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InTest Corporation August 2026 17th Annual Midwest IDEAS Conference NYSE American: INTT
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2 NYSE 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,” “guidance,” “may,” “outlook,” “potential,” “forecasts,” “strategy,” 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 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 changes in U.S. and/or foreign trade policy, 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, 2025. 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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3 NYSE 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 (loss), adjusted earnings (loss) 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 (Loss) is derived by adding acquired intangible amortization, restructuring costs, and the tax effect of the adjusting items, to net earnings (loss). • Adjusted Earnings (Loss) per diluted share (“adjusted EPS”) is derived by dividing adjusted net earnings (loss) by diluted weighted average shares outstanding. • Adjusted EBITDA is derived by adding acquired intangible amortization, 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 (loss) and adjusted earnings (loss) 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, and restructuring costs 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, 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 presentation 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 (loss) and earnings (loss) per diluted share (EPS) to adjusted net earnings (loss) and adjusted earnings (loss) per diluted share (“adjusted EPS”) and from net earnings (loss) 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 | Unlocking the Potential To be the partner of choice for innovative test and process technology solutions globally I N T E S T E N D M A R K E T S S E R V E D Vision Mission Leverage our deep industry knowledge & expertise to develop and deliver high quality innovative customer solutions and superior support for complex global challenges Life Sciences Safety/Security Other Semi Automotive/EV Defense/Aero Industrial • Diversified Technology Company • Provide highly engineered solutions • Address market-driven niche applications 32% 20%13% 15% 3% 8% 10% FY25 TTM Q2
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5 NYSE American: INTT | Three Technology Divisions ELECTRONIC TEST ENVIRONMENTAL TECHNOLOGIES PROCESS TECHNOLOGIES A D V A N C E D A U T O M A T E D T E S T I N G • Semiconductor back-end recovery and growth • Increasing Semiconductor complexity & yield pressure driving testing demand • Electronification of end markets • Ongoing innovation & product differentiation in test platforms P R E C I S I O N T E M P E R A T U R E- C O N T R O L A N D T E S T I N G • High-growth markets (Defense/Aero & Ultra- Cold Applications) • Expanding channel partnerships • Innovation in thermal platforms • New leadership focused on operational discipline DIFFERENTIATED PROCESS TECHNOLOGIES • Front-end Semiconductor demand (SiC/GaN Induction Heating) • Diversification across verticals (Videology) • Broad market tailwinds (Auto/EV, Industrial, Defense/Aero) • Innovative Edge AI imaging solutions & broader integrated solutions GROWTH DRIVERS PER DIVISION
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6 NYSE American: INTT | Division Semi Auto/EV Def/Aero Industrial Life Sciences Safety/ Security Electronic Test Environmental Technologies Process Technologies Estimated Avg. Market Growth* 6%-8% 2%-3% / 15%-20% 5%-7% 3%-6% 6%-9% 8%-10% Focusing on Target Markets with Attractive Growth *Estimates from Company and multiple third–party resources including Yole, TechInsights, Semi.org., Jefferies and Global Market Insights Estimated ~$2B Serviceable Addressable Market C U S T O M E R B A S E
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7 NYSE American: INTT | COMPLEXITY/CRITICALITY • A d v a n c e d p a c k a g i n g • C h i p c o m p l e x i t y • S y s t e m- on - a - c h i p • A d v a n c e d d e f e n s e s y s t e m s • C o m m e r c i a l s p a c e POWER MANAGEMENT • S i C a n d GaN d e v i c e s • E l e c t r i c i n f r a s t r u c t u r e • B a t t e r y s t o r a g e • B a t t e r y a d v a n c e m e n t s • AI • R e n e w a b l e s Technology advancements create need for innovative test and process solutions Mega Trends Provide Growth Tailwinds ELECTRONIFICATION • A d v a n c e d D r i v e r- A s s i s t a n c e S y s t e m s ( A D A S ) • A u t o n o m o u s V e h i c l e s • E V s : B E V s , P H E V s , F C E V s • E - m o b i l i t y • I n d u s t r i a l a u t o m a t i o n • E - V T O L S
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8 NYSE American: INTT | Leveraging Global Manufacturing Footprint New Jersey (Corporate HQ & InTest EMS) Malaysia (New Shared InTest site) Canada (Acculogic) Massachusetts InTest Thermal/Videology New York (Ambrell) Italy (Alfamation) Expanding in Malaysia – “in-the-region, for-the- region strategy” Capitalizing on larger presence in Europe Exploring next region to enhance capabilities and improve customer reach Manufacturing New Locations (2024)
