UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒	Quarterly Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the period ended ~~September~~March 2728, ~~2025~~2026

☐	Transition Report Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934

For the transition period from to

Commission file number 0-16088

CPS TECHNOLOGIES CORP.

(Exact Name of Registrant as Specified in its Charter)

Delaware (State or Other Jurisdiction of Incorporation or Organization)	04-2832509 (I.R.S. Employer Identification No.)

111 South Worcester Street Norton MA (Address of principal executive offices)	02766-2102 (Zip Code)

(508) 222-0614 ~~Registrant’s Telephone Number, including Area Code:~~

~~CPS~~Registrant’s ~~Technologies~~Telephone ~~Corp.~~Number, including Area Code:

CPS TECHNOLOGIES CORP.

111 South Worcester Street

Norton, MA 02766-2102

Former Name, Former Address and Former Fiscal Year if Changed since Last Report

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period than the registrant was required to file such reports), and (2) has been subject to the filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically and posted on its corporate web site, if any, every Interactive Data File required to be submitted and posted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit and post such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer or a non-accelerated filer or a smaller reporting company, or an emerging growth company. See definition of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company”” in Rule 12b-2 of the Exchange Act.

Large accelerated filer ☐ Accelerated filer ☐ Non-accelerated filer ☒ Smaller reporting company ☒ ~~Emerging growth company ☐~~

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of its internal control over financial reporting under Section 404(b) of the Sarbanes-Oxley Act (~~15U~~15 U.S.C. 7262(b)) by the registered public accounting firm that prepared or issued its audit report. Yes ☐ No ☒

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act): ☐ Yes ☒ No

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Act):

☐Yes ☒ No

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock, $0.01 par value	CPSH	~~NASDAQ~~Nasdaq Capital ~~Markets~~Market

APPLICABLE ONLY TO CORPORATE ISSUERS:

Indicate the number of shares outstanding of each of the issuer’s classes of common stock, as of the latest practicable date. Number of shares of common stock outstanding as of ~~October~~April 2028, ~~2025~~2026: 1718,~~979~~006,~~277~~963.

PART I FINANCIAL INFORMATION

ITEM 1 FINANCIAL STATEMENTS (Unaudited)

CPS TECHNOLOGIES CORP.

Condensed Balance Sheets (Unaudited)

	September 27, 2025			December 28, 2024
	March 28, 2026			December 27, 2025
ASSETS
Current assets:
Cash and cash equivalents	$	35,~~234~~724,~~142~~339		$	34,~~280~~466,~~687~~198
Marketable securities, at fair value		16,~~054~~797,~~079~~952			18,~~031~~769,~~001~~363
Accounts receivable-trade		53,~~400~~779,~~080~~089			45,~~858~~235,~~208~~307
Accounts receivable-other		~~376~~201,~~652~~013			~~177~~380,~~068~~948
Inventories, net		57,~~383~~143,~~680~~727			45,~~331~~598,~~066~~407
Prepaid expenses and other current assets		~~328~~331,~~249~~411			~~480~~299,~~986~~829
Total current assets		1523,~~776~~977,~~882~~531			1424,~~159~~750,~~016~~052
Property and equipment:
Production equipment		10,~~599~~528,~~479~~773			10,~~382~~647,~~379~~170
Furniture and office equipment		910,310			~~891~~910,~~921~~310
Leasehold improvements		997,830			997,830
Total cost		12,~~507~~436,~~619~~913			12,~~272~~555,~~130~~310
Accumulated depreciation and amortization		(10,~~737~~801,~~391~~044	)		(10,~~377~~877,~~756~~927	)
Construction in progress		~~216~~828,~~193~~107			~~108~~459,~~874~~671
Net property and equipment		12,~~986~~463,~~421~~976			2,~~003~~137,~~248~~054
Net intangible assets		2320,~~746~~794			-21,778
Right-of-use lease asset		~~370~~300,000			~~186~~336,000
Deferred taxes, net		2,~~279~~349,~~253~~560			2,~~528~~266,~~682~~854
Total Assets	$	2029,~~436~~111,~~302~~861			1829,~~876~~511,~~946~~738
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion		-			8,130
Accounts payable		3,337,589			3,363,233
Accounts payable		3,530,052			3,053,712
Accrued expenses		577,219			907,910
Accrued expenses		1,298,268			913,279
Deferred revenue		450,579			238,044
Deferred revenue		74,257			172,429
Lease liability, current portion		163,000			162,000
Lease liability, current portion		161,000			160,000
Total current liabilities		4,528,387			4,671,187
Total current liabilities		5,063,577			4,307,550
Deferred revenue – long term		31,277			31,277
Long term lease liability		~~209~~137,000			26174,000
Total liabilities		54,~~303~~696,~~854~~664			4,~~364~~876,~~827~~464
Commitments & Contingencies
Stockholders’ equity:
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 14,666,987 and 14,661,487 shares; outstanding 14,529,277 and 14,525,960 shares at September 27, 2025 and December 28, 2024, respectively		146,670			146,615
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 18,151,767 and 18,132,767 shares; outstanding 18,006,963 and 17,988,634 shares at each March 28, 2026 and December 27, 2025		181,510			181,320
Additional paid-in capital		40,809,151			40,580,387
Preferred stock, no shares issued or outstanding		–			–
Accumulated other comprehensive income		7,176			15,500
Additional paid-in capital		50,377,081			50,295,019
Accumulated deficit		(25,482,486	)		(25,890,245	)
Accumulated other comprehensive income (loss)		(4,618	)		139
Less cost of 137,710 and 135,527 common shares repurchased at each September 27, 2025 and December 28, 2024, respectively		(348,063	)		(340,138	)
Accumulated deficit		(25,764,070	)		(25,469,891	)
Total stockholders’ equity		15,132,448			14,512,119
Less cost of 144,804 and 144,133 common shares repurchased at each March 28, 2026 and December 27, 2025		(374,706	)		(371,313	)
Total liabilities and stockholders’ equity	$	20,436,302		$	18,876,946
Total stockholders’ equity		24,415,197			24,635,274
Total liabilities and stockholders’ equity	$	29,111,861		$	29,511,738

See accompanying notes to condensed financial statements.

CPS TECHNOLOGIES CORP.

Condensed Statements of Operations and Other Comprehensive Income (Loss) ~~(Unaudited)~~

	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		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
Net 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	)
Other comprehensive income
Net unrealized gains (losses) on available for sale securities		(2,293	)		8,745			7,913			17,446
Reclassification adjustment for gains included in net income		-			-			(16,237	)		-
Total other comprehensive income (loss)		(2,293	)		8,745			(8,324	)		17,446
Comprehensive income (loss)		205,671			(1,034,094	)		399,435			(2,122,851	)
Net income (loss) per basic common share	$	0.01		$	(0.07	)	$	0.03		$	(0.15	)
Weighted average number of basic common shares outstanding		14,527,126			14,525,664			14,526,349			14,521,365
Net income (loss) per diluted common share	$	0.01		$	(0.07	)	$	0.03		$	(0.15	)
Weighted average number of diluted common shares outstanding		14,674,384			14,525,664			14,598,576			14,521,365

(Unaudited)

See accompanying notes to financial statements.

	Fiscal Quarters Ended
	March 28, 2026			March 29, 2025

Product sales	$	7,028,748		$	7,505,921

Cost of product sales		6,421,870			6,274,920

Gross profit		606,878			1,231,001
Selling, general, and administrative expenses		1,129,512			1,101,350

Operating income (loss)		(522,634	)		129,651
Other income, net		146,205			50,476

Income (loss) before income taxes		(376,429	)		180,127
Income tax provision (benefit)		(82,250	)		84,165

Net income (loss)	$	(294,179	)	$	95,962
Other comprehensive income
Net unrealized gains (losses) on available for sale securities		(4,757	)		2,037
Reclassification adjustment for gains included in net income		-			(16,237	)
Total other comprehensive income		(4,757	)		(14,200	)
Comprehensive income (loss)		(298,936	)		81,762

Net income (loss) per basic common share	$	(0.02	)	$	0.01

Weighted average number of basic common shares outstanding		17,997,088			14,525,960

Net income (loss) per diluted common share	$	(0.02	)	$	0.01

Weighted average number of diluted common shares outstanding		17,997,088			14,543,911

~~CPS~~See ~~TECHNOLOGIES~~accompanying ~~CORP. STATEMENTS~~notes OFto ~~STOCKHOLDERS’~~condensed ~~EQUITY~~financial ~~(UNAUDITED) FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 27, 2025 AND SEPTEMBER 28, 2024~~statements.

