Consolidated Revenue and Gross Profit increased by 23% and 36%, respectively.

WESTMINSTER, MA / ACCESS Newswire / August 13, 2026 / TechPrecision Corporation (NASDAQ:TPCS) ("TechPrecision" or "the Company"), a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components, today reported financial results for the first quarter of fiscal year 2027, or three months ended June 30, 2026. The components that we manufacture are customer designed and sold to customers in the defense and precision industrial markets. We have two wholly owned subsidiaries that are each reportable segments, Ranor and Stadco.

Management will host a conference call on Thursday, August 13, 2026, at 4.30 p.m. ET, to discuss our financial results for the first quarter of fiscal year 2027.

"For the first quarter of fiscal year 2027 the Company reported consolidated revenue of $9.1 million or 23% higher than the same period a year ago. Consolidated gross profit was $1.4 million or 36% higher than the same period a year ago. Our Ranor segment executed on a favorable customer and project mix as revenue and gross profit increased by 27% and 4%, respectively" stated Alexander Shen, TechPrecision's Chief Executive Officer. "Our Stadco segment executed on its strategic project mix change and revenue increased by 22%, and Stadco losses narrowed as cost of revenue was virtually unchanged from the same period a year ago."

"As a result of the favorable customer and project mix at both segments, our net loss decreased by $0.4 million with equal EBITDA improvement," stated Alexander Shen, TechPrecision's Chief Executive Officer.

"Customer confidence remains high with our funded backlog reaching $52.7 million as of June 30, 2026, with approximately $22 million of additional unfunded purchase orders," Mr. Shen continued. "We expect to deliver this backlog over the next one to three fiscal years with expectations for gross margin improvement throughout the period."

"For the remainder of fiscal 2027, the Company remains on track to deliver double-digit revenue growth and resulting EBITDA as we continue to execute on the strategic customer and project mix plan," stated Alexander Shen, TechPrecision's Chief Executive Officer. The Company is holding to its FY 2027 guidance of Revenue growth of +10% to $35.0M - $37.0M and EBITDA growth of +80% to $3.0M-$4.0M.

The following summary compares the three months ended June 30, 2026 to the same prior year period:

Consolidated Financial Results - Three Months Ended June 30, 2026

• Revenue was $9.1 million, a 23% increase on a favorable customer and project mix at both segments.

• Cost of revenue was $7.7 million, or a 21% increase in line with segment revenue growth.

• Gross profit was $1.4 million, an increase of 36% primarily on higher revenue at both segments.

• SG&A decreased by 3% primarily on a decrease in professional fees and office costs.

• Operating loss was $45,000, a 90% improvement due primarily to the higher margin drop-through.

• Interest expense decreased 21%, due to lower interest costs incurred on loans.

• Net loss was $0.2 million, compared with net loss of $0.6 million in the same period a year ago.

Financial Position

On June 30, 2026, and March 31, 2026, the Company had approximately $0.3 million and $0.4 million in cash, respectively. Working capital was negative $46,000 and total debt was $5.0 million on June 30, 2026. Working capital was negative $0.4 million on March 31, 2026, and debt totaled $7.0 million. Negative working capital reflects required classification of all debt obligations as current due to certain debt covenant violations.

Conference Call

The Company will hold a conference call at 4:30 p.m. Eastern (U.S.) time on Thursday, August 13, 2026. To participate in the live conference call, please dial 1-888-506-0062 five to 10 minutes prior to the scheduled conference call time. International callers should dial 1-973-528-0011. When prompted, reference TechPrecision and enter code 723051.

A replay will be available until August 27, 2026. To access the replay, dial 1-877-481-4010 or 1-919-882-2331. When prompted, enter Conference Passcode 54397.
The call will also be available over the Internet and accessible at: https://www.webcaster5.com/Webcast/Page/2198/54397.

About TechPrecision Corporation

TechPrecision Corporation, through its wholly owned subsidiaries, Ranor, Inc. and Stadco, is a custom manufacturer of precision, large-scale fabrication components and precision, large-scale machined metal structural components. The manufacturing operations of our Ranor subsidiary are situated on approximately 65 acres in North Central Massachusetts. Leveraging our 145,000 square foot facilities, Ranor provides a full range of custom solutions to transform material into precision finished welded components and precision finished machined components up to 100 tons: manufacturing engineering, materials management and traceability, high-precision heavy fabrication (in-house fabrication operations include cutting, press and roll forming, welding, heat treating, assembly, blasting and painting), heavy high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including portable CMM, NonDestructive Testing, and final packaging.

