Q3 2026 Earnings

Net Revenue — United States

$31.6M

Asset information provided to the CODM is consistent with that reported on the condensed consolidated balance sheets with particular emphasis on the Company’s available liquidity, including its cash and cash equivalents, marketable securities and inventory, reduced by current liabilities. Net revenue is attributed to geographic areas based on the final destination of products shipped. As of June 30, 2026 and September 30, 2025, total long-term assets of $16,076,000 and $16,055,000, respectively, were attributed to the United States. Net revenue by geographic location for the quarters and nine months ended June 30, 2026 and June 30, 2025 is as follows: Quarters Ended June 30, Nine Months Ended June 30, 2026 2025 2026 2025 United States 31,557,000 21,499,000 85,157,000 85,306,000 Canada 1,802,000 5,478,000 4,940,000 11,173,000 All other foreign countries 446,000 9,000 1,083,000 127,000 Net revenue 33,805,000 26,986,000 91,180,000 96,606,000

Net Working Capital

$211.3M

The Company’s net working capital (defined as current assets less current liabilities) was $211.3 million at June 30, 2026 and $197.7 million at September 30, 2025.

Gross Profit Margin

27.9%

As a percent of net revenue, gross profit margins increased 140 basis points to 27.9% in the quarter ended June 30, 2026, compared to 26.5% in the quarter ended June 30, 2025.

Operating Margin

17.2%

Operating income increased 85.0%, or $2,665,000, from $3,137,000 for the quarter ended June 30, 2025 to $5,802,000 for the quarter ended June 30, 2026, primarily due to higher gross profits and lower SG&A expenses. Operating margin was 17.2% for the quarter ended June 30, 2026 compared with 11.6% for the quarter ended June 30, 2025.

Equipment Sales Recognized Over Time

$19.4M

(Topic 606). The following table disaggregates the Company’s net revenue by major source for the quarters and nine months ended June 30, 2026 and 2025: Quarter Ended June 30, Nine Months Ended June 30, 2026 2025 2026 2025 Equipment sales recognized over time 19,436,000 $ 10,420,000 39,322,000 $ 41,367,000 Equipment sales recognized at a point in time 7,771,000 8,583,000 26,607,000 28,292,000 Parts and component sales 5,184,000 6,109,000 20,333,000 21,134,000 Freight revenue 1,260,000 1,652,000 4,197,000 4,986,000 Other 154,000 222,000 721,000 827,000 Net revenue 33,805,000 $ 26,986,000 91,180,000 $ 96,606,000 Revenues from contracts with customers for the design, manufacture and sale of custom equipment are recognized over time when the performance obligation is satisfied by transferring control of the equipment. Control of the equipment transfers over time, as the equipment is unique to the specific contract and thus does not create an asset with an alternative use to the Company. Revenues and costs are recognized in proportion to actual labor costs incurred, as compared with total estimated labor costs expected to be incurred, during the entire contract. All incremental costs related to obtaining a contract are expensed as incurred, as the amortization period is less than one year. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined.

Equipment Sales Recognized at a Point in Time

$7.8M

(Topic 606). The following table disaggregates the Company’s net revenue by major source for the quarters and nine months ended June 30, 2026 and 2025: Quarter Ended June 30, Nine Months Ended June 30, 2026 2025 2026 2025 Equipment sales recognized over time 19,436,000 $ 10,420,000 39,322,000 $ 41,367,000 Equipment sales recognized at a point in time 7,771,000 8,583,000 26,607,000 28,292,000 Parts and component sales 5,184,000 6,109,000 20,333,000 21,134,000 Freight revenue 1,260,000 1,652,000 4,197,000 4,986,000 Other 154,000 222,000 721,000 827,000 Net revenue 33,805,000 $ 26,986,000 91,180,000 $ 96,606,000 Revenues from contracts with customers for the design, manufacture and sale of custom equipment are recognized over time when the performance obligation is satisfied by transferring control of the equipment. Control of the equipment transfers over time, as the equipment is unique to the specific contract and thus does not create an asset with an alternative use to the Company. Revenues and costs are recognized in proportion to actual labor costs incurred, as compared with total estimated labor costs expected to be incurred, during the entire contract. All incremental costs related to obtaining a contract are expensed as incurred, as the amortization period is less than one year. Changes to total estimated contract costs or losses, if any, are recognized in the period in which they are determined.