A year ago, Eastman Kodak’s future was cast into doubt but the company remained optimistic. Since then, Kodak has posted four straight quarters of year-over-year improvement and its stock price has nearly doubled.

Kodak’s latest financial results paint a much rosier picture than the one the legendary Rochester-based photography and film company was presenting a year ago. The company’s FY2026 Q2 revenue of $311 million is up $48 million from FY2025 Q2, and gross profit increased by $31 million over the same period, a 61 percent jump.

“The words that sum up our performance in the second quarter are stability and growth,” says Jim Continenza, Kodak’s Executive Chairman and CEO. “We continued to deliver strong results for the fourth consecutive quarter, achieving significant year-over-year improvement in revenue, gross profit and Operational EBITDA.

“The momentum we have built is the result of consistent execution of our long-term plan, especially our investments in product development and manufacturing infrastructure and our focus on operational excellence.

“Looking forward, we are entering a new phase in Kodak’s transformation where we have the operational and financial leverage to focus on growth. To capitalize on that opportunity, we will continue to expand our core businesses, increase efficiency and accelerate our investments in R&D to support our growth initiatives.”

GAAP net income was $17 million for Kodak’s second quarter this fiscal year, whereas last year, the company experienced a net loss of $26 million.

The company says this $43 million increase is “primarily due to improvements in gross profit, reduction in interest expense and lower asset impairments compared to the prior period, partially offset by lower pension income.”

The pension matter was a significant one this time last year, when Kodak said it was working to address $477 million in debt by terminating its pension plan.

“Kodak has been preparing for the pension plan termination for some time and expects to receive approximately $500 million of assets — after meeting our obligations to all pension fund participants — in December 2025 when the transaction closes,” Kodak explained last August. The emphasis there is Kodak’s.

Of Kodak’s total $307 million in revenue last quarter, $195 million was due to the company’s Print business, followed by $105 million from Advanced Materials and Chemicals. Compared to the same quarter last year, that’s an increase of $17 million for the Print business and $30 million for Advanced Materials and Chemicals.


As CineD writes, Kodak’s Advanced Materials and Chemicals includes industrial film and chemicals, motion picture film, pharmaceuticals, advanced materials and functional printing, and IP licensing and analytical services. It’s a lot. But the motion picture film is an interesting angle given that film is having a big moment in cinema these days. It’s hard not to immediately think of the film used for blockbuster hit The Odyssey that just crossed the $1 billion box office threshold. However, many acclaimed and commercially successful films in recent years have been shot on film, something Kodak itself very publicly celebrates.

While Kodak doesn’t break down the performance of individual parts of each business segment, CineD notes that during a recent Kodak factory tour by Team 2 Films, seen above, Kodak’s Vanessa Bendetti, Vice President and Head of Motion Picture and Entertainment at Kodak, said motion picture film revenue increased by 36 percent during the past two years.

As for photography film, Eastman Kodak has been fervently bringing its films back under its umbrella since last September. By this point, all of Kodak’s current photography film has been rebranded and is being sold directly by Eastman Kodak, after years of distribution by Kodak Alaris, an offshoot created in 2013, shortly after Eastman Kodak filed for bankruptcy. Eastman Kodak has come a long way since then, and the signs are promising that its business operations are sustainable right now.

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Image creditsKodak