Interlink Electronics Reports Third Quarter 2024 Financial Results

Interlink Electronics, Inc., a leading provider of sensors and printed electronic solutions, recently disclosed its financial performance for the quarter ended September 30, 2024. The company’s revenue for the quarter was approximately $2.7 million, reflecting a 13% decrease compared to the same quarter in the previous year. This reduction was attributed to lower shipments of traditional force-sensor products and printed electronics products at its Calman Technology subsidiary, but partially offset by increased sales of gas-sensor products. The change in sales mix influenced the gross margin, which stood at 41.4% for the quarter, down from 47.4% in the corresponding period last year.

The company disclosed its consolidated financial results for the period. Revenue for the third quarter of 2024 amounted to $2.7 million, reflecting a decline from the prior year. For the nine-month period ending September 30, 2024, revenue was $8.7 million, down by 16% compared to the same period in 2023. The shift in product mix and lower sales volumes contributed to a decrease in gross profit margin.

Interlink Electronics’ net loss for the quarter was $523,000, compared to a loss of $125,000 in the previous year’s quarter. Similarly, the net loss for the nine-month period ending in 2024 was $1,571,000, compared to a net income of $65,000 for the same period in 2023. These losses were primarily driven by lower revenue and increased intangible asset amortization expenses resulting from the acquisition of Calman Technology.

Adjusted EBITDA for the third quarter of 2024 was negative $260,000, representing a decrease from the negative $4,000 reported in the third quarter of 2023. For the nine-month period ending September 30, 2024, Adjusted EBITDA was negative $848,000, down from the positive $448,000 recorded in the same period last year.

Despite challenges with certain long-term force-sensing customers, Interlink Electronics remains optimistic about growth prospects for 2025 and 2026. The company has made adjustments to its cost structure, intensified efforts to acquire new customers, and plans to expand its sales team to boost organic growth on a global scale.

For more information about Interlink Electronics and its solutions, visit www.InterlinkElectronics.com.

This release contains forward-looking statements and utilizes non-GAAP financial measures to provide transparency on core operating results and financial performance evaluation. Limitations related to non-GAAP financial measures are acknowledged, and appropriate disclosures have been made.

Contact:
Interlink Electronics, Inc.
[email protected]
Steven N. Bronson, CEO
805-623-4184

This article was generated by an automated content engine and was reviewed by a human editor prior to publication. For additional information, read Interlink Electronics’s 8K filing here.

About Interlink Electronics

Interlink Electronics, Inc, together with its subsidiaries, designs, develops, manufactures, and sells force-sensing technologies that incorporate proprietary materials technology, firmware, and software into sensor-based products and custom sensor system solutions in the United States, Asia, the Middle East, Europe, and internationally.