Solventum

SOLV · Health Care · Market cap $15.0B

Q1 FY26 Jan 1 – Mar 31, 2026 reported May 5, 2026

Revenue$2.01B −3% year over year

Gross profit$1.10B

Operating profit$0.08B

Net profit$0.01B 1% margin

Numbers and detail

All figures in billions of U.S. dollars, for Q1 FY26 (period ends Mar 31, 2026).
Item	Value	Share of revenue	Year over year
Revenue	2.01	100%	−3%
Product	1.51	75%	−5%
Cost of Software and Rentals	0.49	25%	+4%
Cost of revenue	−0.91	45%
Gross profit	1.10	55% margin	+1pp
Research & development	−0.19	9%	+0pp
SG&A	−0.83	41%	+4pp
Operating profit	0.08	4% margin	−3pp
Interest & other costs	−0.07
Net profit	0.01	1%	−6pp

All figures in billions of U.S. dollars, for Q4 FY25 (period ends Dec 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.00	100%	−4%
Product	1.49	75%	−6%
Cost of Software and Rentals	0.51	25%	+3%
Cost of revenue	−0.97	49%
Gross profit	1.03	51% margin	−3pp
Research & development	−0.17	9%	−1pp
SG&A	−0.73	38%	+0pp
Operating profit	0.13	6% margin	+0pp
Interest & other costs	−0.06
Net profit	0.06	3%	+2pp

All figures in billions of U.S. dollars, for Q2 FY25 (period ends Jun 30, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.16	100%	+4%
Product	1.67	77%	+4%
Cost of Software and Rentals	0.49	23%	+4%
Cost of revenue	−0.99	46%
Gross profit	1.18	54% margin	+0pp
Research & development	−0.19	9%	+0pp
SG&A	−0.77	36%	+2pp
Operating profit	0.21	10% margin	−2pp
Tax	−0.01
Interest & other costs	−0.11
Net profit	0.09	4%	+0pp

All figures in billions of U.S. dollars, for Q1 FY25 (period ends Mar 31, 2025).
Item	Value	Share of revenue	Year over year
Revenue	2.07	100%	+3%
Product	1.60	77%	+3%
Cost of Software and Rentals	0.47	23%	+2%
Cost of revenue	−0.96	46%
Gross profit	1.11	54% margin	−4pp
Research & development	−0.19	9%	+0pp
SG&A	−0.77	37%	+8pp
Operating profit	0.15	7% margin	−12pp
Interest & other costs	−0.11
Net profit	0.14	7%	−5pp

Quarter by quarter

Pick a quarter and the diagram above changes. Bars compare revenue across the quarters we hold.

Quarter	Period	Reported	Revenue	Year over year	Operating margin	Net profit	Net margin
Q1 FY26	Jan 1 – Mar 31, 2026	May 5, 2026	$2.0B	−3%	4%	$0.01B	1%
Q4 FY25	Oct 1 – Dec 31, 2025	Feb 27, 2026	$2.0B	−4%	6%	$0.06B	3%
Q2 FY25	Apr 1 – Jun 30, 2025	Aug 8, 2025	$2.2B	+4%	10%	$0.09B	4%
Q1 FY25	Jan 1 – Mar 31, 2025	May 9, 2025	$2.1B	+3%	7%	$0.14B	7%