C
CVD EQUIPMENT CORP
CVVCIK 0000766792NasdaqNon-AcceleratedSmaller ReportingSpecial Industry Machinery, NecNew YorkFY ends Dec 31
Period
FY 2025
Revenue
$25.79M
Net Income
$-1.58M
Total Assets
$27.51M
Equity
$24.73M
Shares Out
6.94M
Op. Cash Flow
$-3.68M
Business
CVD EQUIPMENT CORP designs, develops, and manufactures advanced materials processing equipment for production and research applications. It offers chemical vapor deposition and infiltration systems, physical vapor transport (PVT) crystal growth systems, rapid thermal processing and furnace equipment, ultra‑high purity gas and liquid delivery systems, quartzware, and related software, services and consumables. The company operates through three reportable segments: CVD Equipment (process and production systems), SDC (gas and chemical delivery control systems), and MesoScribe (printed electronics, now divested). Its products sell to aerospace, defense, microelectronics, battery/energy storage, industrial customers, universities and research labs through direct sales, independent representatives and distributors domestically and internationally.
Summary from filing dated 2025-03-19
Financials
Consolidated Statement of Income
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Revenue | 26 | 27 | 24 | 26 | — | |
| Cost of revenue | 18 | 21 | 19 | 19 | 13 | |
| Gross profit | 7 | 6 | 5 | 7 | 3 | |
| Research and development | 3 | 3 | 3 | 2 | 2 | |
| Selling | 1 | 2 | 2 | 1 | 864,000 | |
| General and administrative | 5 | 5 | 5 | 5 | 5 | |
| Impairment charges | 200,000 | — | 111,000 | — | 0 | |
| Gains on sales of equipment | — | −717,000 | — | — | — | |
| Total operating expenses, net | 9 | 8 | 10 | 8 | 8 | |
| Operating loss | −2 | −2 | −5 | −2 | −5 | |
| Interest income | 341,000 | 559,000 | 577,000 | 162,000 | 6,000 | |
| Interest expense | −13,000 | −19,000 | −23,000 | — | — | |
| Other income | — | 2,000 | 91,000 | 15,000 | 500,000 | |
| Total other income, net | 328,000 | 542,000 | 687,000 | 2 | — | |
| Loss before income tax | −2 | −2 | −4 | −220,000 | 5 | |
| Income tax expense | 3,000 | 24,000 | −14,000 | 4,000 | 28,000 | |
| Net loss | −2 | −2 | −4 | −224,000 | 5 | |
| Basic (per share) | −0.23 | −0.28 | −0.62 | −0.03 | 0.71 | |
| Diluted (per share) | −0.23 | −0.28 | −0.62 | −0.03 | 0.71 | |
| Basic (shares) | 7 | 7 | 7 | 6,734 | 7 | |
| Diluted (shares) | 7 | 7 | 7 | 6,734 | 7 |
Consolidated Balance Sheet
As of · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Cash and cash equivalents | 9 | 13 | 14 | 14 | 17 | |
| Accounts receivable, net of allowance for credit losses | 2 | 2 | 2 | 4 | 1 | |
| Contract assets | 3 | 2 | 2 | 2 | 3 | |
| Inventories | 2 | 2 | 4 | 3 | 1 | |
| Assets held for sale | 500,000 | — | — | — | — | |
| Other current assets | 367,000 | 898,000 | 852,000 | 797,000 | 494,000 | |
| Total current assets | 17 | 20 | 23 | 24 | 23 | |
| Property, plant and equipment, net | 11 | 12 | 12 | 13 | — | |
| Other assets | 52,000 | 1,000 | 18,000 | 10,000 | 10,000 | |
| Total assets | 28 | 32 | 35 | 38 | 36 | |
| Accounts payable | 642,000 | 679,000 | 1 | 1 | 1 | |
| Accrued expenses | 1 | 2 | 2 | 3 | 2 | |
| Current maturities of long-term debt | 181,000 | 87,000 | 81,000 | 77,000 | — | |
| Contract liabilities | 773,000 | 3 | 5 | 4 | 1,650 | |
| Total current liabilities | 3 | 6 | 9 | 8 | 6 | |
| Long-term debt, net of current portion | — | 181,000 | 268,000 | 349,000 | 0 | |
| Total liabilities | 3 | 6 | 9 | 9 | 6 | |
| Contingencies (see note 14) | — | — | — | — | — | |
| Common stock - $0.01 par value 20,000,000 shares authorized; issued and outstanding 6,937,338 at December 31, 2025 and 6,881,838 at December 31, 2024 | 69,000 | 69,000 | 68,000 | 67,000 | 67,000 | |
| Additional paid-in capital | 31 | 30 | 29 | 28 | 27 | |
| Accumulated deficit | −6 | −4 | −3 | 2 | 2 | |
| Total stockholders equity | 25 | 25 | 26 | 29 | 29 | |
| Total liabilities and stockholders equity | 28 | 32 | 35 | 38 | 36 |
Consolidated Statement of Cash Flows
Year Ended · In millions, except per-share amounts
| Concept | Trend | FY 2025 2025-12-31 | FY 2024 2024-12-31 | FY 2023 2023-12-31 | FY 2022 2022-12-31 | FY 2021 2021-12-31 |
|---|---|---|---|---|---|---|
| Stock-based compensation | 942,000 | 1 | 908,000 | 435,000 | 315,000 | |
| Depreciation and amortization | 683,000 | 684,000 | 792,000 | 867,000 | 742,000 | |
| Provision for excess and obsolete inventory | — | 2 | 387,000 | — | — | |
| Provision (recovery) for bad debt | −18,000 | 13,000 | — | — | — | |
| Accounts receivable | −147,000 | −256,000 | 2 | −2 | −399,000 | |
| Contract assets | −1 | −622,000 | 566,000 | 368,000 | −2 | |
| Inventories | 365,000 | 646,000 | −2 | −1 | −101,000 | |
| Other assets | 530,000 | −150,000 | −47,000 | −301,000 | 220,000 | |
| Accounts payable | −37,000 | −524,000 | −154,000 | 293,000 | 343,000 | |
| Accrued expenses | −1 | 472,000 | −679,000 | 832,000 | 377,000 | |
| Contract liabilities | −2 | −2 | 866,000 | 2 | 864,000 | |
| Net cash used in operating activities | −4 | −1 | −206,000 | 194,000 | −4 | |
| Purchase of property and equipment | −48,000 | −106,000 | −418,000 | −665,000 | −236,000 | |
| Investment in captive insurance company | −51,000 | — | — | — | — | |
| Net proceeds from sales of equipment | — | 250,000 | 597,000 | — | — | |
| Net cash (used in) provided by investing activities | −99,000 | 144,000 | −133,000 | −708,000 | 23 | |
| Payments of long-term debt | −87,000 | −82,000 | −77,000 | −2 | −10 | |
| Net cash used in financing activities | −87,000 | −82,000 | −1,000 | −2 | −10 | |
| Net decrease in cash and cash equivalents | −4 | −1 | −340,000 | −2 | 9 | |
| Income taxes paid | 27,000 | 3,000 | 8,000 | 1,000 | — | |
| Interest paid | 13,000 | 19,000 | 24,000 | 8,000 | 261,000 | |
| Property, plant and equipment transferred to assets held for sale | 633,000 | — | — | — | — | |
| Inventory transferred to property, plant and equipment | 181,000 | 110,000 | — | — | — |
Filings
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