Slide 1: Second Quarter 2025 Financial Results Conference Call
Second Quarter 2025 Financial Results Conference Call August 6, 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 statements. Such risks and uncertainties include, but access to capital and the ability to borrow funds or This presentation includes forward-looking statements are not limited to, any mentioned in this presentation as
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: Executing on VISION 2030 Amid Customer Hesitation on Capital Spend
Executing on VISION 2030 Amid Customer Hesitation on Capital Spend 5-POINT OPERATING SYSTEM New record customer opportunity funnel • Orders(1) up 6% y/y; 10% sequentially • Revenue grew 6% sequentially Global & Innovation & • Higher demand from Alfamation Market Differentiation Expansion Positioning
Slide 5: VISION 2030: Geographic Expansion
VISION 2030: Geographic Expansion • Drive innovation and acquisitions to create even greater scale • “In the Region, for the Region” Strategy • Strive toward Operational Excellence Engineering Resources having an impact Mfg. Floorspace now completed New Penang, Malaysia Facility NYSE American: INTT
Slide 6: Orders and Backlog
Orders and Backlog(1) ($ in millions) ORDERS Years Quarters Sequentially, orders up 9.5% • Auto/EV up 39.6% driven by 2027 model year $129.6 $116.6 $107.7 $111.8 program starts; Alfamation contributed $27.8 $5.6 million of orders $26.2 $25.3 • Customers remain hesitant to spend • Semi down $2.3 mill
Slide 7: Revenue
Revenue ($ in millions) Years Quarters Revenue up $1.5 million sequentially $130.7 $123.3 $121.6 $34.0 • Increase was primarily related to semi, industrial, $116.8 $26.6 $28.1 defense/aero, and safety/security • Life sciences and other markets decreased compared with trailing first quarter Q2 2025 r
Slide 8: Gross Profit and Margin
Gross Profit and Margin ($ in millions) Years Quarters Sequential margin expansion of 110 bps • Higher volume and ongoing cost actions $57.0 $55.4 • Executing tariff mitigation tactics and $53.4 $51.6 $13.8 capturing price $12.0 $11.1 Q2 gross margin of 42.6% improving 200 bps y/y • Due to more favo
Slide 9: Operating Expenses
Operating Expenses ($ in millions) Operating expenses as a % of sales Q2 2025 operating expenses decreased 36.6% 37.7% 39.8% 43.3% 39.6% 52.3% 45.9% $1.0 million sequentially Years Quarters • Ongoing cost reduction efforts, including the recently announced leadership transition $52.0 $52.8 Y/Y, oper
Slide 10: Earnings (Loss) and Adjusted EBITDA
Earnings (Loss) and Adjusted EBITDA(1) ($ in millions, except per share data) Net Earnings (Loss) and Adjusted EBITDA/ (1) (1) EPS and Adjusted EPS Adjusted EBITDA Margin Quarters Quarters $0.08 $2.2 $0.02 $0.03 $1.3 $0.2 6.3% -3.3% 4.5% $(0.04) $(0.11) ($0.9) $(0.5) $(0.19) $(2.3) Q2 24 Q1 25 Q2 25
Slide 11: Capital Structure and Cash Flow
Capital Structure and Cash Flow ($ in millions) Three Months Six Months Cash Flow Ended Ended Reduced debt by $4.9 million 6/30/25 6/30/24 6/30/25 6/30/24 during 1H 2025 • $1.7 million in Q2 2025 Net cash (used) provided by $ (0.7) $ (5.1) $ 4.8 $ (3.0) operating activities (GAAP) Capital expenditur
Slide 12: Third Quarter Guidance
Third Quarter Guidance Expecting to deliver Q/Q Growth 5-POINT • Revenue expected to be $28 million to $30 million OPERATING SYSTEM • Gross margin similar to Q2 2025 • Operating expenses of $12.6 million to $13.1 million • Excludes ~$0.1 million in Videology and other restructuring expenses Amortiza
Slide 13: Executing our VISION 2030 Growth Strategy
Executing our VISION 2030 Growth Strategy Remain on track to achieve VISION 2030 goals • Driving innovation, market diversification and geographic expansion • Prioritizing operational excellence to improve profitability • Well positioned to benefit when markets improve New all-time high customer fun
Slide 14: Conference Call Playback and Upcoming Events
Conference Call Playback • Replay Number: (412) 317-6671 passcode: 13754235 • Telephone replay available through Wednesday, August 20, 2025 • Webcast / Presentation / Replay available at www.intest.com/investor-relations • Transcript, when available, at www.intest.com/investor-relations Upcoming Eve
Slide 15: Supplemental Information
Supplemental Information Q2 2025 Financial Results Conference Call NYSE American: INTT | 15
Slide 16: Reconciliation of Net Earnings to Adjusted Net Earnings and EPS
Reconciliation of Net Earnings to Adjusted Net Earnings (Non-GAAP) and Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) ($ in thousands, except per share amounts) Three Months Ended 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 Net earnings (loss) $ 230 $ 495 $ 1,504
Slide 17: Reconciliation of Net Earnings to Adjusted Net Earnings and EPS (Annual)
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 Q2 2022 2023 2024 2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (833) Acqui
Slide 18: Reconciliation of Net Earnings to Adjusted EBITDA (Quarterly)
Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) ($ in thousands) Three Months Ended 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 Net earnings (loss) $ 230 $ 495 $ 1,504 $ (2,329) $ (503) Acquired intangible amortization 897 944
Slide 19: Reconciliation of Net Earnings to Adjusted EBITDA (Annual)
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 6/30/2025 Net earnings (loss) $ 8,461 $ 9,342 $ 2,891 $ (833) Acquired intangible amortization 2,694 2,095 2,545 2,716
Slide 20: Segment Reporting (Quarterly)
Segment Reporting (Quarterly) ($ in thousands) Three Months Ended 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 Electronic Test $ 16,159 $ 15,481 $ 21,122 $ 13,259 $ 13,733 Environmental Technologies 8,273 6,734 7,063 6,268 7,215 Process Technologies 9,559 % of 8,057 % of 8,418 % of 7,110 % of
Slide 21: Segment Reporting (12 Months)
Segment Reporting (12 Months) ($ in thousands) Years Ended TTM 12/31/2023 12/31/2024 6/30/2025 Electronic Test $ 41,016 $ 63,878 $ 63,595 Environmental Technologies 30,801 28,898 27,280 Process Technologies 51,485 % of 37,914 % of 30,767 % of Total Revenue $ 123,302 divisional $ 130,690 divisional $