Q4 2025 Vishay Precision Group Inc Earnings Call

February 11, 2026

Speaker #1: Welcome, everyone. The VPG fourth quarter 2025 earnings call will begin in shortly. In the meantime, if you would like to pre-register to ask a question, please press star followed by 1 on your telephone keypad.

Operator: Welcome, everyone. The VPG Q4 2025 Earnings Call will begin shortly. In the meantime, if you would like to pre-register to ask a question, please press * followed by 1 on your telephone keypad. If you change your mind, please press * followed by 2. Thank you. Hello, everyone, and thank you for joining the VPG Q4 2025 Earnings Call. My name is Claire, and I will be coordinating your call today. During the presentation, you can register a question by pressing * followed by 1 on your telephone keypad. If you change your mind, please press * followed by 2 on your telephone keypad. I will now hand over to Steve Cantor, Senior Director Investor Relations at VPG, to begin. Please go.

Speaker #1: If you change your mind, please press star followed by 2. Thank you. Hello, everyone, and thank you for joining the VPG fourth quarter 2025 earnings call.

Speaker #1: My name is Claire, and I will be coordinating your call today. During the presentation, you can register a question by pressing star followed by 1 on your telephone keypad.

Speaker #1: If you change your mind, please press star followed by 2 on your telephone keypad. I will now hand over to Steve Cantor, Senior Director Investor Relations at VPG, to begin.

Speaker #1: Please go

Speaker #2: Thank you, Claire. Good morning, everyone. Welcome to VPG's 2025 fourth quarter earnings conference call. Our Q4 press release and slides have been posted on VPG's website, and an audio recording of today's call will be available on the internet for a limited time. It can also be accessed on our website.

Steve Cantor: Thank you, Claire. Good morning, everyone. Welcome to VPG's 2025 Q4 Earnings Conference Call. Our Q4 press release and slides have been posted on VPG's website. An audio recording of today's call will be available on the internet for a limited time and can also be accessed on our website. Today's remarks are governed by the Safe Harbor provisions of the 1995 Private Securities Litigation Reform Act. Our actual results may vary from forward-looking statements. For a discussion of the risks associated with VPG's operations, we encourage you to refer to our SEC filings, especially the Form 10-K for the year ended December 31, 2024, and our other recent SEC filings. On the call today are Ziv Shoshani, CEO and President, and Bill Clancy, CFO. I'll now turn the call to Ziv for some prepared remarks. Ziv?

Speaker #2: Today's remarks are governed by the Safe Harbor provisions of the 1995 Private Securities Litigation Reform Act, our actual results may vary from forward-looking statements.

Speaker #2: For a discussion of the risks associated with VPG's operations, we encourage you to refer to our SEC filings, especially the Form 10-K for the year ended December 31, 2024, and our other recent SEC filings.

Speaker #2: On the call today, our Zeev Shoshani, CEO and President, and Bill Clancy, CFO. I'll now turn the call to Zeev for some prepared remarks.

Speaker #2: Zeev?

Speaker #3: Thank you, Steve. I will

Ziv Shoshani: Thank you, Steve. I will begin with some commentary on our results and trends for the Q4 and on our strategy. Bill will provide financial details and our outlook for the Q1 of 2026. Moving to slide 3. To summarize our Q4 2025 results, Q4 marked our fifth consecutive quarter with a book-to-bill over 1, led by sensors. While Q4 gross margin reflected the number of headwinds, we expect gross margin to improve in Q1. With sensors ramping and backlog at a multi-year high, we expect higher shipments beginning in Q2 and continued progress on our growth initiatives. Specifically, Q4 revenues of $80.6 million were up 11% year-over-year and 1% sequentially, reflecting solid execution across the portfolio. We achieved another quarter of a positive booking trend as our consolidated orders of $81.3 million grew 2% sequentially.

Speaker #3: begin with some commentary on our results, and trends for the fourth quarter. And on our strategy. Bill will provide financial details and our outlook for the first quarter of 2026.

Speaker #3: Moving to slide 3. To summarize our Q4 2025 results, Q4 marked our fifth consecutive quarter with a book-to-bill over 1, led by sensors. While Q4 gross margin reflected a number of headwinds, we expect gross margin to improve in Q1.

Speaker #3: With sensors ramping and backlog at a multi-year high, we expect higher shipments beginning in Q2 and continued progress on our growth initiatives. Specifically, fourth quarter revenues of $80.6 million was up 11% year over year, and 1% sequentially.

Speaker #3: Reflecting solid execution across the portfolio. We achieved another quarter of a positive booking trend as our consolidated orders of $81.3 million grew 2% sequentially.

Speaker #3: This resulted in a book-to-bill of $1.01, the fifth consecutive quarter of book-to-bill of 1 or better. We continue to make good progress across our business development initiatives, including humanoid robots and semiconductor equipment.

Ziv Shoshani: This resulted in a book-to-bill of 1.01, the fifth consecutive quarter of book-to-bill of 1 or better. We continue to make good progress across our business development initiatives, including humanoid robots and semiconductor equipment. These efforts generated $11.8 million in orders during the Q4, bringing total orders from these initiatives to $37.8 million for the full year of 2025, which exceeded our goal of $30 million for the year. Our Q4 adjusted gross margin of 37% was impacted by $3 million of headwinds, including unusual unfavorable product mix, inventory reductions, and discrete inventory and manufacturing impacts. We expect gross margin to improve in Q1. We are currently ramping production of sensors products and expect to realize higher sales in the Q2. I'll now review the business performance by segments. Moving to slide 4.

Speaker #3: This effort generated $11.8 million in orders during the fourth quarter. Bringing total orders from this initiatives to $37.8 million for the full year of 2025.

Speaker #3: Which exceeded our goal of $30 million for the year. Our fourth quarter adjusted gross margin of $37% was impacted by $3 million of headwinds, including unusual unfavorable product mix, inventory reductions, and discrete inventory and manufacturing impacts.

Speaker #3: We expect gross margin to improve in Q1. We are currently ramping production of sensors products and expect to realize higher sales in the second quarter.

Speaker #3: I'll now review the business performance by segments. Moving to slide 4. Beginning with our sensor segment, fourth quarter revenue declined 4% sequentially, but was 18% higher than a year ago.

