Frequency Electronics Reports Record Q1 Revenue of $23.5 Million, Up 70% Year-on-Year
Frequency Electronics (NASDAQ:FEIM) reported a record fiscal first-quarter revenue of $23.5 million for the quarter ended July 31, 2026, marking a significant increase of 70% year on year and 52% sequentially. The company also exceeded adjusted earnings per share expectations at $0.41 compared to an analyst estimate of $0.29. The firm reported a funded backlog of $129 million, up 82% from the previous year and 16% sequentially, driven by demand in satellite communications, U.S. government contracts, and defense programs. Management expressed increased confidence in achieving or surpassing annual revenue of $150 million by fiscal 2029. Following these results, Frequency Electronics' shares surged 30.5% premarket trading on September 10, approaching their 52-week high. The company also noted it has no debt after a capital raise in July.
Tickers: $FEIM
Topics: adjusted_earnings_per_share backlog revenue stock_movement