TechPrecision Corporation Reports Fiscal Year 2026 First Quarter Financial Results

TechPrecision Corporation, a custom manufacturer of precision, large-scale fabrication components and machined metal structural components, has released its financial results for the first quarter of fiscal year 2026, ending June 30, 2025. The company operates through its wholly-owned subsidiaries, Ranor and Stadco, serving the defense and precision industrial markets.

Financial Highlights

For the first quarter of fiscal 2026, TechPrecision reported:

• Revenue of $7.4 million, an 8% decrease primarily due to lower revenue at Stadco.
• Cost of revenue was $6.3 million, an 18% decrease primarily due to lower costs at Stadco.
• Gross profit increased to $1.0 million, driven by improved operating performance at both Ranor and Stadco.
• SG&A expenses were $1.5 million, a 6% decrease due to the absence of a breakup fee for the terminated Votaw acquisition.
• Operating loss was $0.5 million, compared to a loss of $1.3 million in the same period a year ago.
• Interest expense increased by 2%, primarily due to fee amortization on revolver loan renewals.
• Net loss was $0.6 million, compared to a net loss of $1.5 million in the same period a year ago.

Business and Operational Highlights

TechPrecision's backlog reached $50.1 million as of June 30, 2025, reflecting strong customer confidence. The company expects to deliver this backlog over the next one to three fiscal years, with expectations for gross margin expansion throughout the period.

Both Ranor and Stadco executed on a favorable project mix, leading to expanded gross margins and gross profit despite a decline in revenue. Productivity gains were noted in both segments, contributing to lower costs of revenue.

Strategic Initiatives and Corporate Developments

TechPrecision continues to focus on improving production efficiencies and expanding its gross margins. The company has also managed to reduce its total debt from $7.4 million on March 31, 2025, to $5.8 million on June 30, 2025.

Management's Perspective

Alexander Shen, TechPrecision’s Chief Executive Officer, commented, "Both Ranor and Stadco executed on a favorable project mix and expanded gross margins and gross profit in the first quarter, despite a decline in revenue. Customer confidence remains high with our backlog reaching $50.1 million as of June 30, 2025. We expect to deliver this backlog over the next one to three fiscal years with expectations for gross margin expansion throughout the period."

Future Outlook

TechPrecision anticipates continued gross margin expansion and productivity gains in the coming fiscal years. The company remains focused on delivering its backlog and maintaining high customer confidence.

SEC Filing: TECHPRECISION CORP [ TPCS ] - 8-K - Aug. 21, 2025