10-K · August 21, 2026
OSI delivered another year of revenue and earnings growth, with fiscal 2026 revenue up 4.2% to $1.786 billion, diluted EPS up to $8.95, and operating cash flow rising to $275.9 million. The Security division remains the…
Earnings analysis · 10-Q
OSIS earnings analysis
Filed October 29, 2026 · Our reading of the company's report
The latest report
OSI Systems reported $403.472 million of revenue, beating consensus by $7.120 million, and non-GAAP EPS of $1.66 versus the $1.65 estimate; GAAP EPS was $1.51. Management reaffirmed fiscal 2027 revenue guidance of…
Read full summary
OSI Systems reported $403.472 million of revenue, beating consensus by $7.120 million, and non-GAAP EPS of $1.66 versus the $1.65 estimate; GAAP EPS was $1.51. Management reaffirmed fiscal 2027 revenue guidance of $1.875 billion-$1.930 billion and raised non-GAAP EPS guidance to $11.28-$11.64. Record backlog of $2.1 billion and operating cash flow of $37.088 million support the outlook, although Healthcare generated only $35.128 million of revenue and a $2.388 million operating loss.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $1.51
- Segment
- Healthcare revenue was $35.128 million and generated a $2.388 million operating loss; revenue and operating results for the other segments were not provided in the extracted filing text.
What stood out
-
Revenue and adjusted EPS beat estimates
Revenue was $403.472 million, $7.120 million above the $396.352 million consensus estimate, while non-GAAP EPS of $1.66 exceeded the $1.65 estimate. GAAP EPS was $1.51.
-
Full-year EPS outlook raised
Management reaffirmed fiscal 2027 revenue guidance of $1.875 billion-$1.930 billion and raised non-GAAP EPS guidance to $11.28-$11.64 from $11.13-$11.49.
-
Record backlog supports visibility
Backlog reached a record $2.1 billion, supporting management’s fiscal 2027 outlook and indicating solid demand visibility.
-
Operating cash flow improved
Operating cash flow was $37.088 million, more than double the prior-year comparable amount cited in the earnings release materials.
What to watch
-
Healthcare remained unprofitable
Healthcare revenue declined to $35.128 million and the segment posted a $2.388 million operating loss, creating a drag on consolidated profitability.
-
Backlog conversion and mix risk
The company has $2.1 billion of backlog, but conversion timing, contract execution and mix could affect reported margins and cash generation; quarterly free cash flow was not disclosed in the extracted filing text.
-
Debt and geopolitical exposure
The 10-Q states that there were no material changes to the risk factors in the June 30, 2026 Form 10-K; however, the earnings materials identify debt and geopolitical exposure as ongoing risks without quantifying the related exposure.
Management's outlook
Fiscal 2027 revenue guidance was reaffirmed at $1.875 billion-$1.930 billion, while non-GAAP EPS guidance was raised from $11.13-$11.49 to $11.28-$11.64. The filing materials provided no additional quarterly quantitative outlook.
Earlier filings 4
10-Q · May 4, 2026
OSI Systems, Inc. reported a solid performance for Q3 2026, with revenues rising to $453.2 million, up 2.0% from $444.3 million in Q3 2025. Gross margins slightly declined to 33.2%, and diluted EPS improved to $2.60,…
10-K · August 25, 2025
OSI Systems describes itself as a vertically integrated designer and manufacturer serving security, healthcare and defense/aerospace end markets through three operating divisions. The company’s stated strategy…
10-Q · January 24, 2025
OSI Systems, Inc. reported a strong quarter with revenue rising to $419.8 million, up 12.4% from $373.2 million in the previous year's quarter. The diluted EPS increased to $2.22 from $2.11 year-over-year, reflecting a…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.