---
schema_version: "secwatch.filing_event.v1"
accession: "0001437749-24-007466"
form_type: "8-K"
ticker: "INTT"
cik: "0001036262"
company_name: "INTEST CORP"
filed_at: "2024-03-12T23:59:59+00:00"
generated_at: "2026-06-04T22:45:12.968514+00:00"
event_type: "other_material"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# inTEST restates Q3 2023 financials, acquires Alfamation for ~€20M

## Summary
- Q3 2023 revenue overstated by ~$1.7M; net income overstated by ~$700K; EPS revised from $0.24 to $0.19.
- Acquired Alfamation S.p.A. for ~€20M (€18M cash + 187,432 shares); Alfamation annual revenue ~$25M, backlog ~$15M.
- FY2024 revenue guidance raised to $145-155M; acquisition expected accretive to non-GAAP EPS in 2025, dilutive to GAAP EPS in 2024.
- Company expects to report a material weakness in internal control over financial reporting due to revenue recognition errors.

## SEC filing metadata
- accession: 0001437749-24-007466
- form_type: 8-K
- ticker: INTT
- cik: 0001036262
- company_name: INTEST CORP
- filed_at: 2024-03-12T23:59:59+00:00
- event_type: other_material
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 1.01, 2.01, 3.02, 4.02, 5.02, 7.01, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/intt20240311_8k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001437749-24-007466
- JSON: https://secwatch.observer/filing/0001437749-24-007466.json
- Plain text: https://secwatch.observer/filing/0001437749-24-007466.txt

## Key facts
- Auditor Changes
  INTEST CORP reported that prior financial statements should not be relied upon.
  - Action: non reliance
  source text: should no longer be relied upon due to certain errors identified by the Company.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm
- M&A Transactions
  INTEST CORP completed an acquisition involving Mauro Arigossi and Elettra S.S. for approximately €20 million (closed 2024-03-12).
  - Action: acquisition
  - Counterparty: Mauro Arigossi and Elettra S.S.
  - Consideration: approximately €20 million
  - Closing: 2024-03-12
  source text: all of the outstanding capital shares of Alfamation. Pursuant to the Purchase Agreement, the Buyer agreed to pay to the Sellers an aggregate base purchase price of approximately €20 million comprised of: (i) approximately €18 million in cash; and (ii) 187,432 shares of common stock of the Company, par value $0.01 (the “Shares”); and an additional approximately €542
  evidence_url: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm
- Material Agreements
  INTEST CORP entered into Purchase Agreement with Mauro Arigossi and Elettra S.S. valued at approximately €20 million (effective 2024-03-12).
  - Action: entry
  - Agreement: asset purchase
  - Counterparty: Mauro Arigossi and Elettra S.S.
  - Value: approximately €20 million
  - Effective: 2024-03-12
  source text: On March 12, 2024 inTEST Corporation (the “Company”) entered into a stock purchase agreement (the “Purchase Agreement”) by and among inTEST Italy, Inc., a wholly owned subsidiary of the Company (“Buyer”), Mauro Arigossi (“Arigossi”), and Elettra S.S., a company incorporated under the Laws of Italy (“Elettra”, and together with Arigossi, each a “Seller” and collectively, the “Sellers”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm
- Material Agreements
  INTEST CORP entered into Lease Agreement with Elettra Real Estate S.r.l valued at €231,312 (effective 2024-03-12).
  - Action: entry
  - Agreement: lease
  - Counterparty: Elettra Real Estate S.r.l
  - Value: €231,312
  - Effective: 2024-03-12
  source text: In connection with the Purchase Agreement, Alfamation has entered into a lease agreement (the “Lease Agreement”) by and between Alfamation and Elettra Real Estate S.r.l , a limited liability company incorporated under the Laws of Italy (the “Landlord”).
  evidence_url: https://www.sec.gov/Archives/edgar/data/1036262/000143774924007466/0001437749-24-007466-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.