Ziv Shoshani: Beginning with our sensors segment, Q4 revenue declined 4% sequentially but was 18% higher than a year ago. Compared to Q3, continued strength in test and measurement related to semiconductor equipment was offset by softer sales to the AMS and the general industrial market. Bookings for sensors continued its positive trend and reached its highest level in Q3. Sensor bookings rose 4% sequentially and were 30% above a year ago, resulting in a book-to-bill of 1.15. The bookings growth from Q3 was driven by higher orders in general industrial, our other markets for consumer electronics, and AMS. In addition, we are pleased with the demand related to the test and measurement market, particularly for semiconductor test equipment applications. Total sensors orders were up 18% in the Q2 of 2025 compared to Q1, with sensors backlog at the highest level since Q3 of 2023.

Speaker #3: Compared to the third quarter, continued strength in test and measurement related to semiconductor equipment was offset by softer sales to the AMS and the General Industrial Market.

Speaker #3: Booking for sensors continued its positive trend and reached its highest level in 13 quarters. Sensor bookings rose 4% sequentially, and were 30% above a year ago.

Speaker #3: Resulting in a book-to-bill of 1.15. The bookings growth from the third quarter was driven by higher orders in General Industrial, our other markets for consumer electronics, and AMS.

Speaker #3: In addition, we are pleased with the demand-related to the test and measurement market. Particularly for semiconductor test equipment applications. Total sensors orders were up 18% in the second half of 2025 compared to the first half.

Speaker #3: With sensors backlog, at the highest level, since Q3 of 2023. We are currently hiring to ramp up production to meet demand which should lead to increased sales beginning of Q2.

Ziv Shoshani: We are currently hiring to ramp up production to meet demand, which should lead to increased sales beginning Q2. A key highlight continues to be our growing momentum with humanoid robots developments in Q4. We received $800,000 in humanoid-related orders, including a follow-on booking for our first two customers and an initial prototype order for Q3. This new customer is an emerging robotics company developing humanoids to enhance productivity and streamline daily operations in both homes and warehouse environments. In addition, in January we received a follow-on order from one of our initial two humanoid customers of approximately $1 million. 2026 is expected to be a pivotal year for the overall humanoid robotics market, as leading companies move decisively from prototype into early production and real-world deployment.

Speaker #3: A key highlight continues to be our growing momentum with humanoid robots developments. In Q4. We received $800,000 in humanoid-related orders including a follow-on bookings for our first two customers and an initial prototype order for the third.

Speaker #3: This new customer is an emerging robotics company developing humanoids to enhance productivity and streamline daily operations in both homes and warehouse environment. In addition, in January, we received a follow-on orders from one of our initial two humanoid customers of approximately $1 million.

Speaker #3: 2026 is expected to be a pivotal year for the overall humanoid robotics market. As leading companies move decisively from prototype into early production and real-world deployment.

Speaker #3: Technical challenges remain, but they play directly to our strengths and create strong demand for our high-value, high-performance solutions that solve their problems to advance dexterity, stability, responsiveness, and safety.

Ziv Shoshani: Technical challenges remain, but they play directly to our strength and create strong demand for our high-value, high-performance solutions that solve their problems to advance dexterity, stability, responsiveness, and safety. While the timing and scale of production ramps across the humanoid robot market remains unclear, we expect 2026 to bring continued momentum for VPG. Our infrastructure and supply chain teams are prepared to support customers' production demands. Moving to slide 5. Turning to our weighing solutions segment. Q4 sales increased modestly from Q3 and grew 7.8% from prior year. The sequential increase was primarily evident in our industrial weighing market. Weighing solutions orders were up 14.9% sequentially to $28.2 million, resulting in a book-to-bill of 1.02. Specific areas of strength were in our other markets for precision ag, medical, construction, and e-bike applications. Orders were also higher in the transportation for onboard weighing systems for heavy-use trucks.

Speaker #3: While the timing and scale of production ramps across the humanoid robot market remains unclear, we expect 2026 to bring continued momentum for VPG. Our infrastructure and supply chain teams are prepared to support customers' production demands.

Speaker #3: Moving to slide 5. Turning to our weighing solution segment. Fourth quarter sales increased modestly, from the third quarter and grew 7.8% from prior year.

Speaker #3: The sequential increase was primarily evident in our industrial weighing market. Weighing solutions orders were up 14.9% sequentially, to 28.2 million, resulting in a book-to-bill of 1.02.

Speaker #3: Specific areas of strength were in our other markets for precision ag, medical, construction, and e-bike applications. Orders were also higher in the transportation for onboard weighing systems for heavy-use trucks.

Speaker #3: While there are signs that some of these end markets have reached their cyclical bottom, we continue to see mixed trends across our customers. Moving to slide 6.

Ziv Shoshani: While there are signs that some of these end markets have reached their cyclical bottom, we continue to see mixed trends across our OEM customers. Moving to slide 6. Turning to our measurement systems segment. Revenue in Q4 of $22.4 million increased 9% sequentially and 6% from a year ago. The sequential increase reflected a record high sales for DSI R&D tool for development of new metal alloys. We also had higher sales in AMS for testing new avionics platforms. Q4 measurement systems orders of $18.1 million declined 16% from Q3 and resulted in a book-to-bill of 0.81. Lower orders in our steel market, which mostly reflected the timing of projects, in the middle of a soft global steel market, offset stronger sales of DTS products used in crash safety testing.

Speaker #3: Turning to our Measurement Systems segment. Revenue in the fourth quarter of $22.4 million increased 9% sequentially and 6% from a year ago. The sequential increase reflected record-high sales for DSI R&D tools for development of new metal alloys.

Speaker #3: We also had higher sales in AMS for testing new avionics platforms. Fourth quarter measurement systems orders of 18.1 million, declined 16% from the third quarter.

Speaker #3: And resulted in a book-to-bill of 0.81. Lower orders in our steel market, which mostly reflected the timing of projects, in the middle of a soft global steel market, offset stronger sales of DTS products used in crash safety testing.

Speaker #3: Our pipeline remained healthy and given the timing of customers' projects we expect to return to a positive book-to-bill in Q1. Moving to slide 7.

Ziv Shoshani: Our pipeline remained healthy, and given the timing of customers' projects, we expect to return to a positive book-to-bill in Q1. Moving to slide 7. Looking at the year in total, fiscal 2025 was a year of transformation for VPG. While our revenues of $307.2 million grew slightly from the prior year, sales in Q2 were up 9% from Q1. In addition, we had steady improvements in orders through the year, particularly in the sensors segment. Our performance in our business development initiatives of $37.8 million in 2025 exceeded our goal of $30 million for the year. We also delivered $4.5 million of targeted cost reductions as part of ongoing cost efficiency plans. Moving to slide 8. Most significantly, during 2025, we took steps to position VPG for its next phase of accelerated growth.

