Revenue and Financial Performance - Consolidated revenue for the three months ended December 31, 2024, was $7,622, a decrease of $28 or less than 1% compared to $7,650 for the same period in 2023[145]. - Ranor's revenue increased by $14 to $4,310 for the three months ended December 31, 2024, reflecting a percentage change of less than 1%[146]. - Stadco's revenue decreased by $58 to $3,312 for the three months ended December 31, 2024, representing a 2% decline[147]. - For the nine months ended December 31, 2024, consolidated revenue was $24,554, a 7% increase compared to $22,991 for the same period in 2023[164]. - Stadco's revenue for the nine months ended December 31, 2024, was $11,139 million, a 12% increase from $9,943 million in the same period of 2023[167]. Profitability and Losses - Consolidated gross profit decreased by $170 to $991 for the three months ended December 31, 2024, resulting in a gross margin of 13%, down from 15% in the same period last year[148]. - Operating loss for the three months ended December 31, 2024, was $696, an improvement of $300 compared to an operating loss of $996 for the same period in 2023[154]. - Ranor's operating income increased by $34 or 3% due to favorable operating execution and throughput[155]. - Stadco's operating loss increased by $340 or 66% due to ongoing production issues impacting throughput[156]. - Operating loss for the nine months ended December 31, 2024, was $2,525 million, a 16% increase compared to the same period in 2023[176]. - Net loss for the nine months ended December 31, 2024, was $2,860 million, or $0.30 per share, compared to a net loss of $1,921 million, or $0.22 per share, in the same period of 2023[183]. - The Company reported a net loss of $799 for the three months ended December 31, 2024, compared to a net loss of $865 for the same period in 2023, reflecting a change of $66[214]. - EBITDA for the three months ended December 31, 2024, was $51, a significant improvement from a negative EBITDA of $364 in the same period of 2023[214]. Backlog and Order Flow - Consolidated backlog as of December 31, 2024, was $45,522, indicating strong project order flow from prime defense contractors[164]. - Ranor's backlog increased to $20,344 million as of December 31, 2024, up from $18,497 million in 2023[166]. Expenses and Cost Management - Consolidated selling, general and administrative expenses decreased by $470 or 22% primarily due to the absence of due diligence work on acquisitions[151]. - Consolidated SG&A expenses decreased by $295 million, or 6%, primarily due to the absence of due diligence work on acquisitions[172]. - The Company plans to closely monitor expenses and may reduce operating costs to enhance liquidity[209]. Liquidity and Capital Management - Total available liquidity as of December 31, 2024, was approximately $330 million, consisting of $165 million in undrawn capacity under the Revolver Loan and $165 million in available cash[185]. - Cash used in operating activities for the nine months ended December 31, 2024, was $995 million, compared to cash provided of $1,180 million in the same period of 2023[189]. - The Company raised approximately $1,801 through a private placement of common stock and warrants to raise working capital[207]. - The Company is exploring various means to strengthen its liquidity position, including making Stadco operations profitable and renewing the revolver loan[206]. - The Company has outstanding debt obligations totaling $7,327 classified as current due to debt covenant violations[215]. - The Revolver Loan maturity has been extended multiple times, with the latest extension to April 30, 2025[203]. - The maturity date of the Revolver Loan was extended from May 24, 2024, to August 30, 2024, with a reduction in the maximum principal amount from $5 million to $4.5 million[127]. Risks and Compliance - The company has faced risks related to reliance on individual purchase orders and external factors such as supply chain inefficiencies and price inflation[107]. - The company is registered and compliant with ITAR, ensuring adherence to U.S. defense regulations[115]. - The uncertainty surrounding recurring operating losses at Stadco raises substantial doubt about the Company's ability to continue as a going concern for at least one year[210]. - The Company acknowledges an Existing Default due to failure to meet the required minimum Debt Service Coverage Ratio for the twelve-month periods ending March 31, 2024, and December 31, 2024[204]. Investments and Capital Expenditures - The company invested $2,796 million in new factory machinery and equipment for the nine months ended December 31, 2024[191]. - The company issued 320,000 shares as a Stock Termination Fee following the termination of the Votaw acquisition agreement[126]. Shareholder Actions - The company entered into a Securities Purchase Agreement on July 3, 2024, selling 521,800 shares and warrants for a total of $1.801 million, aimed at raising working capital[130]. - The company has filed a registration statement with the SEC for the resale of shares, which was declared effective on January 31, 2025[131].

