CPS Technologies Corporation
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Range $6 – $6
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About the company
Headquartered in Norton, Massachusetts, and established in 1984, CPS Technologies Corporation is a provider of cutting-edge material solutions. The company's core offering consists of metal matrix composites, innovative blends of metal and ceramic, tailored for diverse high-tech applications. These composites are integral to products serving a broad spectrum of industries, including transportation (such as baseplates for motor controllers in electric trains, subway cars, and hybrid/electric vehicles), energy (wind turbines), computing and internet infrastructure (lids and heatspreaders for integrated circuits in switches and routers), telecommunications, aerospace (hermetic packages for radar, satellite, and avionics), defense, and the oil and gas sector.
- CEO
- Brian T. Mackey
- IPO
- 1994
- Employees
- 117
- HQ
- Norton, MA, US
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- Market Cap
- $61.72M
- P/E
- 830.43
- Fwd P/E
- 382.00
- PEG
- -31.11
- P/S
- 1.91
- P/B
- 2.10
- EV/EBITDA
- 326.51
- Div Yield
- 0.00%
- Gross Margin
- 14.09%
- Op Margin
- -1.87%
- Net Margin
- 0.11%
- ROE
- 0.15%
- ROIC
- 0.95%
Latest fiscal year · YoY change
- Revenue
- $32.60M+54.3%
- Gross Profit
- $5.29M+4558.4%
- Op Income
- $443.97K
- Net Income
- $420.35K+113.4%
- EPS
- $0.03+113.6%
- OCF Growth
- +107.0%
- FCF Growth
- +88.5%
- 52W High
- $14.39
- 52W Low
- $3.03
- 50D MA
- $5.06
- 200D MA
- $4.65
- Beta
- 2.12
- RSI (14)
- 37
- Avg Volume
- 1.79M
Earnings call summaries
Pick a quarter — each call distilled into takeaways, results, and a bull vs bear read.
CPS Technologies reported slightly higher Q2 sales, a sharp gross margin rebound from Q1, and said demand remains strong as it moves toward a larger manufacturing facility and new product opportunities.· August 4, 2026
- Q2 revenue was $8.3 million, up slightly year over year and above Q1 levels, with management citing robust demand.
- Gross margin recovered to 14.8% from 8.6% in Q1, though it was still below last year’s 16.5% because of higher material and plating costs.
- The company raised $9.6 million in a May secondary offering and ended the quarter with $19.2 million of cash and marketable securities combined.
- Management is close to finalizing lease terms for a new facility that would be about twice the size of the current site.
- Backlog remains strong, and CPS sees growing opportunities in tungsten, AlMax, HybridTech Armor, defense, energy infrastructure, AI, semiconductors, and space.
CPS reported Q2 revenue of $8.3 million versus $8.1 million in the second quarter of 2025. Gross profit was $1.2 million, or 14.8% of revenue, versus $1.3 million, or 16.5% of revenue a year ago; management said the year-over-year decline was partly due to higher material and plating costs. SG&A was $1.5 million versus $1.2 million last year, leading to an operating loss of about $200,000 versus an operating profit of $100,000 in the prior-year quarter. Net income was roughly $40,000, or $0.00 per share, versus about $100,000, or $0.01 per share, last year. The company said it expects shipments to continue at a similar pace in coming quarters based on current backlog and outlook, and it remains focused on moving to a new facility to support better performance in 2027 and beyond.
Brian Mackey’s tone was constructive and upbeat, centered on long-term growth rather than near-term disruption. He said the company is very close to finalizing a lease for a facility twice the size of the current location and emphasized that the move is important to support both existing demand and new products. He also highlighted expanding interest in energy infrastructure, AI, defense, semiconductors, space, and commercial applications, plus potential follow-on business from government programs and HybridTech Armor.
