Interlink Electronics Reports Fourth Quarter 2025 Results
Rhea-AI Summary
Interlink Electronics (Nasdaq: LINK) reported Q4 2025 results for the quarter ended December 31, 2025. Revenue was $2.85 million, down 4.5% year-over-year; Q4 gross margin fell to 31.7% from 39.6%. Net loss was $574,000 and adjusted EBITDA was $(511,000).
The company began volume production of a custom piezoelectric sensor for autonomous vehicles, is shipping a second‑generation FSR for robotic-assisted surgery, expanded printed electrode sales in diagnostics, converted preferred stock removing $400,000 of annual dividend expense, and added business development directors.
Positive
- Preferred conversion eliminated $400,000 of annual preferred dividends
- Volume production of custom piezoelectric sensor for autonomous vehicle market began
- Second‑generation FSR now shipping for a leading robotic-assisted surgery platform
Negative
- Gross margin declined 790 basis points from 39.6% to 31.7% in Q4 2025
- Q4 net loss widened to $574,000 from $413,000 year‑ago (loss increase >10%)
- Adjusted EBITDA worsened to $(511,000) from $(233,000) year‑ago
News Market Reaction – LINK
On the day this news was published, LINK declined 2.42%, reflecting a moderate negative market reaction. Our momentum scanner triggered 2 alerts that day, indicating moderate trading interest and price volatility. This price movement removed approximately $1M from the company's valuation, bringing the market cap to $45.36M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
LINK showed a modest -0.8% move while peers were mixed: GAUZ up 22.8%, HOLO modestly higher and in momentum at +4.57%, while NEON, ELTK, and RELL traded down slightly. This points to stock-specific rather than sector-driven dynamics.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Nov 12 | Q3 2025 earnings | Positive | -15.9% | Double-digit revenue growth and higher margins but shares fell sharply post-print. |
| Aug 13 | Q2 2025 earnings | Positive | +18.1% | 18% YoY revenue growth, 45% gross margin and positive net income drove gains. |
| May 13 | Q1 2025 earnings | Neutral | +3.7% | Revenue decline and margin compression offset by major design win and 2026 outlook. |
| Mar 27 | Q4/FY 2024 earnings | Negative | +2.1% | Full-year revenue and margin declines but stock rose modestly after the release. |
| Nov 07 | Q3 2024 earnings | Negative | -1.9% | Revenue and margin declines with wider net loss coincided with a mild share drop. |
Earnings releases have produced mixed reactions: strong fundamental quarters have sometimes faced sharp selloffs, while weaker periods have not always been punished, indicating inconsistent alignment between results and price moves.
Over the past year, Interlink’s earnings cycle has shown a mix of transition and growth. Q4 and full-year 2024 results highlighted declining revenue and margin, followed by a weak Q1 2025 but improving trends in Q2 and Q3 with double-digit revenue growth and stronger gross margins. Market reactions were inconsistent, including a -15.92% move after positive Q3 2025 results and a +18.13% move after strong Q2. Today’s Q4 2025 report fits into this ongoing transition from contraction to selective growth.
Historical Comparison
In the past five earnings releases, LINK’s average 1-day move was about 1.22%, with both sharp rallies and selloffs following changing revenue and margin trends.
Earnings since late 2024 show a shift from declining revenue and margins toward periods of double-digit growth and improved profitability in 2025, though market reactions have remained uneven across quarters.
Market Pulse Summary
This announcement highlights a transitional quarter: Q4 2025 revenue declined to $2.85M with gross margin at 31.7%, and net loss widened to $574,000. At the same time, Interlink expanded into autonomous vehicles and robotic surgery and removed $400,000 in annual preferred dividends through conversion. Compared with prior earnings, investors may focus on how mix shifts, margin recovery, and new design wins translate into sustained growth and eventual profitability.
Key Terms
adjusted ebitda financial
preferred stock financial
piezoelectric technical
AI-generated analysis. Not financial advice.
FREMONT, Calif., March 26, 2026 (GLOBE NEWSWIRE) -- Interlink Electronics, Inc. (Nasdaq: LINK) (“Interlink” or the “Company”), a global leader in sensor technology and printed electronic solutions, today reported results for the fourth quarter ended December 31, 2025.
