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- Tax Receivable Agreement Liability of $338.9 Million (new) — The company recorded a significant payable under the TRA, which will require substantial future cash payments if taxable income is sufficient.
- Data Center Revenue Concentration At 59% (new) — A majority of revenue comes from data center products, exposing the company to sector-specific downturns.
- Neos Holds 37.2% Voting Power (new) — A single investor retains significant influence and consent rights, which could lead to conflicts of interest.
Forgent Power's first 10-K shows 89% revenue growth to $1.4 billion and net income of $81.8M
Filed September 15, 2026 · Period ending June 30, 2026 · ~1 min read
Key Changes
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Revenue grew 89% to $1.4 billion in fiscal 2026, with backlog up 256% to $3.0 billion, driven by data center and grid demand.
MD&A: Revenue growth verify on EDGAR → -
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Net income jumped, but gross margin was pressured by under-absorbed costs from new manufacturing campuses.
MD&A: Profitability verify on EDGAR → -
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A $338.9 million Tax Receivable Agreement liability was recognized, requiring future payments of 85% of certain tax benefits to pre-IPO owners.
MD&A: Tax receivable agreement verify on EDGAR →
2 more material changes behind this preview — plus the full narrative summary, section-by-section diffs against the prior filing, and verbatim quotes with EDGAR citations.
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Figures/quotes linked to EDGAR · Narrative written by AI · Sep 15, 2026 · How we verify