IPG Photonics (IPGP) Q3 FY2026 earnings: revenue $288 million, up 14.6% on the year

IPG Photonics Corp. (IPGP) reported revenue of $288 million for Q3 FY2026, the quarter ended 30 September 2026, up 14.6% on the same quarter a year earlier. Net income was $20 million, up 171.6% on the year, and diluted earnings per share $0.47. The figures are the company's own, from the 10-Q it filed with the SEC on 3 November 2026.

Revenue

$288 million

+14.6% on the year · +3.2% on the quarter

Q4 FY2024Q3 FY2026

Operating margin

7.2%

3.1% a year earlier

Q4 FY2024Q3 FY2026

Net income

$20 million

+171.6% on the year · +286.7% on the quarter

Q4 FY2024Q3 FY2026

Diluted EPS

$0.47

+161.1% on the year · +291.7% on the quarter

Q4 FY2024Q3 FY2026

this quarterthe same quarter a year earlierHover a bar for its figure.

What management said

Guidance figures: 5 new.

Revenue rose 15% to $287.5 million: Revenue was $287.5 million against $250.8 million a year earlier. Nine-month revenue was $831.6 million, up 14%. Changes in foreign exchange rates added about 1% to revenue.
Adjusted EBITDA and EPS increased: Adjusted EBITDA was $51.5 million against $37.0 million, up 39%. Adjusted EPS was $0.61 against $0.35, up 74%. Nine-month adjusted EPS was $1.49 against $0.96.
Industrial Solutions sales rose 12%: Industrial Solutions sales were $239.5 million, up 12% from $214.7 million. Nine-month Industrial Solutions sales rose 16% to $704.2 million.

Read the earnings call summary

Income statement (profit and loss)

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Revenue	288	279	251	+3.2%	+14.6%
Cost of revenue	170	166	152	+2.6%	+12.3%
Gross profit	117	113	99.0	+4.0%	+18.2%
Gross margin	40.7%	40.4%	39.5%
Research and development	31.3	31.0	30.4	+1.1%	+3.2%
Operating income	20.8	4.5	7.9	+358.6%	+164.5%
Operating margin	7.2%	1.6%	3.1%
Pre-tax income	28.4	12.5	15.7	+126.6%	+81.5%
Income tax	8.1	7.3	8.2	+11.5%	-0.6%
Effective tax rate	28.7%	58.2%	52.3%
Net income	20.3	5.2	7.5	+286.7%	+171.6%
Net margin	7.1%	1.9%	3.0%
Diluted EPS	$0.47	$0.12	$0.18	+291.7%	+161.1%

$ million except per share.

Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Those four are arithmetic on the filed numbers; everything else is as filed. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and share counts are as they are.

Cash flow

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Operating cash flow	46.2	37.8	35.3	+22.3%	+30.9%
Capital expenditure	17.4	20.7	20.7	-15.9%	-16.0%
Free cash flow	28.8	17.1	14.6	+68.6%	+97.5%
Free cash flow margin	10.0%	6.1%	5.8%
Cash from investing	268	-119	-31.4
Cash from financing	-2.9	1.0	-16.5
Depreciation and amortisation	16.0	15.5	15.6	+2.8%	+2.1%
Share-based compensation	11.0	10.3	10.7	+7.2%	+2.6%
Buybacks	2.6	0.0	16.4		-83.9%
Diluted shares, weighted	43m	43m	43m	-0.2%	+0.7%
Shares outstanding at period end	43m	43m	42m	-0.1%	+0.9%

Cash flow lines for the quarter; where the company files them year to date, the quarter is the difference between two filings.

Balance sheet

$ million	Q3 FY2026	Q2 FY2026	Q3 FY2025	On the quarter	On the year
Shareholders' equity	2,155	2,127	2,105	+1.3%	+2.4%
Debt	0.0	0.0	0.0
Operating lease liabilities	10.9	11.1	12.5	-1.5%	-12.5%
Other liabilities	306	286	264	+6.9%	+16.1%
Total liabilities and equity	2,472	2,425	2,381	+2.0%	+3.8%
Fixed assets	648	642	622	+1.0%	+4.2%
Goodwill	70.3	70.5	71.7	-0.3%	-1.9%
Intangible assets	42.8	44.9	52.2	-4.7%	-18.1%
Investments	215	505	555	-57.3%	-61.2%
Cash and equivalents	711	399	346	+78.0%	+105.4%
Receivables	191	182	166	+5.1%	+14.9%
Inventory	338	331	324	+2.1%	+4.3%
Other assets	256	251	244	+2.0%	+4.7%
Total assets	2,472	2,425	2,381	+2.0%	+3.8%

Questions

What was IPG Photonics' revenue in Q3 FY2026?

IPG Photonics (IPGP) reported revenue of $288 million for Q3 FY2026, the quarter ended 30 September 2026, up 14.6% on the same quarter a year earlier.

How much did IPG Photonics earn in Q3 FY2026?

Net income for Q3 FY2026 was $20 million, up 171.6% on the year, and diluted earnings per share $0.47.

