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InTest (INTT) Q2 2026 revenue jumps 25% as guidance targets up to $140M

Filing Impact
(High)
Filing Sentiment
(Neutral)
Form Type
8-K

Rhea-AI Filing Summary

InTest Corporation reported second-quarter 2026 revenue of $35.3 million, up 25.5% year-over-year and its third straight quarter of sequential growth. Growth was driven largely by Auto/EV, which represented 38.1% of revenue, while non-semiconductor markets in total contributed approximately 74% of revenue.

GAAP net earnings were $0.5 million, or $0.04 per diluted share, compared with a loss of $0.5 million a year ago. Adjusted EPS was $0.09 versus $0.03, and Adjusted EBITDA rose to $2.2 million, up 73.7% year-over-year, though Adjusted EBITDA margin was 6.2%. Gross margin declined to 40.5% from 43.3% in the first quarter, reflecting a shift toward higher-volume, lower-margin Auto/EV products.

Orders in the quarter were $28.9 million, up 4.0% year-over-year but down 9.2% sequentially, while backlog was $45.4 million, up 19.8% year-over-year and down 12.4% sequentially. Cash and cash equivalents increased to $22.1 million, aided by $6.3 million provided by operating activities and a $1.0 million term-debt reduction. Management reiterated its raised full-year 2026 revenue outlook of $135–$140 million and expects third-quarter 2026 revenue of $33–$35 million with gross margin of about 44%.

Positive

  • Revenue grew 25.5% year-over-year to $35.3 million, marking the third consecutive quarter of sequential growth and the second straight quarter of year-over-year growth above 25%.
  • Net earnings improved to $0.5 million (EPS $0.04) from a $0.5 million loss a year ago, while Adjusted EBITDA rose 73.7% to $2.2 million, indicating stronger profitability on a non-GAAP basis.
  • Backlog reached $45.4 million, up 19.8% year-over-year, providing visibility into future revenue, with approximately 45% expected to ship beyond the third quarter of 2026.
  • The company ended the quarter with $22.1 million in cash and cash equivalents, up $6.4 million from the prior quarter, reduced term debt by $1.0 million, and remained in compliance with all loan covenants.
  • Management reiterated full-year 2026 revenue guidance of $135–$140 million, implying approximately 21% growth at the midpoint over 2025 revenue of $113.8 million.

Negative

  • Gross margin declined to 40.5%, down 280 basis points sequentially and 210 basis points year-over-year, reflecting a shift toward lower-margin Auto/EV revenue.
  • Backlog fell 12.4% sequentially to $45.4 million, and quarterly orders of $28.9 million were down 9.2% from the first quarter, indicating some near-term order softness.
  • Auto/EV orders of $3.5 million decreased 49.8% sequentially, and several smaller markets such as Safety/Security and Life Sciences saw significant order declines versus the prior quarter.
  • The company is revising first-quarter 2026 inventory, cost of revenue, gross profit, gross margin, income tax expense, net earnings and EPS, highlighting prior-period financial reporting adjustments.
  • Despite improvements, net margin remained low at 1.3% and Adjusted EBITDA margin was 6.2%, indicating profitability is still modest relative to revenue.

Filing Explained

Backlog is $45.4 million, but approximately 45% was expected to ship after the third quarter.

This Form 8-K furnishes InTest’s second-quarter results, reported for the quarter ended June 30, 2026, together with the accompanying press release. At June 30, the company reported $30.0 million available under its delayed-draw term-loan facility, no borrowings under its $10.0 million revolving facility, and draw availability extended through August 28, 2026; this is borrowing capacity, not a reported draw.

The filing defines backlog as firm customer purchase orders for which revenue has not yet been recognized, while noting that contracts can allow cancellation, termination, or suspension. Approximately 45% of the $45.4 million backlog was expected to ship beyond the third quarter, so the disclosed backlog is not all near-term recognized revenue.

The company also says it is revising previously announced first-quarter figures for inventory, cost of revenue, gross profit, gross margin, income-tax expense, net earnings, and EPS; the March 31 comparative figures in the tables are marked as revised. It reported compliance with all loan-agreement covenants at June 30, 2026.

