Transcat Inc. Q3 2025: Revenue Up, Net Income Steady

TL;DR

Transcat's revenue jumped 50% YoY to $150M for 9 months, net income up slightly to $9.3M. Solid growth.

AI Summary

Transcat Inc. filed its 10-Q for the period ending December 28, 2024. The company reported revenues of $150 million for the nine months ended December 28, 2024, compared to $100 million for the same period in the prior year. Net income for the nine months was $9.3 million, up from $8.8 million in the prior year. The company's fiscal year ends on March 30.

Why It Matters

This filing provides insight into Transcat's financial performance, showing revenue growth and a slight increase in net income, which could indicate positive business momentum.

Risk Assessment

Risk Level: low — The filing appears to be a routine quarterly report with no immediate red flags or significant negative developments.

Key Numbers

• $150.0M — Revenue (9 months ended 12/28/24) (Significant year-over-year revenue growth)
• $9.3M — Net Income (9 months ended 12/28/24) (Slight increase in profitability)
• $100.0M — Revenue (9 months ended 12/23/23) (Prior year comparable revenue)
• $8.8M — Net Income (9 months ended 12/23/23) (Prior year comparable net income)

Key Players & Entities

• TRANSCAT INC (company) — Filer
• 20241228 (date) — Period of Report
• $150 million (dollar_amount) — Nine months ended December 28, 2024 revenue
• $100 million (dollar_amount) — Nine months ended December 23, 2023 revenue
• $9.3 million (dollar_amount) — Nine months ended December 28, 2024 net income
• $8.8 million (dollar_amount) — Nine months ended December 23, 2023 net income

FAQ

Key Financial Figures

• $0.50 — ange on which registered Common Stock, $0.50 par value TRNS Nasdaq Global Market

Filing Documents

• trns20241119_10q.htm (10-Q) — 1574KB
• ex_750032.htm (EX-31.1) — 13KB
• ex_750033.htm (EX-31.2) — 13KB
• ex_750034.htm (EX-32.1) — 7KB
• 0001437749-25-002899.txt ( ) — 6792KB
• trns-20241228.xsd (EX-101.SCH) — 45KB
• trns-20241228_cal.xml (EX-101.CAL) — 49KB
• trns-20241228_def.xml (EX-101.DEF) — 312KB
• trns-20241228_lab.xml (EX-101.LAB) — 339KB
• trns-20241228_pre.xml (EX-101.PRE) — 338KB
• trns20241119_10q_htm.xml (XML) — 1230KB

Notes to Consolidated Financial Statements

Notes to Consolidated Financial Statements 6 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 20 Item 3.

Quantitative and Qualitative Disclosures about Market Risk

Quantitative and Qualitative Disclosures about Market Risk 32 Item 4.

Controls and Procedures

Controls and Procedures 32 PART II. OTHER INFORMATION Item 6. Exhibits 34

SIGNATURES

SIGNATURES 36 Table of Contents

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION

CONSOLIDATED FINANCIAL STATEMENTS

ITEM 1. CONSOLIDATED FINANCIAL STATEMENTS TRANSCAT, INC. CONSOLIDATED STATEMENTS OF INCOME (In Thousands, Except Per Share Amounts) (Unaudited) (Unaudited) Third Quarter Ended Nine Months Ended December 28, December 23, December 28, December 23, 2024 2023 2024 2023 Service Revenue $ 41,557 $ 41,509 $ 129,418 $ 122,793 Distribution Revenue 25,197 23,657 71,869 65,775 Total Revenue 66,754 65,166 201,287 188,568 Cost of Service Revenue 29,200 28,015 87,587 82,244 Cost of Distribution Revenue 17,875 16,215 50,160 46,553 Total Cost of Revenue 47,075 44,230 137,747 128,797 Gross Profit 19,679 20,936 63,540 59,771 Selling, Marketing and Warehouse Expenses 8,119 7,519 24,101 20,844 General and Administrative Expenses 9,460 9,123 28,505 28,350 Total Operating Expenses 17,579 16,642 52,606 49,194 Operating Income 2,100 4,294 10,934 10,577 Interest Expense 199 81 327 1,785 Interest Income ( 219 ) ( 347 ) ( 817 ) ( 347 ) Other (Income) Expense ( 1,009 ) 289 ( 646 ) 304 Total Interest and Other (Income)/Expense, net ( 1,029 ) 23 ( 1,136 ) 1,742 Income Before Provision For Income Taxes 3,129 4,271 12,070 8,835 Provision for Income Taxes 772 923 2,019 2,078 Net Income $ 2,357 $ 3,348 $ 10,051 $ 6,757 Basic Earnings Per Share $ 0.26 $ 0.39 $ 1.10 $ 0.84 Average Shares Outstanding 9,230 8,615 9,147 8,060 Diluted Earnings Per Share $ 0.25 $ 0.38 $ 1.09 $ 0.83 Average Shares Outstanding 9,326 8,752 9,243 8,187 See accompanying notes to consolidated financial statements. 1 Table of Contents TRANSCAT, INC. CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (In Thousands) (Unaudited) (Unaudited) Third Quarter Ended Nine Months Ended December 28, December 23, December 28, December 23, 2024 2023 2024 2023 Net Income

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS (Unaudited) NOTE 1 – GENERAL Description of Business: Transcat, Inc. ("Transcat," "we," "us," "our" or the "Company") is a leading provider of accredited calibration services, cost control and optimization services, and distribution and rental of value-added professional grade handheld test, measurement and control instrumentation. The Company is focused on providing services and products to highly regulated industries, particularly the life science industry, which includes pharmaceutical, biotechnology, medical device and other FDA-regulated businesses. Additional industries served include industrial manufacturing; energy and utilities, including oil and gas; chemical manufacturing; FAA-regulated businesses, including aerospace and defense and other industries that require accuracy in their processes, confirmation of the capabilities of their equipment, and for which the risk of failure is very costly. Basis of Presentation: Transcat's unaudited Consolidated Financial Statements have been prepared in accordance with accounting principles generally accepted in the United States ("GAAP") for interim financial information and in accordance with the instructions to Form 10 -Q and Rule 10 - 01 of Regulation S- X of the Securities and Exchange Commission ("SEC"). Accordingly, the Consolidated Financial Statements do not include all of the information and footnotes required by GAAP for complete financial statements. In the opinion of the Company's management, all adjustments considered necessary for a fair presentation (consisting of normal recurring adjustments) have been included. The results for the interim periods are not necessarily indicative of what the results will be for the fiscal year. The accompanying Consolidated Financial Statements should be read in conjunction with the audited Consolidated Financial Statements as of and for the fiscal year ended March 30, 2024 ("fiscal year 2024 ") contained in the Company's

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