Core Insights - Consumer Portfolio Services, Inc. reported earnings of $4.7 million, or $0.19 per diluted share, for Q1 2025, showing a slight increase from $4.6 million in Q1 2024 [1][9] - Revenues for Q1 2025 reached $106.9 million, a 16.6% increase from $91.7 million in Q1 2024 [2][9] - The company achieved the highest amount in new loan originations for any first quarter in its history, with new contract purchases totaling $451.2 million [5][9] Financial Performance - Total operating expenses for Q1 2025 were $100.1 million, up from $85.2 million in the same period last year [2] - Pretax income for Q1 2025 was $6.8 million, compared to $6.6 million in Q1 2024 [2] - The annualized net charge-offs for Q1 2025 were 7.54% of the average portfolio, down from 7.84% in Q1 2024 [4][13] Portfolio and Receivables - As of March 31, 2025, total receivables amounted to $3.615 billion, an increase from $3.491 billion as of December 31, 2024, and $3.021 billion as of March 31, 2024 [3][12] - Delinquencies greater than 30 days were 12.35% of the total portfolio as of March 31, 2025, slightly down from 12.39% a year earlier [4][13] - The company purchased $451.2 million in new contracts during Q1 2025, compared to $346.3 million in Q1 2024 [3][12] Operational Highlights - The company focuses on providing indirect automobile financing to individuals with past credit problems or limited credit histories [7] - CPS funds contract purchases primarily through the securitization markets and services the contracts over their lives [7] - A conference call is scheduled for May 13, 2025, to discuss the Q1 2025 operating results [5][6]

Core Insights - CPS Technologies Corporation (CPSH) experienced a 4.8% decline in shares following the first quarter of 2025 results, contrasting with a 1.5% growth in the S&P 500 index during the same period [1] - The company reported record revenues of $7.5 million, a 27% year-over-year increase from $5.9 million, driven by strong demand for AlSiC and hermetic packaging products [2] - Gross profit rose to $1.2 million with a margin of 16.4%, up from $0.9 million and a margin of 15.3% a year ago, indicating improved manufacturing efficiencies [3] Revenue & Profitability - Net income was just under $100,000, reversing a net loss of approximately $140,000 from the previous year, reflecting a positive turnaround [3] - The company is now debt-free after paying off its debt in the first quarter and maintains a current ratio of 3.3, above the industry average of 2.4 [5] Operational Metrics - Cash and equivalents decreased to $1.9 million from $3.3 million, attributed to working capital needs related to revenue growth [4] - Trade accounts receivable increased to $6.3 million from $4.9 million, while payables and accruals rose modestly to $4.2 million from $4 million [4] Strategic Focus - Management emphasized the strength of non-armor revenues and the growing demand for core products, particularly in hermetic packaging and AlSiC components for electric trains and power modules [6] - The company aims to improve gross margins, targeting a return to 20-25% through operational improvements and staff training [7] Market Opportunities - AlSiC products are being integrated into infrastructure for wind power and high-voltage DC transmission systems, driven by increasing power needs from AI workloads [8] - CPSH plans to utilize new 5-axis machining capabilities for customer shipments, tapping into a $50 million market opportunity in hermetic packaging [9] Future Outlook - While no formal financial guidance was issued, management expressed confidence in achieving record full-year revenues based on current backlog and demand [10] - CPSH is expanding its product portfolio through various research programs, including projects for radiation shielding and thermal energy storage [11] Challenges & Developments - A commercial HybridTech radiation shielding order was canceled, but CPSH continues to develop radiation shielding under a $1.1 million DOE contract [12] - The company is exploring new armor applications, including lightweight ballistic flooring for helicopters, which has passed testing and is under OEM review [13] Summary - CPS Technologies demonstrated a strong recovery in the first quarter of 2025, showcasing operational resilience and growth without reliance on its previous armor segment, positioning itself favorably in high-demand sectors [14]

