- InTest (NYSEAM:INTT) ended Q2 2026 with a profit, marking its third-straight quarter in the black.
- InTest supplies testing and process technology solutions for clients in the semiconductor, automotive, aerospace, defense, industrial, life sciences and safety and security industries.
- The technology stock last traded at US$14.05 and has added 100.43 per cent year-over-year.
InTest (NYSEAM:INTT), a global name in testing and process technology solutions, ended Q2 2026 with a profit, marking its third-straight quarter in the black.
Revenue came in at US$35.3 million, up by US$1.4 million from Q1 and by US$7.2 million year-over-year (YoY), thanks to higher automobile and industrial revenue.
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Gross margin was 40.5 per cent, down by 2.8 per cent from Q1 and by 2.1 per cent YoY, driven by product mix characterized by higher-volume, lower-margin automobile revenue.
Operating expenses fell by US$0.5 million from Q1 due to US$0.7 million in non-recurring restructuring costs associated with InTest’s CEO transition, while they increased by US$1 million YoY due to higher selling, general and administrative and engineering expenses stemming from higher payroll costs.
Net income hit US$0.5 million, or US$0.04 per diluted share, with adjusted net income hitting US$1.1 million, or US$0.09 adjusted per share. This follows a profitable past two quarters, including US$0.789 million in net income in Q1 2026 and US$1.24 million in Q4 2025.
Cash and cash equivalents were US$22.1 million, up by US$6.4 million from Q1, ending the quarter with US$6.3 million in cash from operating activities for working capital purposes.
Concurrently, the company reduced its term debt by US$1 million, leaving it with US$40 million in credit capacity to draw on to pursue growth initiatives.
InTest ended Q2 with a backlog of US$45.4 million, down by 12.4 per cent from Q1, while increasing by 19.8 per cent YoY, with about 45 per cent of the backlog expected to ship after Q3, prompting leadership to make a case in Monday’s news release for continued momentum through the end of the year.
2026 outlook
As per guidance released in July, InTest expects to achieve about 21 per cent YoY revenue growth, up from US$113.8 million in 2025, on modestly reduced gross margins of 43 per cent, driven by diversified demand and improving order flow, which the company intends to translate into more stable adjusted EBITDA as it reaps the benefits of scale.
Leadership commentary
“We delivered second-quarter revenue of US$35.3 million, up 25.5 per cent year-over-year, our third consecutive quarter of sequential growth and our second straight quarter of year-over-year growth above 25 per cent,” Rich Rogoff, President and Chief Executive Officer of InTest, said in a statement. “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 per cent of revenue that drove an approximately 74 per cent increase in Adjusted EBITDA year-over-year. This is the diversified growth profile we are building for InTest.”
“Our leading indicators point to a strengthening second half,” Rogoff added. “Semiconductor orders were the standout and have increased approximately 56 per cent sequentially and approximately 64 per cent 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 a backlog of US$45.4 million, up 19.8 per cent year-over-year, expanding Defense/Aerospace opportunities tied to higher US Department of Defense spending and healthy Auto/EV activity supported by rising electronic content, we entered the third quarter with momentum across our divisions.”
About InTest
InTest supplies testing and process technology solutions for clients in the semiconductor, automotive, aerospace, defense, industrial, life sciences and safety and security industries.
InTest stock (NYSEAM:INTT) last traded at US$14.05 and has added 100.43 per cent year-over-year.
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