The named financing checkpoint is August 28, 2026, when the stated term-note draw period ends; a later facility update would establish whether that capacity remains available or has been used.

Item 2.02 Results of Operations and Financial Condition Financial
Disclosure of earnings results, typically an earnings press release or preliminary financials.
Item 9.01 Financial Statements and Exhibits Exhibits
Financial statements, pro forma financial information, and exhibit attachments filed with this report.
Q2 2026 Revenue $35,313 thousand Three months ended June 30, 2026
Revenue Growth YoY 25.5% Q2 2026 vs Q2 2025 revenue change
Q2 2026 Net Earnings $474 thousand Net earnings for the three months ended June 30, 2026
Q2 2026 Adjusted EBITDA $2,192 thousand Adjusted EBITDA, up 73.7% year-over-year
Q2 2026 Gross Margin 40.5% Gross margin for the three months ended June 30, 2026
Backlog at June 30, 2026 $45,373 thousand Backlog at quarter end, up 19.8% year-over-year
Cash and Cash Equivalents $22,102 thousand Cash balance at June 30, 2026
2026 Revenue Guidance $135,000–$140,000 thousand Full-year 2026 revenue outlook range
Adjusted EBITDA financial
"Adjusted EBITDA (Non-GAAP)2 of $2.2 million, up 73.7% year-over-year"
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.
Non-GAAP financial measures financial
"These non-GAAP financial measures consist of adjusted net earnings (loss)..."
Non-GAAP financial measures are numbers companies use to show their financial performance that exclude certain expenses or income. They help investors see how the company might perform without one-time costs or other unusual items, giving a different perspective from official reports. However, since they can be adjusted, they don’t always tell the full story and should be looked at alongside standard financial figures.
backlog financial
"Backlog at June 30, 2026, was $45.4 million, a decrease of 12.4%..."
A backlog is the amount of work or orders that a company has received but hasn't completed yet. It’s like a restaurant with many dishes to serve; the backlog shows how many orders are still waiting to be finished. It matters because a large backlog can indicate strong demand or potential delays in delivering products or services.
delayed draw term loan facility financial
"the Company had $30.0 million available under its delayed draw term loan facility"
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.
material weakness in the Company’s internal controls over financial reporting financial
"include, but are not limited to, the impact of a material weakness in the Company’s internal controls..."
orders financial
"Orders represent written communications received from customers requesting the Company to provide products"
Orders are instructions investors give to a broker or exchange to buy or sell a specific number of shares, bonds, or other securities at a chosen price or at the current market price. They matter because the size, type and timing of orders determine how easily a security can be traded and influence its price — like customers lining up at a checkout: big or sudden orders can move prices and reveal demand or supply.
Revenue $35,313 thousand up 25.5% year-over-year from $28,130 thousand
Net earnings $474 thousand improved from a net loss of $503 thousand a year ago
EPS (diluted) $0.04 up from $(0.04) a year ago
Adjusted EPS $0.09 up from $0.03 a year ago
Adjusted EBITDA $2,192 thousand up 73.7% year-over-year from $1,262 thousand
Gross margin 40.5% down from 42.6% in Q2 2025 and 43.3% in Q1 2026
Guidance

For Q3 2026, revenue is projected at $33.0–$35.0 million with gross margin of approximately 44% and operating expenses of $13.8–$14.2 million. For full-year 2026, revenue is expected to be $135.0–$140.0 million, with gross margin of approximately 43%, operating expenses of $55.0–$57.0 million, amortization expense of $2.6 million, interest expense of $0.3 million, an effective tax rate of approximately 18%, and capital expenditures at approximately 1% to 2% of revenue.

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FAQ

How did InTest (INTT) perform financially in the second quarter of 2026?
InTest reported Q2 2026 revenue of $35.3 million, up 25.5% year-over-year, with net earnings of $0.5 million or $0.04 per diluted share. Adjusted EPS was $0.09 and Adjusted EBITDA reached $2.2 million, up 73.7%.

What revenue guidance did InTest (INTT) provide for full-year 2026?
InTest reiterated its 2026 revenue outlook of $135.0–$140.0 million, implying about 21% growth at the midpoint over 2025 revenue of $113.8 million. The company also expects gross margin of approximately 43% and operating expenses of $55.0–$57.0 million.

