InTest Corporation Reports 25.5% Revenue Growth and Net Income Turnaround in Q2 2026

InTest Corporation reported significant financial improvements in its latest quarterly results, with total revenue for the second quarter of 2026 reaching $35.3 million, a 25.5% increase from $28.1 million in the same period last year. For the first half of 2026, revenue totaled $69.2 million, up 26.4% from $54.8 million in the first half of 2025. The company achieved a net income of $474,000 for the second quarter, compared to a net loss of $503,000 in the prior year, marking a notable turnaround in profitability.

The growth in revenue was primarily driven by a 55.9% increase in the Electronic Test segment, which generated $21.4 million, and a 38.1% rise in the Auto/EV market, which contributed $13.4 million. However, the Environmental Technologies segment saw a decline of 19.3%, with revenue falling to $5.8 million. The overall gross profit for the second quarter was $14.3 million, reflecting a gross margin of 40.5%, down from 42.6% a year earlier, attributed to changes in product mix.

In terms of operational developments, InTest's total assets decreased slightly to $149.1 million as of June 30, 2026, from $151.3 million at the end of 2025. The company reported a reduction in current liabilities to $32.1 million, down from $35.8 million, indicating improved financial health. The employee headcount remained stable, with no significant changes reported. The company continues to focus on diversifying its market presence beyond the semiconductor sector, aiming to reduce reliance on any single market.

Strategically, InTest has been active in pursuing acquisitions to enhance its product offerings and market reach. The company completed the acquisition of Alfamation in March 2024, which has expanded its capabilities in the Electronic Test segment. Additionally, InTest has been consolidating operations, such as the integration of Videology's Netherlands operations into its U.S. facility, which is expected to yield operational efficiencies.

Looking ahead, InTest remains cautiously optimistic about its growth trajectory, particularly in the Auto/EV and Defense/Aerospace markets. The company is focused on executing its VISION 2030 strategy, which includes expanding its presence in international markets and enhancing its product portfolio. However, management acknowledges potential risks, including supply chain disruptions and market volatility, which could impact future performance. The company is committed to monitoring these factors closely and adapting its strategies as necessary to navigate the evolving market landscape.