TRIO-TECH INTERNATIONAL

Trio-Tech International

Company profile

• California corporation that provides reliability test equipment and services to the semiconductor and other industries.
• Offers global, end-to-end solutions: designs and builds reliability test systems, provides testing services, and distributes test and semiconductor equipment and electronic components.
• Core focus on semiconductor back-end testing and related equipment, with additional offerings in industrial electronics.
• Corporate headquarters and principal operations are located internationally.

Segments (Fiscal 2025 and 2026)

Semiconductor Back-end Solutions (SBS)

• Designs and manufactures burn-in and reliability test equipment for back-end semiconductor manufacturing.
• Product mix includes burn-in systems, burn-in boards, and related equipment.
• Provides electrical, environmental and burn-in testing services in Asia-based laboratories.
• Supports customers’ NPI processes by providing testing and verification expertise.

Industrial Electronics (IE)

• Designs, manufactures, and distributes test, process, and related equipment for consumer and industrial manufacturing.
• Products include environmental chambers, leak detectors, autoclaves, centrifuges, HAST testers, temperature-controlled chucks, and related equipment.
• Services include preventive maintenance, calibration, repair, and upgrading/refurbishment.
• Distributes components such as connectors, cables, camera modules, LCD displays and touch screens, and offers customization and engineering support.

Real estate / Others

• Owns real estate investments in Chongqing, China.
• Historically contributed less than 1% of total revenue.
• Effective Fiscal 2025, management reclassified this as “Others” and it is no longer a separate reportable segment.

Revenue and customers

• SBS and IE accounted for 99.9% of total revenue for the years ended June 30, 2026 and 2025.
• Customer concentration:
  • The three largest customers accounted for approximately 57.6% of total net revenue in 2026 and 41.0% in 2025.
  • One major U.S.-based SBS customer contributed $24,222 (38.7% of total net revenue) for the year ended June 30, 2026 and $1,285 (3.5%) for the year ended June 30, 2025.
  • One IE-segment customer contributed $6,494 (10.4% of consolidated revenue) in 2026 and $6,139 (16.8%) in 2025.

Backlog and demand indicators

• Backlog as of June 30:
  • 2026: SBS backlog $19,773; IE backlog $4,399; total backlog $24,172.
  • 2025: SBS backlog $6,695; IE backlog $4,335; total backlog $11,030.
• Testing services backlog (SBS) is reported separately at $9,054 and is classified as a soft backlog based on customer demand forecasts and other indicators.

Products, services and capabilities

• SBS: burn-in and reliability testing equipment for semiconductor back-end processes, plus laboratory testing and NPI support.
• IE: wide range of test and process equipment across industries, aftermarket services (maintenance, calibration, repair, upgrades), and component distribution with customization and engineering support.
• Research and development efforts focus on product design and process technology and are conducted in the U.S. and Singapore.

Intellectual property

• No U.S. patent registrations during 2026 or 2025.
• The company believes it does not infringe others’ intellectual property and recognizes the industry risk of IP claims.

People and organization

• Employees as of June 30, 2026: approximately 943 full-time and 3 part-time.
  • Geography: about 5 full-time in the U.S.; about 938 in Asia.
  • By segment: about 894 in SBS; about 30 in IE; about 19 in general administration, logistics, real estate, and others.
• Employees as of June 30, 2025: approximately 614 full-time and 4 part-time.
  • Geography: about 5 in the U.S.; about 609 in Asia.
  • By segment: about 559 in SBS; about 31 in IE; about 24 in administration/logistics/real estate/others.
• Research and development expense:
  • $397 for the year ended June 30, 2026.
  • $384 for the year ended June 30, 2025.

Marketing and distribution

• Markets products and services worldwide through direct channels and independent sales representatives.
• Approximately five independent U.S. sales representatives and about twenty-two in foreign countries.

Geographic footprint

• Operations in the United States, Singapore, Malaysia, Thailand, and China.
• Manufacturing, testing, and distribution activities occur in facilities across the U.S., Singapore, Malaysia, and China.

Real estate and other investments

• Real estate investments in Chongqing, China.
• Historically contributed less than 1% of total revenue and are now reported within “Others.”

Cybersecurity

• In Fiscal 2026, a ransomware incident affected a Singapore subsidiary on March 11, 2026, resulting in file encryption and later unauthorized data disclosures on March 18, 2026.
• The company took containment actions, rebuilt affected systems, engaged third-party cybersecurity support, and reported no material disruption to operations or financial results as of June 30, 2026.
• Cybersecurity insurance is in place to mitigate potential related costs.

Strategy and growth approach

• Maintains a core focus on semiconductor-related businesses while working to reduce historical customer concentration by:
  • Expanding primary markets and increasing market share through improved products and services.
  • Entering growing markets and expanding geographic presence.
  • Developing new products and technologies for new markets.
  • Pursuing strategic relationships, acquisitions, investments, and joint development projects.
• Management reviews segment contributions and resource allocation as part of ongoing strategic planning.