Short answer
AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC) filed its fiscal 2025 10-K annual report with the SEC on May 21, 2025. It reported revenue of $223M (+53.0% year over year) and net income of $6M.
- Top risk flagged: Legal risk from cybersecurity breaches under NIST framework compliance, with annual third-party penetration testing and incident response drills
FY2025 key financial metrics · XBRL
- Revenue
- $223M
- +53.0% YoY
- Net income
- $6M
- +154.3% YoY
- Operating margin
- -0.5%
- +7.3 pp YoY
- Gross margin
- 27.8%
- +3.5 pp YoY
- EPS (diluted)
- $0.16
- +143.2% YoY
- ROE
- 3.1%
- +10.7 pp YoY
- Operating cash flow
- $28M
- +1223.0% YoY
Source: XBRL data from the AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC) FY2025 10-K on SEC EDGAR. USD.
AMERICAN SUPERCONDUCTOR CORP /DE/ FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business: Megawatt-scale power resiliency solutions leveraging proprietary smart materials and controls
- New acquisition: Megatran Industries for $61.4M, adding engineered power conversion solutions to Grid segment
- Strategic shift: Expanded military and industrial power conversion capabilities via Megatran acquisition, improving product and market diversification
- Quantitative highlight: Revenue increased to $222.8M from $145.6M, driven by $50.5M contribution from Megatran since August 2024
- Noteworthy fact: First full fiscal year including Megatran, contributing $6.0M net income and $0.8M intangible amortization
Management Discussion & Analysis
- Revenue $222.8M, up 53% YoY from $145.6M, Grid $187.2M (+53%), Wind $35.6M (+51%)
- Gross margin 28% vs 24%, Grid operating income $1.8M vs loss $6.9M, Wind operating income $3.8M vs $0.4M
- Net income $6.0M vs net loss $11.1M; Non-GAAP net income $24.0M vs $0.6M; operating loss improved due to acquisition and higher revenues
- Operating cash flow $28.3M vs cash used $2.1M; investing cash flow outflow $35.2M due to $61.4M acquisition of NWL; no significant financing cash flow in FY2025
- Management highlights risks from geopolitical conflicts, supply chain disruptions, and trade conflicts; acquired Megatran (NWL) to boost Grid segment growth
Risk Factors
- Legal risk from cybersecurity breaches under NIST framework compliance, with annual third-party penetration testing and incident response drills
- Operational risk due to reliance on third-party vendors for cybersecurity monitoring and vulnerability assessments, critical to business continuity
- Governance risk from concentration of cybersecurity oversight delegation to CFO and IT Director, responsible for reporting to Audit Committee annually
- Cyber risk exposure to potential material impact on operations or financial condition if IT systems or critical third-party providers are compromised
Generated from the filing text; verify against the original. How to read a 10-K
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