Revenue Performance - Third quarter consolidated revenue was $7.6 million, a decrease of less than 1% compared to $7.7 million in the same period last year[4] - For the nine months ended December 31, 2024, revenue was $24.6 million, a 7% increase compared to $22.99 million in the prior year[7] - Consolidated revenue for the year ended December 31, 2024, was $7,622 million, a decrease of $28 million or approximately 0.4% compared to $7,650 million in 2023[24] - For the nine months ended December 31, 2024, consolidated revenue was $24,554 million, an increase of $1,562 million or 7% from $22,991 million in 2023[26] - Ranor's revenue increased by $14 million to $4,310 million, representing 57% of total revenue, while Stadco's revenue decreased by $58 million to $3,312 million, accounting for 43% of total revenue[24] Profitability - Gross profit for the quarter was $1.0 million, representing a 15% decrease from the previous year[7] - Consolidated gross profit decreased by $170 million to $991 million, resulting in a gross margin of 13%, down from 15% in the previous year[24] - Ranor's gross profit increased by $563 million to $4,266 million, while Stadco reported a gross loss of $2,022 million, a decline of $1,209 million[26] - EBITDA for the three months ended December 31, 2024, was $51 million, a significant improvement from a loss of $364 million in the same period of 2023[29] Costs and Expenses - Cost of revenue increased by 2% to $6.6 million, primarily due to higher production costs at the Stadco segment[7] - Consolidated cost of revenue increased by $142 million to $6,631 million, representing 87% of total revenue, up from 85% in the previous year[24] - SG&A expenses decreased by 22% to $1.7 million due to the absence of due diligence costs for acquisitions[7] Net Loss and Financial Position - Net loss for the quarter was $0.8 million, with a full valuation maintained on deferred tax assets[7] - The net loss for the nine months ended December 31, 2024, was $2,860 million, compared to a net loss of $1,921 million in 2023[28] - Working capital was negative $1.8 million as of December 31, 2024, compared to negative $2.9 million on March 31, 2024[8] - Total debt as of December 31, 2024, was $7.4 million, down from $7.6 million on March 31, 2024[8] - Cash and cash equivalents at the end of the period were $165 million, down from $391 million at the beginning of the period[28] Backlog and Future Expectations - The backlog as of December 31, 2024, was $45.5 million, indicating strong customer confidence[4] - The company expects to deliver its backlog over the next one to three fiscal years with gross margin expansion[4] -

Financial Data and Key Metrics Changes - The company reported its Q2 2025 financial results during the conference call, with specific emphasis on the changes in financial metrics [1][2]. - Management highlighted the importance of understanding the risks and uncertainties associated with forward-looking statements, which may impact actual results [2][3]. Business Line Data and Key Metrics Changes - Specific details regarding the performance of various business lines were not disclosed in the provided excerpts [1][2]. Market Data and Key Metrics Changes - The conference call did not provide detailed market data or key metrics changes relevant to different markets [1][2]. Company Strategy and Development Direction - The company’s strategic direction and competitive positioning were not explicitly discussed in the provided excerpts [1][2]. Management Comments on Operating Environment and Future Outlook - Management acknowledged the potential risks and uncertainties that could affect future performance, emphasizing the need for caution in interpreting forward-looking statements [2][3]. Other Important Information - The company held its Annual Meeting of Stockholders on December 19, 2024, where six directors were elected, indicating ongoing governance and leadership changes [4]. Q&A Session Summary Question: What are the implications of the recent director elections? - The management did not provide specific insights into the implications of the recent director elections during the call [1][2].

