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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 8-K

 

CURRENT REPORT

 

PURSUANT TO SECTION 13 OR 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

 

Date of Report (Date of Earliest Event Reported): August 13, 2025

 

INTERLINK ELECTRONICS, INC.

(Exact Name of Registrant as Specified in Charter)

 

Nevada 001-37659 77-0056625
(State or Other Jurisdiction (Commission (IRS Employer
of Incorporation) File Number) Identification No.)

 

  48389 Fremont Boulevard, Suite 110  
  Fremont, California 94538
  (Address of Principal Executive Offices) (Zip Code)

 

(510) 244-0424

(Registrant’s telephone number, including area code)

 

Not Applicable

(Former name or former address, if changed since last report)

 

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, $0.001 par value   LINK   The NASDAQ Stock Market LLC

 

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):

 

  ¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

 

  ¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

 

  ¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

 

  ¨ Pre-commencement communications pursuant to Rule 13e-4(c)) under the Exchange Act (17 CFR 240.13e-4(c))

 

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

 

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. ¨

 

 

 

 


 

Item 2.02. Results of Operations and Financial Condition.

 

On August 13, 2025, Interlink Electronics, Inc. announced its financial results for the quarter ended June 30, 2025. A copy of the press release is being furnished as Exhibit 99.1 to this Current Report on Form 8-K.

 

The information in this Item 2.02 of Current Report on Form 8-K and Exhibit 99.1 attached hereto is intended to be furnished and shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934 (the “Exchange Act”) or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933 or the Exchange Act, except as expressly set forth by specific reference in such filing.

 

Item 9.01 Financial Statements and Exhibits.

 

(d) Exhibits

 

The following exhibits are filed as part of this Current Report on Form 8-K:

 

Exhibit
Number
  Description
99.1   Press Release Issued by Interlink Electronics, Inc. dated June 30, 2025.
104   Cover Page Interactive Data File for this Current Report on Form 8-K (formatted as Inline XBRL and contained in Exhibit 101)

 

2 


 

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 hereunto duly authorized.

 

Date: August 13, 2025 INTERLINK ELECTRONICS, INC.
     
  By: /s/ Ryan J. Hoffman
    Ryan J. Hoffman
    Chief Financial Officer

 

3 

 

EX-99.1 2 tm2523314d1_ex99-1.htm EXHIBIT 99.1

 

Exhibit 99.1

 

 

Interlink Electronics Reports Strong Second Quarter 2025 Results

 

·        Q2 2025 Revenue up 18%, Driving Solid Gross Margins and Profitability

 

·        Beginning Production on Integrated Sensing Solution for Division of Top 10 Global OEM

 

·        Awarded $280K SBIR Grant, Underscoring Interlink’s Leading Position in the Gas Sensing Industry

 

FREMONT, Calif., August 13, 2025 – Interlink Electronics, Inc. (Nasdaq: LINK) (“Interlink” or the “Company”), a global leader in sensor technology and printed electronic solutions, today reported results for the second quarter ended June 30, 2025.

 

The second quarter of 2025 marked a pivotal step in Interlink’s mission to become a global leader in sensor technology and printed electronic solutions. Progress on key strategic initiatives is positioning the company to achieve its growth and profitability objectives.

 

Q2 2025 and Recent Highlights

 

· Revenue growth: Increased revenue 18% year-over-year to $3.4 million.

 

· Profitability progress: Gross margin improved to 45%, driving $323,000 of adjusted EBITDA (non-GAAP) and positive net income of $100,000, underscoring Interlink’s disciplined execution and operating leverage.

 

· Major design win: In April, secured an integrated sensing solution program with a division of a top-10 global company. Pre-production begins this quarter, with approximately $1 million of revenue expected in 2026 and meaningful expansion projected in 2027 and beyond.

 

· SBIR award: In August, received a $280,000 SBIR Phase 1 award from the National Institute of Environmental Health Sciences (NIEHS) to develop a high-resolution, hyper-local air quality monitoring system using low-cost gas sensing nodes and advanced AI forecasting.