Speaker #3: Looking at the year in total, fiscal 2025 was a year of transformation for VPG. While our revenues of $307.2 million grew slightly from the prior year, sales in the second half were up 9% from the first half.

Speaker #3: In addition, we had a steady improvement in orders through the year. Particularly in the sensor segment. Our performance in our business development initiatives of 37.8 million in 2025 exceeded our goal of 30 million for the year.

Speaker #3: We also delivered 4.5 million of targeted cost reductions as part of ongoing cost efficiency plans. Moving to slide 8. Most significantly, during 2025, we took steps to position VPG for its next phase of accelerated growth.

Speaker #3: Over the past several years, we strengthened and streamlined our operation to support higher volume opportunities, and sharpened how we develop and track our growth initiatives.

Ziv Shoshani: Over the past several years, we strengthened and streamlined our operation to support higher volume opportunities and sharpen how we develop and track our growth initiatives. Those efforts have prepared us to move into the next phase, which involves a fundamental rewiring of our business. As we announced in November, a key component is the creation of the two new senior executives' positions and corresponding organizations: the Office of the Chief Business and Product Officer and the Office of Chief Operating Officer. Each organization has a clear mandate. The CBPO's focus is on accelerating growth by refining our internal sales and product development processes, thus expanding our opportunity set and increasing our conversion rate with both new and existing customers. The CO organization is supporting this accelerated growth by driving improvements in operational efficiency and readiness while also reducing our cost structure.

Speaker #3: Those efforts have prepared us to move into the next phase, which involves a fundamental rewiring of our business. As we announced in November, the key component is the creation of the two new senior executives positions and corresponding organizations.

Speaker #3: The office of the chief business and product officer and the office of chief operating officer. Each organization has a clear mandate. The CBPO's focus is on accelerating growth by refining our internal sales and product development processes.

Speaker #3: Thus expanding our opportunity set and increasing our conversion rate with both new and existing customers. The CEO organization is supporting this accelerated growth by driving improvements in operational efficiency, and readiness, while also reducing our cost structure.

Speaker #3: Creating this cross-divisional center of excellence organizations marks a major shift from the diversified operating structure that defined much of our history. The reason is simple.

Ziv Shoshani: Creating this cross-divisional center of excellence organizations marks a major shift from the diversified operating structure that defined much of our history. The reason is simple: the opportunities ahead are being driven by large, mainstream market and technology trends, and are bigger and more significant than ever. As we enter Q1 transition period, the new organization will work on the core and cross-company processes, redesigning them into standardized, scalable, unified, and up-to-date global processes, while also implementing industry best practices. The new processes will be fully placed in Q2. We expect an additional $3 million of SG&A cost in 2026 to support the new organizational structure as well as new IT platforms. As a result of the new organization, we expect $2 million in savings through cost reduction initiatives. The net effect is $1 million to support the new organization.

Speaker #3: The opportunities ahead are being driven by large, mainstream market and technology trends. And are bigger and more significant than ever. As we enter Q1 transition period, the new organization will work on the core and cross-company processes redesigning them into standardized, scalable, unified, and up-to-date global processes.

Speaker #3: While also implementing industry-best practices. The new processes will be fully placed in Q2. We expect an additional 3 million of SG&A cost in 2026 to support the new organizational structure as well as new IT platforms.

Speaker #3: As a result of the new organization, we expect 2 million in savings through cost reduction initiatives the net effect is 1 million to support the new organization.

Speaker #3: A key trend driving our long-term opportunities is the emergence of physical AI technologies. Physical AI is the class of AI systems that perceives the real world, makes decisions, and drives physical actions through machine or control systems.

Ziv Shoshani: A key trend driving our long-term opportunities is the emergence of Physical AI technologies. Physical AI is the class of AI systems that perceives the real world, makes decisions, and drives physical actions through machine or control systems. It sits at the intersection of AI and machine learning, sensors, controls, and humanoids. As Physical AI gains broader adoption, certain types are expected to have bigger, longer-term impact than others. VPG is looking to provide solutions in the humanoids and autonomous logistics. As a result, we are excited about our growth prospects. We have set an internal goal this year to grow our top line in the mid to high single digits, as we anticipate a stronger Q2 reflecting strengthening economic trends and capital investments, as well as continued progress with our ongoing growth initiatives.

Speaker #3: It sits at the intersection of AI and machine learning, sensors, controls, and humanoids. As physical AI gains broader adoption, certain types are expected to have a bigger, longer-term impact than others.

Speaker #3: VPG is looking to provide solutions in the humanoids and autonomous logistics. As a result, we are excited about our growth prospects we have set an internal goal this year to grow our top line in the mid to high single digits as we anticipate a stronger second half reflecting strengthening economic trends and capital investments.

Speaker #3: As well as continued progress with our ongoing growth initiatives. Given our current pipeline from business development initiatives, we are setting a target of 45 million for 2026.

Ziv Shoshani: Given our current pipeline from business development initiatives, we are setting a target of $45 million for 2026, which represents a 20% increase from 2025. Before turning the call to Bill, I would like to thank our employees for their dedication, their past year, and their embrace of the changes we are making. I want to thank our customers for their trust and confidence as we continue to work hard to exceed their expectations. I will now turn it over to Bill Clancy. Bill? Thank you, Ziv. Referring to slide 9 and the reconciliation tables of the slide deck, our Q4 2025 revenues were $80.6 million. Adjusted gross margin of 37% in Q4, decreased from 40.5% in Q3, was impacted by $1 million related to unfavorable product mix, and $1 million due to inventory reductions.

Speaker #3: Which represents a 20% increase from 2025. Before turning the call to bill, I would like to thank our employees for their dedication, their past year, and their embrace of the changes we are making.

Speaker #3: I want to thank our customers for their trust and confidence as we continue to work hard to exceed their expectations. I will now turn it over to Bill Clancy.

Speaker #3: Bill?

Bill Clancy: Thank you, Ziv. Referring to slide 9 and the reconciliation tables of the slide deck, our Q4 2025 revenues were $80.6 million. Adjusted gross margin of 37% in Q4, decreased from 40.5% in Q3, was impacted by $1 million related to unfavorable product mix, and $1 million due to inventory reductions.

