Slide 1: inTEST Corporation 2021 Q2 Financial Results
EXHIBIT 99.3 inTEST Corporation Innovative Test & Process Solutions 2021 Q2 Financial Results Conference Call Presentation August 6, 2021 Nick Grant Duncan Gilmour President and CEO Treasurer and CFO inTEST
Slide 2: Forward-Looking Statements
inTEST Corporation (NYSE American: INTT) 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 predicted or potential
Slide 3: CEO Discussion
CEO Discussion = Strong demand for our innovative test and process technology solutions across a diverse set of end applications resulted in financial results for Q2 which exceeded our guidance. = Growth fueled by broad end market demand in the semiconductor industry across both our segments, along
Slide 4: Q2 2021 Bookings and Backlog
Q2 2021 Bookings and Backlog (8 in millions) Bookings 80%. we $25.2 $25.1 80% YoY $22 a 913.9 - 0% QoQ $14 20 Q2 Multimarket B:B of 1.40 220 LI B 20 iat Backlog $20.4 134% ™ $17.1 YoY S16 19% a 5 Q $12 oQ $8.7 4 7 S4 Q221 Q2 backlog stretching out over time as industry lead-times grow Q220 Io 20 L 2
Slide 5: Q2 2021 Revenue
Q2 2021 Revenue ($ in millions) 826 $22 $18 ae GT $10 220 Net Revenues $14.4 $14.9 $19.6 320 420 i241 $21.8 221 Exceeded guidance range Driven by strength in Semi shipments As % of Q2’21 revenues: Semi 72% / Multimarket 28% Q2’21 Semi revenues increased 18% QoQ Q2’21 Multimarket revenues essentially
Slide 6: Q2 2021 Net Income and EPS
Q2 2021 Net Income and EPS GAAP EPS $0.24 $0.25 $0.21 $0.15 $0.05 $0.05 -$0.04 $0.15 EBITDA (Non-GAAP) $3.5M $0.30 $0.20 $0.10 $0.00 $0.10 Non-GAAP Adjusted EPS $0.24 $0.27 $0.05 ac lo Q220 Q3 20 Q420 Q121 Q221 -$0.01 Q2 EPS high-end of guidance range, while absorbing CFO transition costs GAAP net e
Slide 7: EMS Products Segment
EMS Products Segment = Capturing growth from current customers. Driving installed base diversification by securing new customers and broadening geographic reach inTEST + Traditional end markets remained strong. Automotive, consumer electronics and 5G all driving demand EMS = Back-end semi: Extremely
Slide 8: EMS Highlights
EMS Highlights = Shipped prototype interface unit to global semiconductor manufacturer for use in development of next-gen Ultra High-Definition automotive radar. Initial shipment that we expectwill drive significant production orders in 2022 and 2023. = Multiple interface design wins against the com
Slide 9: Thermal Segment
Thermal Segment inTEST = Q2 Thermal bookings of $14.8M comparable to Q1 — Exceeded Q2 shipments by $2M; up 42% YoY. — Growth fueled by continued strength in front-end semi and industrial markets, as well as automotive and defense/aero. — Q2 defense/aero bookings up 97% QoQ. = Q2 Thermal revenues of
Slide 10: Thermal Highlights
10 Thermal Highlights Semi-lab market continues to be strong: bookings up < 20% QoQ from relatively strong Q1. In Q2 ten different back-end semi customers each ordered over $100,000. Continue working with several semiconductor crystal manufacturers on new applications that could leverage our carbon-
Slide 11: Investing for the Future
" Investing for the Future: Talent & Culture Core Growth Strategies inTEST
Slide 12: Talent & Culture
Talent & Culture 12 Realigning proven, in-house leaders as well as invigorating team by bringing in external talent to drive change. - Strengthened leadership teams in finance, sales, and R&D, providing inTEST with best-in-class leadership team with industry experience and core commitments to achiev
