inTest Corporation (INTT)

Sidoti Events, LLC's May Micro-Cap Virtual ConferenceMay 20, 2026 7:30 AM
ACCESS NewswireNEW YORK, NY / ACCESS Newswire / May 20, 2026 / Sidoti Events, LLC, an affiliate of Sidoti & Company, LLC, has released the presentation schedule and weblinks for its two-day May Micro-Cap Virtual Investor Conference taking place Wednesday and Thursday, May 20-21, 2026. The presentation schedule is subject to change. Please visit www.sidoti.com/events for the most updated version and webinar links. Presentation Schedule*All Times EDTWednesday, May 20, 2026 (Day 1)8:30-9:00Huize Holding Limited (HUIZ)*****9:15-9:45U Power Limited (UCAR)SuperCom (SPCB)10:00-10:30InTest Corporation (INTT)Dyadic Applied BioSolutions (DYAI)10:45-11:15International Battery Metals (IBATF)A2Z Cust2mate (AZ)11:30-12:00C1 Fund (CFND)Oil States International (OIS)12:15-12:45Heliostar Metals (HSTR)Acme United Corporation (ACU)1:00-1:30Matrix Service Company (MTRX)Horizon Aircraft (HOVR)1:45-2:15Intrusion Inc. (INTZ) 2:30-3:00ESS Tech (GWH)*****3:15-3:4520/20 Biolabs, Inc. (AIDX)*****4:00-4:30***** 1x1s Only(20th)Bassett Furniture (BSET)****************All Times EDTThursday, May 21, 2026 (Day 2)8:30-9:00Owlting Group (OWLS)Einride (LEGT)9:15-9:45Mastech Digital, Inc. (MHH)CBAK Energy Technology (CBAT)10:00-10:30Cabbacis (CABI)Electra AI (IRHO)10:45-11:15Intellicheck (IDN)*****11:30-12:00Harvard Bioscience, Inc. (HBIO)Stakeholder Gold Corporation (SRC)12:15-12:45*****First Phosphate (FRSPF)1:00-1:30SafeSpace Global Corp. (SSGC)*****1:45-2:15Myomo, Inc (MYO)*****2:30-3:00Flexsteel Industries, Inc. (FLXS)*****3:15-3:45Oragenics, Inc. (OGEN)Power Metallic Mines (PNPNF)4:00-4:30Highland Copper Company (HDRSF)*****1x1s Only(21st)Bassett Furniture (BSET)***************About Sidoti Events, LLC ("Events") and Sidoti & Company, LLC ("Sidoti")
In 2023, Sidoti & Company, LLC formed an affiliate company, Sidoti Events, LLC in order to focus exclusively on its rapidly growing conference business and to more directly serve the needs of presenters and attendees. The relationship allows Events to draw on the over 25 years of experience Sidoti has as a premier provider of independent securities research focused specifically on small and microcap companies and the institutions that invest in their securities, with most of its coverage in the $200 million-$5 billion market cap range. Sidoti's coverage universe comprises approximately 130 equities, of which over 80 percent participate in the firm's rapidly growing Company Sponsored Research ("CSR") program. Events is a leading provider of corporate access through the many investor conferences it hosts each year. By virtue of its direct ties to Sidoti, Events benefits from Sidoti's small- and microcap-focused nationwide sales force, which has connections with over 2,500 institutional relationships in North America. This enables Events to provide multiple forums for meaningful interaction for small and microcap issuers and investors specifically interested in companies in the sector.Media Contact:Ally Cecil
Conference Coordiantor