	Common Stock
	Number of shares issued		Par Value		Additional paid-in capital		Accumulated other comprehensive income			Accumulated deficit			Stock repurchased			Total stockholders’ equity
Balance at June 28, 2025		14,661,487	$	146,615	$	40,751,927	$	9,469		$	(25,690,450	)	$	(340,138	)	$	14,877,423
Share-based compensation expense		--		--		49,354		--			--			--			49,354
Employee option exercises		5,500		55		7,870		--			--			(7,925	)		--
Other comprehensive loss		--		--		--		(2,293	)		--			--			(2,293	)
Net income		--		--		--		--			207,964			--			207,964
Balance at September 27, 2025		14,666,987	$	146,670	$	40,809,151	$	7,176		$	(25,482,486	)	$	(348,063	)	$	15,132,448

CPS TECHNOLOGIES CORP.
CONDENSED STATEMENTS OF STOCKHOLDERS’ EQUITY (UNAUDITED)
FOR THE THREE MONTHS ENDED MARCH 28, 2026 AND MARCH 29, 2025

	Common Stock
	Number of shares issued		Par Value		Additional paid-in capital		Accumulated ~~other comprehensive income~~deficit			Accumulated ~~deficit~~other comprehensive income (loss)			Stock repurchased			Total stockholders’ equity
Balance at December 28, 2024		14,661,487	$	146,615	$	40,580,387	$	15,500		$	(25,890,245	)	$	(340,138	)	$	14,512,119
Balance at December 27, 2025		18,132,767	$	181,320	$	50,295,019	$	(25,469,891	)	$	139		$	(371,313	)	$	24,635,274
Share-based compensation expense		--—		--—		~~220~~48,~~894~~249		--—			--—			--—			~~220~~48,~~894~~249
Employee option exercises		5,500		55		7,870		--			--			(7,925	)		--
Net unrealized gains on available for sale securities		—		—		—		—			(4,757	)		—			(4,757	)
Net unrealized gains on available for sale securities		--		--		--		7,913			--			--			7,913
Employee option exercises		19,000		190		33,813								(3,393	)		30,610
Reclassification adjustment for gains included in net income		--		--		--		(16,237	)		--			--			(16,237	)
Net loss		—		—		—		(294,179	)		—			—			(294,179	)
Net income		--		--		--		--			407,759			--			407,759
Balance at March 28, 2026		18,151,767	$	181,510	$	50,377,081	$	(25,764,070	)	$	(4,618	)	$	(374,706	)	$	24,415,197
Balance at September 27, 2025		14,666,987	$	146,670	$	40,809,151	$	7,176		$	(25,482,486	)	$	(348,063	)	$	15,132,448
Balance at December 28, 2024		14,661,487	$	146,615	$	40,580,387	$	(25,890,245	)		15,500		$	(340,138	)	$	14,512,119
Share-based compensation expense		—		—		122,186		—			—			—			122,186
Net unrealized gains on available for sale securities		—		—		—		—			2,037			—			2,037
Reclassification adjustment for gains included in net income		—		—		—		—			(16,237	)		—			(16,237	)
Net income		—		—		—		95,962			—			—			95,962
Balance at March 29,2025		14,661,487		146,615	$	40,702,573	$	(25,794,283	)		1,300		$	(340,138	)	$	14,716,067

	Common Stock
	Number of shares issued		Par Value		Additional paid-in capital		Accumulated other comprehensive income		Accumulated deficit			Stock repurchased			Total stockholders’ equity
Balance at June 29, 2024		14,601,487	$	146,015	$	40,386,335	$	8,701	$	(23,852,254	)	$	(250,138	)	$	16,438,659
Share-based compensation expense		--		--		44,480		--		--			--			44,480
Employee option exercises		60,000		600		89,400		--		--			(90,000	)		--
Other comprehensive income		--		--		--		8,745		--			--			8,745
Net loss		--		--		--		--		(1,042,839	)		--			(1,042,839	)
Balance at September 28, 2024		14,661,487	$	146,615	$	40,520,215	$	17,446	$	(24,895,093	)	$	(340,138	)	$	15,449,045

See accompanying notes to condensed financial statements.

	Common Stock
	Number of shares issued		Par Value		Additional paid-in capital		Accumulated other comprehensive income		Accumulated deficit			Stock repurchased			Total stockholders’ equity
Balance at December 30, 2023		14,601,487	$	146,015	$	40,180,893	$	--	$	(22,754,796	)	$	(250,138	)	$	17,321,974
Share-based compensation expense		--		--		249,922		--		--			--			249,922
Employee option exercises		60,000		600		89,400		--		--			(90,000	)		--
Other comprehensive income		--		--		--		17,446		--			--			17,446
Net loss		--		--		--		--		(2,140,297	)		--			(2,140,297	)
Balance at September 28, 2024		14,661,487	$	146,615	$	40,520,215	$	17,446	$	(24,895,093	)	$	(340,138	)	$	15,449,045

See accompanying notes to financial statements.

CPS TECHNOLOGIES CORP.

Condensed Statements of Cash Flows (Unaudited)

	Nine Months Ended
	Fiscal Quarters Ended
	September 27,			September 28,
	March 28, 2026			March 29, 2025
	2025			2024
Cash flows from operating activities:
Net income (loss)	$	~~407~~(294,~~759~~179	)	$	(295,~~140,297~~962	)
Adjustments to reconcile net income (loss) to cash provided by (used in) operating activities:
Adjustments to reconcile net income (loss) to cash (used in) operating activities:
Depreciation and amortization		~~458~~151,~~478~~198			~~369~~164,~~698~~738
Share-based compensation		~~220~~48,~~894~~249			~~249~~122,~~922~~186
Realized gain on sale of marketable securities		(11,470	)		--
Deferred taxes		(82,706	)		83,709
Deferred taxes		249,429			(680,259	)
Realized gain on sale of marketable securities		(29,970	)		(26,068	)
Changes in:
Accounts receivable-trade		(541,872	)		734,606
Accounts receivable - trade		1,456,218			(1,444,442	)
Accounts receivable-other		(199,584	)		(279,122	)
Accounts receivable - other		179,935			(33,407	)
Inventories		(1,~~052~~545,~~615~~320	)		~~148~~(481,~~518~~767	)
Prepaid expenses and other current assets		~~152~~(31,~~736~~582	)		~~(145~~91,~~063~~222	)
Accounts payable		~~476~~(25,~~340~~644	)		~~(38~~81,~~030~~840	)
Accrued expenses		~~384~~(330,~~991~~691	)		~~(234~~157,~~379~~653	)
Deferred revenue		~~(98~~212,~~171~~535	)		(9164,~~343~~349	)
Net cash provided by (used in) operating activities		446,915			(2,105,749	)
Net cash (used in) operating activities		(291,957	)		(1,252,723	)
Cash flows from investing activities-
Cash flows from investing activities:
Purchases of property and equipment		(~~439~~475,~~492~~836	)		(~~895~~93,~~868~~070	)
Acquisition cost of patents and trademarks		(251,~~905~~300	)		--
Proceeds from sale of marketable securities		15,~~027~~257,000			--518,000
Purchase of marketable securities		(1,046,933	)		(1,003,506	)
Purchases of marketable securities		(3,260,376	)		(514,845	)
Net cash used in investing activities		(485,330	)		(1,899,374	)
Net cash provided by (used in) investing activities		1,519,488			(89,915	)
Cash flows from financing activities:
Payments on note payable		(8,130	)		(34,784	)
Proceeds from employee stock options		30,610			-
Net cash used in financing activities		(8,130	)		(34,784	)
Payments on note payable		-			(8,130	)
Net decrease in cash and cash equivalents		(46,545	)		(4,039,907	)
Net cash provided by (used in) financing activities		30,610			(8,130	)
Cash and cash equivalents at beginning of period		3,280,687			8,813,626
Net increase (decrease) in cash and cash equivalents		1,258,141			(1,350,768	)
Cash and cash equivalents and restricted cash at end of period	$	3,234,142		$	4,773,719
Cash and cash equivalents at beginning of period		4,466,198			3,280,687
Less: Restricted cash at end of period		--			84,715
Cash and cash equivalents at end of period	$	5,724,339		$	1,929,919
Cash and cash equivalents at end of period		3,234,142		$	4,689,004
Supplemental disclosures of cash flows information:
Cash paid for income taxes		--			432
Cash paid for interest	$	-		$	26
Cash paid for interest		26			1,917
Net exercise of stock options	$	3,393		$	-
Supplemental disclosures of non-cash activity
Disposal of fully depreciated production equipment		96,684			1,896,631
Share repurchases as a reduction of stock option exercise proceeds		7,925			90,000

See accompanying notes to condensed financial statements.

CPS TECHNOLOGIES CORP. ~~Notes to Financial Statements (Unaudited)~~

Notes to Condensed Financial Statements

(Unaudited)

(1) Nature of Business

CPS Technologies Corporation (the “Company” or “CPS”) provides advanced material solutions to the electronics, power generation, automotive, ~~defense~~ and other industries. The Company’s primary advanced material solution is metal-matrix composites (“"MMC”") which are a combination of metal and ceramic.

CPS also assembles housings and packages for hybrid circuits. These housings and packages may include components made of metal-matrix composites or they may include components made of more traditional materials such as aluminum, copper-tungsten, etc.

