Key Highlights

  • Recursion Pharmaceuticals ranked first with 258.5% (calculated) growth, starting from $18.6 million in revenue.
  • Aehr Test Systems hit a company high of $33.0 million in sales, a 200% increase, and nudged its fiscal 2027 outlook up to $150 million.
  • Ethos sales advanced 151% to $235.2 million, though fourth quarter guidance of $220 million to $224 million sits lower than that figure.
  • Lumentum generated $1,262.6 million of revenue, up 136.5%, and a GAAP profit of $360.3 million.
  • Voyager Technologies cited a record $742 million Backlog and Revenue of $88.7 million, growing 124.1%.

Five Names Leading the Season's Sales Expansion Race

Five companies that released results on Nov 2, 2026 stood apart in how fast revenue climbed relative to the prior year, though the scale of their starting revenue varies widely. The list runs from largest percentage gain to smallest.

At the head of the ranking, Recursion Pharmaceuticals (NASDAQ:RXRX) logged 258.5% (calculated), with third quarter sales of $18.6 million that included a $10.0 million milestone payment. Aehr Test Systems (NASDAQ:AEHR) ranks second with a 200% increase to a company-best $33.0 million in its fiscal first quarter. Ethos (NASDAQ:LIFE) is third after climbing 151% to $235.2 million. Lumentum (NASDAQ:LITE) reached $1,262.6 million, a 136.5% gain, and Voyager Technologies (NYSE:VOYG) fills the fifth slot with 124.1% growth to $88.7 million.

Starting revenue spans $18.6 million at the low end to $1,262.6 million at the high end, so identical percentages can conceal large differences in dollars added. Aehr and Lumentum report on fiscal calendars rather than calendar quarters. Aehr, Ethos and Lumentum produced net income, while Recursion and Voyager did not.

1. Recursion Pharmaceuticals: Is a Single Milestone Behind the 258.5% Surge?

In the quarter that closed Sep 30, 2026, Recursion recorded revenue of $18.6 million, against $5.2 million a year before. That equals roughly 3.6 times the prior-year amount (calculated). A $10.0 million milestone, connected to an option on an immunology candidate under a collaboration, supplied most of the increase.

This clinical-stage firm relies on AI, automation and biological datasets to find new drugs. Nine-month revenue reached $32.7 million, a 16% decline from $39.1 million, a drop the materials trace to lower income from another partner once project phases ended.

The red ink narrowed by 27%, landing at $119.0 million ($0.22 a share), while Research and Development outlays fell 18% to $99.1 million. Cash on hand was $549.9 million, which management says funds operations for a minimum of 12 months, while the filing acknowledges that more financing will eventually be required.

2. Aehr Test Systems: Fiscal Quarter Sales Reach a Company Peak of $33.0 Million

Aehr's fiscal first quarter 2027 sales, covering the period ending Sep 25, 2026, hit a company high of $33.0 million. Year on year, the figure climbed 200% from $11.0 million, and it rose 75% compared with the preceding quarter. The company builds test and burn-in equipment that detects early semiconductor defects, including chips meant for AI processors.

Under GAAP, Earnings came to $7.2 million, equal to $0.21 on a diluted basis, versus a $2.1 million shortfall a year earlier, and the gross Margin reached 47.5%. New orders totaled $46.7 million, while effective backlog was $109.3 million on Nov 1, 2026.

Management pushed its fiscal 2027 revenue expectation up to $150 million, from an earlier band between $130 million and $150 million, and anticipates non-GAAP profit at no less than 20% of sales. Flagged risks include customer forecasts that are not binding and the chance of delayed or canceled orders.

3. Ethos: Why the Next Quarter's Forecast Lands Below $235.2 Million

Ethos delivered $235.2 million in third quarter revenue, which is 151% above $93.8 million and marks the third consecutive period in which growth exceeded 100%. Direct-channel sales grew 112%, reaching $118.8 million, while the third-party route advanced 209% to $116.4 million. The firm operates an online platform for life insurance.