InTest Reports Strong First Quarter 2026 Revenue of $33.9 Million, EPS of $0.06 and Adjusted EPS (Non-GAAP) of $0.16May 5, 2026 6:15 AM
Business Wire Revenue grew 27.2% year-over-year driven by continued diversity and strength from all end markets Gross margin of 45.5%, reflecting higher volume and favorable product mix Orders1 of $31.8 million grew 25.4% year-over-year but declined sequentially following two consecutive quarters of record orders Net earnings of $0.8 million; Adjusted EBITDA (Non-GAAP)2 of $3.2 million Raises 2026 Revenue Guidance to $130 million to $135 million on improving market conditions InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include semiconductor (“Semi”), Auto/EV, Defense/Aerospace, Industrial, Life Sciences, and Safety/Security, today announced financial results for the first quarter of 2026 ended March 31, 2026. “InTest delivered a good start to 2026, with first quarter results slightly ahead of guidance, reflecting our strong execution,” stated Rich Rogoff, President and CEO. “With 69% of revenue generated from non-semiconductor end markets, we saw strong year-over-year growth across Defense/Aerospace, Life Sciences, and Auto/EV. Our Semi business improved, benefitting from shipments from our backlog1 rather than first quarter orders. These results demonstrate the adoption of new products developed by our engineering teams and the deepening of customer relationships driven by our sales teams. “Beyond the quarter's financial results, we continue to advance the operational priorities that will define 2026 and beyond,” continued Mr. Rogoff. “Having led our M&A strategy, I have seen firsthand how our portfolio companies create value individually and, more importantly, how they are creating greater value together. My top priority is to deepen those connections by removing operational friction and accelerating cross-business product development and selling to unlock the full value of our platform. Central to this is expanding gross margin and Adjusted EBITDA (Non-GAAP)2 over time, through disciplined cost management and supply-chain efficiency initiatives, while deploying capital with rigor across organic innovation, global customer expansion, and targeted M&A. Together, these actions are intended to generate stronger free cash flow and enhance shareholder returns.” First Quarter 2026 Review (see revenue by market and by segments in accompanying tables)   Three Months Ended ($ in thousands except percentages and per share data) March 31,   March 31,   Change   December 31,   Change   2026       2025     $   %     2025     $   % Revenue $ 33,886     $ 26,637     $ 7,249   27.2 %   $ 32,822     $ 1,064     3.2 % Gross profit $ 15,408     $ 11,056     $ 4,352   39.4 %   $ 14,899     $ 509     3.4 % Gross margin   45.5 %     41.5 %             45.4 %         Operating expenses (including intangible amortization & restructuring) $ 14,454     $ 13,937     $ 517   3.7 %   $ 13,623     $ 831     6.1 % Operating income (loss) $ 954     $ (2,881 )   $ 3,835   (133.1 %)   $ 1,276     $ (322 )   25.2 % Operating margin   2.8 %     (10.8 %)             3.9 %         Net earnings (loss) $ 789     $ (2,329 )   $ 3,118   (133.9 %)   $ 1,243     $ (454 )   36.5 % Net margin   2.3 %     (8.7 %)             3.8 %         Earnings (loss) per diluted share (“EPS”) $ 0.06     $ (0.19 )   $ 0.25   (131.6 %)   $ 0.10     $ (0.04 )   40.0 % Adjusted net earnings (loss) (Non-GAAP)2 $ 2,018     $ (1,389 )   $ 3,407   (245.3 %)   $ 1,953     $ 65     (3.3 %) Adjusted EPS (Non-GAAP)2 $ 0.16     $ (0.11 )   $ 0.27   (245.5 %)   $ 0.16     $ —     — % Adjusted EBITDA (Non-GAAP)2 $ 3,165     $ (887 )   $ 4,052   (456.8 %)   $ 3,192     $ (27 )   (0.8 %) Adjusted EBITDA margin (Non-GAAP)2   9.3 %     (3.3 %)             9.7 %         Revenue for the first quarter increased $1.1 million over the fourth quarter of 2025, reflecting higher Semi and Auto/EV shipments, partially offset by lower Industrial following a stronger than normal fourth quarter. Compared to the prior-year period, first quarter revenue increased $7.2 million with growth in Defense/Aerospace, Life Sciences, Auto/EV and Semi, partially offset by a decrease in Other. Gross margin expanded by 10 basis points sequentially to 45.5%, reflecting higher volume and a favorable product mix. Compared to the prior-year period, gross margin expanded 400 basis points reflecting higher volume, favorable product mix, and manufacturing efficiency initiatives. Operating expenses increased $0.8 million sequentially and $0.5 million year-over-year, due primarily to $0.7 million in restructuring costs associated with our CEO transition. Net earnings for the first quarter was $0.8 million, or $0.06 per diluted share. Adjusted net earnings (Non-GAAP)2 was $2.0 million, or $0.16 adjusted EPS (Non-GAAP)2. Balance Sheet and Cash Flow Review Cash, cash equivalents and restricted cash at the end of the first quarter of 2026 was $15.7 million, down $2.4 million from the end of the fourth quarter. During the quarter, we reduced our term debt by $1.0 million from December 31, 2025, and used $3.3 million in operating activities to invest in working capital. Capital expenditures were $0.6 million in the first quarter of 2026. At March 31, 2026, the Company had $30.0 million available under its delayed draw term loan facility and no borrowings under the $10.0 million revolving credit facility. On August 5, 2025, the Company entered into a covenant waiver agreement with its U.S.-based lender through the first quarter of 2026 in exchange for pledging cash equal to U.S. debt outstanding. At March 31, 2026, there was $2.8 million U.S.-based debt outstanding. On May 4, 2026, we amended the facility, effective as of April 30, 2026, to extend our ability to draw on the Term Note through August 28, 2026. At March 31, 2026, we were in compliance with all of the other covenants included in the Loan Agreement. First Quarter 2026 Orders1 and Backlog1 (see orders by market in accompanying tables)   Three Months Ended   March 31,   March 31,   Change   December 31,   Change ($ in thousands except percentages) 2026   2025   $   %   2025   $   % Orders $ 31,785   $ 25,349   $ 6,436   25.4 %   $ 37,471   $ (5,686 )   (15.2 %) Backlog (at quarter end) $ 51,815   $ 38,232   $ 13,583   35.5 %   $ 53,916   $ (2,101 )   (3.9 %) First quarter orders of $31.8 million decreased sequentially with lower Life Sciences, Semi, Other and Safety/Security orders partially offset by increases in Auto/EV, Industrial and Defense/Aerospace. The year-over-year increase of $6.4 million reflects strength primarily in Auto/EV and Defense/Aerospace partially offset by the decline in Semi. Backlog at March 31, 2026, was $51.8 million, a decrease of 3.9% from December 31, 2025, and an increase of 35.5% compared to March 31, 2025. Approximately 50% of the backlog is expected to ship beyond the second quarter of 2026. Second Quarter 2026 and Raised Full Year 2026 Outlook Mr. Rogoff concluded, “Based on our first quarter outperformance, and improving market conditions, we are raising our full year 2026 revenue outlook to $130 million to $135 million, reflecting our confidence in the continued execution of our growth plans for the year. We remain encouraged by the underlying demand trends across our non-semiconductor markets and by early signs of improvement in our back-end Semi funnel. The strength of our backlog, the breadth of our end market exposure, and the discipline of our team give us confidence in our ability to continue to execute similarly.” For Q2 26, InTest projects revenue to be $32 million to $34 million, with gross margin of approximately 45%, and operating expenses of $13.8 million to $14.2 million, reflecting typically higher levels in the second quarter. Amortization expense is expected to be $0.7 million. Based on full-year 2026 revenue projections between $130 million to $135 million, the Company expects gross margin of approximately 45% and operating expenses of $55 million to $57 million for the year. Amortization expense is expected to be $2.6 million and interest expense of $0.3 million. The effective tax rate for the year is expected to be approximately 18%. Capital expenditures are estimated to be approximately 1% to 2% of revenue. The foregoing guidance is based on management’s current views with respect to operating and market conditions and customers’ forecasts. Actual results may differ materially from what is provided here today as a result of, among other things, the factors described under “Forward-Looking Statements” below. Conference Call and Webcast The Company will host a conference call and webcast today at 8:30 a.m. ET. During the conference call, management will review the financial and operating results and discuss InTest’s corporate strategy and outlook. A question-and-answer session will follow. To listen to the live call, dial (877) 407-0792 or (201) 689-8263. In addition, the webcast and slide presentation may be found at https://www.intest.com/investor-relations. A telephonic replay will be available from 12:30 p.m. ET on the day of the call through Tuesday, May 19, 2026. To listen to the archived call, dial (844) 512-2921 or (412) 317-6671 and enter replay pin number 13759517. The webcast replay can be accessed via the investor relations section of https://www.intest.com/, where a transcript will also be posted once available. About InTest Corporation InTest Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including both the front-end and back-end of the semiconductor manufacturing industry (“Semi”), Automotive/EV, Defense/Aerospace, Industrial, Life Sciences and Safety/Security. Backed by decades of engineering expertise and a culture of operational excellence, InTest solves difficult thermal, mechanical, and electronic challenges for customers worldwide. InTest’s growth strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, customer penetration and market expansion. For more information, visit https://www.intest.com/. Non-GAAP Financial Measures In addition to disclosing results that are determined in accordance with generally accepted accounting practices in the United States (“GAAP”), we also disclose non-GAAP financial measures. These non-GAAP financial measures consist of adjusted net earnings (loss), adjusted earnings (loss) per diluted share (“adjusted EPS”), adjusted EBITDA, and adjusted EBITDA margin. The Company defines these non-GAAP measures as follows: Adjusted net earnings (loss) is derived by adding acquired intangible amortization, restructuring costs, and the tax effect of the adjusting items, to net earnings (loss). Adjusted earnings (loss) per diluted share is derived by dividing adjusted net earnings (loss) by diluted weighted average shares outstanding. Adjusted EBITDA is derived by adding acquired intangible amortization, restructuring costs, net interest expense, income tax expense, depreciation, and stock-based compensation expense to net earnings. Adjusted EBITDA margin is derived by dividing adjusted EBITDA by revenue. These results are provided as a complement to the results provided in accordance with GAAP. Adjusted net earnings (loss) and adjusted earnings (loss) per diluted share (“adjusted EPS”) are non-GAAP financial measures presented to provide investors with meaningful, supplemental information regarding our baseline performance before acquired intangible amortization, and restructuring costs as management believes these expenses may not be indicative of our underlying operating performance. Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures presented primarily as a measure of liquidity as they exclude non-cash charges for acquired intangible amortization, depreciation and stock-based compensation. In addition, adjusted EBITDA and adjusted EBITDA margin also exclude the impact of restructuring costs, interest income or expense and income tax expense or benefit, as management believes these expenses may not be indicative of our underlying operating performance. Management’s Use of Non-GAAP Measures The non-GAAP financial measures presented in this press release are used by management to make operational decisions, to forecast future operational results, and for comparison with our business plan, historical operating results and the operating results of our peers. Reconciliations from net earnings (loss) and earnings (loss) per diluted share (“EPS”) to adjusted net earnings (loss) and adjusted earnings (loss) per diluted share (“adjusted EPS”) and from net earnings (loss) and net margin to adjusted EBITDA and adjusted EBITDA margin, are contained in the tables below. Management believes these Non-GAAP financial measures are important in evaluating our performance, results of operations, and financial position. We use non-GAAP financial measures to supplement our GAAP results to provide a more complete understanding of the factors and trends affecting our business. Non-GAAP measures as presented in this press release may differ from and may not be comparable to similarly titled measures used by other companies. Key Performance Indicators In addition to the foregoing non-GAAP measures, management uses orders and backlog as key performance metrics to analyze and measure the Company’s financial performance and results of operations. Management uses orders and backlog as measures of current and future business and financial performance, and these may not be comparable with measures provided by other companies. Orders represent written communications received from customers requesting the Company to provide products and/or services. Backlog is calculated based on firm purchase orders we receive for which revenue has not yet been recognized. Management believes tracking orders and backlog are useful as they are often leading indicators of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer. Given that each of orders and backlog are operational measures and that the Company’s methodology for calculating orders and backlog does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for each is not required or provided. Forward-Looking Statements This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “believe,” “continue,” “expects,” “guidance,” “intended,” “may,” “outlook,” “will,” “plan,” “potential,” “strategy,” “target,” “estimated,” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its VISION 2030 Strategy; realize the potential benefits of acquisitions and successfully integrate any acquired operations; grow the Company’s presence in its key target and international markets; manage supply chain challenges; convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including changes in U.S. and/or foreign trade policy, rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2025, and any subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law. – FINANCIAL TABLES FOLLOW –   InTest Corporation
