CVD Equipment (CVV) Q3 2026 earnings summary

Executive summary

• September restructuring ended pursuit of new equipment system orders; remaining work centers on backlog, warranties, spare parts, quartz and services.

• Q3 continuing-operations net loss was $2.106 million; 9M net income of $9.411 million included a $14.115 million after-tax SDC divestiture gain.

• SDC was sold on April 1, 2026; Q3 consolidated net loss was $1.5 million, including $0.6 million of discontinued-operations income, principally from a tax estimate adjustment.

Financial highlights

• Q3 revenue was $1.583 million versus $5.681 million YoY; gross profit was $146,000 versus $1.818 million.

• Q3 continuing-operations operating loss was $2.359 million versus $42,000 operating income YoY; continuing-operations net loss was $2.106 million versus $118,000 income.

• 9M revenue was $5.381 million versus $15.418 million; continuing-operations net loss was $5.203 million versus $1.403 million.

• 9M consolidated net income was $9.411 million versus a $317,000 loss, including $14.115 million after-tax gain on the SDC sale.

• Q3 restructuring charges were $762,000, primarily severance, asset impairments, and legal and board-related costs.

Outlook and guidance

• Existing cash, receivable and contract-asset collections, and revenue from backlog are expected to cover working capital and capital needs for the next 12 months.

• About $2.2 million of unrecognized contract revenue is expected to be substantially recognized within the next 12 months.

• Workforce reductions and restructuring are expected to be substantially completed in Q4 2026; the remaining ~$0.5 million liability is expected to be substantially paid by June 30, 2027.

• Strategic alternatives, further cost reductions, and real estate monetization remain under evaluation; no transaction or sale proceeds are assured.