TechPrecision Corporation (TPCS) lifts revenue 23%, boosts EBITDA and builds $52.7M backlog

Rhea-AI Filing Summary

TechPrecision Corporation reported stronger results for the first quarter of fiscal 2027, the three months ended June 30, 2026. Consolidated revenue was $9.1 million, up 23% from a year earlier on a favorable customer and project mix at both Ranor and Stadco. Gross profit rose 36% to $1.4 million, lifting gross margin to 15%. SG&A fell 3%, and the company nearly reached breakeven, with an operating loss of $45,000, a 90% improvement. Net loss narrowed to $0.2 million, or $0.02 per share, compared with a $0.6 million loss.

EBITDA, a non‑GAAP metric, improved to $0.7 million from $0.2 million, reflecting better margins and cost control. Ranor revenue increased 27% while Stadco revenue grew 22%, with Stadco’s losses narrowing as its cost of revenue was essentially flat. Funded backlog reached $52.7 million with about $22 million of additional unfunded purchase orders, expected to be delivered over one to three fiscal years. The company reaffirmed fiscal 2027 guidance for revenue growth of about 10% to $35–$37 and EBITDA growth of about 80% to $3–$4. Cash was $0.3 million and total debt $5.0 million, with all debt classified as current due to covenant violations, resulting in slightly negative working capital.

Positive

• Revenue grew 23% to $9.1 million, driven by favorable customer and project mix at both Ranor and Stadco.
• Gross profit increased 36% to $1.4 million, and EBITDA rose to $651,000 from $239,000, indicating improved profitability.
• Net loss narrowed to $0.2 million from $0.6 million, with operating loss improving by 90% to just $45,000.
• The company reported a strong funded backlog of $52.7 million plus approximately $22 million of unfunded purchase orders.
• Total debt declined to $5.0 million from $7.0 million, and operating cash flow improved to $1.9 million from $0.6 million.

Negative

• The company remains unprofitable, with a net loss of $0.2 million for the quarter.
• Working capital was slightly negative and all debt is classified as current due to debt covenant violations.
• Cash on hand was only $0.3 million at June 30, 2026, compared with total debt of $5.0 million.

8-K Event Classification

2 items: 2.02, 9.01

2 items

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.

Key Figures

Quarterly Revenue: $9.096 million Gross Profit: $1.400 million Net Loss: $0.153 million +5 more

8 metrics

Quarterly Revenue $9.096 million Three months ended June 30, 2026; up 23% year over year

Gross Profit $1.400 million Three months ended June 30, 2026; up 36% year over year

Net Loss $0.153 million Three months ended June 30, 2026; improved from $0.597 million loss in prior year

EBITDA $0.651 million Three months ended June 30, 2026; up from $0.239 million

Funded Backlog $52.7 million As of June 30, 2026, excluding about $22 million of unfunded purchase orders

Total Debt $5.0 million As of June 30, 2026; down from $7.0 million at March 31, 2026

Cash Balance $0.279 million Cash on hand at June 30, 2026

Operating Cash Flow $1.898 million Net cash provided by operating activities for three months ended June 30, 2026

Key Terms

funded backlog, EBITDA, negative working capital, debt covenant violations, +2 more

6 terms

funded backlog financial

"our funded backlog reaching $52.7 million as of June 30, 2026"

Funded backlog is the portion of a company’s unfulfilled orders or signed contracts that already has committed financing or approved budget behind it, meaning the customer (or a funding source) has promised the money needed to pay for the work. For investors it signals clearer near-term revenue visibility and lower execution risk — like a stack of paid-for jobs waiting to be finished rather than hopeful leads — which helps assess future cash flow and growth reliability.

