OSI Systems (OSIS) Q4 2026: Record Earnings and Cash Flow — Positive Outlook Ahead

OSI Systems, Inc. (NASDAQ: OSIS) reported its financial results for the fourth quarter and fiscal year ended June 30, 2026, showcasing a strong performance that exceeded prior year metrics. The company achieved record revenues of $1.79 billion for the fiscal year, marking a growth of $70 million or +4% compared to the previous year.

Key Financial Metrics

• Q4 2026 Earnings per Share (EPS):
  • GAAP EPS: $3.27
  • Non-GAAP EPS: $3.78 (up 17% YoY)
• Fiscal Year 2026 Earnings per Share:
  • GAAP EPS: $8.95
  • Non-GAAP EPS: $10.35 (up 11% YoY)
• Operating Cash Flow:
  • Q4: $182 million
  • Fiscal Year 2026: $276 million
• Backlog: $1.9 billion (up from $1.8 billion a year ago)

Analyst View

This quarter is a positive outcome for shareholders, driven by record non-GAAP earnings and operating cash flow despite external challenges. The 17% growth in non-GAAP EPS year-over-year reflects the company's ability to navigate market headwinds, particularly disruptions caused by conflicts in the Middle East. The substantial backlog of $1.9 billion indicates strong demand and positions OSI Systems well for future growth.

Shareholder Returns and Guidance

During the fourth quarter, OSI Systems repurchased 564,880 shares for a total of $123.6 million, demonstrating a commitment to returning capital to shareholders. The company ended the fiscal year with $359.8 million in cash and cash equivalents, significantly up from $106.4 million the previous year.

Looking ahead, OSI Systems has provided guidance for fiscal year 2027:

• Revenues: Expected to be between $1.875 billion and $1.930 billion (YoY growth of 5.0% - 8.1%)
• Non-GAAP Diluted EPS: Projected between $11.13 and $11.49 (YoY growth of 7.5% - 11.0%)

Forward Catalysts

Investors should keep an eye on the company's execution of its strategic initiatives and the realization of its substantial backlog. The upcoming fiscal year will be crucial as OSI Systems aims to leverage its opportunity pipeline and disciplined operational execution to drive long-term value. Additionally, the performance of the Security, Optoelectronics, and Healthcare divisions will be key areas to monitor, especially in light of the operational improvements and demand across various sectors.

In summary, OSI Systems has delivered a commendable quarter and fiscal year, setting a positive tone for the future. The combination of record earnings, robust cash flow, and a strong backlog positions the company favorably as it enters fiscal 2027.

Note: The following tables contain amounts in thousands.

UNAUDITED CONDENSED Consolidated Statements of Operations	(in thousands, except per share data)
Three Months Ended June 30, 2025	Three Months Ended June 30, 2026
Fiscal Year Ended June 30, 2025	Fiscal Year Ended June 30, 2026

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS	(in thousands)
June 30, 2025	June 30, 2026

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