American Superconductor Corporation Reports 34% Revenue Growth to $299.2 Million for Fiscal Year Ending March 31, 2026

American Superconductor Corporation (AMSC) reported significant financial growth for the fiscal year ending March 31, 2026, with total revenues increasing by 34% to $299.2 million, up from $222.8 million in the previous fiscal year. The Grid segment, which includes products such as D-VAR systems and ship protection systems, accounted for the majority of this revenue, generating $251.3 million, a 34% increase from $187.2 million in fiscal 2025. The Wind segment also saw a 34% rise in revenue, reaching $47.8 million, driven by increased shipments of electrical control systems.

The company achieved a net income of $133.8 million, a substantial increase from $6.0 million in the prior year, largely due to a non-cash tax benefit from the release of a valuation allowance against deferred tax assets. This release, amounting to $118.4 million, was based on improved financial performance and expectations of future profitability. Gross margins improved to 31%, up from 28% in the previous year, reflecting a favorable product mix and increased revenues.

Strategically, AMSC made two significant acquisitions: Comtrafo Indústria de Transformadores Elétricos S.A. in December 2025 and Megatran Industries, Inc. in August 2024. The acquisition of Comtrafo, a Brazilian manufacturer of large power and distribution transformers, was valued at approximately $202.9 million, including cash and stock. This acquisition is expected to enhance AMSC's presence in the Latin American market. The company also reported a loss of $4.2 million related to the change in fair value of contingent consideration associated with the Comtrafo acquisition.

Operationally, AMSC's workforce grew to 1,195 employees as of March 31, 2026, reflecting the company's expansion efforts. The company serves over 100 customers globally, with significant contributions from Inox Wind Limited and Fuji Bridex, which accounted for 15% and 10% of total revenues, respectively. AMSC's addressable market is estimated to exceed $15 billion, driven by increasing investments in renewable energy and modernization of power grids.

Looking ahead, AMSC anticipates continued growth, supported by favorable market conditions and strategic initiatives. However, the company acknowledged a material weakness in its internal controls related to the Comtrafo acquisition, which management is actively working to remediate. The company remains focused on enhancing its operational efficiency and expanding its market share in both the Grid and Wind segments.