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Virco Mfg (VIRC) investor relations material
Virco Mfg Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary8 Dec, 2025
Executive summary
Net sales declined 42.3% for the quarter and 27.0% for the nine months ended October 31, 2025, compared to the same periods last year, primarily due to the absence of prior year one-time disaster recovery shipments and weaker demand amid macroeconomic uncertainty.
Net loss of $1.3 million for the quarter on sales of $47.6 million, compared to net income of $8.4 million on $82.6 million last year; nine-month net income of $9.6 million on $173.5 million, down from $27.4 million on $237.8 million in the prior year.
Backlog nearly matched prior year levels by Q3 end as order rates stabilized.
Board declared a quarterly cash dividend of $0.025 per share for Q4, payable January 2026.
Gross margin decreased to 38.0% for the quarter and 43.2% for the nine months, reflecting lower sales volume and reduced production levels.
Financial highlights
Quarterly net sales: $47.6 million (down from $82.6 million); nine-month net sales: $173.5 million (down from $237.8 million).
Quarterly net loss: $1.3 million; nine-month net income: $9.6 million.
Quarterly EPS: $(0.08) basic and diluted; nine-month EPS: $0.61 basic and diluted.
Cash at period end: $26.5 million, down from $38.9 million last year.
Inventory increased $4.1 million year-over-year, while accounts receivable decreased $14.4 million.
Outlook and guidance
Management expects the majority of the $26 million order backlog at October 31, 2025, to be delivered in Q4.
Management does not provide formal guidance but notes early signs of demand stabilization at pre-pandemic levels.
Pipeline of projects is beginning to refill, suggesting a possible catch-up in business velocity over the next two to three years.
Traditional seasonal cycle for school furniture has returned to pre-pandemic patterns.
Future growth rates are expected to moderate compared to recent years.
Sales decline: ESSER vs. prior year order impact
How will balance sheet strength be leveraged?
Compare current recovery to post-COVID recovery
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Q4 202616 Apr, 2026
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Frequently asked questions
Virco Mfg. Corporation designs, manufactures, and supplies furniture and equipment primarily for educational environments. The company's product range includes classroom furniture, such as desks, chairs, tables, and storage units, as well as office furniture, seating, and folding tables. Virco serves educational institutions including K-12 schools, colleges, and universities, as well as commercial and government facilities. The company focuses on providing durable, functional, and ergonomic products tailored to the needs of learning spaces. Virco also offers planning, design, and project management services to assist customers in optimizing their educational environments. The company is headquartered in Torrance, California, and its shares are listed on the NASDAQ.
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