Capstone Energy+ Reports $24.9 Million Revenue, 10.9% Decline Year-Over-Year

Capstone Energy+, Inc. reported a net revenue of $24.9 million for the three months ended June 30, 2026, a decrease of 10.9% from $27.9 million in the same period last year. The decline was primarily attributed to a $5.5 million drop in revenue from the United States and Canada, alongside a $0.3 million decrease in Europe. However, this was partially offset by a $2.4 million increase in revenue from Latin America, driven by higher demand for microturbine products and parts. The company achieved a gross profit of $8.8 million, representing a gross margin of 35%, up from 27% in the prior year, largely due to improved sales of higher-margin microturbine systems.

In terms of operational metrics, Capstone's product and accessories revenue fell to $13.0 million from $15.7 million year-over-year, while parts and services revenue increased to $9.7 million from $8.0 million. Rental revenue also saw a significant decline, dropping to $2.2 million from $4.2 million, primarily due to lower utilization rates. The company’s customer base remains concentrated, with Horizon Power Systems and E-Finity accounting for 41% and 12% of total revenue, respectively.

Strategically, Capstone Energy+ has undergone significant changes, including a name change from Capstone Green Energy Holdings, Inc. effective April 30, 2026, and the commencement of trading on the Nasdaq Global Market under the symbol “CEPL” on July 8, 2026. The company is also focusing on expanding its offerings in the artificial intelligence and data center markets, having developed a new 800-volt direct-current microturbine to support NVIDIA’s AI infrastructure requirements. This initiative is still in the early stages of commercialization.

The company’s financial position showed an increase in cash and restricted cash to $32.3 million as of June 30, 2026, compared to $6.6 million a year earlier. This increase was driven by net cash provided by operating activities of $5.4 million, a significant turnaround from the $1.6 million used in the same period last year. Capstone's total liabilities rose to $85.1 million from $82.0 million, with current liabilities increasing to $75.9 million, reflecting higher accounts payable and deferred revenue.

Looking ahead, Capstone Energy+ aims to leverage its technology and market position to achieve positive cash flow and improve financial performance. The company is focused on diversifying its market presence, particularly in the microgrid energy efficiency and critical power sectors, while continuing to monitor operating expenses and enhance manufacturing efficiency. The outlook remains cautiously optimistic as the company navigates the evolving energy landscape and seeks to capitalize on emerging opportunities in AI and data center applications.