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| NYSE American: INTT | Third Quarter 2025 Financial Results Conference Call NYSE American: INTT November 5, 2025 Nick Grant, President and CEO Duncan Gilmour, CFO and Treasurer
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2NYSE American: INTT | Forward-looking Statements and Key Performance Metrics Key Performance Metrics In addition to the non-GAAP measures described on the next slide, management uses orders and backlog as key performance metrics to analyze and measure the Company’s financial performance and results of operations. Management uses orders and backlog as measures of current and future business and financial performance, and these may not be comparable with measures provided by other companies. Orders represent written communications received from customers requesting the Company to provide products and/or services. Backlog is calculated based on firm purchase orders we receive for which revenue has not yet been recognized. Management believes tracking orders and backlog are useful as they are often leading indicators of future performance. In accordance with industry practice, contracts may include provisions for cancellation, termination, or suspension at the discretion of the customer. Given that each of orders and backlog are operational measures and that the Company’s methodology for calculating orders and backlog does not meet the definition of a non-GAAP measure, as that term is defined by the U.S. Securities and Exchange Commission, a quantitative reconciliation for each is not required or provided. 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 future events and financial results, such as statements of the Company’s plans, strategies and intentions, or our future performance or goals, that are based upon management’s current expectations. These forward-looking statements can often be identified by the use of forward-looking terminology such as “believe,” “continue,” “expects,” “guidance,” “may,” “outlook,” “plan,” “potential,” “forecasts,” “target,” “estimates,” or similar terminology. These statements are subject to risks and uncertainties that could cause actual results to differ materially from those expressed or implied by such statements. Such risks and uncertainties include, but are not limited to, any mentioned in this presentation as well as the Company’s ability to execute on its Vision 2030 Growth Strategy, realize the potential benefits of acquisitions and successfully integrate any acquired operations, grow the Company’s presence in its key target and international markets, manage supply chain challenges, convert backlog to sales and to ship product in a timely manner; the success of the Company’s strategy to diversify its markets; the impact of inflation on the Company’s business and financial condition; indications of a change in the market cycles in the semi market or other markets served; changes in business conditions and general economic conditions both domestically and globally including rising interest rates and fluctuation in foreign currency exchange rates; changes in the demand for semiconductors; access to capital and the ability to borrow funds or raise capital to finance potential acquisitions or for working capital; changes in the rates and timing of capital expenditures by the Company’s customers; and other risk factors set forth from time to time in the Company’s Securities and Exchange Commission filings, including, but not limited to, the Annual Report on Form 10-K for the year ended December 31, 2024. Any forward-looking statement made by the Company in this presentation is based only on information currently available to management and speaks to circumstances only as of the date on which it is made. The Company undertakes no obligation to update the information in this presentation to reflect events or circumstances after the date hereof or to reflect the occurrence of anticipated or unanticipated events, except as required by law.