Profit fell to $4.7 million ($0.07 a share) from $15.9 million the year before, and adjusted EBITDA came in at $34.9 million. Revenue per policy averaged $1,655, a 13% decline, as whole life contracts made up a bigger share of third-party sales.

Full-year 2026 revenue guidance was raised to a range of $838 million to $842 million. Guidance for the fourth quarter sits at $220 million to $224 million, below the third-quarter total. That comparison comes from these figures rather than from company commentary.

4. Lumentum: How a $7.2 Billion Previous Deficit Gives Way to $360.3 Million in Profit

Lumentum's fiscal first quarter 2027 revenue totaled $1,262.6 million, a 136.5% increase relative to $533.8 million, and it sat 25.5% higher than the previous quarter. The systems segment expanded 228.8%, landing at $508.4 million, while components reached $754.2 million, a 98.9% advance. Its products include lasers and optical subsystems for data centers.

On a GAAP basis, the company earned $360.3 million, which equals $3.54 on a diluted basis, after a prior-quarter deficit of $7.2 billion. A reconciliation table ties that earlier shortfall to a $7,756.6 million charge tied to retiring debt. On a non-GAAP basis, earnings were $461.1 million.

Looking ahead to the fiscal second quarter, management projects sales between $1.575 billion and $1.625 billion, with adjusted per-share earnings from $5.90 up to $6.20. Liquid holdings, meaning cash plus short-term investments, amounted to $2.0 billion, a $758.8 million reduction versus the previous quarter; the materials give no explanation for this drop.

5. Voyager Technologies: Acquisition Adds $347 Million to a $742 Million Order Book

Sales for the period reached $88.7 million, marking 124.1% growth from $39.6 million, while bookings hit $116 million and backlog reached $742 million, both at record levels. Of the backlog figure, $347 million arrived through an acquisition.

This defense technology and space firm recorded losses of $55.7 million, equal to $0.91 a share, compared with $16.3 million a year before, with gross margin dropping from 15.4% to 11.5%. Overhead outlays, meaning sales, general and administrative costs, climbed to $47.8 million, while R&D spending reached $16.3 million.

Voyager nudged up the floor of its 2026 sales forecast by $10 million, now $285 million to $305 million. September closed with cash of $553.6 million and total Liquidity of $815.7 million, and the quarter saw free Cash Flow of negative $47.8 million.

Comparing the Group: Growth Rates Versus Dollar Bases

The group's mean growth rate was 174.0% (calculated). Measured from Voyager Technologies' 124.1% up to Recursion Pharmaceuticals' 258.5%, the range covers 134.4 percentage points (calculated). Adding every company's quarterly sales gives roughly $1,638.1 million (calculated), of which Lumentum supplies about 77.1% (calculated).

Such clustering is why percentages can be deceptive. In dollar terms, Recursion's rise equates to about $13.4 million (calculated), whereas Lumentum's adds roughly $728.8 million (calculated); the former leaned heavily on one milestone.

Profitable on a net basis were three of the five: Aehr ($7.2 million), Ethos ($4.7 million) and Lumentum ($360.3 million). Recursion posted $119.0 million of losses and Voyager $55.7 million. Period definitions also diverge, because two members, Aehr and Lumentum, follow fiscal calendars.

What to Watch Next: Trial Start Timing, Taiwan Setup and Upcoming Quarterly Checkpoints

Recursion plans to launch a registrational study for REC-4881 during 2027's second half, subject to FDA discussions, and it aims to publish expansion data for REC-1245 during that same half-year; no precise dates were given. Aehr notes a Taiwan installation is scheduled for early 2027, and says current orders already cover much of the second quarter.

Ethos is slated to give a 2027 outlook alongside its February fourth-quarter report, though the day has not been named. Lumentum's documents point to no specific date for a catalyst, leaving its fiscal second quarter release as the next marker.

Voyager must file a proposal under a government commercial space station competition by December 2026; the award is expected in spring 2027, and a lander is due to launch late in 2026.