$CVV

CVD EQUIPMENT CORP

CIK:0000766792|SEC Filings

Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Income Statement [Abstract]
Revenue	$ 1,953	$ 3,404	$ 3,798	$ 9,737
Cost of revenue	1,624	2,923	3,321	7,451
Gross profit	329	481	477	2,286
Operating expenses:
Research and development	685	639	1,413	1,373
Selling	232	282	472	649
General and administrative	971	931	1,992	1,954
Gain on sale of equipment			46
Total operating expenses	1,888	1,852	3,831	3,976
Operating loss from continuing operations	(1,559)	(1,371)	(3,354)	(1,690)
Other income (expense):
Interest income	190	82	261	192
Interest expense		(3)	(1)	(7)
Rental income, net of expenses	(3)		(3)
Total other income, net	187	79	257	185
Loss from continuing operations before income taxes	(1,372)	(1,292)	(3,097)	(1,505)
Income tax expense				16
Net loss from continuing operations	(1,372)	(1,292)	(3,097)	(1,521)
Income from discontinued operations, net of income taxes (Note 2)	13,937	231	13,999	820
Net income (loss)	$ 12,565	$ (1,061)	$ 10,902	$ (701)
Loss from continuing operations - basic	$ (0.20)	$ (0.19)	$ (0.45)	$ (0.22)
Loss from continuing operations - diluted	(0.20)	(0.19)	(0.45)	(0.22)
Income from discontinued operations - basic	2.01	0.03	2.02	0.12
Income from discontinued operations - diluted	2.01	0.03	2.02	0.12
Net income (loss) - basic	1.81	(0.15)	1.58	(0.10)
Net income (loss) - diluted	$ 1.81	$ (0.15)	$ 1.58	$ (0.10)
Weighted-average number of common shares outstanding - basic	6,927,388	6,867,868	6,918,614	6,860,846
Weighted-average number of common shares outstanding - diluted	6,927,388	6,867,868	6,918,614	6,860,846

Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income (loss)	$ 10,902	$ (701)
Adjustments to reconcile net income (loss) to net cash used in operating activities:
Stock-based compensation	422	514
Depreciation and amortization	268	354
Gain on disposition of SDC, net of income taxes	(13,500)
Gain on sale of equipment	(46)
Provision for bad debts	14
Changes in assets and liabilities, net of the effects of disposition:
Accounts receivable	(886)	(2,844)
Contract assets	1,651	(1,542)
Inventories	376	(213)
Other assets	(15)	511
Accounts payable	(297)	260
Accrued expenses	(144)	(653)
Contract liabilities	(52)	(1,118)
Security deposit	30
Net cash used in operating activities	(1,277)	(5,432)
Cash flows from investing activities:
Proceeds from disposition of SDC	15,715
Proceeds from assets held for sale and sale of equipment	556
Purchases of property and equipment	(14)	(49)
Investment in captive insurance company	(50)	(51)
Net cash provided by (used in) investing activities	16,207	(100)
Cash flows from financing activities
Payments of long-term debt	(181)	(43)
Net cash used in financing activities	(181)	(43)
Net increase (decrease) in cash and cash equivalents	14,749	(5,575)
Cash and cash equivalents at beginning of period	8,734	12,598
Cash and cash equivalents at end of period	23,483	7,023
Supplemental disclosure of cash flow information:
Income taxes paid	3	16
Interest paid	3	7
Non-cash activity – amount held in escrow	900
Non-cash activity – accrued income taxes on gain on sale of SDC	$ 710

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets
Cash and cash equivalents	$ 23,483	$ 8,734
Accounts receivable, net of allowance for credit losses	1,771	1,293
Contract assets	1,397	2,853
Inventories	247	285
Amount held in escrow	900
Current assets of discontinued operations		2,852
Assets held for sale		510
Other current assets	350	357
Total current assets	28,148	16,884
Property, plant and equipment, net	10,276	10,529
Noncurrent assets of discontinued operations		46
Other assets	99	50
Total assets	38,523	27,509
Current liabilities
Accounts payable	155	250
Accrued expenses	1,060	849
Income taxes payable	688
Contract liabilities	541	560
Current maturities of long-term debt		181
Current liabilities of discontinued operations		944
Total current liabilities	2,444	2,784
Security deposit	30
Total liabilities	2,474	2,784
Contingencies – Note 12
Stockholders’ equity:
Common stock - $0.01 par value – authorized 20,000,000 shares; issued and outstanding 6,946,703 and 6,937,338 at June 30, 2026 and December 31, 2025, respectively	69	69
Additional paid-in capital	31,121	30,699
Retained earnings (accumulated deficit)	4,859	(6,043)
Total stockholders’ equity	36,049	24,725
Total liabilities and stockholders’ equity	$ 38,523	$ 27,509