InTest Reports Record Quarterly Orders of $49.4 Million and EPS of $0.15 on 34% Revenue Growth and 47.7% Gross Margin

Semiconductor orders more than tripled year over year, with much of the quarterly intake expected to become revenue in early 2027.

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• Revenue of $35.1 million, up 34% year-over-year
• Net earnings of $1.9 million, or $0.15 per diluted share, vs. net loss of $0.9 million, or $(0.08) per diluted share, in the prior-year period
• Adjusted EPS (Non-GAAP)¹ of $0.18 vs. $(0.02); Adjusted EBITDA (Non-GAAP)¹ of $4.4 million vs. $0.4 million
• Orders² up 31% to a record $49.4 million, led by record back-end Semi orders
• Backlog² of $59.7 million, up 21% year-over-year

MT. LAUREL, N.J.--(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”), Auto/EV, Defense/Aerospace, Industrial, Life Sciences, and Safety/Security, today announced financial results for the third quarter of 2026 ended September 30, 2026.

“The third quarter demonstrated the earnings power of our business model when demand, mix, and execution line up,” stated Richard Rogoff, president and CEO. “Demand for back-end semiconductor testing picked up in the quarter, as we expected, driven by customers adding capacity for power, analog, and mixed-signal devices, with new products capturing a meaningful portion of our new orders. At the same time, continued electronification is expanding our opportunities for our test equipment. As advanced processors and electronics run hotter and grow more complex, we believe customer interest in our high-powered chillers and other advanced test products is increasing. Together, we believe these secular trends are enlarging all the markets we serve, and our portfolio is aligned with where demand is heading.

“Orders² reached a record $49.4 million in the quarter, well ahead of revenue and lifting backlog to $59.7 million, as lead times for test equipment lengthened and customers placed orders earlier,” continued Mr. Rogoff. “Auto/EV orders more than doubled sequentially and Defense/Aerospace orders rose more than 40%, providing us with powerful new opportunities to tap.”

Third Quarter 2026 Review (see revenue by market and by segments in accompanying tables)

	Three Months Ended
($ in thousands except percentages and per share data)	September 30,				September 30,				Change						June 30,				Change
	2026				2025				$			%			2026				$				%
Revenue	$	35,069			$	26,236			$	8,833		33.7	%		$	35,313			$	(244	)		(0.7	%)
Gross profit	$	16,721			$	10,992			$	5,729		52.1	%		$	14,298			$	2,423			16.9	%
Gross margin		47.7	%			41.9	%									40.5	%
Operating expenses (including intangible amortization & restructuring)	$	13,994			$	12,185			$	1,809		14.8	%		$	13,935			$	59			0.4	%
Operating income (loss)	$	2,727			$	(1,193	)		$	3,920		328.6	%		$	363			$	2,364			651.2	%
Operating margin		7.8	%			(4.5	%)									1.0	%
Net earnings (loss)	$	1,856			$	(938	)		$	2,794		297.9	%		$	474			$	1,382			291.6	%
Net margin		5.3	%			(3.6	%)									1.3	%
Earnings (loss) per diluted share (“EPS”)	$	0.15			$	(0.08	)		$	0.23		287.5	%		$	0.04			$	0.11			275.0	%
Adjusted net earnings (Non-GAAP)1	$	2,290			$	(198	)		$	2,488		1256.6	%		$	1,091			$	1,199			109.9	%
Adjusted EPS (Non-GAAP)1	$	0.18			$	(0.02	)		$	0.20		1000.0	%		$	0.09			$	0.09			100.0	%
Adjusted EBITDA (Non-GAAP)1	$	4,420			$	383			$	4,037		1054.0	%		$	2,192			$	2,228			101.6	%
Adjusted EBITDA margin (Non-GAAP)1		12.6	%			1.5	%									6.2	%

Revenue for the third quarter was essentially flat sequentially, down $0.2 million, or 0.7%. Higher Defense/Aerospace, Semi and Industrial revenue largely offset a $6.8 million decline in Auto/EV. Compared to the prior-year period, third quarter revenue increased $8.8 million, or 33.7%. Defense/Aerospace, Semi, Auto/EV and Industrial accounted for $9.9 million of the increase. Life Sciences was the primary offset, down $0.7 million.

Gross margin increased by 720 basis points sequentially to 47.7%, reflecting a shift in product mix toward higher-margin Semi revenue. Compared to the prior-year period, gross margin increased 580 basis points reflecting improvement across all three operating segments.