Financial Performance - CPS Technologies reported record revenue of $7.5 million for Q1 2025, up from $5.9 million in Q1 2024, marking a 27% increase[4] - Gross profit for the quarter was $1.2 million, representing a gross margin of 16.4%, compared to $0.9 million and 15.3% in the prior-year period[4] - The company achieved an operating profit of $0.1 million in Q1 2025, a turnaround from an operating loss of $(0.3) million in Q1 2024[5] - Net income for the quarter was $0.1 million, or $0.01 per diluted share, compared to a net loss of $(0.1) million, or $(0.01) per share, in the same quarter last year[5] Growth Strategy - The company initiated three new Phase I Army SBIR contracts during the quarter, contributing to its growth strategy[6] - The company is focused on further margin improvement and expanding its target markets to strengthen its outlook for fiscal 2025[3] - CPS Technologies aims to pioneer high-performance materials and address critical needs in various applications, including clean energy solutions[8] Assets and Liabilities - Total current assets increased to $14.7 million as of March 29, 2025, compared to $14.2 million at the end of 2024[14] - Total liabilities stood at $4.5 million as of March 29, 2025, slightly up from $4.4 million at the end of 2024[14] Earnings Call - The company encourages participation in its earnings call scheduled for May 1, 2025, to discuss these results further[7]

Financial Data and Key Metrics Changes - The company reported record revenue of $7,500,000 for the first quarter, an increase from $5,900,000 in the same period last year, representing a year-over-year growth of approximately 27% [5][7][12] - Gross profit for the quarter was $1,200,000, or about 16.4% of sales, compared to $900,000 or 15.3% of sales last year, indicating improved manufacturing efficiencies [8][9] - The company achieved a net income of just under $100,000, or $0.01 per share, compared to a net loss of around $140,000, or negative $0.01 per share in Q1 of fiscal 2024 [10] Business Line Data and Key Metrics Changes - The company successfully replaced the loss of armor revenue with growth in other product sales, driven by strong customer demand and increased production output [5][6] - Demand for Altic and Traumatic Pactane products remains strong, with accelerated orders for films in response to customer needs [13] Market Data and Key Metrics Changes - The company noted potential future orders for armor products, particularly from the U.S. Navy, which could positively impact revenue growth [13] - The market for hybrid electric military ground vehicles is expanding, with significant interest in fiber reinforced aluminum (FRA) for various applications, including aerospace [17] Company Strategy and Development Direction - The company is focused on enhancing profitability through higher asset utilization and improved operating efficiencies, with ongoing initiatives to drive margin expansion [14][23] - The product development team is expanding its portfolio, including metal matrix composite products and radiation shielding solutions, targeting a $4,000,000,000 market [20][22] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued revenue growth, supported by a strong backlog and increased manufacturing capabilities [6][23] - The company is monitoring the impact of tariffs on raw materials, noting that aluminum costs represent a small percentage of finished products, thus minimizing potential negative effects [39][40] Other Important Information - The company has six active externally funded research programs, including five SBIRs, indicating strong market interest in its technology [16] - A recent cancellation of a purchase order for Hybri Tech radiation shielding was due to reasons unrelated to the company, but management remains optimistic about future opportunities in this area [19] Q&A Session Summary Question: Potential to bring in other partners to market unique technologies - Management confirmed existing partnerships and ongoing discussions with market participants, particularly in the fiber reinforced aluminum sector [27][28] Question: Opportunities in radioactive shielding - Management highlighted strong market interest in their radiation shielding solutions, particularly for modular walls and lightweight barriers [29][30] Question: Other potential armor opportunities - Management mentioned ongoing efforts to pursue additional military contracts, particularly for helicopter ballistic protection [34][35] Question: Current tariff environment impact - Management indicated that raw material costs, including aluminum, do not significantly impact the bottom line, and they are actively reviewing supply chain options [39][42] Question: Profit margin concerns - Management acknowledged that yield issues and product mix have affected margins, but they are focused on improving these metrics moving forward [45][46] Question: Goals for gross margins - Management expressed a goal to improve gross margins to 20-25% in the future, depending on product mix and operational improvements [57][58]

