Interlink Electronics(US:LINK)2024-11-07 21:57Financial Performance - Revenue for Q3 2024 was approximately $2.7 million, a decrease of 13.1% from $3.1 million in Q3 2023, primarily due to lower shipments of traditional force-sensor products and printed electronics [2][4]. - Gross profit margin for Q3 2024 was 41.4%, down from 47.4% in Q3 2023, and for the nine months ended September 30, 2024, it was 42.1%, down from 49.1% in the prior year [6][4]. - Net loss for Q3 2024 was $523,000, compared to a loss of $125,000 in Q3 2023, while the net loss for the first nine months of 2024 was $1,571,000, compared to a profit of $65,000 in the same period last year [7][4]. - Adjusted EBITDA for Q3 2024 was negative $260,000, compared to negative $4,000 in Q3 2023, and for the nine months ended September 30, 2024, it was negative $848,000, down from positive $448,000 in the prior year [8][4]. - The decline in revenue and changes in product mix have significantly impacted gross profit, leading to a gross profit of $1.1 million in Q3 2024, down from $1.5 million in Q3 2023 [2][4]. - Revenue for Q3 2024 was $2,671,000, a decrease of 13.2% from $3,075,000 in Q3 2023 [21]. - Gross profit for Q3 2024 was $1,105,000, down 24.2% from $1,459,000 in Q3 2023 [21]. - Net loss for Q3 2024 was $(523,000), compared to a net loss of $(125,000) in Q3 2023 [22]. - Total operating expenses for Q3 2024 were $1,581,000, slightly up from $1,551,000 in Q3 2023 [21]. - Adjusted EBITDA for Q3 2024 was $(260,000), compared to $(4,000) in Q3 2023 [22]. Cash and Assets - The company ended Q3 2024 with $3.8 million in cash and cash equivalents, down from $4.3 million at the end of 2023 [8][4]. - Total assets as of September 30, 2024, were $14.1 million, down from $15.1 million at the end of 2023 [18][4]. - Stockholders' equity decreased to $11,466,000 in Q3 2024 from $13,028,000 in Q3 2023 [20]. - Total liabilities increased to $2,655,000 in Q3 2024 from $2,034,000 in Q3 2023 [20]. - Total liabilities and stockholders' equity amounted to $14,121,000 in Q3 2024, down from $15,062,000 in Q3 2023 [20]. Operational Strategy - The company has a robust pipeline of prospective customers and orders, particularly in the Gas and Environmental Sensors division, which is expected to drive organic revenue growth in 2025 [5][4]. - The company plans to expand its sales team to drive organic growth and promote solutions on a global scale [9][4]. - The recent acquisition of Calman Technology has increased intangible asset amortization expenses, contributing to the net loss [7][4]. Expenses - Engineering, research and development expenses for Q3 2024 were $486,000, down from $588,000 in Q3 2023 [21]. - Selling, general and administrative expenses increased to $1,095,000 in Q3 2024 from $963,000 in Q3 2023 [21].