Revenue and Financial Performance - Consolidated revenue for the three months ended September 30, 2024, was $8,946 million, a 12% increase from $7,970 million in the same period of 2023[135]. - Ranor's revenue increased by $295 million, or 7%, to $4,790 million, while Stadco's revenue rose by $617 million, or 17%, to $4,223 million[135][136]. - Consolidated revenue for the six months ended September 30, 2024, was $16,932 million, a 10% increase from $15,341 million in the same period of 2023[153]. - Stadco reported revenue of $7,827 for the six months ended September 30, 2024, an increase of $1,254, or 19%, compared to $6,573 for the same period in 2023[156]. Profitability and Losses - Consolidated gross profit decreased by $21 million, or 2%, to $1,014 million, with a gross margin of 11% compared to 13% in the prior year[137]. - Ranor's gross profit increased by $474 million, with a gross margin improvement to 17% from 13% year-over-year[138]. - Stadco reported a gross profit loss of $504 million, with a gross margin of (6)%, down from 0% in the same period last year[139]. - For the three months ended September 30, 2024, the operating loss was $488 million, an improvement of $109 million compared to the operating loss of $597 million in the same period of 2023[143]. - The net loss for the three months ended September 30, 2024, was $601 million, or $0.06 per share, compared to a net loss of $528 million, also $0.06 per share, in the prior year[151]. - The company recorded a net loss of $2,061, or $0.22 per share, for the six months ended September 30, 2024, compared to a net loss of $1,056, or $0.12 per share, for the same period in 2023[170]. - EBITDA for the six months ended September 30, 2024, was negative $425,000, compared to negative $8,000 for the same period in 2023, indicating a decline of $417,000[208]. Operational Highlights - The company has a manufacturing facility of 145,000 square feet in Massachusetts, capable of producing precision components weighing up to 100 tons[104]. - The company primarily targets repeating custom programs with stable designs, focusing on long-term solutions for customers[110]. - The backlog at Ranor increased to $21,714 million as of September 30, 2024, compared to $19,125 million in the same period of 2023[155]. - Stadco's backlog increased to $26,927 as of September 30, 2024, from $25,543 in 2023, indicating strong demand for components related to various programs[157]. Liquidity and Financing - The company entered into a Securities Purchase Agreement on July 3, 2024, selling 521,800 shares and warrants for a total of $1.801 million, aimed at raising working capital[122]. - As of September 30, 2024, total available liquidity was approximately $1,275, consisting of $1,143 in undrawn capacity under the Revolver Loan and $132 in cash[172]. - The company invested $1,622 in new factory machinery and equipment for the six months ended September 30, 2024, down from $2,659 in the same period in 2023[180]. - The Company is exploring various means to strengthen its liquidity position, including making Stadco operations profitable and renewing the revolver loan[199]. - The maturity date of the Revolver Loan has been extended multiple times, with the latest extension to April 30, 2025[193]. Compliance and Regulatory Matters - The company is registered and compliant with ITAR, ensuring adherence to U.S. defense regulations[105]. - The Company acknowledges an Existing Default due to failure to meet the required minimum Debt Service Coverage Ratio for the twelve-month periods ending March 31, 2024, and September 30, 2024[194]. Risks and Challenges - The company has faced risks related to reliance on individual purchase orders and external factors such as supply chain inefficiencies and government regulations[100]. - The uncertainty surrounding recurring operating losses at Stadco raises substantial doubt about the Company's ability to continue as a going concern for at least one year[202]. - The Company plans to monitor expenses closely and may reduce operating costs to enhance liquidity[201].

