded $97M, with expectations to surpass $100M in FY26.
Book-to-bill ratio of 1.32 in megawatts signals strong demand and backlog.
Substantial doubt exists regarding the ability to meet obligations over the next twelve months due to liquidity constraints and short-term debt repayments.
Financing discussions are underway to refinance debt and add liquidity, but success is not guaranteed.
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