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InTest Raises Full-Year Revenue Guidance to $135–$140 Million on Strong Semi Orders
InTest Corporation raised its full-year 2026 revenue guidance to $135 million to $140 million, reflecting approximately 21% growth at the midpoint, driven by strengthening semiconductor demand and expanded defense opportunities. Second-quarter revenue reached $35.3 million, up 25.5% year over year, marking the third consecutive quarter of sequential growth. Semiconductor orders surged 64% year over year and 56% sequentially to $12.0 million, the strongest intake in six quarters, while non-semi markets accounted for 74% of total sales. Gross margin declined to 40.5% due to an unfavorable mix of high-volume, lower-margin automotive projects, and the company reported a material weakness in internal controls at its Alfamation division, with remediation expected by fiscal year-end. Adjusted EBITDA rose 73.7% to $2.2 million, and total liquidity stood at $62 million at quarter end.