MiniMed Group Swings to $119M Net Loss in Q3 FY2026 as Operating Income Turns Negative
MiniMed Group, Inc. posted a net loss of $119 million for the quarter ending January 23, 2026, a sharp reversal from a $10 million loss in the year-ago period. The company swung to a $100 million operating loss as expenses outpaced revenue growth.
MiniMed Group, Inc., a Delaware-incorporated company, reported a net loss of $119 million for the three months ending January 23, 2026, compared to a net loss of $10 million in the same quarter a year earlier. The company swung to an operating loss of $100 million from operating income of $21 million in the prior-year quarter. Read more earnings reports.
Revenue for the quarter reached $790 million, up 15% from $687 million in the year-ago period. For the nine months ending January 23, 2026, revenue totaled $2.27 billion, an increase of 14% from $1.99 billion in the comparable period of fiscal 2025.
Gross profit for the quarter declined to $362 million from $395 million a year earlier, despite the revenue increase. Cost of goods sold jumped 47% to $428 million from $292 million, compressing margins.
Selling, general and administrative expenses climbed to $309 million in the quarter from $268 million in the prior-year period. For the nine-month period, SG&A expenses reached $884 million, up from $804 million a year earlier.
The company reported a net loss of $148 million for the nine months ending January 23, 2026, compared to a net loss of $41 million in the year-ago period. Diluted loss per share was $0.47 for the quarter, versus $0.04 a year earlier. For the nine-month period, diluted loss per share was $0.59, compared to $0.16 in the prior year.
Cash from operations turned negative at $27 million for the nine months ending January 23, 2026, compared to positive cash flow of $57 million in the year-ago period. Cash from investing activities consumed $177 million, while financing activities generated $204 million.
Total assets stood at $4.34 billion as of January 23, 2026, up from $4.20 billion at the end of fiscal 2025. Cash and cash equivalents declined to $10 million from $11 million. Accounts receivable increased to $653 million from $570 million, while inventory rose to $408 million from $311 million.
The company carried no long-term debt as of January 23, 2026. Total stockholders' equity was $3.46 billion, up from $3.33 billion at the end of the prior fiscal year. Accounts payable increased to $303 million from $205 million.
Financial Summary
| Metric | Q3 FY2026 | Q3 FY2025 | Change |
|---|---|---|---|
| Revenue | $790 million | $687 million | +15% |
| Gross Profit | $362 million | $395 million | -8% |
| Operating Income (Loss) | ($100 million) | $21 million | n/m |
| Net Income (Loss) | ($119 million) | ($10 million) | n/m |
| EPS (Diluted) | ($0.47) | ($0.04) | n/m |
Nine-Month Performance
| Metric | 9M FY2026 | 9M FY2025 | Change |
|---|---|---|---|
| Revenue | $2.27 billion | $1.99 billion | +14% |
| Gross Profit | $1.20 billion | $1.12 billion | +7% |
| Operating Income (Loss) | ($97 million) | $2 million | n/m |
| Net Income (Loss) | ($148 million) | ($41 million) | n/m |
| Cash from Operations | ($27 million) | $57 million | n/m |