Christopher Fraser emphasized improving profitability, liquidity, and balance-sheet flexibility. He noted gross profit of $1.2 million, gross margin of 14.8%, and a 620-basis-point improvement versus Q1, while SG&A rose to $1.5 million partly because of noncash stock-option expense. He also highlighted the $9.6 million secondary offering and said the company ended with $15.4 million of cash and $3.8 million of marketable securities, versus $13.2 million combined at the start of the year. Inventory increased to $8.6 million from $5.6 million at the start of the year, which he tied to preparation for the facility move.
An investor asked whether CPS’s AlSiC versus copper tungsten comparison was leading to customer retention or new business, and Brian Mackey declined to go deep into the technical comparison on the call, offering to follow up offline. Another question focused on the facility move: management confirmed it expects a phased relocation with both build-out and equipment installation, and said the new equipment will go to the new site because the current facility lacks room. On requalification risk, Mackey said validation will be handled case by case with customers and that buffer inventory may help bridge any transition period.
The call suggested CPS has multiple growth levers: strong core backlog, a larger facility that could improve efficiency and margins, and increasing interest in newer products like tungsten alloys, AlMax, and HybridTech Armor. Management also sounded encouraged by potential government-backed and defense-related opportunities, including the Army, DOE, Navy, Marine Corps, and planned destroyer-class vessel contracts.
The move to a new facility is taking longer than expected, and management said its initial estimates were overly aggressive. The company also flagged millions of dollars of additional build-out and relocation spending, plus potential qualification and production-disruption complexity during the phased move. Gross margin was still below last year’s level, and SG&A rose, showing that execution and cost control remain important.
AI summary of the company's earnings call · Paraphrased · Not investment advice
- Free Float
- 91.8%
- Shares Outstanding
- 16.16M
- Float Shares
- 14.82M
of shares held by institutions
49 13F filers
Buy/sell ratio 0.00. Sells can include pre-scheduled 10b5-1 plan sales, not just discretionary selling.
Top institutional holders
Largest 13F positions, with quarter-over-quarter change.
| Holder | Shares | Δ Quarter |
|---|---|---|
| Vanguard Group Inc | 617.02K | ▲ 34.87K |
| Cibc Private Wealth Group, LLC | 221.02K | 0 |
Held by 29 ETFs
Biggest fund positions in CPSH by dollar value.
Recent insider transactions
Who's buying, who's selling, and how much.
| Date | Insider | Type | Shares |
|---|---|---|---|
| Jul 15, 26 | Cavoli Ivo James | other | 37,500 |
| Jun 24, 26 | Mackey Brian T | other | 10,000 |
| May 28, 26 | Mackey Brian T | other | 10,181 |
| May 21, 26 | BENNETT GRANT C | other | 7,500 |
| May 21, 26 | Mackey Brian T | other | 2,500 |
| May 21, 26 | Mackey Brian T | other | 2,500 |
| May 21, 26 | Mackey Brian T | other | 2,500 |
| May 21, 26 | Mackey Brian T | other | 2,500 |
| May 21, 26 | Cavoli Ivo James | other | 7,500 |
| May 21, 26 | HUGHES FRANCIS J JR | other | 7,500 |
A “Sell” may be a pre-scheduled 10b5-1 plan sale rather than a discretionary decision — read insider selling with that in mind.
Our CPSH coverage
Recent articles, reports, and earnings notes.
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Generate CPSH report →CPS Announces Long-Term Lease for 80,000-Square-Foot Facility in Attleboro, Massachusetts
globenewswire.com · Aug 20
CPS Announces $80.0 Million Securitization of Residual Interests
globenewswire.com · Aug 18
CPS Technologies Corporation (CPSH) Q2 2026 Earnings Call Transcript
seekingalpha.com · Aug 5
CPS Technologies Q2 Earnings Call Highlights
marketbeat.com · Aug 5
CPS Technologies Announces Second Quarter 2026 Financial Results
globenewswire.com · Aug 4
CPS Announces Second Quarter 2026 Earnings
globenewswire.com · Aug 4
CPS to Host Conference Call on Second Quarter 2026 Earnings
globenewswire.com · Aug 3
CPS Technologies Schedules Its Q2 Earnings Call
globenewswire.com · Jul 31
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