Q2 2023 Financial Results Conference Call Forward-Looking Statements Non-GAAP Financial Measures and Forward-Looking Non-GAAP Financial Measures In addition to non-GAAP measures, management uses the following key performance metrics to analyze and measure the Company's financial performance and results of operations: orders and backlog. 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 comp ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2023 or ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File Number 1-36117 inTEST Corporation (Exact Name of Registrant as Specified in its Charter) Delaware (State or other jurisdiction of incorpora ...

inTEST Corporation (NYSE:INTT) Q1 2023 Earnings Conference Call May 5, 2023 8:30 AM ET Company Participants Shawn Southard - IR Nick Grant - President and CEO Duncan Gilmour - CFO and Treasurer Conference Call Participants Jaeson Schmidt - Lake Street Ted Jackson - Northland Securities Tim Moore - EF Hutton Peter Wright - Intro-act Brian Kinstlinger - Alliance Global Partners Operator Greetings, and welcome to the inTEST Corporation's First Quarter 2023 Financial Results. [Operator Instructions] As a remind ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 Delaware 22-2370659 (I.R.S. Employer Identification Number) (State or Other Jurisdiction of Incorporation or Organization) 804 East Gate Drive, Suite 200 Mt. Laurel, New Jersey (Address of Princi ...

inTEST Corporation (NYSE:INTT) Q4 2022 Earnings Conference Call March 3, 2023 8:30 AM ET Company Participants Shawn Southard - Investor Relations Nick Grant - President and Chief Executive Officer Duncan Gilmour - Chief Financial Officer and Treasurer Conference Call Participants Jaeson Schmidt - Lake Street Capital Markets Ted Jackson - Northland Securities Peter Wright - Intro-act Operator Greetings, and welcome to the inTEST Corporation Fourth Quarter 2022 Financial Results. At this time, all participant ...

Q4 2022 Financial Results Conference Call March 3, 2023 Non-GAAP Financial Measures and Forward-Looking Non-GAAP Financial Measures ➢ Solid execution by our results-driven team delivered record performance in 2022 ▪ Innovated in collaboration with our customers and suppliers ➢ Record full year revenue of $116.8 million, 38% y/y growth while organic revenue (non-GAAP)(1) grew 17% y/y Global & Market Expansion Talent & Culture Strategic Acquisitions & Partnerships Service & Support Innovation & Differentiatio ...

inTEST Corporation Southwest IDEAS Conference Nick Grant President and CEO Duncan Gilmour Chief Financial Officer November 16, 2022 Forward-Looking Statements This presentation 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 ...

Orders and Revenue Growth - Total consolidated orders for Q3 2022 were $32.7 million, a 55% increase from $21.1 million in Q3 2021[164]. - For the nine months ended September 30, 2022, total orders reached $98.3 million, up 37% from $71.5 million in the same period of 2021[164]. - The Electronic Test segment generated $11.3 million in orders for Q3 2022, a 52% increase from $7.4 million in Q3 2021[161]. - The Process Technologies segment saw a significant 82% increase in orders, totaling $12.4 million in Q3 2022 compared to $6.8 million in Q3 2021[161]. - The Environmental Technologies segment reported orders of $9.0 million in Q3 2022, a 30% increase from $6.9 million in Q3 2021[161]. - The acquired businesses contributed $4.5 million, or 14% of total orders, in Q3 2022[164]. - The semiconductor market accounted for $19.2 million in orders for Q3 2022, a 44% increase from $13.4 million in Q3 2021[161]. - Life Sciences orders surged 375% to $927,000 in Q3 2022 from $195,000 in Q3 2021[161]. - Defense/Aerospace orders increased by 168% to $3.1 million in Q3 2022 compared to $1.2 million in Q3 2021[161]. - Total revenue for the three months ended September 30, 2022, was $30.8 million, an increase of $9.6 million or 46% compared to $21.1 million for the same period in 2021[177]. - Total revenue for the nine months ended September 30, 2022, was $84.4 million, reflecting an increase of $21.9 million or 35% compared to $62.5 million for the same period in 2021[184]. Backlog and Cash Position - The backlog of unfilled orders as of September 30, 2022, was approximately $47.9 million, significantly up from $20.4 million at the same date in 2021[166]. - As of September 30, 2022, cash, cash equivalents, and restricted cash totaled $10.038 million, down from $21.195 million at December 31, 2021[199]. - Working capital increased to $30.531 million as of September 30, 2022, compared to $27.005 million at December 31, 2021[199]. - The company anticipates that cash and cash equivalents, along with available borrowing capacity, will be sufficient to support short-term working capital requirements[199]. Expenses and Margins - Gross margin for the three months ended September 30, 2022, was 45% of revenue, down from 49% for the same period in 2021, primarily due to increased component material costs[178]. - Selling expenses for the three months ended September 30, 2022, were $4.0 million, an increase of $1.2 million or 41% compared to $2.8 million for the same period in 2021[179]. - Engineering and product development expenses for the three months ended September 30, 2022, were $1.9 million, reflecting an increase of $532,000 or 40% compared to the same period in 2021[180]. - General and administrative expense rose to $14.6 million for the nine months ended September 30, 2022, a 39% increase from $10.6 million in the same period of 2021[188]. - Engineering and product development expense increased to $5.6 million for the nine months ended September 30, 2022, up 41% from $4.0 million in the same period of 2021[187]. Supply Chain and Market Diversification - The company is facing ongoing supply chain challenges due to the war in Ukraine and COVID-19 pandemic, which may impact future revenue and costs[171][172]. - The company is qualifying new vendors and increasing inventory to mitigate supply chain risks and may raise prices due to increased raw material costs[172]. - The company aims to diversify its markets and reduce dependence on the semiconductor market to mitigate volatility[153]. - The automotive market showed a 21% increase in revenue, driven by demand for electric vehicle-related products[167]. Cash Flow and Financing Activities - Net cash used in operations was $3.7 million for the nine months ended September 30, 2022, with net earnings of $5.2 million during the same period[202]. - Net cash used in investing activities was $4.2 million for the nine months ended September 30, 2022, including $3.5 million for U.S. treasury bills[204]. - Net cash used in financing activities totaled $2.8 million for the nine months ended September 30, 2022, primarily due to principal payments on the Term Note[205]. - The company is pursuing acquisition opportunities for complementary businesses, having utilized $20.5 million under the Term Note for recent acquisitions[201].

