NORTON, Mass., Nov. 03, 2026 (GLOBE NEWSWIRE) -- CPS Technologies Corp. (NASDAQ:CPSH) (“CPS” or the “Company”) today announced financial results for its fiscal third quarter ended September 26, 2026.

Third Quarter Summary

• Revenue of $8.9 million, reflecting strong ongoing demand for the Company’s growing array of mission-critical products.         
• Gross margin of 20.9 percent and operating profit of $0.4 million.
• Announced that the Company had received its first order from a defense contractor for tungsten alloy components manufactured using the Company’s proprietary QuickSet Injection Molding^TM process.
• CPS also signed a long-term lease during the quarter for an 80,000-square-foot facility – approximately twice the size of its current location – in Attleboro, Massachusetts to expand production and increase efficiency.
• Received new volume orders from an existing customer and large semiconductor manufacturer establishing continued deliveries into fiscal 2027.
  
  

“We are pleased to report solid progress this quarter on a number of fronts,” said Brian Mackey, President and CEO. “Due to higher demand and increased production, our quarterly revenue rose to a new high for our company and gross margins expanded to 20.9% – a level not seen in more than three years. This proves the resilience of our product lines, interest in our broadening portfolio of offerings, and sound operating execution. We also recently announced the signing of a lease in nearby Attleboro that will allow CPS to further expand operations in support of increased top line growth and higher returns for our shareholders. Detailed planning is well underway with the support of Dacon Corporation, our construction management partner, as well as various engineers and contractors. While exploring ways to potentially initiate a partial move earlier in 2027, complex production requirements likely mean the full buildout will continue into the second half of next year. In the meantime, I’m also pleased to announce that, once again, we have secured significant volume orders for our high-performance products from the Company’s biggest customer, a semiconductor manufacturer, at levels consistent with the prior-year period. These components are integrated into systems supporting high-speed rail as well as energy and grid infrastructure. Given this backdrop, we believe the Company is in excellent shape for continued growth and higher financial results heading into fiscal 2027.”

Results of Operations
CPS reported revenue of $8.9 million for the third quarter of fiscal 2026 versus $8.8 million in the prior-year period. Gross profit was $1.9 million, or 20.9 percent of revenue, versus $1.5 million, or 17.1 percent of revenue, in the fiscal 2025 third quarter.

Operating profit was $0.4 million in the fiscal 2026 third quarter compared with $0.3 million in the prior-year period; SG&A expenses rose approximately $0.3 million year-over-year. Reported net income for the quarter was $0.3 million, or $0.02 per diluted share, versus $0.2 million, or $0.01 per diluted share, in the quarter ended September 27, 2025.

Conference Call
The Company will be hosting its third quarter 2026 earnings call tomorrow, November 4, 2026, at 9:00 a.m. Eastern. Those interested in participating in the conference call should dial the following: 
Call in Number: 1-844-943-2942
Participant Passcode: 258164

The Company encourages those who wish to participate to call in 10 minutes before the scheduled start time to ensure the operator can connect all participants.

About CPS
CPS is an advanced materials company that designs, manufactures, and sells high-performance material solutions to global customers in transportation, energy, automotive, electronics, telecommunications, aerospace, and defense. The company specializes in proprietary metal matrix composites (MMCs), combining metals and ceramics to deliver superior strength, thermal management, and reliability for demanding applications such as high-speed rail, HVDC systems, mass transit, electric vehicles, internet equipment, and electrical infrastructure. CPS also produces hermetic packaging for high-reliability power and communications modules, supporting avionics, GPS, microprocessors, and specialized integrated circuits. Additionally, its lightweight HybridTech Armor® provides high strength-to-weight protection. CPS focuses on innovation, quality, and diversified high-growth markets to drive sustained, profitable growth. The Company’s Vision is ”to pioneer the next generation of high-performance materials and solve the world’s toughest engineering challenges.”

Safe Harbor
Statements made in this document that are not historical facts or which apply prospectively, including those relating to 2025 financial results, are forward-looking statements that involve risks and uncertainties. These forward-looking statements are identified by the use of terms and phrases such as "will," "intends," "believes," "expects," "plans," "anticipates" and similar expressions. Investors should not rely on forward looking statements because they are subject to a variety of risks and uncertainties and other factors that could cause actual results to differ materially from the company's expectation. Additional information concerning risk factors is contained from time to time in the company's SEC filings, including its Annual Report on Form 10-K and other periodic reports filed with the SEC. Forward-looking statements contained in this press release speak only as of the date of this release. Subsequent events or circumstances occurring after such date may render these statements incomplete or out of date. The company expressly disclaims any obligation to update the information contained in this release.

CPS Technologies Corporation 
111 South Worcester Street
Norton, MA 02766
www.cpstechnologysolutions.com

Investor Relations:
Chris Witty
646-438-9385
cwitty@darrowir.com