LINK 10-Q
Interlink Electronics Inc (LINK)
UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
For the quarterly period ended
or
For the transition period from __________________ to ______________________.
Commission file number
(Exact name of registrant as specified in its charter)
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(State or other jurisdiction of | (I.R.S. Employer | |
incorporation or organization) | Identification No.) |
(Address of principal executive offices, zip code)
(
(Registrant’s telephone number, including area code)
Securities registered pursuant to Section 12(b) of the Act:
Title of each class | | Trading Symbol(s) | | Name of each exchange on which registered |
The |
Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days.
Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files).
Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act:
Large accelerated filer ☐ | | Accelerated filer ☐ |
Smaller reporting company | ||
Emerging growth company |
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes
As of August 13, 2026, the issuer had
INTERLINK ELECTRONICS, INC.
TABLE OF CONTENTS
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Management’s Discussion and Analysis of Financial Condition and Results of Operations | 22 | |
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PART I: FINANCIAL INFORMATION
Item 1. Financial Statements
INTERLINK ELECTRONICS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
(unaudited)
June 30, | December 31, | |||||
| 2026 | | 2025 | |||
| (in thousands, except par value) | |||||
ASSETS | ||||||
Current assets | ||||||
Cash and cash equivalents |
| $ | |
| $ | |
Accounts receivable, net | | | ||||
Inventories | | | ||||
Prepaid expenses and other current assets | | | ||||
Total current assets | | | ||||
Property, plant and equipment, net | | | ||||
Intangible assets, net | | | ||||
Goodwill | | | ||||
Right-of-use assets | | | ||||
Deferred tax assets | | | ||||
Other assets | | | ||||
Total assets |
| $ | |
| $ | |
LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||
Current liabilities | ||||||
Accounts payable |
| $ | |
| $ | |
Accrued liabilities | | | ||||
Lease liabilities, current | | | ||||
Accrued income taxes | | | ||||
Total current liabilities | | | ||||
Long-term liabilities | ||||||
Lease liabilities, long term | | | ||||
Deferred tax liabilities | | | ||||
Total long-term liabilities | | | ||||
Total liabilities | | | ||||
Commitments and contingencies (Note 9) | ||||||
Stockholders’ equity | ||||||
Preferred stock, $ | ||||||
Common stock, $ | | | ||||
Additional paid-in-capital | | | ||||
Accumulated other comprehensive income | | | ||||
Accumulated deficit | ( | ( | ||||
Total stockholders’ equity | | | ||||
Total liabilities and stockholders’ equity |
| $ | |
| $ | |
See accompanying notes to these unaudited condensed consolidated financial statements.
3
INTERLINK ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(unaudited)
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| 2026 | | 2025 | | 2026 | | 2025 | |||||
| (in thousands, except per share data) | |||||||||||
Revenue |
| $ | |
| $ | |
| $ | |
| $ | |
Cost of revenue | | | | | ||||||||
Gross profit | | | | | ||||||||
Operating expenses: | ||||||||||||
Engineering, research and development | | | | | ||||||||
Selling, general and administrative | | | | | ||||||||
Total operating expenses | | | | | ||||||||
Income (loss) from operations | | | ( | ( | ||||||||
Other income (expense), net | ( | | | | ||||||||
Income (loss) before income taxes | | | ( | ( | ||||||||
Income tax expense (benefit) | ( | ( | ( | ( | ||||||||
Net income (loss) | $ | | $ | | $ | ( | $ | ( | ||||
Net income (loss) applicable to common stockholders |
| $ | |
| $ | — |
| $ | ( |
| $ | ( |
Earnings (loss) per common share – basic and diluted | $ | | $ | — | $ | ( | $ | ( | ||||
Weighted average common shares outstanding – basic | | | | | ||||||||
Weighted average common shares outstanding – diluted | | | | | ||||||||
See accompanying notes to these unaudited condensed consolidated financial statements.
4
INTERLINK ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE INCOME (LOSS)
(unaudited)
Three Months Ended June 30, |
| Six Months Ended June 30, | ||||||||||
| 2026 | | 2025 | | 2026 | | 2025 | |||||
(in thousands) | ||||||||||||
Net income (loss) | $ | | $ | | $ | ( | $ | ( | ||||
Other comprehensive income (loss), net of tax: |
| |||||||||||
Foreign currency translation adjustments |
| |
| | ( | | ||||||
Comprehensive income (loss) | $ | | $ | | $ | ( | $ | ( | ||||
See accompanying notes to these unaudited condensed consolidated financial statements.
