Interlink Electronics Reports Third Quarter 2025 Results
Rhea-AI Summary
Interlink Electronics (Nasdaq: LINK) reported third-quarter 2025 results on Nov 12, 2025: Q3 revenue $2.96M, up 10.8% YoY, marking a second consecutive quarter of double-digit growth. Gross margin rose to 41.8% (up 40 bps). Q3 net loss narrowed to $336k versus $523k a year earlier; adjusted EBITDA improved to $(62k) from $(248k). The company converted all Series A preferred into common stock and issued a 50% common stock dividend, aiming to simplify capital structure and improve liquidity. Management highlighted SBIR grants and a Letter of Intent for a U.K. acquisition while pursuing organic growth and M&A opportunities into 2026.
Positive
- Revenue +10.8% YoY to $2.96M in Q3 2025
- Gross margin improved 40 bps to 41.8% in Q3 2025
- Net loss improved $187k year-over-year to $336k
- Adjusted EBITDA improved $186k to $(62k) in Q3 2025
- Converted Series A preferred to common; eliminated overhang
Negative
- Company remains unprofitable with Q3 net loss of $336k
- Adjusted EBITDA still negative at $(62k) in Q3 2025
News Market Reaction 13 Alerts
On the day this news was published, LINK declined 0.19%, reflecting a mild negative market reaction. Argus tracked a trough of -24.8% from its starting point during tracking. Our momentum scanner triggered 13 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $161K from the company's valuation, bringing the market cap to $85M at that time.
Data tracked by StockTitan Argus on the day of publication.
Revenue Up
Building Momentum for 2026 Through Continued Organic Growth and Strengthened M&A Pipeline
FREMONT, Calif., Nov. 12, 2025 (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 third quarter ended September 30, 2025.
Q3 2025 and Recent Highlights
- Revenue Growth: Increased revenue
11% year-over-year to$3.0 million . This marks the Company’s second consecutive quarter of delivering double-digit year-over-year revenue growth. - Optimized Capital Structure: Converted all outstanding Series A Convertible Preferred Stock into common stock, eliminating overhang and enhancing alignment with shareholders. Additionally, the Company issued a
50% common stock dividend, further enhancing liquidity and strengthening shareholder value. - Secured Two Major Design Wins: In October, the Company received a
$200,000 SBIR Phase 1 grant from the U.S. Food & Drug Administration (FDA) to advance electrochemical sensors for food-safety and quality monitoring. In September, Interlink was awarded a$175,000 SBIR grant from the United States Department of Agriculture (USDA) to develop an AI-powered food quality & safety monitoring system. - Continued Momentum in Inorganic Growth Opportunities: Signed Letter of Intent to acquire a U.K.-based engineering and manufacturing company, strengthening Interlink’s European footprint and capabilities alongside its 2023 acquisition of Calman Technology. The Company continues to evaluate a growing pipeline of acquisition opportunities actively and will pursue transactions that align with long-term shareholder value.
Management Commentary
“The third quarter represented another step forward for Interlink,” said Steven N. Bronson, Chairman, President, and CEO. “We delivered our second consecutive quarter of double-digit year-over-year revenue growth, reflecting strong execution and growing demand across our core sensor and printed electronics platforms. In parallel, we secured two competitive U.S. government SBIR grants, underscoring our leadership in innovation and the expanding applicability of our technologies in new markets such as food quality and safety.
“We also took important steps to strengthen our balance sheet and enhance shareholder alignment by converting all outstanding Series A Convertible Preferred Stock into common stock and issuing a
“Looking ahead, we are entering 2026 from a position of strength. With momentum across our product lines, a growing base of strategic partnerships, and an expanding pipeline of acquisition opportunities, we believe the coming year will be a transformative period for Interlink as we move toward consistent profitability and scale.
Consolidated Financial Results
(Amounts in thousands except per share data and percentages)
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||||||||||||||
| 2025 | 2024 | $ ∆ | % ∆ | 2025 | 2024 | $ ∆ | % ∆ | |||||||||||||||||||||
| Revenue | $ | 2,959 | $ | 2,671 | $ | 288 | 10.8 | % | $ | 9,037 | $ | 8,693 | $ | 344 | 4.0 | % | ||||||||||||
| Gross profit | $ | 1,238 | $ | 1,105 | $ | 133 | 12.0 | % | $ | 3,725 | $ | 3,663 | $ | 62 | 1.7 | % | ||||||||||||
| Gross margin | 41.8 | % | 41.4 | % | 41.2 | % | 42.1 | % | ||||||||||||||||||||
| Income (loss) from operations | $ | (313 | ) | $ | (476 | ) | $ | 163 | $ | (1,096 | ) | $ | (1,540 | ) | $ | 444 | ||||||||||||
| Net income (loss) | $ | (336 | ) | $ | (523 | ) | $ | 187 | $ | (1,041 | ) | $ | (1,571 | ) | $ | 530 | ||||||||||||
| Net loss applicable to common stockholders | $ | (436 | ) | $ | (623 | ) | $ | 187 | $ | (1,341 | ) | $ | (1871 | ) | $ | 530 | ||||||||||||
