Short answer
Keysight Technologies (KEYS) filed its Q1 2026 10-Q quarterly report on Mar 5, 2026 for the quarter ended Jan 31, 2026. Quarterly revenue was $1.6B (up 23.3% year over year) with net income of $281M.
Q1 2026 key financials · XBRL
- Revenue
- $1.6B
- +23.3% YoY
- Net income
- $281M
- +66.3% YoY
- Operating margin
- 15.5%
- EPS (diluted)
- $1.63
- +68.0% YoY
Source: XBRL data from the Keysight Technologies (KEYS) Q1 2026 10-Q on SEC EDGAR. USD.
Keysight Technologies Q1 2026 10-Q analysis
AI summary of MD&A and risk factor updates
Management Discussion & Analysis
- Revenue $1,600M, up 23% YoY; Spirent acquisition contributed $88M (8 ppts) of growth
- Gross margin 62.2% vs 63.1% YoY; operating margin 15.5% vs 16.8% YoY, both pressured by tariffs and acquisition costs
- CSG best performer: revenue $1,124M, up 27% YoY, operating margin 27.5% vs 27.2%; EISG up 15% YoY, operating margin 27.2% vs 27.4%
- Cash $2,195M vs $1,890M at Oct-25; new $1,500M buyback authorized Nov-25, $1,413M remaining; capex guidance ~$160M for FY2026
- Mgmt monitoring tariffs, export controls, and geopolitical risk; confident in long-term secular growth from AI, 5G/6G, and defense modernization
Risk Factors
- Tariff policy uncertainty escalated: new broad-based U.S. tariffs from Q2 FY2025, significantly higher China rates, ongoing federal court litigation post-Learning Resources v. Trump (Feb 2026 SCOTUS ruling)
- Tax refund lawsuit filed Jan 23, 2025 in U.S. Court of Federal Claims seeking $107M; adverse outcome would require reversing previously recorded benefit, materially increasing effective tax rate
- Malaysia tax incentive expired Oct 31, 2025; Singapore incentive expires Jul 31, 2029; renewal not guaranteed, loss could significantly raise effective tax rate
- Centripetal IP litigation active across multiple venues: Federal Circuit heard ITC and USPTO appeals Jan 2026; UPC (Germany/France/Italy/Netherlands) infringement complaint served Aug 2024, ruled in Keysight's favor Dec 2025 but under appeal
Generated from the filing text; verify against the original. 10-K vs 10-Q vs 8-K
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