EBITDA financial

"The Company is holding to its FY 2027 guidance of Revenue growth of +10% to $35 - $37 and EBITDA growth of +80% to $3-$4"

EBITDA stands for earnings before interest, taxes, depreciation, and amortization. It measures a company's profitability by focusing on the money it makes from its core operations, ignoring expenses like taxes and accounting adjustments. Investors use EBITDA to compare how well different companies are performing financially, as it provides a clearer picture of operational success without the influence of financial structure or accounting choices.

negative working capital financial

"Working capital was negative $46,000 and total debt was $5.0 million on June 30, 2026"

Negative working capital happens when a company’s short-term obligations (bills, supplier invoices, debt coming due) exceed its short-term resources (cash, money owed by customers, sellable inventory). For investors it signals how easily a business can meet immediate bills — it can be a warning sign of cash stress or, in some models, an efficient operation that collects cash faster than it pays suppliers; think of a household that consistently has to borrow before payday versus one that gets paid in advance.

debt covenant violations financial

"Negative working capital reflects required classification of all debt obligations as current due to certain debt covenant violations"

NonDestructive Testing technical

"QC inspection including portable CMM, NonDestructive Testing, and final packaging"

Nondestructive testing is a set of inspection methods that check the condition of materials, parts, or structures without harming them — like using X-rays, ultrasound, or a doctor’s check-up instead of surgery. For investors, it matters because reliable testing helps companies spot problems early, extend asset life, meet safety rules, avoid costly failures or recalls, and plan maintenance budgets; strong NDT practice can reduce risk and protect long‑term value.

ITAR regulatory

"Ranor is registered and compliant with ITAR"

ITAR is a set of U.S. rules that control the export, import and sharing of military items, technologies and related technical data. For investors it matters because companies that make or handle controlled defense products can face strict licensing requirements, export bans, heavy fines, or lost contracts if they fail to comply—similar to a traffic cop that can stop or reroute a shipment, which can affect revenue, supply chains and company value.

Earnings Snapshot

Revenue: $9.096 million · Guidance included

Three months ended June 30, 2026

Revenue $9.096 million Up 23% year over year

Gross Profit $1.400 million Up 36% year over year

Net Loss $0.153 million Decreased from $0.597 million loss a year ago

EBITDA $0.651 million Increased from $0.239 million a year ago

Guidance

Fiscal 2027 guidance reaffirmed: revenue growth of about 10% to $35–$37 and EBITDA growth of about 80% to $3–$4.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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FAQ

How did TechPrecision (TPCS) perform financially in the quarter ended June 30, 2026?

TechPrecision reported revenue of $9.1 million, up 23%, and gross profit of $1.4 million, up 36%. Net loss narrowed to $0.2 million, or $0.02 per share, compared with a $0.6 million loss a year earlier.

What were TechPrecision’s (TPCS) EBITDA results for the first quarter of fiscal 2027?

EBITDA was $651,000 for the quarter, improving from $239,000 a year earlier. The increase reflects higher revenue, stronger gross margins at both segments, and modestly lower SG&A expenses, moving the company closer to sustained profitability.

What guidance did TechPrecision (TPCS) provide for fiscal year 2027?

Management reaffirmed guidance for revenue growth of about 10% to $35–$37 and EBITDA growth of about 80% to $3–$4. The company expects to achieve this as it executes its strategic customer and project mix plan.

What is TechPrecision’s (TPCS) backlog as of June 30, 2026?

TechPrecision reported a funded backlog of $52.7 million plus approximately $22 million in additional unfunded purchase orders. Management expects to deliver this backlog over the next one to three fiscal years with ongoing gross margin improvement.

What is TechPrecision’s (TPCS) current debt and liquidity position?

At June 30, 2026, TechPrecision had cash of $0.3 million and total debt of $5.0 million. Working capital was slightly negative because all debt obligations are classified as current following certain debt covenant violations.

How did TechPrecision’s (TPCS) Ranor and Stadco segments perform in the quarter?

Ranor revenue grew 27% to $5.5 million, while Stadco revenue rose 22% to $4.1 million. Ranor’s gross profit increased modestly, and Stadco’s losses narrowed significantly as revenue increased while its cost of revenue was virtually unchanged year over year.

