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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
OSI Systems
OSI Systems (OSIS) investor relations material
OSI Systems Q1 2027 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2027 earnings summary29 Oct, 2026
Executive summary
Q1 FY2027 revenue reached a record $403.5M, up 5% YoY; non-GAAP diluted EPS set a record at $1.66, up 17%, while GAAP diluted EPS rose to $1.51 from $1.18.
Bookings of $583M drove a 1.4 book-to-bill ratio and record backlog of $2.1B, up from $1.9B at June 30, 2026.
FY2027 revenue guidance was reaffirmed and non-GAAP diluted EPS guidance raised to $11.28–$11.64.
Financial highlights
Revenue rose 5% YoY to $403.472M; product revenue was $289.823M and services revenue was $113.649M.
GAAP net income increased to $24.572M from $20.556M; gross margin declined to 30.7% from 32.0%.
Adjusted non-GAAP operating margin was 9.5%, versus 10.3% a year ago; GAAP operating margin was 8.3%, versus 8.6%.
SG&A was $68.7M, up 2.5%; R&D fell 4.9% to $19.4M, and restructuring and other charges declined to $2.1M from $2.7M.
Operating cash flow was $37.088M versus $17.137M; capital expenditures were $7.655M.
Outlook and guidance
FY2027 revenue guidance remains $1.875B–$1.930B, representing 5.0%–8.1% YoY growth; non-GAAP diluted EPS guidance rose to $11.28–$11.64, or 9.0%–12.5% growth.
Q2 revenue is expected to be modestly down YoY amid a difficult Middle East comparison and Mexico program transition; stronger growth is expected in H2.
Mexico transition headwinds were ~$8M in Q1 and are expected to be ~$11M in Q2; the full-year headwind is expected to remain below $25M and concentrated in H1.
Strong double-digit service revenue growth is expected for FY2027, accelerating from Q2 through H2; gross and operating margins are expected to improve over the balance of the year.
Remaining performance obligations were $2.0B at September 30, 2026, with ~64% expected to convert to revenue within 12 months; full-year free cash flow is expected to exceed net income.
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Latest events from OSI Systems
- Board backs six nominees, Grant Thornton LLP for FY27, and FY26 executive pay.OSIS
Proxy filing - Shareholder votes center on director elections, auditor ratification, and performance-linked pay.OSISProxy filing
- Record backlog and strong FY27 guidance driven by technology leadership and recurring revenues.OSISInvestor presentation
- Record revenues, EPS, and cash flow set stage for 2027 growth despite Middle East delays.OSISQ4 2026
- International growth, strong backlog, and service revenue drive margin expansion and future opportunities.OSISBank of America’s 33th Annual Industrials, Transportation and Airlines Key Leaders Conference
- Security and optoelectronics drive growth, with healthcare poised for a turnaround in 2027.OSISMorgan Stanley Technology, Media & Telecom Conference 2026
- Strong U.S. government pipeline and robust international demand drive growth outlook.OSISOppenheimer 21st Annual Industrial Growth Virtual Conference
- Record Q2 results and raised EPS guidance reflect strong Security and Optoelectronics growth.OSISQ2 2026
- Record Q2 results, raised guidance, and strong Security division momentum signal robust growth.OSISQ2 2025
Next OSI Systems earnings date
Q2 202728 Jan, 2027
OSI Systems
Next OSI Systems earnings date
Q2 202728 Jan, 2027
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Frequently asked questions
OSI Systems, Inc., together with its subsidiaries, designs, manufactures, and sells electronic systems and components for homeland security, healthcare, defense and aerospace, and commercial markets in the United States and internationally. It operates through three segments: Security, Healthcare, and Optoelectronics and Manufacturing. The Security segment offers security and inspection systems to detect threats from vapor and trace particles associated with explosives; weapons; chemicals; narcotics; contraband items; people; pallets; containers; vehicles; suitcases; cargo holds of aircrafts, ships, trucks and trains.