Interlink Electronics Reports Fourth Quarter and Full Year 2024 Results

Interlink Electronics, Inc., a leading provider of sensors and printed electronic solutions, has released its financial results for the fourth quarter and full year ending December 31, 2024. The company, known for its innovative Human-Machine Interface devices and Internet-of-Things solutions, has highlighted several key financial and operational metrics in its latest SEC 8-K filing.

Financial Highlights

For the fourth quarter of 2024, Interlink Electronics reported a revenue of $3.0 million, a decrease from $3.5 million in the same period of 2023. The decline was primarily due to lower shipments of traditional force-sensor products, partially offset by higher sales in the Gas and Environmental Sensors division and increased sales of printed electronics at its Calman Technology subsidiary. The gross profit margin also saw a slight decline to 39.6% from 41.0% in the previous year.

The net loss for the fourth quarter was $413,000, an improvement from a net loss of $448,000 in the same period of 2023. Adjusted EBITDA for the quarter was $(233,000) compared to $(1,000) in the fourth quarter of 2023.

For the full year 2024, revenue was $11.7 million, down from $13.9 million in 2023. The gross profit margin for the year was 41.5%, compared to 47.1% in the prior year. The net loss for the year was $2.0 million, compared to $383,000 in 2023. Adjusted EBITDA for the full year was $(1.1) million, compared to $447,000 in the previous year.

Business and Operational Highlights

• Acquired UK-based Conductive Transfers Limited and its affiliate, Global Print Solutions Limited, enhancing capabilities in the wearables and smart textiles market.
• Awarded a $400,000 SBIR Phase II grant from NIST to advance high-volume manufacturing techniques for printed gas sensors.
• Awarded a $150,000 SBIR Phase I grant from NASA to develop integrated systems for early identification of factors affecting air quality.
• Unveiled the 110-37x sensor family at CES 2025, introducing industry-first electrochemical sensors for detecting natural gas odorants.
• Strengthened leadership team with key appointments and promotions to support strategic growth.
• Designated its new Fremont, California facility as its corporate headquarters.

Strategic Initiatives and Corporate Developments

The acquisition of Conductive Transfers Limited and its affiliate is a significant strategic move, positioning Interlink Electronics in the high-growth market of e-textiles and wearables. This acquisition is expected to broaden the company's product offerings across various sectors, including healthcare, apparel, automotive, and more.

The company also received significant government grants to support its research and development initiatives, particularly in the area of gas sensors. These grants are expected to aid in the development of automated production tools and testing methods, essential for scaling sensor output to over 10 million units annually.

Management's Perspective

Steven N. Bronson, Chairman, President, and CEO of Interlink Electronics, commented on the results, stating, "2024 marked the beginning of an exciting new chapter for Interlink, driven by continued innovation, key leadership appointments, and the strategic acquisition of Conductive Transfers Limited. With Conductive Transfers, we’ve expanded into the high-growth market of e-textiles and wearables, broadening our product offerings across healthcare, apparel, automotive, and more."

Bronson further emphasized the company's focus on driving growth across all divisions and leveraging synergies across its network to broaden its footprint. He highlighted the designation of the Fremont facility as the corporate headquarters as a strategic move to strengthen the company's presence in Silicon Valley and support global expansion efforts.

Future Outlook

Looking ahead to 2025, Interlink Electronics remains focused on driving growth across all divisions. The company aims to unlock synergies across its network and leverage common sales partners to broaden its footprint. With a strong capital position, a unified leadership team, and growing demand for its advanced sensor and printed electronics solutions, Interlink Electronics believes it is well-positioned to deliver long-term value for its shareholders.

SEC Filing: INTERLINK ELECTRONICS INC [ LINK ] - 8-K - Mar. 28, 2025