TechPrecision .(TPCS) - 2026 Q2 - Quarterly Results

Financial Performance - FY26 Q2 net income increased by $1.4 million year-over-year to $0.08 per share[1] - Consolidated revenue for Q2 was $9.1 million, a 2% increase primarily due to higher revenue at Stadco[4] - Consolidated gross profit for Q2 was $2.5 million, an increase of $1.4 million driven by improved operating performance at both Ranor and Stadco[4] - Operating income for Q2 was $0.9 million, compared to a loss of $0.5 million in the same period a year ago[4] - Consolidated revenue for the three months ended September 30, 2025, was $9,086,000, a 2% increase from $8,946,000 in the same period of 2024[23] - Gross profit for the six months ended September 30, 2025, reached $3,488,000, representing a 179% increase compared to $1,253,000 in 2024[23] - Net income for the six months ended September 30, 2025, was $228,000, a significant recovery from a net loss of $2,061,000 in the same period of 2024[25] - EBITDA for the three months ended September 30, 2025, was $1,644,000, compared to $209,000 in 2024, marking a substantial increase[26] Revenue and Cost Analysis - Cost of revenue decreased by 16% to $6.6 million, attributed to a favorable product mix at both Ranor and Stadco[4] - Cost of revenue for the three months ended September 30, 2025, decreased to $6,628,000, down 16% from $7,932,000 in 2024[23] - Ranor's revenue for the three months ended September 30, 2025, was $4,373,000, a 9% decrease from $4,790,000 in 2024[23] - Stadco's revenue for the three months ended September 30, 2025, increased by 14% to $4,819,000 from $4,223,000 in 2024[23] Cash and Debt Management - Total debt as of September 30, 2025, was $7.3 million, down from $7.4 million on March 31, 2025[6] - Cash and cash equivalents increased to approximately $0.2 million as of September 30, 2025, from $0.2 million on March 31, 2025[6] - Cash and cash equivalents at the end of the period were $220,000, up from $132,000 at the end of the same period in 2024[25] - The company reported a net cash used in operating activities of $436,000 for the six months ended September 30, 2025, compared to $425,000 in 2024[25] - The company incurred $2,245,000 in capital expenditures for property, plant, and equipment during the six months ended September 30, 2025[25] Expenses - SG&A expenses for Q2 were $1.5 million, a 1% increase due to higher compensation costs[4] - Interest expense increased by 12% primarily due to interest costs for revolver loan borrowings[4] Backlog - Backlog reached $47.8 million as of September 30, 2025, with expectations for delivery over the next one to three fiscal years[3]