Quarterly ResultMay 14, 2026, 04:07 PM
CVD Equipment Q1 Revenue $1.8M, Net Loss ($1.7M); SDC Sale Completed
AI Summary
CVD Equipment Corporation reported a significant decline in Q1 2026 revenue from continuing operations to $1.8 million, down 70.9% year-over-year, resulting in a net loss of ($1.7 million) or ($0.25) per share. The company completed the sale of its SDC division on April 1, 2026, generating $14.8 million in net cash proceeds, which strengthened its balance sheet to $23 million in cash and no long-term debt. The company is also implementing operational efficiencies, including a workforce reduction, to reduce annual operating costs by $1.8 million in fiscal 2026.
Key Highlights
- Completed the sale of its SDC division on April 1, 2026, generating $14.8 million in net cash proceeds.
- Q1 2026 revenue from continuing operations decreased 70.9% to $1.8 million from $6.3 million year-over-year.
- Reported a net loss from continuing operations of ($1.7 million), or ($0.25) per basic and diluted share.
- Gross margin from continuing operations declined to 8.0% from 27.4% in the prior year quarter.
- Orders for Q1 2026 were $1.8 million, an increase from $0.8 million in the prior year quarter.
- Backlog remained stable at $4.7 million as of March 31, 2026 and December 31, 2025.
- Workforce reduction expected to reduce annual operating costs by $1.8 million in fiscal 2026.
- Balance sheet strengthened with approximately $23 million in cash and no long-term debt post-SDC sale.