Australia segment sales fell 50.1% to $30.6 million due to normalization of sprayer deliveries, with a pretax loss of $2.1 million versus prior year pretax income of $1.4 million.
Construction segment sales decreased 10.2% to $72 million with a pretax loss of $1.2 million compared to prior year pretax income of $0.2 million.
Domestic Agriculture segment sales declined 18.7% to $345.8 million with a pretax loss of $12.3 million versus prior year pretax income of $6.7 million.
Europe segment sales increased 44% to $98.1 million, driven by Romania and EU stimulus, with pretax income rising to $5.1 million from a $2.3 million loss.
Gross profit decreased to $93.6 million from $112.4 million, with gross margin at 17.1% versus 17.7% last year.
Net loss was $6 million, or $0.26 loss per diluted share, compared to adjusted net income of $4 million or $0.17 EPS last year.
Operating expenses decreased 2.6% year-over-year to $92.7 million, and floorplan interest expense declined to $11.5 million from $13 million.
Total revenue for Q2 fiscal 2026 was $546.4 million, down 14% from $633.7 million in the prior year period.
Cash and cash equivalents totaled $25.3 million as of June 30, 2025, with no debt; cash burn was approximately $30 million in H1 2025.
Gross profit was $2.1 million or 7.3% of revenues, impacted by $6.4 million in noncash nonrecurring charges; adjusted gross margin excluding these was 29.7%.
Loss per share was $0.31, adjusted loss per share was $0.26, and adjusted EBITDA loss was $24.4 million.
Operating expenses were $34.3 million, including $10.1 million in noncash charges; adjusted operating expenses showed a 23% year-over-year improvement.
Other revenues rose 47% year-over-year to $2.4 million, primarily due to increased warranty revenue.
Product revenues grew 73% sequentially to $14.5 million, driven by strong demand for DC fast chargers and Level 2 units.
Q2 2025 revenues were $28.7 million, down from $33.3 million in Q2 2024 but showing 38% sequential growth from Q1 2025.
Service revenues increased 46% year-over-year to $11.8 million, reflecting higher charger utilization and growth in Blink-owned assets.
Dafinchi