INTT
inTEST Corporation7.22
-0.17-2.3%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q4 '25
Cautious semi, auto/life sci details
Q&A elaborated on conservative 2026 semi outlook, baking in only modest recovery without banking on a strong rebound, yet management stressed prime positioning in back-end test automation and SiC/GaN front-end crystal growth. Auto orders surged from 2027 model-year programs kicking off, fueling Alphamation's recent strength now expected to moderate. Life sciences popped with med-tech wins across glucometers, Archaeologic apps, and induction heating. Gross margins could top 45% if back-end semi revives. Bookings remain healthy quarter-to-date. Semi stays sidelined. Cautiously optimistic tone; watch auto durability and semi signals.
Key Stats
Market Cap
90.13MP/E (TTM)
-Basic EPS (TTM)
-0.18Dividend Yield
0%Recent Filings
8-K
Exec comp frozen at 2025 levels
InTest Corporation froze CEO Richard Grant's base salary at $428,915 and CFO Duncan Gilmour's at $282,500 for 2026, matching 2025 levels. Both received 2026 bonus targets of 85% and 65% of base, respectively, plus $600,000 and $250,000 long-term incentives split evenly across time-vested RSUs, performance-vested RSUs tied to 2028 enterprise value, and stock options vesting over 3-4 years. Equity grants await the 2025 10-K filing.
8-K
Q4 rebound, strong backlog
InTest posted Q4 revenue of $32.8M, up 25% sequentially yet down 10% year-over-year, with gross margin surging to 45.4% on manufacturing efficiencies and new products. Orders hit $37.5M; backlog climbed 9% to $53.9M, fueled by Auto/EV and Life Sciences strength despite Semi weakness. Debt fell $7.6M. Guides 2026 revenue to $125M-$130M. Backlog signals growth.
10-Q
Q3 FY2025 results
InTest posted Q3 revenue of $26.2M, down 13% y/y yet holding 42% gross margin amid cost cuts. Operating loss hit $1.2M versus prior profit, driven by restructuring ($116K) and $841K intangible amortization; net loss $0.9M or $(0.08) per share matches diluted shares of 12.2M with anti-dilution. YTD revenue fell 14% to $81M, operating loss $5M, but operating cash flow surged to $8.3M and free cash flow $7.2M (derived) on receivable collections. Cash sits at $16.2M plus $4.9M restricted; total debt $8.9M with covenant waiver through Q1 2026. Backlog climbed to $49M. Semi cycles weigh heavy.
8-K
Orders surge 34%, revenue dips
InTest posted Q3 revenue of $26.2M, down 13.3% year-over-year from shipment delays now resolved, yet orders exploded 34.2% to $37.6M on auto/EV and defense/aerospace strength. Backlog swelled 30.1% to $49.3M; generated $3.5M operating cash while cutting debt $6.2M YTD. Orders signal recovery. Q4 revenue seen at $30M-$32M.
10-Q
Q2 FY2025 results
InTest Corporation's Q2 FY2025 revenue fell 17.2% y/y to $28.1M, with declines across all segments led by Process Technologies down 24.9%, yet gross margin expanded to 42.6% from 40.6% on favorable mix and cost controls. Operating loss widened to $0.9M from income of $0.3M, driven by restructuring costs of $0.2M and higher engineering spend, while net loss was $0.5M versus earnings of $0.2M, the gap mainly from amortization of acquired intangibles. YTD revenue dropped 14.2% y/y to $54.8M, with operating loss of $3.8M versus income of $0.8M and net loss of $2.8M against earnings of $0.9M; diluted EPS of $(0.23) reconciles to 12.2M weighted shares with anti-dilutive effects excluding 0.8M equivalents. Cash held steady at $19.2M with operating cash flow of $4.8M YTD, free cash flow not disclosed in the 10-Q; total debt fell to $10.1M including $4.2M Alfamation term loans (weighted rate 3.2%) and $5.9M M&T term note (rates 3.2%-6.6%), with $10M revolver available but discretionary through Q1 FY2026 under covenant waiver. The March 2024 Alfamation acquisition closed for $21.9M (cash/stock), adding $9.9M goodwill and $11.4M finite-lived intangibles (weighted life 15.5 years) to deepen auto/EV and life sciences exposure. Backlog stands at $37.9M. Cyclical semi demand remains a key risk.
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