NET Q1 2026 Earnings — Income Statement Breakdown
For its Q1 2026 period (ending 2026-03-31), NET reported revenue of $640M, gross profit of $456M (71.2% gross margin), operating income of −$62M, and net income of −$23M (-3.6% net margin). The flow of revenue into costs and profit is visualized below.
What changed
NET reported a net loss; revenue grew 4.1% quarter over quarter.
| Comparison | Revenue | Net income | Net margin |
|---|---|---|---|
| Year over year | Not available | Not available | Not available |
| Quarter over quarter | +4.1% | −89.8% | −1.6 pp |
Consensus estimate data is not available for this report.
NET Q1 2026 Income Statement
| Line item | Amount (USD) | % of revenue |
|---|---|---|
| Revenue | $640M | 100% |
| Cost of Revenue | −$184M | 28.8% |
| Gross Profit | $456M | 71.2% |
| Research & Development | −$151M | 23.6% |
| Selling, General & Administrative | −$367M | 57.3% |
| Operating Income | −$62M | -9.7% |
| Interest Expense | −$3M | 0.4% |
| Other Income, net | $43M | 6.7% |
| Income Tax Expense | −$2M | 0.2% |
| Net Income | −$23M | -3.6% |
Source: original SEC filing (filed 2026-05-07). Accession 0001477333-26-000033. Data normalized by EarningsFyi.