CVD Equipment Corporation filings document material events, operating results, shareholder voting matters, and governance disclosures for a Nasdaq-listed equipment manufacturer. Recent Form 8-K reports include results of operations and financial condition, as well as the completed disposition of the Stainless Design Concepts business division and related asset-sale and facility-lease disclosures.
The company’s proxy materials and annual meeting reports cover board elections, auditor ratification, advisory executive-compensation votes, and other shareholder matters. Its filings provide formal records for corporate actions, financial reporting updates, material agreements, and governance procedures tied to CVD’s chemical vapor deposition, thermal processing, and physical vapor transport equipment business.
CVD Equipment Corporation (CVV) is asking shareholders to elect five directors—Lawrence J. Waldman, Andrew Africk, Robert M. Brill, Ashraf Lotfi and Debra Wasser—ratify CBIZ CPAs P.C. as its independent registered public accounting firm for 2026, and cast a non-binding advisory vote on named executive officer compensation. The virtual annual meeting is November 5, 2026. Common shareholders as of September 16, 2026, may vote; 6,951,203 shares were outstanding on that date.
Emmanuel Lakios and the Board mutually agreed on September 3, 2026, that he would leave the President and Chief Executive Officer role and the Board, effective immediately. Warren D. Cheesman was appointed Acting Chief Executive Officer that day. CVD says it will pay Lakios his $415,000 annual base salary and employee benefits through October 2, 2026, then his base salary and the employer portion of his existing medical benefits for nine months.
CVD Equipment Corporation (CVV) announced a major restructuring of its CVD equipment business and a leadership change. The Board decided the company will no longer pursue new system orders for this business and will instead focus on its spare parts, quartz and services activities, while completing its remaining equipment backlog and warranty obligations.
The plan includes a workforce reduction of approximately half, with an expected restructuring charge of $0.8–$1.0 million in the quarter ending September 30, 2026, mainly for severance and related costs. The Board is also evaluating additional cost reductions and ways to monetize assets, including potential alternatives involving its primary facility in Central Islip, and other business opportunities consistent with its resources.
Effective September 3, 2026, President and CEO Emmanuel Lakios mutually agreed with the Board to conclude his employment and Board service. He will receive salary and benefits through October 2, 2026, plus nine months of salary and medical benefits thereafter. Warren Cheesman, previously Vice President of Manufacturing Operations, was appointed Acting CEO. Chairman Lawrence J. Waldman highlighted that at the end of the second quarter of 2026 the company held $23.5 million in cash and no debt, emphasizing liquidity as it executes this transition.
CVD Equipment Corporation reported second-quarter 2026 results reflecting a major portfolio shift and weaker core operations. Revenue from continuing operations was $1.95 million, down 42.6% from the prior-year quarter, and the company recorded a net loss from continuing operations of $1.37 million. Including the divestiture of its SDC business, income from discontinued operations reached $13.94 million, driving net income to $12.57 million, or $1.81 per share. For the first half of 2026, revenue was $3.80 million versus $9.74 million in 2025, with a $3.10 million loss from continuing operations but $10.90 million net income after discontinued operations.
The April 2026 sale of SDC generated $17.40 million total consideration and a $13.50 million net gain, leaving CVD with $23.5 million in cash and no debt at June 30, 2026. Working capital was $25.8 million. Backlog declined to $3.9 million, and bookings for Q2 were about $1.2 million. The company expects existing cash, receivables, contract assets and backlog to cover its needs for at least 12 months, but highlights order volatility, customer concentration, and macro/geopolitical risks.
CVD Equipment Corporation reported second quarter 2026 results shaped by the sale of its SDC division and weak demand in continuing operations. The company completed the divestiture of SDC on April 1, 2026 for $17.4 million, generating approximately $15.0 million in net cash proceeds. This drove a $13.9 million gain from discontinued operations and quarterly net income of $12.6 million, compared with a net loss a year earlier.
After the transaction, cash and cash equivalents rose to $23.5 million with no long-term debt, and stockholders’ equity increased to $36.0 million from $24.7 million at December 31, 2025. However, continuing operations remained challenged: Q2 revenue was $2.0 million, down 42.6% from the prior-year quarter, with an operating loss from continuing operations of $1.6 million and a net loss from continuing operations of $1.4 million. Orders were $1.2 million and backlog was $3.9 million at June 30, 2026, below the prior quarter. The company noted the customer for a $0.8 million system order filed a prepackaged Chapter 11 case, and is evaluating potential impacts.
CVD Equipment Corporation reported a sharp downturn in its core business while completing a major divestiture. For the quarter ended March 31, 2026, revenue from continuing operations fell to $1.8 million from $6.3 million, driving gross margin down to 8.0% and a net loss of $1.7 million from continuing operations. Including discontinued operations, the company recorded an overall net loss of $1.7 million versus net income of $0.4 million a year earlier.
