EX-99.1 2 ex_928457.htm EXHIBIT 99.1 ex_928457.htm

Exhibit 99.1

 

 

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FOR RELEASE: IMMEDIATE

 

 

CPS Technologies Announces Fourth Quarter 2025 Financial Results

 

Company Closes Out Year with Record Sales of $32.6 Million and Improved Balance Sheet to Support Future Growth

 

Norton, Massachusetts – March 2, 2025 – CPS Technologies Corporation (NASDAQ:CPSH) (“CPS” or the “Company”) today announced financial results for the fiscal fourth quarter ended December 27, 2025.

 

Fourth Quarter Summary

 

 

Revenue of $8.2 million, versus $5.9 million in the prior-year period, reflecting strong demand for the Company’s core product lines and expanded production.

 

 

Gross margin of 14.6 percent versus a gross loss in the fourth quarter of 2024.

 

 

Operating loss of $(0.1) million for the quarter compared to $(1.3) million in the prior-year period.

 

 

As previously announced, CPS won a $15.5 million follow-on order with a major multinational semiconductor manufacturer during the quarter.

 

 

On October 8, 2025 the Company closed on a public offering that brought in net proceeds of $9.5 million to be used for general corporate purposes, including the expansion of CPS’ production capabilities through the move to a larger facility.

 

 

“As expected, we closed 2025 with the strongest revenue in our Company’s history, $32.6 million, an increase in revenue of 54% over 2024, marking a great comeback for CPS as we position the organization for the future,” said Brian Mackey, President and CEO. “With the capital raise under our belt, we’re now able to focus on the array of growth opportunities we have developed. This includes increasing production, advancing our product portfolio, entering additional markets, winning new customers, and positioning ourselves to accelerate our revenue and profitability growth in the quarters to come. We are nearing the completion of our evaluation of potential sites for a larger, advanced CPS manufacturing facility and look forward to making this transition over the course of the remainder of 2026. Overall, we’re in great shape for another year of strong revenue, continued margin expansion, and an even stronger outlook going forward.”

 

Results of Operations

CPS reported revenue of $8.2 million for the fourth quarter of fiscal 2025 versus $5.9 million in the prior-year period, reflecting greater production rates and increased shipments, along with the impact from higher gold prices. Gross profit was $1.2 million, or 14.6 percent of revenue, versus a gross loss of $(0.3) million, or (5.1) percent of revenue, in the fiscal 2024 fourth quarter, with the year-over-year increase due to higher sales and greater production efficiencies.

 

Operating loss was $(0.1) million in the fiscal 2025 fourth quarter compared with an operating loss of $(1.3) million in the prior-year period; SG&A expenses totaled $1.3 million during the quarter, compared to $1.0 million in the same quarter of fiscal 2024. The increase was primarily due to higher variable compensation expense, reflecting the increase in annual revenue and profit. In addition, the higher revenue generated a significant increase in sales commission expense. Reported net income for the quarter was $0.0 million, or $0.00 per diluted share, versus a net loss of $(1.0) million, or $(0.07) per diluted share, in the quarter ended December 28, 2024.

 

 

 

Conference Call

The Company will be hosting its fourth quarter 2025 earnings call tomorrow, March 3, 2026, at 9:00 a.m. Eastern. Those interested in participating in the conference call should dial the following: 

Call in Number: 1-844-943-2942

Participant Passcode: 641664

 

The Company encourages those who wish to participate to call in 10 minutes before the scheduled start time to ensure the operator can connect all participants.

 

About CPS

CPS is an advanced materials company that designs, manufactures, and sells high-performance material solutions to global customers in transportation, energy, automotive, electronics, telecommunications, aerospace, and defense. The company specializes in proprietary metal matrix composites (MMCs), combining metals and ceramics to deliver superior strength, thermal management, and reliability for demanding applications such as high-speed rail, HVDC systems, mass transit, electric vehicles, internet equipment, and electrical infrastructure. CPS also produces hermetic packaging for high-reliability power and communications modules, supporting avionics, GPS, microprocessors, and specialized integrated circuits. Additionally, its lightweight HybridTech Armor® provides high strength-to-weight protection. CPS focuses on innovation, quality, and diversified high-growth markets to drive sustained, profitable growth. The Company’s Vision is “to pioneer the next generation of high-performance materials and solve the world’s toughest engineering challenges.”

 

Safe Harbor

Statements made in this document that are not historical facts or which apply prospectively, including those relating to 2026 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.

 

CPS Technologies Corporation                                      
111 South Worcester Street
Norton, MA 02766

www.cpstechnologysolutions.com

 

Investor Relations:

Chris Witty

646-438-9385

cwitty@darrowir.com

 

 

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CPS TECHNOLOGIES CORP.

