INTEST CORP reported a revenue decline and operating loss in fiscal 2025 amid continued weakness in the semiconductor ATE market, its largest end market. The company’s strategic acquisitions, including Alfamation and Acculogic, have expanded its presence in less cyclical sectors such as Auto/EV, Defense/Aerospace, Industrial, and Life Sciences. While profitability was impacted with a net loss, operating cash flow improved significantly. Backlog growth and a strong liquidity position support near-term operational stability. Management continues to focus on integration, market diversification, and prudent capital allocation while navigating ongoing sector volatility.