Consolidated Statements of Operations
(Unaudited)       Three Months Ended   March 31, (In thousands, except share and per share data)   2026       2025   Revenue $ 33,886     $ 26,637   Cost of revenue   18,478       15,581   Gross profit   15,408       11,056           Operating expenses:       Selling expense   4,220       4,547   Engineering and product development expense   2,588       2,448   General and administrative expense   6,124       5,816   Amortization of acquired intangible assets   778       813   Restructuring costs   744       313   Total operating expenses   14,454       13,937           Operating income (loss)   954       (2,881 ) Interest expense   (80 )     (152 ) Other income   103       244           Earnings (loss) before income tax expense (benefit)   977       (2,789 ) Income tax expense (benefit)   188       (460 )         Net earnings (loss) $ 789     $ (2,329 )         Earnings (loss) per common share:       Basic $ 0.06     $ (0.19 ) Diluted $ 0.06     $ (0.19 )         Weighted average common shares outstanding:       Basic   12,254,035       12,179,418   Diluted   12,421,345       12,179,418     InTest Corporation
Consolidated Balance Sheets       March 31,
2026   December 31,
2025 (In thousands, except share and per share data) (Unaudited)     ASSETS       Current assets:       Cash and cash equivalents $ 12,867     $ 14,216   Restricted cash   2,817       3,842   Trade accounts receivable, net of allowance for credit losses of $341 and $375, respectively   30,154       25,891   Inventories   30,451       31,580   Prepaid expenses and other current assets   3,336       3,109   Total current assets   79,625       78,638   Property and equipment, net of accumulated depreciation of $10,219 and $10,083, respectively   4,965       4,778   Right-of-use assets, net   8,588       9,098   Goodwill   32,141       32,359   Intangible assets, net   23,861       24,876   Deferred tax assets   930       775   Other assets   657       789   Total assets $ 150,767     $ 151,313           LIABILITIES AND STOCKHOLDERS’ EQUITY       Current liabilities:       Current portion of long-term debt $ 7,417     $ 6,062   Current portion of operating lease liabilities   2,123       2,098   Accounts payable   8,901       11,205   Customer deposits and deferred revenue   6,785       6,388   Domestic and foreign income taxes payable   734       —   Accrued expenses and other current liabilities   9,872       10,002   Total current liabilities   35,832       35,755   Operating lease liabilities, net of current portion   6,861       7,402   Long-term debt, net of current portion   1,120       1,406   Contingent consideration, net of current portion   —       356   Deferred revenue, net of current portion   823       1,055   Other liabilities   1,662       1,716   Total liabilities   46,298       47,690   Commitments and Contingencies       Stockholders’ equity:       Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding   —       —   Common stock, $0.01 par value; 20,000,000 shares authorized; 12,633,051 and 12,570,865 shares issued, respectively; 12,548,292 and 12,488,788 shares outstanding, respectively   126       125   Additional paid-in capital   60,268       59,436   Retained earnings   43,349       42,560   Accumulated other comprehensive earnings   1,722       2,461   Treasury stock, at cost; 84,759 and 82,077 shares, respectively   (996 )     (959 ) Total stockholders’ equity   104,469       103,623   Total liabilities and stockholders’ equity $ 150,767     $ 151,313     InTest Corporation
Consolidated Statements of Cash Flows
(Unaudited)       Three Months Ended March 31, (In thousands)   2026       2025   CASH FLOWS FROM OPERATING ACTIVITIES       Net earnings (loss) $ 789     $ (2,329 ) Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:       Depreciation and amortization   1,641       1,741   Provision for excess and obsolete inventory   271       206   Amortization of deferred compensation related to stock-based awards   291       423   Deferred income tax (expense) benefit   (157 )     199   Other non-cash reconciling items   132       (193 ) Changes in assets and liabilities:       Trade accounts receivable   (3,834 )     8,493   Inventories   621       (590 ) Prepaid expenses and other current assets   (714 )     (377 ) Other assets   (120 )     (21 ) Operating lease liabilities   (519 )     (523 ) Accounts payable   (2,339 )     15   Customer deposits and deferred revenue   456       (153 ) Domestic and foreign income taxes payable   858       (716 ) Deferred revenue, net of current portion   (232 )     (27 ) Accrued expenses and other liabilities   (459 )     (613 ) Net cash (used in) provided by operating activities   (3,315 )     5,535   CASH FLOWS FROM INVESTING ACTIVITIES       Purchases of property and equipment   (644 )     (229 ) Net cash used in investing activities   (644 )     (229 ) CASH FLOWS FROM FINANCING ACTIVITIES       Short-term borrowings, net of repayments   2,189       (2,426 ) Repayments of long-term debt   (1,025 )     (1,025 ) Proceeds from stock options exercised   534       18   Proceeds from shares sold under Employee Stock Purchase Plan   31       32   Settlement of employee tax liabilities in connection with treasury stock transaction   (62 )     (5 ) Net cash provided by (used in) financing activities   1,667       (3,406 ) Effects of exchange rates on cash   (82 )     318   Net cash (used in) provided by all activities   (2,374 )     2,218   Cash, cash equivalents and restricted cash at beginning of period   18,058       19,830   Cash, cash equivalents and restricted cash at end of period $ 15,684     $ 22,048           Cash and cash equivalents $ 12,867     $ 19,830   Restricted cash   2,817       —   Total cash, cash equivalents and restricted cash at end of period $ 15,684     $ 19,830           Cash (receipts) payments for:       Domestic and foreign income taxes, net of receipts $ (572 )   $ 32   Interest   86       142           SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES       Issuance of unvested shares of restricted stock awards   1,455       1,039   Forfeiture of shares of unvested restricted stock awards   (1,386 )     (282 )   InTest Corporation
Revenue by Market
(Unaudited)     ($ in thousands) Three Months Ended   March 31,   March 31,   Change   December 31,   Change   2026   2025   $   %   2025   $   % Revenue                                       Semi $ 10,507   31.0 %   $ 8,995   33.8 %   $ 1,512     16.8 %   $ 6,941   21.1 %   $ 3,566     51.4 % Auto/EV   7,487   22.1 %     5,959   22.4 %     1,528     25.6 %     5,933   18.1 %     1,554     26.2 % Defense/Aerospace   5,822   17.2 %     2,828   10.6 %     2,994     105.9 %     5,537   16.9 %     285     5.1 % Industrial   3,242   9.6 %     3,021   11.3 %     221     7.3 %     6,937   21.1 %     (3,695 )   (53.3 %) Life Sciences   3,572   10.5 %     1,688   6.3 %     1,884     111.6 %     4,043   12.3 %     (471 )   (11.6 %) Safety/Security   1,112   3.3 %     564   2.1 %     548     97.2 %     503   1.5 %     609     121.1 % Other   2,144   6.3 %     3,582   13.4 %     (1,438 )   (40.1 %)     2,928   8.9 %     (784 )   (26.8 %)   $ 33,886   100.0 %   $ 26,637   100.0 %   $ 7,249     27.2 %   $ 32,822   100.0 %   $ 1,064     3.2 % * Components may not add up to total due to rounding   Orders by Market
(Unaudited)     ($ in thousands) Three Months Ended   March 31,   March 31,   Change   December 31,   Change   2026   2025   $   %   2025   $   % Orders                                       Semi $ 7,677   24.2 %   $ 9,640   38.0 %   $ (1,963 )   (20.4 %)   $ 9,446   25.2 %   $ (1,769 )   (18.7 %) Auto/EV   10,744   33.8 %     5,061   20.0 %     5,683     112.3 %     9,857   26.3 %     887     9.0 % Defense/Aerospace   5,918   18.6 %     2,083   8.2 %     3,835     184.1 %     5,232   14.0 %     686     13.1 % Industrial   4,123   13.0 %     4,551   18.0 %     (428 )   (9.4 %)     3,305   8.8 %     818     24.8 % Life Sciences   1,587   5.0 %     1,232   4.9 %     355     28.8 %     5,379   14.4 %     (3,792 )   (70.5 %) Safety/Security   260   0.8 %     675   2.7 %     (415 )   (61.5 %)     1,087   2.9 %     (827 )   (76.1 %) Other   1,476   4.6 %     2,107   8.3 %     (631 )   (29.9 %)     3,165   8.4 %     (1,689 )   (53.4 %)   $ 31,785   100.0 %   $ 25,349   100.0 %   $ 6,436     25.4 %   $ 37,471   100.0 %   $ (5,686 )   (15.2 %) * Components may not add up to total due to rounding   InTest Corporation
Segment Data
(Unaudited)       Three Months Ended March 31, 2026 ($ in thousands) Electronic Test   Environmental
Technologies   Process
Technologies   Corporate &
Other   Consolidated Revenue $ 17,341   $ 8,351   $ 8,194   $ —     $ 33,886   Cost of revenue   8,923     4,867     4,688     —       18,478   Other divisional costs   5,621     2,265     2,813     —       10,699   Division operating income   2,797     1,219     693     —       4,709   Acquired intangible amortization               778       778   Restructuring costs               744       744   Corporate expenses               2,233       2,233   Operating income (loss)   2,797     1,219     693     (3,755 )     954   Interest expense               (80 )     (80 ) Other income               103       103   Earnings (loss) before income tax expense $ 2,797   $ 1,219   $ 693   $ (3,732 )   $ 977         Three Months Ended March 31, 2025 ($ in thousands) Electronic Test   Environmental
Technologies   Process
Technologies   Corporate &
Other   Consolidated Revenue $ 13,259   $ 6,268     $ 7,110   $ —     $ 26,637   Cost of revenue   7,313     4,163       4,105     —       15,581   Other divisional costs   5,265     2,360       2,798     —       10,423   Division operating income (loss)   681     (255 )     207     —       633   Acquired intangible amortization               813       813   Restructuring costs               313       313   Corporate expenses               2,388       2,388   Operating income (loss)   681     (255 )     207     (3,514 )     (2,881 ) Interest expense               (152 )     (152 ) Other income               244       244   Earnings (loss) before income tax expense $ 681   $ (255 )   $ 207   $ (3,422 )   $ (2,789 )     InTest Corporation
Reconciliation of Non-GAAP Financial Measures
(Unaudited) Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Loss) (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted EPS (Non-GAAP):   Three Months Ended   March 31,   March 31,   December 31, (in thousands except per share amounts)   2026       2025       2025   Net earnings (loss) $ 789     $ (2,329 )   $ 1,243   Acquired intangible amortization   778       813       842   Restructuring costs   744       313       205   Tax effect of adjusting items   (293 )     (186 )     (337 ) Adjusted net earnings (loss) (Non-GAAP) $ 2,018     $ (1,389 )   $ 1,953   Diluted weighted average shares outstanding   12,421       12,179       12,277   Earnings (loss) per diluted share:           Net earnings (loss) $ 0.06     $ (0.19 )   $ 0.10   Acquired intangible amortization   0.06       0.07       0.07   Restructuring costs   0.06       0.03       0.02   Tax effect of adjusting items   (0.02 )     (0.02 )     (0.03 ) Adjusted EPS (Non-GAAP) $ 0.16     $ (0.11 )   $ 0.16     Reconciliation of Net Earnings (Loss) and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP):   Three Months Ended   March 31,   March 31,   December 31, (in thousands except percentage data)   2026       2025       2025   Net earnings (loss) $ 789     $ (2,329 )   $ 1,243   Acquired intangible amortization   778       813       842   Net interest (income) expense   —       37       (8 ) Income tax expense (benefit)   188       (460 )     134   Depreciation   375       316       378   Restructuring costs   744       313       205   Stock-based compensation   291       423       398   Adjusted EBITDA (Non-GAAP) $ 3,165     $ (887 )   $ 3,192   Revenue $ 33,886     $ 26,637     $ 32,822   Net margin   2.3 %     (8.7 %)     3.8 % Adjusted EBITDA margin (Non-GAAP)   9.3 %     (3.3 %)     9.7 % 1 Orders and Backlog are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding InTest’s use of these metrics.
2 Adjusted net earnings (loss), adjusted EPS, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures that accompany this press release. View source version on businesswire.com: https://www.businesswire.com/news/home/20260505949765/en/ InTest Corporation
Duncan Gilmour
Chief Financial Officer and Treasurer
Tel: (856) 505-8999 Investors:
Jody Burfening / Sanjay M. Hurry
Alliance Advisors IR
INTTIR @ Original: InTest Reports Strong First Quarter 2026 Revenue of $33.9 Million, EPS of $0.06 and Adjusted EPS (Non-GAAP) of $0.16

