CPS TECHNOLOGIES CORP/DE/
CPSH · Pottery & Related Products · 18.0M shares · +2%/yr ↑ shares · EDGAR filings ↗
Net buyback after stock comp: -$138K (gross $172K, SBC $310K)
Reference price $3.85 · est. market cap ~$69M — last insider purchase, 2026-03-16 (estimated from the dated SEC Form 4 price × shares outstanding — not a live quote)
Grade
C62Niche advanced-materials maker with explosive revenue growth and a pristine balance sheet, but collapsed earnings and heavy customer concentration.
Strengths
- Revenue growth 54% (86th pct); current ratio 5.3 and quick 4.1 with a 100+ quarter cash runway
- Defensible MMC/IP niche serving defense and electrification markets
Risks
- Net income growth -113% and operating margin 1.4%; gross margin 16.2% (14.6th pct)
- Three customers = 64% of revenue; capital-intensive aging equipment
Notable findings
- Exec changeRecent 8-K item 5.02 8-K ↗
- Cash burnNegative free cash flow (-0.5M)
- Customer concentration~64% of revenue from one customer/distributor — In 2025, three customers accounted for approximately 64% of our revenue, compared to 58% in 2024
- Revenue declineRevenue -14.4% YoY
Quarterly revenue
Last 4 quarters · from SEC filings.
Key metrics
Gross margin
16.2%
Operating margin
1.4%
Net margin
1.3%
Return on equity
1.7%
Return on assets
1.4%
Revenue growth (QoQ)
-14.4%
Current ratio
5.3×
Free cash flow
-$487K
EBITDA
$1M
Tangible book value
$25M
Cash & investments
$13M
Cash runway
109q
Stock comp / revenue
0.8%
Insider transactions · last 18 months
| Date | Insider | Type | Shares | Price |
|---|---|---|---|---|
| 2026-06-24 | Mackey Brian T | Option exercise | 10K | $2.93 |
| 2026-05-28 | Mackey Brian T | Option exercise | 10K | $1.96 |
| 2026-05-18 | Griffith Charles Kellogg Jr | Option exercise | 24K | $2.14 |
| 2026-05-18 | Griffith Charles Kellogg Jr | Tax withheld | 9.8K | $5.35 |
| 2026-05-18 | NORWOOD RALPH M | Option exercise | 15K | $1.49 |
| 2026-05-18 | NORWOOD RALPH M | Tax withheld | 4.2K | $5.35 |
| 2026-05-11 | Griffith Charles Kellogg Jr | Option exercise | 25K | $1.55 |
| 2026-05-11 | Griffith Charles Kellogg Jr | Tax withheld | 9.0K | $4.32 |
| 2026-05-11 | NORWOOD RALPH M | Option exercise | 20K | $1.55 |
| 2026-05-11 | NORWOOD RALPH M | Tax withheld | 7.2K | $4.32 |
| 2026-03-16 | Cavoli Ivo James | Buy | 2.3K | $3.85 |
| 2026-02-19 | HUGHES FRANCIS J JR | Option exercise | 15K | $1.83 |
| 2025-12-12 | Griffith Charles Kellogg Jr | Option exercise | 15K | $1.55 |
| 2025-12-12 | Griffith Charles Kellogg Jr | Tax withheld | 6.4K | $3.62 |
| 2025-12-08 | BENNETT GRANT C | Gift | 4.0K | $3.29 |
| 2025-11-13 | Cavoli Ivo James | Buy | 1.5K | $3.42 |
| 2025-10-08 | Mackey Brian T | Buy | 16K | $3.00 |
| 2025-10-08 | Cavoli Ivo James | Buy | 25K | $3.00 |
| 2025-10-08 | Griffith Charles Kellogg Jr | Buy | 4.0K | $3.00 |
| 2025-10-08 | HUGHES FRANCIS J JR | Buy | 18K | $3.00 |
| 2025-10-08 | Snow Daniel C | Buy | 3.3K | $3.00 |
| 2025-08-20 | Cavoli Ivo James | Buy | 1.5K | $3.03 |
| 2025-08-11 | Cavoli Ivo James | Buy | 2.8K | $2.88 |
| 2025-08-08 | Cavoli Ivo James | Buy | 700 | $2.90 |
| 2025-08-08 | Cavoli Ivo James | Buy | 5.7K | $2.72 |
| 2025-08-08 | Cavoli Ivo James | Buy | 233 | $2.85 |
| 2025-06-18 | Cavoli Ivo James | Buy | 6.3K | $2.54 |
| 2025-03-19 | Mackey Brian T | Buy | 5.0K | $1.56 |
| 2025-03-18 | Mackey Brian T | Buy | 7.5K | $1.55 |
| 2025-03-17 | Mackey Brian T | Buy | 7.5K | $1.55 |
| 2025-03-17 | Cavoli Ivo James | Buy | 7.0K | $1.57 |
All non-derivative Form 4 activity (SEC), newest first.
Supply chain
Customers (2)
- NASA
- U.S. Navy
Suppliers (0)
Named in the 10-K; linked when we track them.
Notable events (8-K)
| Date | Items | |
|---|---|---|
| 2026-06-01 | Material agreement5.03OtherExhibits | filing ↗ |
| 2026-05-08 | Exec/director changeExhibits | filing ↗ |
| 2026-05-06 | ResultsOtherExhibits | filing ↗ |
| 2026-05-06 | Shareholder voteReg FD | filing ↗ |
| 2026-03-04 | ResultsOtherExhibits | filing ↗ |
| 2025-12-17 | Exec/director change | filing ↗ |
| 2025-10-31 | ResultsOtherExhibits | filing ↗ |
| 2025-10-08 | Other | filing ↗ |
Recent filings
| Form | Filed | Period | Accession |
|---|---|---|---|
| 8-K | 2026-06-01 | 2026-05-27 | 0001437749-26-018930 ↗ |
| 8-K | 2026-05-08 | 2026-05-04 | 0001437749-26-015873 ↗ |
| 8-K | 2026-05-06 | 2026-05-04 | 0001437749-26-015161 ↗ |
| 8-K | 2026-05-06 | 2026-04-30 | 0001437749-26-015136 ↗ |
| 10-Q | 2026-05-05 | 2026-03-28 | 0001437749-26-014881 ↗ |
| 8-K | 2026-03-04 | 2026-03-02 | 0001437749-26-006916 ↗ |
| 10-K | 2026-03-03 | 2025-12-27 | 0001437749-26-006687 ↗ |
| 8-K | 2025-12-17 | 2025-12-11 | 0001437749-25-038158 ↗ |
| 8-K | 2025-10-31 | 2025-10-29 | 0001437749-25-032484 ↗ |
| 10-Q | 2025-10-31 | 2025-09-27 | 0001437749-25-032553 ↗ |
| 8-K | 2025-10-08 | 2025-10-07 | 0001437749-25-030706 ↗ |
| 8-K | 2025-08-01 | 2025-07-30 | 0001437749-25-024314 ↗ |