Revenue Performance - Second quarter consolidated revenue was $8.9 million, a 12% increase compared to $8.0 million in the same period last year[4] - For the six months ended September 30, 2024, revenue was $16.9 million, a 10% increase from $15.3 million in the prior year[13] - Consolidated revenue for the six months ended September 30, 2024, was $16,932 million, a 10% increase from $15,341 million in the same period of 2023[23] - Ranor's revenue increased by 2% to $9,172 million, while Stadco's revenue rose by 19% to $7,827 million for the six months ended September 30, 2024[23] Cost and Profitability - Cost of revenue was $7.9 million, up 14% primarily due to higher production costs at Stadco[5] - Consolidated cost of revenue for the six months ended September 30, 2024, was $15,679 million, reflecting a 15% increase from $13,612 million in 2023[23] - Gross profit was $1.0 million, a 2% decrease compared to the same period a year ago[5] - Consolidated gross profit decreased by 28% to $1,253 million for the six months ended September 30, 2024, compared to $1,729 million in 2023[23] Losses and Financial Position - The company reported a net loss of $0.6 million, maintaining a full valuation on its deferred tax assets[5] - The net loss for the six months ended September 30, 2024, was $2,061 million, compared to a net loss of $1,056 million in the same period of 2023[25] - The operating loss for the six months was $1.8 million, an increase of $0.6 million primarily due to losses at Stadco[13] - EBITDA for the six months ended September 30, 2024, was negative at $(425) million, a decline from $(8) million in 2023[27] Working Capital and Debt - Working capital was negative $1.5 million, with total debt amounting to $7.2 million[7] - Cash and cash equivalents at the end of the period were $132 million, down from $138 million at the beginning of the period[25] - The company reported a significant increase in accounts payable by $1,741 million for the six months ended September 30, 2024[25] Capital Expenditures and Financing - The company incurred $1,622 million in capital expenditures for property, plant, and equipment during the six months ended September 30, 2024[25] - The company raised $1,801 million through a private placement during the financing activities[25] Backlog and Future Expectations - As of September 30, 2024, the company had a backlog of $48.6 million, indicating strong customer confidence[4] - The company expects to deliver its backlog over the next one to three fiscal years with gross margin expansion[4] SG&A Expenses - SG&A expenses totaled $1.5 million, an 8% decrease due to reduced spending on outside advisory services[5]

Core Viewpoint - TechPrecision Corporation has scheduled a conference call to discuss its financial results for the second quarter of fiscal year 2025, indicating a focus on transparency and communication with stakeholders [1] Financial Results - The conference call will provide insights into the company's financial performance, including revenue, profit margins, and other key financial metrics for the second quarter [1] - The specific date and time for the conference call have been announced, allowing investors and analysts to prepare for the discussion [1] Company Communication - The scheduling of the conference call reflects the company's commitment to keeping investors informed about its financial health and operational developments [1] - This proactive approach may enhance investor confidence and engagement with the company's strategic direction [1]

Financial Data and Key Metrics Changes - The company is currently in a quiet period and has not released the fiscal year 2025 second quarter financials, limiting the ability to discuss financial specifics [6]. Business Line Data and Key Metrics Changes - No specific data on business lines was provided during the call due to the ongoing quiet period [6]. Market Data and Key Metrics Changes - There were no updates on market data or key metrics as the company is in a quiet period [6]. Company Strategy and Development Direction and Industry Competition - The company is facing a pending proxy contest, which may influence its strategic direction and competitive positioning [6]. Management's Comments on Operating Environment and Future Outlook - Management refrained from discussing future performance estimates due to the quiet period and pending proxy contest [6]. Other Important Information - The call included a reminder about the forward-looking statements and the associated risks and uncertainties [3][4]. Q&A Session All Questions and Answers - No Q&A session was conducted during this call as the company is in a quiet period [6].