InTest Schedules First Quarter 2026 Financial Results Conference Call and WebcastApril 27, 2026 4:30 PM
Business Wire
InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include semiconductor (“semi”), automotive/EV, defense/aerospace, industrial, life sciences and safety/security, announced it will release its first quarter 2026 financial results before the opening of financial markets on Tuesday, May 5, 2026.


The Company will host a conference call and webcast that day to review its financial and operating results and discuss its corporate strategies and outlook. A question-and-answer session will follow.


First Quarter 2026 Conference Call


Tuesday, May 5, 2026

8:30 a.m. Eastern Time

Phone: (201) 689-8263

Webcast and accompanying slide presentation: InTest.com


A telephonic replay will be available from 12:30 p.m. ET on the day of the call through Tuesday, May 19, 2026. To listen to the archived call, dial (412) 317-6671 and enter replay pin number 13759517. The webcast replay can be accessed via the investor relations section at InTest.com, where a transcript will also be posted once available.


About InTest Corporation


InTest Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including both the front-end and back-end of the semiconductor manufacturing industry (“semi”), automotive/EV, defense/aerospace, industrial, life sciences and safety/security. Backed by decades of engineering expertise and a culture of operational excellence, InTest solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. InTest’s growth strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, customer penetration and market expansion. For more information, visit www.InTest.com.

View source version on businesswire.com: https://www.businesswire.com/news/home/20260427721816/en/
InTest Corporation

Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999


Investors:

Jody Burfening / Sanjay M. Hurry

Alliance Advisors IR

INTTIR@allianceadvisors.com

Tel: (212) 838-3777


Original: InTest Schedules First Quarter 2026 Financial Results Conference Call and Webcast

InTest Promotes Rich Rogoff to Chief Executive OfficerApril 1, 2026 7:30 AM
Business Wire
InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include Semiconductor, Auto/EV, Defense/Aerospace, Industrial, Life Sciences, and Safety/Security, today announced that Rich Rogoff, Division President of InTest’s Environmental Technologies Division, has also been named President and Chief Executive Officer of InTest Corporation and appointed to the InTest Board of Directors, replacing Nick Grant who has served as President, CEO and Board member since 2020, effective immediately.


Mr. Rogoff joined InTest in October 2021 as Vice President Corporate Development. In that role he led InTest’s acquisitions of Acculogic, Videology and Alfamation and on an interim basis ran InTest’s Process Technologies and Environmental Technologies Divisions, before being promoted to Division President Environmental Technologies in June 2025. Mr. Rogoff was also instrumental in establishing InTest’s Center of Excellence in Penang, Malaysia. Earlier in his career Mr. Rogoff spent 7 years at Onto Innovation and one of its predecessor companies as Vice President and Business Unit Manager Lithography Systems and then Vice President Strategic Initiatives and Integration Management Office. Prior to that, he spent more than 20 years at ASML Inc. where he held positions including Vice President Business Development & Business Unit Manager Optics and Vice President European Sales & Worldwide Account Support. Mr. Rogoff holds a BS in Microelectronic Engineering from the Rochester Institute of Technology in Rochester, NY, and an MBA for Executives from INSEAD in Paris, France.


“I’d like to thank Nick for his leadership of InTest over the last five years. He leaves InTest a larger and more diversified company than when he joined, serving marquee customers across an expanded range of end markets and with multiple growth initiatives in place,” said Joe Dews, Chairman of InTest. “The Board’s vision for InTest is to scale the business while realizing operating leverage to create shareholder value. In April of 2025 InTest established an Operating Efficiency Committee, which included Rich Rogoff, chartered to improve operational efficiency and drive operating leverage across InTest. To oversee this initiative Jeff Beck, who joined the InTest Board in 2019 after a distinguished operating career across both private equity and leading public companies including Ametek and Danaher, was named Vice Chairman of the InTest Board and designated the Board observer on the Operating Efficiency Committee. The leadership change we are announcing today follows a comprehensive process led by the Board during which we considered both internal and external candidates to implement our vision. We believe that Rich’s skill set and deep knowledge of InTest’s portfolio of businesses will enable him to drive both growth and increased profitability.”


About InTest Corporation


InTest Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including both the front-end and back-end of the semiconductor manufacturing industry (“Semi”), Automotive/EV, Defense/Aerospace, Industrial, Life Sciences and Safety/Security. Backed by decades of engineering expertise and a culture of operational excellence, InTest solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. InTest’s growth strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, customer penetration and market expansion. For more information, visit https://www.intest.com/.


Forward-Looking Statements


This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “believe,” “drive,” “increased,” “grow,” “will,” “plan,” “strategy,” “target,” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to manage transitions in executive leadership, execute on its strategy; realize the potential benefits of acquisitions and successfully integrate any acquired operations; grow the Company’s presence in its key target and international markets; manage supply chain challenges; convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including changes in U.S. and/or foreign trade policy, rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2024. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law. 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260401988555/en/
InTest Corporation

Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999
Investors:

Jody Burfening / Sanjay Hurry

Alliance Advisors IR

INTTIR@allianceadvisors.com

Tel: (212) 838-3777


Original: InTest Promotes Rich Rogoff to Chief Executive Officer

InTest Reports Q4 2025 EPS of $0.10 with Revenue of $32.8 Million Amidst Improving MomentumFebruary 27, 2026 6:15 AM
Business Wire

Orders1 of $37.5 million driven by continued strength in Auto/EV and Life Sciences; Backlog1 up 9.4% sequentially



Gross margin expanded 350 basis points sequentially to 45.4%



Nearly 80% of revenue derived from non-semiconductor end markets



Maintained balance sheet strength; reduced total debt by $7.6 million from December 31, 2024



InTest Corporation (NYSE American: INTT), a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets which include semiconductor (“Semi”), Auto/EV, Defense/Aerospace, Industrial, Life Sciences, and Safety/Security, today announced financial results for the fourth quarter of 2025 ended December 31, 2025.


“Orders remained strong at $37.5 million for the fourth quarter as Auto/EV customers moved forward with new model year programs coupled with the success we are seeing with the diversification in Life Sciences. We continue to see improved customer spending sentiment across our increasingly diversified markets. As a result, our 2025 year-end backlog was a healthy $53.9 million, an increase of 36% from December 31, 2024,” said Nick Grant, President and CEO.


“Revenue exceeded our guidance range and rebounded in the fourth quarter, reflecting the gradual recovery in customer capital spending we saw taking shape in the middle of the year, particularly in the Industrial and Defense/Aerospace end markets. We also benefited from the continued growing acceptance of new products and approximately $2 million in shipments which slipped out of the third quarter. Gross margin reached 45.4%, driven by manufacturing efficiency initiatives undertaken over the course of 2025 and a lift from sales of new products at Alfamation and Acculogic. Notably, we achieved this quarter’s gross margin level despite the sluggishness of our historically significant Semi business,” added Mr. Grant.


“Operationally, we continued to execute on our Vision 2030 Strategy that centers on driving long-term value through innovation, customer diversity and a broader global presence. We believe the success of our market diversification strategy, which has delivered approximately 20% compound average growth rate over the last five years, and our growing momentum with new products position InTest for sustainable profitable growth across multiple end markets.”


Fourth Quarter 2025 Review (see revenue by market and by segments in accompanying tables)




 






Three Months Ended








($ in thousands except percentages and per share data)






December 31,






 






December 31,






 






Change






 






September 30,






 






Change








 






2025






 






 






 






2024






 






 






$






 






%






 






 






2025






 






 






$






 






%








Revenue






$






32,822






 






 






$






36,603






 






 






$






(3,781






)






 






(10.3






%)






 






$






26,236






 






 






$






6,586






 






25.1






%








Gross profit






$






14,899






 






 






$






14,539






 






 






$






360






 






 






2.5






%






 






$






10,992






 






 






$






3,907






 






35.5






%








Gross margin






 






45.4






%






 






 






39.7






%






 






 






 






 






 






 






41.9






%






 






 






 






 








Operating expenses (including intangible amortization & restructuring)






$






13,623






 






 






$






12,460






 






 






$






1,163






 






 






9.3






%






 






$






12,185






 






 






$






1,438






 






11.8






%








Operating income (loss)






$






1,276






 






 






$






2,079






 






 






$






(803






)






 






(38.6






%)






 






$






(1,193






)






 






$






2,469






 






207.0






%








Operating margin






 






3.9






%






 






 






5.7






%






 






 






 






 






 






 






(4.5






%)






 






 






 






 








Net earnings (loss)






$






1,243






 






 






$






1,504






 






 






$






(261






)






 






(17.4






%)






 






$






(938






)






 






$






2,181






 






232.5






%








Net margin






 






3.8






%






 






 






4.1






%






 






 






 






 






 






 






(3.6






%)






 






 






 






 








Earnings (loss) per diluted share (“EPS”)






$






0.10






 






 






$






0.12






 






 






$






(0.02






)






 






(16.7






%)






 






$






(0.08






)






 






$






0.18






 






225.0






%








Adjusted net earnings (loss) (Non-GAAP)2






$






1,953






 






 






$






2,782






 






 






$






(829






)






 






(29.8






%)






 






$






(198






)






 






$






2,151






 






1,086.4






%








Adjusted EPS (Non-GAAP)2






$






0.16






 






 






$






0.23






 






 






$






(0.07






)






 






(30.4






%)






 






$






(0.02






)






 






$






0.18






 






900.0






%








Adjusted EBITDA (Non-GAAP)2






$






3,192






 






 






$






4,412






 






 






$






(1,220






)






 






(27.7






%)






 






$






383






 






 






$






2,809






 






733.4






%








Adjusted EBITDA margin (Non-GAAP)2






 






9.7






%






 






 






12.1






%






 






 






 






 






 






 






1.5






%






 






 






 






 







Revenue for the fourth quarter increased $6.6 million over the third quarter, driven by a gradually improving customer capital spending environment across most end-markets and approximately $2.0 million in shipments which slipped out of the third quarter. The net increase was due primarily to gains in Industrial, Defense/Aerospace and Life Sciences offset by continued weakness in Semi.


Compared with the prior-year period, fourth quarter revenue declined $3.8 million. The main drivers were decreases in Semi and Auto/EV sales that were partially mitigated by increases in Industrial and Life Sciences.


Sequentially, gross margin expanded by 350 basis points to 45.4%, driven by volume and favorable contributions from new Alfamation products. The 570-basis point increase compared with the prior-year reflects the negative 430 basis point impact from the acquisition inventory step-up in the prior year period, along with a favorable product mix from Alfamation and the benefits of cost-reduction actions taken throughout the year to improve manufacturing efficiencies.


