TECHPRECISION CORP

TechPrecision reported a reduced net loss of $153k for Q1 2026, down from $597k in Q1 2025, with revenue increasing to $9.096 million. However, the company faces substantial doubt about its ability to continue as a going concern due to non-compliance with debt covenants, specifically the balance sheet leverage covenant. All long-term debt has been reclassified as current, and the company needs to renew its revolver loan or secure alternative financing by September 15, 2026.

TechPrecision Corporation reported strong financial results for the first quarter of fiscal year 2027, with consolidated revenue increasing 23% to $9.1 million and gross profit rising 36% to $1.4 million. The company significantly narrowed its net loss to $0.2 million and improved EBITDA to $651,000. Both Ranor and Stadco segments contributed to revenue growth, and the company maintains its positive FY2027 guidance for double-digit revenue and substantial EBITDA growth, supported by a robust funded backlog of $52.7 million.

TECHPRECISION CORP's auditors have expressed substantial doubt about the company's ability to continue as a going concern due to non-compliance with financial covenants in its loan agreement as of March 31, 2026. The company reported total revenue of $31.6 million in fiscal 2026, a decrease from $34.0 million in fiscal 2025, with a significant concentration in defense customers. While backlog increased to $52.2 million, the company faces risks from potential lender actions and its dependence on a limited number of customers.

TechPrecision Corporation reported its financial results for the fourth quarter and fiscal year ended March 31, 2026. For the full fiscal year 2026, the company achieved a 300 basis point expansion in consolidated gross margin and a 15% increase in gross profit to $5.0 million, with net loss improving by 41% to $1.6 million, driven by strategic project mix changes. However, Q4 2026 saw a 15% decrease in revenue to $8.1 million and a net loss of $0.4 million. The company provided positive guidance for fiscal year 2027, projecting revenue growth of 10% to $35.0-$37.0 million and EBITDA growth of 80% to $3.0-$4.0 million, supported by a funded backlog of $52.1 million.

TechPrecision Corporation's subsidiary, Ranor, and its affiliates, entered into an amendment with Beacon Bank & Trust to extend the maturity date of their $4.5 million revolving line of credit loan from May 15, 2026, to September 15, 2026. The amendment introduces new covenants requiring the Borrowers to provide a refinancing term sheet by July 31, 2026, or face asset examinations and collateral appraisals. Additionally, a $15,000 fee will be imposed if obligations remain outstanding after the new maturity date, with nonpayment constituting an event of default.