Intest Corporation · AMEX:INTT
Intest — 14th Annual NYC Summit December 2025
34 slides from Intest's conference presentation, Dec 16, 2025
Slide 1: InTest Corporation 14th Annual NYC Summit December 2025
InTest Corporation 14th Annual NYC Summit December 2025 December 16, 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: Unlocking the Potential: Vision, Mission and End Markets Served
Unlocking the Potential INTEST END MARKETS SERVED Vision 10% 11% 2% 3% 4% 6% To be the partner of choice for $122M $118M 36% 14% innovative test and process TTM 39% 12% TTM technology solutions globally Q3/24 Q3/25 10% 12% 20% 20% Mission Semi Automotive/EV Defense/Aero Industrial Leverage our deep
Slide 5: Three Technology Divisions
Three Technology Divisions ELECTRONIC TEST ENVIRONMENTAL TECHNOLOGIES PROCESS TECHNOLOGIES GROWTH DRIVERS PER DIVISION ADVANCED AUTOMATED TESTING PRECISION TEMPERATURE-CONTROL DIFFERENTIATED PROCESS TECHNOLOGIES AND TESTING • Semiconductor back-end recovery and • Front-end Semiconductor demand growt
Slide 6: Focusing on Target Markets with Attractive Growth
Focusing on Target Markets with Attractive Growth Estimated ~$2B Serviceable Addressable Market Life Safety/ Division Semi Auto/EV Def/Aero Industrial Sciences Security Electronic Test Environmental Technologies Process Technologies Estimated Avg. 2%-3% / 6%-8% 5%-7% 3%-6% 6%-9% 8%-10% Market Growth
Slide 7: Mega Trends Provide Growth Tailwinds
Mega Trends Provide Growth Tailwinds Technology advancements create need for innovative test and process solutions ELECTRONIFICATION POWER MANAGEMENT COMPLEXITY/CRITICALITY • Advanced Driver- • SiC and GaN devices • Advanced packaging Assistance Systems (ADAS) • Electric infrastructure • Chip comple
Slide 8: VISION 2030 Growth Strategy
VISION 2030 Growth Strategy Focus Area Strategic Priority 5-POINT Revenue Growth $235–$285M by 2030 via organic growth + OPERATING SYSTEM acquisitions Profit Targets ~20% division operating income margin; Global & Innovation & ~10% operating income margin at mid- Market Expansion Differentiation rev
Slide 9: Leveraging Global Manufacturing Footprint
Leveraging Global Manufacturing Footprint Manufacturing Expanding in Malaysia – New Locations (2024) “in-the-region, for-the- region strategy” Canada Capitalizing on larger (Acculogic) New York (Ambrell) presence in Europe New Jersey Massachusetts (Corporate HQ & Italy InTest EMS) InTest Thermal/Vid
Slide 10: New Products Key to Accelerating Revenue Growth
New Products Key to Accelerating Revenue Growth Delivering innovation and solving customers’ complex problems ELECTRONIC ENVIRONMENTAL PROCESS TEST TECHNOLOGIES TECHNOLOGIES FLYING PROBE SOLUTIONS BENCHTOP THERMOSTREAM EKOHEAT COMPACT Oscilloscope RF Measurement Probe Probe NYSE American: INTT | 10
Slide 11: Strategic Acquisitions Remain a Critical Element of VISION 2030
Strategic Acquisitions Remain a Critical $20 million to $40 million in size Element of VISION 2030 Growth Strategy Roll-up or service revenue enhancing SCALE THE DIVISIONS: Geographic expansion Targeting $50 million to $60 million of total acquired revenue Deepen reach in target markets Well defined
Slide 12: Near Term Growth Initiatives
Near Term Growth Initiatives Building and diversifying funnel of opportunities ENSURING INTEST IS Widening new customer aperture BEST POSITIONED TO FOR LONG TERM Broadening channel partner network GROWTH Accelerating new product development and time-to-market Further penetrating target markets Conti
Slide 13: Financial Overview
Financial Overview NYSE American: INTT | 13
Slide 14: Orders and Backlog
Orders and Backlog(1) ($ 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 $27.8 model year program starts; Alfamation had record orders for
Slide 15: Revenue
Revenue ($ 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 $26.2 • Declines in Defense/Aerospace, Auto/EV, Semi and Industrial • Life Sciences, Safety/Security and Other markets increased compared with t
Slide 16: Gross Profit and Margin
Gross Profit and Margin ($ 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 $11.0 bps y/y • Reflecting lower volume a
Slide 17: Operating Expenses
Operating Expenses ($ 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 $2.1
Slide 18: Earnings (Loss) and Adjusted EBITDA
Earnings (Loss) and Adjusted EBITDA(2) ($ 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) $(0.08) Q3 24 Q2 25 Q3 25 Q3
Slide 19: Capital Structure and Cash Flow
Capital Structure and Cash Flow ($ 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 20: Fourth Quarter Guidance and 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 21: InTest Investment Highlights
InTest Investment Highlights Q3 Order Strength Validates Market Diversification Strategy INTEST REVENUE BY SEGMENT Strengthening Market Readiness and Competitive Position 25% $118M Delivering Innovative New Solutions in Targeted Growth Markets TTM 51% Q3/25 24% Expanding Global Reach to Better Serve
Slide 22: InTest Corporation 14th Annual NYC Summit December 2025
InTest Corporation 14th Annual NYC Summit December 2025 December 16, 2025 Nick Grant, President and CEO Duncan Gilmour, CFO and Treasurer NYSE American: INTT | NYSE American: INTT |
Slide 23: Appendix
Appendix NYSE American: INTT | 23
Slide 24: Electronic Test Division The InTest Advantage
Electronic Test Division The InTest Advantage Highly-Engineered • Engineering expertise combined with Automated Test Solutions strong customer partnerships ADVANCED AUTOMATED TESTING • Multi-test functionality across products and solutions • Docking solutions • Manipulators • Setting the standard fo
Slide 25: Environmental Technologies Division The InTest Advantage
Environmental Technologies The InTest Advantage Division A global leader in precision • Broadest range of temperature temperature control solutions testing solutions PRECISION TEMPERATURE-CONTROL • Superior product performance AND TESTING providing accurate temperature • Integrated circuits control
Slide 26: Process Technologies Division The InTest Advantage
Process Technologies Division The InTest Advantage • Engineering expertise, robust and Technical expertise and customized precise heating solutions and solutions for wide variety of THE LAB to prove the process applications across multiple markets • Board level image capture and edge AI technology e
Slide 27: Established a Culture of Operational Excellence
Established a Culture of Operational Excellence Employed Lean Six Sigma Discipline Data Driven Analysis • Improve processes • Eliminate waste • Enhance performance Define, Measure, Analyze, Improve, Control Objectives: • Enhance efficiencies • Promote continuous improvement • Reduce operational cost
Slide 28: Supplemental Information
Supplemental Information NYSE American: INTT | 28
Slide 29: Reconciliation of Net Earnings to Adjusted Net Earnings and EPS
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 30: Reconciliation of Net Earnings to Adjusted Net Earnings and EPS
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 31: Reconciliation of Net Earnings 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 32: Reconciliation of Net Earnings 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 33: 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 34: 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