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9 NYSE American: INTT | New Products Key to Accelerating Revenue Growth Delivering innovation and solving customers’ complex problems E N V I R O N M E N T A L T E C H N O L O G I E S P R O C E S S T E C H N O L O G I E S BENCHTOP THERMOSTREAM EKOHEAT COMPACT E L E C T R O N I C T E S T FLYING PROBE SOLUTIONS Oscilloscope Probe RF Measurement Probe
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10 NYSE American: INTT | 10 NYSE American: INTT | Expand Opportunities in Higher-Margin End Markets Deepen Customer Footprint and Product Leadership • Semi: accelerating on demand to test high-power devices for the electrified economy • Defense/Aerospace: higher DoD capacity spending expanding the testing funnel • Auto/EV: healthy demand on rising vehicle electronic content, paced by multi-year customer programs • Growing within strategic accounts, new products gaining traction • Cross-selling the broader portfolio; extending channel and partner coverage into new customers and geographies Executing InTest’s Next Phase of Growth • Convert commercial momentum into steadier adjusted EBITDA through operating leverage across the cost structure • Continue operation review initiated in Q1 - assess manufacturing footprint and business-unit cost structure to lift efficiency and productivity Operating Leverage and Adjusted EBITDA Expansion
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11 NYSE American: INTT | 11 NYSE American: INTT | Guidance provided as of August 10, 2026. The foregoing guidance is based on management’s current views with respect to operatin g 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. Outlook for 2026 Q3 2026 Guidance • Revenue: $33 million to $35 million • Gross margin: approximately 44% • Operating expenses: $13.8 million to $14.2 million • Amortization expense : $0.5 million Revised Full Year 2026 Guidance • Revenue: $135 million to $140 million (21% Y/Y growth at the midpoint) • Gross margin: approximately 43% • Operating expenses: $55 million to $57 million • Amortization expense: $2.6 million • Interest expense: $0.3 million • Effective tax rate: approximately 18% • Capital expenditures: 1% - 2% of revenue Outlook excludes any potential acquisitions and restructuring costs
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12 NYSE American: INTT | Financial Overview
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13NYSE American: INTT | Orders(1) and Backlog(1) Orders Q/Q Q2 declined 9% • Following 3 consecutive $30M+ quarters • Semi orders up 56%, strongest intake in 6 quarters • Auto/EV down 67% after 4 strong quarters • Defense/Aerospace down 28% against a strong Q1 comparison driven by non- reoccurring orders Y/Y Q2 increased 4% • Semi up 64% as Semi funnel begins to convert to orders • Defense/Aerospace up 70% on higher DoD procurement Backlog Q/Q Q2 declined 12% • Reflects normalization from prior elevated Auto/EV peak Y/Y Q2 increased 20% Orders QuartersYears Backlog ($ in millions) (1) Orders and Backlog are key performance metrics. Further information can be found under "Key Performance Metrics."
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14NYSE American: INTT | Semi Auto/EV Defense/Aerospace Industrial Revenue 74% of Q2 26 revenue from non-Semi markets Q/Q Q2 increased 4% • Net increase due almost entirely to high- revenue, lower-margin Auto/EV shipments • Partially offset by Defense/Aerospace (against a strong Q1 comparison) Life Sciences, and Semi Y/Y Q2 increased 26% • Reflects continued, gradual recovery in capital spending and deeper penetration of non-Semi markets • Increases in Auto/EV, Life Sciences, and Industrial partially offset a decline in Semi Quarters Life Sciences Safety/Security Other ($ in millions) Years FY25 TTM Q2
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15NYSE American: INTT | Gross Profit and Margin Q/Q Q2 decreased 280 bps • Shift in product mix toward high-volume, lower- margin Auto/EV revenue • Measured against revised Q1 margin of 43.3% Y/Y decreased 210 bps • Same product mix shift toward lower-margin Auto/EV revenue QuartersYears ($ in millions) 46.2% 42.4% 43.0% 42.8% 42.6% 43.3% 40.5% † March 31, 2026 as revised †
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16NYSE American: INTT | Operating Expenses Decrease in Q2 26 $0.5 million for Q/Q reflects $0.7 million in non-recurring CEO transition costs incurred in Q1 26 Y/Y Q2 increase of $1.0 million primarily reflected by: • payroll related merit increases • higher commission costs (Selling) ($ in millions) NOTE: Components may not add up to totals due to rounding. 39.5%45.9% Operating expenses as a % of sales QuartersYears 37.7% 39.8% 46.3% 42.3% Selling Engineering G&A Amortization Restructuring 42.7% $46.5 $52.0 $52.6 $54.2 $0.8 $0.7 $1.1 $0.7 $- $14.5 $13.9$12.9 $0.9 $0.2 $0.9
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17 NYSE American: INTT | Net Earnings (Loss) and Adjusted EBITDA(2) (2) Adjusted Net Earnings (Loss), Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures within the “Supplemental Information” that accompanies this presentation. Quarters Quarters Years Years Net Earnings (Loss) Adjusted EBITDA(2) ($ in millions, except margin percentages) 0.8% $(0.5) 4.5% $1.3 $2.2$2.4 $(2.5)$2.9$9.3 $15.8$1.0 $10.8 $4.0 $8.2 $0.2 0.5% (1.8%) † March 31, 2026 as revised † † $0.5