Speaker #2: Thank you,

Speaker #2: Steve. Referring to slide 9 and the reconciliation tables of the slide deck for our fourth quarter of 2025 revenues were 80.6 million. Adjusted gross margin of 37% in the fourth quarter decreased from 40.5% in the third quarter was impacted by 1 million dollars related to unfavorable product mix and 1 million dollars due to inventory reductions.

Speaker #2: In addition, we incurred approximately 1 million dollars of discrete inventory and manufacturing impacts as well as a $400,000 impact from unfavorable foreign exchange. Sequentially by segment, adjusted gross margin for sensors of 28.5% declined due to lower volume and unfavorable product mix and foreign exchange rates.

Ziv Shoshani: In addition, we incurred approximately $1 million of discrete inventory and manufacturing impacts, as well as a $400,000 impact from unfavorable foreign exchange. Sequentially by segment, adjusted gross margin for sensors of 28.5% declined due to lower volume and unfavorable product mix and foreign exchange rates. The weighing solutions' gross margin of 33% decreased from Q3, primarily due to one-time manufacturing fixed costs, a reduction of inventory, and higher logistics costs. Adjusted gross margin for the measurement systems of 53.3% increased from Q3 due to higher volume, partially offset by discrete inventory adjustments. Moving to slide 10. Our adjusted operating margin was 2.3%, which excluded restructuring costs of $697,000 and $110,000 of purchase accounting adjustments. Selling, general, and administrative expense for Q4 was $27.9 million, with 34.7% of revenues, which was modestly higher than Q3, reflecting hiring for the new organizational structure and higher travel and commission costs.

Bill Clancy: In addition, we incurred approximately $1 million of discrete inventory and manufacturing impacts, as well as a $400,000 impact from unfavorable foreign exchange. Sequentially by segment, adjusted gross margin for sensors of 28.5% declined due to lower volume and unfavorable product mix and foreign exchange rates. The weighing solutions' gross margin of 33% decreased from Q3, primarily due to one-time manufacturing fixed costs, a reduction of inventory, and higher logistics costs. Adjusted gross margin for the measurement systems of 53.3% increased from Q3 due to higher volume, partially offset by discrete inventory adjustments. Moving to slide 10. Our adjusted operating margin was 2.3%, which excluded restructuring costs of $697,000 and $110,000 of purchase accounting adjustments. Selling, general, and administrative expense for Q4 was $27.9 million, with 34.7% of revenues, which was modestly higher than Q3, reflecting hiring for the new organizational structure and higher travel and commission costs.

Speaker #2: The weighing solutions gross margin of 33% decreased from the third quarter primarily due to one-time manufacturing fixed costs a reduction of inventory and higher logistics costs.

Speaker #2: Adjusted gross margin for the measurement systems of 53.3% increased from the third quarter due to higher volume partially offset by discrete inventory adjustments. Moving to slide 10.

Speaker #2: Our adjusted operating margin was 2.3%, which excluded restructuring costs of $697,000 and $110,000 of purchase accounting adjustments. Selling, general, and administrative expense for the fourth quarter was $27.9 million, or 34.7% of revenues, which was modestly higher than Q3, reflecting hiring for the new organizational structure and higher travel and commission costs.

Speaker #2: Unfavorable foreign exchange rates impacted adjusted operating margin in the fourth quarter by $600,000 and for the full year of 2025 by 4.7 million dollars.

Ziv Shoshani: Unfavorable foreign exchange rates impacted adjusted operating margin in Q4 by $600,000 and for the full year of 2025 by $4.7 million. Our net loss was $1.9 million or $0.14 per diluted share. Adjusted diluted EPS was $0.07. The GAAP tax rate for the full year was 39%. For 2026, we are assuming an operational tax rate of approximately 26%. Moving to slide 11. Adjusted EBITDA was $6 million or 7.5% of revenue compared to $9.2 million or 11.5% of revenue in Q3. CapEx in Q4 was $3.5 million and was $8.5 million for the full year. For 2026, we are forecasting $14 million to $16 million for capital expenditures. We generated adjusted free cash flow of $1.3 million for Q4, which compared to $7.4 million in Q3. As of the end of Q4, our cash position was $87.4 million and our long-term debt was $20.6 million.

Bill Clancy: Unfavorable foreign exchange rates impacted adjusted operating margin in Q4 by $600,000 and for the full year of 2025 by $4.7 million. Our net loss was $1.9 million or $0.14 per diluted share. Adjusted diluted EPS was $0.07. The GAAP tax rate for the full year was 39%. For 2026, we are assuming an operational tax rate of approximately 26%. Moving to slide 11. Adjusted EBITDA was $6 million or 7.5% of revenue compared to $9.2 million or 11.5% of revenue in Q3. CapEx in Q4 was $3.5 million and was $8.5 million for the full year. For 2026, we are forecasting $14 million to $16 million for capital expenditures. We generated adjusted free cash flow of $1.3 million for Q4, which compared to $7.4 million in Q3. As of the end of Q4, our cash position was $87.4 million and our long-term debt was $20.6 million.

Speaker #2: Our net loss was $1.9 million, or $0.14 per diluted share. Adjusted diluted EPS was $0.07. The GAAP tax rate for the full year was 39%.

Speaker #2: For 2026, we are assuming an operational tax rate of approximately 26%. Moving to slide 11. Adjusted EBITDA was $6 million, or 7.5% of revenue, compared to $9.2 million, or 11.5% of revenue, in the third quarter.

Speaker #2: CAPEX in the fourth quarter was $3.5 million and was $8.5 million for the full year. For 2026, we are forecasting $14 million to $16 million for capital expenditures.

Speaker #2: We generated adjusted free cash flow of $1.3 million for the fourth quarter, which compares to $7.4 million in the third quarter. As of the end of the fourth quarter, our cash position was $87.4 million and our long-term debt was $20.6 million.

Speaker #2: The resulting net cash position of $66.8 million and the unused portion of our credit facility provide ample liquidity to support our business requirements and to fund M&A.

Ziv Shoshani: The resulting net cash position of $66.8 million and the unused portion of our credit facility provides ample liquidity to support our business requirements and to fund the M&A. Regarding the outlook, for Q1 2026, we expect net revenues to be in the range of $74 million to $80 million, assuming constant Q4/Q5 exchange rates. In summary, quarterly bookings exceeded $80 million for the first time since Q2 2023 and resulted in a book-to-bill of 1.01. We exceeded our 2025 goal for orders from business development initiatives and are targeting a 20% increase in 2026. We entered into a new phase with key organizational and strategic changes focused on accelerating growth and cost efficiencies. With that, let's open the lines for questions. Thank you. Thank you. To ask a question, please press * followed by 1 on your telephone keypad now.