Sequentially, operating expenses increased $1.4 million primarily due to higher sales commissions and marketing activity. Operating expenses increased $1.2 million from the prior-year period primarily from the impact of the $0.8 million amortization credit related to the finalization of acquisition accounting recognized in the prior year period, along with $0.2 million of current period restructuring costs.


Net income for the fourth quarter was $1.2 million, or $0.10 per diluted share. Adjusted net income (Non-GAAP)2 was $2.0 million, or $0.16 adjusted EPS (Non-GAAP)2.


Fiscal 2025 Review (see revenue by market and by segments in accompanying tables)




 






Year Ended








($ in thousands except percentages and per share data)






December 31,






 






December 31,






 






Change








 






2025






 






 






 






2024






 






 






$






 






%








Revenue






$






113,825






 






 






$






130,690






 






 






$






(16,865






)






 






(12.9






%)








Gross profit






$






48,920






 






 






$






55,424






 






 






$






(6,504






)






 






(11.7






%)








Gross margin






 






43.0






%






 






 






42.4






%






 






 






 






 








Operating expenses (including intangible amortization & restructuring)






$






52,645






 






 






$






52,030






 






 






$






615






 






 






1.2






%








Operating (loss) income






$






(3,725






)






 






$






3,394






 






 






$






(7,119






)






 






(209.8






%)








Operating margin






 






(3.3






%)






 






 






2.6






%






 






 






 






 








Net (loss) earnings






$






(2,527






)






 






$






2,891






 






 






$






(5,418






)






 






(187.4






%)








Net margin






 






(2.2






%)






 






 






2.2






%






 






 






 






 








(Loss) earnings per diluted share (“EPS”)






$






(0.21






)






 






$






0.24






 






 






$






(0.45






)






 






(187.5






%)








Adjusted net earnings (loss) (Non-GAAP)2






$






764






 






 






$






6,214






 






 






$






(5,450






)






 






(87.7






%)








Adjusted EPS (Non-GAAP)2






$






0.06






 






 






$






0.51






 






 






$






(0.45






)






 






(88.2






%)








Adjusted EBITDA (Non-GAAP)2






$






3,950






 






 






$






10,818






 






 






$






(6,868






)






 






(63.5






%)








Adjusted EBITDA margin (Non-GAAP)2






 






3.5






%






 






 






8.3






%






 






 






 






 







Compared with the prior year, 2025 revenue declined $16.9 million as a result of global economic and tariff uncertainties contributing to customer hesitancy in committing to capital projects against a backdrop of a prolonged analog/mixed-signal semiconductor market weakness. Decreases in Semi and Auto/EV revenue were offset partially by increases in Industrial and Life Sciences.


Full year 2025 gross margin increased 60 basis points to 43.0%. The full year 2024 gross margin included the negative 120 basis point impact from the acquisition inventory step-up as reported in the prior year period. Excluding the inventory step-up, gross margin decreased 60 basis points driven by lower volume.


Operating expenses increased $0.6 million from 2024 due to the full-year impact of Alfamation, and increases in restructuring and amortization of intangible assets that were offset partially by decreases from cost actions taken throughout the year.


Net loss for 2025 was $2.5 million, or $(0.21) per diluted share. Adjusted net income (Non-GAAP)2 was $0.8 million, or $0.06 adjusted EPS (Non-GAAP)2.


Balance Sheet and Cash Flow Review


Cash, cash equivalents and restricted cash at the end of the fourth quarter of 2025 was $18.1 million, down $3.0 million from the end of the third quarter. During the quarter, the Company reduced total debt by $1.4 million from September 30, 2025, to $7.5 million and used $1.0 million in operations. During 2025, we reduced total debt by $7.6 million and generated $7.3 million cash from operations. Capital expenditures were $0.5 million in the fourth quarter of 2025.


At December 31, 2025, the Company had $30.0 million available under its delayed draw term loan facility and no borrowings under the $10.0 million revolving credit facility. On August 5, 2025, the Company entered into a covenant waiver agreement with its U.S.-based lender through the first quarter of 2026 in exchange for pledging cash equal to U.S. debt outstanding. At December 31, 2025, there was $3.8 million U.S.-based debt outstanding.


Fourth Quarter 2025 Orders1 and Backlog1 (see orders by market in accompanying tables)




 






Three Months Ended








 






December 31,






 






December 31,






 






Change






 






September 30,






 






Change








($ in thousands except percentages)






2025






 






2024






 






$






 






%






 






2025






 






$






 






%








Orders






$






37,471






 






$






30,669






 






$






6,802






 






22.2






%






 






$






37,642






 






$






(171






)






 






(0.5






%)








Backlog (at quarter end)






$






53,916






 






$






39,520






 






$






14,396






 






36.4






%






 






$






49,267






 






$






4,649






 






 






9.4






%







Fourth quarter orders of $37.5 million were essentially flat sequentially and increased $6.8 million, or 22.2%, versus the prior-year period. Sequentially, lower Auto/EV, Industrial and Defense/Aerospace orders were offset by increases in Life Sciences and Semi. The year-over-year increase reflects strength in Auto/EV, Life Sciences, Defense/Aerospace and Safety/Security partially offset by the decline in Semi.


Backlog at December 31, 2025, was $53.9 million, an increase of 9.4% from the September 30, 2025, level, and increased 36.4% compared to December 31, 2024. Approximately 60% of the backlog is expected to ship beyond the first quarter of 2026.


Focusing Outlook on Forward Quarter and Fiscal 2026


Mr. Grant concluded, “For 2026, we project year-over-year growth supported by a healthy backlog, recovering customer capital spending trends, and contributions from our growing portfolio of highly valued engineered solutions. From discussions with customers, we anticipate a modest pick-up in demand from Semi customers in the second half of the year. Combined with a leaner cost structure, we believe InTest is well-positioned to sustain profitability throughout the year as we continue to execute our VISION 2030 Strategy of increased diversification as we scale the business.”


For Q1 26, InTest projects revenue to be $31 million to $33 million, with gross margin of approximately 44%, and operating expenses of $13.3 million to $13.7 million, reflecting typically higher levels in the first quarter. Amortization expense is expected to be $0.8 million.


For full year 2026, InTest expects revenue to be between $125 million to $130 million, with gross margin of approximately 45%, and operating expenses of $53 million to $55 million. Amortization expense is expected to be $2.6 million and interest expense of $0.3 million. The effective tax rate for the year is expected to be approximately 18%. Capital expenditures are estimated to be approximately 1% to 2% of revenue.


The foregoing guidance is based on management’s current views with respect to operating and market conditions and customers’ forecasts. Actual results may differ materially from what is provided here today as a result of, among other things, the factors described under “Forward-Looking Statements” below.


Conference Call and Webcast


The Company will host a conference call and webcast today at 8:30 a.m. ET. During the conference call, management will review the financial and operating results and discuss InTest’s corporate strategy and outlook. A question-and-answer session will follow. To listen to the live call, dial (877) 407-0792 or (201) 689-8263. In addition, the webcast and slide presentation may be found at intest.com/investor-relations.


A telephonic replay will be available from 12:30 p.m. ET on the day of the call through Friday, March 13, 2026. To listen to the archived call, dial (844) 512-2921 or (412) 317-6671 and enter replay pin number 13758476. The webcast replay can be accessed via the investor relations section of intest.com, where a transcript will also be posted once available.


About InTest Corporation


InTest Corporation is a global supplier of innovative test and process technology solutions for use in manufacturing and testing in key target markets including both the front-end and back-end of the semiconductor manufacturing industry (“Semi”), Automotive/EV, Defense/Aerospace, Industrial, Life Sciences and Safety/Security. Backed by decades of engineering expertise and a culture of operational excellence, InTest solves difficult thermal, mechanical, and electronic challenges for customers worldwide while generating strong cash flow and profits. InTest’s growth strategy leverages these strengths to grow organically and with acquisitions through the addition of innovative technologies, deeper and broader geographic reach, customer penetration and market expansion. For more information, visit https://www.intest.com/.


Non-GAAP Financial Measures


In addition to disclosing results that are determined in accordance with generally accepted accounting practices in the United States (“GAAP”), we also disclose non-GAAP financial measures. These non-GAAP financial measures consist of adjusted net earnings (loss), adjusted earnings (loss) per diluted share (“adjusted EPS”), adjusted EBITDA, and adjusted EBITDA margin.


The Company defines these non-GAAP measures as follows:



Adjusted net earnings (loss) is derived by adding acquired intangible amortization, acquired inventory step-up expense, restructuring costs, and the tax effect of the adjusting items, to net earnings (loss).



Adjusted earnings (loss) per diluted share is derived by dividing adjusted net earnings (loss) by diluted weighted average shares outstanding.



Adjusted EBITDA is derived by adding acquired intangible amortization, acquired inventory step-up expense, restructuring costs, net interest expense, income tax expense, depreciation, and stock-based compensation expense to net earnings.



Adjusted EBITDA margin is derived by dividing adjusted EBITDA by revenue.



These results are provided as a complement to the results provided in accordance with GAAP. Adjusted net earnings (loss) and adjusted earnings (loss) per diluted share (“adjusted EPS”) are non-GAAP financial measures presented to provide investors with meaningful, supplemental information regarding our baseline performance before acquired intangible amortization, restructuring costs and inventory step-up charges as management believes these expenses may not be indicative of our underlying operating performance. Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures presented primarily as a measure of liquidity as they exclude non-cash charges for acquired intangible amortization, acquired inventory step-up, depreciation and stock-based compensation. In addition, adjusted EBITDA and adjusted EBITDA margin also exclude the impact of restructuring costs, interest income or expense and income tax expense or benefit, as management believes these expenses may not be indicative of our underlying operating performance.


