CPS Technologies Corporation Announces Fourth Quarter 2024 Financial Results

Core Viewpoint - CPS Technologies Corporation is experiencing significant growth and is optimistic about its future, particularly for 2025, driven by new product developments and increased production capacity [3][4]. Financial Performance - Revenue for the fourth quarter of fiscal 2024 was $5.9 million, a decrease from$6.7 million in the prior-year period, primarily due to the conclusion of the HybridTech Armor contract with Kinetic Protection for the U.S. Navy [5][8]. - The company reported a gross loss of $0.3 million, or (4.6) percent of revenue, compared to a gross profit of$1.1 million, or 17.0 percent of revenue, in the same quarter of fiscal 2023 [5]. - Operating loss for the fourth quarter was $1.3 million, contrasting with an operating profit of$0.1 million in the prior-year period [6]. - The net loss was $1.0 million, or$(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 [6][13]. Operational Developments - The company has initiated a third shift of operations, which contributed to a 40% sequential revenue increase from the third quarter of fiscal 2024 [4]. - CPS has secured its first commercial order for radiation shielding and received Army SBIR funding to support Fiber Reinforced Aluminum (FRA), expanding its product portfolio into new markets [3][8]. - The company announced three Phase I SBIR contracts, each valued at $250,000, funded by the U.S. Army, focusing on advanced artillery challenges and enhancing military vehicle fuel efficiency [8]. Outlook - The company is positioning itself for stronger results in 2025, supported by increased demand for core products, including a$13.3 million power module contract [4]. - CPS is optimistic about returning to profitability as revenue continues to rise and operations improve [4].