Titan Machinery Inc. filed its quarterly report on Form 10-Q with the SEC for the period ended July 31, 2026, covering the second quarter of its fiscal year.

Key Highlights

  • Total revenue: $496,384 thousand for the three months ended July 31, 2026, down from $546,426 thousand in the same period of the prior year.
  • Net loss: $9,150 thousand for the three months ended July 31, 2026, compared to a net loss of $6,000 thousand for the three months ended July 31, 2025.
  • Six-month net loss: $21,766 thousand for the six months ended July 31, 2026, versus $19,204 thousand for the six months ended July 31, 2025.
  • Total assets: $1,628,548 thousand as of July 31, 2026, compared to $1,616,928 thousand as of January 31, 2026.
  • Total stockholders' equity: $557,820 thousand at July 31, 2026, down from $579,298 thousand at January 31, 2026.
  • Shares outstanding: 23,532,897 shares of common stock as of August 31, 2026, according to the filing.

Titan Machinery's Revenue, Losses, and Balance Sheet for the Quarter Ended July 31, 2026

Titan Machinery Inc. (NASDAQ:TITN), a Delaware-incorporated equipment dealer headquartered in West Fargo, North Dakota, reported total revenue of $496,384 thousand for the three months ended July 31, 2026, according to the condensed consolidated statements of operations included in the filing. This compares to total revenue of $546,426 thousand in the same quarter of the prior fiscal year. Equipment revenue, the largest segment, declined to $328,499 thousand from $376,262 thousand in the prior-year quarter. Parts revenue was $106,612 thousand versus $109,222 thousand, and service revenue was $46,442 thousand versus $48,800 thousand. Rental and other revenue increased to $14,831 thousand from $12,142 thousand.

The company reported a loss from operations of $2,271 thousand for the three months ended July 31, 2026, compared to income from operations of $662 thousand in the same period of the prior year. Operating expenses were $94,076 thousand in the current quarter versus $92,661 thousand a year earlier. After accounting for floorplan interest expense of $3,664 thousand and other interest expense of $4,392 thousand, the filing reports a loss before income taxes of $9,156 thousand for the quarter. The resulting net loss was $9,150 thousand, or $(0.40) per basic and diluted share, compared to a net loss of $6,000 thousand, or $(0.26) per basic and diluted share, for the three months ended July 31, 2025.

On the balance sheet as of July 31, 2026, the filing reports inventories of $931,502 thousand and floorplan payable of $623,567 thousand, compared to $903,085 thousand and $553,754 thousand, respectively, at January 31, 2026. Goodwill stood at $67,161 thousand at July 31, 2026, versus $65,583 thousand at January 31, 2026. Retained earnings decreased to $284,374 thousand from $306,140 thousand over the same period, reflecting the losses recorded during the six months ended July 31, 2026.

What Was Disclosed

Titan Machinery's Form 10-Q for the quarter ended July 31, 2026 disclosed condensed consolidated financial statements showing declining revenue, widening net losses on both a quarterly and six-month basis compared to the prior year, and changes in balance sheet composition including higher inventory and floorplan payable levels.