Management’s Use of Non-GAAP Measures


The non-GAAP financial measures presented in this press release are used by management to make operational decisions, to forecast future operational results, and for comparison with our business plan, historical operating results and the operating results of our peers. Reconciliations from net earnings (loss) and earnings (loss) per diluted share (“EPS”) to adjusted net earnings (loss) and adjusted earnings (loss) per diluted share (“adjusted EPS”) and from net earnings (loss) and net margin to adjusted EBITDA and adjusted EBITDA margin, are contained in the tables below.


Management believes these Non-GAAP financial measures are important in evaluating our performance, results of operations, and financial position. We use non-GAAP financial measures to supplement our GAAP results to provide a more complete understanding of the factors and trends affecting our business. Non-GAAP measures as presented in this press release may differ from and may not be comparable to similarly titled measures used by other companies.


Key Performance Indicators


In addition to the foregoing non-GAAP measures, management uses orders and backlog as key performance metrics to analyze and measure the Company’s financial performance and results of operations. Management uses orders and backlog as measures of current and future business and financial performance, and these may not be comparable with measures provided by other companies. Orders represent written communications received from customers requesting the Company to provide products and/or services. Backlog is calculated based on firm purchase orders we receive for which revenue has not yet been recognized. Management believes tracking orders and backlog are useful as they are often leading indicators of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer.


Given that each of orders and backlog are operational measures and that the Company’s methodology for calculating orders and backlog does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for each is not required or provided.


Forward-Looking Statements


This press release includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicted or potential future events and financial results, such as statements of the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “believe,” “continue,” “expects,” “guidance,” “may,” “outlook,” “will,” “plan,” “potential,” “forecasts,” “strategy,” “target,” “estimated,” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this press release as well as the Company’s ability to execute on its VISION 2030 Strategy; realize the potential benefits of acquisitions and successfully integrate any acquired operations; grow the Company’s presence in its key target and international markets; manage supply chain challenges; convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including changes in U.S. and/or foreign trade policy, rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2024, and any subsequent Quarterly Reports on Form 10-Q. Any forward-looking statement made by the Company in this press release is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this press release to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law.



_______________________________________


1 Orders and Backlog are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding InTest’s use of these metrics.


2 Adjusted net earnings (loss), adjusted EPS, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures that accompany this press release.


– FINANCIAL TABLES FOLLOW –




InTest Corporation




Consolidated Statements of Operations




(Unaudited)










 



 






Three Months Ended






 






Twelve Months Ended








 






December 31,






 






December 31,








(In thousands, except share and per share data)






 






2025






 






 






 






2024






 






 






 






2025






 






 






 






2024






 








Revenue






$






32,822






 






 






$






36,603






 






 






$






113,825






 






 






$






130,690






 








Cost of revenue






 






17,923






 






 






 






22,064






 






 






 






64,905






 






 






 






75,266






 








Gross profit






 






14,899






 






 






 






14,539






 






 






 






48,920






 






 






 






55,424






 








 






 






 






 






 






 






 






 








Operating expenses:






 






 






 






 






 






 






 








Selling expense






 






4,643






 






 






 






4,402






 






 






 






16,784






 






 






 






17,378






 








Engineering and product development expense






 






2,412






 






 






 






2,166






 






 






 






9,440






 






 






 






8,548






 








General and administrative expense






 






5,521






 






 






 






5,783






 






 






 






22,225






 






 






 






23,559






 








Amortization of acquired intangible assets






 






842






 






 






 






109






 






 






 






3,346






 






 






 






2,545






 








Restructuring costs






 






205






 






 






 






—






 






 






 






850






 






 






 






—






 








Total operating expenses






 






13,623






 






 






 






12,460






 






 






 






52,645






 






 






 






52,030






 








 






 






 






 






 






 






 






 








Operating income (loss)






 






1,276






 






 






 






2,079






 






 






 






(3,725






)






 






 






3,394






 








Interest expense






 






(84






)






 






 






(234






)






 






 






(450






)






 






 






(846






)








Other income (loss)






 






185






 






 






 






(43






)






 






 






953






 






 






 






906






 








 






 






 






 






 






 






 






 








Earnings (loss) before income tax expense (benefit)






 






1,377






 






 






 






1,802






 






 






 






(3,222






)






 






 






3,454






 








Income tax expense (benefit)






 






134






 






 






 






298






 






 






 






(695






)






 






 






563






 








 






 






 






 






 






 






 






 








Net earnings (loss)






$






1,243






 






 






$






1,504






 






 






$






(2,527






)






 






$






2,891






 








 






 






 






 






 






 






 






 








Earnings (loss) per common share:






 






 






 






 






 






 






 








Basic






$






0.10






 






 






$






0.12






 






 






$






(0.21






)






 






$






0.24






 








Diluted






$






0.10






 






 






$






0.12






 






 






$






(0.21






)






 






$






0.24






 








 






 






 






 






 






 






 






 








Weighted average common shares outstanding:






 






 






 






 






 






 






 








Basic






 






12,214,031






 






 






 






12,156,931






 






 






 






12,204,323






 






 






 






12,151,913






 








Diluted






 






12,277,491






 






 






 






12,216,344






 






 






 






12,204,323






 






 






 






12,239,158






 









InTest Corporation




Consolidated Balance Sheets










 



 






December 31,

2025






 






December 31,

2024








(In thousands, except share and per share data)






(Unaudited)






 






 








ASSETS






 






 






 








Current assets:






 






 






 








Cash and cash equivalents






$






14,216






 






 






$






19,830






 








Restricted cash






 






3,842






 






 






 






—






 








Trade accounts receivable, net of allowance for credit losses of $375 and $423, respectively






 






25,891






 






 






 






29,495






 








Inventories






 






31,580






 






 






 






26,837






 








Prepaid expenses and other current assets






 






3,109






 






 






 






2,650






 








Total current assets






 






78,638






 






 






 






78,812






 








Property and equipment, net of accumulated depreciation of $10,083 and $8,830, respectively






 






4,778






 






 






 






4,457






 








Right-of-use assets, net






 






9,098






 






 






 






10,767






 








Goodwill






 






32,359






 






 






 






30,744






 








Intangible assets, net






 






24,876






 






 






 






26,376






 








Deferred tax assets






 






775






 






 






 






67






 








Other assets






 






789






 






 






 






1,065






 








Total assets






$






151,313






 






 






$






152,288






 








 






 






 






 








LIABILITIES AND STOCKHOLDERS’ EQUITY






 






 






 








Current liabilities:






 






 






 








Current portion of long-term debt






$






6,062






 






 






$






7,494






 








Current portion of operating lease liabilities






 






2,098






 






 






 






1,989






 








Accounts payable






 






11,205






 






 






 






7,991






 








Customer deposits and deferred revenue






 






6,388






 






 






 






4,989






 








Accrued expenses and other current liabilities






 






10,002






 






 






 






9,485






 








Total current liabilities






 






35,755






 






 






 






31,948






 








Operating lease liabilities, net of current portion






 






7,402






 






 






 






9,021






 








Long-term debt, net of current portion






 






1,406






 






 






 






7,538






 








Contingent consideration, net of current portion






 






356






 






 






 






825






 








Deferred revenue, net of current portion






 






1,055






 






 






 






1,432






 








Other liabilities






 






1,716






 






 






 






1,734






 








Total liabilities






 






47,690






 






 






 






52,498






 








Commitments and Contingencies






 






 






 








Stockholders’ equity:






 






 






 








Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding






 






—






 






 






 






—






 








Common stock, $0.01 par value; 20,000,000 shares authorized; 12,570,865 and 12,457,658 shares issued, respectively; 12,488,788 and 12,378,276 shares outstanding, respectively






 






125






 






 






 






124






 








Additional paid-in capital






 






59,436






 






 






 






57,658






 








Retained earnings






 






42,560






 






 






 






45,087






 








Accumulated other comprehensive earnings (loss)






 






2,461






 






 






 






(2,137






)








Treasury stock, at cost; 82,077 and 79,382 shares, respectively






 






(959






)






 






 






(942






)








Total stockholders’ equity






 






103,623






 






 






 






99,790






 








Total liabilities and stockholders’ equity






$






151,313






 






 






$






152,288






 









InTest Corporation




Consolidated Statements of Cash Flows




(Unaudited)








 



 






Twelve Months Ended December 31,








(In thousands)






 






2025






 






 






 






2024






 








CASH FLOWS FROM OPERATING ACTIVITIES






 






 






 








Net (loss) earnings






$






(2,527






)






 






$






2,891






 








Adjustments to reconcile net (loss) earnings to net cash provided by operating activities:






 






 






 








Depreciation and amortization






 






6,796






 






 






 






5,392






 








Provision for excess and obsolete inventory






 






818






 






 






 






703






 








Amortization of deferred compensation related to stock-based awards






 






1,610






 






 






 






1,857






 








Deferred income tax expense






 






(1,032






)






 






 






(1,508






)








Other non-cash reconciling items






 






(344






)






 






 






295






 








Changes in assets and liabilities:






 






 






 








Trade accounts receivable






 






4,530






 






 






 






(5,505






)








Inventories






 






(4,167






)






 






 






4,903






 








Prepaid expenses and other current assets






 






331






 






 






 






903






 








Other assets






 






(197






)






 






 






(30






)








Operating lease liabilities






 






(2,077






)






 






 






(1,649






)








Accounts payable






 






3,154






 






 






 






(2,306






)








Customer deposits and deferred revenue






 






975






 






 






 






(1,389






)








Domestic and foreign income taxes payable






 






119






 






 






 






(1,369






)








Deferred revenue, net of current portion






 






(377






)






 






 






(16






)








Accrued expenses and other liabilities






 






(297






)






 






 






649






 








Net cash provided by operating activities






 






7,315






 






 






 






3,821






 








