Capstone Green Energy (CGRN) Q1 2026 Earnings Report

Capstone Green Energy reported Q1 2026 revenue of $27.87 million, up 78.17% year over year and 3.03% quarter over quarter, signaling strong top-line momentum as the company scales its microturbine and distributed energy solutions. Despite the revenue growth, the quarter produced an operating loss of $0.17 million and a net loss of $0.70 million, underscoring the ongoing burden of operating expenses and interest costs on a still-maturing revenue base. The gross margin stood at 27.14%, a material improvement versus prior periods, but profitability remains pressured by high SG&A, R&D expenditure, and other costs; EBITDA was negative by $0.17 million and net income margin was -2.50% for the quarter. Cash flow was negative from operations at -$1.60 million, contributing to a net cash decrease of $2.04 million for the period and a cash balance of $6.63 million at period-end. The balance sheet shows total assets of $72.8 million against liabilities of $80.9 million, with stockholders’ equity negative at roughly -$8.2 million, highlighting leverage and ongoing balance-sheet restoration needs. Management commentary (where available) remains focused on accelerating revenue growth and expanding the installed base, while monitoring margin recovery and cost discipline as key levers for achieving breakeven profitability.