INNIO (INIO) Q3 2026 earnings summary

Executive summary

• Q3 revenue was a record $1,167.9M, up 57% YoY; Adjusted EBITDA rose 70% to $245.4M, with a 21.0% margin.

• Data Center demand drove Equipment growth and supported raised FY26 guidance; Equipment backlog reached $7.963B, up 142% YoY.

• Growth is supported by capacity expansion and $10.9B of remaining performance obligations, alongside customer concentration and backlog-conversion risks.

Financial highlights

• Q3 revenue was $1,167.9M versus $742.7M; gross profit was $367.7M versus $240.6M, and operating income was $193.6M versus $92.6M.

• Q3 net income was $109.2M; diluted EPS was $0.15 versus $0.05, and diluted Adjusted EPS was $0.15 versus $0.06.

• 9M revenue increased 46% to $2,774.2M; net income was $83.3M versus $136.9M, including $93.6M in IPO and public-market readiness costs.

• 9M Adjusted EBITDA rose 34% to $540.2M; Adjusted Net Income was $177.5M versus $148.6M.

• Q3 operating cash flow was $298M and free cash flow was $201M; capex was $97M.

Outlook and guidance

• FY26 revenue guidance rose to $3.9B–$4.0B from $3.8B–$3.9B, implying 50% growth at the midpoint.

• FY26 Adjusted EBITDA guidance increased $60M to $780M–$800M from $720M–$740M, implying 44% growth at the midpoint.

• Guidance reflects accelerating revenue growth and anticipated margin recovery as volume scales into the cost base; capacity expansion is underway to meet demand.

• Remaining performance obligations were $10.9B at Sep. 30, 2026; ~71% was expected to convert to revenue within 24 months.