Interlink Electronics(LINK) - 2024 Q4 - Annual Results

Revenue Performance - Fourth quarter 2024 revenue was $2.986 million, a decrease of 15.6% from $3.538 million in Q4 2023[7] - Full year 2024 revenue totaled $11.679 million, down 16.2% from $13.940 million in 2023[7] - Net revenue for Q4 2024 was $2,986,000, a decrease of 15.6% compared to $3,538,000 in Q4 2023[27] Profitability Metrics - Gross profit margin for Q4 2024 was 39.6%, compared to 41.0% in Q4 2023, primarily due to lower revenue and a less favorable product mix[9] - Gross profit for the year ended December 31, 2024, was $4,846,000, down 26.0% from $6,559,000 in 2023[27] - Adjusted EBITDA for Q4 2024 was $(233,000), compared to $(1,000) in Q4 2023[11] - Adjusted EBITDA for the year ended December 31, 2024, was $(1,081,000), a significant decline from $447,000 in 2023[30] Net Loss - Net loss for Q4 2024 was $413,000, an improvement from a net loss of $448,000 in Q4 2023[10] - Full year 2024 net loss was $2.0 million, compared to a net loss of $383,000 in 2023, driven by lower revenue and gross profit[13] - The net loss for the year ended December 31, 2024, was $1,984,000, compared to a net loss of $383,000 in 2023[27] Operating Expenses - Total operating expenses for Q4 2024 were $1,693,000, a decrease of 16.7% from $2,032,000 in Q4 2023[27] - Engineering, research and development expenses for Q4 2024 were $480,000, down 14.4% from $561,000 in Q4 2023[27] - Selling, general and administrative expenses for the year ended December 31, 2024, were $4,844,000, an increase of 3.7% from $4,672,000 in 2023[27] Loss from Operations - Loss from operations for Q4 2024 was $(510,000), compared to $(580,000) in Q4 2023[27] Share Performance - The company reported a basic and diluted loss per common share of $(0.05) for Q4 2024, compared to $(0.06) in Q4 2023[27] - Weighted average common shares outstanding for the year ended December 31, 2024, were 9,862,000, slightly down from 9,887,000 in 2023[27] Strategic Initiatives - The company received a $400,000 SBIR Phase II grant from NIST to enhance manufacturing techniques for printed gas sensors, aiming to scale output to over 10 million units annually[6] - The company launched the 110-37x gas sensor family at CES 2025, featuring sensors for detecting natural gas leak compounds[6] - The acquisition of Conductive Transfers Limited expands the company's capabilities in the e-textiles and wearables market[6] - The company designated its Fremont facility as its corporate headquarters, supporting global expansion efforts[5]