v3.26.1

Condensed Consolidated Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 8,196	$ 8,734
Accounts receivable, net of allowance for credit losses	677	1,293
Contract assets	3,347	2,853
Inventories	306	285
Current assets of discontinued operations	2,780	2,852
Assets held for sale – equipment		510
Other current assets	390	357
Total current assets	15,696	16,884
Property, plant and equipment, net	10,421	10,529
Noncurrent assets of discontinued operations		46
Other assets	97	50
Total assets	26,214	27,509
Current liabilities:
Accounts payable	213	250
Accrued expenses	1,039	849
Current maturities of long-term debt		181
Current liabilities of discontinued operations	1,154	944
Contract liabilities	526	560
Total current liabilities	2,932	2,784
Total liabilities	2,932	2,784
Contingencies – Note 12
Stockholders’ equity:
Common stock - $0.01 par value – 20,000,000 shares authorized; 6,937,338 issued and outstanding at March 31, 2026 and December 31, 2025	69	69
Additional paid-in capital	30,919	30,699
Accumulated deficit	(7,706)	(6,043)
Total stockholders’ equity	23,282	24,725
Total liabilities and stockholders’ equity	$ 26,214	$ 27,509

Carrying value as of the balance sheet date of liabilities incurred (and for which invoices have typically been received) and payable to vendors for goods and services received that are used in an entity's business. Used to reflect the current portion of the liabilities (due within one year or within the normal operating cycle if longer).

CVD EQUIPMENT CORP 10-Q