Bill Clancy: The resulting net cash position of $66.8 million and the unused portion of our credit facility provides ample liquidity to support our business requirements and to fund the M&A. Regarding the outlook, for Q1 2026, we expect net revenues to be in the range of $74 million to $80 million, assuming constant Q4/Q5 exchange rates. In summary, quarterly bookings exceeded $80 million for the first time since Q2 2023 and resulted in a book-to-bill of 1.01. We exceeded our 2025 goal for orders from business development initiatives and are targeting a 20% increase in 2026. We entered into a new phase with key organizational and strategic changes focused on accelerating growth and cost efficiencies. With that, let's open the lines for questions. Thank you.

Speaker #2: Regarding the outlook, for the first quarter of 2026, we expect net revenues to be in the range of $74 million to $80 million, assuming constant fourth fiscal quarter 2025 exchange rates.

Speaker #2: In summary, quarterly bookings exceeded $80 million for the first time since the second quarter of 2023 and resulted in a book-to-bill of 1.01.

Speaker #2: We exceeded our 2025 goal for orders from business development initiatives, and we are targeting a 20% increase in 2026. And we entered into a new phase with key organizational and strategic changes focused on accelerating growth and cost efficiencies.

Speaker #2: With that, let's open the lines for questions. Thank you.

Operator: Thank you. To ask a question, please press * followed by 1 on your telephone keypad now. If you change your mind, please press * followed by 2. When preparing to ask your question, please ensure your device is unmuted locally. Our first question comes from John Fernandez from Sidoti & Company. Your line is now open, John. Please go ahead.

Speaker #3: Thank you. To ask a question, please press star followed by 1 on your telephone keypad now. If you change your mind, please press star followed by 2.

Ziv Shoshani: If you change your mind, please press * followed by 2. When preparing to ask your question, please ensure your device is unmuted locally. Our first question comes from John Fernandez from Sidoti & Company. Your line is now open, John. Please go ahead. Hi everybody, and thanks for taking the questions. I actually want to start with the revenue guide. I'm curious about, to achieve the mid to high single digit guide that you're putting out there, how biased is that towards the sensors segment given the recent bookings profile? Well, John, good morning. First, we are fairly optimistic regarding the recovery in the marketplace. We have seen many, many signs. It started the initial sign was in the sensors, but we're also quite positive about also positive signs regarding weighing solutions. Also for measurement systems, some of the segments are we started to see early signs of recovery.

Speaker #3: When preparing to ask your question, please ensure your device is unmuted locally. Our first question comes from John Fernandes from Sodati & Co. Your line is now open, John.

Speaker #3: Please go ahead.

John Franzreb: Hi everybody, and thanks for taking the questions. I actually want to start with the revenue guide. I'm curious about, to achieve the mid to high single digit guide that you're putting out there, how biased is that towards the sensors segment given the recent bookings profile?

Speaker #4: Hi everybody and thanks for taking the questions. I actually want to start with the revenue guys. I'm curious about at the to achieve the high mid to high single digit guide that you're putting out there, how biased is that towards the sensor segment given the recent bookings

Speaker #4: profile? Well,

Ziv Shoshani: Well, John, good morning. First, we are fairly optimistic regarding the recovery in the marketplace. We have seen many, many signs. It started the initial sign was in the sensors, but we're also quite positive about also positive signs regarding weighing solutions. Also for measurement systems, some of the segments are we started to see early signs of recovery.

Speaker #5: John, good morning. First, we are fairly optimistic regarding the recovery in the marketplace. We have seen many, many signs. It started the initial sign was in the sensors, but we also quite positive about also positive signs regarding weighing solutions.

Speaker #5: Also, for measurement systems, some of the segments are where we started to see early signs of recovery. Still, the steel market is fairly soft, predominantly in China, but overall, we are optimistic regarding the business environment.

Ziv Shoshani: Still, the steel market is fairly soft, predominantly in China, but overall we are optimistic regarding the business environment. In addition to that, we are also expecting additional book-to-bill above 1 in the Q2. Now, regarding execution and revenues, this is correct that while we are working on ramping up production for sensors, we would expect to see higher revenues mainly in sensors as of the Q2, but you are correct that in order to achieve the mid to high single digit, the second half of this year we are going to we are looking to achieve higher revenues than the first half since we are in a ramp-up mode currently. Got it. And regarding the gross margin impact, my back-of-the-envelope number was that it was roughly would have been 41% in the Q4.

Speaker #5: In addition to that, we are also expecting additional book to bill above 1 in the second quarter. Now, regarding execution and revenues, this is correct that while we are working on ramping up production for sensors, we would expect to see higher revenues mainly in sensors, as of the second quarter, but from a but you are correct in order to achieve the mid to high single digit, the second half of this year we are going to we are looking to achieve higher revenues than the first half.

Speaker #5: Since we are in a ramp-up mode

John Franzreb: Got it. And regarding the gross margin impact, my back-of-the-envelope number was that it was roughly would have been 41% in the Q4. Is that right to assume some of those, we'll call it, one-time items, if you will? And I'm curious if any of them lingered or are lingering into Q1 2026.

Speaker #4: Got it. And regarding the gross margin impact, my back of the envelope number was that was roughly would have been 41% in the quarter.

Speaker #4: Is that right to assume X some of those we'll call it one-time items, if you will, and I'm curious if any of them lingered or are lingering into the first quarter 2026?

Speaker #4: Is that right to assume, X, some of those—we'll call it one-time items, if you will—and I'm curious if any of them lingered or are lingering into the first quarter 2026?

Ziv Shoshani: Is that right to assume some of those, we'll call it, one-time items, if you will? And I'm curious if any of them lingered or are lingering into Q1 2026. So we have identified kind of an unusual effect in Q4 at the level of $3 million, as I indicated, which were related to year-end closing and also to, I would say, launching new ERP systems at one of our sites. Those so-called. Ziv, I lost you. Please, it seems we have lost connection with Ziv. The call will commence shortly once we regain. Can you hear me? I can hear you now, sir. Can you hear me, John? Sorry. Somehow, I heard you. Okay. What I was saying is that at least the $3 million we do not expect to see in the next Q4. Therefore, we should see an improved gross margin moving into Q1. Got it.

