Record Quarterly Revenue
Net sales of $846.0 million in Q1 FY2026, up 30% year-over-year and an all-time quarterly high.
Strong Non-GAAP EPS and Profitability Expansion
Non-GAAP EPS of $0.75 per diluted share in Q1, a 50% increase year-over-year; GAAP net income of $50.0 million ($0.47/sh) versus $32.2 million ($0.31/sh) prior year.
Adjusted EBITDA Growth and Margin Improvement
Adjusted EBITDA of $132.9 million, up ~33.6% year-over-year, representing a margin of 15.7% versus 15.3% a year ago (improved by ~40 bps).
Gross and Operating Margin Expansion
Gross margin improved to 22.3% (up 150 basis points from 20.8% prior-year) and operating margin rose to 12.8% (up 230 basis points from 10.5%).
Robust End-Market Demand and Mix Tailwinds
Data center & networking sales grew 61% YoY and represented 36% of Q1 sales (expected to be ~42% in Q2); medical, industrial & instrumentation also grew 61% YoY and represented 16% of sales; aerospace & defense represented 40% of sales and grew 11% YoY.
Strong Bookings and Backlog
90-day backlog of $787 million, up from $517 million a year ago (~+52%); overall book-to-bill about 1.41 (commercial 1.65, A&D 1.10).
Improving Operational Ramps (Penang)
Penang yield improvements from ~40% previously to ~70–80%; management expects facility breakeven approaching later in FY2026.
Positive Guidance and Continued Demand Signal
Q2 FY2026 guidance: net sales $930–$970 million and non-GAAP EPS $0.82–$0.88; management expects H1 growth trajectory to continue into H2.