The company sold its SDC business division for $16.9 million in cash, generating net proceeds of $14.8 million and lifting cash to about $23 million after closing, with no long‑term debt. SDC contributed $2.4 million of revenue and $0.5 million of income before transaction costs in the quarter but is now reported as discontinued operations. Continuing bookings improved to roughly $1.8 million versus $0.8 million a year earlier, and backlog remained at $4.7 million, but management highlights significant uncertainty in key end markets such as silicon carbide wafers and aerospace.
CVD Equipment Corporation reported a much weaker first quarter of 2026 while completing the sale of its SDC division. From continuing operations, revenue was $1.84 million, down 70.9% from $6.33 million a year earlier, mainly due to lower CVD system bookings. Gross margin fell to 8.0% from 27.4%, and the company posted a net loss from continuing operations of $1.73 million, or ($0.25) per share, versus a ($0.03) loss per share last year.
The SDC sale, completed April 1, 2026, generated $14.8 million in net cash proceeds, leaving CVD with about $23 million in cash and no long-term debt. Management is restructuring operations, including a previously announced workforce reduction, expected to lower annual operating costs by about $1.8 million in fiscal 2026. Orders improved to $1.8 million, up from $0.8 million, and backlog remained $4.7 million at March 31, 2026, as the company focuses on aerospace, silicon carbide, EV battery materials and other industrial markets.
CVD Equipment Corporation has completed the sale of substantially all assets of its Stainless Design Concepts division to a subsidiary of the Atlas Copco Group for approximately $16.9 million in cash, subject to customary adjustments. After expenses and taxes, net cash proceeds are about $15.0 million, with $900,000 held in escrow for potential post-closing adjustments and indemnification.
The company retained ownership of its Saugerties, New York facility and will lease it to the buyer for an initial two-year term, generating initial annual rent of $182,750. Pro forma data for the year ended December 31, 2025 show revenue from continuing operations of $18.2 million and a net loss of $3.1 million, reflecting the removal of SDC’s results.
CVD Equipment Corporation reported a challenging year while restructuring its business and agreeing to sell its SDC division. Revenue for 2025 fell by $1.1 million, or 4.1%, but gross profit rose $1.2 million, or 20.4%, helped by prior inventory charges not repeating. New bookings dropped sharply to $13.0 million from $28.1 million, and backlog declined to $6.6 million from $19.4 million, reflecting weaker demand for CVD Equipment systems. Cash decreased to $8.7 million from $12.6 million as the company navigated lower orders and transformation costs. In November 2025, the board approved a plan to shift CVD Equipment from vertically integrated fabrication to outsourced components, cut workforce and other expenses, and reduce annual operating costs by about $1.8 million, including $0.1 million of severance and $0.2 million of non-cash impairment. On March 23, 2026, CVD agreed to sell its SDC gas and chemical delivery business to a subsidiary of Atlas Copco for approximately $16.9 million in cash, expecting about $15.0 million in net proceeds, with $900,000 held in escrow, while retaining and leasing back the Saugerties facility.
CVD Equipment Corporation reported weaker results for the fourth quarter and full year 2025 and agreed to sell its SDC business division for approximately $16.9 million in cash. Fourth quarter 2025 revenue was $5.0 million, down 33.1% year over year, with a net loss of $1.3 million or $(0.18) per share.
For fiscal 2025, revenue was $25.8 million, down 4.1%, and the net loss narrowed to $1.6 million or $(0.23) per share. Cash and cash equivalents were $8.7 million at December 31, 2025. The SDC sale to Atlas Copco is expected to close in the second quarter of 2026, with net cash proceeds of about $15.0 million and $900,000 held in escrow. The company also executed a workforce reduction expected to lower annual operating costs by roughly $1.8 million in 2026 and plans to focus on its core CVD Equipment business.
CVD Equipment Corporation has signed a definitive agreement to sell all or substantially all assets of its Stainless Design Concepts (SDC) division to the Atlas Copco Group for $16.9 million in cash, subject to purchase price adjustments. About $900,000 of this amount will be held in escrow for post-closing adjustments and indemnification obligations.
The company expects net cash proceeds of approximately $15.0 million after expenses and taxes. CVD will retain ownership of its Saugerties, New York facility and lease it to the buyer for an initial term of two years after closing. Management states the divestiture aligns with previously announced strategic alternatives, is intended to strengthen the balance sheet, and will let CVD focus on its core equipment business in Central Islip, New York. The transaction is expected to close in the second quarter of 2026, subject to customary closing conditions.