MEI narrows loss to $35.7M as gross margin expands 420bp on customer recoveries

Filed June 24, 2026 · Period ending May 2, 2026 · Compared to 10-K Jul 9, 2025 · ~1 min read

Key Changes

• high

  Gross margin improved to 19.8% from 15.6% (+420 bp) driven by $22.5M in Automotive customer recoveries negotiated to offset tariff and program cancellation costs, plus operational efficiencies.

  MD&A: Gross Profit verify on EDGAR →
• high

  Net loss narrowed to $35.7M from $62.6M as margin gains offset lower sales; Industrial segment now 51.4% of revenue (up from 46.5%), overtaking Automotive as largest segment.

  MD&A: Results Overview verify on EDGAR →
• high

  Top-five customer concentration rose to 41% from 36%, with one customer now exceeding 10% of sales (10.9%), increasing revenue dependence on fewer accounts.

  Business: Customer Concentration verify on EDGAR →