Note 11 - Segment Reporting

9 Months Ended

Sep. 27, 2025

Segment Reporting Disclosure [Text Block]

(11) Segment Reporting

The Company views its operations and manages its business as one segment. The Company produces and sells advanced material solutions, primarily metal matrix composites, to assemblers of high density electronics and other specialty components and subassemblies. The Company also assembles housings and packages for hybrid circuits, selling to the same customers mentioned above. These customers represent a single market or segment with similar stringent and well-defined requirements. The Company’s customers, in turn, sell the components and subassemblies which incorporate the products into many different end markets, however, these end markets are two to three levels removed from the Company. The Company also sells armor strike faces to armor manufacturers, using the same manufacturing process used in its other product solutions. The Company makes operating decisions and assesses financial performance only for the Company as a whole and does not make operating decisions or assess financial performance by the end markets which ultimately use the products. Our chief operating decision maker (CODM) is Brian Mackey, our President and CEO. The Company's CODM regularly reviews financial information presented and does not evaluate the Company's operating segment using asset or liability information. Instead, the CODM uses revenue, gross margin, and net income or loss to allocate operating and capital resources and assess performance by comparing actual results to historical results and previously forecasted financial information.

The following table presents segment information for the Company's single reporting segment:

	Three Months Ended					Nine Months Ended
	September 27, 2025		September 28, 2024			September 27, 2025		September 28, 2024
Product Sales	$	8,803,695	$	4,247,116		$	24,388,272	$	15,190,063

Cost of product sales		7,301,129		4,770,548			20,318,390		15,037,177
Gross profit (loss)		1,502,566		(523,432	)		4,069,882		152,886

Selling, general, and administrative expenses		1,226,484		963,064			3,527,223		3,214,831
Income (loss) from operations		276,082		(1,486,496	)		542,659		(3,061,945	)

Other income, net		45,483		70,974			114,985		241,845
Income (loss) before income taxes		321,565		(1,415,522	)		657,644		(2,820,100	)
Income tax provision (benefit)		113,601		(372,683	)		249,885		(679,803	)
Net income (loss)	$	207,964	$	(1,042,839	)	$	407,759	$	(2,140,297	)

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

CPS TECHNOLOGIES CORP/DE/ 10-Q