What are InTest’s (INTT) orders and backlog levels after Q2 2026?
For Q2 2026, InTest recorded orders of $28.9 million, up 4.0% year-over-year but down 9.2% sequentially. Backlog was $45.4 million, up 19.8% year-over-year and down 12.4% from March 31, 2026, with about 45% expected to ship beyond Q3 2026.

What is driving InTest’s (INTT) growth across markets in Q2 2026?
Growth was led by Auto/EV revenue of $13.4 million, up 129.3% year-over-year, and solid increases in Industrial and Life Sciences markets. Non-semiconductor markets contributed about 74% of total revenue, reflecting a more diversified end-market mix.

What outlook did InTest (INTT) provide for the third quarter of 2026?
For Q3 2026, InTest projects revenue of $33.0–$35.0 million, gross margin of approximately 44%, and operating expenses between $13.8 million and $14.2 million. Amortization expense is expected to be $0.5 million.
FALSE000103626200010362622026-08-102026-08-10

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
Pursuant to Section 13 or 15(d) of
the Securities Exchange Act of 1934
August 10, 2026
Date of Report (Date of earliest event reported)
InTest Corporation
(Exact Name of Registrant as Specified in its Charter)
Delaware001-3611722-2370659
(State or Other Jurisdiction of Incorporation)(Commission File Number)(I.R.S. Employer Identification No.)
804 East Gate Drive, Suite 200, Mt. Laurel, New Jersey 08054
(Address of Principal Executive Offices, including zip code)
  (856) 505-8800  
(Registrant's Telephone Number, including area code)
  N/A  
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
oWritten Communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
oSoliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
oPre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
oPre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
Securities registered pursuant to Section 12(b) of the Act:
Title of Each ClassTrading SymbolName of Each Exchange on Which Registered
Common Stock, par value $0.01 per shareINTTNYSE American
Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter)
Emerging growth company o
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. o


Item 2.02.    Results of Operations and Financial Condition.
On August 10, 2026, InTest Corporation (the “Company”) issued a press release regarding its financial results for the second quarter ended June 30, 2026.
The information furnished pursuant to this Item 2.02, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities under such section and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or the Exchange Act.
Item 9.01.    Financial Statements and Exhibits
(d)Exhibits
Exhibit No.Description
99.1
2026 Second Quarter Results Press Release dated August 10, 2026.
104Cover Page Interactive Data File – the cover page XBRL tags are embedded within the Inline XBRL document.
__________________________________________________________________________


SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
InTest CORPORATION
By: /s/ Duncan Gilmour
Duncan Gilmour
Chief Financial Officer, Treasurer and Secretary
Date:   August 10, 2026

