Reported results
- Net sales were $112.6 million, an increase of $27.5 million or 32.3% from Q1 FY2026.
- GAAP gross margin was 28.7% compared with 25.9% in Q1 FY2026; includes $2.9 million in tariff refunds that favorably impacted gross margin by approximately 260 basis points as a non-recurring benefit.
- GAAP net income was $2.6 million or $0.06 per diluted share, compared with a net loss of $3.4 million or $0.08 per diluted share in Q1 FY2026.
- Non-GAAP net income was $2.6 million or $0.06 per diluted share, compared with a net loss of $3.4 million or $0.08 per diluted share in Q1 FY2026.
- Non-GAAP Adjusted EBITDAS was $13.8 million or 12.2% of net sales, compared with $7.4 million or 8.7% of net sales in Q1 FY2026.
- Board authorized a $0.13 per share quarterly dividend, payable to stockholders of record on September 17, 2026, with payment on October 1, 2026.
Guidance
- Q2 FY2027 anticipated sales roughly 10% above prior year.
- Full-year FY2027 revenue expected to grow approximately 5-7% over FY2026.
Notes
GAAP to non-GAAP adjustments exclude relocation costs. Non-GAAP Adjusted EBITDAS calculation methodology changed beginning Q4 FY2026 to include adjustments for both interest expense and interest income (previously only interest expense); this change decreased Q1 FY2027 Adjusted EBITDAS by $547 thousand and Q1 FY2026 by $632 thousand versus prior methodology.
Price and volatility reaction
The stock moved +5.0% on the print. No front-expiry chain was on file, so there is no straddle expected move. 30-day ATM implied volatility moved -26.4 vol points across the event (constant-maturity series — not the front-week crush).
| Measure | Value | Basis |
|---|---|---|
| Close before release | 12.27 | 2026-09-03 |
| Close after release | 12.89 | 2026-09-04 |
| Realised move | +5.0% | close to close |
| 30d ATM IV change | -26.4 vol pts | constant-maturity series, not the front expiry |
Source
The figures above come from the earnings release the company filed with the SEC on 2026-09-03 (8-K, Item 2.02). Read the original filing on sec.gov.