What were TechPrecision’s (TPCS) operating cash flow trends this quarter?

Net cash provided by operating activities was $1.9 million, up from $646,000 a year earlier. The improvement was driven by better earnings, favorable working capital movements in accounts payable and other assets, and changes in contract-related balances.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of the Securities and Exchange Act of 1934

Date of Report (Date of earliest event reported): August 13, 2026

TECHPRECISION CORPORATION

(Exact Name of Registrant as Specified in Charter)

Delaware		001-41698		51-0539828
(State or Other Jurisdiction of Incorporation or Organization)		(Commission File Number)		(IRS Employer Identification No.)

1 Bella Drive

Westminster, MA 01473

(Address of principal executive offices) (Zip Code)

Registrant's telephone number, including area code: (978) 874-0591

Securities registered or to be registered pursuant to Section 12(b) of the Act:

Title of each class		Trading Symbol(s)		Name of each exchange on which registered
Common Stock, par value $0.0001 per share		TPCS		Nasdaq Capital Market

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:

¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

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 ¨

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. ☐

Item 2.02 Results of Operations and Financial Condition.

On August 13, 2026, TechPrecision Corporation issued a press release announcing its financial results for the three months ended June 30, 2026. A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The information in this Item 2.02 of Form 8-K and Exhibit 99.1 attached hereto shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, except as shall be expressly set forth by specific reference.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits

Exhibit Number		Description
99.1		Press Release dated August 13, 2026
104		Cover Page Interactive Data File (the cover page XBRL tags are embedded within the inline XBRL document)

SIGNATURES

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.

	TECHPRECISION CORPORATION
Date: August 13, 2026	By:	/s/ Phillip E. Podgorski
	Name:	Phillip E. Podgorski
	Title:	Chief Financial Officer

Exhibit 99.1

Company Contact:	Investor Relations Contact:
Phillip Podgorski	Hayden IR
Chief Financial Officer	Brett Maas
TechPrecision Corporation	Phone: 646-536-7331
Phone: 978-874-0591	Email: brett@haydenir.com
Email: podgorskip@Ranor.com	Website: www.haydenir.com
Website: www.TechPrecision.com

FOR IMMEDIATE RELEASE

TechPrecision Corporation Reports Fiscal Year 2027 First Quarter Financial Results

Consolidated Revenue and Gross Profit increased by 23% and 36%, respectively.

Westminster, MA – August 13, 2026 – TechPrecision Corporation (NASDAQ: TPCS) (“TechPrecision” or “the Company”), a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components, today reported financial results for the first quarter of fiscal year 2027, or three months ended June 30, 2026. The components that we manufacture are customer designed and sold to customers in the defense and precision industrial markets. We have two wholly owned subsidiaries that are each reportable segments, Ranor and Stadco.

Management will host a conference call on Thursday, August 13, 2026, at 4.30 p.m. ET, to discuss our financial results for the first quarter of fiscal year 2027.

“For the first quarter of fiscal year 2027 the Company reported consolidated revenue of $9.1 million or 23% higher than the same period a year ago. Consolidated gross profit was $1.4 million or 36% higher than the same period a year ago. Our Ranor segment executed on a favorable customer and project mix as revenue and gross profit increased by 27% and 4%, respectively” stated Alexander Shen, TechPrecision’s Chief Executive Officer. “Our Stadco segment executed on its strategic project mix change and revenue increased by 22%, and Stadco losses narrowed as cost of revenue was virtually unchanged from the same period a year ago.”

“As a result of the favorable customer and project mix at both segments, our net loss decreased by $0.4 million with equal EBITDA improvement,” stated Alexander Shen, TechPrecision’s Chief Executive Officer.

“Customer confidence remains high with our funded backlog reaching $52.7 million as of June 30, 2026, with approximately $22 million of additional unfunded purchase orders,” Mr. Shen continued. “We expect to deliver this backlog over the next one to three fiscal years with expectations for gross margin improvement throughout the period.”