Using its proprietary MMC technology, the Company also produces light-weight armor, particularly for extreme environments and heavy threat levels.

The Company also engages in research and development, in some cases government funded and in others internally funded, focused on developing new products in response to customer requirements. These products expand our offerings in existing markets and enable penetration into new markets.

The Company sells into several end markets including the wireless communications infrastructure market, high-performance microprocessor market, motor controller market, and other microelectronic and defense markets.

(2) Summary of Significant Accounting Policies

As permitted by the rules of the Securities and Exchange Commission applicable to quarterly reports on Form 10-Q, these notes are condensed and do not contain all disclosures required by generally accepted accounting principles and should be read in conjunction with the audited financial statements and related notes included in the 2025 Annual Report.

The accompanying financial statements are unaudited. In the opinion of management, the unaudited financial statements of CPS reflect all normal recurring adjustments which are necessary to present fairly the financial position and results of operations for such periods.

The Company’s balance sheet at December 2827, ~~2024~~2025 has been derived from the audited financial statements at that date, but does not include all of the information and footnotes required by accounting principles generally accepted in the United States of America for complete financial statements.

For further information, refer to the financial statements and footnotes thereto included in the Registrant’s Annual Report on Form 10-K for the year ended December 2827, ~~2024~~2025 and in CPS’s other SEC reports, which are accessible on the SEC’s website at www.sec.gov and the Company’s website at www.cpstechnologysolutions.com.

The results of operations for interim periods are not necessarily indicative of the results to be expected for the full year.

(3) ~~Marketable~~ ~~Securities~~Future Application of Accounting Standards

Disaggregation of Income Statement Expenses

In November 2024, the FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40) ("ASU 2024-03"). The standard requires certain details for expenses presented on the face of the Statements of Operations and Comprehensive Income (Loss) as well as selling expenses to be presented in the notes to the financial statements on an interim and annual basis. The provisions of the standard are effective for public companies for fiscal years beginning after December 15, 2026, and interim periods within fiscal years beginning after December 31, 2027. The amendment can be applied either prospectively or retrospectively, with early adoption permitted. The Company is currently assessing the impact of this standard.

(4) Use of Estimates

The preparation of the Condensed Financial Statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the amounts reported in the financial statements and accompanying notes. Actual results could differ from those estimates.

(5) Marketable Securities

Investments consist of U.S. Treasury Bills with maturities up to one year. Since it is not currently managements intention to hold these debt securities until the maturity dates, these have been classified as available-for-sale (“AFS”) and are recorded on the balance sheet at fair value, with changes in fair value recorded as a component of other comprehensive income.

(46) Fair value of Marketable Securities

ASC 820, Fair Value Measurements (“ASC 820”) states that fair value is an exit price, representing the amount that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or a liability. The three-tiered fair value hierarchy, which prioritizes which inputs should be used in measuring fair value, is comprised of: (Level I) observable inputs such as quoted prices in active markets; (Level II) inputs other than quoted prices in active markets that are observable either directly or indirectly and (Level III) unobservable inputs for which there is little or no market data. The fair value hierarchy requires the use of observable market data when available in determining fair value. CPS’ marketable securities consist solely of US Government bonds and treasury bills with a maturity of 12 months or less and which fall under Level II of the fair value hierarchy. The value of these ~~bonds~~securities as of ~~September~~March 2728, ~~2025~~2026 was $16,~~054~~797,~~079~~ 952 and ~~was $1~~,~~031,001~~ as of December 2827, ~~2024~~2025, was $8,769,363.

	September 27, 2025			December 28, 2024
	March 28, 2026			December 27, 2025
Cost basis	$	16,~~046~~802,~~903~~570		$	18,~~015~~769,~~501~~502
Unrealized gain		7,176			15,500
Unrealized gain (loss)	$	(4,618	)		139
Total fair value	$	16,~~054~~797,~~079~~952		$	18,~~031~~769,~~001~~363

(57) Net Income (Loss) Per Common and Common Equivalent Share

Basic net income (loss) per common share is calculated by dividing net income (loss) by the weighted average number of common shares outstanding during the period. Diluted net income (loss) per common share is calculated by dividing net income (loss) by the sum of the weighted average number of common shares plus additional common shares that would have been outstanding if potential dilutive common shares had been issued for granted stock options and stock purchase rights. Had there been a profit in Q1 2026, the dilutive effect would have been 364,994 shares. Common stock equivalents are excluded from the diluted calculations when a net loss is incurred as they would be anti-dilutive. ~~Had there been a profit in Q3 and year to date in 2024, the dilutive effect would have been 41,471 shares and 25,905 shares, respectively.~~

The following table presents the calculation of both basic and diluted EPS:

	Three Months Ended						~~Nine Months Ended~~
	September 27, 2025			September 28, 2024			September 27, 2025		September 28, 2024
	March 28, 2026			March 29, 2025
Basic EPS Computation:
Numerator:
Net income (loss)	$	~~207~~(294,~~964~~179	)	$	(195,~~042,839~~962	)	$	~~407,759~~	$	~~(2,140,297~~	)
Denominator:
Weighted average
Weighted average common shares outstanding		17,997,088			14,525,960
Common shares
Basic EPS	$	(0.02	)	$	0.01
Outstanding		14,527,126			14,525,664			14,526,349		14,521,365
Diluted EPS Computation:
Basic EPS	$	0.01		$	(0.07	)	$	0.03	$	(0.15	)
Numerator:
Diluted EPS Computation:
Net income (loss)	$	(294,179	)	$	95,962
Numerator:
Denominator:
Net income (loss)	$	207,964		$	(1,042,839	)	$	407,759	$	(2,140,297	)
Weighted average common shares outstanding		17,997,088			14,525,960
Denominator:
Dilutive effect of stock options		-			17,951
Weighted average
Total Shares		17,997,088			14,543,911
Common shares
Diluted EPS	$	(0.02	)	$	0.01
Outstanding		14,527,126			14,525,664			14,526,349		14,521,365
Dilutive effect of stock options		147,257			--			72,227		--
Total Shares		14,674,384			14,525,664			14,598,576		14,521,365
Diluted EPS	$	0.01		$	(0.07	)	$	0.03	$	(0.15	)

(68) Commitments & Contingencies

Commitments

Operating Leases

The Company has one real estate lease ~~now~~ expiring in February 2028. ~~In August 2025 the Company exercised its option to extend the lease term for two additional years.~~ CPS also has a few other leases for equipment which are minor in nature and are generally short-term in duration. None of these equipment leases have been capitalized as the Company elected an accounting policy for short-term leases, which allows lessees to avoid recognizing right-of-use assets and liabilities for leases with terms of 12 months or fewer.

The real estate lease expiring in 2028 (the “Norton facility lease”) is included as a right-of-use lease asset and corresponding lease liability (current and noncurrent portions) on the balance sheet. This asset and liability was recognized based on the present value of lease payments over the lease term using the Company’s incremental borrowing rate at commencement date~~, for the portion expiring in February 2026, and the option exercise date, for the final two years of the lease~~. The Company’s lease agreements do not contain any material residual value guarantees or material restrictive covenants.

The Norton facility lease comprises approximately 38 thousand square feet. The lease is triple net lease wherein the Company is responsible for payment of all real estate taxes, operating costs and utilities. The Company also has ~~two,~~an ~~two~~option ~~year options~~ to renew the lease starting in March 2028 ~~and again in March 2030~~ through February 2032. The Company is not reasonably certain these extensions will be exercised at this time, and therefore are not included in the lease asset or liability. Annual rental payments range from $~~165~~152 thousand to $~~169~~165 thousand through maturity.

The following table presents information about the amount, timing and uncertainty of cash flows arising from the Company’s capitalized operating ~~lease~~leases as of ~~September~~March 2728, ~~2025:~~2026

(Dollars in Thousands)	~~September 27, 2025~~
Maturity of capitalized lease liabilities	Lease payments
2025		41
Remaining 2026		126
2026		168
2027		169
2028		28
Total undiscounted operating lease payments	$	~~406~~323
Less: Imputed interest		(3623	)
Present value of operating lease liability	$	~~370~~300
Balance Sheet Classification
Current lease liability	$	~~161~~163
Long-term lease liability		~~209~~137
Total operating lease liability	$	~~370~~300
Other Information
Remaining lease term for capitalized operating lease (months)		29
Weighted-average remaining lease term for capitalized operating leases (in months)		23
Discount rate for capitalized operating leases		7.3	%
Weighted-average discount rate for capitalized operating leases		7.3	%

Operating Lease Costs and Cash Flows

Operating lease cost and cash paid was $4142 thousand during the ~~third~~first quarter of ~~2025 and $124 thousand for the nine months ended September 27, 2025~~2026. ~~These~~This ~~costs~~cost ~~are~~is related to its long-term operating lease. All other short-term leases were immaterial.