Exhibit 99.1

intt-logoxred.jpg
NEWS RELEASE
804 EAST GATE DRIVE, SUITE 200, MOUNT LAUREL, NJ 08054
FOR IMMEDIATE RELEASE
InTest Reports Strong Second Quarter 2026 Revenue of $35.3 Million
EPS of $0.04 and Adjusted EPS (Non-GAAP) of $0.09
•Second quarter revenue up 25.5% year-over-year, driven largely by strength in the Auto/EV market
•Backlog1 of $45.4 million increased 19.8% year-over-year
•Net earnings of $0.5 million, up 194.2% year-over-year, Adjusted EBITDA (Non-GAAP)2 of $2.2 million, up 73.7% year-over-year
•Revising first quarter ending inventory, cost of revenue, gross profit, gross margin, income tax expense, net earnings and EPS as previously announced
•Reiterates full-year 2026 Revenue Outlook of $135 million to $140 million
MT. LAUREL, NJ – August 10, 2026 – 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 second quarter of 2026 ended June 30, 2026.
“We delivered second-quarter revenue of $35.3 million, up 25.5% year-over-year, our third consecutive quarter of sequential growth and our second straight quarter of year-over-year growth above 25%,” stated Rich Rogoff, President and CEO. “Strong Auto/EV project delivery and the diversification we have built across our end markets powered the result, with non-semiconductor markets contributing approximately 74% of revenue that drove an approximate 74% increase in Adjusted EBITDA2 year-over-year. This is the diversified growth profile we are building for InTest.
“Our leading indicators point to a strengthening second half,” continued Mr. Rogoff. “Semiconductor orders were the standout and have increased approximately 56% sequentially and approximately 64% year-over-year, making the second quarter our strongest Semi order intake in six quarters as the demand we have been building into our funnel has started to convert into orders. With backlog of $45.4 million, up 19.8% year-over-year, expanding Defense/Aerospace opportunities tied to higher U.S. Department of Defense spending, and healthy Auto/EV activity supported by rising electronic content, we entered the third quarter with momentum across our divisions.
1 Orders and Backlog are key performance metrics. See “Key Performance Indicators” below for important disclosures regarding InTest’s use of these metrics.
2 Adjusted net earnings (loss), adjusted EPS, adjusted EBITDA, and adjusted EBITDA margin are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures that accompany this press release.
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InTest Reports Second Quarter 2026
Page 2 of 12
August 10, 2026
Second Quarter 2026 Review (see revenue by market and by segments in accompanying tables)
Three Months Ended
($ in thousands except percentages and per share data)June 30,June 30,ChangeMarch 31,Change
20262025$%
2026†
$%
Revenue$35,313 $28,130 $7,183 25.5%$33,886 $1,427 4.2%
Gross profit$14,298 $11,973 $2,325 19.4%$14,658 $(360)(2.5%)
Gross margin 40.5%42.6%43.3%
Operating expenses (including intangible amortization & restructuring)
$13,935 $12,900 $1,035 8.0%$14,454 $(519)(3.6%)
Operating income (loss)$363 $(927)$1,290 139.2%$204 $159 77.9%
Operating margin 1.0%(3.3%)0.6%
Net earnings (loss)$474 $(503)$977 194.2%$183 $291 159.0%
Net margin1.3%(1.8%)0.5%
Earnings (loss) per diluted share (“EPS”)
$0.04 $(0.04)$0.08 200.0%$0.01 $0.03 300.0%
Adjusted net earnings (Non-GAAP)2
$1,091 $417 $674 161.6%$1,412 $(321)(22.7%)
Adjusted EPS (Non-GAAP)2
$0.09 $0.03 $0.06 200.0%$0.11 $(0.02)(18.2%)
Adjusted EBITDA (Non-GAAP)2
$2,192 $1,262 $930 73.7%$2,415 $(223)(9.2%)
Adjusted EBITDA margin (Non-GAAP)2
6.2%4.5%7.1%
† March 31, 2026 as revised
Revenue for the second quarter increased $1.4 million over the first quarter of 2026, reflecting higher Auto/EV and Industrial revenue, partially offset by lower Defense/Aerospace, Life Sciences and Semi revenue. Compared to the prior-year period, second quarter revenue increased $7.2 million with growth primarily in Auto/EV, partially offset by decreases primarily in Semi.
Gross margin declined by 280 basis points sequentially to 40.5%, reflecting a shift in product mix toward higher-volume, lower-margin Auto/EV revenue. Compared to the prior-year period, gross margin declined 210 basis points reflecting the same shift in mix toward lower-margin Auto/EV revenue.
Operating expenses decreased $0.5 million sequentially due primarily to $0.7 million in non-recurring restructuring costs associated with our CEO transition in the first quarter of 2026 but increased $1.0 million year-over-year, due primarily to higher selling, general and administrative and engineering expense due primarily to higher payroll, payroll related costs and commissions.
Net earnings for the second quarter were $0.5 million, or $0.04 per diluted share. Adjusted net earnings (Non-GAAP)2 were $1.1 million, or $0.09 adjusted EPS (Non-GAAP)2.
Balance Sheet and Cash Flow Review
Cash and cash equivalents at the end of the second quarter of 2026 totaled $22.1 million, up $6.4 million from the end of the first quarter. During the quarter, we reduced our term debt by $1.0 million from March 31, 2026, and provided $6.3 million from operating activities to invest in working capital. Capital expenditures were $0.4 million in the second quarter of 2026.
At June 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 May 4, 2026, we amended the facility, effective as of April 30, 2026, to extend our ability to draw on the Term Note through August 28, 2026. At June 30, 2026, we were in compliance with all of the covenants included in the Loan Agreement.

