Capstone Energy+ (CEPL) Q4 2026 earnings summary

Executive summary

• Achieved first full year of positive net income, marking a significant turnaround from a prior year loss.

• Revenue grew 24% year-over-year to $106.0M, with Adjusted EBITDA up $8.0M to $15.9M and gross profit up 45% to $33.9M.

• Secured $112.5M strategic investment, simplifying the capital structure, redeeming legacy preferred equity, and making the main operating subsidiary wholly owned.

• Launched a global national accounts program, expanded sales team, and rebranded to reflect a shift to a broader energy solutions platform.

• Achieved clean audit opinion and fully remediated all previously identified material weaknesses.

Financial highlights

• FY26 revenue reached $106.0M, up from $85.6M in FY25, with full-year product revenue increasing $16.6M year-over-year.

• Gross profit increased to $33.9M with gross margin expanding to 32.0% from 27.2% year-over-year.

• Adjusted EBITDA rose to $15.9M from $7.9M in FY25.

• Net income for FY26 was $2.8M, a turnaround from a $7.2M loss in FY25.

• Q4 FY26 revenue was $23.0M, down from $27.1M in Q4 FY25, but gross margin improved to 30.1%.

Outlook and guidance

• Strategic focus on data center market expansion, technology roadmap execution, and disciplined execution across core and growth markets.

• Ongoing investments in power architecture, emissions reduction, and system efficiency.

• Expected go-to-market for enhanced heat recovery system in September 2026.

• Management sees a large addressable market beyond data centers and is building a team to pursue these opportunities.