TechPrecision receives noncompliance notification from Nasdaq

Virtus InfraCap U.S. Preferred Stock ETF (PFFA): The ETF has declared a distribution of $0.1700 with a 30-Day SEC Yield of 9.19% as of July 31.

Distribution Details: The payment is scheduled for August 26, with shareholders of record on August 20 and an ex-dividend date also on August 20.

Earnings Calls: EnWave Corporation (NWVCF) and TechPrecision Corporation (TPCS) have upcoming earnings call transcripts for Q3 2025 and Q1 2026, respectively.

Market Updates: European indexes are showing cautious gains as markets assess the EU-U.S. trade deal, while Visa has decided to discontinue its U.S. open banking operations due to regulatory uncertainties.

Gross Margin Improvement: TechPrecision's gross margin increased significantly to 14% in Q1 fiscal 2026, up from 3% the previous year, despite an 8% decline in revenue to $7.4 million.

Narrowed Operating Loss: The company reduced its operating loss by 65% year-over-year to $0.5 million, aided by cost management and the absence of prior acquisition-related expenses.

Record Backlog: TechPrecision reported a record backlog of $50.1 million, indicating strong customer confidence and expectations for further gross margin expansion over the next few years.

Customer Concentration Risk: The company remains heavily reliant on a small number of customers, with the top ten accounting for 96% of revenue in FY2025, highlighting the need for diversification in its client base.