Lyntris Inc. reported revenue of $194.4 million for the third quarter 2026, a 90% increase year-over-year that significantly outperformed analyst expectations. While the company recorded a GAAP net loss of $3 million ($0.03 per share), it achieved a significant adjusted EPS beat of $0.15 and generated $79 million in free cash flow, marking a sharp turnaround from the prior year's cash outflow.
Key Highlights
- Air & Missile Defense revenue surged 154% to $83.4 million, driven by flagship radar programs accelerating into production.
- Total backlog reached a record $1.013 billion at quarter-end, representing 113% year-to-date growth fueled by defense connectivity wins.
- Debt repayment following the $298 million IPO improved the net leverage ratio to 1.2x, down from 4.2x at the end of 2025.
- Full-year 2026 revenue guidance was established at $623 million to $630 million, suggesting continued momentum in the fourth quarter.