inTEST Corporation (INTT) said on Thursday that its full‑year 2026 revenue forecast has been increased to a range of $135 million to $140 million, representing more than a 20% rise over the 2025 outlook. The company also provided guidance for the third quarter, expecting revenue of $33 million to $35 million and a gross margin of roughly 44%, up from 40.5% in the second quarter.
Second‑quarter 2026 revenue came in at $35 million, with orders just under $29 million and an order backlog of $45 million, equivalent to about 1.5 quarters of revenue. Gross profit for the quarter exceeded $14 million, while operating expenses are projected to stay flat in Q3 at $13.8 million to $14.2 million. Full‑year operating expenses are expected between $55 million and $57 million. Amortization is estimated at $500,000 per quarter, and restructuring costs of $700,000 were recorded in Q1.
Adjusted EBITDA margin currently sits near 6%, with management targeting a long‑term range of 15%. Adjusted earnings per share are forecast to rise to $0.10 for 2026, up from $0.03 in 2025. The company aims to keep debt below 2.5 times trailing twelve‑month EBITDA, and plans to retire a five‑year term loan taken in 2021 for acquisitions by the end of 2026, extending the acquisition line through August 2028.
Revenue mix over the past twelve months shows semiconductors contributing about 35% of sales, automotive and EV manufacturing 25%, and industrial, defense and aerospace each around 15%, with the remainder coming from security, life‑sciences and niche markets. The firm operates three divisions: Electronic Test, Environmental Technologies and Process Technologies. The Electronic Test segment offers handlers, docking fixtures and complete system solutions, including updated flying‑probe systems that combine oscilloscope and RF probe capabilities. Environmental Technologies supplies chillers, forced‑air and thermal systems for advanced chips and space‑qualified applications, highlighted by a benchtop ThermoStream unit that operates from roughly 200 °C down to –28 °C with 10 CFM airflow. Process Technologies focuses on induction heating for semiconductor and life‑science manufacturing and includes Videology’s imaging and pattern‑recognition tools; the EKOHEAT Compact System, launched 18‑24 months ago, reduces footprint by about one‑third while maintaining performance and cutting energy use.
The company’s recent acquisitions—Alfamation, AccuLogic and Videology—have collectively added roughly $45 million in revenue over the past five years. Semiconductor order volume grew 56% in Q2, the strongest in six quarters. CEO Rich Rogoff, who took the helm on April 1 after five years with the firm, said the increasing complexity of systems is driving demand for more elaborate testing solutions.
InTEST’s guidance reflects confidence in its diversified product portfolio and ongoing cost‑control measures as it works toward higher profitability and a stronger balance sheet.
