AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC) FY2025 10-K Annual Report
AMERICAN SUPERCONDUCTOR CORP /DE/ (AMSC) 10-K annual report for fiscal year 2025, filed with SEC EDGAR on May 21, 2025. This page provides AI-powered analysis including business overview, management discussion & analysis (MD&A), risk factors, and key financial data such as revenue, net income, gross margin, operating margin, and return on equity (ROE) extracted from XBRL.
AMERICAN SUPERCONDUCTOR CORP /DE/ FY2025 10-K Analysis
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
AMERICAN SUPERCONDUCTOR CORP /DE/ FY2025 Key Financial MetricsXBRL
Revenue
$223M
▲ +53.0% YoY
Net Income
$6M
▲ +154.3% YoY
Gross Margin
27.8%
▲ +353bp YoY
Operating Margin
-0.5%
▲ +732bp YoY
Net Margin
2.7%
▲ +1034bp YoY
ROE
3.1%
▲ +1075bp YoY
Total Assets
$311M
▲ +33.4% YoY
EPS (Diluted)
$0.16
▲ +143.2% YoY
Operating Cash Flow
$28M
▲ +1223.0% YoY
Source: XBRL data from AMERICAN SUPERCONDUCTOR CORP /DE/ FY2025 10-K filing on SEC EDGAR. All figures in USD.
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