inTEST (US:INTT)2026-03-12 20:21Backlog and Orders - As of December 31, 2025, the backlog of unfilled orders was $53.9 million, an increase from $39.5 million at the same date in 2024[98]. - The company’s backlog may be influenced by customer tendencies to rely on short lead times during periods of low demand[98]. Research and Development - The company spent approximately $9.4 million on engineering and product development in 2025, compared to $8.5 million in 2024, reflecting a year-over-year increase of 10.6%[89]. - The company operates in a competitive environment with competitors having greater financial resources and production capabilities, necessitating ongoing investment in R&D and customer support[95]. - The company’s engineering activities are primarily focused on customized products, which are essential for maintaining competitive advantage[89]. Patents and Certifications - At December 31, 2025, the company held 24 active U.S. patents and had two pending applications, with patents expiring between 2026 and 2039[94]. - The Massachusetts, New York, and Canadian facilities are ISO 9001:2015 certified, ensuring compliance with quality management standards[85]. Workforce and Operations - The company employs approximately 100 engineers for product development and has the capacity to hire temporary third-party consultants when needed[87]. - The company has a total of 407 employees, with 385 being full-time, and has not experienced any work stoppages[99]. - The company’s manufacturing operations are located in the U.S., Canada, and Italy, utilizing both standard components and custom parts[83].