“For the remainder of fiscal 2027, the Company remains on track to deliver double-digit revenue growth and resulting EBITDA as we continue to execute on the strategic customer and project mix plan,” stated Alexander Shen, TechPrecision’s Chief Executive Officer. The Company is holding to its FY 2027 guidance of Revenue growth of +10% to $35.0M - $37.0M and EBITDA growth of +80% to $3.0M-$4.0M.

The following summary compares the three months ended June 30, 2026 to the same prior year period:

Consolidated Financial Results - Three Months Ended June 30, 2026

·	Revenue was $9.1 million, a 23% increase on a favorable customer and project mix at both segments.
·	Cost of revenue was $7.7 million, or a 21% increase in line with segment revenue growth.
·	Gross profit was $1.4 million, an increase of 36% primarily on higher revenue at both segments.
·	SG&A decreased by 3% primarily on a decrease in professional fees and office costs.
·	Operating loss was $45,000, a 90% improvement due primarily to the higher margin drop-through.
·	Interest expense decreased 21%, due to lower interest costs incurred on loans.
·	Net loss was $0.2 million, compared with net loss of $0.6 million in the same period a year ago.

Financial Position

On June 30, 2026, and March 31, 2026, the Company had approximately $0.3 million and $0.4 million in cash, respectively. Working capital was negative $46,000 and total debt was $5.0 million on June 30, 2026. Working capital was negative $0.4 million on March 31, 2026, and debt totaled $7.0 million. Negative working capital reflects required classification of all debt obligations as current due to certain debt covenant violations.

Conference Call

The Company will hold a conference call at 4:30 p.m. Eastern (U.S.) time on Thursday, August 13, 2026. To participate in the live conference call, please dial 1-888-506-0062 five to 10 minutes prior to the scheduled conference call time. International callers should dial 1-973-528-0011. When prompted, reference TechPrecision and enter code 723051.

A replay will be available until August 27, 2026. To access the replay, dial 1-877-481-4010 or 1-919-882-2331. When prompted, enter Conference Passcode 54397.

The call will also be available over the Internet and accessible at: https://www.webcaster5.com/Webcast/Page/2198/54397.

About TechPrecision Corporation

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and Stadco, is a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components. The manufacturing operations of our Ranor subsidiary are situated on approximately 65 acres in North Central Massachusetts. Leveraging our 145,000 square foot facilities, Ranor provides a full range of custom solutions to transform material into precision finished welded components and precision finished machined components up to 100 tons: manufacturing engineering, materials management and traceability, high-precision heavy fabrication (in-house fabrication operations include cutting, press and roll forming, welding, heat treating, assembly, blasting and painting), heavy high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including portable CMM, NonDestructive Testing, and final packaging.

All manufacturing at Ranor is performed in accordance with customer requirements. Ranor is an ISO 9001:2015 certificate holder. Ranor is a US defense-centric company with over 95% of its revenue in the defense sector. Ranor is registered and compliant with ITAR.

The manufacturing operations of our Stadco subsidiary are situated in an industrial self-contained multi-building complex comprised of approximately 183,000 square feet under roof in Los Angeles, California. Stadco manufactures large mission-critical components on several high-profile military aircraft, military helicopter, and military space programs. Stadco has been a critical supplier to a blue-chip customer base that includes some of the largest OEMs and prime contractors in the defense and aerospace industries. Stadco also manufactures tooling, molds, fixtures, jigs and dies used in the production of defense-centric aircraft components.

Our Stadco subsidiary, similar to Ranor, provides a full range of custom solutions: manufacturing engineering, materials management and traceability, high-precision fabrication (in-house fabrication operations include waterjet cutting, press forming, welding, and assembly) and high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including both fixed and portable CMM NonDestructive Testing, and final packaging. In addition, Stadco features a large electron beam welding cell, and two NonDestructive Testing work cells, a unique mission-critical technology set.

