inTEST (INTT) Conference presentation summary

Q3 and FY 2026 outlook

• Q3 orders preliminarily expected at a record $48M-$50M, up 28%-33% YoY; book-to-bill above 1.3x, led by record back-end semiconductor orders.

• Q3 revenue preliminarily expected at $33M-$35M, with FY 2026 revenue expected at the high end of the $135M-$140M guidance range.

• Backlog at Sept. 30 preliminarily expected at $58M-$60M, up 28%-32% QoQ from $45.4M at June 30.

• August guidance: FY 2026 revenue of $135M-$140M, 43% gross margin, $55M-$57M operating expenses and ~18% effective tax rate; excludes potential acquisitions and restructuring costs.

• Management linked stronger semiconductor demand to capacity expansions fueled in part by AI-driven data center demand.

Q2 2026 performance

• Revenue was $35.3M, up 26% YoY and 4% QoQ; 74% came from non-semiconductor markets.

• Orders were $28.9M, up 4% YoY and down 9% QoQ; semiconductor orders rose 64% YoY, while Auto/EV orders fell 67% QoQ.

• Backlog was $45.4M at June 30, up 20% YoY and down 12% QoQ, reflecting normalization from the prior Auto/EV peak.

• Gross margin was 40.5%, down 280 bps QoQ and 210 bps YoY, reflecting a mix shift toward higher-volume, lower-margin Auto/EV revenue.

• Net earnings were $0.5M; adjusted EBITDA was $2.2M, with a 6.2% adjusted EBITDA margin.

Strategy and markets

• Growth priorities include higher-margin semiconductor, defense/aerospace and Auto/EV markets, deeper strategic-account penetration, cross-selling and expanded channel coverage.

• Three divisions span electronic test, environmental technologies and process technologies, serving semiconductor, automotive/EV, defense/aerospace, industrial, life sciences and safety/security markets.

• Product focus includes flying-probe testing, precision temperature-control solutions, induction heating and edge AI imaging systems.

• Global manufacturing expansion includes a shared Malaysia site to support an in-region, for-the-region strategy, alongside efforts to strengthen European presence.