inTEST (INTT) Q3 2026 earnings summary

Executive summary

• Q3 revenue rose 33.7% YoY to $35.1M; net earnings were $1.9M versus a $0.9M loss, and gross margin was 47.7%.

• Record orders of $49.4M lifted backlog to $59.7M, driven by Semi and back-end test demand; ~60% of backlog is expected to ship in 2027.

• Strengthening Semi demand and 2–3 quarters of order visibility support a solid start to 2027.

Financial highlights

• Gross profit rose 52.1% YoY to $16.7M; operating income was $2.7M versus an operating loss of $1.2M a year earlier.

• Adjusted net earnings were $2.3M and adjusted EPS was $0.18, versus adjusted net loss of $0.2M and adjusted EPS of $(0.02) in Q3 2025.

• Adjusted EBITDA was $4.4M, or 12.6% of revenue, versus $0.4M and 1.5% YoY.

• Operating expenses were $14.0M, up 14.8% YoY; OpEx was 39.9% of revenue versus 46.4% a year earlier.

• 9M revenue increased 28.7% to $104.3M; net earnings were $2.5M versus a $3.8M loss.

Outlook and guidance

• Q4 guidance: revenue $34M–$36M, gross margin ~45%, operating expenses $14.2M–$14.7M, including $0.5M amortization.

• Guidance excludes potential acquisitions, restructuring and related costs, and assumes unchanged macroeconomic conditions through year-end.

• Much of Q3 Semi order intake is expected to convert to revenue in H1 2027; ~60% of backlog is expected to ship in 2027.

• The Q4 order funnel was roughly comparable to its level entering Q3; management expects continued order momentum and Semi strength into early 2027.