INTEST CORP

Listed Company

INTTCIK 0001036262NYSEAcceleratedSmaller ReportingInstruments For Meas & Testing Of Electricity & Elec SignalsDelawareFY ends Dec 31

Period

FY 2025

Revenue

—

Net Income

$-2.53M

Total Assets

$151.31M

Equity

$103.62M

Shares Out

12.50M

Op. Cash Flow

$7.32M

Business

INTEST CORP is a global supplier of engineered test and process technology solutions used in manufacturing and testing across multiple industries. It offers thermal test systems and chambers, temperature platforms, test head manipulators, docking hardware, tester interfaces, induction heating systems, digital imaging and automated test equipment, along with service and support. The company operates through three reportable segments: Electronic Test, Environmental Technologies and Process Technologies. It sells and supports products worldwide to semiconductor, industrial, automotive/EV, life sciences, defense/aerospace and security customers via direct sales, distributors and service partners.

Summary from filing dated 2025-03-13

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenue	114	131	123	117	85
Cost of revenue	65	75	66	63	44
Gross profit	49	55	57	53	41
Selling expense	17	17	18	16	11
Engineering and product development expense	9	9	8	8	6
General and administrative expense	22	24	21	19	16
Amortization of acquired intangible assets	3	3	—	—	—
Charges	850,000	0	—	—	—
Total operating expenses	53	52	47	43	33
Operating (loss) income	−4	3	10	11	8
Interest expense	−450,000	−846,000	−679,000	—	—
Other income	953,000	906,000	1	59,000	32,000
(Loss) earnings before income tax (benefit) expense	−3	3	11	10	8
Income tax (benefit) expense	−695,000	563,000	2	2	1
Net (loss) earnings	−3	3	9	8	7
Basic (in USD per share)	−0.21	0.24	0.82	0.79	0.7
Diluted (in USD per share)	−0.21	0.24	0.79	0.78	0.68
Basic (in shares)	12	12	11	11	10
Diluted (in shares)	12	12	12	11	11

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	14	20	45	13	21
Restricted cash	4	0	—	—	—
Trade accounts receivable, net of allowance for credit losses of $375 and $423, respectively	26	29	18	21	17
Inventories	32	27	20	23	13
Prepaid expenses and other current assets	3	3	2	2	1
Total current assets	79	79	86	60	52
Property and equipment, net of accumulated depreciation of $10,083 and $8,830, respectively	5	4	3	3	3
Right-of-use assets, net	9	11	5	6	6
Goodwill	32	31	22	22	21
Intangible assets, net	25	26	17	19	22
Deferred tax assets	775,000	67,000	1	280,000	0
Other assets	789,000	1	1	569,000	39,000
Total assets	151	152	135	110	104
Current portion of long-term debt	6	7	4	4	4
Current portion of operating lease liabilities	2	2	2	2	1
Accounts payable	11	8	6	7	4
Customer deposits and deferred revenue	6	5	4	4	6
Accrued expenses and other current liabilities	10	9	—	—	—
Total current liabilities	36	32	24	27	25
Operating lease liabilities, net of current portion	7	9	3	5	5
Long-term debt, net of current portion	1	8	8	12	16
Contingent consideration, net of current portion	356,000	825,000	1	1	930,000
Deferred revenue, net of current portion	1	1	1	0	—
Other liabilities	2	2	384,000	455,000	453,000
Total liabilities	48	52	39	45	49
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $0.01 par value; 5,000,000 shares authorized; no shares issued or outstanding	0	0	0	0	0
Common stock, $0.01 par value; 20,000,000 shares authorized; 12,570,865 and 12,457,658 shares issued, respectively; 12,488,788 and 12,378,276 shares outstanding, respectively	125,000	124,000	122,000	111,000	109,000
Additional paid-in capital	59	58	54	32	30
Retained earnings	43	45	42	33	24
Accumulated other comprehensive earnings (loss)	2	−2	414,000	218,000	594,000
Treasury stock, at cost; 82,077 and 79,382 shares, respectively	−959,000	−942,000	−901,000	−214,000	—
Total stockholders equity	104	100	96	65	55
Total liabilities and stockholders equity	151	152	135	110	104

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Depreciation and amortization	7	5	5	5	3
Provision for excess and obsolete inventory	818,000	703,000	500,000	771,000	203,000
Amortization of deferred compensation related to stock-based awards	2	2	2	2	1
Deferred income tax benefit	−1	−2	−1	−2	−489,000
Other non-cash reconciling items	−344,000	295,000	—	—	—
Trade accounts receivable	5	−6	3	−5	−5
Inventories	−4	5	2	−11	−3
Prepaid expenses and other current assets	331,000	903,000	−535,000	−243,000	−416,000
Other assets	−197,000	−30,000	−686,000	−2,000	−9,000
Operating lease liabilities	−2	−2	−2	−1	−1
Accounts payable	3	−2	−2	3	1
Customer deposits and deferred revenue	975,000	−1	−759,000	−1	5
Domestic and foreign income taxes payable	119,000	−1	−371,000	−573,000	301,000
Deferred revenue, net of current portion	−377,000	−16,000	1	0	—
Accrued expenses and other liabilities	−297,000	649,000	−17,000	61,000	−6,000
Net cash provided by operating activities	7	4	16	−1	11
Acquisition of business, net of cash acquired	0	−19	0	0	−20
Purchases of property and equipment	−2	−1	−1	−1	−994,000
Net cash used in investing activities	−2	−20	−1	−1	−21
Repayments of short-term borrowings, net of proceeds	−4	−152,000	0	—	—
Repayments of long-term debt	−4	−8	—	—	—
Repurchases of common stock	0	−1	0	—	0
Proceeds from stock options exercised	22,000	145,000	978,000	38,000	2
Proceeds from shares sold under Employee Stock Purchase Plan	124,000	138,000	174,000	197,000	43,000
Settlement of employee tax liabilities in connection with treasury stock transaction	−17,000	−41,000	−687,000	−10,000	0
Net cash used in financing activities	−8	−9	16	−4	22
Effects of exchange rates on cash	770,000	−559,000	163,000	−324,000	−277,000
Net cash used in all activities	−2	−25	31	−7	11
Interest	456,000	881,000	688,000	—	—
Total income taxes paid net of refunds received	193,000	3	—	—	—
Equity issued in conjunction with acquisition of business	0	2	—	0	−4
Issuance of unvested shares of restricted stock awards	1	2	2	1	2
Forfeiture of shares of unvested restricted stock awards	−557,000	−200,000	—	—	—

Filings

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