| Earnings (loss) per common share – diluted | $ | (0.03 | ) | $ | (0.04 | ) | $ | 0.01 | $ | (0.09 | ) | $ | (0.13 | ) | $ | 0.04 | ||||||||||||
| Adjusted EBITDA | $ | (62 | ) | $ | (248 | ) | $ | 186 | $ | (377 | ) | $ | (847 | ) | $ | 470 | ||||||||||||
Revenue for the third quarter of 2025 increased
Gross margin for the third quarter of 2025 was
Net loss for the third 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 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) | ||||||||
| September 30, | December 31, | |||||||
| 2025 | 2024 | |||||||
| (in thousands) | ||||||||
| ASSETS | ||||||||
| Current assets | ||||||||
| Cash and cash equivalents | $ | 2,987 | $ | 2,950 | ||||
| Accounts receivable, net | 1,352 | 1,612 | ||||||
| Inventories | 1,798 | 2,009 | ||||||
| Prepaid expenses and other current assets | 269 | 328 | ||||||
| Total current assets | 6,406 | 6,899 | ||||||
| Property, plant and equipment, net | 501 | 411 | ||||||
| Intangible assets, net | 1,507 | 1,874 | ||||||
| Goodwill | 2,576 | 2,658 | ||||||
| Right-of-use assets | 845 | 1,064 | ||||||
| Deferred tax assets | 160 | 82 | ||||||
| Other assets | 86 | 128 | ||||||
| Total assets | $ | 12,081 | $ | 13,116 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current liabilities | ||||||||
| Accounts payable | $ | 727 | $ | 573 | ||||
| Accrued liabilities | 300 | 377 | ||||||
| Lease liabilities, current | 338 | 352 | ||||||
| Accrued income taxes | 161 | 88 | ||||||
| Total current liabilities | 1,526 | 1,390 | ||||||
| Long-term liabilities | ||||||||
| Lease liabilities, long term | 567 | 777 | ||||||
| Deferred tax liabilities | 356 | 456 | ||||||
| Total long-term liabilities | 923 | 1,233 | ||||||
| Total liabilities | 2,449 | 2,623 | ||||||
| Stockholders’ equity | ||||||||
| Preferred stock | 2 | 2 | ||||||
| Common stock | 15 | 15 | ||||||
| Additional paid-in-capital | 62,451 | 62,308 | ||||||
| Accumulated other comprehensive income | 352 | 15 | ||||||
| Accumulated deficit | (53,188 | ) | (51,847 | ) | ||||
| Total stockholders’ equity | 9,632 | 10,493 | ||||||
| Total liabilities and stockholders’ equity | $ | 12,081 | $ | 13,116 | ||||
| INTERLINK ELECTRONICS, INC. CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (in thousands, except per share data) | ||||||||||||||||
| Revenue | $ | 2,959 | $ | 2,671 | $ | 9,037 | $ | 8,693 | ||||||||
| Cost of revenue | 1,721 | 1,566 | 5,312 | 5,030 | ||||||||||||
| Gross profit | 1,238 | 1,105 | 3,725 | 3,663 | ||||||||||||
| Operating expenses: | ||||||||||||||||
| Engineering, research and development | 354 | 486 | 1,151 | 1,572 | ||||||||||||
| Selling, general and administrative | 1,197 | 1,095 | 3,670 | 3,631 | ||||||||||||
| Total operating expenses | 1,551 | 1,581 | 4,821 | 5,203 | ||||||||||||
| (Loss) from operations | (313 | ) | (476 | ) | (1,096 | ) | (1,540 | ) | ||||||||
| Other income (expense), net | 3 | (19 | ) | 33 | 29 | |||||||||||
| (Loss) before income taxes | (310 | ) | (495 | ) | (1,063 | ) | (1,511 | ) | ||||||||
| Income tax expense (benefit) | 26 | 28 | (22 | ) | 60 | |||||||||||
| Net (loss) | $ | (336 | ) | $ | (523 | ) | $ | (1,041 | ) | $ | (1,571 | ) | ||||
| Net (loss) applicable to common stockholders | $ | (436 | ) | $ | (623 | ) | $ | (1,341 | ) | $ | (1,871 | ) | ||||
| Earnings (loss) per common share – basic and diluted | $ | (0.03 | ) | $ | (0.04 | ) | $ | (0.09 | ) | $ | (0.13 | ) | ||||
| Weighted average common shares outstanding – basic and diluted | 14,813 | 14,793 | 14,802 | 14,792 | ||||||||||||
| INTERLINK ELECTRONICS, INC. RECONCILIATION OF CONSOLIDATED NET LOSS TO CONSOLIDATED ADJUSTED EBITDA (unaudited) | ||||||||||||||||
| Three Months Ended September 30, | Nine Months Ended September 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (in thousands) | ||||||||||||||||
| Net (loss) | $ | (336 | ) | $ | (523 | ) | $ | (1,041 | ) | $ | (1,571 | ) | ||||
| Adjustments to arrive at earnings before interest, taxes, depreciation, and amortization (EBITDA): | ||||||||||||||||
| Interest (income) | (5 | ) | (14 | ) | (18 | ) | (46 | ) | ||||||||
| Income tax expense (benefit) | 26 | 28 | (22 | ) | 60 | |||||||||||
| Depreciation expense | 48 | 36 | 143 | 112 | ||||||||||||
| Amortization expense | 183 | 189 | 539 | 571 | ||||||||||||
| EBITDA | (84 | ) | (284 | ) | (399 | ) | (874 | ) | ||||||||
| Adjustments to arrive at Adjusted EBITDA: | ||||||||||||||||
| Stock-based compensation expense | 22 | 36 | 22 | 27 | ||||||||||||
| Adjusted EBITDA | $ | (62 | ) | $ | (248 | ) | $ | (377 | ) | $ | (847 | ) | ||||
FAQ
What were Interlink Electronics (LINK) Q3 2025 revenue and YoY change?
How did Interlink (LINK) Q3 2025 profitability metrics change?
What capital-structure actions did Interlink (LINK) announce on Nov 12, 2025?
Did Interlink (LINK) win any government grants in Q3 2025?
What M&A activity did Interlink (LINK) disclose in November 2025?
How does Interlink (LINK) describe its outlook entering 2026?
