InTest Expects Record Third-Quarter Orders as Back-End Semiconductor Demand Builds

InTest Corporation (NYSE American: INTT), a global supplier of test and process technology for the semiconductor, Auto/EV, defense/aerospace, industrial, life sciences and safety/security markets, announced on October 5, 2026 that it expects record orders for the third quarter of 2026. Based on preliminary estimates, orders came in at $48 million to $50 million, up 28% to 33% from the third quarter of 2025. Record back-end semiconductor orders led the quarter, and as a result, the company estimates a book-to-bill ratio above 1.3x.

Revenue Tracks to the High End of Guidance

InTest expects third-quarter revenue at the high end of its $33 million to $35 million guidance range. That would mean growth of more than 30% from $26.2 million in the third quarter of 2025. In addition, the company expects full-year 2026 revenue to land at the high end of its guidance range.

For context, when InTest reported second-quarter results in August, it reiterated full-year revenue guidance of $135 million to $140 million. At the midpoint, that range represents roughly 21% growth over 2025 revenue of $113.8 million.

Meanwhile, InTest estimates backlog of $58 million to $60 million at September 30, up approximately 28% to 32% from $45.4 million at June 30. These figures are preliminary and remain subject to the company’s financial closing procedures. InTest plans to report full third-quarter results on November 6, 2026.

Semiconductor Orders Lead the Quarter

“The increase in semiconductor demand we anticipated for the second half of the year has materialized, led by record back-end semiconductor orders,” said President and CEO Rich Rogoff. According to Rogoff, customers’ capacity expansions are driving demand for the company’s advanced semiconductor test solutions, “fueled in part by AI-driven data center demand.”

Newer products also contributed. Specifically, Rogoff pointed to the company’s high-powered chillers and advanced manipulators, which address customers’ rising power conversion requirements and growing mixed-signal and analog test needs.

The shift builds on a trend that first showed up in the second quarter. At that time, semiconductor orders rose approximately 56% sequentially and 64% year over year, which the company called its strongest semiconductor order intake in six quarters. However, second-quarter semiconductor revenue was $9.1 million, down 11.1% from a year earlier. In the October update, Rogoff said orders for semiconductor and other end markets booked in prior quarters are now shipping.

A Diversified Base Behind the Backlog

Before the semiconductor rebound, InTest leaned on its other markets. In the second quarter, non-semiconductor markets contributed approximately 74% of revenue, while Auto/EV revenue rose 129.3% year over year to $13.4 million. Overall, second-quarter revenue grew 25.5% to $35.3 million, and the company ended June with $22.1 million in cash and cash equivalents, up $6.4 million from the end of the first quarter.

Rogoff noted that “order levels will vary from quarter to quarter with the timing of our customers’ capital investments.” Still, he said this quarter’s order activity strengthened the backlog, “positioning us for a strong finish to 2026 and to enter 2027 with promising momentum.”

Next, management will take part in the 18th Annual CEO Investor Summit on October 13, held during SEMICON West in San Francisco.

Strategic Investment Summary

• Record Orders: InTest Corporation (NYSE American: INTT) expects third-quarter 2026 orders of $48 million to $50 million, up 28% to 33% year over year, led by record back-end semiconductor orders.
• Book-to-Bill: The company estimates a book-to-bill ratio above 1.3x for the quarter.
• Revenue Outlook: InTest expects third-quarter revenue at the high end of its $33 million to $35 million range, up more than 30% from $26.2 million a year earlier, and full-year revenue at the high end of guidance.
• Backlog Growth: The company estimates backlog of $58 million to $60 million at September 30, up about 28% to 32% from June 30.
• AI-Linked Demand: Management ties semiconductor demand partly to customer capacity expansions driven by AI data centers, with newer chillers and manipulators contributing.
• Upcoming Events: InTest will attend the CEO Investor Summit at SEMICON West on October 13 and plans to report third-quarter results on November 6, 2026.

Find out more about the latest corporate developments and financial reports at the InTest investor portal.