CPS Technologies Corp. Files 2023 Annual Report on Form 10-K

TL;DR

<b>CPS Technologies Corp. filed its 2023 10-K, reporting $14.6M in assets and $14.5M in revenue with a net income of $82K.</b>

AI Summary

CPS TECHNOLOGIES CORP/DE/ (CPSH) filed a Annual Report (10-K) with the SEC on March 14, 2024. CPS Technologies Corp. reported total assets of $14,601,487 for the fiscal year ended December 30, 2023. The company's net sales for the fiscal year ended December 30, 2023, were $14,519,215. Revenue for the fiscal year ended December 30, 2023, was $14,450,470. CPS Technologies Corp. had $82,272 in net income for the fiscal year ended December 30, 2023. The company's earnings per share (EPS) for the fiscal year ended December 30, 2023, was $0.01.

Why It Matters

For investors and stakeholders tracking CPS TECHNOLOGIES CORP/DE/, this filing contains several important signals. The filing provides a comprehensive overview of CPS Technologies Corp.'s financial performance and position for the fiscal year 2023, including detailed financial statements and risk factors. Investors and stakeholders can use this report to assess the company's operational efficiency, profitability, and future outlook based on its reported financial results and disclosed risks.

Risk Assessment

Risk Level: low — CPS TECHNOLOGIES CORP/DE/ shows low risk based on this filing. The company's financial performance is stable with modest revenue and net income, indicating a low-risk profile based on the provided data.

Analyst Insight

Review the detailed financial statements and risk factors in the 10-K to understand the company's operational performance and potential challenges.

Financial Highlights

revenue

14,450,470

operating Margin

4.24

total Assets

14,601,487

net Income

82,272

eps

0.01

gross Margin

3.43

Revenue Breakdown

Key Numbers

• 14,601,487 — Total Assets (As of December 30, 2023)
• 14,519,215 — Net Sales (For the fiscal year ended December 30, 2023)
• 14,450,470 — Revenue (For the fiscal year ended December 30, 2023)
• 82,272 — Net Income (For the fiscal year ended December 30, 2023)
• 0.01 — Earnings Per Share (Diluted) (For the fiscal year ended December 30, 2023)
• 3.43 — Gross Margin % (For the fiscal year ended December 30, 2023)
• 4.24 — Operating Margin % (For the fiscal year ended December 30, 2023)
• 3.11 — Net Margin % (For the fiscal year ended December 30, 2023)

Key Players & Entities

• CPS TECHNOLOGIES CORP/DE/ (company) — Filer name
• 20231230 (date) — Fiscal year end
• 20240314 (date) — Filing date
• MA (location) — State of incorporation
• 111 SOUTH WORCESTER STREET (address) — Business street address
• NORTON (location) — Business city
• 02766 (postal_code) — Business zip code
• CERAMICS PROCESS SYSTEMS CORP/DE/ (company) — Former company name

FAQ

Key Financial Figures

• $0.01 — nge on which registered Common Stock, $0.01 par value CPSH NASDAQ Capital Marke
• $20 million — releases. The Company has a backlog of $20 million as of December 30, 2023. This backlog c

Filing Documents

• cpsh20231229_10k.htm (10-K) — 754KB
• ex_638760.htm (EX-23.1) — 3KB
• ex_638762.htm (EX-31.1) — 7KB
• ex_638763.htm (EX-31.2) — 7KB
• ex_638764.htm (EX-32.1) — 4KB
• ex_638800.htm (EX-97) — 14KB
• 0001437749-24-007808.txt (&nbsp;) — 4677KB
• cpsh-20231230.xsd (EX-101.SCH) — 46KB
• cpsh-20231230_cal.xml (EX-101.CAL) — 49KB
• cpsh-20231230_def.xml (EX-101.DEF) — 333KB
• cpsh-20231230_lab.xml (EX-101.LAB) — 286KB
• cpsh-20231230_pre.xml (EX-101.PRE) — 362KB
• cpsh20231229_10k_htm.xml (XML) — 610KB

Business

Item 1. Business. CPS Technologies Corp. (the Company' or CPS') provides advanced material solutions for the transportation, automotive, energy, computing/internet, telecommunications, aerospace and defense markets. CPS products are important elements in electrifying the green economy and in the protection of military personnel around the world. Our primary material solution is metal matrix composites (MMCs). We design, manufacture and sell custom MMC components that improve the performance and reliability of systems in the end markets described above. The Company is an important participant in the growing movement towards alternative energy. The Company's products are used in high-speed trains, mass transit, hybrid and electric cars, wind-turbines for electricity generation, routers, switches and fiber optic components for internet infrastructure. The Company's products are used in high reliability communications and power modules for avionics and satellite applications such as the current generation of GPS satellites. The Company also produces housings and heat spreaders for high-performance microprocessors, graphics processing chips, and application-specific integrated circuits. All of these applications involve electrical energy use or energy generation; the Company's products allow higher performance and improved energy efficiency. Using its proprietary MMC technology, the Company also produces light-weight armor. Due to its ability to withstand extreme environments and high threat levels, CPS armor has been selected as the solution for the U.S. Navy's crew served weapons station program. Its light weight also makes it an ideal solution for aircraft and other vehicles requiring a high strength to weight ratio. MMCs are a class of materials consisting of a combination of metals and ceramics. Compared to conventional materials, MMCs provide superior thermal conductivity, improved thermal expansion matching, greater stiffness and lighter weight. These facto

Risk Factors

Item 1A. Risk Factors. The risks set forth below may not be the only risk factors relating to the Company. Any of these factors, many of which are beyond our control, could materially adversely affect our business, financial condition, operating results, cash flow and stock price. Business or economic disruptions or global health concerns could seriously harm our business. Broad-based business, economic disruptions or global health concerns could adversely affect our business and the sale of our products. For example, in December 2019 an outbreak of a novel strain of the coronavirus disease (COVID-19) originated in Wuhan, China, and has since spread to a number of other countries, including the United States. Initially, this outbreak resulted in extended shutdowns of certain businesses in the Wuhan region and had ripple effects to businesses around the world. While the impact of this pandemic has largely subsided, a resurgence of this virus or another could have an impact on our business. Although the Company has remained open throughout the COVID-19 pandemic, complete or partial government shutdowns of many businesses, schools, bars and restaurants have occurred. The Russian invasion of Ukraine and the conflict in Israel and Gaza could also adversely affect our business in spite of the immaterial amount of direct business we have done in this region in the past. We cannot presently predict the scope and severity of any future business shutdowns or disruptions to us, but if we or any of the third parties with whom we engage, including our customers, suppliers and other third parties, were to experience extended shutdowns or other business disruptions, our ability to conduct our business could be materially and negatively impacted, and could have a material adverse effect on our business and our results of operation and financial condition. A pandemic, epidemic or outbreak of an infectious disease in the United States or worldwide may adversely affect our busin

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View this 10-K filing on SEC EDGAR