TechPrecision Corporation reported its financial results for the second quarter of fiscal 2026, ending September 30, 2025, revealing a net income of $825,000, or $0.08 per share, compared to a net loss of $601,000, or $0.06 per share, for the same period last year. Revenue for the quarter reached $9.1 million, a 2% increase from $8.9 million in the prior year, driven primarily by a favorable project mix at its Stadco subsidiary, which saw a 14% increase in revenue year-over-year. In contrast, revenue from the Ranor subsidiary decreased by 9% due to a shift in customer project mix.
For the six months ended September 30, 2025, TechPrecision reported total revenue of $16.5 million, a decline of 3% from $16.9 million in the same period last year. The decrease was attributed to a change in project mix at both subsidiaries, with Ranor's revenue falling by 5% while Stadco's revenue increased by 4%. The company’s gross profit for the quarter was $2.5 million, a significant increase of 143% compared to $1 million in the prior year, resulting in a gross margin of 27% compared to 11% a year earlier.
Operationally, TechPrecision's total assets increased slightly to $33.8 million as of September 30, 2025, from $33.5 million at the end of the previous fiscal year. The company reported a total stockholders' equity of $9.1 million, up from $8.7 million, reflecting improved profitability. However, the company continues to face challenges with its debt covenants, as it was not in compliance with certain financial covenants under its loan agreement with Berkshire Bank, leading to all long-term debt being classified as current liabilities.
In terms of strategic developments, TechPrecision is actively exploring options to strengthen its liquidity position and ensure compliance with its debt financing covenants. The company is focusing on making Stadco operations profitable and is considering renewing its revolver loan or seeking alternative financing solutions. As of September 30, 2025, TechPrecision had $1.4 million in total available liquidity, consisting of $220,000 in cash and $1.2 million in undrawn capacity under its revolver loan.
Looking ahead, TechPrecision's management expressed concerns regarding the company's ability to continue as a going concern for at least the next twelve months, primarily due to ongoing operating losses at Stadco and the need for alternative financing. The company plans to closely monitor expenses and may implement cost reductions to enhance liquidity. The outlook remains cautious as the company navigates its financial challenges while aiming to capitalize on opportunities within the defense and precision industrial markets.
About TECHPRECISION CORP
TechPrecision Corporation manufactures large-scale precision metal components and systems primarily for defense and aerospace markets. Through its subsidiaries Ranor and Stadco, it provides custom fabrication, machining, assembly, and testing services in accordance with strict industry standards. Serving major U.S. defense programs and commercial aerospace, the company emphasizes quality, technical expertise, and end-to-end solutions in a highly competitive, regulated environment.
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