Finance Leases

The ~~company~~Company does not have any finance leases.

(79) Share-Based Payments

The Company measures the cost of employee services received in exchange for an award of equity instruments based on the grant date fair value of the award. That cost is recognized over the period during which an employee is required to provide services in exchange for the award, the requisite service period (usually the vesting period). The Company provides an estimate of forfeitures at initial grant date. Reductions in compensation expense associated with the forfeited options are estimated at the date of grant, and this estimated forfeiture rate is adjusted periodically based on actual forfeiture experience. The Company uses the Black-Scholes option pricing model to determine the fair value of the stock options granted.

During the ~~quarter~~quarters ended ~~September~~March 2728, ~~2025,~~2026 ~~no stock options were granted to employees under the Company’s 2020 Equity Incentive Plan Stock Incentive Plan (the “Plan”)~~ and noMarch ~~stock options were granted to outside directors during the quarter ended September 27~~29, 2025~~. For the nine months ended September 27~~, ~~2025~~ a total of ~~115,000~~0 ~~stock options~~ and 75115,000 stock options ~~were granted to employees and directors~~, respectively~~. During the quarter ended September 28~~, ~~2024, no stock options~~ were granted to employees under the Company’s 2020 Equity Incentive Plan ~~Stock Incentive Plan~~ (the “Plan”) and noa total of 0 and 75,000 stock options, respectively, were granted to outside directors during the ~~quarter~~quarters ended ~~September~~March 28, ~~2024.~~2026 ~~For the nine months ended September 28, 2024 a total of 135,500 stock options~~ and ~~75,000~~March ~~stock options were granted to employees and directors~~29, ~~respectively~~2025.

During the ~~three~~quarters ~~and nine months~~ ended ~~September~~March 2728, ~~2025,~~2026 ~~there were 5,500 options exercised~~ and ~~corresponding~~March ~~shares issued at a weighted average price of $1.44. During the three and nine months ended September 28~~29, ~~2024~~2025, there were 6019,000 ~~options exercised~~ and ~~corresponding~~0 ~~shares~~options ~~issued~~exercised, ~~at a weighted average price of $1~~respectively.~~50.~~

During the ~~three~~quarters ~~and nine months~~ ended ~~September~~March 2728, ~~2025,~~2026 ~~the~~and ~~Company~~March ~~repurchased~~29, 22025,~~183~~ ~~shares~~there ~~for~~were ~~employees~~0 toand ~~facilitate~~45,000 ~~their exercise of stock~~ options. ~~During~~expired ~~the three~~ and ~~nine months ended September 28~~2,750 ~~2024,~~and ~~the~~0 ~~Company~~options ~~repurchased 53~~forfeited,~~255~~ ~~shares for employees to facilitate their exercise of stock options~~respectively.

~~There~~During ~~were~~the ~~also~~quarters ~~1,077,800~~ended ~~options~~March ~~outstanding at a weighted average price of $2.45 with a weighted average remaining term of 7.13 years as of September 27~~28, ~~2025,~~2026 and ~~there~~March ~~were 635~~29,~~500~~ ~~options exercisable at a weighted average price of $2.45 with a weighted average remaining term of 6.37 years as of September 27,~~ 2025~~. The Plan~~, asthe ~~amended,~~Company isrepurchased ~~authorized~~671 toand ~~issue~~0 ~~1,500,000~~ shares ~~of common stock. As of September 27~~, ~~2025, there were 421,400 shares available~~ respectively for ~~future~~employees ~~grants~~to ~~under~~facilitate ~~the~~their ~~2020~~exercise ~~Plan and 138,900 shares outstanding under the 2009 Plan. As~~ of ~~September~~stock ~~28, 2024, there were 626,400 shares available for future grants under the 2020 Plan and 248,400 shares outstanding under the 2009 Plan~~options.

AsThere ofwere ~~September~~also 271,046,050 ~~2025~~options outstanding at a weighted average price of $2.49 with a weighted average remaining contractual term of 6.8 years as of March 28, 2026 and there ~~was~~were 680,475 shares exercisable at a weighted average price of $~~509~~2.47 ~~thousand~~with a weighted average remaining term of ~~total~~6.3 ~~unrecognized~~years. There ~~compensation~~were ~~cost~~1,083,300 ~~related~~options tooutstanding ~~nonvested~~at ~~share-based~~a ~~compensation~~weighted ~~arrangements~~average ~~granted~~price ~~under~~of ~~the~~$2.45 ~~Plan;~~with ~~that~~a ~~cost~~weighted isaverage ~~expected~~remaining tocontractual beterm ~~recognized~~of ~~over~~7.6 years as of March 29, 2025 and there were 581,900 shares exercisable at a weighted average ~~period~~price of $2.6837 with a weighted average remaining term of 6.7 years. The Plan, as amended, is authorized to issue 1,500,000 shares of common stock. As of March 28, 2026, there were 418,370 shares available for future grants.

~~During~~As ~~the~~of ~~three~~March ~~and~~28, ~~nine~~2026, ~~months~~there ~~ended~~was ~~September~~$418 ~~27,~~thousand ~~2025,~~of ~~the~~total ~~Company~~unrecognized ~~recognized~~compensation ~~$49,354~~cost ~~and~~related ~~$220,894,~~to ~~respectively,~~nonvested ~~as shared~~share-based compensation ~~expense~~arrangements ~~related~~granted under the Plan; that cost is expected to ~~previously~~be ~~granted~~recognized ~~shares~~over ~~under~~a ~~the~~weighted ~~Plan~~average period of 1.81 years.

During the ~~three~~quarters ~~and~~ended ~~nine~~March ~~months~~28, ~~ended~~2026 ~~September~~and 28March 29, ~~2024~~2025, the Company recognized approximately $~~44,480~~48 thousand and $~~249~~122 thousand,~~922,~~ respectively, as shared-based compensation expense related to previously granted shares under the Plan.

(810) Inventories

Inventories consist of the following:

	September 27,			December 28,
	March 28, 2026			December 27, 2025
	2025			2024
Raw materials	$	2,984,878		$	2,559,787
Raw materials	$	2,422,339		$	2,625,305
Work in process		4,571,335			3,449,211
Work in process		3,175,806			1,880,396
Finished goods		310,920			278,770
Finished goods		328,395			343,722
Gross inventory		7,867,133			6,287,768
Total inventory		5,926,541			4,849,423
Reserve for obsolescence		(723,406	)		(689,361	)
Reserve for obsolescence		(542,860	)		(518,357	)
Inventories, net	$	7,143,727		$	5,598,407
Inventories, net	$	5,383,680		$	4,331,066

(911) Accrued Expenses

Accrued expenses consist of the following:

	September 27,		December 28,
	March 28, 2026		December 27, 2025
	2025		2024
Accrued legal and accounting	$	68,145	$	101,605
Accrued legal and accounting	$	96,450	$	138,600
Accrued payroll and related expenses		408,373		683,631
Accrued payroll and related expenses		635,051		254,737
Accrued other		100,701		122,674
Accrued product returns		465,696		429,617
Total Accrued Expenses	$	577,219	$	907,910
Accrued other		101,071		90,325
	$	1,298,268	$	913,279

(1012) Revolving Line of Credit

~~The~~In ~~Company~~May ~~has~~2023, athe ~~$3.0~~Company ~~million~~entered ~~revolving~~into a line of credit (LOC) in the amount of $3.0 million with Rockland Trust Company. The LOC is secured by the accounts receivable and other assets of the Company and has an interest rate of the National Prime Rate as published by the Wall Street Journal (76.2575% at ~~September~~March 2728, ~~2025~~2026). On ~~September~~March 2728, 2026 and March 29, 2025, the Company had $0 of borrowings under this LOC and its borrowing base at the time would have permitted an additional $2.7 million and $3.0 million, respectively, to have been borrowed. The ~~line~~LOC ~~of credit~~ remains in effect ~~and~~until ~~has~~terminated ~~been~~per ~~extended~~mutual toagreement ~~August~~by 5,both parties. Total interest expense for Q1 2026 was $0 and was $0 for Q1 2025.

(1113) Income ~~Segment Reporting~~Taxes

~~The~~A ~~Company~~valuation ~~views~~allowance ~~its~~against ~~operations~~deferred ~~and~~tax ~~manages~~assets ~~its~~is ~~business~~required ~~as one segment. The Company produces and sells advanced material solutions, primarily metal matrix composites,~~ to ~~assemblers~~be ofestablished 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~~maintained ~~with~~when ~~similar~~it ~~stringent~~is ~~and~~"more ~~well-defined~~likely ~~requirements.~~than 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~~that ~~operating~~all ~~decisions~~ or ~~assess~~a ~~financial~~portion ~~performance~~of bydeferred ~~the~~tax ~~end~~assets ~~markets~~will ~~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~~be ~~the Company's operating segment using asset or liability information~~realized. 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~~Company ~~table~~believes ~~presents~~that ~~segment~~it ~~information~~is ~~for~~“more likely than not” that the Company's ~~single~~will ~~reporting~~be ~~segment:~~able to fully utilize the deferred tax asset. For the first quarter of 2026 the deferred tax asset was increased $84 for the estimated tax benefit on Q1 net operating loss.