 

· Customer momentum: Continued to expand relationships with new and existing Fortune 500 customers, supported by a scalable product portfolio and disciplined execution.

 

· While organic execution remains the top priority, the Company is actively evaluating a growing pipeline of strategic acquisition opportunities and will pursue transactions that align with long-term goals and enhance shareholder value.

 

Management Commentary

 

“Our second quarter results reflect the tangible progress we are making toward sustainable, profitable growth,” said Steven N. Bronson, Chairman, President, and CEO. “Revenue increased 18% year-over-year, driven by higher gas-sensor shipments, stronger printed electronics demand through our Calman Technology subsidiary, and contributions from our recent Conductive Transfers acquisition. Sequential gross margin improvement to 45% reflects disciplined execution and a favorable product mix. We expect to see continued year-over-year revenue and gross margin improvements in the second half of 2025 and in to 2026.

 

“Momentum in our gas-sensor and printed electronics product-lines is particularly encouraging, and we anticipate a steady rebound in our force-sensing business as demand normalizes. In parallel, we are actively evaluating a robust M&A pipeline and will act when opportunities align with our strategy and enhance shareholder value.

 

“With a sharpened focus, improving financial profile, and multiple growth vectors, we believe 2026 will be a defining year for Interlink, characterized by accelerating top-line growth, expanding gross margins, and consistent profitability.”

 

 


 

Consolidated Financial Results

 

(Amounts in thousands except per share data and percentages)

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2025     2024     $ ∆     % ∆     2025     2024     $ ∆     % ∆  
Revenue   $ 3,414     $ 2,898     $ 516       17.8 %   $ 6,078     $ 6,022     $ 56       0.9 %
Gross profit   $ 1,538     $ 1,305     $ 233       17.9 %   $ 2,487     $ 2,558     $ (71 )     (2.8 )%
Gross margin     45.0 %     45.0 %                     40.9 %     42.5 %                
Income (loss) from operations   $ 66     $ (313 )   $ 379             $ (783 )   $ (1,064 )   $ 281          
Net income (loss)   $ 100     $ (307 )   $ 407             $ (705 )   $ (1,048 )   $ 343          
Net loss applicable to common stockholders   $     $ (407 )   $ 407             $ (905 )   $ (1,248 )   $ 343          
Earnings (loss) per common share – diluted   $     $ (0.04 )   $ 0.04             $ (0.09 )   $ (0.13 )   $ 0.04          
Adjusted EBITDA   $ 323     $ (80 )   $ 403             $ (300 )   $ (588 )   $ 288          

 

Revenue for the second quarter of 2025 increased 18% to $3.4 million, compared to $2.9 million in the second quarter of 2024. The year-over-year growth was driven by higher shipments of gas-sensor products, increased sales of printed electronics through our Calman Technology subsidiary (benefiting in part from a stronger Pound Sterling), and contributions from the recently acquired Conductive Transfers subsidiary, partially offset by lower sales of force-sensor products. Revenue continues to reflect fluctuations in customer demand, which can vary with order flow and production cycles, impacting both the timing and volume of shipments.

 

Gross margin for the quarter was 45.0%, flat compared to the second quarter of last year, and up from 35.6% in the first quarter of 2025. The sequential improvement primarily reflects higher revenue and favorable product mix.

 

Net income totaled $100,000, compared to a net loss of $307,000 in the year-ago period. The improvement in net income was driven by higher revenue and lower operating expenses, reflecting reduced headcount and related compensation costs.

 

Adjusted EBITDA, a non-GAAP financial measure, was $323,000, compared to $(80,000) in the prior-year period.

 

About Interlink Electronics, Inc.

 

Interlink Electronics is a leading provider of sensors and printed electronic solutions, boasting 40 years of success in delivering mission-critical technologies across diverse markets. Our customers, including global blue-chip companies, trust our products and solutions, which span various markets, including medical, industrial, automotive, wearables, IoT, and other specialty markets. Our expertise in materials science, manufacturing, embedded electronics, firmware, and software enables us to create custom solutions tailored to our customers’ unique needs.

