Accelevation Holdings Corp. Reports Strong Third Quarter 2026 with Revenue Growth of 66%, Bookings Growth of over 350%, and Robust Cash Generation
Key Highlights
- ➤Revenue $202.2 million, up 65.9% year over year
- ➤Bookings $768.9 million, up 364% year over year
- ➤Backlog $1.7 billion, up 329% year over year
- ➤Operating cash flow $62.5 million versus $0.6 million outflow
- ➤Fiscal 2026 revenue guidance $905-$915 million, up 102%-104% year over year
Expert Statements
Michael Rubiera, Co-Founder and Chief Executive Officer of Accelevation
“At Accelevation, we design, manufacture, and install mission-critical infrastructure for customers who rely on our speed and certainty of delivery, and our third quarter results reflect the strength of our operating model and underlying markets. We are pleased with our first reported quarter as a public company. Our end markets are accelerating, demand for our products is robust, and our ability to deliver customized solutions at scale for our customers is driving strong market share gains and growth in our business. Our backlog, order pace, and focus on productivity position us well to deliver strong results in the fourth quarter and beyond.”
Michael Rubiera, Co-Founder and Chief Executive Officer of Accelevation
“Our performance in the third quarter demonstrated the benefits of several strategic decisions we made previously to position Accelevation for where the industry is headed. Our market is accelerating and we are seeing a shift toward modular, factory-built infrastructure. Based upon the strong demand from our customers, we continue to make investments in scaling our modular capabilities while also broadening our power product offering. We are expanding our addressable market through product innovation, diversifying our customer base, and growing our business with existing blue-chip customers to drive sustained, profitable growth.”
Ken Krause, Chief Financial Officer of Accelevation
“We delivered strong growth, profitability, and cash generation in the quarter. Revenue increased more than 60%, bookings grew more than 350%, backlog rose to approximately $1.7 billion, and Adjusted EBITDA margins approached 19% following a weaker first half. Strong demand for our solutions continues to drive significant growth, while our focus on execution translated into improved margins. Operating cash flow increased significantly to over $62 million, representing cash conversion well in excess of 100% of net income for the quarter.”
Ken Krause, Chief Financial Officer of Accelevation
“Following quarter end, we used the primary proceeds from our IPO to reduce debt and closed $650 million in new credit facilities with improved pricing while significantly decreasing our pro forma net leverage following the IPO. We believe our balance sheet is well positioned, with our new credit facilities providing ample capacity. Our reduced leverage post-IPO and enhanced financial flexibility allow us to continue investing in the business to support strong and growing demand across our end markets.”
Ken Krause, Chief Financial Officer of Accelevation
“As we introduce full-year 2026 guidance today we are well positioned to continue delivering robust growth, an improving margin profile, and strong cash flow as we start the fourth quarter and look further out into 2027.”
Third Quarter 2026 Business Highlights * Revenue grew 65.9% year over year to $202.2 million. * Bookings of $768.9 million, an increase of 364% year over year. * Backlog of $1.7 billion, an increase of 329% and 51.0% over prior year and prior quarter, respectively. * Book-to-bill ratio of 3.8x. * Net income was $3.2 million, a decline of $10.5 million; net income margin was 1.6%. * Adjusted net income* was $20.9 million, a decline of 7.0%. * Adjusted EBITDA* increased by $8.9 million to $37.7 million; Adjusted EBITDA margin* was 18.7%. * Operating cash flow increased to $62.5 million from an outflow of $0.6 million in the prior year. * Subsequent to quarter end, the Company entered into a new $650 million senior secured credit agreement with significant pricing improvement. Full Year 2026 Guidance** * Revenue in the range of $905-$915 million, representing 103% year-over-year growth at the midpoint. * Adjusted EBITDA** of $155-$165 million, representing 76% year-over-year growth at the midpoint. *Amounts are non-GAAP financial measures. See the schedules below for a discussion of non-GAAP financial metrics including a reconciliation to the most directly comparable GAAP measure. **The Company has not provided a reconciliation of Adjusted EBITDA guidance to net income, the most directly comparable GAAP measure, because certain items that are excluded from the non-GAAP financial measure, such as depreciation expense and other expenses, cannot be reasonably predicted or estimated at this time without unreasonable effort. Such items could have a material impact on reported results.
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