Transcat, Inc. · NASDAQ:TRNS
Transcat — Investor Presentation (November 2025)
28 slides from Transcat's investor presentation, November 2025
Slide 1: Leader in Test, Measurement, Control & Calibration
NASDAQ: TRNS Leader in Test, Measurement, Control & Calibration INVESTOR PRESENTATION November 2025
Slide 2: Safe Harbor Statement
Safe Harbor Statement This presentation contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than historical fact are forward-looking statements. Forward-looking statements are not statements of historical fact and thus
Slide 3: Corporate Overview & Strategy
Corporate Overview & Strategy Transcat is an industry leading provider of mission critical, accredited calibration services and equipment, and only public company of its kind. Highly fragmented, large market opportunity highlights path to $500M revenue and top-tier margins in 3-5 years NASDAQ: TRNS
Slide 4: Company Overview
Company Overview Industry leading provider of mission critical, accredited calibration services and equipment FOUNDED IN 1964 NASDAQ:TRNS DISTRIBUTOR AND FOOTPRINT 28 COMMERCIAL 66 CONSECUTIVE TRANSCAT NEXA COST, OVER 59 YEARS PUBLICLY-TRADED RENTAL OF TEST AND SCALE TO LABS QUARTERS OF YOY UNIVERSI
Slide 5: Compelling Equity Story with Multiple Growth Drivers
Compelling Equity Story with Multiple Growth Drivers Calibration and Instrumentation Services Sector Fragmented and Localized Attractive & Growing End Regulatory Driven Model Recurring Revenue Model Growing TAM Decision Makers Markets Highly fragmented industry, with In addition to regulatory driven
Slide 6: Transcat's Revenue Mix Evolution
Transcat’s Revenue Mix Evolution Transforming the revenue landscape with a deliberate shift toward the recurring service segment Lee D. Rudow, Michael West, Thomas Barbato, President & CEO Chief Operating Officer Chief Financial Officer Appointed July 2013 Appointed April 2024 Appointed Sept 2022 13
Slide 7: All Roads Lead to Service
All Roads Lead to Service Acquires Martin Calibration & Cal i br a Essco Calibration t S e r v i c ion Laboratory GM% es Axiom tion 275,000 Accelerating a Rental Growth r ne 66 Consecutive Quarters of YOY Service Revenue Growth 35% Pr Ge im Strong Cross-Selling Pri 225,000 Transcat Quality Lead ary
Slide 8: Complementary Business Segments
Complementary Business Segments Strong cross-selling opportunities from distribution to calibration services OPPORTUNITY FOR ACCELERATED GROWTH AND MARGIN EXPANSION nu e ws Su e Pr Flo pp ev i sh m R or a ar g gC ts rin yG Gro S t r on Recur r ow t h D r i v e r wth S trateg Calibration Services Dis
Slide 9: Strategic, Regulated Vertical Markets
Strategic, Regulated Vertical Markets • Provider of premium, mission critical services to regulated, high cost of failure industries that require long qualification cycles • High switching costs deeply entrench customers on Transcat service platform; high barrier to entry that results in recurring,
Slide 10: National Footprint & Strategy
National Footprint & Strategy 50 Locations & Mobile Serving U.S., Canada & Ireland – Strong Competitive Advantage Flexible Service Delivery Options : ✓ Client-Based Lab ✓ Periodic On-Site ✓ Mobile ✓ In-House ✓ Pickup & Delivery Map Legend Transcat Headquarters Transcat Calibration Labs Transcat Clie
Slide 11: Broad and Diverse Blue-Chip Customer Base
Broad and Diverse Blue-Chip Customer Base Servicing the Fortune 500 Manufacturers • Pharmaceuticals Percentage of Service Revenue 1 • Medical Devices o Orthopedics o Endoscopy Life Science / Industrials / FDA Regulated, o Surgical Tools Materials, 16% 60% • Defense Systems • Aerospace • Uranium Proc
Slide 12: Recent Acquisition Drivers
Recent Acquisition Drivers Increased Capabilities Leveraged Infrastructure Year Target Geographic Expansion & Expertise (Bolt-on) FY25 FY25 FY24 FY24 FY24 FY24 FY23 FY22 FY22 FY22 FY21 FY21 * Company estimates based on FY 2025 12
Slide 13: Acquisition & Integration Strategy
Acquisition & Integration Strategy Proven Process Drives Consistent Long-Term Value Capture and Returns Diligence & Decision Making Martin Calibration – Case Study • Disciplined approach with high emphasis on cultural fit Expanding Presence in Upper Midwest • Strategic checklist and consistent asses
Slide 14: Essco Calibration Laboratory
