$TPCS

TECHPRECISION CORP

CIK:0001328792|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
Revenue	$ 9,096	$ 7,379
Cost of revenue	7,696	6,349
Gross profit	1,400	1,030
Selling, general and administrative	1,445	1,493
Loss from operations	(45)	(463)
Other (expense) income	(2)	1
Interest expense	(106)	(135)
Total other expense, net	(108)	(134)
Loss before income taxes	(153)	(597)
Income tax expense (benefit)	0
Net loss	$ (153)	$ (597)
Net loss per share - basic (in dollars per share)	$ (0.02)	$ (0.06)
Net loss per share - diluted (in dollars per share)	$ (0.02)	$ (0.06)
Weighted average shares outstanding - basic (in shares)	10,100,311	9,757,846
Weighted average shares outstanding - diluted (in shares)	10,100,311	9,757,846

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
CASH FLOWS FROM OPERATING ACTIVITIES:
Net loss	$ (153)	$ (597)
Adjustments to reconcile net loss to net cash provided by operating activities:
Depreciation and amortization	698	701
Amortization of debt issue costs	14	29
Stock based compensation expense	92	69
Change in contract loss provision	178	(250)
Loss on disposal of fixed assets	2
Changes in operating assets and liabilities:
Accounts receivable	(585)	(602)
Contract assets	408	510
Work-in-process and raw materials	(226)	(337)
Other current assets	649	85
Accounts payable	1,037	178
Accrued expenses	(222)	67
Contract liabilities	18	922
Other noncurrent liabilities	(12)	(129)
Net cash provided by operating activities	1,898	646
CASH FLOWS FROM INVESTING ACTIVITIES:
Purchases of property, plant, and equipment	(2,436)	(1,250)
Reimbursements for purchases of property, plant and equipment	2,420	2,226
Net cash (used in) provided by investing activities	(16)	976
CASH FLOWS FROM FINANCING ACTIVITIES:
Debt issue costs	(13)	(17)
Revolver loan borrowings	6,553	2,755
Revolver loan payments	(8,400)	(4,241)
Payments of principal for leases	(1)	(2)
Repayment of long-term debt	(173)	(169)
Net cash used in financing activities	(2,034)	(1,674)
Net decrease in cash	(152)	(52)
Cash - beginning of period	431	195
Cash - end of period	279	143
SUPPLEMENTAL DISCLOSURES OF CASH FLOWS INFORMATION:
Cash paid for interest	$ 91	$ 110

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Mar. 31, 2026
Current assets:
Cash	$ 279	$ 431
Accounts receivable	3,073	2,488
Contract assets	10,400	10,808
Raw materials	2,025	1,927
Work-in-process	1,155	1,027
Other current assets	396	1,045
Total current assets	17,328	17,726
Property, plant and equipment, net	10,382	10,874
Right of use asset, net	3,407	3,550
Other noncurrent assets	122	122
Total assets	31,239	32,272
Current liabilities:
Accounts payable	3,452	2,415
Accrued expenses	4,022	3,868
Income taxes payable	31	31
Contract liabilities	2,935	2,917
Customer deposits	1,252	1,252
Current portion of long-term lease liability	817	800
Current portion of long-term debt, net	4,865	6,884
Total current liabilities	17,374	18,167
Long-term lease liability	2,697	2,864
Other noncurrent liability	3,556	3,568
Total liabilities	23,627	24,599
Commitments and contingent liabilities (see Note 14)
Stockholders' Equity:
Common stock - par value $.0001 per share, 50,000,000 shares authorized: Shares issued and outstanding: June 30, 2026 - 10,133,261 and 10,100,311; March 31, 2026 - 10,078,381 and 10,024,469, respectively.	1	1
Additional paid in capital	19,574	19,482
Accumulated deficit	(11,963)	(11,810)
Total stockholders' equity	7,612	7,673
Total liabilities and stockholders' equity	$ 31,239	$ 32,272