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3NYSE American: INTT | 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 earnings per diluted share (“adjusted EPS”), adjusted EBITDA, adjusted EBITDA margin, and free cash flow. The Company defines these non-GAAP measures as follows: • Adjusted Net Earnings is derived by adding acquired intangible amortization, acquired inventory step-up expense, and restructuring costs adjusted for the tax effect of adjusting items, to net earnings. • Adjusted Earnings per diluted share (“adjusted EPS”) is derived by dividing adjusted net earnings by diluted weighted average shares outstanding. • Adjusted EBITDA is derived by adding acquired intangible amortization, acquired inventory step-up expense, restructuring costs, net interest expense, income tax expense, depreciation, and stock-based compensation expense to net earnings. • Adjusted EBITDA Margin is derived by dividing adjusted EBITDA by revenue. • Free Cash Flow is derived by subtracting capital expenditures from net cash provided by or used in operating activities. These results are provided as a complement to the results provided in accordance with GAAP. Adjusted net earnings and adjusted earnings per diluted share (adjusted EPS) are non-GAAP financial measures presented to provide investors with meaningful, supplemental information regarding our baseline performance before acquired intangible amortization, restructuring costs, and inventory step-up charges as management believes these expenses may not be indicative of our underlying operating performance. Adjusted EBITDA and adjusted EBITDA margin are non-GAAP financial measures presented primarily as a measure of liquidity as they exclude non-cash charges for acquired intangible amortization, acquired inventory step-up, depreciation and stock-based compensation. In addition, adjusted EBITDA and adjusted EBITDA margin also exclude the impact of restructuring costs, interest income or expense and income tax expense or benefit, as management believes these expenses may not be indicative of our underlying operating performance. Management believes that free cash flow provides meaningful information for evaluating our overall financial performance for comparative periods as it facilitates an assessment of funds available to satisfy current and future obligations and fund acquisitions. The non-GAAP financial measures presented in this press release are used by management to make operational decisions, to forecast future operational results, and for comparison with our business plan, historical operating results and the operating results of our peers. Reconciliations from net earnings and earnings per diluted share (EPS) to adjusted net earnings and adjusted earnings per diluted share (adjusted EPS) and from net earnings and net margin to adjusted EBITDA and adjusted EBITDA margin, are contained in the tables below. Management believes these Non-GAAP financial measures are important in evaluating our performance, results of operations, and financial position. We use non-GAAP financial measures to supplement our GAAP results to provide a more complete understanding of the factors and trends affecting our business. Non-GAAP measures as presented in this presentation may differ from and may not be comparable to similarly titled measures used by other companies.
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4NYSE American: INTT | 5-POINT OPERATING SYSTEM Global & Market Expansion Talent & Culture Strategic Acquisitions & Partnerships Service & Support Innovation & Differentiation Orders(1) Strength Validates Diversification Strategy and Market Recovery Readiness Continued to strengthen competitive position • Driving adoption of new products • Penetrating new customer accounts Revenue below forecast • Technical challenges associated with a combination of new capabilities, new customers and new markets • Issues resolved; systems have been shipped (1) Orders and Backlog are key performance metrics. Further information can be found under "Key Performance Metrics." • Reduced debt by $6.2M since Dec 31, 2024 • Includes $1.2 million reduction in Q3 Further reduced debt • Orders(1) up 34.2% y/y; 35.6% sequentially • Higher demand from Automotive and increased spending in Defense/Aerospace Highest level of orders since Q2 2022
