AMSC on Nasdaq

American Superconductor

Logo: The logo is from the following website: http://www.amsc.com/ http://www.thecabledirectory.com/upload_images/AmericanSuperconductorLogo_12.gif, Non-free logo, via Wikipedia⁴

American energy technologies company

Price unavailable

Last updated Oct 16, 2026.

Overview

$299.2MRevenue, fiscal 2026⁵

$133.8MNet income, fiscal 2026⁵

1987Founded¹

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TickerAMSC on Nasdaq¹
IndustryMotors & Generators¹
HeadquartersDevens¹
Websitewww.amsc.com
Incorporated inDE⁶
Business addressSixty Four Jackson Road, Devens, Ma 01434⁶
Filer categoryLarge accelerated filer⁶

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American Superconductor Corporation (AMSC) is an American energy technologies company headquartered in Ayer, Massachusetts. The firm specializes in using superconductors for the development of diverse power systems, including but not limited to superconducting wire. The company operates across three primary business segments: production of high-temperature superconductor (HTS) wire, which has a significantly higher electrical current capacity than copper wire; development of HTS-based motors and generators; and design and manufacturing of power electronic systems for wind farms and transmission systems. AMSC employs superconductors in the construction of ship protection systems. The company has a subsidiary, AMSC Windtec, located in Klagenfurt, Austria.³

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

30.5%Gross margin⁵

3.8%Operating margin⁵

44.7%Net margin⁵

34.3%Revenue growth, 2026⁵

24.1%Return on equity⁵

$18.3MFree cash flow⁵

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Business segments

Grid brought in 84% of the revenue American Superconductor broke down this way in fiscal 2026.

Grid$251.3M⁵84%up 34% from 2025
Wind$47.8M⁵16%up 34% from 2025

Business segments by year

Business segments	2024	2025	2026
Grid	$122.1M	$187.2M	$251.3M
Wind	$23.6M	$35.6M	$47.8M

Where the money goes

Where each dollar of revenue went, fiscal 2026

Cost of revenueIncome taxProfit

Cost of revenue39¢$207.8M
Research and development3¢$15.7M
Selling, general and admin11¢$57.6M
Income tax22¢$117.1M
Profit25¢$133.8M

Out of $299.2M in revenue.⁵

Where each dollar of operating cash went, fiscal 2026

Capital spendingKept or used elsewhere

Capital spending21¢$4.9M
Kept or used elsewhere79¢$18.3M

Out of $23.1M of cash from operations.⁵

Financial statements

Revenue⁸⁹¹⁰¹¹¹²⁵$299.2M in 2026+432% since 2019

Gross profit⁸¹¹¹²⁵$91.4M in 2026+552% since 2019

Operating income⁸⁹¹⁰¹¹¹²⁵$11.4M in 2026−66% since 2019

Net income⁸⁹¹⁰¹¹¹²⁵$133.8M in 2026+400% since 2019

Every line of the income statement in the latest annual report, as filed.⁵

Period ending	2026-03-31	2025-03-31	2024-03-31
Revenues	$299.2M	$222.8M	$145.6M
Cost of revenues	$207.8M	$161.0M	$110.4M
Gross profit	$91.4M	$61.9M	$35.3M
Research and development	$15.7M	$11.4M	$8.0M
Selling, general and administrative	$57.6M	$43.1M	$31.6M
Amortization of acquisition related intangibles	$2.4M	$1.7M	$2.2M
Change in fair value	$4.2M	$6.7M	$4.9M
Restructuring	$0	$0	-$14.0K
Total operating expenses	$79.9M	$62.9M	$46.7M
Operating income (loss)	$11.4M	-$1.1M	-$11.4M
Interest income, net	$6.4M	$3.7M	$1.3M
Other expense, net	-$1.1M	-$265.0K	-$736.0K
Income (loss) before income tax (benefit) expense	$16.7M	$2.4M	-$10.8M
Income tax (benefit) expense	-$117.1M	-$3.7M	$309.0K
Net income (loss)	$133.8M	$6.0M	-$11.1M
Basic (in dollars per share)	$3.12	$0.16	-$0.37
Diluted (in dollars per share)	$3.05	$0.16	-$0.37
Basic (in shares)	42.9M shares	37.0M shares	29.8M shares
Diluted (in shares)	43.9M shares	37.7M shares	29.8M shares

