CPS Technologies Corp. ( (CPSH) ) has released its Q4 earnings. Here is a breakdown of the information CPS Technologies Corp. presented to its investors.
CPS Technologies Corporation is a leader in the technology and manufacturing sector, specializing in high-performance energy management components that support the electrification of the economy, including applications in electric vehicles, wind turbines, and aerospace.
The company recently announced its financial results for the fourth quarter of 2024, highlighting a strategic shift in its revenue streams and a positive outlook for 2025. Despite a decrease in revenue compared to the previous year, CPS Technologies has successfully replaced its completed HybridTech Armor® contract with new revenue sources.
Key financial metrics from the fourth quarter reveal a revenue of $5.9 million, a decrease from $6.7 million in the same period last year. The company reported a gross loss of $0.3 million and an operating loss of $1.3 million, primarily due to lower volumes and increased operational costs. However, CPS Technologies has secured three new Phase I SBIR contracts and achieved its first commercial sale of radiation shielding, indicating a strategic expansion of its product offerings.
Looking ahead, CPS Technologies is optimistic about its growth prospects for 2025. The company is increasing its production capacity and focusing on new product development, which is expected to enhance its financial performance and profitability in the coming year.