TechPrecision Earnings Call Transcripts
Fiscal Year 2026
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Q4 2026 revenue fell 15% year-over-year, with gross profit down 47% due to delays and legacy contracts, but backlog remains strong at $52 million. FY 2027 guidance projects revenue of $35–$37 million and EBITDA of $3–$4 million, nearly doubling prior year EBITDA.
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Q3 revenue fell 7% year-over-year to $7.1 million, driven by Stadco's losses from legacy contracts and delays, while Ranor remained stable. Backlog is strong at $46 million, with management focused on margin expansion and improved contract selection.
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Q2 revenue grew 2% year-over-year to $9.1M, with gross profit and margins up sharply due to improved customer mix and operational execution. Statco showed significant margin improvement despite legacy contract headwinds, and a $48M backlog supports future growth and margin expansion.
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Revenue declined 8% year-over-year to $7.4M, but gross profit rose to $1M on improved margins. Backlog hit a record $50.1M, with management focused on resolving legacy contract losses and pursuing new defense opportunities. Debt was reduced, but working capital remains negative.
Fiscal Year 2025
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Q4 revenue grew 10% year-over-year to $9.5M, with gross profit up 70% and net income positive. Full-year revenue rose 8% to $34M, Raynor remained profitable, and Stadco returned to profitability in Q4. Backlog is strong at $48.6M, with margin expansion expected.
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Q3 revenue was $7.6M, down slightly year-over-year, with a net loss of $0.8M. Ranor remained profitable, while Stadco faced ongoing legacy pricing challenges but is securing new business. Backlog stands at $45.5M, and $4M in new Navy grants was awarded to Ranor.
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Q2 revenue rose 12% year-over-year, but gross profit declined due to higher costs at Stadco. Ranor showed improved profitability, while liquidity remains tight and CFO transition is pending. Strong backlog and defense sector demand support a positive outlook.
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Q1 FY2025 saw an $8M revenue (up 8% YoY) but a $1.5M net loss, driven by Stadco's equipment failures and a $400K breakup fee from the terminated Votaw acquisition. Backlog remains strong at $41.2M, with management focused on cash and risk management.