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TechPrecision Q1 FY26 backlog at $50mln, gross margin expands to double digits.
ByAinvest
Thursday, Aug 21, 2025 5:00 pm ET1min read
• TechPrecision reports FY26 Q1 financial results • Backlog reaches $50mln driven by customer confidence • Gross margin expands to double-digits • Improved production efficiencies • Company reports Q1 revenue of $23.9mln, down 12% YoY • Net income at $0.01 per share vs $0.03 per share in Q1 FY25
TechPrecision Corporation (NASDAQ: TPCS) has released its financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The company reported a backlog of $50.1 million, driven by strong customer confidence, and saw its gross margin expand to double digits, primarily due to improved production efficiencies.Revenue for the quarter was $7.4 million, an 8% decrease from the same period last year, primarily due to lower revenue at Stadco, one of the company's wholly owned subsidiaries. Despite the decline in revenue, the company's gross profit increased by $0.8 million to $1.0 million, driven by improved operating performance at both Ranor and Stadco. The cost of revenue was lower at both subsidiaries, reflecting productivity gains.
Customer confidence remains high, as evidenced by the backlog reaching $50.1 million. TechPrecision expects to deliver this backlog over the next one to three fiscal years, with expectations for gross margin expansion throughout the period.
The company reported a net loss of $0.6 million for the quarter, compared to a net loss of $1.5 million in the same period last year. This improvement was primarily due to a decrease in operating loss and lower SG&A costs. Interest expense increased by 2%, primarily due to fee amortization on revolver loan renewals.
TechPrecision's financial position as of June 30, 2025, shows approximately $0.1 million in cash and cash equivalents, with total debt of $5.8 million. Working capital was negative $0.7 million, primarily due to the reclassification of long-term debt.
The company will hold a conference call to discuss these results on August 21, 2025.
References:
[1] https://www.nasdaq.com/press-release/techprecision-corporation-reports-fiscal-year-2026-first-quarter-financial-results
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