	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	)

(14) Enactment of the One Big Beautiful Bill Act

(12) Income Taxes

A valuation allowance against deferred tax assets is required to be established or maintained when it is "more likely than not" that all or a portion of deferred tax assets will not be realized. Management has determined that a valuation allowance is not needed as it expects that the deferred tax asset will be fully utilized.

For the three and nine months ended September 27, 2025 the deferred tax asset was decreased $113,601 and $249,429 for the estimated tax provision for Q3 and year to date net income, respectively.

(13) Enactment of the One Big Beautiful Bill Act

On July 4, 2025, the President signed into law the One Big Beautiful Bill Act (Public Law 119-21), which includes significant modifications to the Internal Revenue Code. The legislation permanently extends and modifies key provisions of the Tax Cuts and Jobs Act of 2017 and introduces new deductions and credits applicable to both individuals and businesses.

Key provisions relevant to the Company include:

Restoration of Immediate Expensing for Domestic Research and Experimental (“R&E”) Expenditures: Effective for tax years beginning after December 31, 2024, domestic R&E expenditures may be immediately expensed under new Section 174A, reversing the prior capitalization and amortization requirement. This change may materially impact the Company’s deferred tax assets and current tax expense depending on the volume of qualifying expenditures.

~~During~~In Q3Q1 2026 the Company expensed $216,914 and in 2025, the Company expensed $~~899~~867,~~728~~657 of unamortized Section 174 R&E expenditures.

It is anticipated that the unamortized Section 174 R&E expenditures at ~~Q2 2025~~ Q1 2026 will be expensed as follows (subject to further analyses and discussions):

	2025			2026		Total		Rationale
Q2 2026		216,914	Expense 12.5% of 2022-2024
Q4 2025		187,193			-		187,193	Expense 12.5% of 2022-2024
Q3 2026		216,914	Expense 12.5% of 2022-2024
Q1 2026		-			187,193		187,193	Expense 12.5% of 2022-2024
Q4 2026		216,914	Expense 12.5% of 2022-2024
Q2 2026		-			187,193		187,193	Expense 12.5% of 2022-2024
Totals		650,742
Q3 2026		-			187,193		187,193	Expense 12.5% of 2022-2024
Q4 2026		-			187,193		187,193	Expense 12.5% of 2022-2024
Totals		187,193			748,772		935,965

Enhancement of Section 179 Expensing: The maximum Section 179 deduction is increased to $2.5 million, with a phase-out threshold beginning at $4 million. This expansion is expected to accelerate tax deductions for qualifying property and benefit capital investment strategies.

Permanent Reinstatement of 100% Bonus Depreciation: For qualified property acquired and placed in service after January 19, 2025, the Company may elect full expensing under Section 168(k), which is expected to accelerate tax deductions and reduce taxable income in applicable periods.

Modifications to FDII (now FDDEI): The deduction under Section 250 for foreign-derived intangible income is reduced to 33.34%, and eligibility criteria are narrowed. These changes may impact export-related tax incentives and deferred tax projections tied to U.S.-held IP.

The Company is currently evaluating the impact of these provisions on its financial statements and tax positions. While the changes are not expected to materially affect prior period results, they may influence future effective tax rates, deferred tax balances, and cash tax obligations. The Company ~~will~~incorporated ~~incorporate~~ these changes into its tax planning and provision calculations for fiscal year 2025 and beyond. However, the full effect of these provisions will depend on the Company's future capital expenditures, R&E activities, financing arrangements, and international operations. ~~The Company will incorporate these changes into its tax provision and planning beginning in fiscal year 2025.~~

(1415) ~~Subsequent~~ Segment ~~Events: Equity capital raise~~Reporting

OnThe ~~October~~Company 8,views ~~2025~~its ~~the~~operations ~~Company~~and ~~closed~~manages anits ~~equity~~business ~~raise~~as ~~underwritten~~one bysegment. ~~Roth~~The ~~Capital~~Company ~~Partners~~produces ~~(“Roth”).~~and ~~Roth~~sells ~~acquired~~advanced 3material solutions,~~450~~ primarily metal matrix composites,~~000~~ ~~shares~~to assemblers of ~~the~~high density electronics and other specialty components and subassemblies. The Company’s ~~common~~also ~~stock~~assembles athousings aand ~~price~~packages offor $3hybrid circuits, selling to the same customers mentioned above.00 ~~per~~These ~~share~~customers represent a single market or segment with similar stringent and well-defined requirements. The ~~net~~Company’s ~~proceeds~~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. ~~were~~The $9Company also sells armor strike faces to armor manufacturers,~~540,025~~ using the same manufacturing process used in its other product solutions. ~~Had~~The Company makes operating decisions and assesses financial performance only for the ~~transaction~~Company ~~occurred~~as ona whole and does not make operating decisions or assess financial performance by the ~~final~~end ~~day~~markets ofwhich ultimately use the ~~fiscal~~products. Our ~~quarter,~~chief ~~September~~operating 27decision maker (CODM) is Brian Mackey, ~~2025~~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 ~~balance~~CODM ~~sheet~~uses ~~would~~revenue, ~~have~~gross ~~appeared~~margin, asand ~~follows~~net ~~(changes~~income ~~are~~or ~~italicized):~~loss to allocate operating and capital resources and assess performance by comparing actual results to historical results and previously forecasted financial information.

~~CPS~~The ~~TECHNOLOGIES~~following ~~CORP.~~table presents segment information for the Company's single reporting segment:

Balance Sheets (Unaudited)

	March 28, 2026			March 29, 2025
Product sales	$	7,028,748		$	7,505,921

Cost of product sales		6,421,870			6,274,920
Gross profit		606,878			1,231,001

Selling, general, and administrative expenses		1,129,512			1,101,350
Income (loss) from operations		(522,634	)		129,651

Other income, net		146,205			50,476
Income (loss) before income tax		(376,429	)		180,127
Income tax provision (benefit)		(82,250	)		84,165
Net income (loss)	$	(294,179	)	$	95,962

	September 27, 2025			December 28, 2024
ASSETS
Current assets:
Cash and cash equivalents	$	12,774,167		$	3,280,687
Marketable securities, at fair value		1,054,079			1,031,001
Accounts receivable-trade		5,400,080			4,858,208
Accounts receivable-other		376,652			177,068
Inventories, net		5,383,680			4,331,066
Prepaid expenses and other current assets		328,249			480,986
Total current assets		25,316,907			14,159,016
Property and equipment:
Production equipment		10,599,479			10,382,379
Furniture and office equipment		910,310			891,921
Leasehold improvements		997,830			997,830
Total cost		12,507,619			12,272,130
Accumulated depreciation and amortization		(10,737,391	)		(10,377,756	)
Construction in progress		216,193			108,874
Net property and equipment		1,986,421			2,003,248
Net Intangible assets		23,746			-
Right-of-use lease asset		370,000			186,000
Deferred taxes, net		2,279,253			2,528,682
Total Assets	$	29,976,327			18,876,946
LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities:
Note payable, current portion		-			8,130
Accounts payable		3,530,052			3,053,712
Accrued expenses		1,298,268			913,279
Deferred revenue		74,257			172,429
Lease liability, current portion		161,000			160,000
Total current liabilities		5,063,577			4,307,550
Deferred revenue – long term		31,277			31,277
Long term lease liability		209,000			26,000
Total liabilities		5,303,854			4,364,827
Commitments & Contingencies
Stockholders’ equity:
Common stock, $0.01 par value, authorized 20,000,000 shares; issued 18,116,987 shares and 14,661,487; outstanding 17,979,277 and 14,525,960 shares at September 27, 2025 and December 28, 2024, respectively		181,170			146,615
Additional paid-in capital		50,314,676			40,580,387
Accumulated other comprehensive income		7,176			15,500
Accumulated deficit		(25,482,486	)		(25,890,245	)
Less cost of 137,710 and 135,527 common shares repurchased at each September 27, 2025 and December 28, 2024, respectively		(348,063	)		(340,138	)
Total stockholders’ equity		24,672,473			14,512,119
Total liabilities and stockholders’ equity	$	29,976,327		$	18,876,946

ITEM 2

MANAGEMENT’S DISCUSSION AND ANALYSIS OF FINANCIAL CONDITION AND RESULTS OF OPERATIONS

The following discussion and analysis of financial condition and results of operations is based upon and should be read in conjunction with the financial statements of the Company and notes thereto included in this report and the Company’s Annual Report on Form 10-K for the year ended December 2827, ~~2024~~2025 and in CPS’s other SEC reports, which are accessible on the SEC’s website at www.sec.gov and the Company’s website at www.cpstechnologysolutions.com.