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5NYSE American: INTT | Orders and Backlog (1) Sequentially, orders up 35.6% • Led by Auto/EV, which accounted for 76% of the increase • Auto/EV orders increased 106% driven by 2027 model year program starts; Alfamation had record orders for quarter • Defense/Aerospace increased 156% due to increased test demand for next generation weapons systems • Encouraged to see some pockets of customers move forward with capital projects Q3 orders up 34.2% y/y • Strength in Auto/EV, Industrial and Defense/Aerospace Backlog up 30.1% sequentially • Approximately 55% of backlog is expected to ship beyond Q4 2025 $28.1 $27.8 Q3 24 Q2 25 Q3 25 $129.6 $116.6 $107.7 $121.4 2022 2023 2024 TTM Q3 2025 ORDERS $45.5 $39.5 $38.2 $37.9 $49.3 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 QuartersYears BACKLOG ($ in millions) $37.6
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6NYSE American: INTT | Revenue Revenue down $1.9 million sequentially • Due to late-quarter shipment delays • Declines in Defense/Aerospace, Auto/EV, Semi and Industrial • Life Sciences, Safety/Security and Other markets increased compared with trailing second quarter 3Q 2025 revenue down $4.0 million y/y • Semi decreased $1.6 million • Auto/EV decreased $1.3 million • Partially offset by increases in Life Sciences, Safety/Security and Industrial Continue to diversify in target markets $116.8 $123.3 $130.7 $117.6 2022 2023 2024 TTM Q3 2025 Years 36% 20% 12% 12% 6% 3% 11% TTM Q3 2025 $30.3 $28.1 $26.2 Q3 2024 Q2 2025 Q3 2025 Quarters Life Sciences Safety/Security Other ($ in millions) 39% 20% 10% 14% 4% 2% 10% TTM Q3 2024 Semi Auto/EV Defense/Aerospace Industrial
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7NYSE American: INTT | Gross Profit and Margin Sequential margin contraction of 70 bps • Primarily attributable to lower volume • Continue to execute tariff mitigation tactics Q3 gross margin of 41.9% decreased 440 bps y/y • Reflecting lower volume and unfavorable product mix $14.0 $12.0 $11.0 46.3% 42.6% 41.9% Q3 2024 Q2 2025 Q3 2025 $53.4 $57.0 $55.4 $48.6 45.7% 46.2% 42.4% 41.3% 2022 2023 2024 TTM Q3 2025 QuartersYears ($ in millions)
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8NYSE American: INTT | Operating Expenses Q3 2025 operating expenses decreased $0.7 million sequentially • Better than forecasted Y/Y, operating expenses decreased $1.3 million • Primarily due to cost reduction efforts • Operating expenses include $0.8 million of amortization and $0.1 million of restructuring costs • Consolidating Videology facilities for estimated $0.5 million annualized savings beginning in 2026 Maintaining rigorous spending discipline ($ in millions) NOTE: Components may not add up to totals due to rounding. $4.3 $3.8 $3.8 $2.2 $2.2 $2.3 $6.1 $5.8 $5.1 $0.9 $0.9 $0.8 $0.2 $0.1 $13.5 $12.9 $12.2 Q3 2024 Q2 2025 Q3 2025 46.4%44.7% Operating expenses as a % of sales $15.9 $17.6 $17.4 $16.5 $7.5 $7.6 $8.5 $9.2 $16.6 $19.2 $23.6 $22.5 $2.7 $2.1 $2.5 $2.6 $0.6 2022 2023 2024 TTM Q3 2025 QuartersYears 36.6% 37.7% 39.8% 43.8% Selling Engineering G&A Amortization Restructuring 45.6% $42.7 $46.5 $52.0 $51.5
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9NYSE American: INTT | Earnings (Loss) and Adjusted EBITDA(2) (2) Adjusted Net Earnings, Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures within the “Supplemental Information” that accompanies this presentation. $0.5 $(0.5) $(0.9) $2.4 $1.3 $0.4 8.1% 4.5% 1.5% Q3 24 Q2 25 Q3 25 $0.04 $(0.04) $(0.08) $0.10 $0.03 $(0.02) Q3 24 Q2 25 Q3 25 EPS and Adjusted EPS(2) Net Earnings (Loss) and Adjusted EBITDA/ Adjusted EBITDA Margin (2) $8.5 $9.3 $2.9 $(2.3) $16.0 $15.8 $10.8 $5.2 13.7% 12.8% 8.3% 4.4% 2022 2023 2024 TTM Q3 2025 Net Earnings (Loss) Adjusted EBITDA $0.78 $0.79 $0.24 $(0.19) $0.99 $0.94 $0.51 $0.13 2022 2023 2024 TTM Q3 2025 EPS Adjusted EPS Quarters Quarters Years Years (2) (2) ($ in millions, except per share data)
