Quarterly ResultMay 4, 2026, 04:04 PM
CPS Technologies Q1 Revenue $7.0M, Net Loss $(0.3)M
AI Summary
CPS Technologies reported Q1 2026 revenue of $7.0 million, a decrease from $7.5 million in the prior-year period, with gross margin falling to 8.6% from 16.4%. The company posted an operating loss of $(0.5) million and a net loss of $(0.3) million, or $(0.02) per diluted share. Despite the financial downturn, CPS announced the appointment of Chris Fraser as its new CFO, secured a $4 million order for hermetic packaging, and received an extension for its Navy SBIR program. The company also confirmed its plan to move to a larger operating facility later in 2026, with increased inventory to mitigate disruption.
Key Highlights
- New Chief Financial Officer, Chris Fraser, joined May 4th, effective May 18th.
- Booked a $4 million order for hermetic packaging after the quarter ended.
- Navy extended Phase I SBIR program for Amphibious Combat Vehicles with a $100,000 option.
- Q1 2026 revenue was $7.0 million, down from $7.5 million in the prior-year period.
- Gross margin decreased to 8.6% in Q1 2026 from 16.4% in Q1 2025.
- Operating loss was $(0.5) million, compared to an operating profit of $0.1 million in Q1 2025.
- Net loss was $(0.3) million, or $(0.02) per diluted share, versus a $0.1 million profit in Q1 2025.
- Increased inventory levels by over $1.5 million in preparation for the upcoming facility move.