Statements of Operations and Other Comprehensive Income (Loss) (Unaudited)

 

   

Three Months Ended

   

Twelve Months Ended

 
   

December 27,

2025

   

December 28,

2024

   

December 27,

2025

   

December 28,

2024

 
                                 

Product sales

  $ 8,208,041     $ 5,933,283     $ 32,596,314     $ 21,123,346  
                                 

Cost of product sales

    6,988565       6,204,808       27,306,955       21,241,984  
                                 

Gross profit

    1,219,476       (271,525 )     5,289,359       (118,638 )
                                 

Selling, general, and administrative expenses

    1,318,163       1,047,459       4,845,385       4,262,290  
                                 

Income (loss) from operations

    (98,687 )     (1,318,984 )     443,974       (4,380,928 )
                                 

Other income

    123,680       45,134       238,664       286,979  
                                 

Net income (loss) before income taxes

    24,993       (1,273,850 )     682,638       (4,093,949 )

Income tax provision (benefit)

    12,399       (278,697 )     262,284       (958,500 )
                                 

Net income (loss)

  $ 12,594     $ (995,153 )   $ 420,354     $ (3,135,449 )

Other comprehensive income

                               

Net unrealized gains (losses) on available for sale securities

    (7,037 )     (1,946 )     (15,361 )     15,500  

Total other comprehensive income (loss)

    (7,037 )     (1,946 )     (15,361 )     15,500  

Comprehensive income (loss)

    5,557       (997,099 )     404,993       (3,119,949 )
                                 

Net income (loss) per basic common share

  $ 0.00     $ (0.07 )   $ 0.03     $ (0.22 )
                                 

Weighted average number of basic common shares outstanding

    17,996,884       14,525,960       15,286,097       14,522,513  
                                 

Net income (loss) per diluted common share

  $ 0.00     $ (0.07 )   $ 0.03       (0.22 )
                                 

Weighted average number of diluted common shares outstanding

    18,190,719       14,525,960       15,388,726       14,522,513  

 

 

 

CPS TECHNOLOGIES CORP.
BALANCE SHEETS

(Unaudited) 

 

   

December 27,

   

December 28,

 
   

2025

   

2024

 

ASSETS

               
                 

Current assets:

               

Cash and cash equivalents

  $ 4,466,198     $ 3,280,687  

Marketable securities, at fair value

    8,769,363       1,031,001  

Accounts receivable-trade, net

    5,235,307       4,858,208  

Accounts receivable-other

    380,948       177,068  

Inventories, net

    5,598,407       4,331,066  

Prepaid expenses and other current assets

    299,829       480,986  

Total current assets

    24,750,052       14,159,016  

Property and equipment:

               

Production equipment

    10,647,170       10,382,379  

Furniture and office equipment

    910,310       891,921  

Leasehold improvements

    997,830       997,830  

Total cost

    12,555,310       12,272,130  

Accumulated depreciation and amortization

    (10,877,927 )     (10,377,756 )

Construction in progress

    459,671       108,874  

Net property and equipment

    2,137,054       2,003,248  

Net intangible assets

    21,778       -  

Right-of-use lease asset

    336,000       186,000  

Deferred taxes, net

    2,266,854       2,528,682  

Total assets

  $ 29,511,738     $ 18,876,946  

LIABILITIES AND STOCKHOLDERS’ EQUITY

               

Current liabilities:

               

Notes payable, current portion

  $ -     $ 8,130  

Accounts payable

    3,363,233       3,053,712  

Accrued expenses

    907,910       913,279  

Deferred revenue

    238,044       172,429  

Lease liability, current portion

    162,000       160,000  
                 

Total current liabilities

    4,671,187       4,307,550  
                 

Deferred revenue – long term

    31,277       31,277  

Long term lease liability

    174,000       26,000  
                 

Total liabilities

    4,876,464       4,364,827  

Commitments & Contingencies

               

Stockholders’ Equity:

               

Common stock, $0.01 par value, authorized 20,000,000 shares; issued 18,132,767 and 14,661,487 shares; outstanding 17,988,634 and 14,525,960; at December 27, 2025 and December 28, 2024, respectively

    181,320       146,615  

Preferred stock, no shares issued or outstanding

           

Additional paid-in capital

    50,295,019       40,580,387  

Accumulated other comprehensive income

    139       15,500  

Accumulated deficit

    (25,469,891 )     (25,890,245 )

Less cost of 144,133 and 135,527 common shares repurchased at December 27, 2025 and December 28, 2024, respectively

    (371,313 )     (340,138 )
                 

Total stockholders’ equity

    24,635,274       14,512,119  
                 

Total liabilities and stockholders’ equity

  $ 29,511,738     $ 18,876,946