10-Q · February 4, 2026
American Superconductor (AMSC) reported significant improvements in Q3 FY2025, with revenue increasing to $74.5 million, a 21.4% rise compared to $61.4 million in the same quarter last year. EPS showed an impressive…
Earnings analysis · 10-K
AMSC earnings analysis
Filed May 27, 2026 · Our reading of the company's report
The latest report
American Superconductor Corporation (AMSC) demonstrated significant growth in fiscal 2025, with total revenues rising by 34% to $299.2 million, driven largely by the Grid segment, which accounted for 84% of the total…
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American Superconductor Corporation (AMSC) demonstrated significant growth in fiscal 2025, with total revenues rising by 34% to $299.2 million, driven largely by the Grid segment, which accounted for 84% of the total revenue. The company's focus on enhancing customer adoption, particularly through its Grid and Wind business segments, reflects its strategic emphasis on sustainability and resilience in power control solutions. However, AMSC recorded a material weakness in internal control, impacting its reporting processes, which poses a potential risk to future performance.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
From revenue to operating profit
Where each $100 of revenue went in this report.
Cost of sales, operating expenses, and what remained. Figures are rounded to whole dollars.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $3.12
- Segment
- Grid
- Segment
- Wind
What stood out
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Revenue Growth of 34%
Total revenue increased to $299.2 million in fiscal 2025, up from $222.8 million in fiscal 2024.
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Significant Tax Benefit
The company recorded a non-cash tax benefit of $118.4 million in fiscal 2025 from the release of valuation allowance against deferred tax assets.
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New Acquisitions Fueling Growth
The recent acquisitions of Comtrafo and Megatran added $21.9 million in revenue in fiscal 2026.
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Strong Cash Position
At March 31, 2026, cash and cash equivalents reached $140.7 million, a substantial increase from $79.5 million in 2025.
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Improved Gross Margins
Gross margin improved to 31% in fiscal 2025, up from 28% in fiscal 2024, due to a better product mix.
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Operating Income Generation
Operating income rose to $11.4 million from a loss of $1.1 million in fiscal 2024.
What to watch
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Material Weakness in Internal Control
Management noted a material weakness in the preparation and review of purchase accounting related to the Comtrafo acquisition, potentially impacting financial reporting.
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Dependency on Key Customers
A significant portion of Wind segment revenues are derived from Inox Wind Limited, accounting for 15% of total revenue; a downturn could severely impact earnings.
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Supply Chain Vulnerabilities
The company relies on third-party suppliers for critical components, making it susceptible to supply disruptions and price fluctuations, heightening operational risk.
Management's outlook
No explicit numerical guidance provided in the 10-K; further outlook deferred to the earnings release.
Earlier filings 4
10-Q · July 30, 2025
AMSC reported strong Q2 results with revenue of $72,358,000 (up 79.6% YoY from $40,290,000) and GAAP net income of $6,724,000 (diluted EPS $0.17) versus a loss in the year‑ago quarter. Gross margin expanded to 33.8% and…
10-Q · February 5, 2025
AMSC's Q3 2025 results show significant improvement with revenue reaching $61.4 million, up 56.21% from $39.4 million in Q3 2024. Gross margins slightly declined to 26.6% while EPS rebounded to $0.06 compared to a loss…
10-Q · November 1, 2023
AMSC reported Q2 revenue of $34,004,000, up $6,324,000 from $27,680,000 a year ago, with gross margin rising to $8,586,000 (≈25.3% of revenue) and operating loss narrowing to $2,369,000. EPS improved to a loss of $0.09…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.