Essco Calibration Laboratory New England Market Leader in Calibration Services “We are extremely pleased with the initial results of our most recent acquisition, Essco Calibration. We expect continued strong results from Essco, along with Martin Calibration (acquired Q3 Fiscal 2025), leveraging sale
Slide 15: Q2 FY26 Summary
Q2 FY26 Summary • Q2 Revenue grew 21% vs prior year to $82.3M • Q2 adjusted EBITDA increased 37% from prior year to $12.1M Consolidated Results • Q2 Net Income of $1.3M or $0.14 per diluted share • Closed new 5-Year $150M syndicated secured credit facility • Q2 Service Revenue increased 20% to $52.8
Slide 16: Outlook
Outlook* 2026 Expectations Service segment: We expect a return to high single-digit service organic revenue growth in the second half of 2026, barring any further economic uncertainty. Total Transcat: We expect the fiscal 2026 income tax rate to be in the range of 30% to 32%. Mid-to-long Term Outloo
Slide 17: Summary
Summary • 64 years experience across complementary Calibration Services and Distribution/Rental segments • Market opportunity in expanding, highly regulated, high cost of failure, and mission critical industries including Life Sciences, Aerospace and Government/Defense • Service segment is a growth
Slide 18: Investor Relations
NASDAQ: TRNS Investor Relations Chris Tyson Executive Vice President MZ Group - MZ North America 949-491-8235 TRNS@mzgroup.us TRANSCAT, INC transcat.com transcat.com 35 Vantage Point Drive Rochester, NY 14624
Slide 19: Financial Overview
Financial Overview
Slide 20: Revenue
Revenue ($ in millions) Service Segment Distribution Segment Consolidated 20% $52.8 24% 21% $82.3 $29.4 $67.8 $23.7 $44.1 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 • Consolidated revenue up 21% from prior year to $82.3M as both segments grew double- digits • Service revenue growth of 20% despi
Slide 21: Gross Profit and Margin
Gross Profit and Margin ($ in millions) Service Segment Distribution Segment Consolidated 17% 48% 26% $17.0 $26.8 $9.8 $21.2 $6.6 $14.6 33.1% 32.2% 27.9% 33.2% 31.3% 32.5% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 • Consolidated Gross Profit of $26.8M increased 26% from prior year • Service Gr
Slide 22: Net Income, Diluted EPS, Adjusted Diluted EPS
Net Income, Diluted EPS, Adjusted Diluted EPS* ($ in millions, except EPS) Net Income Diluted EPS Adjusted EPS* $3.3 $0.35 $0.52 $0.44 $1.3 $0.14 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 • Net Income of $1.3M decreased 61.4% from prior year driven by higher interest expense and taxes • Dilute
Slide 23: Adjusted EBITDA and Margin
Adjusted EBITDA* and Margin ($ in millions) Service Adjusted Distribution Adjusted Consolidated Adjusted Operating Income Operating Income EBITDA $7.1 $12.1 8% 123% $5.0 37% $8.9 $6.6 $2.2 15.0% 13.5% 9.4% 17.0% 13.1% 14.7% Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 Q2 FY25 Q2 FY26 • Consolidated adjusted EBIT
Slide 24: Operating Free Cash Flow
Operating Free Cash Flow ($ in millions) Six Months Ended • Net Cash from operations higher Note: Components may not add September 27, September 28, compared to prior year to totals due to rounding 2025 2024 • Capital expenditures remain focused Net cash provided by on Service capabilities/expansion
Slide 25: Balance Sheet Supports Growth Strategy
Balance Sheet Supports Growth Strategy ($ in millions) Capitalization Note: Components may not add September 27, March 29, to totals due to rounding 2025 2025 Cash & Cash Equivalents • 2.25x leverage ratio at quarter-end $5.1 $1.5 (Total debt to TTM Adjusted Total Debt 111.9 32.7 EBITDA*) Total net
Slide 26: Supplemental Information
Supplemental Information
Slide 27: Adjusted EBITDA and Operating Income Reconciliation
Adjusted EBITDA and Operating Income Reconciliation ($ in thousands) FY 2026 Q2 FY 2025 Q2 ($ in thousands) Net Income $ 1,269 $ 3,286 + Interest Expense / (Income), net 1,264 (210) + Tax Provision 760 427 + Depreciation & Amortization 6,487 4,399 + Transaction Expense 496 32 + Other (Expense) / Inc
Slide 28: Adjusted Diluted EPS Reconciliation
Adjusted Diluted EPS Reconciliation ($ in thousands) ($ in thousands except per share data) FY 26 Q2 FY 25 Q2 GAAP Net Income $ 1,269 $ 3,286 Add back (deduct) $ 2,886 $ 1,541 Amortization of Intangibles 3,461 1,888 Acquisition deal costs 496 33 Acq Stock Expense 226 130 Acquisition Amortization of