5
INTERLINK ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY
(unaudited)
| | | | | Accumulated | | | |||||||||||||||
Additional | Other | Total | ||||||||||||||||||||
Preferred Stock | Common Stock | Paid-in- | Comprehensive | Accumulated | Stockholders’ | |||||||||||||||||
Three Months Ended June 30, 2026 | | Shares | | Amount | | Shares | | Amount | | Capital | | Income (Loss) | | Deficit | | Equity | ||||||
(in thousands) |
| |||||||||||||||||||||
Balance at March 31, 2026 |
| — | $ | — | | $ | | $ | | $ | | $ | ( | $ | | |||||||
Net income |
| — | — | — |
| — |
| — |
| — |
| |
| | ||||||||
Stock-based compensation expense |
| — | — | — |
| — |
| |
| — |
| — |
| | ||||||||
Foreign currency translation adjustment |
| — | — | — |
| — |
| — |
| |
| — |
| | ||||||||
Balance at June 30, 2026 |
| — | $ | — | | $ | | $ | | $ | | $ | ( | $ | | |||||||
| | | | | Accumulated | | | |||||||||||||||
Additional | Other | Total | ||||||||||||||||||||
Preferred Stock | Common Stock | Paid-in- | Comprehensive | Accumulated | Stockholders’ | |||||||||||||||||
Six Months Ended June 30, 2026 | | Shares | | Amount | | Shares | | Amount | | Capital | | Income (Loss) | | Deficit | | Equity | ||||||
(in thousands) |
| |||||||||||||||||||||
Balance at December 31, 2025 |
| — | $ | — | | $ | | $ | | $ | | $ | ( | $ | | |||||||
Net (loss) | — | — | — |
| — |
| — |
| — |
| ( |
| ( | |||||||||
Stock-based compensation expense |
| — | — | — |
| — |
| |
| — |
| — |
| | ||||||||
Foreign currency translation adjustment |
| — | — | — |
| — |
| — |
| ( |
| — |
| ( | ||||||||
Balance at June 30, 2026 |
| — | $ | — | | $ | | $ | | $ | | $ | ( | $ | | |||||||
| | | | | Accumulated | | | |||||||||||||||
Additional | Other | Total | ||||||||||||||||||||
Preferred Stock | Common Stock | Paid-in- | Comprehensive | Accumulated | Stockholders’ | |||||||||||||||||
Three Months Ended June 30, 2025 | | Shares | | Amount | | Shares | | Amount | | Capital | | Income (Loss) | | Deficit | | Equity | ||||||
(in thousands) | ||||||||||||||||||||||
Balance at March 31, 2025 | | $ | | | $ | | $ | | $ | | $ | ( | $ | | ||||||||
Net income | — | — | — |
| — |
| — |
| — |
| |
| | |||||||||
Stock-based compensation expense | — | — | — | — | | — | — | | ||||||||||||||
Preferred stock dividends | — | — | — | — | — | — | ( | ( | ||||||||||||||
Foreign currency translation adjustment | — | — | — |
| — |
| — |
| |
| — |
| | |||||||||
Balance at June 30, 2025 | | $ | | | $ | | $ | | $ | | $ | ( | $ | | ||||||||
| | | | | Accumulated | | | |||||||||||||||
Additional | Other | Total | ||||||||||||||||||||
Preferred Stock | Common Stock | Paid-in- | Comprehensive | Accumulated | Stockholders’ | |||||||||||||||||
Six Months Ended June 30, 2025 | | Shares | | Amount | | Shares | | Amount | | Capital | | Income (Loss) | | Deficit | | Equity | ||||||
(in thousands) |
| |||||||||||||||||||||
Balance at December 31, 2024 |
| | $ | | | $ | | $ | | $ | | $ | ( | $ | | |||||||
Net (loss) |
| — | — | — |
| — |
| — |
| — |
| ( |
| ( | ||||||||
Stock-based compensation expense |
| — | — | — |
| — |
| |
| — |
| — |
| | ||||||||
Preferred stock dividends |
| — | — | — |
| — |
| — |
| — |
| ( |
| ( | ||||||||
Foreign currency translation adjustment | — | — | — |
| — |
| — |
| |
| — |
| | |||||||||
Balance at June 30, 2025 |
| | $ | | | $ | | $ | | $ | | $ | ( | $ | | |||||||
See accompanying notes to these unaudited condensed consolidated financial statements.