Q4 2025 and Recent Highlights
- Recently began volume production of a custom piezoelectric sensor solution now deployed in the rapidly expanding autonomous vehicle market.
- Now shipping a second-generation custom FSR solution for a leading robotic-assisted surgery platform.
- Continued expansion of our presence as a trusted provider of printed electrode solutions in the healthcare diagnostics market.
- Added two Senior Business Development Directors in January 2026 to drive organic growth in North America and Europe.
- Successful conversion of our preferred stock into common stock in October 2025, eliminating
$400,000 of preferred stock dividends annually.
“We are excited about our momentum with both new and existing customers,” said Steven N. Bronson, Chairman, President, and CEO. “We are confident that we are well-positioned for organic growth in 2026 and 2027. In addition, we are actively pursuing acquisitions.”
Consolidated Financial Results
(Amounts in thousands except per share data and percentages)
| Three Months Ended December 31, | Year Ended December 31, | ||||||||||||||||||||||||||||||||||||||
| 2025 | 2024 | $ ∆ | % ∆ | 2025 | 2024 | $ ∆ | % ∆ | ||||||||||||||||||||||||||||||||
| Revenue | $ | 2,853 | $ | 2,986 | $ | (133 | ) | (4.5 | ) | % | $ | 11,890 | $ | 11,679 | $ | 211 | 1.8 | % | |||||||||||||||||||||
| Gross profit | $ | 905 | $ | 1,183 | $ | (278 | ) | (23.5 | ) | % | $ | 4,630 | $ | 4,846 | $ | (216 | ) | (4.5 | ) | % | |||||||||||||||||||
| Gross margin | 31.7 | % | 39.6 | % | 38.9 | % | 41.5 | % | |||||||||||||||||||||||||||||||
| (Loss) from operations | $ | (733 | ) | $ | (510 | ) | $ | (223 | ) | $ | (1,829 | ) | $ | (2,050 | ) | $ | 221 | ||||||||||||||||||||||
| Net (loss) | $ | (574 | ) | $ | (413 | ) | $ | (161 | ) | $ | (1,615 | ) | $ | (1,984 | ) | $ | 369 | ||||||||||||||||||||||
| Net (loss) applicable to common stockholders | $ | (607 | ) | $ | (513 | ) | $ | (94 | ) | $ | (1,948 | ) | $ | (2,384 | ) | $ | 436 | ||||||||||||||||||||||
| Earnings (loss) per common share – diluted | $ | (0.04 | ) | $ | (0.03 | ) | $ | (0.01 | ) | $ | (0.13 | ) | $ | (0.16 | ) | $ | 0.03 | ||||||||||||||||||||||
| Adjusted EBITDA | $ | (511 | ) | $ | (233 | ) | $ | (278 | ) | $ | (885 | ) | $ | (1,072 | ) | $ | 187 | ||||||||||||||||||||||
Revenue for the fourth quarter of 2025 decreased
Gross margin for the fourth quarter of 2025 was
Net loss for the fourth quarter of 2025 was
Adjusted EBITDA, a non‑GAAP financial measure, was
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 advanced printed electronics and materials science laboratory in Camarillo, California; and our advanced printed-electronics manufacturing facilities in Shenzhen, China; and Irvine, Scotland.
