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Waters Corporation by the numbers
Waters Corporation (WAT) reported revenue of $1.65B in Q2 2026 (quarter ended Jul 4, 2026), up 113% from the same quarter a year earlier. That came with net loss of $136M. For the full year FY2025, revenue was $3.17B (+7.0% year on year) and net income $643M. Its largest product in Q2 2026 was Consumables at $765M, 47% of the disclosed total, ahead of Instrument Systems at 28%.
| Income statement | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $1.65B | $771M | +113% |
| Gross profit | n/a | $450M | n/a |
| Operating income | −$86M | $188M | to a loss |
| Net income | −$136M | $147M | to a loss |
| Diluted EPS | −$1.39 | $2.47 | to a loss |
| Product | Revenue | Share |
|---|---|---|
| Consumables | $765M | 47% |
| Instrument Systems | $455M | 28% |
| Service | $425M | 26% |
Business Segments
Revenue split by product segment, from SEC XBRL filings.
Latest period: Q2 2026Total $1.65B (+30%)
Consumables grew +364% year on yearService +43% year on year
Segment Latestquarter on quarteryear on year
- Consumables$765.0M$765.0MQoQ +41%year on year +364%+41%+364%
- Instrument Systems$455.0M$455.0MQoQ +21%year on year +48%+21%+48%
- Service$425.0M$425.0MQoQ +22%year on year +43%+22%+43%
Diagnostics & Research
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