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TechPrecision (TPCS) investor relations material
TechPrecision Q1 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q1 2026 earnings summary21 Aug, 2025
Executive summary
Revenue for Q1 FY2026 was $7.4M, down 8% year-over-year, with both Ranor and Stadco experiencing modest declines in sales volume.
Gross margin improved to 14% from 3% year-over-year, with gross profit rising to $1M, driven by better overhead absorption and production efficiencies.
Net loss narrowed to $0.6M ($0.06 per share), down from $1.5M in the prior year, reflecting improved margins and lower operating losses at Stadco.
Backlog reached a record $50.1M as of June 30, 2025, with strong customer confidence and expected delivery over the next one to three years.
Substantial doubt exists about the ability to continue as a going concern due to recurring losses at Stadco, debt covenant violations, and the need to renew or replace the revolver loan by August 29, 2025.
Financial highlights
Consolidated cost of revenue decreased 18% to $6.3M, reflecting productivity gains.
SG&A expenses fell 6% year-over-year, mainly due to the absence of a prior-year breakup fee.
EBITDA improved by $0.9M year-over-year, reaching $0.2M.
Cash and cash equivalents at quarter-end were $143K, with total available liquidity of $1.86M.
Total debt declined to $5.8M from $7.4M sequentially; all debt is classified as current due to covenant violations.
Outlook and guidance
Management expects to deliver the $50.1M backlog over the next one to three years, with anticipated gross margin expansion.
Ongoing focus on renegotiating legacy contracts, especially at Stadco, with 35-40% already addressed and improved.
The company must renew its revolver loan or secure alternative financing by August 29, 2025, to continue operations.
New business pursuits in air and submarine defense are expected to drive future growth, with potential for a third of revenue from new programs in 2-3 years.
Plans to improve Stadco's profitability and manufacturing efficiency, and to closely monitor and potentially reduce operating costs.
Debt covenant waiver and financing update?
Stadco profitability plan and timeline?
Internal control material weakness remediation?
Stadco's path to consistent profitability?
How to achieve $70M-$100M revenue target?
Plan to implement second shift operations?
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Next TechPrecision earnings date
Q2 202617 Nov, 2025
Next TechPrecision earnings date
Q2 202617 Nov, 2025
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Frequently asked questions
TechPrecision Corp is a company that specializes in the manufacture and sale of precision, fabricated, and machined metal structural components and systems within the United States. The company's operations are divided into two main segments, Ranor and Stadco, focusing on delivering custom components across various sectors. TechPrecision's products are utilized in defense, aerospace, nuclear, medical, and precision industrial markets, showcasing its capability to provide solutions for ships, submarines, military helicopters, aerospace equipment, components for nuclear power plants, and medical systems. TechPrecision Corp is headquartered in Westminster, Massachusetts, and its shares are listed on the OTCMKTS under the ticker symbol TPCS.
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