Lyntris (LYNX) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 90.4% YoY to $194.4M, including 89% organic growth; all three core missions expanded.

• Adjusted EBITDA increased 91% YoY to $28.5M; GAAP net loss was $3.0M, while Adjusted Net Income was $17.0M.

• Backlog reached $1,013.2M at September 30, up 113% from FY25 year-end, with a 1.5x quarterly book-to-bill.

• Nine-month revenue grew 54.9% to $435.4M and Adjusted EBITDA rose 65% to $66.3M.

Financial highlights

• Q3 gross profit increased 56.5% to $43.2M and operating income rose 95.7% to $11.1M.

• Q3 net loss was $3.0M, or $0.03 diluted EPS, versus a $3.5M loss; 9M net loss was $18.0M versus $13.2M.

• Q3 Adjusted Net Income was $17.0M, or $0.15 Adjusted EPS, versus $1.7M, or $0.02; 9M figures were $30.6M and $0.28.

• 9M gross profit grew 34.2% to $107.3M, while operating income declined 7.3% to $12.1M.

• Q3 SG&A included $4.7M for Phantom Unit cash settlement and $2.6M in nonrecurring IPO transaction costs; 9M included $5.7M of IPO costs.

Outlook and guidance

• FY26 revenue guidance is $623M–$630M, implying ~61% growth at the midpoint; Adjusted EBITDA guidance is $95.5M–$97M, implying ~54% growth.

• Growth is expected from established air and missile defense programs, integrated payload execution and awarded maritime work; customer schedules and award timing affect the pace.

• Greater design and initial deployment work may delay adjusted EBITDA margin expansion; longer-term margin improvement plans remain intact.

• Management expressed confidence in 30% or more revenue growth from FY26 to FY27; FY27 guidance was deferred until early 2027.

• Longer-term margin levers include international mix, firm-fixed-price work, operating leverage, integrated solutions and production scale; management cited a two-handle margin ambition and ~100 bps annual improvement.