INTT $12.30 +2.76%

INTT · Intest Corp

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$12.30 +0.33 (+2.76%) At close · Oct 2

Russell 2000 member Rebalance outlook locked

Market Cap

$145.37M

12.56M

Volume · Oct 2 100.7K Avg daily vol (3M) 139.07K

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Earnings call · FY2026 Q2

Intest Corp (INTT) Q2 2026 Earnings Call

Concluded Aug 10, 2026 Audio replay

Aug 10, 2026 33:40 0 turns

Period: FY2026 Q2
Runtime: 33:40
Sources: 4 artifacts

Slides 21 8-K 10-Q

Executive readout · one minute

What matters this quarter

InTest delivered Q2 2026 revenue of $35.3M (+25.5% YoY) driven by Auto/EV, with Adjusted EBITDA up 73.7% YoY and backlog up 19.8% YoY, while Semi orders surged ~64% YoY. The company reiterated its raised full-year 2026 revenue outlook of $135M–$140M (updated July 31) but modestly lowered its full-year gross margin expectation, and Q2 gross margin declined 280 bps sequentially to 40.5% due to lower-margin Auto/EV mix.

Semiconductor back-end cycle 14 Margin and product mix 7 Customer concentration and wallet share 6 Operational efficiency initiative 6 Semi front-end outlook 6 Automation in back-end testing 4

Management tone

Positive

Net tone +28 · moderate hedging

Grounding quotes

“that would be the expectation. Certainly we're watching that guardedly, right?”
“But, you know, I've been in the semi-business myself for more than 30 years, and, you know, typical cycles, it kind of goes ebbs and flows with the node transitions, which have typically been on the 18-month kind of timeframe, of course, barring any macroeconomic changes to the situation, right?”
“Whether there's going to be a project or two, I think it's still a bit early to answer that question.”

Forward guidance

9 guided metrics

Management's latest ranges and targets are included below.

Research coverage

4 live sources

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Research materials

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Presentation 21 pages 8-K earnings release Filed Aug 10, 2026 10-Q report Filed Aug 10, 2026 Company webcastOpen the original investor-relations page

Key takeaways

What improved, and what deserves a closer read.

↑ Constructive signals

Q2 revenue rose 25.5% YoY to $35.3M, marking a third consecutive quarter of sequential growth
Adjusted EBITDA more than doubled sequentially in trend, up 73.7% YoY to $2.2M
Semi orders surged ~56% sequentially and ~64% YoY, the strongest Semi order intake in six quarters
Full-year 2026 revenue outlook was raised (July 31) to $135M–$140M (~21% growth at midpoint) and reiterated
Back-end Semi is a higher-margin business (~mid-50s), expected to lift margins in 2H

↓ Risks & pressure points

Q2 gross margin declined 280 bps sequentially to 40.5% on lower-margin Auto/EV mix
Full-year 2026 gross margin guidance was modestly reduced
Backlog declined 12.4% sequentially from $51.8M to $45.4M
Prior-period results were revised due to an internal control matter

Key moments

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“our back-end semi-business, as you mentioned, Ted, one of the legacy pieces of the business, certainly the margins there, higher towards the, let's say, sort of mid-50s kind of range, certainly one of the higher margin profiles across our product portfolio. and that shift between those higher margins versus some of the great auto projects but tend to be higher volume, lower margin, that change of mix as we go into the second half, a real driver of the margin shift that we see in the second half versus the first half.” Speaker 1

Forward guidance

From the 8-K filed Aug 10, 2026.

Metric	Period	Guided	Basis
Revenue Initiated third quarter of 2026	third quarter of 2026	$33M – $35M	—
Gross margin Initiated third quarter of 2026	third quarter of 2026	44%	—
Amortization expense Initiated third quarter of 2026	third quarter of 2026	$500,000	—
Gross margin Initiated full-year 2026	full-year 2026	43%	—
Operating expenses Initiated full-year 2026	full-year 2026	$55M – $57M	—
Amortization expense Initiated full-year 2026	full-year 2026	$2.6M	—
Interest expense Initiated full-year 2026	full-year 2026	$300,000	—
Effective tax rate Initiated full-year 2026	full-year 2026	18%	—
Capital expenditures Initiated full-year 2026	full-year 2026	1% – 2%	—

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