inTEST Corporation 2026 Q2 Earnings Call
Review the key takeaways and the transcript of this earnings call.
- In Q2 2026, inTEST Corporation reported revenue of $35.3 million, a 26% increase year over year and a 4% sequential increase from Q1.
- Gross margin in Q2 was approximately 40.5%, down 280 basis points sequentially and 210 basis points year over year due to a shift toward higher revenue, lower margin auto EV projects.
- Operating expenses were $13.9 million in Q2, a decrease of $0.5 million sequentially primarily due to non-recurring restructuring costs in Q1.
- Net income for Q2 was $0.5 million with a net margin of 1.3%, and adjusted EBITDA was $2.2 million, up 73% from Q2 2025.
- Adjusted EPS was $0.09 per diluted share, including a discrete income tax benefit of $0.02 per share from stock option exercises.
- Orders in Q2 were $28.9 million, down 9% sequentially but up 4% year over year, with semiconductor orders increasing 56% sequentially and 64% year over year.
- Backlog at quarter end was $45.4 million, down 12% sequentially but up 20% year over year, with 45% expected to ship beyond Q3.
- Cash and cash equivalents increased to $22.1 million at quarter end, with total liquidity of approximately $62 million and total debt of $6.2 million.
- Leverage ratio was 0.8 times trailing 12-month adjusted EBITDA.
STOCKNOW INSIGHTS
Continue with outlook and guidance.
Log in to unlock executive comments and Q&A highlights.
Log in for the full summaryStockNow uses AI to translate and summarize earnings calls. Accuracy and completeness are not guaranteed.
Transcript
Preview the first five paragraphs, organized by speaker.
Greetings, welcome to the inTEST Corporation second quarter 2026 financial results conference call. At this time, all participants are in a listen-only mode. A question and answer will follow the formal presentation. If anyone should require operator assistance, please press star zero on your telephone keypad. As a reminder, this conference is being recorded. It is now my pleasure to introduce Sanjay Hurry, Investor Relations.
Please go ahead. Good morning, everyone, thank you for joining us.
With me on the call are Rich Rogoff, President and Chief Executive Officer, and Duncan Gilmour, Chief Financial Officer and Treasurer. The earnings press release was issued this morning, as well as the slides that management will use during today's call. Both can be found in the Investor Relations section of the intest.com website. Please turn to slide two for a review of the safe harbor statement. During this call, management may make some forward-looking statements about their current plans, beliefs, and expectations. These statements apply to future events that are subject to risks, uncertainties, and other factors that could cause actual results to differ materially from what is stated here today. These risks, uncertainties, and other factors are provided in the earnings release, as well as in other documents filed by the company with the Securities and Exchange Commission.
These documents can be found on the intest website or at sec.gov. As covered in slide three, management will refer to some non-GAAP financial measures. We believe these will be useful in evaluating the company's performance. However, you should not consider the presentation of this additional information in isolation or as a substitute for results prepared in accordance with GAAP. You can find reconciliations of non-GAAP measures with comparable GAAP measures in the tables that accompany today's release and slides. Before management begins today's discussion on slide four of the presentation, please note that certain first quarter 2026 comparisons in their prepared remarks reflect inTEST's revised Q1 results. As the company announced on July 31, management revised Q1 cost of revenues, gross profits, gross margin, income tax expense, net earnings, and earnings per share, together with their related non-GAAP measures.
Q1 revenue and operating expenses were not affected by the revision. Q1 2026 financials provided as part of this presentation have been revised accordingly. With that, I would now like to turn the call over to our first speaker, Rich Rogoff, President and CEO. Please go ahead, Rich. Thank you, Sanjay.
FULL TRANSCRIPT
Continue the full translated transcript in StockNow.
Log in to unlock every statement, the English original, and speaker-by-speaker history.
Log in for the full transcriptCall participants
7 people spoke on this call — only 1 are shown here.
PARTICIPANT LIST
View participant details in StockNow.
Log in to see executives and analysts, their roles, and complete speaking history.
Log in to view all participantsKeep exploring