CASH FLOWS FROM INVESTING ACTIVITIES






 






 






 








Acquisition of business, net of cash acquired






 






—






 






 






 






(18,727






)








Purchases of property and equipment






 






(1,632






)






 






 






(1,324






)








Net cash used in investing activities






 






(1,632






)






 






 






(20,051






)








CASH FLOWS FROM FINANCING ACTIVITIES






 






 






 








Repurchases of common stock






 






—






 






 






 






(1,042






)








Repayments of short-term borrowings, net of proceeds






 






(4,254






)






 






 






(152






)








Repayments of long-term debt






 






(4,100






)






 






 






(7,689






)








Proceeds from stock options exercised






 






22






 






 






 






145






 








Proceeds from shares sold under Employee Stock Purchase Plan






 






124






 






 






 






138






 








Settlement of employee tax liabilities in connection with treasury stock transaction






 






(17






)






 






 






(41






)








Net cash used in financing activities






 






(8,225






)






 






 






(8,641






)








Effects of exchange rates on cash






 






770






 






 






 






(559






)








Net cash used in all activities






 






(1,772






)






 






 






(25,430






)








Cash, cash equivalents and restricted cash at beginning of period






 






19,830






 






 






 






45,260






 








Cash, cash equivalents and restricted cash at end of period






$






18,058






 






 






$






19,830






 








 






 






 






 








Cash and cash equivalents






$






14,216






 






 






$






19,830






 








Restricted cash






 






3,842






 






 






 






—






 








Total cash, cash equivalents and restricted cash at end of period






$






18,058






 






 






$






19,830






 








 






 






 






 








Cash payments for:






 






 






 








Domestic and foreign income taxes, net of receipts






$






193






 






 






$






3,072






 








Interest






 






456






 






 






 






881






 








 






 






 






 








SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES






 






 






 








Equity issued in conjunction with acquisition of business






$






—






 






 






$






2,086






 








Issuance of unvested shares of restricted stock awards






 






1,039






 






 






 






1,580






 








Forfeiture of shares of unvested restricted stock awards






 






(557






)






 






 






(200






)









InTest Corporation




Revenue by Market




(Unaudited)








 



($ in thousands)






Three Months Ended








 






December 31,






 






December 31,






 






Change






 






September 30,






 






Change








 






2025






 






2024






 






$






 






%






 






2025






 






$






 






%








Revenue






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Semi






$






6,941






 






21.1






%






 






$






12,207






 






33.3






%






 






$






(5,266






)






 






(43.1






%)






 






$






9,842






 






37.5






%






 






$






(2,901






)






 






(29.5






%)








Auto/EV






 






5,933






 






18.1






%






 






 






11,928






 






32.6






%






 






 






(5,995






)






 






(50.3






%)






 






 






4,964






 






18.9






%






 






 






969






 






 






19.5






%








Defense/Aerospace






 






5,537






 






16.9






%






 






 






5,157






 






14.1






%






 






 






380






 






 






7.4






%






 






 






2,313






 






8.8






%






 






 






3,224






 






 






139.4






%








Industrial






 






6,937






 






21.1






%






 






 






2,246






 






6.1






%






 






 






4,691






 






 






208.9






%






 






 






3,658






 






13.9






%






 






 






3,279






 






 






89.6






%








Life Sciences






 






4,043






 






12.3






%






 






 






1,231






 






3.4






%






 






 






2,812






 






 






228.4






%






 






 






1,930






 






7.4






%






 






 






2,113






 






 






109.5






%








Safety/Security






 






503






 






1.5






%






 






 






947






 






2.6






%






 






 






(444






)






 






(46.9






%)






 






 






927






 






3.5






%






 






 






(424






)






 






(45.7






%)








Other






 






2,928






 






8.9






%






 






 






2,887






 






7.9






%






 






 






41






 






 






1.4






%






 






 






2,602






 






9.9






%






 






 






326






 






 






12.5






%








 






$






32,822






 






100.0






%






 






$






36,603






 






100.0






%






 






$






(3,781






)






 






(10.3






%)






 






$






26,236






 






100.0






%






 






$






6,586






 






 






25.1






%







 



* Components may not add up to total due to rounding









($ in thousands)






Twelve Months Ended








 






December 31,






 






December 31,






 






Change








 






2025






 






2024






 






$






 






%








Revenue






 






 






 






 






 






 






 






 






 






 






 








Semi






$






35,970






 






31.6






%






 






$






48,708






 






37.3






%






 






$






(12,738






)






 






(26.2






%)








Auto/EV






 






22,718






 






20.0






%






 






 






32,871






 






25.2






%






 






 






(10,153






)






 






(30.9






%)








Defense/Aerospace






 






14,256






 






12.5






%






 






 






15,317






 






11.7






%






 






 






(1,061






)






 






(6.9






%)








Industrial






 






17,402






 






15.3






%






 






 






13,382






 






10.2






%






 






 






4,020






 






 






30.0






%








Life Sciences






 






9,047






 






7.9






%






 






 






5,400






 






4.1






%






 






 






3,647






 






 






67.5






%








Safety/Security






 






2,892






 






2.5






%






 






 






2,946






 






2.3






%






 






 






(54






)






 






(1.8






%)








Other






 






11,540






 






10.1






%






 






 






12,066






 






9.2






%






 






 






(526






)






 






(4.4






%)








 






$






113,825






 






100.0






%






 






$






130,690






 






100.0






%






 






$






(16,865






)






 






(12.9






%)







 



* Components may not add up to total due to rounding









Orders by Market




(Unaudited)








 



($ in thousands)






Three Months Ended








 






December 31,






 






December 31,






 






Change






 






September 30,






 






Change








 






2025






 






2024






 






$






 






%






 






2025






 






$






 






%








Orders






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 






 








Semi






$






9,446






 






25.2






%






 






$






15,647






 






51.0






%






 






$






(6,201






)






 






(39.6






%)






 






$






8,031






 






21.3






%






 






$






1,415






 






 






17.6






%








Auto/EV






 






9,857






 






26.3






%






 






 






3,487






 






11.4






%






 






 






6,370






 






 






182.7






%






 






 






14,580






 






38.7






%






 






 






(4,723






)






 






(32.4






%)








Defense/Aerospace






 






5,232






 






14.0






%






 






 






3,896






 






12.7






%






 






 






1,336






 






 






34.3






%






 






 






6,403






 






17.0






%






 






 






(1,171






)






 






(18.3






%)








Industrial






 






3,305






 






8.8






%






 






 






2,450






 






8.0






%






 






 






855






 






 






34.9






%






 






 






4,670






 






12.4






%






 






 






(1,365






)






 






(29.2






%)








Life Sciences






 






5,379






 






14.4






%






 






 






2,346






 






7.6






%






 






 






3,033






 






 






129.3






%






 






 






1,450






 






3.9






%






 






 






3,929






 






 






271.0






%








Safety/Security






 






1,087






 






2.9






%






 






 






54






 






0.2






%






 






 






1,033






 






 






1,913.0






%






 






 






267






 






0.7






%






 






 






820






 






 






307.1






%








Other






 






3,165






 






8.4






%






 






 






2,789






 






9.1






%






 






 






376






 






 






13.5






%






 






 






2,241






 






6.0






%






 






 






924






 






 






41.2






%








 






$






37,471






 






100.0






%






 






$






30,669






 






100.0






%






 






$






6,802






 






 






22.2






%






 






$






37,642






 






100.0






%






 






$






(171






)






 






(0.5






%)







 



* Components may not add up to total due to rounding









($ in thousands)






Twelve Months Ended








 






December 31,






 






December 31,






 






Change








 






2025






 






2024






 






$






 






%








Orders






 






 






 






 






 






 






 






 






 






 






 








Semi






$






34,409






 






26.8






%






 






$






44,574






 






41.4






%






 






$






(10,165






)






 






(22.8






%)








Auto/EV






 






36,564






 






28.5






%






 






 






19,390






 






18.0






%






 






 






17,174






 






 






88.6






%








Defense/Aerospace






 






16,217






 






12.6






%






 






 






13,715






 






12.7






%






 






 






2,502






 






 






18.2






%








Industrial






 






17,206






 






13.4






%






 






 






11,265






 






10.5






%






 






 






5,941






 






 






52.7






%








Life Sciences






 






10,924






 






8.5






%






 






 






4,603






 






4.3






%






 






 






6,321






 






 






137.3






%








Safety/Security






 






3,202






 






2.5






%






 






 






1,237






 






1.1






%






 






 






1,965






 






 






158.9






%








Other






 






9,699






 






7.6






%






 






 






12,920






 






12.0






%






 






 






(3,221






)






 






(24.9






%)








 






$






128,221






 






100.0






%






 






$






107,704






 






100.0






%






 






$






20,517






 






 






19.0






%







 



* Components may not add up to total due to rounding









InTest Corporation




Segment Data




(Unaudited)








 



 






Three Months Ended December 31, 2025








($ in thousands)






Electronic Test






 






Environmental Technologies






 






Process




Technologies






 






Corporate &




Other






 






Consolidated








Revenue






$






17,103






 






$






8,321






 






$






7,398






 






 






$






—






 






 






$






32,822






 








Cost of revenue






 






8,537






 






 






5,041






 






 






4,345






 






 






 






—






 






 






 






17,923






 








Other divisional costs






 






4,983






 






 






2,461






 






 






3,130






 






 






 






—






 






 






 






10,574






 








Division operating income (loss)






 






3,583






 






 






819






 






 






(77






)






 






 






—






 






 






 






4,325






 








Acquired intangible amortization






 






 






 






 






 






 






 






842






 






 






 






842






 








Restructuring costs






 






 






 






 






 






 






 






205






 






 






 






205






 








Corporate expenses






 






 






 






 






 






 






 






2,002






 






 






 






2,002






 








Operating income (loss)






 






3,583






 






 






819






 






 






(77






)