6
INTERLINK ELECTRONICS, INC.
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(unaudited)
Six Months Ended June 30, | ||||||
| 2026 | | 2025 | |||
(in thousands) | ||||||
Cash flows from operating activities: | ||||||
Net (loss) |
| $ | ( |
| $ | ( |
Adjustments to reconcile net (loss) to net cash (used in) operating activities: | ||||||
Depreciation and amortization | | | ||||
Stock-based compensation expense | | | ||||
Adjustment to reconcile operating lease expense to cash paid | ( | ( | ||||
Deferred income taxes | ( | ( | ||||
Changes in operating assets and liabilities: | ||||||
Accounts receivable | ( | ( | ||||
Inventories | | | ||||
Prepaid expenses and other assets | ( | | ||||
Accounts payable | ( | ( | ||||
Accrued liabilities | | ( | ||||
Accrued income taxes | | | ||||
Net cash (used in) operating activities | ( | ( | ||||
Cash flows from investing activities: | ||||||
Purchases of property, plant and equipment | ( | ( | ||||
Net cash (used in) investing activities | ( | ( | ||||
Cash flows from financing activities: | ||||||
Payment of dividends on preferred stock | — | ( | ||||
Net cash (used in) financing activities | — | ( | ||||
Effect of exchange rate changes on cash | ( | | ||||
Net (decrease) in cash and cash equivalents | ( | ( | ||||
Cash and cash equivalents, beginning of period | | | ||||
Cash and cash equivalents, end of period |
| $ | |
| $ | |
Supplemental disclosure of cash flow information: | ||||||
Income taxes paid |
| $ | |
| $ | |
Interest paid | — | — | ||||
Supplemental disclosure of non-cash investing and financing activities: | ||||||
Lease liabilities arising from obtaining right-of-use assets | $ | | $ | | ||
See accompanying notes to these unaudited condensed consolidated financial statements.
7
INTERLINK ELECTRONICS, INC.
Notes to Condensed Consolidated Financial Statements
(unaudited)
Note 1 – The Company and its Significant Accounting Policies
Description of Business
Interlink Electronics, Inc. (“Interlink,” “we,” “us,” “our,” or the “Company”) is a leading global provider of advanced sensing technologies and printed electronics solutions that enable Human-Machine Interface (“HMI”) devices and Internet-of-Things (“IoT”) applications. Our broad product and technology portfolio spans force and touch sensors, piezoelectric sensors, rugged HMI devices, wearable and textile-based sensors and electrochemical gas and environmental sensors, along with instruments and fully integrated systems based on our sensor technologies.
We serve global blue-chip customers and innovative emerging companies across diverse end-use markets, including medical, industrial, automotive, consumer electronics, wearables, environmental monitoring, and specialty applications. Our technical and engineering expertise in materials science, printed electronics manufacturing, embedded electronics, and related firmware, software, and system integration allows us to deliver high-performance, cost-effective standard and custom solutions tailored to our customers’ unique requirements.
We were incorporated in California in 1985, re-incorporated in Delaware in 1996, and changed our domicile to Nevada in 2012. Our principal executive office is located at 48389 Fremont Boulevard, Suite 110, Fremont, California 94538, and our telephone number is (510) 244-0424. Our website address is www.interlinkelectronics.com. We make our annual reports on Form 10-K, quarterly reports on Form 10-Q, current reports on Form 8-K, and any amendments to those reports available free of charge on our website as soon as reasonably practicable after they are electronically filed with, or furnished to, the Securities and Exchange Commission.
October 2025 Common Stock Dividend
On September 24, 2025, the Company declared a
Fiscal Year
Our fiscal year is the calendar year reporting cycle beginning January 1 and ending December 31.
Basis of Presentation
Our consolidated financial statements include the accounts of Interlink Electronics, Inc. and our subsidiaries in China, Hong Kong, and the United Kingdom. All significant intercompany transactions and balances have been eliminated in consolidation.