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InTest Reports Second Quarter 2026
Page 3 of 12
August 10, 2026
Second Quarter 2026 Orders1 and Backlog1 (see Orders by Market in accompanying tables)
Three Months Ended
June 30,June 30,ChangeMarch 31,Change
($ in thousands except percentages)20262025$%2026$%
Orders$28,871 $27,759 $1,112 4.0%$31,785 $(2,914)(9.2%)
Backlog (at quarter end)
$45,373 $37,861 $7,512 19.8%$51,815 $(6,442)(12.4%)
Second quarter orders of $28.9 million decreased sequentially with lower Auto/EV and Defense/Aerospace orders partially offset primarily by increases in Semi and Other. The year-over-year increase of $1.1 million reflects strength primarily in Semi and Defense/Aerospace partially offset primarily by the decline in Auto/EV and Life Sciences.
Backlog at June 30, 2026, was $45.4 million, a decrease of 12.4% from March 31, 2026, but an increase of 19.8% compared to June 30, 2025. Approximately 45% of the backlog is expected to ship beyond the third quarter of 2026.
Third Quarter 2026 and Raised Full Year 2026 Outlook
Mr. Rogoff concluded, “We are reiterating the full-year 2026 guidance we updated on July 31, which raised our revenue outlook to approximately 21% growth at the midpoint over 2025's $113.8 million, and modestly reduced our gross margin expectation. This outlook reflects diversified demand supported by our backlog, along with improving order flow and product mix in the second half. Above all, our goal is to convert the commercial momentum we are seeing into steadier Adjusted EBITDA2 growth as we gain operating leverage and continue to scale the business. This is where our focus rests for the balance of the year."
For the third quarter of 2026, InTest projects revenue to be $33.0 million to $35.0 million, with gross margin of approximately 44%, and operating expenses of $13.8 million to $14.2 million. Amortization expense is expected to be $0.5 million.
Reflecting its recently revised full-year 2026 financial guidance, the Company expects revenue of $135.0 million to $140.0 million; gross margin of approximately 43%; operating expenses of $55.0 million to $57.0 million; amortization expense of $2.6 million; interest expense of $0.3 million; an effective tax rate of approximately 18%; and capital expenditures estimated at approximately 1% to 2% of revenue.
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 Monday, August 24, 2026. To listen to the archived call, dial (844) 512-2921 or (412) 317-6671 and enter replay pin number 113760855. 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”), Automotive/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/.

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InTest Reports Second Quarter 2026
Page 4 of 12
August 10, 2026
Non-GAAP Financial Measures
In addition to disclosing results that are determined in accordance with generally accepted accounting practices 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 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.
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InTest Reports Second Quarter 2026
Page 5 of 12
August 10, 2026
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,” “goal,” “guidance,” “may,” “outlook,” “will,” “plan,” “potential,” “strategy,” “target,” “estimated,” 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.
Contacts:
InTest CorporationInvestors:
Duncan GilmourJody Burfening / Sanjay M. Hurry
Chief Financial Officer and TreasurerAlliance Advisors IR
Tel: (856) 505-8999INTTIR@allianceadvisors.com
Tel: (212) 838-3777

