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Interlink Electronics (LINK+1.41%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's operations as a provider of sensors and printed electronics used in Human-Machine Interface (HMI) devices and Internet-of-Things (IoT) solutions. Interlink's product offerings include force-sensing technologies, piezo-electric sensors, and gas sensors, among others.
Revenue for the year was $11.7 million, a decrease from $13.9 million in the previous year. The decline in revenue was attributed to decreased shipments in the medical, industrial, and consumer markets.
Gross profit for the year was $4.8 million, down from $6.6 million in 2023, with a gross margin of 41.5% compared to 47.1% in the previous year.
Operating expenses totaled $6.9 million, slightly down from $7.0 million in 2023. This included $2.1 million in research and development expenses and $4.8 million in selling, general, and administrative expenses.
The company reported a net loss of $2.0 million, compared to a net loss of $0.4 million in the previous year. The loss was primarily due to decreased revenue and gross profit.
Interlink has $3.0 million in cash and cash equivalents as of December 31, 2024, with no outstanding debt. The company believes its cash balance is sufficient to maintain current operations.
The company completed the acquisition of Conductive Transfers in December 2024, expanding its capabilities in wearables and smart textiles.
Interlink's Board of Directors consists of four members, with Steven N. Bronson serving as Chairman, President, and CEO. The company has adopted a compensation recovery policy in compliance with Nasdaq rules.
Interlink's common stock is listed on the Nasdaq Capital Market under the symbol 'LINK'. The company does not anticipate paying dividends on its common stock in the foreseeable future.
The filing also discusses the company's risk factors, including reliance on a small number of customers, supply chain disruptions, and the impact of global economic conditions.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Interlink Electronics annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.