Consolidated Revenue Growth and VOXX Contribution
Consolidated net sales of $675.4M in Q1 2026, up 17% year-over-year; VOXX contributed $88.6M of revenue during the quarter and was ~9% above beginning-of-quarter forecast.
Core Gentex Revenue Resilience
Core Gentex revenue totaled $586.8M, up 2% year-over-year despite global light vehicle production declining >3%; North America revenue rose ~6% while base auto-dimming unit shipments were down in some regions.
Gross Margin Expansion
Consolidated gross margin improved to 33.8% from 33.2% a year ago; Core Gentex gross margin was 34.0%, an 80 basis point increase year-over-year and the company reported nearly 200 basis points of operational gross margin improvement driven by efficiencies and favorable product mix.
Improved Profitability and EPS
Consolidated income from operations of $123.7M (vs. $113M prior year); consolidated net income of $98.5M (vs. $94.9M) and diluted EPS of $0.46 (vs. $0.42). Non-GAAP adjusted EPS $0.48 vs. $0.43 prior year.
VOXX Integration Progress and Profitability
One year after acquisition, VOXX achieved profitability; first-quarter contribution $88.6M and management highlighted cost improvements and ongoing integration benefits with plans to scale product launches and channels.
Strong Product Launches and Technology Adoption
Multiple complex launches underway (Gen 4 FDM, CMOS imaging sensors, in-cabin monitoring, dimmable visors, large area devices); Full Display Mirror performed strongly with expected incremental 200K–400K units vs. last year; driver monitoring shipping to Rivian, Volvo and Polestar.
Diversification and Growth in Other Product Lines
Other product lines (aircraft windows, fire protection, medical, biometrics) grew to $20.6M in Q1 vs. $12.9M prior year (nearly 60% increase), driven by aircraft window, fire protection and biometric sales increases.
Capital Allocation and Liquidity
Repurchased 3.3M shares for $71.6M in Q1 (avg $22.10); cash and cash equivalents increased to $164.8M from $145.6M at year-end; short- and long-term investments $280.4M.
Raised Full-Year Revenue Guidance
Updated consolidated 2026 revenue guidance increased to $2.65B–$2.75B (guidance raised while maintaining full-year gross margin guidance of 34%–35%). 2027 revenue outlook updated to $2.8B–$2.9B.