Forward-Looking Statements

This Quarterly Report on Form 10-Q contains forward-looking statements that involve a number of risks and uncertainties. There are a number of factors that could cause the Company’s actual results to differ materially from those forecasted or projected in such forward-looking statements. This includes the impact of the Russian invasion of Ukraine, the war in Iran and other conflicts and potential conflicts, ~~throughout~~including ~~the~~economic ~~world~~conflicts, ~~and~~throughout the ~~impact of a strong dollar on the prices the Company charges to foreign customers~~world, which are discussed in Item 3 of this report. Readers are cautioned not to place undue reliance on these forward-looking statements which speak only as of the date hereof. The Company undertakes no obligation to publicly release the results of any revisions to these forward-looking statements which may be made to reflect events or changed circumstances after the date hereof or to reflect the occurrence of unanticipated events.

Critical Accounting Policies

The critical accounting policies utilized by the Company in preparation of the accompanying financial statements are set forth in Part II, Item 7 of the Company’s Annual Report on Form 10-K for the year ended December 2827, ~~2024~~2025, under the heading “Management’s Discussion and Analysis of Financial Condition and Results of Operations”. There have been no material changes to these policies since December 2827, ~~2024~~2025.

On July 4, 2025, the One Big Beautiful Bill Act (Public Law 119-21) was enacted, introducing significant changes to the Internal Revenue Code that affect the Company’s tax accounting estimates. These changes involve a high degree of estimation uncertainty and are reasonably likely to have a material impact on the Company’s financial condition and results of operations.

Key areas of estimation affected include:

Deferred Tax Asset Realizability: The restoration of immediate expensing for domestic R&E expenditures under new Section 174A and enhanced Section 179 limits may materially alter the timing and magnitude of deductible expenses. The Company is reassessing the realizability of deferred tax assets tied to prior capitalization regimes and evaluating the sensitivity of future reversals.

International Tax Provisions (NeCTIe and FDDEI): The restructuring of GILTI and FDII regimes introduces new deduction rates, foreign tax credit limitations, and eligibility criteria. These changes affect the Company’s assumptions regarding foreign income inclusions, expense allocations, and valuation allowances. Estimation uncertainty arises from forecasting foreign earnings, tax credit utilization, and jurisdictional tax rates.

Bonus Depreciation and Enhancement of Section 179 Expensing: The reinstatement of 100% bonus depreciation and enhancement of Section 179 requires updated modeling of book-tax differences and deferred balances. The Company is evaluating the impact on capital expenditure forecasts and financing strategies, which may materially affect deferred tax liabilities and effective tax rate projections.

The Company’s critical accounting estimates related to income taxes are subject to change as further guidance is issued and as the Company refines its tax planning strategies. Management continues to monitor developments and will update assumptions and disclosures as necessary.

Overview

~~Products~~The Company’s products contribute to the electrification of the green economy. The products we provide include baseplates for ~~power~~motor ~~electronics~~controllers used in high-speed electric trains, subway cars, wind turbines, ~~and~~ hybrid and electric vehicles and the transmission of High Voltage Direct Current (HVDC). We provide ~~baseplates~~hermetic ~~and~~packages ~~housings~~ used in radar, satellite and avionics applications. We provide lids and heat spreaders used with high performance integrated circuits ~~for use~~ in internet switches and routers. We provide baseplates and housings used in modules built with Wide Band Gap Semiconductors like Silicon Carbide (“SiC”) and Gallium Nitride (“GaN”), collectively Metal Matrix Composites (“MMC”). CPS also assembles housings and packages for hybrid circuits. These housings and packages may include MMC components; they may include components made of more traditional materials such as aluminum, cold rolled steel and Kovar. Using its proprietary MMC technology, the Company also produces lightweight armor, ~~particularly~~ for ~~extreme~~naval ~~environments~~ and ~~heavy~~other ~~threat~~military ~~levels~~applications.

We provide baseplates and housings used in modules built with Wide Band Gap Semiconductors like SiC and GaN. CPS also assembles housings and packages for hybrid circuits. These housings and packages may include MMC components; they may include components made of more traditional materials such as aluminum, copper-tungsten, and others.

CPS’s products are custom rather than catalog items. They are made to customers’ designs and are used as components in systems built and sold by our customers. At any point in time our product mix will consist of some products with on-going production demand, and some products which are in the prototyping or evaluation stages at our customers. The Company seeks to have a portfolio of products which include products in every stage of the technology adoption lifecycle at our customers. CPS’ growth is dependent upon the level of demand for those products already in production, as well as its success in achieving new "design wins" for future products.

As a manufacturer of highly technical and custom products, the Company incurs fixed costs needed to support the business, but which do not vary significantly with changes in sales volume. These costs include the fixed costs of applications such as engineering, tooling design and fabrication, process engineering, and others. Accordingly, particularly given our size, changes in sales volume generally result in even greater changes in financial performance on a percentage basis as fixed costs are spread over a larger or smaller base. Sales volume is therefore a key financial metric used by management.

The Company believes the underlying demand for ~~MMC,~~MMCs ~~housings for hybrid circuits and our proprietary armor solution~~ is growing as the electronics and other industries seek higher performance, higher reliability, and reduced costs. CPS believes that the Company is well positioned to offer our solutions to current and new customers as these demands grow.

CPS was incorporated in Massachusetts in 1984 as Ceramics Process Systems Corporation and reincorporated in Delaware in April 1987 through a merger into a wholly-owned Delaware subsidiary organized for purposes of the reincorporation. In July 1987, CPS completed our initial public offering of 1.5 million shares of our Common Stock. In March 2007, we changed our name from Ceramics Process Systems Corporation to CPS Technologies Corporation.

Results of Operations for the ~~Third~~First Fiscal Quarter of ~~2025~~2026 (Q3Q1 ~~2025~~2026) Compared to the ~~Third~~First Fiscal Quarter of ~~2024~~2025 (Q3Q1 ~~2024~~2025); (all $ in 000’s)

Revenues totaled $87,~~804~~029 in Q3Q1 ~~2025~~2026 compared with $47,~~247~~506 ~~generated~~ in Q3Q1 ~~2024~~2025, ana ~~increase~~decrease of ~~107~~6%. ~~Growing~~The ~~demand~~major infactor ~~our~~contributing ~~MMC~~to ~~and~~this ~~hermetic~~decrease ~~packages~~is ~~product~~the ~~lines~~reduction ~~has~~in ~~significantly~~demand ~~increased~~from ~~compared~~one toof ~~last~~our ~~year~~major customers. InAs ~~September~~announced ~~2024~~in ~~the~~Q4 ~~Company~~2025, ~~added~~CPS received a ~~third~~large ~~shift~~order infrom ~~order~~this tocustomer ~~meet~~covering ~~this~~the ~~growing~~twelve ~~demand~~month period beginning October 2025. InThrough ~~addition,~~Q1 the ~~company~~customer ~~received~~has ~~significantly~~taken ~~more~~well ~~funding~~less ~~under~~than half of the ~~federal~~quantities ~~government’s~~ordered. ~~Small~~CPS ~~Business~~has ~~Innovation~~continued ~~Research~~to ~~("SBIR")~~produce ~~program~~their inproducts Q3at ofthe ~~2025~~higher asrate, ~~compared~~both toso Q3we ~~2024.~~can ~~Lastly,~~meet ~~significant~~there needs if their demand increases inwithout ~~the~~putting ~~price~~undue ofstress ~~gold~~on our production line, ~~which~~and ~~costs~~in ~~are~~anticipation ~~billed~~of our potential move to ~~our~~a ~~customers~~larger facility, ~~also~~allowing ~~contributed~~us to ~~this~~continue ~~increase~~to meet their needs during the move.

Gross ~~profit~~margin in Q3Q1 ~~2025~~2026 totaled $~~1,503~~607 or 179% of sales. This compares with a gross ~~loss~~margin in Q3Q1 ~~2024~~2025 oftotaled $~~523~~1,231 or ~~-12~~16% of sales. This ~~percentage~~decrease ~~increase~~ was primarily due to ~~several factors including~~ the impact of lower sales volumes on fixed costs, onthe ~~significantly~~impact ~~higher~~of ~~revenues~~the price of gold, asbilled ~~well~~at as$1,019 ~~training~~at ~~costs~~approximately ~~for~~a ~~our~~0% ~~new~~margin, ~~third~~and ~~shift~~increased ~~employees~~R&D ~~during~~spending Q3on ofour ~~2024~~margins.