Ziv Shoshani: So we have identified kind of an unusual effect in Q4 at the level of $3 million, as I indicated, which were related to year-end closing and also to, I would say, launching new ERP systems at one of our sites. Those so-called.

Speaker #5: So we have identified kind of unusual effects in the fourth quarter. At the level of $3 million, as I indicated, which were related to year-end closing and also to, I would say, launching new RP ERP systems at one of our sites.

Speaker #5: Those one those so-called

John Franzreb: Ziv, I lost you.

Speaker #4: Ziva, I lost you.

Operator: Please, it seems we have lost connection with Ziv. The call will commence shortly once we regain.

Speaker #3: Apologies. It seems we have lost connection with Ziv. The call will commence shortly once we

Speaker #3: regain. Okay.

Ziv Shoshani: Can you hear me?

Speaker #5: Can you hear me?

Speaker #4: I can hear you now,

John Franzreb: I can hear you now, sir.

Speaker #4: sir. Can you hear me, John?

Ziv Shoshani: Can you hear me, John? Sorry. Somehow, I heard you. Okay. What I was saying is that at least the $3 million we do not expect to see in the next Q4. Therefore, we should see an improved gross margin moving into Q1.

Speaker #5: Sorry. For somehow, I heard you. Okay. What I was saying is that at least the $3 million we do not expect to see in the next quarter.

Speaker #5: Therefore, we should see an improved gross margin moving into Q1.

John Franzreb: Got it. Regarding these structuring actions, then I'll get back into Q. You expect $6 million. Is that $6 million expected to be realized in 2026, or is that an exit velocity coming out of the year?

Speaker #4: Got it. Actions, then I'll get back into Q. You expect $6 million; is that $6 million expected to be realized in 2026, or is that an exit velocity coming out of the year?

Ziv Shoshani: Regarding these structuring actions, then I'll get back into Q. You expect $6 million. Is that $6 million expected to be realized in 2026, or is that an exit velocity coming out of the year? The $6 million of cost reduction are expected to be realized in 2026 and are expected to be in the 2026 P&L. So all the cost reduction initiatives in regards to efficiency, productivity improvement, streamlining of manufacturing locations, and all other related activities would result in a $6 million cost savings, which we expect to see in 2026. Thanks, Ziv. I'll get back into Q. Thank you, sir. Thank you. Thank you. Our next question comes from Josh Nichols from B. Riley. Your line is now open. Please go ahead. Yeah, thanks for taking my question.

Ziv Shoshani: The $6 million of cost reduction are expected to be realized in 2026 and are expected to be in the 2026 P&L. So all the cost reduction initiatives in regards to efficiency, productivity improvement, streamlining of manufacturing locations, and all other related activities would result in a $6 million cost savings, which we expect to see in 2026.

Speaker #5: The $6 million of cost reduction are expected to be realized in 2026 and are expected to be in the 2026 P&L. So all the cost reduction initiatives in regards to efficiency, productivity improvement, streamlining of manufacturing locations, and all other related activities would result in a $6 million cost savings, which we expect to see in 2026.

John Franzreb: Thanks, Ziv. I'll get back into Q. Thank you, sir.

Speaker #4: Thanks, Ziva. I'll get back into Q. Thank you,

Speaker #4: sir. Thanks, sir.

Ziv Shoshani: Thank you.

Speaker #5: Thank you.

Operator: Thank you. Our next question comes from Josh Nichols from B. Riley. Your line is now open. Please go ahead.

Speaker #3: Thank you. Our next question comes from Josh Nichols from Bee Riley. Your line is now open. Please go ahead.

Josh Nichols: Yeah, thanks for taking my question. I want to dive in some pretty significant organizational strategic changes here that you touched on during the call. What does this mean, do you think? I guess, one, betting on the company's growth prospects overall. And then, two, it's been some time, but I think you used to put out some longer-term financial targets about operating leverage and what the company could achieve. With these new changes, could you touch on those two aspects and if you plan to put any updates out on those potentially?

Speaker #5: Yeah. Thanks for taking my question. I want to dive in some pretty significant organizational strategic changes here that you touched on during the call.

Ziv Shoshani: I want to dive in some pretty significant organizational strategic changes here that you touched on during the call. What does this mean, do you think? I guess, one, betting on the company's growth prospects overall. And then, two, it's been some time, but I think you used to put out some longer-term financial targets about operating leverage and what the company could achieve. With these new changes, could you touch on those two aspects and if you plan to put any updates out on those potentially? Yes, absolutely. If you can recall, Josh, in November, we announced an organizational changes in the company. The organizational changes was around two main new organizations, was the COO and the CBPO. The purpose was to develop a new organization, which is cross-divisional organization, which would allow us to standardize, unify, and improve, and apply best practice processes.

Speaker #5: What does this mean, you think, I guess, one betting on the company's growth prospects overall, and then two, it's been some time, but I think you used to put out some longer-term financial targets about operating leverage and what the company could achieve.

Speaker #5: With these new changes, could you touch on those two aspects and if you plan to put any updates out on those potentially? Yes. Absolutely.

Ziv Shoshani: Yes, absolutely. If you can recall, Josh, in November, we announced an organizational changes in the company. The organizational changes was around two main new organizations, was the COO and the CBPO. The purpose was to develop a new organization, which is cross-divisional organization, which would allow us to standardize, unify, and improve, and apply best practice processes.

Speaker #5: If you can recall, Josh, in November, we announced an organizational changes in the company, the organizational changes was around two main new organizations. It was the COO and the CBPO.

Speaker #5: The purpose was to develop a new organization, which is a cross-divisional organization, that would allow us to standardize, unify, and improve, and apply best practice processes.

Speaker #5: So to that extent, we are in the process of implementing the changes which we are going to see. Starting to take into effect in the second quarter, the changes regarding the COO organization would be mainly around procurement, general I would say, centralized procurement would be around supply chain, supply chain and also I would say a much better organizational focus or operational focus around cost reduction execution and around supporting our On the other hand, the business organization.

Ziv Shoshani: So to that extent, we are in the process of implementing the changes which we are going to see starting to take into effect in the Q2. The changes regarding the COO organization would be mainly around procurement generally, I would say, centralized procurement would be around supply chain, and also, I would say, a much better organizational focus or operational focus around cost reduction execution and around supporting our business organization. On the other hand, the CBPO, the purpose is to create one centralized sales operation function, centralized marketing, and centralized business development in order to optimize our opportunities. Now, in addition to that, I would like to say that we are launching a data project, an IT, I would say, data project, which would allow everyone to operate on one system, which we are going to introduce more advanced BI and AI tools.