The accompanying unaudited interim consolidated financial statements for the Company and its subsidiaries have been prepared in accordance with U.S. generally accepted accounting principles (“GAAP”) for interim financial reporting. Accordingly, certain information and footnote disclosures normally included in annual consolidated financial statements have been condensed or omitted in accordance with Rule 10-01 of Regulation S-X. In the opinion of management, the accompanying unaudited interim consolidated financial statements reflect all adjustments (consisting of only normal recurring adjustments and the elimination of intra-entity accounts) considered necessary for a fair presentation of all periods presented. The results of the Company’s operations for any interim period are not necessarily indicative of the results of operations for any other interim period or for a full fiscal year. These unaudited interim consolidated financial statements should be read in conjunction with the consolidated financial statements and footnotes included in our Annual Report on Form 10-K, which was filed with the Securities and Exchange Commission on March 26, 2026.
8
Use of Estimates
The preparation of consolidated financial statements in accordance with GAAP requires management to make estimates and assumptions that affect the amounts reported in the consolidated financial statements and disclosures made in the accompanying notes to the consolidated financial statements. Management regularly evaluates estimates and assumptions related to revenue recognition, allowances for credit losses, warranty reserves, inventory valuation reserves, stock-based compensation, purchased intangible asset valuations and useful lives, asset retirement obligations, and deferred income tax asset valuation allowances. These estimates and assumptions are based on current facts, historical experience and various other factors that we believe to be reasonable under the circumstances, the results of which form the basis for making judgments about carrying values of assets and liabilities that are not readily apparent from other sources. The actual results we experience may differ materially and adversely from our original estimates. To the extent there are material differences between the estimates and the actual results, our future results of operations will be affected.
Revenue Recognition
We recognize revenue in accordance with Accounting Standards Codification Topic 606, Revenue from Contracts with Customers (“ASC 606”), when our customer obtains control of promised goods or services, in an amount that reflects the consideration which we expect to receive in exchange for those goods or services. To determine revenue recognition for arrangements that are within the scope of ASC 606, we perform the following five steps; (i) identify the contract(s) with a customer; (ii) identify the performance obligations in the contract; (iii) determine the transaction price; (iv) allocate the transaction price to the performance obligations; and (v) recognize revenue when (or as) we satisfy a performance obligation. The five-step model is applied to contracts when it is probable that we will collect the consideration we are entitled to in exchange for the goods or services transferred to the customer. At contract inception, once the contract is determined to be within the scope of ASC 606, we assess the goods or services promised within each contract and determine those that are performance obligations and assess whether each promised good or service is distinct. We then recognize revenue in the amount of the transaction price that is allocated to the respective performance obligation when (or as) the performance obligation is satisfied. Delivery occurs when goods are shipped and title and risk of loss transfer to the customer, in accordance with the terms specified in the arrangement with the customer. Revenue recognition is deferred until the earnings process is complete.
We (i) input orders based upon receipt of a customer purchase order, (ii) confirm pricing through the customer purchase order record, (iii) validate creditworthiness through past payment history, credit agency reports and other financial data, and (iv) recognize revenue when goods are shipped and title and risk of loss transfer to the customer. All customers have warranty rights, and some customers also have explicit or implicit rights of return. We establish reserves for potential customer returns or warranty repairs based on historical experience and other factors that enable us to reasonably estimate the obligation.
A portion of our product sales is made through distributors under agreements allowing for right of return. Our past history with these sell-through right of return provisions allows us to reasonably estimate the amount of inventory that could be returned pursuant to these agreements, and revenue is recognized accordingly.
Revenue for engineering services contracts and grants is recognized ratably over the contract term as the related performance obligations are satisfied. Progress toward completion is measured based on the ratio of costs incurred to total estimated costs at completion. This method reflects the pattern of transfer of control, as it aligns revenue recognition with the extent of work performed.
Revenue recognized at a point in time primarily relates to product sales. Revenue recognized over time primarily relates to engineering service contracts and other services agreements. The following table presents revenue recognized at a point in time and revenue recognized over time:
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| 2026 | | 2025 | | 2026 | | 2025 | |||||
(in thousands) | ||||||||||||
Revenue recognized at a point in time | $ | | $ | | $ | | $ | | ||||
Revenue recognized over time |
| |
| |
| |
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Total revenue | $ | | $ | | $ | | $ | | ||||
9
Shipping and Handling Fees and Costs
Amounts billed to customers for shipping and handling fees are included in revenues. Costs incurred for shipping and handling are included in cost of revenues.
Engineering, Research and Development Costs
Engineering, research and development (“R&D”) costs are expensed when incurred. R&D expenses consist primarily of compensation expenses for employees engaged in research, design and development activities. R&D expenses also include depreciation and amortization, and overhead, including facilities expenses.