All manufacturing at Stadco is performed in accordance with customer requirements. Stadco is an AS 9100 D and ISO 9001:2015 certificate holder and a NADCAP NonDestructive Testing certificate holder. Stadco is a US defense-centric company with over 95% of its revenue in the defense sector. Stadco is registered and compliant with ITAR.

To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain “forward-looking statements” relating to the business of the Company and its subsidiary companies. All statements other than statements of current or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking statements. The words “anticipate,” “believe,” “continue,” “could,” “estimate,” “expect,” “intend,” “may,” “plan,” “predict,” “project,” “prospects,” “will,” “should,” “would” and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections made by management about our business, our industry and other conditions affecting our financial condition, results of operations or business prospects. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, the forward-looking statements due to numerous risks and uncertainties. Factors that could cause such outcomes and results to differ include, but are not limited to, risks and uncertainties arising from: our reliance on individual purchase orders, rather than long-term contracts, to generate revenue; our ability to balance the composition of our revenues and effectively control operating expenses; external factors that may be outside our control, including health emergencies, like epidemics or pandemics, geopolitical conflicts, price inflation, interest rate increases and supply chain disruptions; the availability of appropriate financing facilities impacting our operations, financial condition and/or liquidity; our ability to receive contract awards through competitive bidding processes; our ability to maintain standards to enable us to manufacture products to exacting specifications; our ability to enter new markets for our services; our reliance on a small number of customers for a significant percentage of our business; competitive pressures in the markets we serve; changes in the availability or cost of raw materials and energy for our production facilities; restrictions in our ability to operate our business due to our outstanding indebtedness; government tariffs, regulations and requirements; pricing and business development difficulties; changes in government spending on national defense; our ability to make acquisitions and successfully integrate those acquisitions with our business; our failure to maintain effective internal controls over financial reporting; general industry and market conditions and growth rates; and other risks discussed in the Company’s periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law. Investors should evaluate any statements made by us in light of these important factors.

TECHPRECISION CORPORATION

CONDENSED CONSOLIDATED BALANCE SHEETS

		(Unaudited) June 30,				March 31,
(dollars in thousands, except share and per share data)		2026				2026
ASSETS
Current assets:
Cash		$	279			$	431
Accounts receivable			3,073				2,488
Contract assets			10,400				10,808
Raw materials			2,025				1,927
Work-in-process			1,155				1,027
Other current assets			396				1,045
Total current assets			17,328				17,726
Property, plant and equipment, net			10,382				10,874
Right of use asset, net			3,407				3,550
Other noncurrent assets			122				122
Total assets		$	31,239			$	32,272
LIABILITIES AND STOCKHOLDERS’ EQUITY:
Current liabilities:
Accounts payable		$	3,452			$	2,415
Accrued expenses			4,022				3,868
Income taxes payable			31				31
Contract liabilities			2,935				2,917
Customer deposits			1,252				1,252
Current portion of long-term lease liability			817				800
Current portion of long-term debt, net			4,865				6,884
Total current liabilities			17,374				18,167
Long-term lease liability			2,697				2,864
Other noncurrent liability			3,556				3,568
Total liabilities			23,627				24,599
Stockholders’ Equity:
Common stock - par value $.0001 per share, 50,000,000 shares authorized: Shares issued and outstanding: June 30, 2026 – 10,133,261 and 10,100,311; March 31, 2026 – 10,078,381 and 10,024,469, respectively.			1				1
Additional paid in capital			19,574				19,482
Accumulated deficit			(11,963	)			(11,810	)
Total stockholders’ equity			7,612				7,673
Total liabilities and stockholders’ equity		$	31,239			$	32,272

 TECHPRECISION CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

		Three months ended June 30,
(dollars in thousands, except share and per share data)		2026				2025
Revenue		$	9,096			$	7,379
Cost of revenue			7,696				6,349
Gross profit			1,400				1,030
Selling, general and administrative			1,445				1,493
Loss from operations			(45	)			(463	)
Other (expense) income			(2	)			1
Interest expense			(106	)			(135	)
Total other expense, net			(108	)			(134	)
Loss before income taxes			(153	)			(597	)
Income tax expense (benefit)			---				---
Net loss		$	(153	)		$	(597	)
Net loss per share – basic and diluted		$	(0.02	)		$	(0.06	)
Weighted average number of shares outstanding – basic and diluted			10,100,311				9,757,846

