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CVD Equipment Corporation (CVV0.00%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing includes financial statements for the year, showing an increase in revenue to $26.9 million from $24.1 million in the previous year. This increase is attributed to higher revenues from aerospace and industrial contracts, as well as the SDC segment.
Cost of revenue for the year was $20.5 million, compared to $19.0 million in the previous year. The increase in cost is due to higher production volumes.
The company reported a gross profit of $6.3 million for the year, compared to $5.1 million in the previous year, with the improvement attributed to increased sales and improved margins on contracts.
Operating expenses decreased to $8.7 million from $10.0 million, primarily due to a gain on sales of equipment and lower general and administrative expenses.
The company recorded a net loss of $1.9 million, compared to a net loss of $4.2 million in the previous year. This improvement is due to higher revenues and lower operating expenses.
Cash and cash equivalents at the end of the year were $12.6 million, compared to $14.0 million at the end of the previous year.
CVD Equipment operates through three segments: CVD Equipment, SDC, and MesoScribe. The company focuses on growth in markets related to aerospace, microelectronics, and industrial applications.
The company continues to face challenges related to supply chain disruptions and inflationary pressures, which have impacted manufacturing lead times and costs.
CVD Equipment has identified risks related to sales concentration, competition, and supply chain dependencies, which could affect future financial performance.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the CVD Equipment Corporation annual 10-K report dated March 19, 2025. To report an error, please email earnings@qz.com.