Core Insights - Thermon Group Holdings, Inc. reported record revenue, profitability, and bookings for Q3 2026, reflecting strong end-market demand and effective execution across its global organization [1] Financial Performance - Revenue reached $147.3 million, an increase of 9.6% compared to the prior year [1] - Gross profit was $68.7 million, up 10.5%, with a gross margin of 46.6% [1] - Net income was $18.3 million, a slight decrease of 1.1%, translating to $0.55 earnings per diluted share [1] - Adjusted net income (non-GAAP) increased by 15.3% to $21.9 million, with an adjusted EPS of $0.66 [1] - Adjusted EBITDA (non-GAAP) was $35.6 million, reflecting an 11.9% increase, and an adjusted EBITDA margin of 24.2% [1] Orders and Bookings - New orders totaled $158.2 million, representing a 14.1% increase [1] - The book-to-bill ratio stood at 1.1x, indicating a healthy order intake relative to revenue [1] Leverage and Financial Health - The net leverage ratio was reported at 0.8x, indicating a strong balance sheet position [1]

Core Viewpoint - Acuity Inc. has announced a 17% increase in its quarterly dividend, raising it from 17 cents to 20 cents per share, payable on February 13, 2026 [1] Company Overview - Acuity Inc. is a leading industrial technology company focused on solving problems related to spaces and lighting through innovative technology [2] - The company operates through two main segments: Acuity Brands Lighting (ABL) and Acuity Intelligent Spaces (AIS), providing products and services that significantly impact people's lives [2] Growth Strategy - Acuity Inc. aims for growth by developing innovative products and services, including lighting, lighting controls, building management solutions, and an audio, video, and control platform [3] - The company emphasizes customer outcomes to drive growth and productivity, thereby increasing market share and delivering superior returns [3] - Acuity Inc. plans to aggressively deploy capital to expand its business and enter attractive new verticals [3] Operational Footprint - Acuity Inc. is headquartered in Atlanta, Georgia, with operations spanning North America, Europe, and Asia [4] - The company employs approximately 13,000 dedicated associates [4]

Company Overview - IPG Photonics Corporation is a leading provider of high-performance fiber laser technology, serving global industrial and communications markets [8] - The company generates revenue by designing, manufacturing, and selling laser and photonics solutions to original equipment manufacturers, system integrators, and end users worldwide, targeting industrial, telecommunications, and data center customers [12] Financial Performance - In the third quarter, IPG reported revenue of $250.8 million, up 8% year over year, with a gross margin improvement to 39.5% [10] - The company returned to GAAP profitability with a net income of $7.5 million, compared to a significant loss a year earlier [10] - Adjusted EBITDA rose to $37 million, supported by stronger materials processing demand and improving cost absorption [10] Investment Activity - S Squared Technology increased its holding in IPG Photonics by 45,050 shares, bringing its total to 118,916 shares valued at $9.4 million as of September 30 [3][6] - The reported value of S Squared's position grew by approximately $4.4 million from the previous period [3][6] - The IPG Photonics stake represents about 3.6% of S Squared's 13F reportable assets under management (AUM) [4] Market Context - As of the latest report, shares of IPG Photonics were priced at $76.34, up about 2.5% over the past year, but underperforming the S&P 500, which is up 16% in the same period [4] - The company has faced challenges with cyclical demand and restructuring costs, leading to shares being down roughly 70% from early-pandemic levels [9] - Management highlighted a book-to-bill ratio near one, indicating stable end-market conditions heading into the fourth quarter [10] Strategic Positioning - IPG Photonics offers high-performance fiber lasers, amplifiers, diode lasers, and integrated laser systems primarily for materials processing, communications, and advanced applications [5] - The company's balance sheet strength, improving margins, and exposure to automation and advanced manufacturing could offer upside for patient investors [11]