 

We serve our international customer base from our corporate headquarters and proprietary gas sensor production and product development facility in Fremont, California (Silicon Valley area); our Global Product Development and Materials Science Center and distribution and logistics center in Camarillo, California; and our advanced printed-electronics manufacturing facilities in Shenzhen, China; Irvine, Scotland; and Barnsley, England.

 

For more information, please visit www.InterlinkElectronics.com.

 

 


 

Forward Looking Statements

 

This release contains “forward-looking statements” within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements can be generally identified by phrases such as “thinks,” “anticipates,” “believes,” “estimates,” “expects,” “intends,” “plans,” and similar words. Forward-looking statements in our press releases include statements about our projected financial and operating performance, our acquisition program, our strategy and prospects, and our opportunities for organic growth and synergies. Forward-looking statements are not guarantees of future performance and are inherently subject to uncertainties and other factors which could cause actual results to differ materially from the forward-looking statement. Such statements are based upon, among other things, assumptions made by, and information currently available to, management, including management’s own knowledge and assessment of the company’s industry, R&D initiatives, competition and capital requirements. Other factors and uncertainties that could affect the company’s forward-looking statements include, among other things, the following: our success in predicting new markets and the acceptance of our new products; efficient management of our infrastructure; the pace of technological developments and industry standards evolution and their effect on our target product and market choices; the effect of outsourcing technology development; changes in the ordering patterns of our customers; a decrease in the quality and/or reliability of our products; protection of our proprietary intellectual property; competition by alternative sophisticated as well as generic products; continued availability of raw materials for our products at competitive prices; disruptions in our manufacturing facilities; risks of international sales and operations including fluctuations in exchange rates and tariffs; compliance with regulatory requirements applicable to our manufacturing operations; and customer concentrations. Additional factors that could cause actual results to differ materially from those anticipated by our forward-looking statements are described under the captions “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” in our most recent Annual Report (Form 10-K) or Quarterly Report (Form 10-Q) filed with the Securities and Exchange Commission. Forward-looking statements are made as of the date of the respective release, and we expressly disclaim any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise.

 

Non-GAAP Financial Measure

 

To supplement our condensed consolidated financial statements, which are prepared and presented in accordance with United States generally accepted accounting principles (“GAAP”), we use the following non-GAAP financial measure: Adjusted EBITDA. The presentation of this financial information is not intended to be considered in isolation or as a substitute for, or superior to, the financial information prepared and presented in accordance with GAAP.

 

We define Adjusted EBITDA for a particular period as net income (loss) before interest, taxes, depreciation and amortization, and as further adjusted for stock-based compensation expense.

 

We use this non-GAAP financial measure for financial and operational decision-making and as a means to evaluate period-to-period comparisons. We believe that this non-GAAP financial measure provides meaningful supplemental information regarding our performance by excluding certain items that may not be indicative of our core business operating results, such as amortization expense related to our recent acquisitions. We believe that both management and investors benefit from referring to this non-GAAP financial measure in assessing our performance and when planning, forecasting, and analyzing future periods. This non-GAAP financial measure also facilitates management’s internal comparisons to our historical performance and liquidity as well as comparisons to our competitors’ operating results. We believe this non-GAAP financial measure is useful to investors both because (1) is allows for greater transparency with respect to key metrics used by management in its financial and operational decision-making and (2) it is used by our investors to help them analyze the health of our business.

 

There are a number of limitations related to the use of non-GAAP financial measures. We compensate for these limitations by providing specific information regarding the GAAP amounts excluded from these non-GAAP financial measures and evaluating these non-GAAP financial measures together with their relevant financial measures in accordance with GAAP.

 

Company Contact:

Interlink Electronics, Inc.