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10NYSE American: INTT | (3) Figures may not sum precisely to the totals due to rounding conventions. Cash Flow Three Months Ended Nine Months Ended 9/30/25 9/30/24 9/30/25 9/30/24 Net cash provided by operating activities (GAAP) $ 3.5 $4.2 $ 8.4 $ 1.2 Capital expenditures (0.4) (0.5) (1.1) (1.2) Free cash flow (2), (3) (Non-GAAP) $ 3.1 $ 3.7 $ 7.2 $ 0.1 Capitalization 9/30/25 9/30/24 12/31/24 Cash, cash equivalents and restricted cash $ 21.1 $ 18.0 $ 19.8 Total debt $ 8.9 $ 16.1 $ 15.0 Shareholders’ equity $ 101.9 $ 100.4 $ 99.8 Total capitalization (3) $ 110.7 $ 116.5 $ 114.8 Capital Structure and Cash Flow Approximately $61 million in liquidity at 9/30/2025 • Includes $21.1 million in cash, cash equivalents and restricted cash • $40 million borrowing capacity Reduced debt by $6.2 million during first nine months 2025 • $1.2 million in Q3 2025 Leverage ratio was 1.7x (debt/TTM Adj. EBITDA (2) ) ($ in millions)
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11NYSE American: INTT | Guidance provided as of November 5, 2025. The foregoing guidance is based on management’s current views with respect to operating and market conditions and customers’ forecasts. It also assumes macroeconomic conditions remain unchanged through the end of the year and does not take into account any extraordinary non-operating expenses that may occur from time to time. Actual results may differ materially from what is provided here today as a result of, among other things, the factors described under “Forward-Looking Statements” on slide 2. 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 interest expense are expected to be similar to Q3 2025 Considerations • Technical challenges with new capabilities resolved, guidance includes ~$2 million of Q3 delayed shipments • Long-term fundamentals remain intact with InTest maintaining strong market leadership in niche, high-value applications • Benefiting from diversification efforts • Strengthened readiness for recovery • Backlog improved and pipeline is robust • Customer remain hesitant to commit to capital projects in certain markets Outlook excludes any potential acquisitions and incremental restructuring VISION 2030 Defining the Next Phase of InTest’s Future
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12NYSE American: INTT | Well positioned to benefit as markets improve overall Healthy balance sheet to support long term strategy Funnel of opportunities remains strong • Validated by new products adoption, market diversification and geographic expansion • Continue to prioritize operational excellence to improve profitability • Reduced debt by $6.2 million in 2025 • $30 million capacity available under term loan and $10 million under revolving credit • Customers value InTest’s innovative solutions • Encouraged with wins in Defense/Aerospace and Auto/EV Executing our VISION 2030 Strategy
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| NYSE American: INTT | • Replay Number: (412) 317-6671 passcode: 13756099 • Telephone replay available through Wednesday, November 19, 2025 • Webcast / Presentation / Replay available at www.intest.com/investor-relations • Transcript, when available, at www.intest.com/investor-relations • November 19, 2025 Southwest Ideas Conference Dallas • December 16, 2025 CEO Summit NYC Conference Call Playback Upcoming Events
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14NYSE American: INTT | Supplemental Information Q3 2025 Financial Results Conference Call
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| NYSE American: INTT | 15 ($ in thousands, except per share amounts) Reconciliation of Net Earnings to Adjusted Net Earnings (Non-GAAP) and Earnings Per Diluted Share to Adjusted Earnings Per Diluted Share (Non-GAAP) 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 944 109 813 850 841 Restructuring costs - - 313 216 116 Acquired inventory step-up - 1,570 - - - Tax effect of adjusting items (128) (401) (186) (165) (217) Adjusted net earnings (loss)(2) (Non-GAAP) 1,311$ 2,782$ (1,389)$ 398$ (198)$ Diluted weighted average shares outstanding 12,252 12,216 12,179 12,246 12,209 Net earnings per diluted share: Net earnings (loss) 0.04$ 0.12$ (0.19)$ (0.04)$ (0.08)$ Acquired intangible amortization 0.08 0.01 0.07 0.07 0.07 Restructuring costs - - 0.03 0.02 0.01 Acquired inventory step-up - 0.13 - - - Tax effect of adjusting items (0.01) (0.03) (0.02) (0.01) (0.02) Adjusted net earnings (loss) per diluted share(2)(3) (Non-GAAP) 0.11$ 0.23$ (0.11)$ 0.03$ (0.02)$ Three Months Ended
