TechPrecision Corporation reported a revenue of $9.1 million for the three months ended June 30, 2026, marking a 23% increase from $7.4 million in the same period last year. The company’s gross profit also improved, rising to $1.4 million from $1.0 million, resulting in a gross margin of 15.4%, up from 14.0% year-over-year. Despite the increase in revenue, TechPrecision recorded a net loss of $153,000, or $0.02 per share, which is an improvement compared to a net loss of $597,000, or $0.06 per share, in the prior year.
The financial performance reflects significant operational changes, particularly in the Ranor and Stadco segments. Ranor's revenue increased by 27% to $5.5 million, driven by a favorable project mix among prime defense customers, while Stadco's revenue rose by 22% to $4.1 million, despite a decrease in revenue from military space customers. The backlog for Ranor stood at $31.5 million, while Stadco's backlog was $21.1 million as of June 30, 2026, indicating a steady flow of new orders.
Operationally, TechPrecision has faced challenges, particularly with its Stadco subsidiary, which reported an operating loss of $836,000, although this was an improvement from a loss of $1.2 million in the previous year. The company attributed the losses to underabsorbed overhead and increased material costs. In response, TechPrecision is focusing on improving operational efficiency and profitability at Stadco, as well as exploring alternative financing options to strengthen its liquidity position.
As of June 30, 2026, TechPrecision had total available liquidity of $2.1 million, consisting of $279,000 in cash and $1.8 million in undrawn capacity under its revolving loan. However, the company is facing substantial doubt about its ability to continue as a going concern due to ongoing operating losses and noncompliance with certain debt covenants. The company is actively seeking to renew its revolving loan or secure alternative financing by September 15, 2026, to meet its obligations.
Looking ahead, TechPrecision aims to enhance its operational performance and compliance with debt covenants while continuing to monitor expenses closely. The company remains committed to its core markets in defense and precision industrial sectors, with plans to leverage its existing customer relationships to drive future growth.
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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