InTest Reports Q4 2025 EPS of $0.10 with Revenue of $32.8 Million Amidst Improving Momentum
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 (...
- Orders1 of $37.5 million driven by continued strength in Auto/EV and Life Sciences; Backlog1 up 9.4% sequentially
- Gross margin expanded 350 basis points sequentially to 45.4%
- Nearly 80% of revenue derived from non-semiconductor end markets
- Maintained balance sheet strength; reduced total debt by $7.6 million from December 31, 2024
MT. LAUREL, N.J.: 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 fourth quarter of 2025 ended December 31, 2025.
“Orders remained strong at $37.5 million for the fourth quarter as Auto/EV customers moved forward with new model year programs coupled with the success we are seeing with the diversification in Life Sciences. We continue to see improved customer spending sentiment across our increasingly diversified markets. As a result, our 2025 year-end backlog was a healthy $53.9 million, an increase of 36% from December 31, 2024,” said Nick Grant, President and CEO.
“Revenue exceeded our guidance range and rebounded in the fourth quarter, reflecting the gradual recovery in customer capital spending we saw taking shape in the middle of the year, particularly in the Industrial and Defense/Aerospace end markets. We also benefited from the continued growing acceptance of new products and approximately $2 million in shipments which slipped out of the third quarter. Gross margin reached 45.4%, driven by manufacturing efficiency initiatives undertaken over the course of 2025 and a lift from sales of new products at Alfamation and Acculogic. Notably, we achieved this quarter’s gross margin level despite the sluggishness of our historically significant Semi business,” added Mr. Grant.
“Operationally, we continued to execute on our Vision 2030 Strategy that centers on driving long-term value through innovation, customer diversity and a broader global presence. We believe the success of our market diversification strategy, which has delivered approximately 20% compound average growth rate over the last five years, and our growing momentum with new products position InTest for sustainable profitable growth across multiple end markets.”
Fourth Quarter 2025 Review (see revenue by market and by segments in accompanying tables)
| Three Months Ended | |||||||||||||||||||||||
($ in thousands except percentages and per share data) | December 31, |
| December 31, |
| Change |
| September 30, |
| Change | |||||||||||||||
| 2025 |
|
|
| 2024 |
|
| $ |
| % |
|
| 2025 |
|
| $ |
| % | ||||||
Revenue | $ | 32,822 |
|
| $ | 36,603 |
|
| $ | (3,781 | ) |
| (10.3 | %) |
| $ | 26,236 |
|
| $ | 6,586 |
| 25.1 | % |
Gross profit | $ | 14,899 |
|
| $ | 14,539 |
|
| $ | 360 |
|
| 2.5 | % |
| $ | 10,992 |
|
| $ | 3,907 |
| 35.5 | % |
Gross margin |
| 45.4 | % |
|
| 39.7 | % |
|
|
|
|
|
| 41.9 | % |
|
|
|
| |||||
Operating expenses (including intangible amortization & restructuring) | $ | 13,623 |
|
| $ | 12,460 |
|
| $ | 1,163 |
|
| 9.3 | % |
| $ | 12,185 |
|
| $ | 1,438 |
| 11.8 | % |
Operating income (loss) | $ | 1,276 |
|
| $ | 2,079 |
|
| $ | (803 | ) |
| (38.6 | %) |
| $ | (1,193 | ) |
| $ | 2,469 |
| 207.0 | % |
Operating margin |
| 3.9 | % |
|
| 5.7 | % |
|
|
|
|
|
| (4.5 | %) |
|
|
|
| |||||
Net earnings (loss) | $ | 1,243 |
|
| $ | 1,504 |
|
| $ | (261 | ) |
| (17.4 | %) |
| $ | (938 | ) |
| $ | 2,181 |
| 232.5 | % |
Net margin |
| 3.8 | % |
|
| 4.1 | % |
|
|
|
|
|
