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CVD Equipment (CVV) investor relations material
CVD Equipment Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Q3 2025 revenue was $7.4 million, down 9.6% year-over-year, but up 44.9% sequentially from Q2 2025; year-to-date revenue reached $20.8 million, a 7.1% increase over the same period in 2024.
Orders for Q3 totaled $2.2 million, with a nine-month total of $9.5 million, down from $21 million in the prior year; backlog at September 30, 2025, was $8 million, down from $13.2 million at June 30, 2025.
Net income for Q3 2025 was $384,000 ($0.06 per diluted share), up from $203,000 ($0.03 per share) in Q3 2024.
Cash and cash equivalents were $8.4 million at quarter-end, down from $12.6 million at year-end 2024.
Transformation strategy launched to reduce fixed costs and improve agility, including outsourcing and workforce reduction.
Financial highlights
Gross profit for Q3 was $2.4 million, with a gross margin of 32.7%, up from $1.8 million and 21.5% in Q3 2024.
Operating income was $308,000, up from $77,000 in Q3 2024.
Net cash used in operations for the first nine months was $4.1 million, mainly due to working capital changes and contract timing.
Operating margin for Q3 2025 was 4.2%, up from 0.9% in Q3 2024.
Total stockholders' equity was $25.8 million as of September 30, 2025.
Outlook and guidance
Transformation plan expected to reduce annual operating costs by $2 million starting in 2026, with workforce reduction and outsourcing fabrication.
Company expects to incur $100,000 in severance and related charges in Q4 2025.
$5.3 million in unrecognized contract revenue is expected to be recognized within the next twelve months.
Current cash and projected operating cash flows expected to cover working capital and capex needs for at least 12 months.
Return to consistent profitability depends on new orders, cost management, and successful transformation execution.
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