TECHPRECISION CORPORATION

REVENUE, COST OF REVENUE, GROSS PROFIT BY SEGMENT

(Unaudited)

		June 30, 2026								June 30, 2025								Changes
						Percent of								Percent of
(dollars in thousands)		Amount				Revenue				Amount				Revenue				Amount				Percent
Revenue
Ranor		$	5,461				60	%		$	4,297				58	%		$	1,164				27	%
Stadco			4,064				45	%			3,332				45	%			732				22	%
Intersegment elimination			(429	)			(5	)%			(250	)			(3	)%			(179	)			(72	)%
Consolidated Revenue		$	9,096				100	%		$	7,379				100	%		$	1,717				23	%
Cost of revenue
Ranor		$	4,315				48	%		$	2,804				39	%		$	1,511				54	%
Stadco			3,795				42	%			3,795				52	%			---				---	%
Intersegment elimination			(414	)			(4	)%			(250	)			(5	)%			(164	)			(66	)%
Consolidated Cost of revenue		$	7,696				86	%		$	6,349				86	%		$	1,347				21	%
Gross profit (loss)1
Ranor		$	1,560				17	%		$	1,493				20	%		$	67				4	%
Stadco			(160	)			(2	)%			(463	)			(6	)%			303				65	%
Consolidated Gross profit		$	1,400				15	%		$	1,030				14	%		$	370				36	%

¹Net of intersegment eliminations

TECHPRECISION CORPORATION

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(Unaudited)

		Three Months Ended June 30,
(in thousands)		2026				2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss		$	(153	)		$	(597	)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization			698				701
Amortization of debt issue costs			14				29
Stock based compensation expense			92				69
Change in contract loss provision			178				(250	)
Loss on disposal of fixed assets			2				---
Changes in operating assets and liabilities:
Accounts receivable			(585	)			(602	)
Contract assets			408				510
Work-in-process and raw materials			(226	)			(337	)
Other current assets			649				85
Accounts payable			1,037				178
Accrued expenses			(222	)			67
Contract liabilities			18				922
Other noncurrent liabilities			(12	)			(129	)
Net cash provided by operating activities			1,898				646
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment			(2,436	)			(1,250	)
Reimbursements for purchases of property, plant and equipment			2,420				2,226
Net cash (used in) provided by investing activities			(16	)			976
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt issue costs			(13	)			(17	)
Revolver loan borrowings			6,553				2,755
Revolver loan payments			(8,400	)			(4,241	)
Payments of principal for leases			(1	)			(2	)
Repayments of long-term debt			(173	)			(169	)
Net cash used in financing activities			(2,034	)			(1,674	)
Net decrease in cash			(152	)			(52	)
Cash - beginning of period			431				195
Cash - end of period		$	279			$	143

EBITDA Non-GAAP Financial Measure

		Three Months ended June 30,
(dollars in thousands)		2026				2025				Change
Net loss		$	(153	)		$	(597	)		$	444
Interest expense (1)			106				135				(29	)
Depreciation and amortization			698				701				(3	)
EBITDA		$	651			$	239			$	412

(1) Includes amortization of debt issue costs

Filing Exhibits & Attachments

4 documents

Press Releases

• EX-99.1 EXHIBIT 99.1 137.9 KB

Other Documents

• EX-101 XBRL TAXONOMY EXTENSION SCHEMA 2.9 KB
• EX-101 XBRL TAXONOMY EXTENSION LABEL LINKBASE 33.4 KB
• EX-101 XBRL TAXONOMY EXTENSION PRESENTATION LINKBASE 21.8 KB