Operating expenses increased $0.1 million sequentially, primarily reflecting higher general and administrative expenses, partially offset by lower amortization of intangibles. Compared with the prior-year period, operating expenses increased $1.8 million, or 14.8%. The increase reflected higher selling, general and administrative and engineering expenses, primarily in the form of higher payroll, payroll-related costs and higher commissions associated with higher volume. This was partially offset by lower amortization and restructuring costs.

Net earnings for the third quarter were $1.9 million, or $0.15 per diluted share. Adjusted net earnings (Non-GAAP)¹ were $2.3 million, or $0.18 adjusted EPS (Non-GAAP)¹.

Balance Sheet and Cash Flow Review

Cash and cash equivalents at the end of the third quarter of 2026 totaled $20.9 million, down $1.2 million from the end of the second quarter. During the quarter, we reduced our term debt by $1.0 million from June 30, 2026, and used $0.3 million in operating activities. Capital expenditures were $0.4 million in the third quarter of 2026.

At September 30, 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 14, 2026, we further amended the facility to extend our ability to draw on the Term Note through August 28, 2028. At September 30, 2026, we were in compliance with all of the covenants included in the Loan Agreement.

Third Quarter 2026 Orders² and Backlog² (see Orders by Market in accompanying tables)

	Three Months Ended
	September 30,			September 30,			Change						June 30,			Change
($ in thousands except percentages)	2026			2025			$			%			2026			$			%
Orders	$	49,432		$	37,642		$	11,790		31.3	%		$	28,871		$	20,561		71.2	%
Backlog (at quarter end)	$	59,736		$	49,267		$	10,469		21.2	%		$	45,373		$	14,363		31.7	%

Third quarter orders increased both sequentially and year-over-year, led by Semi, where orders of $25.1 million (including record back-end orders) more than doubled from the second quarter and more than tripled from the prior-year period. Semi represented 51% of total orders received in the third quarter. Sequentially, Auto/EV orders rebounded by $5.8 million and Defense/Aerospace orders rose $1.8 million, partially offset by lower Life Sciences orders. Year-over-year, the $17.1 million increase in Semi orders more than offset declines in Auto/EV (down $5.2 million) and Life Sciences (down $0.7 million).

Backlog increased both sequentially and year-over-year, as orders exceeded revenue in the third quarter. Approximately 60% of the backlog is expected to ship beyond the fourth quarter of 2026.

Fourth Quarter 2026 Outlook

For the fourth quarter of 2026, InTest projects revenue to be $34.0 million to $36.0 million, with gross margin of approximately 45%, and operating expenses of $14.2 million to $14.7 million. Amortization expense is expected to be $0.5 million.

Mr. Rogoff concluded, “We expect much of our third-quarter semiconductor order intake to convert to revenue in the first half of 2027, giving us greater revenue visibility into next year. We are also continuing the operational review we began earlier this year, focusing on our cost structure and overhead to enhance the profitability of the business. We approach 2027 with momentum, and our focus is on turning this demand into sustained, profitable growth.”

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 Friday, November 20, 2026. To listen to the archived call, dial (844) 512-2921 or (412) 317-6671 and enter replay pin number 13762890. 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”), Auto/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 principles 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 Financial 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,” “strategy,” “target,” “focus,” “project,” 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 impact of a material weakness in the Company’s internal controls over financial reporting; 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								Nine Months Ended
	September 30,								September 30,
(In thousands, except share and per share data)	2026				2025				2026				2025
Revenue	$	35,069			$	26,236			$	104,268			$	81,003
Cost of revenue		18,348				15,244				58,591				46,982
Gross profit		16,721				10,992				45,677				34,021
Operating expenses:
Selling expense		4,485				3,765				13,202				12,141
Engineering and product development expense		2,541				2,335				7,630				7,028
General and administrative expense		6,369				5,128				18,701				16,704
Amortization of acquired intangible assets		548				841				2,025				2,504
Restructuring costs		51				116				825				645
Total operating expenses		13,994				12,185				42,383				39,022
Operating income (loss)		2,727				(1,193	)			3,294				(5,001	)
Interest expense		(116	)			(95	)			(259	)			(366	)
Other income		55				61				107				768
Earnings (loss) before income tax expense (benefit)		2,666				(1,227	)			3,142				(4,599	)
Income tax expense (benefit)		810				(289	)			629				(829	)
Net earnings (loss)	$	1,856			$	(938	)		$	2,513			$	(3,770	)
Earnings (loss) per common share:
Basic	$	0.15			$	(0.08	)		$	0.20			$	(0.31	)
Diluted	$	0.15			$	(0.08	)		$	0.20			$	(0.31	)
Weighted average common shares outstanding:
Basic		12,477,978				12,208,586				12,348,882				12,201,087
Diluted		12,611,568				12,208,586				12,538,378				12,201,087

