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Teuscher Walpole

Advisory Partners

Executive CFO Review Included

Industry: Manufacturing

Weekly Advisory Update

Week Ending: February 14, 2026

Continuous monitoring maintained by Teuscher Walpole advisory team.

Executive Financial Snapshot

As of this week's review

Revenue (TTM)

$12,850,000

+6.5%

EBITDA %

18.5%

+1.8%

Gross Margin %

38.2%

-1.2%

COGS Volatility

±4.2%

+0.8%

Cash on Hand

$1,250,000

+5.2%

Capacity Utilization

78.5%

+3.2%

Backlog

$2,450,000

+12.5%

DSO

52 days

+4 days

Performance Overview

Revenue Trend (12 Months)

JanFebMarAprMayJunJulAugSepOctNovDec085000170000255000340000

Trend visibility supports proactive planning and margin stability.

EBITDA Trend (12 Months)

JanFebMarAprMayJunJulAugSepOctNovDec0250005000075000100000

Trend visibility supports proactive planning and margin stability.

Liquidity & Capital Position

Cash Trend

JanFebMarAprMayJunJulAugSepOctNovDec0150000300000450000600000

Working Capital Position

Current Assets$1,245,000
Current Liabilities$685,000
Working Capital$560,000
Current Ratio1.82

AR Aging Summary

0-30 days31-60 days61-90 days90+ days03500070000105000140000

AP Aging Summary

0-30 days31-60 days61-90 days90+ days0250005000075000100000

Liquidity Optimization Opportunity

Cash position trending downward over 12 months. Working capital remains healthy at 1.82x coverage. Strategic review recommended to optimize cash deployment and maintain advisory threshold levels.

Weekly Advisory Summary

Week ending February 14, 2026

What Changed This Week

  • Margin movement: EBITDA margin improved 1.2% quarter-over-quarter, driven by operational efficiency gains and vendor cost optimization.
  • Liquidity observations: Cash reserves declining at $13.3K/month average. Current runway at 2.8 months above advisory threshold. Monitoring recommended.
  • Capital allocation: CapEx spending tracking 8% below budget. Opportunity to accelerate planned equipment upgrades in Q1 2026.
  • Operational efficiency: DSO increased 3 days to 42. Collection process refinement may accelerate working capital velocity.
  • Threshold proximity: DSCR at 1.45x, comfortably above 1.25x covenant requirement. No immediate exposure anticipated.

Forward 90-Day Impact Outlook

If current cash burn trends persist, projected liquidity impact of approximately $160K over the next 12 months. Strategic planning adjustments may mitigate this variance through revenue acceleration or expense optimization.

Recommended: Schedule advisory review with Teuscher Walpole.

Executive Advisory Review Call

Scheduled:February 21, 2026 at 10:00 AM EST

Conducted in coordination with Teuscher Walpole advisory team.

Executive CFO Strategic Review

CPA-Credentialed CFO Analysis • Week ending February 14, 2026

CFO Executive Summary

Based on comprehensive financial analysis and board-level strategic assessment, the company maintains strong operational fundamentals with targeted optimization opportunities. Capital structure remains defensible, liquidity position is adequate for near-term obligations, and covenant compliance provides comfortable buffer for strategic flexibility.

Key Executive Insight: Current trajectory supports sustainable growth, provided working capital velocity improvements are implemented within Q1 2026 planning window.

Scenario Modeling Summary

Base Case ScenarioProbability: 65%

Revenue growth at +8.2% YoY, EBITDA margin stabilizes at 24%, liquidity runway extends to 3.2 months. No covenant exposure anticipated.

Downside ScenarioProbability: 25%

Revenue contraction of -5%, margin compression to 20%, liquidity runway declines to 2.0 months. Covenant buffer narrows to 0.10x—advisory intervention required.

Upside ScenarioProbability: 10%

Revenue acceleration to +15% YoY, margin expansion to 28%, liquidity improves to 4.5 months. Opportunity for strategic reinvestment or debt paydown.

Capital Structure Commentary

Debt Positioning

Current DSCR at 1.45x provides adequate covenant buffer. Debt service obligations remain manageable under base case assumptions. No immediate refinancing pressure anticipated through 2026.

Equity Considerations

Retained earnings trajectory supports organic growth funding. Equity injection not required under base case. Consider strategic equity raise only if pursuing accelerated expansion.

Sensitivity Analysis

Revenue -10% Impact on DSCR1.28x (within covenant)
EBITDA Margin -5% Impact on Liquidity1.8 months runway
DSO +15 Days Impact on Working Capital-$185K cash impact
CapEx Acceleration +20% Impact on Cash-$95K additional outflow

Executive-Level Advisory Recommendations

  • Priority 1: Implement DSO reduction initiative targeting 38-day collection cycle. Estimated working capital release: $220K.
  • Priority 2: Accelerate equipment upgrade CapEx to Q1 2026 to capture operational efficiency gains before margin pressure intensifies.
  • Priority 3: Establish quarterly covenant monitoring cadence with lender to maintain transparency and preserve strategic flexibility.

Board Preparation Guidance

Recommended Board Discussion Points: (1) Working capital optimization timeline and resource allocation, (2) CapEx acceleration approval and ROI framework, (3) Covenant buffer monitoring protocol and early warning triggers, (4) Scenario planning assumptions and contingency activation thresholds.

Materials to Prepare: 12-month rolling cash forecast, covenant compliance certificate, DSO trend analysis, CapEx ROI justification, sensitivity analysis summary.

Performance Stability & Optimization Areas

Stability Indicators

  • EBITDA margin within tolerance at 24.0%, up from 22.8% prior quarter
  • Liquidity coverage at 2.8 months, above 2.0-month advisory threshold
  • DSCR at 1.45x provides comfortable covenant buffer
  • Revenue growth trajectory stable at +8.2% year-over-year

Optimization Opportunities

  • Vendor renegotiation potential identified in supply chain contracts
  • Working capital refinement through DSO reduction to 38-day target
  • Revenue alignment opportunity in underperforming product lines
  • Capital timing adjustments to accelerate Q1 2026 equipment upgrades

Next Advisory Review Scheduled: March 15, 2026