$CEPL

CAPSTONE TURBINE Corp

CIK:0001009759|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Revenue, net:
Revenue, net	$ 24,923	$ 27,871
Cost of goods sold:
Cost of goods sold	16,163	20,307
Gross profit	8,760	7,564
Operating expenses:
Research and development	1,221	814
Selling, general and administrative	6,572	6,921
Total operating expenses	7,793	7,735
Income (loss) from operations	967	(171)
Other income (expense), net	(227)	436
Interest income	159	53
Interest expense	(857)	(1,011)
Income (loss) before provision for income taxes	42	(693)
Provision for income taxes	5	5
Net income (loss)	$ 37	$ (698)
Net loss per share of common stock and non-voting common stock - basic (in dollars per share)	$ (0.03)	$ (0.04)
Net loss per share of common stock and non-voting common stock - diluted (in dollars per share)	$ (0.03)	$ (0.04)
Weighted average shares used to calculate basic net loss per share of common stock and non-voting common stock (in shares)	34,335	19,366
Weighted average shares used to calculate diluted net loss per share of common stock and non-voting common stock (in shares)	34,335	19,366
Product and Accessories
Revenue, net:
Revenue, net	$ 12,964	$ 15,720
Cost of goods sold:
Cost of goods sold	8,997	14,518
Parts and Services
Revenue, net:
Revenue, net	9,722	7,938
Cost of goods sold:
Cost of goods sold	5,732	3,759
Rentals
Revenue, net:
Revenue, net	2,237	4,213
Cost of goods sold:
Cost of goods sold	$ 1,434	$ 2,030

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash Flows from Operating Activities:
Net income (loss)	$ 37	$ (698)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	1,168	926
Amortization of financing costs and discounts	17	23
Paid-in-kind interest expense		493
Interest related to deferred acquisition costs	87
Non-cash lease expense	526	821
Non-cash cost of assets sold	3,500
Provision for credit losses	80	227
Inventory write-down		166
Provision for warranty expenses	76	70
Gain on termination of lease	(50)
Stock-based compensation	365	349
Changes in operating assets and liabilities:
Accounts receivable	10	(4,170)
Inventories	(5,020)	253
Lease receivable	29	25
Prepaid expenses, other current assets and other assets	11	274
Accounts payable	1,740	2,356
Accrued expenses	(572)	124
Operating lease liability, net	(288)	(847)
Accrued salaries and wages and long-term liabilities	632	617
Accrued warranty reserve	(57)	(6)
Deferred revenue	(804)	(3,222)
Deposits	3,716
Factory protection plan liability	206	623
Net cash provided by (used in) operating activities	5,409	(1,596)
Cash Flows from Investing Activities:
Payment of deferred acquisition costs	(500)
Expenditures for property, plant, equipment and rental assets	(894)	(126)
Net cash used in investing activities	(1,394)	(126)
Cash Flows from Financing Activities:
Acquisition of treasury stock	(173)	(134)
Repayment of finance lease obligations	(439)	(187)
Net cash used in financing activities	(612)	(321)
Net increase in cash and restricted cash	3,403	(2,043)
Cash and restricted cash, Beginning of Period	28,894	8,671
Cash and restricted cash, End of Period	32,297	6,628
Supplemental Disclosures of Cash Flow Information - Cash paid during the period for:
Interest	862	479
Supplemental Disclosures of Cash Flow Information - Cash paid during the period for:
Income taxes	$ 63	14
Supplemental Disclosures of Non-Cash Information:
Right-of-use assets obtained in exchange for operating lease obligations		1,419
Right-of-use assets obtained in exchange for finance lease obligations		396
Acquisition of treasury stock with accrued liabilities		46
Settlement of lease liabilities through accounts receivable		210
Operating lease modified to finance lease		614
Accounts payable negotiated in lease modification		$ 1,289

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Current Assets:
Cash	$ 31,582	$ 28,179
Restricted cash	715	715
Accounts receivable, net of allowances of $1,417 at June 30, 2026 and $1,337 at March 31, 2026	12,821	12,911
Inventories	26,962	22,106
Prepaid expenses and other current assets	4,002	3,924
Total current assets	76,082	67,835
Property, plant, equipment and rental assets, net	12,865	16,185
Intangible assets, net	5,272	5,546
Finance lease right-of-use assets	4,609	4,789
Operating lease right-of-use assets	8,695	9,859
Non-current portion of inventories	2,900	2,736
Other assets	4,380	4,500
Total assets	114,803	111,450
Current Liabilities:
Accounts payable	19,347	17,614
Accrued expenses	7,087	7,029
Accrued warranty reserve	990	971
Deferred revenue, current	13,049	10,040
Deferred acquisition costs, current	1,776	1,726
Finance lease liability, current	1,289	1,520
Operating lease liability, current	2,083	1,862
Factory protection plan liability	4,904	4,698
Exit notes, net of discount, current	25,337	25,320
Total current liabilities	75,862	70,780
Deferred revenue, non-current	551	648
Deferred acquisition costs, non-current	967	1,430
Finance lease liability, non-current	784	991
Operating lease liability, non-current	6,936	8,132
Total liabilities	85,100	81,981
Commitments and contingencies (Note 12)
Temporary equity:
Redeemable preferred stock, $0.001 par value; 1,000,000 shares authorized, 80,000 shares issued and outstanding at June 30, 2026 and March 31, 2026, respectively (Note 13)	74,922	73,936
Total temporary equity	74,922	73,936
Stockholders' deficit:
Additional paid-in capital	929,613	930,234
Accumulated deficit	(974,138)	(974,175)
Treasury stock, at cost; 298,824 shares at June 30, 2026 and 269,603 shares at March 31, 2026	(730)	(557)
Total stockholders' deficit	(45,219)	(44,467)
Total liabilities, temporary equity and stockholders' deficit	114,803	111,450
Redeemable Convertible Preferred Stock
Temporary equity:
Total temporary equity	74,922	73,936
Common Stock
Stockholders' deficit:
Common stock	35	30
Non-Voting Common Stock
Stockholders' deficit:
Common stock	$ 1	$ 1