TechPrecision Posts $1.47M Q3 Loss as Revenue Slips 7% to $7.09M
TechPrecision Corp swung to a $1.47 million net loss in its fiscal third quarter ended December 31, posting a loss of $0.15 per share compared to a $0.08 loss a year earlier. Revenue for the quarter declined 7% to $7.09 million from $7.62 million in the prior-year period.
TechPrecision Corp swung to a $1.47 million net loss in its fiscal third quarter ended December 31, posting a loss of $0.15 per share compared to a $0.08 loss a year earlier. Revenue for the quarter declined 7% to $7.09 million from $7.62 million in the prior-year period. Read more earnings reports.
The Delaware-based precision manufacturer saw its gross profit collapse 62% to $381,000 from $991,000 in the year-ago quarter. Operating losses widened to $1.35 million from $696,000, reflecting compressed margins despite relatively flat selling and administrative expenses of $1.73 million.
For the nine months ended December 31, TechPrecision reported a cumulative net loss of $1.25 million, a sharp reversal from the $2.86 million loss posted in the same period a year earlier. Nine-month revenue totaled $23.56 million, down 4% from $24.55 million, but gross profit nearly doubled to $3.87 million from $2.24 million.
The company's balance sheet showed cash dwindling to $50,000 as of December 31 from $195,000 at the end of March 2025. Total assets declined to $32.80 million from $33.53 million over the same period, while stockholders' equity dropped to $7.98 million from $8.74 million.
Operating cash flow remained negative at $253,000 for the nine-month period, though improved from a $995,000 cash burn in the prior year. TechPrecision generated $878,000 from investing activities while using $770,000 in financing activities during the nine months.
Current liabilities rose to $18.05 million from $16.92 million at fiscal year-end, driven by working capital needs. Accounts receivable increased to $2.66 million from $2.19 million, while inventory and other current assets climbed to support operations.
| Metric | Q3 FY2026 | Q3 FY2025 | Change |
|---|---|---|---|
| Revenue | $7.09M | $7.62M | -7% |
| Gross Profit | $381K | $991K | -62% |
| Operating Loss | ($1.35M) | ($696K) | -94% |
| Net Loss | ($1.47M) | ($799K) | -84% |
| EPS (Diluted) | ($0.15) | ($0.08) | -88% |
| Nine Months Ended Dec 31 | FY2026 | FY2025 | Change |
|---|---|---|---|
| Revenue | $23.56M | $24.55M | -4% |
| Gross Profit | $3.87M | $2.24M | +73% |
| Operating Loss | ($873K) | ($2.53M) | +65% |
| Net Loss | ($1.25M) | ($2.86M) | +56% |
| Cash Flow from Operations | ($253K) | ($995K) | +75% |
TechPrecision had 10.01 million shares outstanding as of December 31, up from 9.75 million at the end of the prior fiscal year. The company maintained minimal long-term debt of $3,000 as of March 31, with no long-term debt reported on the December 31 balance sheet.