Steven N. Bronson, CEO

LINK@IESensors.com

805-623-4184

 

Investor Relations Contact:

Gateway Group

Matt Glover and Clay Liolios

LINK@IESensors.com

949-574-3860

 

 


 

INTERLINK ELECTRONICS, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(unaudited)

 

    June 30,     December 31,  
    2025     2024  
             
    (in thousands)  
ASSETS                
Current assets                
Cash and cash equivalents   $ 2,329     $ 2,950  
Accounts receivable, net     2,022       1,612  
Inventories     1,651       2,009  
Prepaid expenses and other current assets     422       328  
Total current assets     6,424       6,899  
Property, plant and equipment, net     552       411  
Intangible assets, net     1,723       1,874  
Goodwill     2,626       2,658  
Right-of-use assets     931       1,064  
Deferred tax assets     160       82  
Other assets     94       128  
Total assets   $ 12,510     $ 13,116  
                 
LIABILITIES AND STOCKHOLDERS’ EQUITY                
Current liabilities                
Accounts payable   $ 501     $ 573  
Accrued liabilities     312       377  
Lease liabilities, current     353       352  
Accrued income taxes     256       88  
Total current liabilities     1,422       1,390  
                 
Long-term liabilities                
Lease liabilities, long term     641       777  
Deferred tax liabilities     408       456  
Total long-term liabilities     1,049       1,233  
Total liabilities     2,471       2,623  
                 
Stockholders’ equity                
Preferred stock     2       2  
Common stock     10       10  
Additional paid-in-capital     62,327       62,313  
Accumulated other comprehensive income     452       15  
Accumulated deficit     (52,752 )     (51,847 )
Total stockholders’ equity     10,039       10,493  
Total liabilities and stockholders’ equity   $ 12,510     $ 13,116  

 

 


 

INTERLINK ELECTRONICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(unaudited)

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2025     2024     2025     2024  
                         
    (in thousands, except per share data)  
Revenue   $ 3,414     $ 2,898     $ 6,078     $ 6,022  
Cost of revenue     1,876       1,593       3,591       3,464  
Gross profit     1,538       1,305       2,487       2,558  
Operating expenses:                                
Engineering, research and development     363       510       797       1,086  
Selling, general and administrative     1,109       1,108       2,473       2,536  
Total operating expenses     1,472       1,618       3,270       3,622  
Income (loss) from operations     66       (313 )     (783 )     (1,064 )
Other income (expense), net     25       16       30       48  
Income (loss) before income taxes     91       (297 )     (753 )     (1,016 )
Income tax expense (benefit)     (9 )     10       (48 )     32  
Net income (loss)   $ 100     $ (307 )   $ (705 )   $ (1,048 )
                                 
Net income (loss) applicable to common stockholders   $     $ (407 )   $ (905 )   $ (1,248 )
Earnings (loss) per common share – basic and diluted   $     $ (0.04 )   $ (0.09 )   $ (0.13 )
Weighted average common shares outstanding – basic and diluted     9,864       9,860       9,864       9,860  

 

INTERLINK ELECTRONICS, INC.

RECONCILIATION OF CONSOLIDATED NET LOSS TO CONSOLIDATED ADJUSTED EBITDA

(unaudited)

 

    Three Months Ended June 30,     Six Months Ended June 30,  
    2025     2024     2025     2024  
                         
    (in thousands)  
Net income (loss)   $ 100     $ (307 )   $ (705 )   $ (1,048 )
Adjustments to arrive at earnings before interest, taxes, depreciation, and amortization (EBITDA):                                
Interest (income)     (7 )     (14 )     (13 )     (32 )
Income tax expense (benefit)     (9 )     10       (48 )     32  
Depreciation expense     47       37       94       77  
Amortization expense     185       189       358       378  
EBITDA     316       (85 )     (314 )     (593 )
Adjustments to arrive at Adjusted EBITDA:                                
Stock-based compensation expense     7       5       14       5  
Adjusted EBITDA   $ 323     $ (80 )   $ (300 )   $ (588 )