InTest Corporation Consolidated Balance Sheets
	September 30, 2026				December 31, 2025
(In thousands, except share and per share data)	(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents	$	20,874			$	14,216
Restricted cash		—				3,842
Trade accounts receivable, net of allowance for credit losses of $338 and $375, respectively		30,459				25,891
Inventories		28,244				31,580
Prepaid expenses and other current assets		3,203				3,109
Total current assets		82,780				78,638
Property and equipment, net of accumulated depreciation of $10,892 and $10,083, respectively		4,858				4,778
Right-of-use assets, net		7,619				9,098
Goodwill		31,873				32,359
Intangible assets, net		22,343				24,876
Deferred tax assets		490				775
Other assets		457				789
Total assets	$	150,420			$	151,313
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt	$	4,837			$	6,062
Current portion of operating lease liabilities		2,074				2,098
Accounts payable		8,255				11,205
Customer deposits and deferred revenue		4,410				6,388
Domestic and foreign income taxes payable		451				—
Accrued expenses and other current liabilities		11,492				10,002
Total current liabilities		31,519				35,755
Operating lease liabilities, net of current portion		5,932				7,402
Long-term debt, net of current portion		679				1,406
Contingent consideration, net of current portion		—				356
Deferred revenue, net of current portion		468				1,055
Other liabilities		1,491				1,716
Total liabilities		40,089				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; 12,921,433 and 12,570,865 shares issued, respectively; 12,835,148 and 12,488,788 shares outstanding, respectively		129				125
Additional paid-in capital		64,883				59,436
Retained earnings		45,073				42,560
Accumulated other comprehensive earnings		1,268				2,461
Treasury stock, at cost; 86,285 and 82,077 shares, respectively		(1,022	)			(959	)
Total stockholders’ equity		110,331				103,623
Total liabilities and stockholders’ equity	$	150,420			$	151,313

InTest Corporation Consolidated Statements of Cash Flows (Unaudited)
	Nine Months Ended September 30,
(In thousands)	2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)	$	2,513			$	(3,770	)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization		4,678				5,009
Provision for excess and obsolete inventory		413				583
Amortization of deferred compensation related to stock-based awards		1,891				1,212
Deferred income tax expense		333				546
Other non-cash reconciling items		190				(400	)
Changes in assets and liabilities:
Trade accounts receivable		(4,942	)			9,393
Inventories		2,488				(515	)
Prepaid expenses and other current assets		298				(405	)
Other assets		(283	)			(177	)
Operating lease liabilities		(1,587	)			(1,536	)
Accounts payable		(3,044	)			(510	)
Customer deposits and deferred revenue		(1,874	)			1,206
Domestic and foreign income taxes payable		574				(1,579	)
Deferred revenue, net of current portion		(587	)			(326	)
Accrued expenses and other liabilities		1,669				(394	)
Net cash provided by operating activities		2,730				8,337
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment		(1,412	)			(1,098	)
Net cash used in investing activities		(1,412	)			(1,098	)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings, net of repayments		1,284				(3,852	)
Repayments of long-term debt		(3,075	)			(3,075	)
Proceeds from stock options exercised		3,465				18
Proceeds from shares sold under Employee Stock Purchase Plan		106				90
Settlement of employee tax liabilities in connection with treasury stock transactions		(88	)			(17	)
Net cash provided by (used in) financing activities		1,692				(6,836	)
Effects of exchange rates on cash		(194	)			864
Net cash provided by all activities		2,816				1,267
Cash, cash equivalents and restricted cash at beginning of period		18,058				19,830
Cash and cash equivalents at end of period	$	20,874			$	21,097
Cash and cash equivalents	$	20,874			$	16,230
Restricted cash		—				4,867
Total cash, cash equivalents and restricted cash at end of period	$	20,874			$	21,097
Cash (receipts) payments for:
Domestic and foreign income taxes, net of receipts	$	(424	)		$	98
Interest		273				368
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Issuance of unvested shares of restricted stock awards		1,775				1,039
Forfeiture of shares of unvested restricted stock awards		(1,473	)			(557	)

