CPS Technologies Q1 Earnings Call Highlights

CPS Technologies (NASDAQ:CPSH) reported first-quarter fiscal 2026 gross of $7.0 million, down from $7.5 cardinal a twelvemonth earlier, with absorption attributing the diminution chiefly to bid timing alternatively than demand. President and CEO Brian Mackey said the little income “does not diminish our affirmative outlook for 2026, nor bespeak a deficiency of orders oregon demand,” portion the institution continues to measure sites for a aboriginal manufacturing installation relocation.

Leadership modulation highlighted

The telephone featured an instauration of Chris Fraser, who is acceptable to go CPS’s adjacent main fiscal serviceman aboriginal successful the month. Mackey said Fraser volition walk clip moving with outgoing CFO Chuck Griffith earlier officially taking the role, and helium thanked Griffith for 7 years of service. Griffith said his departure is “tentatively scheduled for the extremity of this month.”

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Fraser told investors his inheritance includes serving arsenic controller astatine Precision Castparts Corp. and CFO roles tied to federally funded early-stage ventures astatine the Advanced Regenerative Manufacturing Institute. He noted familiarity with SBIR and STTR programs and said helium is excited to assistance CPS amended fiscal show and prosecute maturation opportunities.

Quarterly fiscal results

Griffith reported gross nett of $0.6 million, oregon 8.6% of revenue, compared with $1.2 million, oregon 16.4% of revenue, successful the archetypal 4th of fiscal 2025. He said the diminution was mostly driven by little gross and the existent play interaction of an inventory build. Griffith said that “in aboriginal quarters, owed to expected gross maturation and changes successful merchandise mix, we expect margins volition grow,” and helium added the institution expects operating efficiencies to amended pursuing the determination to a caller facility.

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Selling, wide and administrative expenses were $1.1 million, unchanged from the year-ago quarter. CPS posted an operating nonaccomplishment of astir $500,000, compared with operating nett of astir $100,000 successful the prior-year period. Net nonaccomplishment was astir $300,000, oregon antagonistic $0.02 per share, versus nett income of conscionable nether $100,000, oregon $0.01 per share, successful the archetypal 4th of fiscal 2025.

On the equilibrium sheet, CPS ended the 4th with $5.7 cardinal successful currency and $6.8 cardinal successful marketable securities, for $12.5 cardinal combined, down from $13.2 cardinal combined astatine the opening of fiscal 2026. Accounts receivable totaled $3.8 cardinal arsenic of March 28, 2026, down from $5.2 cardinal astatine Dec. 27, 2025.