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CSP (CSPI) investor relations material
CSP Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.
Executive summary
Fiscal Q3 2025 revenue rose 18% year-over-year to $15.4M, driven by strong Technology Solutions performance and expanding cloud and cybersecurity offerings, notably AZT Protect, with new contracts in key verticals and addition to the Russell 3000 Index.
Product revenue grew 29% year-over-year to $10.2M, while service revenue was stable at $5.3M; TS segment growth offset HPP segment declines.
Gross margin fell to 29% from 34–35% a year ago, and operating loss widened to $1.2M from $0.7M; net loss for the quarter was $0.3M, with a $0.8M income tax benefit.
Ended the quarter with over $26M in cash and cash equivalents, supporting ongoing investments, dividends, and share repurchases.
Material weaknesses in internal controls over credit card use and income tax reporting remain unresolved, with remediation plans underway.
Financial highlights
Q3 revenue was $15.4M (up $2.3M YoY); product revenue grew 29% YoY; gross profit was $4.5M (29% margin); net loss was $0.3M ($0.03 per share).
Nine-month revenue totaled $44.3M (up $2.1M YoY); net income for nine months was $0.1M ($0.01 per share), aided by a $1.5M tax benefit.
Cash and cash equivalents at quarter-end were $26.3M, down $4.3M from prior year-end.
Operating cash flow for nine months was $0.4M, down from $5.7M prior year.
SG&A expenses increased 7% for the quarter, mainly due to higher sales, marketing, and compensation costs.
Outlook and guidance
Management expects continued top and bottom line growth for the full fiscal year if current trends persist, with strong Q4 momentum and high interest across business segments.
Reseller feedback and recent wins suggest revenue acceleration for AZT Protect in the next 3–6 months.
Management expects available cash, operations, and credit to cover working capital and capex needs for at least 12 months.
No specific long-term revenue projections for AZT Protect were disclosed publicly.
Ongoing evaluation of the impact of new U.S. tax law (OBBBA) and global trade tensions; financial effect not yet determined.
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