When did IPG Photonics report Q3 FY2026 results?

IPG Photonics filed its 10-Q for the quarter ended 30 September 2026 with the SEC on 3 November 2026.

Quarterly results, the last 20 quarters

	Q4 FY2021 *	Q1 FY2022	Q2 FY2022	Q3 FY2022	Q4 FY2022 *	Q1 FY2023	Q2 FY2023	Q3 FY2023	Q4 FY2023 *	Q1 FY2024	Q2 FY2024	Q3 FY2024	Q4 FY2024 *	Q1 FY2025	Q2 FY2025	Q3 FY2025	Q4 FY2025 *	Q1 FY2026	Q2 FY2026	Q3 FY2026
Revenue	364	370	377	349	334	347	340	301	299	252	258	233	234	228	251	251	274	265	279	288
Cost of revenue	198	198	205	199	273	200	192	168	185	154	161	179	144	138	157	152	175	166	166	170
Gross profit	166	172	172	150	60.8	147	148	133	114	97.5	96.2	54.1	90.3	89.8	93.6	99.0	99.1	99.5	113	117
Gross margin	46%	46%	46%	43%	18%	42%	43%	44%	38%	39%	37%	23%	39%	39%	37%	39%	36%	37%	40%	41%
R&D	36.8	33.5	30.6	25.4	26.6	22.8	23.5	24.7	27.7	29.4	27.5	27.2	25.7	28.3	29.9	30.4	28.8	33.3	31.0	31.3
Operating income	84.8	93.1	71.7	93.2	-88.5	75.4	72.1	55.7	28.8	19.1	12.0	-253	14.0	1.8	0.1	7.9	3.3	-7.7	4.5	20.8
Operating margin	23%	25%	19%	27%	-27%	22%	21%	18%	10%	8%	5%	-109%	6%	1%	0%	3%	1%	-3%	2%	7%
Interest expense	0.6	0.1	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a	n/a
Pre-tax income	84.5	92.8	73.5	97.1	-80.0	83.3	81.6	67.8	42.2	33.6	25.0	-243	22.0	10.6	8.3	15.7	10.6	1.0	12.5	28.4
Tax rate	23%	25%	22%	21%	n/a	28%	24%	19%	2%	28%	19%	n/a	64%	65%	20%	52%	-26%	-55%	58%	29%
Net income	65.1	69.6	57.0	76.3	-92.9	60.1	62.3	55.0	41.4	24.1	20.2	-234	7.8	3.8	6.6	7.5	13.3	1.6	5.2	20.3
Net margin	18%	19%	15%	22%	-28%	17%	18%	18%	14%	10%	8%	-100%	3%	2%	3%	3%	5%	1%	2%	7%
Diluted EPS	$1.21	$1.31	$1.10	$1.47	-$1.91	$1.26	$1.31	$1.16	$0.89	$0.52	$0.45	-$5.33	$0.18	$0.09	$0.16	$0.18	$0.31	$0.04	$0.12	$0.47
Operating cash flow	84.5	16.4	78.7	75.9	41.6	37.3	66.7	86.0	106	54.6	53.5	66.1	73.8	13.4	-2.2	35.3	28.8	-5.5	37.8	46.2
Capital expenditure	29.3	25.2	34.7	24.6	25.6	33.4	25.7	26.1	25.2	28.1	24.2	23.1	23.2	24.8	15.4	20.7	17.9	16.3	20.7	17.4
Free cash flow	55.3	-8.8	44.0	51.2	16.0	3.9	40.9	59.9	80.8	26.5	29.2	43.0	50.6	-11.4	-17.6	14.6	10.9	-21.8	17.1	28.8
Buybacks	56.8	78.8	233	71.3	117	113	-0.1	46.5	64.0	89.6	122	74.5	57.3	n/a	n/a	16.4	n/a	0.0	0.0	2.6
Shares outstanding	53m	53m	50m	49m	48m	47m	47m	47m	46m	46m	44m	43m	43m	43m	42m	42m	42m	42m	43m	43m
Filing	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q	10-K	10-Q	10-Q	10-Q

Each quarter as filed, linked to its filing.

* The fourth quarter is the full year less the first three quarters, because the company files the year and not the quarter on its own. A fourth quarter's EPS, and its diluted share count where shown, are from the company's results press release for that quarter, checked against the company's filed figures or a second data source. Money is in $ million as the company files it, or in $ billion by the switch above the tables; per share figures and the share count are as they are. Free cash flow is operating cash flow less capital expenditure; the effective tax rate is income tax over pre-tax income; margins are the line over revenue. Gross profit is revenue less cost of revenue, and operating income is revenue less the company's own total costs, where the statement does not print those lines. Cash flow lines filed year to date are the difference between two filings. Shares outstanding are at the period end where the balance sheet tags them, otherwise the count on the filing's cover page. A derived fourth-quarter EPS is left blank when a split in the year makes the arithmetic meaningless.

10-Q for the period ended 30 September 2026, filed 3 November 2026: the filing.