Selling, general and administrative (SG&A) expenses totaled $1,~~226~~130 in Q3Q1 ~~2025~~2026 compared with SG&A expenses of $~~963~~1,101 in Q3Q1 ~~2024.~~2025, ~~This~~a 3% increase ~~was~~year ~~due~~over toyear. ~~several~~This ~~factors including, the~~ increase inwas ~~variable~~primarily ~~compensation~~due asto afees ~~result~~associated ofwith ~~stronger~~the ~~results~~Company’s ~~from~~CFO ~~operations~~search, in Q3anticipation ~~2025 as compared to Q3 2024, the weakening~~ of the ~~U.S.~~future ~~dollar~~retirement ~~relative~~of to the ~~Euro~~current CFO, and ~~its~~higher ~~impact~~foreign onexchange ~~our~~ costs ~~with~~this ~~European~~year ~~vendors,~~as ~~and~~compared ~~increased commission costs due~~ to ~~higher~~last ~~revenue~~year.

The Company ~~experienced~~had an operating ~~profit~~loss of $~~276~~523 in Q3Q1 ~~2025~~2026 compared with an operating ~~loss~~income of $~~1,486~~130 in Q3Q1 ~~2024~~2025. This ~~increase~~decrease was a result of the ~~increased~~decreased gross margin, ~~partially~~discussed ~~offset by the increase in SG&A expenses~~above. ~~Net~~The net after tax ~~income~~loss was $~~208~~294 in Q3Q1 ~~2025~~2026 compared to an after tax ~~loss~~income of $~~1,043~~96 in Q3Q1 ~~2024~~2025.

~~Results~~CPS does not rely on raw materials from Ukraine, Russia, Iran, Israel or Gaza. As a result, we do not believe that the Russian invasion of ~~Operations~~Ukraine ~~for~~or the ~~First~~conflicts ~~Nine~~in ~~Months~~Middle ofEast ~~2025~~will ~~Compared~~have toa ~~the~~direct ~~First~~impact ~~Nine~~on ~~Months~~our results. Most of ~~2024~~our ~~(all~~raw $materials are sourced domestically. In some cases, our suppliers may be sourcing these materials from a foreign source. To date, we have not seen any significant cost increases that we believe are attributable to tariffs, however this could change in ~~000s)~~the future.

~~Total~~Inflation ~~revenue~~has ~~was~~had ~~$24,388~~an inimpact ~~the~~on ~~first~~our ~~nine~~costs. ~~months~~Thus ~~of 2025~~far, awe ~~61%~~have ~~increase~~largely ~~compared~~been ~~with~~able ~~total~~to ~~revenue~~pass ofalong ~~$15,190~~these inincreases ~~the~~to ~~first~~our ~~nine~~customers, ~~months~~but ofthere ~~2024.~~is Inno ~~spite~~guarantee ofthat ~~the~~we ~~completion~~will ofbe ~~our~~able ~~armor~~to ~~order~~continue ~~for~~this in the Ufuture.S. ~~Navy~~In ~~during 2024~~addition, ~~growing~~there ~~demand~~is inoften ~~our~~a ~~other~~lag ~~product~~between ~~lines~~when ~~has~~the ~~significantly~~costs ~~increased~~increase inand ~~2025~~when ~~compared~~we tocan ~~last~~adjust ~~year~~customer prices. InSome ~~September~~of ~~2024~~our ~~the~~larger ~~Company~~customers ~~added~~will ahave ~~third~~pricing ~~shift~~agreements, intypically ~~order~~for toone ~~meet~~year, ~~this~~and ~~growing~~we ~~demand.~~must Inwait ~~addition,~~for ~~the~~those ~~company~~agreements ~~received~~to ~~significantly~~end ~~more~~before ~~funding~~making ~~under~~any ~~the~~pricing ~~federal~~adjustments. ~~government’s~~Wages ~~SBIR~~have ~~program~~also inbeen ~~2025~~impacted asby ~~compared~~inflation. toWe ~~2024.~~have ~~Lastly,~~instituted ~~significant~~a ~~increases~~combination inof ~~the~~wage ~~price~~increases ofas ~~gold,~~well ~~which~~as ~~costs~~more ~~are~~competitive ~~billed~~benefits in order to ~~our~~retain ~~customers,~~the ~~also~~personnel ~~contributed~~making toup ~~this~~our ~~increase~~workforce.

~~Gross~~The ~~profit~~factors inmentioned ~~the first nine months of 2025 totaled $4~~above,~~070~~ ~~or 17% of sales. In the first nine months of 2024 gross margin totaled $153 or 1% of sales. This percentage increase was due to several factors~~ including ~~the~~inflation ~~impact~~and ~~of fixed costs on significantly higher revenues~~tariffs, ascreate ~~well~~elevated asuncertainty ~~abnormally~~regarding ~~low~~future ~~production~~financial ~~yield levels in some of our hermetic package products during 2024~~performance.

Selling, general and administrative (SG&A) expenses were $3,527 during the first nine months of 2025, up 10% compared with SG&A expenses of $3,215 in the first nine months of 2024. Increased variable compensation accruals and increased commissions, both due to significantly increased revenue were partially offset by a reduction in accounting and legal fees as well as the cost of a settlement with a former outside consultant in 2024.

During the first nine months of 2025, the Company had net other income of $115. This compares with net other income of $242 realized during the first nine months of 2024. The decrease in net other income is primarily due to reduced cash balances in the first nine months of 2025 as compared to 2024.

In the first nine months of 2025 the Company had operating income of $543 compared with an operating loss $3,062 in the same period last year. The net income for the first nine months of 2025 totaled $408 versus a net loss of $2,140 in the first nine months of 2024.

CPS does not rely on raw materials from Ukraine, Russia, Israel or Gaza. As a result, we do not believe that the Russian invasion of Ukraine will have a direct impact on our results. Nevertheless, there could be an indirect impact regarding supply chain and inflationary issues as a result of these conflicts.

Inflation has had an impact on our costs. Thus far, we have been able to pass along these increases to our customers, but there is no guarantee that we will be able to continue this in the future. In addition, there is often a lag between when the costs increase and when we can adjust customer prices. Some of our larger customers will have pricing agreements, typically for one year, and we must wait for those agreements to end before making any pricing adjustments. Further, several of our larger customers buy from our major competitor in Japan. The impact of the fluctuation of foreign exchange rates can create situations where our pricing to foreign customers can either more or less competitive as compared to our Japanese competitor.

We are beginning to see an impact of tariffs on our cost structure. While many of our raw materials are sourced domestically, we are seeing instances where the domestic supplier is able to raise prices due to the impact of tariffs on prices charged by their foreign competitors. While the overall impact of these costs increases is relatively small, they are still enough to impact our margins. Given that our major competitor is from outside the U.S., our ability to pass on these cost increases to our foreign customers is somewhat limited.

These factors combine to create a higher degree of uncertainty regarding future financial performance.

Liquidity and Capital Resources (all $ in 000’s unless noted)

The Company’s ~~liquid assets at September 27, 2025 consist of~~ cash and cash equivalents ofat $3March 28,~~234~~ ~~and~~2026 ~~marketable~~totaled ~~debt~~$5,724, ~~securities~~ with amarketable ~~fair~~securities ~~value~~ of $16,~~054~~798. This compares to cash and cash equivalents at December 2827, ~~2024~~2025 of $34,~~281~~466 and ~~$1,031~~ marketable ~~debt~~ securities ~~held~~of ~~at December 28~~$8, ~~2024~~769. WeThe ~~have~~change ~~recovered~~in ~~from~~cash ~~our~~and ~~low~~securities ~~cash~~is ~~position~~predominantly ~~near~~due ~~the~~to ~~end~~our ofincreased Q1inventory, ~~2025~~purchases of ~~$1,930.~~fixed Weassets ~~expect~~and ~~the~~reduction ~~trend~~ of ~~cash~~accrued ~~growth~~expenses, ~~from~~offset ~~operations~~by toa ~~continue~~reduction in accounts receivable.

Trade accounts receivable at ~~September~~March 2728, ~~2025~~2026 totaled $53,~~400~~789 compared with $45,~~858~~245 at December 2827, ~~2024~~2025. Days Sales Outstanding (DSO) decreased from 75 61 days at the end of ~~2024~~2025 to 5551 days at the end of Q3Q1 ~~2025~~2026. The ~~decrease~~reason infor ~~DSO~~this ~~was~~decrease ~~due~~is tothat ~~increasing~~one ~~sales volumes as we neared the end~~ of ~~2024.~~our Asmajor acustomers ~~result~~who ~~our~~historically ~~receivables~~pays atmonthly the ~~end~~first ofweek ~~2024 were a higher percentage~~ of ~~receivables~~each ~~than~~month ifmade ~~revenue~~their ~~was~~April ~~spread~~payment ~~out~~early, ~~evenly~~at ~~during~~ the ~~period~~end of March. The accounts receivable balances at December 2827, ~~2024~~2025, and ~~September~~March 2728, ~~2025,~~2026 ~~are~~were both net of an allowance for ~~doubtful~~credit ~~accounts~~losses of $10.