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) it 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
| INTERLINK ELECTRONICS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS (unaudited) | ||||||||
| December 31, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (in thousands, except par value) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,724 | $ | 2,950 | ||||
| Accounts receivable, net | 1,542 | 1,612 | ||||||
| Inventories | 1,801 | 2,009 | ||||||
| Prepaid expenses and other current assets | 236 | 328 | ||||||
| Total current assets | 6,303 | 6,899 | ||||||
| Property, plant and equipment, net | 474 | 411 | ||||||
| Intangible assets, net | 1,333 | 1,874 | ||||||
| Goodwill | 2,586 | 2,658 | ||||||
| Right-of-use assets | 760 | 1,064 | ||||||
| Deferred tax assets | 202 | 82 | ||||||
| Other assets | 80 | 128 | ||||||
| Total assets | $ | 11,738 | $ | 13,116 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 985 | $ | 573 | ||||
| Accrued liabilities | 330 | 377 | ||||||
| Lease liabilities, current | 324 | 352 | ||||||
| Accrued income taxes | 24 | 88 | ||||||
| Total current liabilities | 1,663 | 1,390 | ||||||
| Long-term liabilities | ||||||||
| Lease liabilities, long term | 493 | 777 | ||||||
| Deferred tax liabilities | 361 | 456 | ||||||
| Total long-term liabilities | 854 | 1,233 | ||||||
| Total liabilities | 2,517 | 2,623 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock | — | 2 | ||||||
| Common stock | 16 | 15 | ||||||
| Additional paid-in-capital | 62,594 | 62,308 | ||||||
| Accumulated other comprehensive income | 406 | 15 | ||||||
| Accumulated deficit | (53,795 | ) | (51,847 | ) | ||||
| Total stockholders’ equity | 9,221 | 10,493 | ||||||
| Total liabilities and stockholders’ equity | $ | 11,738 | $ | 13,116 | ||||
| INTERLINK ELECTRONICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Revenue | $ | 2,853 | $ | 2,986 | $ | 11,890 | $ | 11,679 | ||||||||
| Cost of revenue | 1,948 | 1,803 | 7,260 | 6,833 | ||||||||||||
| Gross profit | 905 | 1,183 | 4,630 | 4,846 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Engineering, research and development | 353 | 480 | 1,504 | 2,052 | ||||||||||||
| Selling, general and administrative | 1,285 | 1,213 | 4,955 | 4,844 | ||||||||||||
| Total operating expenses | 1,638 | 1,693 | 6,459 | 6,896 | ||||||||||||
| (Loss) from operations | (733 | ) | (510 | ) | (1,829 | ) | (2,050 | ) | ||||||||
| Other income (expense), net | (10 | ) | 64 | 23 | 93 | |||||||||||
| (Loss) before income taxes | (743 | ) | (446 | ) | (1,806 | ) | (1,957 | ) | ||||||||
| Income tax expense (benefit) | (169 | ) | (33 | ) | (191 | ) | 27 | |||||||||
| Net (loss) | $ | (574 | ) | $ | (413 | ) | $ | (1,615 | ) | $ | (1,984 | ) | ||||
| Net (loss) applicable to common stockholders | $ | (607 | ) | $ | (513 | ) | $ | (1,948 | ) | $ | (2,384 | ) | ||||
| Earnings (loss) per common share – basic and diluted | $ | (0.04 | ) | $ | (0.03 | ) | $ | (0.13 | ) | $ | (0.16 | ) | ||||
| Weighted average common shares outstanding – basic and diluted | 15,289 | 14,796 | 14,924 | 14,793 | ||||||||||||
| INTERLINK ELECTRONICS, INC. RECONCILIATION OF CONSOLIDATED NET LOSS TO CONSOLIDATED ADJUSTED EBITDA (unaudited) | ||||||||||||||||
| Three Months Ended December 31, | Year Ended December 31, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (in thousands) | ||||||||||||||||
| Net (loss) | $ | (574 | ) | $ | (413 | ) | $ | (1,615 | ) | $ | (1,984 | ) | ||||
| Adjustments to arrive at earnings before interest, taxes, depreciation, and amortization (EBITDA): | ||||||||||||||||
| Interest (income) | (2 | ) | (8 | ) | (20 | ) | (54 | ) | ||||||||
| Income tax expense (benefit) | (169 | ) | (33 | ) | (191 | ) | 27 | |||||||||
| Depreciation expense | 49 | 32 | 190 | 143 | ||||||||||||
| Amortization expense | 177 | 182 | 717 | 753 | ||||||||||||
| EBITDA | (519 | ) | (240 | ) | (919 | ) | (1,115 | ) | ||||||||
| Adjustments to arrive at Adjusted EBITDA: | ||||||||||||||||
| Stock-based compensation expense | 8 | 7 | 34 | 43 | ||||||||||||
| Adjusted EBITDA | $ | (511 | ) | $ | (233 | ) | $ | (885 | ) | $ | (1,072 | ) | ||||
FAQ
What were Interlink Electronics (LINK) Q4 2025 revenue and net loss?
Why did Interlink (LINK) gross margin drop in Q4 2025?
How did Interlink's adjusted EBITDA for Q4 2025 compare to last year?
What commercial progress did Interlink (LINK) announce on March 26, 2026?
What is the financial impact of Interlink converting preferred stock in 2025?
Is Interlink (LINK) pursuing acquisitions after the Q4 2025 results?
