I would say the access question — let me say it differently — our three segments booked $102.1 million, first above $100 million since 2022, book-to-bill 1.21. At this point in time the profile is AI infrastructure and defense. The honest frame: this sits off three years averaging book-to-bill below 1.0. Adjusted free cash flow negative $3.7 million on working-capital build. Whether orders convert to sustained revenue is the question we are watching, not answering.

src ▸

VPG / $102 million of orders - the first $100M quarter since 2022

rcpt ▸

/p/p-day-20260730-vpg-src-vpg-bookings-surge-conversation ↗

ts ▸

2026-07-30T06:56:58.323Z