InTest Corporation Revenue by Market (Unaudited)
($ in thousands)	Three Months Ended
	September 30,						September 30,						Change							June 30,						Change
	2026						2025						$				%			2026						$				%
Revenue
Semi	$	11,528		32.9	%		$	9,842		37.5	%		$	1,686			17.1	%		$	9,058		25.7	%		$	2,470			27.3	%
Auto/EV		6,669		19.0	%			4,964		18.9	%			1,705			34.3	%			13,440		38.1	%			(6,771	)		(50.4	%)
Defense/Aerospace		7,375		21.0	%			2,313		8.8	%			5,062			218.8	%			3,765		10.7	%			3,610			95.9	%
Industrial		5,129		14.6	%			3,658		13.9	%			1,471			40.2	%			4,356		12.3	%			773			17.7	%
Life Sciences		1,181		3.4	%			1,930		7.4	%			(749	)		(38.8	%)			2,002		5.7	%			(821	)		(41.0	%)
Safety/Security		598		1.7	%			927		3.5	%			(329	)		(35.5	%)			770		2.2	%			(172	)		(22.3	%)
Other		2,589		7.4	%			2,602		9.9	%			(13	)		(0.5	%)			1,922		5.4	%			667			34.7	%
	$	35,069		100.0	%		$	26,236		100.0	%		$	8,833			33.7	%		$	35,313		100.0	%		$	(244	)		(0.7	%)
* Components may not add up to total due to rounding

Orders by Market (Unaudited)
($ in thousands)	Three Months Ended
	September 30,						September 30,						Change							June 30,						Change
	2026						2025						$				%			2026						$				%
Orders
Semi	$	25,117		50.8	%		$	8,031		21.3	%		$	17,086			212.8	%		$	11,955		41.4	%		$	13,162			110.1	%
Auto/EV		9,363		18.9	%			14,580		38.7	%			(5,217	)		(35.8	%)			3,549		12.3	%			5,814			163.8	%
Defense/Aerospace		6,063		12.3	%			6,403		17.0	%			(340	)		(5.3	%)			4,237		14.7	%			1,826			43.1	%
Industrial		5,050		10.2	%			4,670		12.4	%			380			8.1	%			4,630		16.0	%			420			9.1	%
Life Sciences		708		1.4	%			1,450		3.9	%			(742	)		(51.2	%)			1,512		5.2	%			(804	)		(53.2	%)
Safety/Security		932		1.9	%			267		0.7	%			665			249.1	%			333		1.2	%			599			179.9	%
Other		2,199		4.4	%			2,241		6.0	%			(42	)		(1.9	%)			2,655		9.2	%			(456	)		(17.2	%)
	$	49,432		100.0	%		$	37,642		100.0	%		$	11,790			31.3	%		$	28,871		100.0	%		$	20,561			71.2	%
* Components may not add up to total due to rounding

InTest Corporation Segment Data (Unaudited)
	Three Months Ended September 30, 2026
($ in thousands)	Electronic Test			Environmental Technologies			Process Technologies			Corporate & Other				Consolidated
Revenue	$	16,886		$	10,024		$	8,159		$	—			$	35,069
Cost of revenue		8,250			5,911			4,187			—				18,348
Other divisional costs		5,218			2,339			3,008			—				10,565
Division operating income (loss)		3,418			1,774			964			—				6,156
Acquired intangible amortization											548				548
Restructuring costs											51				51
Corporate expenses											2,830				2,830
Operating income (loss)		3,418			1,774			964			(3,429	)			2,727
Interest expense											(116	)			(116	)
Other income											55				55
Earnings (loss) before income tax expense	$	3,418		$	1,774		$	964		$	(3,490	)		$	2,666

	Three Months Ended September 30, 2025
($ in thousands)	Electronic Test			Environmental Technologies			Process Technologies				Corporate & Other				Consolidated
Revenue	$	12,099		$	7,490		$	6,647			$	—			$	26,236
Cost of revenue		6,498			4,566			4,180				—				15,244
Other divisional costs		4,455			2,144			2,565				—				9,164
Division operating income		1,146			780			(98	)			—				1,828
Acquired intangible amortization												841				841
Restructuring costs												116				116
Corporate expenses												2,064				2,064
Operating (loss) income		1,146			780			(98	)			(3,021	)			(1,193	)
Interest expense												(95	)			(95	)
Other income												61				61
(Loss) earnings before income tax (benefit) expense	$	1,146		$	780		$	(98	)		$	(3,055	)		$	(1,227	)

