Tiny just bought a software business for less than one year of that business’s recurring revenue. All cash. A chip test-equipment maker, meanwhile, posted its biggest order quarter ever before the books were even closed.
inTEST Expects Record Q3 Orders of $48 Million to $50 Million
inTEST Corporation (NYSE American: INTT) said on October 5 it expects record third-quarter orders of $48 million to $50 million, up 28% to 33% year over year and led by record back-end semiconductor orders. Book-to-bill came in above 1.3x. Backlog should land at $58 million to $60 million, up roughly 28% to 32% since June 30.
Revenue is tracking at the high end of the $33 million to $35 million guidance range, more than 30% above the $26.2 million booked a year earlier. CEO Rich Rogoff tied the demand to customer capacity expansions driven in part by AI data centers, with newer high-powered chillers and test manipulators doing real work.
The stock closed up 22% on the day. Every number here is preliminary. Final Q3 results are due November 6.
Tiny Buys Oso Cloud for $1.9 Million in Cash
Tiny Ltd. (TSX: TINY; OTC: TNYZF) closed its purchase of Oso Cloud’s assets on October 1 and announced it October 6. Price: about $1.9 million from balance-sheet cash, with $1.2 million paid at closing and a $0.7 million holdback for transition services and adjustments.
Oso sells authorization software, the code companies build into their own products to control what each user can see and do. Its roughly 80 customers in security, fintech and developer software are all on subscription. Closing annualized recurring revenue was about $5.35 million, converted at a 1.42 exchange rate, which takes Tiny’s pro forma ARR to about $75.4 million from $70.0 million.
Two asterisks. The Oso figure is unaudited seller data, and Tiny itself labels the combined $75.4 million illustrative.
Recurring revenue already made up 34% of Tiny’s first-half revenue, up from 23% a year ago.
Airship AI Lands $29.0 Million in DHS Contracts
Airship AI Holdings, Inc. (Nasdaq: AISP) received $29.0 million in awards from an agency within the Department of Homeland Security, announced October 1. The contracts are firm-fixed-price, meaning Airship absorbs any cost overruns, and run six months. They cover software development, more Outpost AI edge appliances, the new Fortress AI server platform and custom hardware.
For scale, Airship reported $10.48 million in revenue for the entire first half of 2026.
Shares spiked as much as 47% intraday and closed up 19%. By October 5, they sat about 9% above the pre-news close.
The balance sheet is the catch. At June 30, liabilities of $26.4 million exceeded total assets of $17.7 million, leaving a stockholders’ deficit of $8.6 million, driven largely by about $16.2 million in warrant and earnout liabilities. Cash was $12.4 million.
INTT, TINY, AISP: Forward-Looking FAQ
No. The company’s own disclosure notes that customer contracts can include cancellation, termination or suspension provisions, and it says order levels will vary quarter to quarter with customers’ capital spending.
No. Tiny labels it illustrative because Oso’s ARR is unaudited seller data measured on a different basis and date than Tiny’s own ARR.
Not by itself. The award is recognized over a six-month performance period, while the deficit stems largely from warrant and earnout liabilities; management’s stated goal is cash-flow-positive operations by the end of 2026.
Sources
- Business Wire: InTest Expects Record Orders for Q3 2026 and Revenue at High End of Guidance Range for Q3 and Full Year 2026, October 5, 2026
- StockTitan: inTEST preliminary Q3 2026 release and market data, October 5, 2026
- TMX Newsfile: Tiny Completes Acquisition of Oso Cloud, October 6, 2026
- StockTitan: Tiny (TNYZF) Oso Cloud acquisition coverage, October 6, 2026
- GlobeNewswire / StockTitan: Airship AI Announces $29.0M of Firm Fixed Price Brand Name Only Awards from Department of Homeland Security, October 1, 2026
- GlobeNewswire / StockTitan: Airship AI Reports Second Quarter 2026 Financial Results, August 6, 2026
- StockTitan: October 2026 Stock Gainers on News (INTT and AISP session moves)
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