 






 






(3,049






)






 






 






1,276






 








Interest expense






 






 






 






 






 






 






 






(84






)






 






 






(84






)








Other income






 






 






 






 






 






 






 






185






 






 






 






185






 








Earnings (loss) before income tax expense






$






3,583






 






$






819






 






$






(77






)






 






$






(2,948






)






 






$






1,377






 









 






Three Months Ended December 31, 2024








($ in thousands)






Electronic Test






 






Environmental Technologies






 






Process




Technologies






 






Corporate &




Other






 






Consolidated








Revenue






$






21,122






 






$






7,063






 






$






8,418






 






$






—






 






 






$






36,603






 








Cost of revenue






 






12,974






 






 






4,196






 






 






4,894






 






 






—






 






 






 






22,064






 








Other divisional costs






 






5,283






 






 






2,185






 






 






2,553






 






 






—






 






 






 






10,021






 








Division operating income






 






2,865






 






 






682






 






 






971






 






 






—






 






 






 






4,518






 








Acquired intangible amortization






 






 






 






 






 






 






 






109






 






 






 






109






 








Corporate expenses






 






 






 






 






 






 






 






2,330






 






 






 






2,330






 








Operating income (loss)






 






2,865






 






 






682






 






 






971






 






 






(2,439






)






 






 






2,079






 








Interest expense






 






 






 






 






 






 






 






(234






)






 






 






(234






)








Other expense






 






 






 






 






 






 






 






(43






)






 






 






(43






)








Earnings (loss) before income tax expense






$






2,865






 






$






682






 






$






971






 






$






(2,716






)






 






$






1,802






 









InTest Corporation




Segment Data




(Unaudited)








 



 






Twelve Months Ended December 31, 2025








($ in thousands)






Electronic Test






 






Environmental Technologies






 






Process




Technologies






 






Corporate &




Other






 






Consolidated








Revenue






$






56,194






 






$






29,294






 






$






28,337






 






$






—






 






 






$






113,825






 








Cost of revenue






 






29,766






 






 






18,304






 






 






16,835






 






 






—






 






 






 






64,905






 








Other divisional costs






 






19,458






 






 






9,035






 






 






11,071






 






 






—






 






 






 






39,564






 








Division operating income






 






6,970






 






 






1,955






 






 






431






 






 






—






 






 






 






9,356






 








Acquired intangible amortization






 






 






 






 






 






 






 






3,346






 






 






 






3,346






 








Restructuring costs






 






 






 






 






 






 






 






850






 






 






 






850






 








Corporate expenses






 






 






 






 






 






 






 






8,885






 






 






 






8,885






 








Operating (loss) income






 






6,970






 






 






1,955






 






 






431






 






 






(13,081






)






 






 






(3,725






)








Interest expense






 






 






 






 






 






 






 






(450






)






 






 






(450






)








Other income






 






 






 






 






 






 






 






953






 






 






 






953






 








(Loss) earnings before income tax expense






$






6,970






 






$






1,955






 






$






431






 






$






(12,578






)






 






$






(3,222






)









 






Twelve Months Ended December 31, 2024








($ in thousands)






Electronic Test






 






Environmental Technologies






 






Process




Technologies






 






Corporate &




Other






 






Consolidated








Revenue






$






63,878






 






$






28,898






 






$






37,914






 






$






—






 






 






$






130,690






 








Cost of revenue






 






35,843






 






 






17,780






 






 






21,643






 






 






—






 






 






 






75,266






 








Other divisional costs






 






19,303






 






 






9,002






 






 






11,299






 






 






—






 






 






 






39,604






 








Division operating income






 






8,732






 






 






2,116






 






 






4,972






 






 






—






 






 






 






15,820






 








Acquired intangible amortization






 






 






 






 






 






 






 






2,545






 






 






 






2,545






 








Corporate expenses






 






 






 






 






 






 






 






9,881






 






 






 






9,881






 








Operating income (loss)






 






8,732






 






 






2,116






 






 






4,972






 






 






(12,426






)






 






 






3,394






 








Interest expense






 






 






 






 






 






 






 






(846






)






 






 






(846






)








Other income






 






 






 






 






 






 






 






906






 






 






 






906






 








Earnings (loss) before income tax expense






$






8,732






 






$






2,116






 






$






4,972






 






$






(12,366






)






 






$






3,454






 









InTest Corporation




Reconciliation of Non-GAAP Financial Measures




(Unaudited) 







 



Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Loss) (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted EPS (Non-GAAP):








 



 






Three Months Ended








 






December 31,






 






December 31,






 






September 30,








(in thousands except per share amounts)






 






2025






 






 






 






2024






 






 






 






2025






 








Net earnings (loss)






$






1,243






 






 






$






1,504






 






 






$






(938






)








Acquired intangible amortization






 






842






 






 






 






109






 






 






 






841






 








Acquired inventory step-up






 






—






 






 






 






1,570






 






 






 






—






 








Restructuring costs






 






205






 






 






 






—






 






 






 






116






 








Tax effect of adjusting items






 






(337






)






 






 






(401






)






 






 






(217






)








Adjusted net earnings (loss) (Non-GAAP)






$






1,953






 






 






$






2,782






 






 






$






(198






)








Diluted weighted average shares outstanding






 






12,277






 






 






 






12,216






 






 






 






12,209






 








Earnings (loss) per diluted share:






 






 






 






 






 








Net earnings (loss)






$






0.10






 






 






$






0.12






 






 






$






(0.08






)








Acquired intangible amortization






 






0.07






 






 






 






0.01






 






 






 






0.07






 








Acquired inventory step-up






 






—






 






 






 






0.13






 






 






 






—






 








Restructuring costs






 






0.02






 






 






 






—






 






 






 






0.01






 








Tax effect of adjusting items






 






(0.03






)






 






 






(0.03






)






 






 






(0.02






)








Adjusted EPS (Non-GAAP) *






$






0.16






 






 






$






0.23






 






 






$






(0.02






)


















 



* Components may not add up to total due to rounding









 






Twelve Months Ended








 






December 31,








(in thousands except per share amounts)






 






2025






 






 






 






2024






 








Net (loss) earnings






$






(2,527






)






 






$






2,891






 








Acquired intangible amortization






 






3,346






 






 






 






2,545






 








Acquired inventory step-up






 






—






 






 






 






1,570






 








Restructuring costs






 






850






 






 






 






—






 








Tax effect of adjusting items






 






(905






)






 






 






(792






)








Adjusted net earnings (Non-GAAP)






$






764






 






 






$






6,214






 








Diluted weighted average shares outstanding






 






12,256






 






 






 






12,239






 








(Loss) earnings per diluted share:






 






 






 








Net (loss) earnings






$






(0.21






)






 






$






0.24






 








Acquired intangible amortization






 






0.27






 






 






 






0.21






 








Acquired inventory step-up






 






—






 






 






 






0.13






 








Restructuring costs






 






0.07






 






 






 






—






 








Tax effect of adjusting items






 






(0.07






)






 






 






(0.07






)








Adjusted EPS (Non-GAAP) *






$






0.06






 






 






$






0.51






 














 



* Components may not add up to total due to rounding









Reconciliation of Net Earnings (Loss) and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP):








 



 






Three Months Ended








 






December 31,






 






December 31,






 






September 30,








(in thousands except percentage data)






 






2025






 






 






 






2024






 






 






 






2025






 








Net earnings (loss)






$






1,243






 






 






$






1,504






 






 






$






(938






)








Acquired intangible amortization






 






842






 






 






 






109






 






 






 






841






 








Acquired inventory step-up






 






—






 






 






 






1,570






 






 






 






—






 








Net interest (income) expense






 






(8






)






 






 






109






 






 






 






(18






)








Income tax expense (benefit)






 






134






 






 






 






298






 






 






 






(289






)








Depreciation






 






378






 






 






 






415






 






 






 






317






 








Restructuring costs






 






205






 






 






 






—






 






 






 






116






 








Stock-based compensation






 






398






 






 






 






407






 






 






 






354






 








Adjusted EBITDA (Non-GAAP)






$






3,192






 






 






$






4,412






 






 






$






383






 








Revenue






$






32,822






 






 






$






36,603






 






 






$






26,236






 








Net margin






 






3.8






%






 






 






4.1






%






 






 






(3.6






%)








Adjusted EBITDA margin (Non-GAAP)






 






9.7






%






 






 






12.1






%






 






 






1.5






%









 






Twelve Months Ended








 






December 31,






 






December 31,








(in thousands except percentage data)






 






2025






 






 






 






2024






 








Net (loss) earnings






$






(2,527






)






 






$






2,891






 








Acquired intangible amortization






 






3,346






 






 






 






2,545






 








Acquired inventory step-up






 






—






 






 






 






1,570






 








Net interest expense (income)






 






41






 






 






 






(7






)








Income tax (benefit) expense






 






(695






)






 






 






563






 








Depreciation






 






1,325






 






 






 






1,399






 








Restructuring costs






 






850






 






 






 






—






 








Stock-based compensation






 






1,610






 






 






 






1,857






 








Adjusted EBITDA (Non-GAAP)






$






3,950






 






 






$






10,818






 








Revenue






$






113,825






 






 






$






130,690






 








Net margin






 






(2.2






%)






 






 






2.2






%








Adjusted EBITDA margin (Non-GAAP)






 






3.5






%






 






 






8.3






%







 

View source version on businesswire.com: https://www.businesswire.com/news/home/20260227740507/en/
InTest Corporation

Duncan Gilmour

Chief Financial Officer and Treasurer

Tel: (856) 505-8999
Investors:

Jody Burfening / Sanjay Hurry

Alliance Advisors IR

INTTIR@allianceadvisors.com

Tel: (212) 838-3777


Original: InTest Reports Q4 2025 EPS of $0.10 with Revenue of $32.8 Million Amidst Improving Momentum