Capstone Energy+ Reports 24% Revenue Growth to $106M for Fiscal Year Ending March 31, 2026

Capstone Energy+, Inc. reported a significant increase in financial performance for the fiscal year ending March 31, 2026, with total revenue reaching $106.0 million, a 24% increase from $85.6 million in the previous fiscal year. This growth was primarily driven by a 41% rise in product and accessories revenue, which amounted to $56.9 million, reflecting heightened market confidence and improved pricing strategies. The company also noted a net income of $2.8 million, a substantial turnaround from a net loss of $7.2 million in the prior year, although the net loss attributable to common stockholders was $66.8 million due to a non-cash deemed dividend related to preferred stock.

In terms of operational developments, Capstone expanded its direct sales capabilities through the acquisition of Cal Microturbine, which contributed approximately $4.0 million in revenue since its acquisition in August 2025. The company also reported a 10% increase in rental revenue, totaling $15.9 million, driven by higher utilization rates of its rental fleet. The gross profit for the year was $33.9 million, representing a gross margin of 32%, up from 27% in the previous year, attributed to improved pricing realization and a favorable product mix across its revenue streams.

Capstone's strategic focus on the artificial intelligence (AI) data center market is noteworthy, as the company is developing an 800-volt direct-current microturbine solution tailored for the high-density power demands of AI applications. This initiative is part of a broader strategy to capitalize on the growing demand for reliable, on-site power generation solutions, particularly as traditional utility grids struggle to meet the needs of modern data centers. The company views this market as a significant long-term growth opportunity, although it has not yet generated revenue from AI data center applications.

Geographically, the company saw revenue growth across various regions, with the United States and Canada contributing $70.7 million, up from $56.5 million in the previous year. Latin America also experienced a notable increase, with revenue rising to $19.0 million from $9.1 million, driven by increased activity in Mexico. However, revenue in Europe decreased to $9.9 million from $11.3 million, primarily due to a shift from rental to product sales by a large customer.

Looking ahead, Capstone remains focused on enhancing its product offerings and expanding its market presence, particularly in energy efficiency, renewable energy, and critical power supply sectors. The company is committed to improving operational efficiencies and reducing costs while continuing to invest in research and development to support its growth initiatives. The outlook for the upcoming fiscal year appears positive, with management expressing confidence in the company's ability to leverage its technology and market position to drive future growth.