Slide 1: Third Quarter 2025 Financial Results Conference Call
Third Quarter 2025 Financial Results Conference Call November 5, 2025 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, adjusted earn
Slide 4: Orders Strength Validates Diversification Strategy and Market Recovery Readiness
Orders(1) Strength Validates Diversification Strategy and Market Recovery Readiness Highest level of orders since Q2 2022 5-POINT • Orders(1) up 34.2% y/y; 35.6% sequentially OPERATING SYSTEM • Higher demand from Automotive and increased spending in Defense/Aerospace Revenue below forecast Global &
Slide 5: Orders and Backlog
Orders and Backlog(1) ($ in millions) ORDERS Sequentially, orders up 35.6% Years Quarters • Led by Auto/EV, which accounted for 76% of the increase $37.6 $129.6 $116.6 $121.4 $107.7 • Auto/EV orders increased 106% driven by 2027 $28.1 $27.8 model year program starts; Alfamation had record orders for
Slide 6: Revenue
Revenue ($ in millions) Years Quarters Revenue down $1.9 million sequentially $130.7 $116.8 $123.3 $117.6 • Due to late-quarter shipment delays $30.3 $28.1 $26.2 • Declines in Defense/Aerospace, Auto/EV, Semi and Industrial • Life Sciences, Safety/Security and Other markets increased compared with t
Slide 7: Gross Profit and Margin
Gross Profit and Margin ($ in millions) Sequential margin contraction of 70 bps Years Quarters • Primarily attributable to lower volume • Continue to execute tariff mitigation tactics $57.0 $55.4 $53.4 $14.0 $48.6 Q3 gross margin of 41.9% decreased 440 $12.0 $11.0 bps y/y • Reflecting lower volume a
Slide 8: Operating Expenses
Operating Expenses ($ in millions) Operating expenses as a % of sales Q3 2025 operating expenses decreased 36.6% 37.7% 39.8% 43.8% 44.7% 45.6% 46.4% $0.7 million sequentially Years Quarters • Better than forecasted $52.0 Y/Y, operating expenses decreased $2.5 $51.5 $0.6 $46.5 $1.3 million $42.7 $2.1
Slide 9: Earnings (Loss) and Adjusted EBITDA
Earnings (Loss) and Adjusted EBITDA(2) ($ in millions, except per share data) Net Earnings (Loss) and Adjusted EBITDA/ (2) (2) EPS and Adjusted EPS Adjusted EBITDA Margin Quarters Quarters $2.4 $0.10 $1.3 $0.04 $0.03 $0.5 $0.4 8.1% 4.5% 1.5% $(0.04) $(0.02) $(0.5) $(0.9) $(0.08) Q3 24 Q2 25 Q3 25 Q3
Slide 10: Capital Structure and Cash Flow
Capital Structure and Cash Flow ($ in millions) Three Months Nine Months Cash Flow Ended Ended Reduced debt by $6.2 million 9/30/25 9/30/24 9/30/25 9/30/24 during first nine months 2025 • $1.2 million in Q3 2025 Net cash provided by $ 3.5 $4.2 $ 8.4 $ 1.2 operating activities (GAAP) Capital expendit
Slide 11: Fourth Quarter Guidance / Vision 2030
Fourth Quarter Guidance Expecting to deliver Q/Q Revenue Growth • Revenue expected to be $30 million to $32 million • Gross margin approximately 43% • Operating expenses of $12.3 million to $12.7 million • • Excludes ~$0.2 million in Videology and other restructuring expenses Amortization and intere
Slide 12: Executing our VISION 2030 Strategy
Executing our VISION 2030 Strategy Well positioned to benefit as markets improve overall • Validated by new products adoption, market diversification and geographic expansion • Continue to prioritize operational excellence to improve profitability Funnel of opportunities remains strong • Customers v
Slide 13: Conference Call Playback Upcoming Events
Conference Call Playback • Replay Number: (412) 317-6671 passcode: 13756099 • Telephone replay available through Wednesday, November 19, 2025 • Webcast / Presentation / Replay available at www.intest.com/investor-relations • Transcript, when available, at www.intest.com/investor-relations Upcoming E
Slide 14: Supplemental Information
Supplemental Information Q3 2025 Financial Results Conference Call NYSE American: INTT | 14
Slide 15: Reconciliation of Net Earnings to Adjusted Net Earnings
Reconciliation of Net Earnings to Adjusted Net Earnings (Non-GAAP) and Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) ($ in thousands, except per share amounts) Three Months Ended 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 Net earnings (loss) $ 495 $ 1,504 $ (2,
Slide 16: Reconciliation of Net Earnings to Adjusted Net Earnings
Reconciliation of Net Earnings to Adjusted Net Earnings (Non-GAAP) and Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) ($ in thousands, except per share amounts) Years Ended December 31, TTM Ended 2022 2023 2024 9/30/2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (2,
Slide 17: Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA
Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) ($ in thousands) Three Months Ended 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 Net earnings (loss) $ 495 $ 1,504 $ (2,329) $ (503) $ (938) Acquired intangible amortization 944 10
Slide 18: Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA
Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) ($ in thousands) Years Ended December 31, TTM Ended 2022 2023 2024 9/30/2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (2,266) Acquired intangible amortization 2,694 2,095 2,545 2,61
Slide 19: Segment Reporting (Quarterly)
Segment Reporting (Quarterly) ($ in thousands) Three Months Ended 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 Electronic Test $ 15,481 $ 21,122 $ 13,259 $ 13,733 $ 12,099 Environmental Technologies 6,734 7,063 6,268 7,215 7,490 Process Technologies 8,057 8,418 7,110 7,182 6,647 Total Revenue
Slide 20: Segment Reporting (12 Months)
Segment Reporting (12 Months) ($ in thousands) Years Ended December 31, TTM Ended 2023 2024 9/30/2025 Electronic Test $ 41,016 $ 63,878 $ 60,213 Environmental Technologies 30,801 28,898 28,036 Process Technologies 51,485 37,914 29,357 Total Revenue $ 123,302 $ 130,690 $ 117,606 % of % of % of divsio