Earnings release
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Source: CPS Technologies Corp. November 03, 2026 16:15 ET CPS Technologies Announces Third Quarter 2026 Financial Results Margin Expansion and Record Quarterly Revenue as Company Finalizes Plans for New Facility NORTON, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- CPS Technologies Corp. (NASDAQ:CPSH) (“CPS” or the “Company”) today announced nancial results for its scal third quarter ended September 26, 2026. Third Quarter Summary Revenue of $8.9 million, re ecting strong ongoing demand for the Company’s growing array of mission-critical products. Gross margin of 20.9 percent and operating pro t of $0.4 million. Announced that the Company had received its rst order from a defense contractor for tungsten alloy components manufactured using the Company’s proprietary QuickSet Injection MoldingTM process. CPS also signed a long-term lease during the quarter for an 80,000-square-foot facility – approximately twice the size of its current location – in Attleboro, Massachusetts to expand production and increase ef ciency. Received new volume orders from an existing customer and large semiconductor manufacturer establishing continued deliveries into scal 2027. “We are pleased to report solid progress this quarter on a number of fronts,” said Brian Mackey, President and CEO. “Due to higher demand and increased production, our quarterly revenue rose to a new high for our company and gross margins expanded to 20.9% – a level not seen in more than three years. This proves the resilience of our product lines, interest in our broadening portfolio of offerings, and sound operating execution. We also recently announced the signing of a lease in nearby Attleboro that will allow CPS to further expand operations in support of increased top line growth and higher returns for our shareholders. Detailed planning is well underway with the support of Dacon Corporation, our construction management partner, as well as various engineers and contractors. While exploring ways to potentially initiate a partial move earlier in 2027, complex production requirements likely mean the full buildout will continue into the second half of next year. In the meantime, I’m also pleased to announce that, once again, we have secured signi cant volume orders for our high-performance products from the Company’s biggest customer, a semiconductor manufacturer, at levels consistent with the prior-year period. These components are integrated into systems supporting high-speed rail as well as energy and grid infrastructure. Given
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this backdrop, we believe the Company is in excellent shape for continued growth and higher nancial results heading into scal 2027.” Results of Operations CPS reported revenue of $8.9 million for the third quarter of scal 2026 versus $8.8 million in the prior-year period. Gross pro t was $1.9 million, or 20.9 percent of revenue, versus $1.5 million, or 17.1 percent of revenue, in the scal 2025 third quarter. Operating pro t was $0.4 million in the scal 2026 third quarter compared with $0.3 million in the prior-year period; SG&A expenses rose approximately $0.3 million year-over-year. Reported net income for the quarter was $0.3 million, or $0.02 per diluted share, versus $0.2 million, or $0.01 per diluted share, in the quarter ended September 27, 2025. Conference Call The Company will be hosting its third quarter 2026 earnings call tomorrow, November 4, 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: 258164 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 diversi ed high-growth markets to drive sustained, pro table 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 2025 nancial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identi ed 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 lings, including its Annual Report on Form 10-K and other periodic reports led 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 CORP. Statements of Operations and Other Comprehensive Income (Loss) (Unaudited) Three Months Ended Nine Months Ended September 26, 2026 September 27, 2025 September 26, 2026 September 27, 2025 Product sales $8,900,433 $8,803,695 $24,238,504 $24,388,272 Cost of product sales 7,043,948 7,301,129 20,546,352 20,318,390
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Gross pro t 1,856,485 1,502,566 3,692,152 4,069,882 Selling, general, and administrative expenses 1,498,738 1,226,484 4,115,567 3,527,223 Income (loss) from operations 357,747 276,082 (423,415) 542,659 Other income, net 163,349 45,483 455,722 114,985 Net income before income taxes 521,096 321,565 32,307 657,644 Income tax provision (bene t) 174,339 113,601 (58,017) 249,885 Net income $ 346,757 $ 207,964 $ 90,324 $ 407,759 Other comprehensive income Net unrealized gains (losses) on available for sale securities 17,132 (2,293) 13,773 7,913 Reclassi cation adjustment for gains included in net income - - - (16,237) Total other comprehensive income (loss) 17,132 (2,293) 13,773 (8,324) Comprehensive income 363,889 205,671 104,097 399,435 Net income (loss) per basic common share $ 0.02 $ 0.01 $ 0.00 $ 0.03 Weighted average number of basic common shares outstanding 19,412,796 14,527,126 18,491,213 14,526,349 Net income (loss) per diluted common share $ 0.02 $ 0.01 $ 0.00 $ 0.03 Weighted average number of diluted common shares outstanding 19,757,374 14,674,384 18,799,554 14,598,576 CPS TECHNOLOGIES CORP. Condensed Balance Sheets (Unaudited) September 26, December 27, 2026 2025 ASSETS Current assets: Cash and cash equivalents $ 2,791,195 $ 4,466,198 Marketable securities, at fair value 15,612,554 8,769,363 Accounts receivable-trade 4,703,028 5,235,307 Accounts receivable-other 291,019 380,948 Inventories, net 10,320,406 5,598,407 Prepaid expenses and other current assets 281,682 299,829 Total current assets 33,999,884 24,750,052 Property and equipment:
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Production equipment 11,111,154 10,647,170 Furniture and of ce equipment 910,310 910,310 Leasehold improvements 997,830 997,830 Total cost 13,019,294 12,555,310 Accumulated depreciation and amortization (11,058,355) (10,877,927) Construction in progress 537,975 459,671 Net property and equipment 2,498,914 2,137,054 Net intangible assets 18,539 21,778 Restricted Cash 510,154 0 Right-of-use lease assets 8,578,856 336,000 Deferred taxes, net 2,325,327 2,266,854 Total assets $ 47,931,674 $ 29,511,738 LIABILITIES AND STOCKHOLDERS’ EQUITY Current liabilities: Accounts payable 3,766,979 3,363,233 Accrued expenses 832,504 907,910 Deferred revenue 513,910 238,044 Lease liabilities, current portion 163,000 162,000 Total current liabilities 5,276,393 4,671,187 Deferred revenue – long term 31,277 31,277 Long term lease liabilities 8,503,691 174,000 Total liabilities 13,811,362 4,876,464 Commitments & Contingencies Stockholders’ equity: Common stock, $0.01 par value, authorized 25,000,000 and 20,000,000 shares; issued 19,642,517 and 18,132,767 shares; outstanding 19,425,442 and 17,988,634 shares at September 26, 2026 and December 27, 2025, respectively 196,417 181,320 Additional paid-in capital 60,223,530 50,295,019 Accumulated other comprehensive income 13,912 139 Accumulated de cit (25,379,567) (25,469,891) Less cost of 217,075 and 144,133 common shares repurchased at September 26, 2026 and December 27, 2025, respectively (933,980) (371,313) Total stockholders’ equity 34,120,312 24,635,274 Total liabilities and stockholders’ equity $ 47,931,674 $ 29,511,738