Kodak is continuing to put distance between its historic identity as a consumer film giant and its current reality as a diversified imaging and advanced-materials company. The Rochester-based company reported $311 million in second-quarter 2026 revenue, up 18% from $263 million a year earlier. Gross profit jumped 61% to $82 million, while Operational EBITDA rose from $9 million to $36 million. Kodak also swung from a $26 million loss in Q2 2025 to $17 million in GAAP net income. The biggest percentage gain came from Advanced Materials & Chemicals, where revenue increased 40% year over year to $105 million and Operational EBITDA climbed from $8 million to $22 million. Its Print business, meanwhile, generated $195 million in revenue, up 10%, and moved from a $4 million Operational EBITDA loss to an $8 million gain. For photographers, the numbers are interesting less because Kodak is suddenly becoming a camera company again—it isn't—and more because they show a business with substantially more financial momentum behind the photographic materials that remain part of its identity. Kodak continues to manufacture photographic film and related materials, even as its largest businesses are commercial printing and advanced materials and chemicals. The company says its latest quarter represents the fourth consecutive quarter of year-over-year growth in revenue, gross profit and Operational EBITDA. CEO and Executive Chairman Jim Continenza described the quarter as one of “stability and growth,” pointing to continued investment in product development, manufacturing infrastructure and R&D. There is, however, a less glamorous side to the balance sheet. Kodak ended June with $290 million in cash, down from $337 million at the end of 2025. The decline was driven primarily by $101 million in required term-loan repayments and a $37 million increase in inventory, much of it associated with silver and aluminum. Kodak partially offset those outflows with $87 million from the redemption of Kodak Retirement Income Plan investment assets. That exposure to silver and aluminum is particularly relevant to the photographic side of the business: Kodak's film manufacturing remains tied to commodities whose prices can materially affect margins. Still, the broader picture is notable. Kodak isn't simply surviving as a nostalgic film brand. Its Q2 results show a company generating meaningful growth across its industrial businesses while continuing to invest in the manufacturing infrastructure behind its materials and printing operations. For film photographers, that's arguably the more important story. The future of Kodak's photographic products depends less on whether the company can recreate its 20th-century consumer-camera empire than on whether the modern Kodak can build a profitable business around the specialized materials, chemistry and manufacturing capabilities that remain difficult to replace.
Industry
Kodak Posts Strong Q2 as Film-Era Brand Continues Its Industrial Reinvention
Kodak's revival isn't a comeback in the conventional sense. It's something stranger—and potentially more interesting: a century-old photographic company becoming an industrial materials business that happens to still make film.
August 13, 2026