Inventories totaled $57,~~384~~144 at ~~September~~March 2728, ~~2025~~2026 compared with inventory totaling $45,~~331~~598 at December 2827, ~~2024~~2025. The inventory turnover in the most recent four quarters ending Q3Q1 ~~2025~~ 2026 was 54.29 times (based on a 5 quarter end average) compared with 45.84 times averaged during the four quarters of ~~2024~~2025. Due to reduced demand from a major customer and the pending move, the Company has been increasing its inventory levels.

~~On October 8, 2025 the Company closed an equity raise underwritten by Roth Capital Partners (“Roth”). Roth acquired 3,450,000 shares of the Company’s common stock at a price of $3.00 per share.~~ The ~~net proceeds to the~~ Company ~~were~~expects ~~$9,540,025.~~it Due to increased customer demand for our core products, the potential growth of our new product lines (AlMax ® fiber reinforced aluminum, radiation shielding, and others), possible new armor orders, and expanding product development efforts, the Company is actively searching for a larger facility near our current location which will ~~enable~~continue us to ~~meet~~be ~~these~~able ~~demands.~~to ~~The~~fund ~~proceeds~~its ofoperations ~~our equity raise will enable us to pay~~ for the ~~costs~~remainder ~~to relocate to a different facility, the fit up~~ of ~~the~~2026 ~~larger~~from ~~facility,~~operations and ~~the~~existing ~~capital~~cash ~~expenditures for the equipment necessary to accommodate this expected growth~~balances.

The Company expects it will continue to be able to fund its operations for the remainder of 2025 from operations and existing cash balances.

The Company continues to sell to a limited number of customers and the loss of any one of these customers could cause the Company to require additional external financing. Failure to generate sufficient revenues, raise additional capital or reduce certain discretionary spending could have a material adverse effect on the Company’s ability to achieve its business objectives.

Management believes that existing cash balances will be sufficient to fund our cash requirements for the foreseeable future. However, there is no assurance that we will be able to generate sufficient revenues or reduce certain discretionary spending in the event that planned operational goals are not met such that we will be able to meet our obligations as they become due.

Contractual Obligations (all $ in 000’s unless otherwise noted)

The Company ~~has~~maintains a $3.0 million revolving line of credit (LOC) ~~in the amount of $3.0 million~~ with Rockland Trust Company. The LOC is secured by the accounts receivable and other assets of the Company and has an interest rate of the National Prime Rate as published by the Wall Street Journal (7.~~25%~~ ~~on 9/27/2025).~~ On ~~September~~March 2728, ~~2025~~2026, the Company had $0 of borrowings under this LOC and its borrowing base at the time would have permitted anthe ~~additional~~full $32.07 million to have been borrowed. The LOC remains in effect until terminated per mutual agreement by both parties.

InThe ~~March~~Company ~~2020,~~has ~~the~~one ~~company~~real ~~acquired~~estate alease ~~scanning~~expiring ~~acoustic~~in ~~microscope~~February ~~for~~2028. aCPS ~~price~~also ofhas ~~$208~~a ~~thousand.~~few ~~The~~other ~~full~~leases ~~amount~~for ~~was~~equipment ~~financed~~which ~~through~~are aminor 5in ~~year~~nature ~~note~~and ~~payable~~are ~~with~~generally ashort-term ~~financing~~in ~~company~~duration. ~~This~~None ~~note~~of ~~was~~these ~~paid~~have inbeen ~~full~~capitalized. in(Note ~~the~~6, ~~first~~Commitments ~~quarter~~and ~~of 2025.~~Contingencies)

The Company has one real estate lease expiring in February 2028. CPS also has a few other leases for equipment which are minor in nature and are generally short-term in duration. None of these have been capitalized. (Note 6, Leases)

ITEM 3

QUANTITATIVE AND QUALITATIVE DISCLOSURES ABOUT MARKET RISK

The Company is not significantly exposed to the ~~direct~~ impact of interest rate changes. orThe ~~foreign~~Company ~~currency~~has ~~fluctuations~~not used derivative financial instruments. ~~Nevertheless,~~As one of ~~the~~our ~~Company’s~~ major competitors is located in Japan., ~~The~~currency ~~relative~~fluctuations ~~strength of the US dollar versus the Japanese yen~~ can have aan ~~negative~~ impact on ~~the~~how ~~Company’s~~we ~~ability~~price toour ~~raise~~product ~~prices~~in ~~when~~order ~~necessary~~ to ~~offset~~remain ~~increasing costs~~competitive. ~~The Company has not used derivative financial instruments.~~

Although CPS has not been directly impacted by the war in Ukraine or by the conflict in the Middle East, potential supply chain disruptions and its impact on energy costs are areas where we could be impacted in the future.

Inflation ~~and the impact of tariffs on our costs~~ is an area where we have seen some ~~affect~~impact on our business. We have seen price increases in commodity raw materials, ~~such~~ as ~~aluminum, as~~ well as increases in other costs of doing business. As we receive new orders we have been able to pass on most of these costs to our customers. ~~Fortunately,~~In ~~raw~~the ~~materials~~case ~~make up a smaller portion~~ of ~~our~~longer ~~overall~~term ~~costs.~~pricing ~~While~~agreements, ~~they~~we ~~provide~~have abeen ~~headwind~~able to ~~our~~pass ~~profitability,~~on ~~they~~some ~~are~~of athese ~~relatively~~costs ~~small~~through ~~factor~~surcharges and in ~~that~~other ~~total~~ways ~~equation.~~to Asmitigate ~~inflation~~the ~~continues~~impact oron ~~new~~our ~~tariffs~~profit. ~~are~~As ~~put~~inflation ~~in place~~continues, our ability to continue to absorb higher costs by raising customer prices cannot be guaranteed.

As of the date of this document, we are not aware of any material negative impacts that tariffs have on our business. Nevertheless, this issue is currently in flux. We could be negatively impacted in the sourcing of raw materials, or, reciprocal tariffs on CPS product could make it more difficult for us to sell profitably to foreign customers.

ITEM 4

CONTROLS AND PROCEDURES

(a) The Company’s Chief Executive Officer and Chief Financial Officer have evaluated the effectiveness of the Company’s disclosure controls and procedures (as such term is defined in Rules 13a-14(c) and 15d - 14(c) under the Securities Exchange Act of 1934, as amended (the “Exchange Act”)) as of the end of the period covered by this Form 10-Q (the “Evaluation Date”). Based on such evaluation, such officers have concluded that, as of the Evaluation Date, 1) the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed by the Company in reports the Company files under the Securities Exchange Act is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the SEC and 2) the Company’s disclosure controls and procedures are effective to ensure that information required to be disclosed in the reports that the Company files or submits under the Exchange Act is accumulated and communicated to our management, including our chief executive officer and chief financial officer, to allow timely decisions regarding required disclosure.

(b) Changes in Internal Controls. There has been no change in our internal control over financial reporting that occurred during our most recent fiscal quarter that has materially affected or is reasonably likely to materially affect our internal control over financial reporting.

PART II OTHER INFORMATION

ITEM 1

LEGAL PROCEEDINGS

~~None~~We are not a party to any litigation which could have a material adverse effect on us or on our business.

ITEM 1A

RISK FACTORS

There have been no material changes to the risk factors as discussed in our ~~2024~~2025 Form 10-K.

ITEM 2

UNREGISTERED SALES OF EQUITY SECURITIES AND USE OF PROCEEDS.

None.

ITEM 3

DEFAULTS UPON SENIOR SECURITIES

None.

ITEM 4

MINE SAFETY DISCLOSURES

Not applicable.

ITEM 5

OTHER INFORMATION

Not applicable.

ITEM 6

EXHIBITS AND REPORTS ON FORM 8-K:

(a)

Exhibits:

Exhibit 31.1 Certification Of President and Chief Executive Officer Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 302 Of The Sarbanes-Oxley Act Of 2002

Exhibit 31.2 Certification Of Chief Financial Officer Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 302 Of The Sarbanes-Oxley Act Of 2002

Exhibit 32.1 Certification Pursuant To 18 U.S.C. Section 1350, As Adopted Pursuant To Section 906 Of The Sarbanes-Oxley Act Of 2002

101.INS Inline XBRL Instance Document

101.SCH Inline XBRL Taxonomy Extension Schema Document

101.CAL Inline XBRL Taxonomy Extension Calculation Linkbase Document

101.DEF Inline XBRL Taxonomy Extension Definition Linkbase Document

101.LAB Inline XBRL Taxonomy Extension Label Linkbase Document

101.PRE Inline XBRL Taxonomy Extension Presentation Linkbase Document

104 Cover Page Interactive Data File (embedded within the Inline XBRL and contained in Exhibit 101)

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.

CPS TECHNOLOGIES CORPORATION

(Registrant)

Date: ~~October~~May 315, ~~2025~~2026

/s/Brian T. Mackey

Brian T. Mackey

President and Chief Executive Officer

Date: ~~October~~May 315, ~~2025~~2026

/s/ Charles K. Griffith Jr.

Charles K. Griffith Jr.

Chief Financial Officer

Filing Compare · CPS TECHNOLOGIES CORP/DE/