All manufacturing at Ranor is performed in accordance with customer requirements. Ranor is an ISO 9001:2015 certificate holder. Ranor is a US defense-centric company with over 95% of its revenue in the defense sector. Ranor is registered and compliant with ITAR.

The manufacturing operations of our Stadco subsidiary are situated in an industrial self-contained multi-building complex comprised of approximately 183,000 square feet under roof in Los Angeles, California. Stadco manufactures large mission-critical components on several high-profile military aircraft, military helicopter, and military space programs. Stadco has been a critical supplier to a blue-chip customer base that includes some of the largest OEMs and prime contractors in the defense and aerospace industries. Stadco also manufactures tooling, molds, fixtures, jigs and dies used in the production of defense-centric aircraft components.

Our Stadco subsidiary, similar to Ranor, provides a full range of custom solutions: manufacturing engineering, materials management and traceability, high-precision fabrication (in-house fabrication operations include waterjet cutting, press forming, welding, and assembly) and high-precision machining (in-house machining operations include CNC programming, finishing, and assembly), QC inspection including both fixed and portable CMM NonDestructive Testing, and final packaging. In addition, Stadco features a large electron beam welding cell, and two NonDestructive Testing work cells, a unique mission-critical technology set.

All manufacturing at Stadco is performed in accordance with customer requirements. Stadco is an AS 9100 D and ISO 9001:2015 certificate holder and a NADCAP NonDestructive Testing certificate holder. Stadco is a US defense-centric company with over 95% of its revenue in the defense sector. Stadco is registered and compliant with ITAR.

To learn more about the Company, please visit the corporate website at http://www.techprecision.com. Information on the Company's website or any other website does not constitute a part of this press release.

Safe Harbor Statement

This release contains certain "forward-looking statements" relating to the business of the Company and its subsidiary companies. All statements other than statements of current or historical fact contained in this press release, including statements that express our intentions, plans, objectives, beliefs, expectations, strategies, predictions or any other statements relating to our future activities or other future events or conditions are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "predict," "project," "prospects," "will," "should," "would" and similar expressions, as they relate to us, are intended to identify forward-looking statements. These statements are based on current expectations, estimates and projections made by management about our business, our industry and other conditions affecting our financial condition, results of operations or business prospects. These statements are not guarantees of future performance and involve risks, uncertainties and assumptions that are difficult to predict. Therefore, actual outcomes and results may differ materially from what is expressed or forecasted in, or implied by, the forward-looking statements due to numerous risks and uncertainties. Factors that could cause such outcomes and results to differ include, but are not limited to, risks and uncertainties arising from: our reliance on individual purchase orders, rather than long-term contracts, to generate revenue; our ability to balance the composition of our revenues and effectively control operating expenses; external factors that may be outside our control, including health emergencies, like epidemics or pandemics, geopolitical conflicts, price inflation, interest rate increases and supply chain disruptions; the availability of appropriate financing facilities impacting our operations, financial condition and/or liquidity; our ability to receive contract awards through competitive bidding processes; our ability to maintain standards to enable us to manufacture products to exacting specifications; our ability to enter new markets for our services; our reliance on a small number of customers for a significant percentage of our business; competitive pressures in the markets we serve; changes in the availability or cost of raw materials and energy for our production facilities; restrictions in our ability to operate our business due to our outstanding indebtedness; government tariffs, regulations and requirements; pricing and business development difficulties; changes in government spending on national defense; our ability to make acquisitions and successfully integrate those acquisitions with our business; our failure to maintain effective internal controls over financial reporting; general industry and market conditions and growth rates; and other risks discussed in the Company's periodic reports that are filed with the Securities and Exchange Commission and available on its website (www.sec.gov). Any forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to publicly update or revise any forward-looking statements to reflect events or circumstances that may arise after the date of this press release, except as required by applicable law. Investors should evaluate any statements made by us in light of these important factors.

TECHPRECISION CORPORATION
CONDENSED CONSOLIDATED BALANCE SHEETS

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CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)

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REVENUE, COST OF REVENUE, GROSS PROFIT BY SEGMENT
(Unaudited)

¹Net of intersegment eliminations

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CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)

EBITDA Non-GAAP Financial Measure

¹Includes amortization of debt issue costs

SOURCE: TechPrecision Corporation