Slide 13: CEO Concluding Comments
3 CEO Concluding Comments 1H’21 has been exceptional period for the semiconductor industry, despite supply chain challenges. Equipment companies continue to experience substantial demand as global production capacity expands. Entering Q3, expect many of our larger customers will be focused on digest
Slide 14: Financial Overview
4 Financial Overview Treasurer & CFO, Duncan Gilmour Management Discussion & Analysis Non-GAAP Reconciliations Balance Sheet Highlights Q3 2021 Guidance inTEST
Slide 15: Operating Performance
16 Operating Performance 2021 2021 2018 2019 2020 Qi Q2 Gross Margin 50% 48% 45% 49% 50% SG&A 29% 36%? 38%° 29% 30%4 Eng: & Prod. 6% 8% 9% 7% 6% Development Operating Margin 15%» 5%? (2)%° 13% 14%4 EBITDA oA b 0, 9 0, OAd (Non-GAAP) 9%! 8%? 1%° 16% 16%' a Includes acquisition related expenses of $68
Slide 16: Q2 2021 Financial Results
16 Q2 2021 Financial Results ($ in millions except EPS) Bookings 3 $25.2 $25.1 $22 st8 $17.6 $13.9 $14.4 $14 $10 Q220 Q3 20 Q420 Qi21 Q221 Adjusted Net EPS (Non-GAAP) $0.30 $0.27 $0.24 $0.20 $0.07 $0.10 $0.05 $0.00 Q220 Q3 20 Q4 20 Qi21 Q221 -$0.01 $0.10 Net Revenues $21.8 $19.6 913.3 $14.4 $14.9 22
Slide 17: Balance Sheet Highlights
7 Balance Sheet Highlights ($ in millions) As of 6/30/2021 Cash and Cash Equivalents $14.6 Working Capital $25.0 Total Assets $70.7 Long-Term Debt $0 Shareholder Equity $51.2 inTEST
Slide 18: Q3 2021 Guidance
Q3 2021 Guidance Net Revenue $20.5M to $21.5M GAAP Net Earnings per diluted share $0.18 to $0.22 diluted EPS Non-GAAP Adjusted Net Earnings per diluted share $0.21 to $0.25 diluted EPS Gross Margin 49% to 51% This outlook is based on the Company’s current views with respect to operating and market c
Slide 19: Q&A
INTEST Corporation Q&A
Slide 20: Thank You
INTEST Corporation Thank You
Slide 21: Reconciliations for Non-GAAP Measures
INTEST Corporation Reconciliations for Non-GAAP Measures
Slide 22: Reconciliations for Non-GAAP Measures
22 Reconciliations for Non-GAAP Measures (Dollars in thousands) Reconciliation of Net Earnings (Loss) (GAAP) to EBITDA (Non-GAAP) Years Ended December 31, 2015 2016 2017 2018 2019 2020 Net earnings (loss) (GAAP) 1,861 2,658 975 3,037 2,322 (895) Net interest (income) expense (27) (49) (47) (22) (17)
Slide 23: Reconciliations for Non-GAAP Measures
2B Reconciliations for Non-GAAP Measures (Dollars in thousands) Reconciliation of Net Earnings (Loss) (GAAP) to EBITDA (Non-GAAP) Quarters Ended 3/31/20 6/30/20 9/30/20 12/31/20 3/31/21 6/30/21 Net earnings (loss) (GAAP) (1,143) 170 458 (380) 2,212 2,609 Net interest (income) expense 0 25 4 4 0 2 In
Slide 24: Reconciliations for Non-GAAP Measures
24 Reconciliations for Non-GAAP Measures (Dollars in thousands, except per share) Reconciliation of Net Earnings (Loss) (GAAP) to Adjusted Net Earnings (Non-GAAP) and Net Earnings (Loss) Per Diluted Share (GAAP) to Adjusted Net Earnings Per Diluted Share (Non- Years Ended — 2019 2020 Net earnings (l
Slide 25: Reconciliations for Non-GAAP Measures
25 Reconciliations for Non-GAAP Measures (Dollars in thousands, except per share) Reconciliation of Net Earnings (Loss) (GAAP) to Adjusted Net Earnings (Loss) (Non-GAAP) and Net Earnings (Loss) Per Diluted Share (GAAP) to Adjusted Net Earnings (Loss) Per SLEDS OSES Diluted Share (Non-GAAP) 3/34/20 6