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18 NYSE American: INTT | Earnings (Loss) per Share and Adjusted Earnings per Share(2) (2) Adjusted Net Earnings (Loss), 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. Quarters Quarters Years Years Earnings (Loss) Per Share Adjusted Earnings Per Share(2) $0.04 $0.01 $0.08 $(0.04) 0.03 $(0.21) † † † March 31, 2026 as revised
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19 NYSE American: INTT | (2) Adjusted Net Earnings (Loss), Adjusted EPS, Adjusted EBITDA, Adjusted EBITDA Margin and Free Cash Flow are non-GAAP financial measures. Further information can be found under “Non-GAAP Financial Measures.” See also the reconciliations of GAAP financial measures to non-GAAP financial measures within the “Supplemental Information” that accompanies this presentation. (3) Figures may not sum precisely to the totals due to rounding conventions. Cash Flow ($ in millions) Three Months Ended Six Months Ended 6/30/26 6/30/25 6/30/26 6/30/25 Net cash provided by (used in) operating activities $6.3 $(0.7) $3.0 $4.8 Capital expenditures (0.4) (0.5) (1.0) (0.7) Free cash flow(2), (3) (Non-GAAP) $5.9 $(1.2) $2.0 $4.2 Capitalization ($ in millions) 6/30/26 6/30/25 12/31/25 Cash, cash equivalents and restricted cash $22.1 $19.2 $18.1 Total debt $6.2 $10.1 $7.5 Shareholders’ equity $107.7 $102.6 $103.6 Total capitalization $113.9 $112.7 $111.1 Capital Structure and Cash Flow Approximately $62 million in liquidity at 6/30/26 • Includes $22.1 million in cash and cash equivalents • $40 million borrowing capacity (extended through August 28, 2026) Reduced term debt by $1.0 million during Q2 26 Leverage ratio was 0.8x (debt/TTM Adj. EBITDA(2))
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20 NYSE American: INTT | InTest Investment Highlights Diversification in Action: ~74% of Q1 Revenues from non-Semi Strengthening Market Readiness and Competitive Position Delivering Innovative New Solutions in Targeted Growth Markets Expanding Global Reach to Better Serve Customers W E L L P O S I T I O N E D F O R G R O W T H A N D P O T E N T I A L S E M I M A R K E T R E C O V E R Y Strong Financial Management
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21 NYSE American: INTT | Appendix
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22NYSE American: INTT | Highly-Engineered Automated Test Solutions F Y 2 0 2 5 R E V E N U E ( 4 9 % ) Electronic Test Division A D V A N C E D A U T O M A T E D T E S T I N G • Docking solutions • Manipulators • Electrical interfaces • Flying probe testers • Battery test systems • Automated electronics and optical test solutions S E R V I N G D I V E R S E E N D M A R K E T S • Back-end semi • Auto/EV • Industrial • Life sciences • Defense/aero • Consumer electronics The InTest Advantage • Engineering expertise combined with strong customer partnerships • Multi-test functionality across products and solutions • Setting the standard for Quality Assurance • Configurable designs catering to customer-specific applications • Exceptional control and flexibility promotes streamlined operations • Integrated systems for the most challenging applications
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23NYSE American: INTT | A global leader in precision temperature control solutions F Y 2 0 2 5 R E V E N U E ( 2 6 % ) Environmental Technologies Division P R E C I S I O N T E M P E R A T U R E- C O N T R O L A N D T E S T I N G • Integrated circuits • Printed circuit boards • Electronic components and products • Low temperature industrial process chillers S E R V I N G D I V E R S E E N D M A R K E T S • Semiconductor • Defense/aero • Automotive/EV • Life sciences • Industrial The InTest Advantage • Broadest range of temperature testing solutions • Superior product performance providing accurate temperature control from -185ºC to 500ºC • Offers rapid temperature cycling up to 100ºC/minute to accelerate test processing time and improve throughput
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24NYSE American: INTT | Technical expertise and customized solutions for wide variety of applications across multiple markets F Y 2 0 2 5 R E V E N U E ( 2 5 % ) Process Technologies Division P R O C E S S T E C H N O L O G I E S • Induction heating solutions • Embedded image capture systems The InTest Advantage • Engineering expertise, robust and precise heating solutions and THE LAB to prove the process • Board level image capture and edge AI technology enables positioning, identification and inspection • Nearly 20,000 induction heating systems and more than 1.2 Million cameras installed in more than 50 countries S E R V I N G D I V E R S E M A R K E T S • Packaging & consumer products • Automotive/EV • Defense/aero • Semiconductor crystal growth and epitaxy • Energy and utilities • Medical devices • Fasteners
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25NYSE American: INTT | Thank you.