| (3.6 | %) |
|
|
|
| |||||
Earnings (loss) per diluted share (“EPS”) | $ | 0.10 |
|
| $ | 0.12 |
|
| $ | (0.02 | ) |
| (16.7 | %) |
| $ | (0.08 | ) |
| $ | 0.18 |
| 225.0 | % |
Adjusted net earnings (loss) (Non-GAAP)2 | $ | 1,953 |
|
| $ | 2,782 |
|
| $ | (829 | ) |
| (29.8 | %) |
| $ | (198 | ) |
| $ | 2,151 |
| 1,086.4 | % |
Adjusted EPS (Non-GAAP)2 | $ | 0.16 |
|
| $ | 0.23 |
|
| $ | (0.07 | ) |
| (30.4 | %) |
| $ | (0.02 | ) |
| $ | 0.18 |
| 900.0 | % |
Adjusted EBITDA (Non-GAAP)2 | $ | 3,192 |
|
| $ | 4,412 |
|
| $ | (1,220 | ) |
| (27.7 | %) |
| $ | 383 |
|
| $ | 2,809 |
| 733.4 | % |
Adjusted EBITDA margin (Non-GAAP)2 |
| 9.7 | % |
|
| 12.1 | % |
|
|
|
|
|
| 1.5 | % |
|
|
|
| |||||
Revenue for the fourth quarter increased $6.6 million over the third quarter, driven by a gradually improving customer capital spending environment across most end-markets and approximately $2.0 million in shipments which slipped out of the third quarter. The net increase was due primarily to gains in Industrial, Defense/Aerospace and Life Sciences offset by continued weakness in Semi.
Compared with the prior-year period, fourth quarter revenue declined $3.8 million. The main drivers were decreases in Semi and Auto/EV sales that were partially mitigated by increases in Industrial and Life Sciences.
Sequentially, gross margin expanded by 350 basis points to 45.4%, driven by volume and favorable contributions from new Alfamation products. The 570-basis point increase compared with the prior-year reflects the negative 430 basis point impact from the acquisition inventory step-up in the prior year period, along with a favorable product mix from Alfamation and the benefits of cost-reduction actions taken throughout the year to improve manufacturing efficiencies.
Sequentially, operating expenses increased $1.4 million primarily due to higher sales commissions and marketing activity. Operating expenses increased $1.2 million from the prior-year period primarily from the impact of the $0.8 million amortization credit related to the finalization of acquisition accounting recognized in the prior year period, along with $0.2 million of current period restructuring costs.
Net income for the fourth quarter was $1.2 million, or $0.10 per diluted share. Adjusted net income (Non-GAAP)2 was $2.0 million, or $0.16 adjusted EPS (Non-GAAP)2.
Fiscal 2025 Review (see revenue by market and by segments in accompanying tables)
| Year Ended | |||||||||||||
($ in thousands except percentages and per share data) | December 31, |
| December 31, |
| Change | |||||||||
| 2025 |
|
|
| 2024 |
|
| $ |
| % | ||||
Revenue | $ | 113,825 |
|
| $ | 130,690 |
|
| $ | (16,865 | ) |
| (12.9 | %) |
Gross profit | $ | 48,920 |
|
| $ | 55,424 |
|
| $ | (6,504 | ) |
| (11.7 | %) |
Gross margin |
| 43.0 | % |
|
| 42.4 | % |
|
|
|
| |||
Operating expenses (including intangible amortization & restructuring) | $ | 52,645 |
|
| $ | 52,030 |
|
| $ | 615 |
|
| 1.2 | % |
Operating (loss) income | $ | (3,725 | ) |
| $ | 3,394 |
|
| $ | (7,119 | ) |
| (209.8 | %) |
Operating margin |
| (3.3 | %) |
|
| 2.6 | % |
|
|
|
| |||
Net (loss) earnings | $ | (2,527 | ) |
| $ | 2,891 |
|
| $ | (5,418 | ) |
| (187.4 | %) |
Net margin |
| (2.2 | %) |
|
| 2.2 | % |
|
|
|
| |||
(Loss) earnings per diluted share (“EPS”) | $ | If you liked this article and want to stay up to date with news from InnovationOpenLab.com subscribe to ours Free newsletter. Related news
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