Shares of Technoprobe SpA (BIT:TPRO) surged by over 36% on Friday after the Milan-listed probe card manufacturer released first-quarter 2026 results that company executives described as an all-time record. The firm also accelerated revenue and profitability objectives that had been slated for 2027, bringing those targets forward into the current year.
For the three months ended March 31, 2026, consolidated revenues reached €187 million, up 19% from the same period a year earlier. Consolidated EBITDA rose 44.2% to €69.2 million, producing an EBITDA margin of 37% - an improvement of 650 basis points compared with the year-ago quarter.
Chief Executive Stefano Felici attributed the outlook to an increase in production capacity and a continued rise in volumes, which the company said are primarily driven by demand related to artificial intelligence. "The increase in production capacity, combined with the continued expansion of volumes primarily driven by artificial intelligence-related demand, leads us to expect strong sequential growth in the second quarter, both in terms of revenues and profitability," Felici said.
For Q2 2026, Technoprobe guided consolidated revenues of €266 million, plus or minus 3%. The company forecast a gross margin of 55%, plus or minus 200 basis points, and an EBITDA margin of 45%, plus or minus 200 basis points.
Notably, revenue and EBITDA margin targets that had been established for 2027 - revenues of €850 million to €900 million and an EBITDA margin between 38% and 40% - were moved into the 2026 financial year. The updated 2026 objectives are revenues of €950 million to €1.05 billion and an EBITDA margin of 44% to 46%.
On the balance sheet, Technoprobe reported a consolidated net financial position of positive €660.5 million as of March 31, 2026. Cash generated from operating activities during the quarter amounted to €2 million. Foreign exchange adjustments were €8 million, while capital investments totaled €34 million for the period.
The company also noted that its automotive and industrial end markets were showing signs of stabilisation. Management linked this observation to what it described as the potential conclusion of an inventory correction phase in those segments.
Contextual takeaways
- Technoprobe posted an all-time record quarter with double-digit revenue growth and a large margin expansion driven by EBITDA improvement.
- Management has brought forward 2027 financial targets into 2026, raising both revenue and EBITDA margin expectations materially.
- The company pointed to AI-related demand as a primary driver of volume expansion while noting stabilisation signs in automotive and industrial segments amid inventory correction dynamics.
Financial detail snapshot
- Q1 2026 consolidated revenues: €187 million (up 19% year-on-year)
- Q1 2026 consolidated EBITDA: €69.2 million (up 44.2% year-on-year); EBITDA margin: 37% (+650 bps)
- Q2 2026 guidance: revenues €266 million +/-3%; gross margin 55% +/-200 bps; EBITDA margin 45% +/-200 bps
- Revised 2026 targets (previously for 2027): revenues €950 million - €1.05 billion; EBITDA margin 44% - 46%
- Net financial position as of March 31, 2026: positive €660.5 million
- Cash from operations: €2 million; FX adjustments: €8 million; capital expenditures: €34 million
Note on sector exposure
Technoprobe's results and guidance are closely tied to semiconductor testing demand, with the company highlighting AI-related volumes as a significant growth driver. The firm also reported early signs of stabilisation in automotive and industrial segments, areas that had been affected by inventory corrections.