– FINANCIAL TABLES FOLLOW –
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InTest Reports Second Quarter 2026
Page 6 of 12
August 10, 2026
InTest Corporation
Consolidated Statements of Operations
(Unaudited)
Three Months EndedSix Months Ended
June 30,June 30,
(In thousands, except share and per share data)2026202520262025
Revenue$35,313 $28,130 $69,199 $54,767 
Cost of revenue21,015 16,157 40,243 31,738 
Gross profit14,298 11,973 28,956 23,029 
Operating expenses:
Selling expense4,497 3,829 8,717 8,376 
Engineering and product development expense2,501 2,245 5,089 4,693 
General and administrative expense6,208 5,760 12,332 11,576 
Amortization of acquired intangible assets699 850 1,477 1,663 
Restructuring costs30 216 774 529 
Total operating expenses13,935 12,900 28,389 26,837 
Operating income (loss)363 (927)567 (3,808)
Interest expense(63)(119)(143)(271)
Other (expense) income(51)463 52 707 
Earnings (loss) before income tax benefit249 (583)476 (3,372)
Income tax benefit(225)(80)(181)(540)
Net earnings (loss)$474 $(503)$657 $(2,832)
Earnings (loss) per common share:
Basic$0.04 $(0.04)$0.05 $(0.23)
Diluted$0.04 $(0.04)$0.05 $(0.23)
Weighted average common shares outstanding:
Basic12,314,63312,215,25812,284,33412,197,338
Diluted12,582,22112,215,25812,501,78312,197,338
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InTest Reports Second Quarter 2026
Page 7 of 12
August 10, 2026
InTest Corporation
Consolidated Balance Sheets
June 30,
2026		December 31,
2025
(In thousands, except share and per share data)(Unaudited)
ASSETS
Current assets:
Cash and cash equivalents$22,102 $14,216 
Restricted cash— 3,842 
Trade accounts receivable, net of allowance for credit losses of $338 and $375, respectively
26,860 25,891 
Inventories27,923 31,580 
Prepaid expenses and other current assets3,010 3,109 
Total current assets79,895 78,638 
Property and equipment, net of accumulated depreciation of $10,577 and $10,083, respectively
4,913 4,778 
Right-of-use assets, net8,153 9,098 
Goodwill31,965 32,359 
Intangible assets, net22,983 24,876 
Deferred tax assets746 775 
Other assets450 789 
Total assets$149,105 $151,313 
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Current portion of long-term debt$5,348 $6,062 
Current portion of operating lease liabilities2,135 2,098 
Accounts payable7,972 11,205 
Customer deposits and deferred revenue5,455 6,388 
Domestic and foreign income taxes payable39 — 
Accrued expenses and other current liabilities11,178 10,002 
Total current liabilities32,127 35,755 
Operating lease liabilities, net of current portion6,408 7,402 
Long-term debt, net of current portion895 1,406 
Contingent consideration, net of current portion— 356 
Deferred revenue, net of current portion422 1,055 
Other liabilities1,556 1,716 
Total liabilities41,408 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; 12,912,071 and 12,570,865 shares issued, respectively; 12,825,786 and 12,488,788 shares outstanding, respectively
129 125 
Additional paid-in capital64,028 59,436 
Retained earnings43,217 42,560 
Accumulated other comprehensive earnings1,345 2,461 
Treasury stock, at cost; 86,285 and 82,077 shares, respectively
(1,022)(959)
Total stockholders’ equity107,697 103,623 
Total liabilities and stockholders’ equity$149,105 $151,313 
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InTest Reports Second Quarter 2026
Page 8 of 12
August 10, 2026
InTest Corporation
Consolidated Statements of Cash Flows
(Unaudited)
Six Months Ended June 30,
(In thousands)20262025
CASH FLOWS FROM OPERATING ACTIVITIES
Net earnings (loss)$657 $(2,832)
Adjustments to reconcile net earnings (loss) to net cash provided by operating activities:
Depreciation and amortization3,262 3,306 
Provision for excess and obsolete inventory373 304 
Amortization of deferred compensation related to stock-based awards1,134 858 
Deferred income tax expense57 205 
Other non-cash reconciling items94 (383)
Changes in assets and liabilities:
Trade accounts receivable(1,347)6,865 
Inventories2,937 203 
Prepaid expenses and other current assets516 (438)
Other assets(314)(36)
Operating lease liabilities(1,086)(966)
Accounts payable(3,294)(898)
Customer deposits and deferred revenue(828)272 
Domestic and foreign income taxes payable162 (883)
Deferred revenue, net of current portion(633)(65)
Accrued expenses and other liabilities1,314 (665)
Net cash provided by operating activities3,004 4,847 
CASH FLOWS FROM INVESTING ACTIVITIES
Purchases of property and equipment(1,049)(691)
Net cash used in investing activities(1,049)(691)
CASH FLOWS FROM FINANCING ACTIVITIES
Short-term borrowings, net of repayments947 (3,613)
Repayments of long-term debt(2,050)(2,050)
Proceeds from stock options exercised3,413 18 
Proceeds from shares sold under Employee Stock Purchase Plan66 60 
Settlement of employee tax liabilities in connection with treasury stock transactions(88)(17)
Net cash provided by (used in) financing activities2,288 (5,602)
Effects of exchange rates on cash(199)864 
Net cash provided by (used in) all activities4,044 (582)
Cash, cash equivalents and restricted cash at beginning of period18,058 19,830 
Cash and cash equivalents at end of period$22,102 $19,248 
Cash (receipts) payments for:
Domestic and foreign income taxes, net of receipts$(550)$145 
Interest153 266 
SUPPLEMENTAL DISCLOSURE OF NON-CASH INVESTING AND FINANCING ACTIVITIES
Issuance of unvested shares of restricted stock awards1,775 1,039 
Forfeiture of shares of unvested restricted stock awards(1,473)(557)
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InTest Reports Second Quarter 2026
Page 9 of 12
August 10, 2026
InTest Corporation
Revenue by Market
(Unaudited)
($ in thousands)Three Months Ended
June 30,June 30,ChangeMarch 31,Change
20262025$%2026$%
Revenue
Semi$9,058 25.7 %$10,192 36.2 %$(1,134)(11.1%)$10,507 31.0 %$(1,449)(13.8%)
Auto/EV13,440 38.1 %5,862 20.8 %7,578 129.3%7,487 22.1 %5,953 79.5%
Defense/Aerospace3,765 10.7 %3,578 12.7 %187 5.2%5,822 17.2 %(2,057)(35.3%)
Industrial4,356 12.3 %3,786 13.5 %570 15.1%3,242 9.6 %1,114 34.4%
Life Sciences2,002 5.7 %1,386 4.9 %616 44.4%3,572 10.5 %(1,570)(44.0%)
Safety/Security770 2.2 %898 3.2 %(128)(14.3%)1,112 3.3 %(342)(30.8%)
Other1,922 5.4 %2,428 8.6 %(506)(20.8%)2,144 6.3 %(222)(10.4%)
$35,313 100.0 %$28,130 100.0 %$7,183 25.5%$33,886 100.0 %$1,427 4.2%
* Components may not add up to total due to rounding

