INTEST CORP 8K

InTest Corporation issued preliminary Q2 2026 results, disclosed an ERP-related inventory and gross margin error leading to a non-restatement revision and a reported material weakness in internal controls, and raised full-year 2026 revenue guidance while trimming gross margin expectations.

On July 31, 2026, InTest Corporation announced preliminary financial results for the second quarter of 2026, indicating estimated revenue of approximately $35 million—above prior guidance—and an estimated gross margin of about 40%, below its earlier gross margin guidance, primarily due to unfavorable project mix and shipment delays at its Alfamation and Environmental Technologies operations. The company disclosed that implementation issues with a new ERP system at Alfamation led to overstated inventory and gross margin in the first quarter of 2026, requiring a revision that will reduce Q1 consolidated gross profit by about $750,000 (a 220-basis point reduction in Q1 gross margin), though management concluded the error is not material to the previously issued Q1 financial statements and will be corrected via revised Q1 results rather than an amendment of prior filings. In connection with this error, InTest expects to report a material weakness in its internal control over financial reporting but believes the weakness has been remediated and anticipates demonstrating operating effectiveness by fiscal year-end. The company also raised its full-year 2026 revenue outlook to a range of $135 million to $140 million while lowering its full-year gross margin expectation to approximately 43%, and confirmed that operating expense, amortization, interest, tax-rate, and capex guidance remain unchanged, with management scheduled to discuss final Q2 results and outlook on a conference call on August 10, 2026.

Filing Facts

CIK

1036262

Ticker

-

Form

8K

Source Type

sec

Accession

0001036262-26-000040

Alert Tier

7