CPS Technologies(CPSH) - 2024 Q4 - Annual Results

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)$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]