Capstone Energy+ returns to full-year profitability in FY26
Capstone Energy+ reported fiscal 2026 revenue of $106.0 million, a 24% increase, and net income of $2.8 million, marking a return to full-year profitability. The company completed a $112.5 million strategic investment and achieved a clean audit opinion.

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Capstone Energy+, Inc. (OTCQX: CGEH) returned to full-year profitability in fiscal 2026, reporting net income of $2.8 million compared to a net loss of $7.2 million in the prior year. The company achieved revenue of $106.0 million for the year ended March 31, 2026, a 24% increase from $85.6 million in fiscal 2025, driven by a 41% rise in product and accessories revenue to $56.9 million.
Gross profit increased 45% to $33.9 million, representing 32% of revenue, up from 27% in the previous year. The company’s adjusted EBITDA for fiscal 2026 was $15.9 million, compared to $7.9 million in fiscal 2025. For the fourth quarter ended March 31, 2026, revenue was $23.0 million and net income was $1.5 million.
During the quarter, Capstone completed a $112.5 million strategic investment that simplified its capital structure by redeeming legacy preferred equity at the operating subsidiary level. The company also launched its new brand, Capstone Energy+, reflecting its evolution into a behind-the-meter energy solutions platform. Additionally, the company achieved a clean audit opinion and fully remediated all previously identified material weaknesses, with independent auditors issuing an unqualified opinion with no going concern qualification.
Operational Highlights
Capstone advanced several key projects and product developments during the period, including:
- Secured the first C1000 Signature Series order in Brazil for a natural gas compression station.
- Advanced a 6.6MW renewable biogas project in North Carolina to convert livestock waste into power.
- Added a Utah hospitality CHP project using two C800 Signature Series microturbines.
- Completed North American certifications for its C200 and C1000 product families.
Financial Performance
| Metric | Fiscal 2026 | Fiscal 2025 |
|---|---|---|
| Revenue | $106.0 million | $85.6 million |
| Net Income (Loss) | $2.8 million | $(7.2) million |
| Gross Profit | $33.9 million | $23.3 million |
| Adjusted EBITDA | $15.9 million | $7.9 million |
Cash and restricted cash totaled $28.9 million at March 31, 2026, compared to $8.7 million at the end of fiscal 2025. The increase was primarily attributed to financing activity completed during the fourth quarter, partially offset by the redemption of legacy preferred equity and debt repayment.
How will the $112.5 million strategic investment and simplified capital structure impact Capstone's ability to fund future acquisitions or R&D?
What revenue growth trajectory does the company expect for fiscal 2027 following the 24% increase in fiscal 2026?
Will the new C1000 Signature Series orders in Brazil and North American certifications drive significant international market expansion?






















