Slide 1: Fourth Quarter & Fiscal Year 2025 Financial Results Conference Call
Fourth Quarter & Fiscal Year 2025 Financial Results Conference Call February 27, 2026 Nick Grant, President and CEO Duncan Gilmour, CFO and Treasurer NYSE American: INTT | NYSE American: INTT |
Slide 2: Forward-Looking Statements and Key Performance Metrics
Forward-Looking Statements and Key Performance Metrics Forward-Looking Statements This presentation includes forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, as amended. These statements do not convey historical information but relate to predicte
Slide 3: Non-GAAP Financial Measures
Non-GAAP Financial Measures In addition to disclosing results that are determined in accordance with generally accepted accounting practices in the United States (“GAAP”), we also disclose non-GAAP financial measures. These non-GAAP financial measures consist of adjusted net earnings (loss), adjuste
Slide 4: Q4 2025 Beat With Strong Orders and Margin Lift
Q4 2025 Beat With Strong Orders(1) and Margin Lift Gradual Recovery of Customer Capital 5-POINT Spending Evident OPERATING SYSTEM • Q4 2025 Orders(1) up 22.2% Y/Y to $37.5 million • 12/31/25 Backlog(1) of $53.9 million, up 36.4% from 12/31/24 Q4 Revenue Exceeded Guidance Range • Q/Q strength in Indu
Slide 5: Orders and Backlog
Orders and Backlog(1) ($ in millions) Orders Orders maintain strong momentum Years Quarters Second Consecutive $37M+ Order Quarter • Lower Auto/EV, Industrial and Defense/Aerospace orders were offset by increases in Life Sciences and Semi • Life Sciences strengthened by new product orders at Alfamat
Slide 6: Revenue
Revenue ($ in millions) Years Quarters Revenue up $6.6 million sequentially • Gradual recovery of capital spending • New products gaining traction • Increases in Industrial, Defense/Aerospace and Life Sciences offset by continued weakness in Semi • Includes ~$2.0 million in shipments which slipped o
Slide 7: Gross Profit and Margin
Gross Profit and Margin ($ in millions) Sequential margin increase of 350 bps Years Quarters • Driven by volume and favorable contributions from new Alfamation products Q4 2025 gross margin of 45.4% increased 570 bps Y/Y • Favorable product mix from Alfamation • Q4 2024 included $1.6M or 430 bps neg
Slide 8: Operating Expenses
Operating Expenses ($ in millions) Operating expenses as a % of sales Q4 2025 operating expenses increased 36.6% 37.7% 39.8% 46.3% 34.0% 46.4% 41.5% $1.4 million sequentially Years Quarters • Primarily due to higher sales commissions and marketing activity $13.6 $52.0 $52.6 $0.2 $0.9 $12.5 $0.8 $0.1
Slide 9: Net Earnings (Loss) and Adjusted EBITDA
Net Earnings (Loss) and Adjusted EBITDA(2) ($ in millions, except margin percentages) Net Earnings (Loss) Adjusted EBITDA(2) Quarters Quarters 12.1% (3.6%) $1.5 $1.2 $4.4 $0.4 $3.2 $(0.9) Years Years (2.2%) $8.5 $9.3 $2.9 $16.0 $15.8 $10.8 $4.0 $(2.5) (2) Adjusted Net Earnings (Loss), Adjusted EPS,
Slide 10: Earnings (Loss) per Share and Adjusted Earnings (Loss) per Share
Earnings (Loss) per Share and Adjusted Earnings (Loss) per Share(2) Earnings (Loss) Per Share Adjusted Earnings (Loss) Per Share(2) Quarters Quarters $0.10 $(0.08) Years Years $(0.21) (2) Adjusted Net Earnings (Loss), Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are non-G
Slide 11: Capital Structure and Cash Flow
Capital Structure and Cash Flow Three Months Twelve Months Cash Flow ($ in millions) Ended Ended Reduced debt by $7.6 million 12/31/25 12/31/24 12/31/25 12/31/24 during 2025 • $1.4 million in Q4 2025 Net cash (used in) provided $(1.0) $2.6 $7.3 $3.8 by operating activities (GAAP) Capital expenditure
Slide 12: Outlook for 2026 and VISION 2030
Outlook for 2026† Q1 2026 Guidance • Revenue: $31 million to $33 million • Gross margin: approximately 44% • Operating expenses: $13.3 million to $13.7 million • Amortization expense : $0.8 million VISION 2030 Full Year 2026 Guidance Defining the Next Phase • Revenue: $125 million to $130 million of
Slide 13: Executing Our VISION 2030 Strategy
Executing Our VISION 2030 Strategy Well positioned for diversified Y/Y growth as customers’ spending strengthens • Validated by new products adoption, market diversification and geographic expansion • Continue to prioritize operational excellence to improve profitability Customers value InTest’s inn
Slide 14: Conference Call Playback and Upcoming Events
Conference Call Playback • Replay Number: (844) 512-2921 or (412) 317-6671 passcode: 13758476 • Telephone replay available through Friday, March 13, 2026 • Webcast / Presentation / Replay available at www.intest.com/investor-relations • Transcript, when available, at www.intest.com/investor-relation
Slide 15: Supplemental Information
Supplemental Information Q4 2025 Financial Results Conference Call NYSE American: INTT | 15
Slide 16: Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Quarterly)
Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Loss) (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted Earnings (Loss) Per Diluted Share (Non-GAAP) Three Months Ended ($ in thousands, except per share amounts) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Net earnings (loss)
Slide 17: Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Annual)
Reconciliation of Net Earnings (Loss) to Adjusted Net Earnings (Non-GAAP) and Earnings (Loss) Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) Years Ended December 31, ($ in thousands, except per share amounts) 2022 2023 2024 2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (2,5
Slide 18: Reconciliation to Adjusted EBITDA (Quarterly)
Reconciliation of Net Earnings (Loss) and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) Three Months Ended ($ in thousands, except percentages) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Net earnings (loss) $ 1,504 $ (2,329) $ (503) $ (938) $ 1,243 Acquired intangible
Slide 19: Reconciliation to Adjusted EBITDA (Annual)
Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) Years Ended December 31, ($ in thousands, except percentages) 2022 2023 2024 2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (2,527) Acquired intangible amortization 2,694 2,095 2,545
Slide 20: Segment Reporting (Quarterly)
Segment Reporting (Quarterly) Three Months Ended ($ in thousands) 12/31/24 3/31/25 6/30/25 9/30/25 12/31/25 Electronic Test $ 21,122 $ 13,259 $ 13,733 $ 12,099 $ 17,103 Environmental Technologies 7,063 6,268 7,215 7,490 8,321 Process Technologies 8,418 7,110 7,182 6,647 7,398 Total Revenue $ 36,603
Slide 21: Segment Reporting (12 Months)
Segment Reporting (12 Months) Years Ended December 31, ($ in thousands) 2022 2023 2024 2025 Electronic Test $ 40,219 $ 41,016 $ 63,878 $ 56,194 Environmental Technologies 30,172 30,801 28,898 29,294 Process Technologies 46,437 51,485 37,914 28,337 Total Revenue $ 116,828 $ 123,302 $ 130,690 $ 113,82