Interlink Electronics Reports Fourth Quarter and Full Year 2024 Results
FREMONT, Calif., March 27, 2025 /PRNewswire/ -- Interlink Electronics, Inc. (NASDAQ:LINK) ("Interlink" or the "Company"), a world-leading provider of sensors and printed electronic solutions that support a wide range of applications including Human-Machine Interface devices and Internet-of-Things solutions, today reported financial results for the quarter and year ended December 31, 2024.
Fourth Quarter 2024 and Recent Operational Highlights
Acquired UK-based Conductive Transfers Limited and its affiliate, Global Print Solutions Limited, including their patented processes for integrating electronics with textiles to create functional e-textiles and wearable technology. The strategic acquisition enhances Interlink's capabilities in the high-growth market of wearables and smart textiles, expanding its product offerings across various sectors, including apparel, healthcare, medical, and automotive.
Awarded a $400,000 SBIR Phase II grant from NIST to advance high-volume manufacturing techniques for printed gas sensors. This funding will support the development of automated production tools and testing methods essential for scaling sensor output to over 10 million units annually, targeting expanded applications in consumer markets.
Awarded a $150,000 SBIR Phase I grant from NASA to develop integrated systems and predictive models for early identification of factors affecting air quality. This initiative highlights Interlink's expertise in gas sensor research and aims to create accurate, low-power, and cost-effective outdoor air quality monitoring nodes that seamlessly integrate with NASA's Remote Sensing Network.
Unveiled the 110-37x sensor family at CES 2025, introducing industry-first electrochemical sensors capable of detecting Tert-Butyl Mercaptan (TBM) and Tetra-Hydrothiophene (THT), compounds added to natural gas for leak detection. These sensors aim to enhance safety in domestic, commercial, and industrial environments by providing automated and reliable detection of natural gas odorants.
Strengthened its leadership team with the appointment of Lars Timmer as Senior Business Development Manager in Europe and the promotions of Declan Flannery to VP of Strategic Alliances and Dr. Sreeni Rao to VP of Product Management. These moves support the company's strategic growth across global markets and product lines.
Designated its new Fremont, California (Silicon Valley) facility, which drives gas sensor and instrument R&D and product development, as its corporate headquarters.
Management Commentary
"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," said Steven N. Bronson, Chairman, President, and CEO of Interlink Electronics. "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. We also made significant advancements in our sensor technologies, underscored by multiple government grants and the launch of our groundbreaking 110-37x gas sensor family at the outset of 2025.
"As we look toward 2025, we remain focused on driving growth across all divisions of the company. After a year of significant progress, our product portfolio is now strategically positioned for organic growth as we unlock synergies across our network and leverage common sales partners to broaden our footprint. The designation of our Fremont facility as our corporate headquarters further strengthens our presence in the heart of Silicon Valley and supports our global expansion efforts.
"With a strong capital position, a unified leadership team, and growing demand for our advanced sensor and printed electronics solutions, we believe we are well positioned to deliver long-term value for our shareholders."
Consolidated Financial Results
(Amounts in thousands except per share data and percentages)
Three Months Ended December 31,
Year Ended December 31,
2024
2023
$ ∆
% ∆
2024
2023
$ ∆
% ∆
Revenue
$
2,986
$
3,538
$
(552)
(15.6) %
$
11,679
$
13,940
$
(2,261)
(16.2) %
Gross profit
$
1,183
$
1,452
$
(269)
(18.5) %
$
4,846
$
6,559
$
(1,713)
(26.1) %
Gross margin
39.6 %
41.0 %
41.5 %
47.1 %
Loss from operations
$
(510)
$
(570)
$
60
10.5 %
$
(2,050)
$
(439)
$
(1,611)
(367.0) %
Net loss
$
(413)
$
(448)
$
35
7.8 %
$
(1,984)
$
(383)
$
(1,601)
(418.0) %
Net loss applicable to common stockholders
$
(513)
$
(548)
$
35
6.4 %
$
(2,384)
$
(783)
$
(1,601)
(204.5) %
Earnings (loss) per common share, diluted
$
(0.05)
$
(0.06)
$
0.01
16.7 %
$
(0.24)
$
(0.08)
$
(0.16)
(200.0) %
Adjusted EBITDA
$
(233)
$
(1)
$
(232)
$
(1,081)
$
447
$
(1,528)
Fourth Quarter 2024 Financial Results
Revenue was $3.0 million, compared to $3.5 million in the fourth quarter of 2023. The decrease was primarily driven by lower shipments of traditional force-sensor products, partially offset by higher sales in our Gas and Environmental Sensors division and increased sales of printed electronics and other products at our Calman Technology subsidiary. Revenue was also impacted by fluctuations in customer demand, which can vary from period to period based on customers' order flow and production cycles, affecting both the timing and volume of orders.
Gross profit margin was 39.6%, compared to 41.0% in the year-ago period. The decline was primarily due to lower revenue and a less favorable product mix.
Net ...