Financial Data and Key Metrics Changes - The company reported record revenue of $7,500,000 for Q1 2025, up from $5,900,000 in Q1 2024, representing a year-over-year increase of approximately 27% [5][7][12] - Gross profit for the quarter was $1,200,000, or about 16.4% of sales, compared to $900,000 or 15.3% of sales in the previous year [8][9] - The company achieved an operating profit of approximately $130,000, a significant improvement from an operating loss of around $260,000 in the prior year [10][11] Business Line Data and Key Metrics Changes - Revenue growth was driven by strong demand for core products, particularly Altic and Traumatic Pactane, despite no sales from Hybri Tech Armor in the current quarter [6][13] - The company has seen increased production output and a strong order backlog, contributing to higher capacity utilization [8][12] Market Data and Key Metrics Changes - Demand for MMC products has returned to strong levels post-COVID, with new opportunities emerging in wind farms and electric power applications [14][15] - The company is exploring significant future growth opportunities in markets such as aerospace and military applications, particularly with fiber reinforced aluminum [17][21] Company Strategy and Development Direction - The company is focused on enhancing profitability through higher asset utilization and improved operating efficiencies [14][23] - Ongoing product development initiatives include six active externally funded research programs, with a focus on hybrid tech and radiation shielding solutions [16][21] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about continued revenue growth and margin improvement, supported by a strong demand for products and new market opportunities [6][23] - The company is prepared for its best year ever, with production levels and shipments at record highs [23] Other Important Information - The company ended the quarter with $1,900,000 in cash and $1,000,000 in marketable securities, down from $3,300,000 in cash at the start of 2025 [11] - The company is actively monitoring the tariff environment and its potential impact on raw material costs, noting that materials do not constitute a large percentage of finished products [35][36] Q&A Session Summary Question: Potential for partnerships to market unique technologies - The company has established relationships with partners in hermetic packaging and is exploring further opportunities as commercialization approaches [26][27] Question: Status of radioactive shielding opportunities - The company is receiving market interest for its radiation shielding solutions, particularly for modular walls and lightweight barriers [28][29] Question: Other potential armor opportunities - The company is pursuing additional opportunities, including a phase one army solution for military helicopter flooring [31][32] Question: Current tariff environment impact - The company noted that raw materials like aluminum do not significantly impact overall costs, and they are monitoring supply chain adjustments [34][35][38] Question: Profit margin concerns - Management acknowledged that yield issues from adding a third shift affected margins but are focused on improving these metrics moving forward [40][41][50] Question: Market share and growth attribution - The company believes it is gaining market share and new customers while benefiting from overall market growth in electrical grid expansion and wind farm developments [54][58]

Core Insights - CPS Technologies Corporation reported record revenue of $7.5 million for the first quarter of fiscal 2025, a significant increase from $5.9 million in the same period of 2024, indicating strong demand and operational improvements [4][8] - The company achieved a gross profit of $1.2 million, representing a gross margin of 16.4%, up from 15.3% in the prior year, reflecting enhanced production efficiencies [4][8] - CPS returned to profitability with a net income of $0.1 million, or $0.01 per diluted share, compared to a net loss of $(0.1) million, or $(0.01) per share, in the first quarter of 2024 [5][8] Financial Performance - Revenue for the first quarter of fiscal 2025 was $7.5 million, a 27.1% increase from $5.9 million in the first quarter of fiscal 2024 [4][11] - Gross profit increased to $1.2 million, with a gross margin of 16.4%, compared to $0.9 million and a gross margin of 15.3% in the previous year [4][11] - Operating profit was $0.1 million for the quarter, a turnaround from an operating loss of $(0.3) million in the prior-year period [5][11] Strategic Outlook - The company is focusing on further margin improvement and expanding its target markets, which is expected to strengthen its outlook for fiscal 2025 [3][4] - CPS has initiated three new Phase I Army SBIR contracts during the quarter, contributing to its growth strategy [8] - The management emphasizes the importance of investing in future product lines to meet customer requirements, which is beginning to yield positive results [3][4]

Shares of CPS Technologies Corporation (CPSH) have been unchanged since reporting results for the fourth quarter of 2024. This compares to the S&P 500 index’s 0.7% growth over the same time frame. In the past month, the stock has lost 11.6% compared with the S&P 500’s 8.3% decline.Financial PerformanceCPS Technologies reported a fourth-quarter 2024 loss per diluted share of 7 cents, falling 800% from earnings of 1 cent per diluted share in the prior-year quarter.The company reported total quarterly revenues ...

3 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ Annual Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934 for the fiscal year ended December 28, 2024 or ☐ Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934, for the transition period from to Commission file number: 0-16088 CPS TECHNOLOGIES CORP. (Exact Name of Registrant as Specified in its Charter) Delaware (State or Other Jurisdiction of Incorp ...

