CVD Equipment Q1 revenue tumbles, loss widens on lower bookings

CVD Equipment

14/05/2026 21:10

Overview

US process equipment maker's Q1 revenue from continuing ops fell 71% yr/yr on lower system bookings

Net loss from continuing ops widened to $1.7 mln from $0.2 mln yr/yr

Company completed sale of SDC division after quarter-end, boosting cash and eliminating long-term debt

Outlook

Company expects annual operating costs to decrease by $1.8 mln in fiscal 2026 due to outsourcing

Company says bookings remain pressured by geopolitical uncertainty and reduced U.S. government funding for universities

CVD Equipment plans to focus on aerospace, defense, industrial SiC, and emerging nuclear energy applications

Result Drivers

LOWER SYSTEM BOOKINGS - Co said Q1 revenue and gross margin declined due to reduced CVD system bookings, citing geopolitical uncertainty, reduced U.S. government funding for universities, and slower adoption in some end markets

FIXED COST ABSORPTION - Gross margin decline attributed to lower absorption of fixed manufacturing costs due to reduced system revenue

CONTRACT MODIFICATION - $0.3 mln benefit from a contract modification partially offset revenue and margin declines

Company press release: ID:nBw8MRWKMa

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$1.84 mln
Q1 EPS
-$0.24
Q1 Net Income
-$1.66 mln
Q1 Gross Profit
$147,000
Q1 Operating Expenses
$1.94 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)