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| NYSE American: INTT | 16 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) 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 2,613 Restructuring costs - - - 645 Acquired inventory step-up - - 1,570 1,570 Tax effect of adjusting items (447) (324) (792) (969) Adjusted net earnings (loss)(2) (Non-GAAP) 10,708$ 11,113$ 6,214$ 1,593$ Diluted weighted average shares outstanding 10,863 11,780 12,239 12,213 Net earnings per diluted share: Net earnings (loss) 0.78$ 0.79$ 0.24$ (0.19)$ Acquired intangible amortization 0.25 0.18 0.21 0.21 Restructuring costs - - - 0.05 Acquired inventory step-up - - 0.13 0.13 Tax effect of adjusting items (0.04) (0.03) (0.06) (0.08) Adjusted net earnings (loss) per diluted share(2)(3) (Non-GAAP) 0.99$ 0.94$ 0.51$ 0.13$ Years Ended December 31,
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| NYSE American: INTT | 17 Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) ($ in thousands) 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 944 109 813 850 841 Acquired inventory step-up - 1,570 - - - Net interest expense 36 109 37 30 (18) Income tax expense (benefit) 74 298 (460) (80) (289) Depreciation 355 415 316 314 317 Restructuring costs - - 313 216 116 Non-cash stock-based compensation 537 407 423 435 354 Adjusted EBITDA(2) (Non-GAAP) 2,441$ 4,412$ (887)$ 1,262$ 383$ Revenue 30,272 36,603 26,637 28,130 26,236 Net margin 1.6% 4.1% (8.7%) (1.8%) (3.6%) Adjusted EBITDA margin(2) (Non-GAAP) 8.1% 12.1% (3.3%) 4.5% 1.5% Three Months Ended
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| NYSE American: INTT | 18 Reconciliation of Net Earnings and Net Margin to Adjusted EBITDA (Non-GAAP) and Adjusted EBITDA Margin (Non-GAAP) ($ in thousands) 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 2,613 Acquired inventory step-up - - 1,570 1,570 Net interest expense (income) 600 (404) (7) 158 Income tax expense (benefit) 1,684 1,706 563 (531) Depreciation 810 1,021 1,399 1,362 Restructuring costs - - - 645 Non-cash stock-based compensation 1,787 2,047 1,857 1,619 Adjusted EBITDA(2) (Non-GAAP) 16,036$ 15,807$ 10,818$ 5,170$ Revenue 116,828 123,302 130,690 117,606 Net margin 7.2% 7.6% 2.2% (1.9%) Adjusted EBITDA margin(2) (Non-GAAP) 13.7% 12.8% 8.3% 4.4% Years Ended December 31,
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| NYSE American: INTT | 19 Segment Reporting (Quarterly) ($ in thousands) 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 $ 30,272 $ 36,603 $ 26,637 $ 28,130 $ 26,236 % of divsional revenue % of divsional revenue % of divsional revenue % of divsional revenue % of divsional revenue Electronic Test $ 2,311 15% $ 2,865 14% $ 681 5% $ 1,560 11% $ 1,146 9% Environmental Technologies 426 6% 682 10% (255) (4%) 611 8% 780 10% Process Technologies 1,070 13% 971 12% 207 3% 399 6% (98) (1%) Total income from divisional operations 3,807 13% 4,518 12% 633 2% 2,570 9% 1,828 7% Corporate expense (2,376) (2,330) (2,388) (2,431) (2,064) Acquired intangible amortization (944) (109) (813) (850) (841) Restructuring costs - - (313) (216) (116) Interest expense (219) (234) (152) (119) (95) Other income (expense) 301 (43) 244 463 61 Earnings before income tax expense 569$ 1,802$ (2,789)$ (583)$ (1,227)$ Three Months Ended
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| NYSE American: INTT | 20 Segment Reporting (12 Months) ($ in thousands) 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 divsional revenue % of divsional revenue % of divsional revenue Electronic Test $ 10,189 25% $ 8,732 14% $ 6,252 10% Environmental Technologies 3,073 10% 2,116 7% 1,818 6% Process Technologies 9,544 19% 4,972 13% 1,479 5% Total income from divisional operations 22,806 18% 15,820 12% 9,549 8% Corporate expense (10,272) (9,881) (9,213) Acquired intangible amortization (2,095) (2,545) (2,613) Restructuring costs - - (645) Interest expense (679) (846) (600) Other income (expense) 1,288 906 725 Earnings before income tax expense 11,048$ 3,454$ (2,797)$ Years Ended December 31,