Total assets⁸⁹¹⁰¹¹¹²¹⁶⁵$739.5M in 2026+520% since 2019

Total liabilities⁸⁹¹⁰¹¹¹²¹⁶⁵$184.0M in 2026+383% since 2019

Shareholders’ equity⁹¹⁰¹¹¹²⁵$555.4M in 2026+584% since 2019

Cash⁸⁹¹⁰¹¹¹²¹⁶⁵$140.7M in 2026+82% since 2019

Long-term debt¹⁰¹¹¹²$0 in 2024

Every line of the balance sheet in the latest annual report, as filed.⁵

Period ending	2026-03-31	2025-11-30	2025-03-31
Cash and cash equivalents	$140.7M		$79.5M
Accounts receivable, net	$69.4M		$46.2M
Inventory, net	$103.7M		$71.2M
Prepaid expenses and other current assets	$14.4M		$8.1M
Restricted cash	$3.5M		$1.6M
Total current assets	$331.7M		$206.5M
Property, plant and equipment, net	$89.8M		$38.6M
Intangibles, net	$13.5M		$5.9M
Right-of-use assets	$3.9M		$3.8M
Goodwill	$175.4M		$48.2M
Restricted cash	$3.3M		$4.3M
Deferred tax assets	$119.5M		$1.2M
Equity-method investments	$1.3M		$1.1M
Other assets	$1.0M		$958.0K
Total assets	$739.5M		$310.5M
Accounts payable and accrued expenses	$46.5M		$32.3M
Lease liability, current portion	$1.2M		$685.0K
Contingent consideration, current portion	$12.8M		$0
Deferred revenue, current portion	$77.9M		$66.8M
Total current liabilities	$138.5M		$99.8M
Deferred revenue, long term portion	$15.4M		$9.3M
Lease liability, long term portion	$2.8M		$2.7M
Deferred tax liabilities	$0		$1.6M
Contingent consideration, long term portion	$26.7M		$0
Other liabilities	$629.0K		$28.0K
Total liabilities	$184.0M		$113.4M
Common stock, $0.01 par value, 75,000,000 shares authorized; 48,035,691 and 39,887,536 shares issued and 47,632,340 and 39,484,185 shares outstanding at March 31, 2026 and 2025, respectively	$480.0K		$399.0K
Additional paid-in capital	$1.5B		$1.3B
Treasury stock, at cost, 403,351 at March 31, 2026 and 2025	-$3.8M		-$3.8M
Accumulated other comprehensive income	$4.1M		$1.6M
Accumulated deficit	-$926.8M		-$1.1B
Total stockholders' equity	$555.4M		$197.1M
Total liabilities and stockholders' equity	$739.5M		$310.5M
Common stock, par value (in dollars per share)	$0.01	$0.01	$0.01
Common stock, shares authorized (in shares)	75.0M shares		75.0M shares
Common stock, shares issued (in shares)	48.0M shares		39.9M shares
Common stock, shares outstanding (in shares)	47.6M shares		39.5M shares
Treasury stock, common shares (in shares)	403.4K shares		403.4K shares

Cash from operations⁸¹⁰¹¹¹²⁵$23.1M in 2026−46% since 2019

Capital spending⁸¹⁰¹¹¹²⁵$4.9M in 2026+413% since 2019

Free cash flow⁸¹⁰¹¹¹²⁵$18.3M in 2026−56% since 2019

Share buybacks⁵$0 in 2026

Every line of the cash flow in the latest annual report, as filed.⁵

Period ending	2026-03-31	2025-03-31	2024-03-31
Net income (loss)	$133.8M	$6.0M	-$11.1M
Depreciation and amortization	$7.4M	$5.6M	$4.5M
Stock-based compensation expense	$15.9M	$7.8M	$4.7M
Provision for excess and obsolete inventory	$3.5M	$1.5M	$2.0M
Amortization of operating lease right-of-use assets	$1.1M	$976.0K	$321.0K
Deferred income taxes	-$118.7M	-$4.3M	$65.0K
Earnings (loss) from equity method investments	-$220.0K	$132.0K	$0
Change in fair value	$4.2M	$6.7M	$4.9M
Other non-cash items	$316.0K	-$587.0K	$44.0K
Unrealized foreign exchange gain on cash and cash equivalents	-$2.0K	-$41.0K	-$2.0K
Accounts receivable	-$16.3M	-$3.2M	$4.3M
Inventory	-$7.0M	-$7.7M	-$6.8M
Prepaid expenses and other current assets	-$598.0K	$543.0K	$6.0M
Operating leases	-$503.0K	-$1.6M	-$327.0K
Accounts payable and accrued expenses	$7.1M	$3.2M	-$13.5M
Deferred revenue	-$6.9M	$13.2M	$7.1M
Net cash provided by operating activities	$23.1M	$28.3M	$2.1M
Purchases of property, plant and equipment	-$4.9M	-$2.4M	-$934.0K
Cash paid for acquisition, net of cash acquired	-$72.1M	-$29.6M	$0
Change in other assets	-$98.0K	$64.0K	-$27.0K
Net cash used in investing activities	-$77.1M	-$35.2M	-$961.0K
Repurchase of treasury stock	$0	-$126.0K	$0
Repayment of debt	-$8.8M	-$25.0K	-$65.0K
Cash paid related to registration of common stock shares	$0	-$148.0K	$0
Proceeds from public equity offering, net of offering expenses	$124.5M	$0	$65.2M
Proceeds from exercise of employee stock options and ESPP	$391.0K	$307.0K	$279.0K
Net cash provided by financing activities	$116.1M	$8.0K	$65.4M
Effect of exchange rate changes on cash, cash equivalents and restricted cash	$24.0K	$14.0K	-$13.0K
Net (decrease) increase in cash, cash equivalents and restricted cash	$62.2M	-$6.9M	$66.6M
Cash paid for income taxes, net of refunds	$706.0K	$312.0K	$286.0K
Right-of-use assets obtained in exchange for new lease obligations	$1.1M	$2.2M	$680.0K

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The story

History

American Superconductor was founded on April 9, 1987, by MIT professor and material scientist Gregory J. Yurek, in his kitchen. The founding team included Yet-Ming Chiang, David A. Rudman and John B. Vander Sande. The company completed its initial public offering in 1991. Over the next twenty years, the company made several acquisitions, including that of the Austrian wind power company WindTec.

2009 government stimulus

In 2009, the Department of Energy announced that they would provide $4.8M to AMSC for further development of superconducting electrical cables.

From Wikipedia’s article on American Superconductor, shared under CC BY-SA 4.0.⁷

Subsidiaries and ownership

Subsidiaries

American Superconductor (Austria)

From Wikidata.¹

Controversies and legal

Sinovel controversy

In early 2011, a Serbian employee of American Superconductor sold the company's proprietary wind turbine control software to the company's largest customer, China based Sinovel. Sinovel promptly ended its payments to American Superconductor, causing the company to lose 84% of its market cap. The employee was bribed for only $20,500, and later pleaded guilty to bribery charges.