Revenue Performance - Revenue for the first quarter of FY 2025 was $8.0 million, an increase of 8% compared to $7.4 million in the same period of FY 2024[4] - Consolidated revenue for the three months ended June 30, 2024, was $7,986,000, an increase of 8% compared to $7,371,000 for the same period in 2023[18] Cost and Profitability - The cost of revenue increased by 16% to $7.7 million, primarily due to higher production costs at Stadco[4] - The cost of revenue increased to $7,747,000, representing a 16% increase from $6,677,000 in the prior year[18] - Gross profit decreased by 66% to $238,000, attributed to higher production costs and under-absorbed overhead at Stadco[4] - Gross profit decreased significantly to $238,000, down 66% from $694,000 in the same quarter of 2023[18] - EBITDA for the three months ended June 30, 2024, was negative $634,000, a decline of $615,000 from negative $19,000 in the prior year[22] Losses and Financial Health - The operating loss for the first quarter was $1.3 million, compared to a loss of $0.6 million in the same quarter of the previous year[4] - The net loss for the quarter was $1.5 million, with a full valuation maintained on deferred tax assets[4] - The net loss for the three months ended June 30, 2024, was $1,460,160, compared to a net loss of $527,455 for the same period in 2023[19] Cash and Working Capital - Cash and cash equivalents decreased to approximately $45,000, down $93,000 since March 31, 2024[5] - Cash and cash equivalents at the end of the period were $44,797, a decrease from $271,918 at the end of June 2023[19] - Working capital was negative $1.7 million as of June 30, 2024, with total debt at $7.5 million[5] Expenses and Fees - SG&A expenses totaled $1.6 million, an increase from $1.3 million in the same period last year, primarily due to a $0.4 million breakup fee related to the terminated Votaw acquisition[4] - The company recognized a one-time non-cash breakup fee of $0.4 million from the termination of the Votaw acquisition, impacting the bottom line for the first quarter[3] - The company incurred $116,423 in cash paid for interest, net of amounts capitalized, compared to $94,087 in the prior year[19] Accounts Payable and Cash Flow - The company reported a significant increase in accounts payable, totaling $2,209,214, compared to a decrease of $1,480,387 in the previous year[19] - The company experienced a cash outflow of $30,905 from investing activities, a significant reduction from $1,854,002 in the same quarter of 2023[19] Customer Confidence - Customer confidence remains high with a backlog of $41.2 million as of June 30, 2024, expected to be delivered over the next one to three fiscal years[3] Fair Value Changes - The company reported a change in fair value of stock acquisition termination fee amounting to $419,200, which was not present in the previous year[19]

Revenue and Financial Performance - Consolidated revenue for the three months ended June 30, 2024, was $7.986 million, an increase of 8% compared to $7.371 million for the same period in 2023[131]. - Ranor's revenue decreased by $0.1 million, or 3%, to $4.382 million for the three months ended June 30, 2024, while Stadco's revenue increased by $0.6 million, or 21%, to $3.604 million[132][133]. - Consolidated gross profit for the three months ended June 30, 2024, was $238,000, a decrease of $455,000, or 66%, compared to $694,000 for the same period in 2023, resulting in a gross margin of 3.0%[135]. - The company reported an operating loss of $1.341 million for the three months ended June 30, 2024, which is $0.761 million higher than the operating loss of $0.580 million for the same period in 2023[141]. - The net loss for the three months ended June 30, 2024, was $1.5 million, or $0.16 per share, compared to a net loss of $527,455, or $0.06 per share for the same period in 2023[149]. - EBITDA for the three months ended June 30, 2024, was negative $634,000, a decrease of $615,000 from negative $19,000 in the same period in 2023[182]. Liquidity and Debt Management - As of June 30, 2024, the company had approximately $1.6 million in total available liquidity, consisting primarily of $1.5 million in undrawn capacity under its Revolver Loan[151]. - The company is exploring various means to strengthen its liquidity position, including making Stadco operations profitable and renewing the Revolver Loan[172]. - The company must renew its revolver loan or seek alternative financing by January 15, 2025, to continue operations beyond the next twelve months[174]. - The company's debt obligations totaled $7.5 million, classified as current due to debt covenant violations[177]. - The company has approximately $1.5 million of unused borrowing capacity under the Revolver Loan as of June 30, 2024, up from $0.5 million on March 31, 2024[152]. - Interest expense increased by approximately $39,313, or 52%, to $114,638 for the three months ended June 30, 2024, primarily due to increased borrowings under the revolver loan[145]. Operational Focus and Compliance - The company focuses on custom manufacturing according to customer specifications, with no distribution of components on the open market[109]. - The company primarily targets repeating custom programs for stable designs, with secondary activities including one-off requirements[110]. - The company is registered and compliant with ITAR, ensuring adherence to defense industry regulations[105][108]. - The company has a critical focus on maintaining effective internal controls over financial reporting to ensure compliance and accuracy[114]. - The company's operations, assets, and customers are all located in the U.S., emphasizing its domestic focus[113]. Backlog and Future Commitments - The backlog for Ranor was $18.8 million as of June 30, 2024, down from $21.8 million in the previous year, while Stadco's backlog was $22.4 million, down from $24.5 million[132][134]. - Outstanding unconditional contractual commitments for raw materials and supplies amounted to approximately $8.7 million, all due within the next twelve months[178]. - Lease obligations for buildings totaled $5.6 million through 2030, with approximately $0.9 million due annually for the next six years[179]. Capital Expenditures and Investments - The company invested approximately $0.2 million in new factory machinery and equipment during the three months ended June 30, 2024, a significant decrease from $1.9 million in the same period in 2023[158]. - The company is currently in violation of its Loan Agreement due to exceeding the capital expenditure limit of $1.5 million[170]. Management and Strategic Outlook - The company plans to closely monitor expenses and may reduce operating costs to enhance liquidity[174]. - The company is facing substantial doubt about its ability to continue as a going concern for at least one year due to recurring operating losses and financing uncertainties[175]. - EBITDA is considered an important measure of operating performance, but it has limitations and should not be viewed in isolation from U.S. GAAP results[180].

Financial Performance - Q4 FY2024 consolidated net sales were $8.6 million, a 15% increase from $7.5 million in Q4 FY2023 [3]. - Stadco's net sales in Q4 FY2024 reached $4.6 million, representing a 70% increase year-over-year [3]. - For the full fiscal year 2024, consolidated net sales were $31.6 million, a 1% increase compared to $31.4 million in FY2023 [5]. - Consolidated net sales for the three months ended March 31, 2024, increased by 15% to $8,600,000 compared to $7,505,000 for the same period in 2023 [11]. - Stadco segment net sales rose significantly by 70% to $4,625,000 for the three months ended March 31, 2024, compared to $2,719,000 in the prior year [11]. - For the twelve months ended March 31, 2024, consolidated net sales were $31,591,000, a slight increase of 1% from $31,432,000 in 2023 [12]. Profitability and Loss - Gross profit for Q4 FY2024 was $1.2 million, a 45% increase from $847,883 in Q4 FY2023 [4]. - Consolidated gross profit for the three months ended March 31, 2024, was $1,228,000, a 45% increase from $848,000 in the same period of 2023 [11]. - Operating loss for FY2024 was $4.6 million, compared to a loss of $1.1 million in FY2023 [5]. - Net loss for FY2024 was $7.0 million, compared to a net loss of $979,006 in FY2023 [10]. - The Ranor segment reported a net loss of $7,042,172 for the year ended March 31, 2024, compared to a net loss of $979,006 in the previous year [13]. - EBITDA for the twelve months ended March 31, 2024, was $(2,160,000), a decrease from $1,790,000 in the previous year [14]. Expenses and Liabilities - SG&A expenses rose to $3.7 million in Q4 FY2024, primarily due to a $1.1 million breakup fee related to the terminated Votaw acquisition [4]. - Total liabilities increased to $26.9 million as of March 31, 2024, compared to $21.6 million a year earlier [9]. - The company incurred depreciation and amortization expenses of $2,429,377 for the year ended March 31, 2024, compared to $2,217,472 in the previous year [13]. - The net cash used in investing activities for the year ended March 31, 2024, was $3,168,293, compared to $2,318,301 in 2023 [13]. Cash Flow and Financial Position - As of March 31, 2024, the company had $0.1 million in cash, a decrease of $0.4 million from the previous year [6]. - Cash flows from operating activities for the year ended March 31, 2024, provided $1,304,864, down from $3,137,838 in 2023 [13]. - The company reported a significant increase in contract liabilities, totaling $1,454,342 for the year ended March 31, 2024, compared to $568,273 in 2023 [13]. Backlog and Customer Confidence - Backlog increased to $50 million, indicating strong customer confidence [2].