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RESTRUCTURING | 3 Months Ended
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Mar. 31, 2026
Restructuring and Related Activities [Abstract] |
RESTRUCTURING | RESTRUCTURING CEO Transition On March 31, 2026, Richard N. Grant, Jr. stepped down as President and Chief Executive Officer of InTest. In connection with Mr. Grant’s separation from the Company, and in accordance with his offer letter dated July 24, 2020, Mr. Grant is entitled to severance equal to 12 months base salary paid in accordance with the Company’s customary payroll practices, which is expressly conditioned upon his execution and non-revocation of a confidential separation agreement and general release of claims in a form acceptable to the Company. Mr. Grant has executed both the separation agreement and general release and has not revoked. As a result of this action, we incurred severance, payroll tax and payroll related, professional fees and other costs through March 31, 2026 in our Corporate & Other segment. We expect to incur an immaterial amount of additional costs related to professional fees and other costs incurred in the second quarter of 2026 related to this action. Videology Consolidation On February 25, 2025, we notified employees of our wholly-owned subsidiary, Videology Imaging Corporation, of our intention to consolidate all operations in the Netherlands into our facility located in Mansfield, Massachusetts (the “Videology Consolidation”). Videology® is included in our Process Technologies segment. This plan resulted in the closure of the Netherlands facility and the termination of certain employees at that location. The Videology Consolidation of the Netherlands operations was undertaken to increase efficiencies and lower operating costs associated with the current operation of Videology® and was substantially completed by the end of 2025, at which point we vacated the Netherlands facility. While we have substantially completed the Videology Consolidation, we expected to incur facility costs on the remaining operating lease until the earlier of lease termination or expiry of approximately $0.3 million. We have recognized restructuring expenses related to these actions as follows:
|  | Three Months Ended
(in thousands) |  | March 31, 2026 |  | March 31, 2025
CEO Transition |  |  |  |
Severance |  | $ | 428 |  |  | $ | — |
Payroll taxes and payroll related |  | 39 |  | — |
Professional fees |  | 242 |  | — |
Other |  | 13 |  | — |
Total CEO Transition restructuring charges |  | $ | 722 |  |  | $ | — |
Videology Consolidation: |  |  |  |
Severance |  | $ | — |  |  | $ | 237 |
Retention |  | — |  |  | 19 |
Payroll taxes and payroll related |  | — |  |  | 51 |
Other |  | 22 |  |  | 6 |
Total Process Technologies restructuring charges |  | $ | 22 |  |  | $ | 313 |
Total consolidated restructuring charges |  | $ | 744 |  |  | $ | 313 |
Our restructuring accrual is included as a component of accrued expenses and other current liabilities:
|  | Three Months Ended
(in thousands) |  | March 31, 2026
Beginning balance |  | $ | 198 |
Charges |  | 744 |
Cash payments |  | (314) |
Impact of foreign currency translation adjustments |  | (24) |
Ending balance |  | $ | 604 |

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- Definition The entire disclosure for restructuring and related activities. Description of restructuring activities such as exit and disposal activities, include facts and circumstances leading to the plan, the expected plan completion date, the major types of costs associated with the plan activities, total expected costs, the accrual balance at the end of the period, and the periods over which the remaining accrual will be settled. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section S99 -Paragraph 2 -Subparagraph (SAB Topic 5.P.4.e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479823/420-10-S99-2 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -Name Accounting Standards Codification -Publisher FASB -URI https://asc.fasb.org/420/tableOfContent Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 420 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 1 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147482017/420-10-50-1 + Details
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