Financial Performance - Fiscal Q2 2026 revenues reached $296 million, a 69% increase year-over-year[3] - Bookings surged to $762 million, reflecting a 268% year-over-year growth, with a book-to-bill ratio of 2.6x[3][6] - Backlog increased to $1.5 billion, up 100% year-over-year and 45% quarter-over-quarter[3][6] - Adjusted Net Income for Q2 was $36 million, a 66% increase compared to the prior year[4][9] - Adjusted EBITDA for Q2 was $60 million, representing a 51% increase year-over-year[5][9] - Full year fiscal 2026 revenue guidance is set between $1,275 million and $1,325 million, indicating a 73% growth at the midpoint[10] - Adjusted EBITDA for the full year is projected to be between $300 million and $310 million, reflecting an 80% increase at the midpoint[10] Capital Expenditures and Investments - Capital expenditures in Q2 were $26 million, primarily for capacity expansion, expected to support up to $5 billion in annual revenues[7] - The company plans to maintain capital expenditures at approximately 1% of revenues annually post-expansion[7] - The initial public offering raised approximately $1.7 billion, with shares trading under the ticker symbol "FPS" starting February 5, 2026[11] Asset and Liability Management - Total current assets increased to $577,580 thousand as of December 31, 2025, compared to $445,147 thousand as of June 30, 2025, representing a 30% growth[22] - Total liabilities increased to $1,107,633 thousand as of December 31, 2025, from $963,400 thousand as of June 30, 2025, marking a 15% rise[22] - Cash and cash equivalents decreased to $106,165 thousand at the end of the period from $111,322 thousand at the beginning, a decline of 5%[26] Operational Performance - Revenues for the three months ended December 31, 2025, were $296,404 thousand, a 69% increase from $175,338 thousand in the same period of 2024[24] - Gross profit for the six months ended December 31, 2025, was $199,708 thousand, up from $130,200 thousand in 2024, reflecting a 53% increase[24] - Net cash provided by operating activities for the six months ended December 31, 2025, was $6,007 thousand, a significant decrease from $59,713 thousand in 2024[26] - Adjusted EBITDA for the six months ended December 31, 2025, was $125,483 thousand, compared to $83,094 thousand in 2024, indicating a 51% increase[27] - Adjusted net income for the six months ended December 31, 2025, was $75,087 thousand, up from $44,789 thousand in 2024, reflecting a 67% increase[30] - Operating expenses for the six months ended December 31, 2025, totaled $148,455 thousand, compared to $88,654 thousand in 2024, representing a 67% increase[24] - Net income attributable to Forgent Intermediate LLC for the six months ended December 31, 2025, was $10,259 thousand, slightly down from $10,874 thousand in 2024[24]
Forgent Power Solutions(FPS) - 2026 Q2 - Quarterly Results