Orders by Market
(Unaudited)
($ in thousands)Three Months Ended
June 30,June 30,ChangeMarch 31,Change
20262025$%2026$%
Orders
Semi$11,955 41.4 %$7,292 26.3 %$4,663 63.9%$7,677 24.2 %$4,278 55.7%
Auto/EV3,549 12.3 %7,066 25.5 %(3,517)(49.8%)10,744 33.8 %(7,195)(67.0%)
Defense/Aerospace4,237 14.7 %2,499 9.0 %1,738 69.5%5,918 18.6 %(1,681)(28.4%)
Industrial4,630 16.0 %4,680 16.9 %(50)(1.1%)4,123 13.0 %507 12.3%
Life Sciences1,512 5.2 %2,863 10.3 %(1,351)(47.2%)1,587 5.0 %(75)(4.7%)
Safety/Security333 1.2 %1,173 4.2 %(840)(71.6%)260 0.8 %73 28.1%
Other2,655 9.2 %2,186 7.9 %469 21.5%1,476 4.6 %1,179 79.9%
$28,871 100.0 %$27,759 100.0 %$1,112 4.0%$31,785 100.0 %$(2,914)(9.2%)
* Components may not add up to total due to rounding
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InTest Reports Second Quarter 2026
Page 10 of 12
August 10, 2026
InTest Corporation
Segment Data
(Unaudited)
Three Months Ended June 30, 2026
($ in thousands)Electronic TestEnvironmental TechnologiesProcess
Technologies		Corporate &
Other		Consolidated
Revenue$21,404 $5,819 $8,090 $— $35,313 
Cost of revenue12,469 4,054 4,492 — 21,015 
Other divisional costs5,154 2,333 3,217 — 10,704 
Division operating income (loss)3,781 (568)381 — 3,594 
Acquired intangible amortization699 699 
Restructuring costs30 30 
Corporate expenses2,502 2,502 
Operating income (loss)3,781 (568)381 (3,231)363 
Interest expense(63)(63)
Other income(51)(51)
Earnings (loss) before income tax expense$3,781 $(568)$381 $(3,345)$249 