Financial Performance - Revenue for the fourth quarter of 2024 was $5.9 million, a decrease from $6.7 million in the prior-year period, primarily due to the completion of the HybridTech Armor® contract[5] - Gross loss for the fourth quarter was $0.3 million, representing a gross margin of (4.6)%, compared to a gross profit of $1.1 million and a margin of 17.0% in the same quarter of fiscal 2023[5] - Operating loss for the fourth quarter was $1.3 million, compared to an operating profit of $0.1 million in the prior-year period[7] - The company reported a net loss of $1.0 million, or $(0.07) per diluted share, compared to net income of $0.2 million, or $0.01 per diluted share, in the quarter ended December 30, 2023[7] Revenue Growth - Revenue increased by 40% sequentially from the third quarter of 2024, attributed to the addition of a third shift and increased production capacity[4] Contracts and Sales - The company secured three Phase I SBIR contracts from the U.S. Army, each valued at $250,000, raising the total number of externally funded programs to six[6] - CPS announced its first commercial sale of radiation shielding, marking a significant expansion of its product offerings[6] - The ongoing $13.3 million power module contract supports the company's positive outlook for 2025[4] Assets and Equity - Total current assets decreased to $14.2 million as of December 28, 2024, down from $18.1 million a year earlier[15] - Total stockholders' equity decreased to $14.5 million as of December 28, 2024, compared to $17.3 million at the end of the previous year[15]

Financial Data and Key Metrics Changes - The company's revenue for Q4 2024 was $5.9 million, down from $6.7 million in the same quarter last year, primarily due to the fulfillment of a U.S. Navy armor contract [10][11] - The operating loss for Q4 was approximately $1.3 million, compared to an operating income of about $0.1 million in Q4 2023 [16] - A net loss of $1 million or $0.07 per share was reported, contrasting with a net income of $0.2 million or $0.01 per diluted share in Q4 of fiscal 2023 [17] - The gross loss in Q4 was $0.3 million, representing approximately negative 4.6% of sales, compared to a gross profit of $1.1 million or 17% of sales last year [14] Business Line Data and Key Metrics Changes - Sales declined year-over-year due to the completion of the armor contract, but there was a significant sequential increase of 40% in revenue from Q3 2024 due to increased customer shipments [6][21] - The company is fulfilling a $13.3 million contract with a semiconductor manufacturer for power module components, which is expected to continue through September 2025 [23] - Continued strong demand for power module components and related solutions from both new and existing customers was noted [12] Market Data and Key Metrics Changes - The company is experiencing strong demand for its metal matrix composites and hermetic packaging applications, particularly in high-speed rail, wind turbines, and electric vehicle applications [24][39] - The company is actively seeking new customers in the aerospace industry for its fiber reinforced aluminum (FRA) products [39] Company Strategy and Development Direction - The company aims to expand its product offerings and target new applications in key markets with demanding technical requirements [25] - Plans to add new product lines leveraging proprietary technology, including aluminum infiltrated products, were discussed [27] - The company is optimistic about securing additional armor orders for Navy vessels in fiscal 2025, despite current budget challenges [40] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about a turnaround from Q3 results, with expectations for improved financial performance and operational execution in 2025 [21][38] - The company anticipates improving gross margins and bottom-line results as production volumes increase and one-time expenses are behind them [38] - Management highlighted the importance of ongoing strong customer demand and expanded manufacturing capabilities for future growth [41] Other Important Information - The company has transitioned to a new auditing firm, PKF O'Connor Davies, for its 2024 audit [9][19] - The company reported a significant increase in cash and marketable securities, ending the year with $3.3 million in cash and $1 million in marketable securities, compared to $8.8 million in cash at the start of 2024 [17] Q&A Session Summary Question: What is the market size for radiation shielding in the trucking business? - Management indicated that the market is still in development, with early interest from various applications beyond trucking, including facility management and aerospace [44][48] Question: What kind of revenues might be expected in the next year or two for those applications? - Management stated it is difficult to quantify revenues at this stage due to the diverse markets and the need for certification as a supplier [49][50] Question: Will the company manufacture munitions rounds if accepted by the army? - Management explained that the SBIR funding allows for potential sole source provision if the company can meet the army's needs through the development process [53][56] Question: What is the timeline for the munitions development process? - The SBIR program has a 6-month Phase-1, followed by a potential 24-month Phase-2, depending on the progress made [58][60] Question: What is the status of the Southeast Asian Armor contract? - Management confirmed that development work is ongoing to restore potential for the armor contract, but a timeline for further testing is not currently available [104][106]