inTEST Corporation Q3 2022 Financial Results Conference Call Nick Grant, President and CEO Duncan Gilmour, CFO November 4, 2022 Forward-Looking Statements This presentation 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 per ...

Financial Data and Key Metrics Changes - Revenue for Q3 2022 was $30.8 million, a 46% increase year-over-year, with organic growth at 23% [9][15] - Gross margins were 45.2%, reflecting operational inefficiencies and material cost headwinds [18] - GAAP net earnings were $2.5 million or $0.23 per diluted share, with adjusted non-GAAP EPS at $0.28 per share [21][22] - Cash from operations generated was $1.4 million for the quarter, with liquidity standing at approximately $52 million [25][24] Business Line Data and Key Metrics Changes - Sales to the front-end semiconductor market more than doubled year-over-year, particularly in silicon carbide applications [11] - Back-end semiconductor sales increased by 17% year-over-year and 23% sequentially [12] - The EV market showed positive growth, with significant contributions from both organic and acquired businesses [13] Market Data and Key Metrics Changes - Orders for the quarter were up 55% to $32.7 million, with strong demand across semi, defense, security, and life sciences markets [28] - Orders in the semiconductor market increased by 44% year-over-year, with back-end orders achieving 27% growth [29] Company Strategy and Development Direction - The company is focused on executing its 5-Point Strategy to drive growth in target markets and expand its customer base [8][9] - Acquisitions are a key part of the long-term strategy, with an active pipeline of opportunities [36] - The company aims to double its size by 2025 through strategic execution and market expansion [36] Management's Comments on Operating Environment and Future Outlook - Management noted that supply chain challenges impacted Q3 revenue by approximately $1 million, but the team has shown resilience [17] - The company expects Q4 revenue to be in the range of $30 million to $32 million, with gross margins around 45% [32][35] - The backlog reached a record of $47.9 million, with expectations to convert approximately 55% to sales in Q4 [13][31] Other Important Information - The company has expanded its term loan facility by $25.5 million, enhancing financial flexibility [23] - Capital expenditures for the year are expected to be about $1.5 million, up from $600,000 in the previous year [26] Q&A Session Summary Question: Backlog growth and market mix - The backlog mix is similar to Q3 results, indicating strong visibility for Q4 [42][43] Question: Customer engagement and new customers - The company is expanding its customer base through both legacy accounts and new market opportunities [45][46] Question: Gross margin dynamics - The decline in gross margin is attributed to product mix, customer mix, supply chain issues, and foreign exchange impacts [47][48] Question: Service and support monetization - The company is making progress with master service agreements, generating over $1 million in service revenue [61] Question: Cash generation and working capital - Cash from operations is expected to continue positively, with inventory management improving [65][68]