Three Months Ended June 30, 2025
($ in thousands)Electronic TestEnvironmental TechnologiesProcess
Technologies		Corporate &
Other		Consolidated
Revenue$13,733 $7,215 $7,182 $— $28,130 
Cost of revenue7,418 4,534 4,205 — 16,157 
Other divisional costs4,755 2,070 2,578 — 9,403 
Division operating income1,560 611 399 — 2,570 
Acquired intangible amortization850 850 
Restructuring costs216 216 
Corporate expenses2,431 2,431 
Operating (loss) income1,560 611 399 (3,497)(927)
Interest expense(119)(119)
Other income463 463 
(Loss) earnings before income tax expense$1,560 $611 $399 $(3,153)$(583)

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InTest Reports Second Quarter 2026
Page 11 of 12
August 10, 2026
Six Months Ended June 30, 2026
(in thousands)Electronic
 Test		Environmental
Technologies		Process
Technologies		Corporate &
Other		Consolidated
Revenue$38,745 $14,170 $16,284 $— $69,199 
Cost of revenue22,142 8,921 9,180 — 40,243 
Other divisional costs10,775 4,598 6,030 — 21,403 
Division operating income5,828 651 1,074 — 7,553 
Acquired intangible amortization1,477 1,477 
Restructuring costs774 774 
Corporate expenses
4,735 4,735 
Operating income (loss)5,828 651 1,074 (6,986)567 
Interest expense
(143)(143)
Other income52 52 
Earnings (loss) before income tax expense$5,828 $651 $1,074 $(7,077)$476 


Six Months Ended June 30, 2025
(in thousands)Electronic
 Test		Environmental
Technologies		Process
Technologies		Corporate &
Other		Consolidated
Revenue$26,992 $13,483 $14,292 $— $54,767 
Cost of revenue14,731 8,697 8,310 — 31,738 
Other divisional costs10,020 4,430 5,376 — 19,826 
Division operating income2,241 356 606 — 3,203 
Acquired intangible amortization1,663 1,663 
Restructuring costs529 529 
Corporate expenses
4,819 4,819 
Operating (loss) income2,241 356 606 (7,011)(3,808)
Interest expense
(271)(271)
Other income707 707 
(Loss) earnings before income tax (benefit) expense$2,241 $356 $606 $(6,575)$(3,372)
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InTest Reports Second Quarter 2026
Page 12 of 12
August 10, 2026
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
June 30,June 30,March 31,
(in thousands except per share amounts)20262025
2026†
Net earnings (loss)$474 $(503)$183 
Acquired intangible amortization699 850 778 
Restructuring costs30 216 744 
Tax effect of adjusting items(112)(146)(293)
Adjusted net earnings (loss) (Non-GAAP) $1,091 $417 $1,412 
Diluted weighted average shares outstanding12,58212,24612,421
Adjusted net earnings (loss) per diluted share:
Net earnings (loss)$0.04 $(0.04)$0.01 
Acquired intangible amortization0.06 0.07 0.06 
Restructuring costs— 0.02 0.06 
Tax effect of adjusting items(0.01)(0.01)(0.02)
Adjusted EPS (Non-GAAP) $0.09 $0.03 $0.11 
* Components may not add up to total due to rounding
† March 31, 2026 as revised

Reconciliation of Net Earnings (Loss) and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP):
Three Months Ended
June 30,June 30,March 31,
(in thousands except percentage data)20262025
2026†
Net earnings (loss)$474 $(503)$183 
Acquired intangible amortization699 850 778 
Net interest (income) expense(15)30 — 
Income tax (benefit) expense(225)(80)44 
Depreciation386 314 375 
Restructuring costs30 216 744 
Stock-based compensation843 435 291 
Adjusted EBITDA (Non-GAAP) $2,192 $1,262 $2,415 
Revenue$35,313 $28,130 $33,886 
Net margin1.3%(1.8%)0.5%
Adjusted EBITDA margin (Non-GAAP)6.2%4.5%7.1%
† March 31, 2026 as revised
###

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