Speaker #5: CBPO, the purpose is to create one centralized sales operation function centralized marketing and centralized business development in order to optimize our opportunities. Now, in addition to that, I would like to say that we are launching a data project, an IT, I would say, data project, which would allow us which would allow everyone to operate on one system, which we are going to introduce more advanced BI and AI tools.

Speaker #5: So all in all, the whole organization focus is on execution from the cost side and to support the business on the other side, support the business in terms of better lead time, I would say, better lead time, shorter better quality, business development, or I would say to enhance business development initiatives, also from a cross-divisional and centralized marketing.

Ziv Shoshani: So all in all, the whole organization focus is on execution from the cost side and to support the business on the other side, support the business in terms of better lead time, I would say, better lead time, shorter, better quality business development, or I would say to enhance business development initiatives also from a cross-divisional and centralized marketing. We see already that the new organization from a cost standpoint, as we are building the foundation or as we are moving ahead with the foundation, we are expecting, as I indicated, the $6 million. We have even a bigger target for the next three years to achieve a certain cost reduction, while also we have set internal goals for business development, for example, at 20% year-over-year, moving to a $45 million business development target for 2026.

Speaker #5: We see already that the new organization, from a cost standpoint, as we are building the foundation or as we are moving ahead with the foundation, we are expecting, as I indicated, the $6 million.

Speaker #5: We have an even bigger target for the next three years, to achieve a certain cost reduction. While also, we have set internal goals for business development, for example, a 20% year-over-year increase, moving to a $45 million business development target for 2026.

Speaker #5: As you indicated, now we are in the process of changing the model in order to fit the new cost and the new financials to set a new financial model.

Ziv Shoshani: As you indicated, now we are in the process of changing the model in order to feed the new cost and the new financial to set a new financial model. So I would say that in the coming weeks, we are going to introduce a new model which will be based on the new organization. Yeah, good to hear that that's going to be updated. And then good also, new third humanoid development customer here that you're getting some initial orders from. I know you provided some very high-level detail about using humanoids at home, but also for manufacturing. Anything you could tell us about the size of the customer relative to the other two and potential timelines? Are they looking to scale up to larger-scale production in 2026, or are they still in the earlier stages of development overall?

Speaker #5: So I would say that in the coming weeks, we are going to introduce a new model which will be based on the new organization.

Josh Nichols: Yeah, good to hear that that's going to be updated. And then good also, new third humanoid development customer here that you're getting some initial orders from. I know you provided some very high-level detail about using humanoids at home, but also for manufacturing. Anything you could tell us about the size of the customer relative to the other two and potential timelines? Are they looking to scale up to larger-scale production in 2026, or are they still in the earlier stages of development overall?

Speaker #5: Yeah. Good to hear that that's going to be updated. also new And then good third humanoid development customer here that you're getting some initial orders from.

Speaker #5: I know you provided some very high-level detail about using humanoids at home but also for manufacturing. Is there anything you could tell us about the size of the customer relative to the other timelines?

Speaker #5: Are they looking to scale up to larger scale production in '26, or are they still in the earlier stages of development

Speaker #5: overall? The only

Ziv Shoshani: The only thing I could say, since we are under very strict NDA, that this is a smaller customer than the other two. They are still in the design configuration stage. And we will and we are continuing the journey of engineering discussions with this customer in order to provide them with the best solution. I think that all in all, in the humanoid ecosystem, the ramp-up really depends on the customer commercialization and adoption of the humanoid-related application. We don't know when they are expecting to start pre-production or even ramping up, but I think that the important piece is that our infrastructure and supply chain are prepared to support them once they make the decision. Thanks. And then last question for me. This has been a big topic. You see a lot of humanoids, CES, and other events overall.

Speaker #4: The thing I could say, since we are under a very strict NDA, is that this is a smaller customer than the other two. They are still in the design configuration stage.

Speaker #4: And we will, and we are, we are continuing the journey. Engineering discussions we discussed in order to provide them with the best solution. I think that, all in all, in the humanoid ecosystem, the ramp-up really depends on the customer commercialization and adoption of the humanoid-related application.

Speaker #4: We don't know when they are expecting to start pre-production or even ramping up, but I think that the important piece is that our infrastructure and supply chain are prepared to support them once they make the

Speaker #4: decision. Thanks.

Josh Nichols: Thanks. And then last question for me. This has been a big topic. You see a lot of humanoids, CES, and other events overall. Is it fair to say that you're in discussions with multiple other humanoid developers also, and potentially we could see some additional customers announced throughout 2026? Or what is your expectation on that front on building out your humanoid customer base?

Speaker #5: And that last question for me, this has been a big topic. You see a lot of humanoids at CES and other events overall. Is it fair to say that you're in discussions with multiple other humanoid developers also and potentially we could see some additional customers announced throughout 2026?

Ziv Shoshani: Is it fair to say that you're in discussions with multiple other humanoid developers also, and potentially we could see some additional customers announced throughout 2026? Or what is your expectation on that front on building out your humanoid customer base? We do have a list of many humanoid manufacturers, which we started a dialogue with them. At this point, we don't report that in our earnings call since they have not requested prototype orders. So the fact that there is a whole list of humanoid manufacturers in different parts of the world, we hope that we will be able to report that we would be able to report that we are going to ship or to start a more serious dialogue and to ship prototypes to others.

Speaker #5: Or what is your expectation on that front, on building out your humanoid

Speaker #5: customer base? We

Ziv Shoshani: We do have a list of many humanoid manufacturers, which we started a dialogue with them. At this point, we don't report that in our earnings call since they have not requested prototype orders. So the fact that there is a whole list of humanoid manufacturers in different parts of the world, we hope that we will be able to report that we would be able to report that we are going to ship or to start a more serious dialogue and to ship prototypes to others.

Speaker #4: We do have a list of many humanoid manufacturers. We started a dialogue with them. At this point, we don't report that in our earnings call since they have not requested prototype orders.

Speaker #4: So the fact that there is a whole list of humanoid manufacturers in different parts of the world, we hope that we will be able to report that we would be able to report that we are going to ship or to start a more serious dialogue and to ship prototypes to others.

Speaker #4: Yes, but no doubt they are on our screen and we are looking at we are looking at many more humanoid manufacturers.