	Nine Months Ended September 30, 2026
(in thousands)	Electronic Test			Environmental Technologies			Process Technologies			Corporate & Other				Consolidated
Revenue	$	55,631		$	24,194		$	24,443		$	—			$	104,268
Cost of revenue		30,392			14,832			13,367			—				58,591
Other divisional costs		15,993			6,937			9,038			—				31,968
Division operating income		9,246			2,425			2,038			—				13,709
Acquired intangible amortization											2,025				2,025
Restructuring costs											825				825
Corporate expenses											7,565				7,565
Operating income (loss)		9,246			2,425			2,038			(10,415	)			3,294
Interest expense											(259	)			(259	)
Other income											107				107
Earnings (loss) before income tax expense	$	9,246		$	2,425		$	2,038		$	(10,567	)		$	3,142

	Nine Months Ended September 30, 2025
(in thousands)	Electronic Test			Environmental Technologies			Process Technologies			Corporate & Other				Consolidated
Revenue	$	39,091		$	20,973		$	20,939		$	—			$	81,003
Cost of revenue		21,229			13,263			12,490			—				46,982
Other divisional costs		14,475			6,574			7,941			—				28,990
Division operating income		3,387			1,136			508			—				5,031
Acquired intangible amortization											2,504				2,504
Restructuring costs											645				645
Corporate expenses											6,883				6,883
Operating (loss) income		3,387			1,136			508			(10,032	)			(5,001	)
Interest expense											(366	)			(366	)
Other income											768				768
(Loss) earnings before income tax (benefit) expense	$	3,387		$	1,136		$	508		$	(9,630	)		$	(4,599	)

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
	September 30,				September 30,				June 30,
(in thousands except per share amounts)	2026				2025				2026
Net earnings (loss)	$	1,856			$	(938	)		$	474
Acquired intangible amortization		548				841				699
Restructuring costs		51				116				30
Tax effect of adjusting items		(165	)			(217	)			(112	)
Adjusted net earnings (loss) (Non-GAAP)	$	2,290			$	(198	)		$	1,091
Diluted weighted average shares outstanding		12,612				12,209				12,582
Adjusted net earnings (loss) per diluted share:
Net earnings (loss)	$	0.15			$	(0.08	)		$	0.04
Acquired intangible amortization		0.04				0.07				0.06
Restructuring costs		—				0.01				—
Tax effect of adjusting items		(0.01	)			(0.02	)			(0.01	)
Adjusted EPS (Non-GAAP)	$	0.18			$	(0.02	)		$	0.09
* 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
	September 30,				September 30,				June 30,
(in thousands except percentage data)	2026				2025				2026
Net earnings (loss)	$	1,856			$	(938	)		$	474
Acquired intangible amortization		548				841				699
Net interest expense (income)		3				(18	)			(15	)
Income tax expense (benefit)		810				(289	)			(225	)
Depreciation		395				317				386
Restructuring costs		51				116				30
Stock-based compensation		757				354				843
Adjusted EBITDA (Non-GAAP)	$	4,420			$	383			$	2,192
Revenue	$	35,069			$	26,236			$	35,313
Net margin		5.3	%			(3.6	%)			1.3	%
Adjusted EBITDA margin (Non-GAAP)		12.6	%			1.5	%			6.2	%

¹ 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.
² Orders and Backlog are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding InTest’s use of these metrics.

View source version on businesswire.com: https://www.businesswire.com/news/home/20261106537581/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

Source: InTest Corporation

Key Terms

non-gaap financial

Non-GAAP refers to financial measures that companies use to show their earnings or performance without including certain expenses or income that are often added back to give a different picture. It matters because it can make a company's results look better or more favorable, but it may also hide important costs, so investors need to look at both GAAP (official rules) and non-GAAP numbers to get a full understanding.

View in glossary

adjusted ebitda financial

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

delayed draw term loan facility financial

A delayed draw term loan facility is a committed loan that a borrower can tap in one or more installments at specified future times after meeting agreed conditions, rather than receiving the full amount upfront. For investors it matters because it provides a ready source of cash that can change a company’s financial strength, leverage and interest costs when drawn—similar to having a reserved credit line you can use later, which affects liquidity and the risk profile of the business.

covenants financial

Covenants are rules written into loan or bond contracts that require a company to do or avoid certain things—like keeping debt below a set level or not selling key assets. They matter to investors because they protect lenders and influence a company’s flexibility: tight covenants can limit growth plans but lower default risk, while loose covenants give freedom but increase credit risk, similar to how household rules affect a family’s budget choices.