VPG Filings — Vishay Precision Group, Inc. - FilingSpy
VPG
Vishay Precision Group, Inc.
A maker of precision sensors and measurement equipment, VPG builds the ultra-accurate foil resistors and strain gages used in avionics, medical gear, and industrial automation, along with load cells, vehicle-weighing systems, and crash-test data capture tools. Born in 2010 as a spin-off of Vishay Intertechnology, it traces its roots to physicist and Holocaust survivor Dr. Felix Zandman, who named the company after his ancestral village in Lithuania, where family members perished during the Holocaust.
VPG posts an operating loss as SG&A costs and FX headwinds offset an 11.7% revenue increase driven by AI-related sensor demand.
returned to double-digit growth, but the company slipped to an operating loss. Revenue rose 11.7% to $83.9 million, led by a 25.8% increase in the Sensors on AI-related semiconductor demand, yet fell 2.1 points to 38.6% and swung to a loss of $0.3 million as consumed 38.1% of sales. The order book is strengthening, but costs are rising faster than revenue.
Key takeaways
rose 11.7% to $83.9 million, driven by a 25.8% increase in the Sensors on higher precision resistor sales for AI-related semiconductor, aerospace, and defense applications.
contracted 2.1 points to 38.6%, pressured by unfavorable foreign currency exchange rates, unfavorable product mix, and higher material and personnel costs, despite higher volumes across all segments.
swung to a loss of $0.3 million from a $2.7 million profit a year ago, as rose to 38.1% of sales on foreign exchange impacts, higher bonus reserves, and investments in new executive roles.
Section summaries
Management's Discussion and Analysis
Q2 FY2026 revenue rose 11.7% YoY to $83.9M driven by Sensors volume, but gross margin fell 210 bps on FX and mix; GAAP net loss was $1.7M.
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Consolidated net revenues grew 11.7% to $83.9M in Q2 FY2026, led by a 25.8% surge in the Sensors on higher precision resistor sales for AI-related semiconductor, aerospace, and defense applications.
The company recorded $0.8 million in restructuring costs, up from $0.2 million a year ago, tied to ongoing manufacturing consolidation and cost-reduction programs.
rose to $135.8 million with a of 1.14, and the Sensors book-to-bill reached 1.44, signaling continued demand strength.
Cash and equivalents fell 16.2% to $75.7 million, and was reduced by 50.4% to $15.6 million.
What changed
The Q1 FY2026 flag to watch Sensors and is resolved: revenue growth accelerated to 25.8% from 23.1% in Q1, but gross margin for the segment was not disclosed separately this quarter.
The Q1 FY2026 flag to watch Weighing Solutions after the 260-basis-point drop to 34.2% is unresolved: the 's Q2 margin was not reported, though consolidated gross margin fell further, suggesting pressure continued.
The Q1 FY2026 flag to watch is resolved: it remained negative at $0.3 million for the six-month period, partly due to higher of $5.0 million.
The company resumed reporting and after a four-quarter gap, with backlog rising to $135.8 million and a consolidated book-to-bill of 1.14.
What to watch
Q3 FY2026 Sensors growth rate to see if the 25.8% pace, driven by AI-related demand, is sustained or moderates.
Q3 FY2026 consolidated to see if the 2.1-point contraction on FX and mix pressures eases as volumes build.
Q3 FY2026 against the negative $0.3 million six-month print and the declining annual trend since FY2023.
Q3 FY2026 and to confirm whether the 1.14 ratio and $135.8 million backlog represent sustained order momentum.
contracted 210 to 38.6%, pressured by unfavorable foreign currency exchange rates, unfavorable product mix, and higher material and personnel costs, despite higher volumes across all segments.
swung to a loss of $0.3M from a $2.7M profit a year ago, as SG&A rose to 38.1% of sales on FX impacts, higher bonus reserves, and investments in new Chief Business/Product Officer and Chief Operating Officer roles.
The company recorded $0.8M in restructuring costs in Q2 FY2026, up from $0.2M a year ago, tied to ongoing manufacturing consolidation and cost-reduction programs.
Liquidity remains strong with $75.7M in cash and a of 4.1 to 1.0; turned slightly negative at $(0.3)M for the six-month period, partly due to higher of $5.0M.
rose to $135.8M with a book-to-bill of 1.14, signaling continued demand strength, particularly in the Sensors where the book-to-bill reached 1.44.
Quantitative and Qualitative Disclosures About Market Risk
There have been no material changes in the market risks previously disclosed in Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026.
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There have been no material changes in the market risks previously disclosed in Part II, Item 7A “Quantitative and Qualitative Disclosures About Market Risk” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026.
The Company is subject to various legal proceedings that constitute ordinary, routine litigation incidental to its business. The Company believes that the foregoing matters will not have a material adverse effect on the Company’s business or its financial condition, results of o…
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The Company is subject to various legal proceedings that constitute ordinary, routine litigation incidental to its business. The Company believes that the foregoing matters will not have a material adverse effect on the Company’s business or its financial condition, results of operations, and cash flows.
In addition to the other information set forth in this Form 10-Q, you should carefully consider the factors discussed in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026. There h…
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In addition to the other information set forth in this Form 10-Q, you should carefully consider the factors discussed in Part I, Item 1A “Risk Factors” of our Annual Report on Form 10-K for the fiscal year ended December 31, 2025, filed with the SEC on February 27, 2026. There have been no material changes in reported risk factors from the information reported in our Annual Report on Form 10-K for the fiscal year ended December 31, 2025.