Ziv Shoshani: Yes, but no doubt they are on our screen, and we are looking at many more humanoid manufacturers. Yes. Appreciate it. Thank you. Thank you. Thank you. Our next question comes from Jason Smith from Lake Street Capital Markets. Your line is now open. Please go ahead. Hey, guys. Thanks for taking my questions. Just following up on that line of questioning, beyond humanoid robots, where it seems like you guys are seeing some really nice momentum, can you talk about which verticals in your new business initiatives are outperforming your original expectations? So as you know, in the past, we were looking at the ultra-high-temperature ceramics, which is one of our products. We were also looking at some designs of precision resistors in the semiconductors.

Ziv Shoshani: Yes, but no doubt they are on our screen, and we are looking at many more humanoid manufacturers.

Josh Nichols: Yes. Appreciate it. Thank you.

Speaker #4: Yes. Appreciate it.

Speaker #5: Thank

Speaker #5: you. Thank

Ziv Shoshani: Thank you.

Operator: Thank you. Our next question comes from Jason Smith from Lake Street Capital Markets. Your line is now open. Please go ahead.

Speaker #6: Thank you. Our next question comes from Jason Smith from Lake Street Capital Markets. Your line is now open. Please go ahead.

Speaker #6: ahead. Hey, guys.

Jason Smith: Hey, guys. Thanks for taking my questions. Just following up on that line of questioning, beyond humanoid robots, where it seems like you guys are seeing some really nice momentum, can you talk about which verticals in your new business initiatives are outperforming your original expectations?

Speaker #7: Thanks for taking my questions. Just following up on that line of questioning, beyond humanoid robots where it seems like you guys are seeing some really nice momentum, can you talk about which verticals in your new business initiatives outperforming your original

Speaker #7: expectations? So as you

Ziv Shoshani: So as you know, in the past, we were looking at the ultra-high-temperature ceramics, which is one of our products. We were also looking at some designs of precision resistors in the semiconductors.

Speaker #4: know, in the past, we were looking at the ultra-high temperature ceramics, which is one of our products. We are also we were also looking at some designs of precision resistors in the semiconductors.

Speaker #4: And very recently, we have also started a dialogue with what we call physical AI applications, which are, let's call it, those types of autonomous logistics that are based on AI.

Ziv Shoshani: And very recently, we have also started a dialogue with what we call Physical AI applications, which are, let's call it, those type of autonomous logistics, which are based on AI, which are based on AI platforms, which I would say some large manufacturers are looking at that. I would say this is kind of an adjacent application to the humanoid, but also based on AI. So we started a dialogue also with one or two customers regarding autonomous logistics. Gotcha. And then following up on your comments on kind of additional hiring within the Sensors segment, is this to mainly just build out that infrastructure more, or are you seeing demand pull from specific verticals or end markets that are necessarily driving this?

Speaker #4: Which are based on AI platforms, which I would say some large manufacturers are looking at that. That's, I would say, this is kind of an adjacent application to the humanoid.

Speaker #4: But also based on AI. So we started a dialogue also with one or two customers. Regarding autonomous logistics.

Jason Smith: Gotcha. And then following up on your comments on kind of additional hiring within the Sensors segment, is this to mainly just build out that infrastructure more, or are you seeing demand pull from specific verticals or end markets that are necessarily driving this?

Speaker #7: Gotcha. And then, following up on your comments on additional hiring within the sensor segment, is this mainly just to build out that infrastructure more?

Speaker #7: Or are you seeing demand pull from specific verticals or end markets that are certainly driving?

Speaker #7: Or are you seeing demand pull from specific verticals or end markets that are certainly driving this? So,

Ziv Shoshani: So, hiring the people at this point in time, in the sensor business, mainly, I would say the end sectors that are driving the demand are test and measurement, avionics, military, and space, and some general industrial applications. Those are the end markets that we did see some signs of recovery. We have seen much stronger order intake, and we are hiring direct employees and ramping up production. We don't believe that this is a short-term recovery. We believe that we should expect to see also this recovery in the coming months. Perfect. Really helpful. Thanks a lot, guys. Thank you. As a reminder to ask a question, please press star followed by one on your telephone keypad now. We will now pause for any questions to be registered. As a last reminder to ask a question, please press star followed by one on your telephone keypad now.

Speaker #4: hiring the people at this point in time, the sensor business main and I would say the end sectors, that are driving the demand. Our test and measurement, avionic military and space, and some general industrial applications.

Speaker #4: Those are the end markets that we did see some signs of recovery. We have seen much stronger order intake. And we are hiring direct employees and ramping up production.

Speaker #4: We don't believe that this is a short-term recovery. We believe that we should expect to see this recovery in the coming months as well.

Jason Smith: Perfect. Really helpful. Thanks a lot, guys.

Speaker #7: Perfect. Really helpful. Thanks a lot, guys.

Operator: Thank you. As a reminder to ask a question, please press star followed by one on your telephone keypad now. We will now pause for any questions to be registered. As a last reminder to ask a question, please press star followed by one on your telephone keypad now. We currently have no further questions, and I would like to hand back to Steve Cantor for any closing remarks.

Speaker #6: Thank you. As a reminder, to ask a question, please press star followed by 1 on your telephone keypad now. We will now pause for any questions to be registered.

Speaker #6: As a last reminder, to ask a question, please press star followed by one on your telephone keypad now. We currently have no further questions, and I would like to hand back to Steve Cantor for any closing remarks.

Ziv Shoshani: We currently have no further questions, and I would like to hand back to Steve Cantor for any closing remarks. Great. Thank you, Claire. Before closing, I do want to note that we will be at the Roth Investor Conference in March. And of course, we look forward to updating you next quarter. Thank you all for joining the call today, and have a great day. Thank you. This now concludes today's call. Thank you all for joining. You may now disconnect your lines.

Steve Cantor: Great. Thank you, Claire. Before closing, I do want to note that we will be at the Roth Investor Conference in March. And of course, we look forward to updating you next quarter. Thank you all for joining the call today, and have a great day.

Speaker #7: Great, thank you, Claire. Before closing, I do want to note that we will be at the Roth Investor Conference in March. And, of course, we look forward to updating you next quarter.

Speaker #7: Thank you all for joining the call today and have a great day.

Operator: Thank you. This now concludes today's call. Thank you all for joining. You may now disconnect your lines.

Q4 2025 Vishay Precision Group Inc Earnings Call

Request a DemoDemo

VPG

Vishay Precision

Earnings