Advertising and Marketing Costs
All of the costs related to advertising and marketing our products are expensed as incurred or at the time the marketing takes place. Advertising and marketing costs incurred in the three months ended June 30, 2026 and 2025 were $
Stock-Based Compensation
All stock-based payments to employees, including grants of employee stock options and employee stock purchase rights, are recognized in the financial statements based on their respective grant date (measurement date) fair values. We calculate the compensation cost of full-value awards, such as restricted stock units, based on the market value of the underlying stock at the date of the grant. We estimate the expected life of a stock award as the period of time that the award is expected to be outstanding. We are required to estimate the fair value of stock-based payment awards on the date of grant using an option-pricing model. The value of the portion of the award that is ultimately expected to vest is recognized as expense ratably over the requisite service periods. We estimate the fair value of each option award as of the date of grant using the Black-Scholes option pricing model, which was developed for use in estimating the value of traded options that have no vesting restrictions and that are freely transferable. The Black-Scholes option pricing model considers, among other factors, the expected life of the award and the expected volatility of our stock price. Although the Black-Scholes option pricing model meets the accounting guidance requirements, the fair values generated by the Black-Scholes option pricing model may not be indicative of the actual fair values of our awards, as it does not consider other factors important to those stock-based payment awards, such as continued employment, periodic vesting requirements, and limited transferability.
We have elected to recognize compensation expense for all stock-based awards on a straight-line basis over the requisite service period for the entire award. The amount of compensation expense recognized through the end of each reporting period is equal to the portion of the grant-date value of the awards that have vested, or for partially vested awards, the value of the portion of the award that is ultimately expected to vest for which the requisite services have been provided. The benefits of tax deductions in excess of recognized compensation cost are reported as a financing cash flow.
Other Income (Expense)
Other income (expense) consists of interest income, foreign currency transaction gains and losses, gains and losses on marketable securities, and other non-operating gains and losses.
Income Taxes
We account for income taxes under the asset and liability method, whereby deferred tax assets and liabilities are recognized for the future tax consequences attributable to differences between the financial statement carrying amounts of existing assets and liabilities and their respective tax basis and operating loss and tax credit carryforwards. We assess the likelihood that our deferred tax assets will be recovered from future taxable income and to the extent we believe that recovery is not determinable beyond a “more likely than not” standard, we establish a valuation allowance. To the extent we establish a valuation allowance or increase or decrease this allowance in a period, we include an expense or benefit within the tax provision in the statement of operations. We also utilize a “more likely than not” recognition threshold and measurement analysis for the financial statement recognition and measurement of a tax position taken or expected to be taken in a tax return. We recognize potential accrued interest and penalties related to unrecognized tax benefits within the consolidated statements of operations as income tax expense.
10
We operate within multiple tax jurisdictions and are subject to audit in these jurisdictions. Our foreign subsidiaries are subject to foreign income taxes on earnings in their respective jurisdictions. Earnings of our foreign subsidiaries are included in our U.S. federal income tax return in the periods they are earned.
Foreign Currency Translation
The functional currency of our Chinese subsidiary is the Chinese Yuan Renminbi; the functional currency of our United Kingdom subsidiaries is the British pound sterling; and the functional currency of our Hong Kong subsidiary is the United States dollar. Assets and liabilities are translated into United States dollars at the exchange rate in effect on the balance sheet date. Revenues and expenses are translated at the average exchange rate prevailing during the respective periods.
Comprehensive Income/Loss
Comprehensive income/loss includes all components of comprehensive income/loss, including net income/loss and any changes in equity during the period from transactions and other events and circumstances generated by non-owner sources.
Segment Reporting
We operate as a operating and reportable segment: the design, development, and manufacture of sensor technologies. Our chief operating decision maker is the Company’s Chief Executive Officer, who reviews its performance as a whole and allocates resources based on overall performance.
Earnings Per Share
Basic earnings per share is computed by dividing net income (loss) applicable to common stockholders (i.e., net income (loss) adjusted for preferred stock dividends declared or accumulated) by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income (loss) applicable to common stockholders by the weighted average number of diluted common shares, which includes common stock equivalents from, if applicable, and if dilutive, unexercised stock options, unvested restricted stock units, and shares issuable upon conversion of convertible preferred stock. Unexercised stock options and unvested restricted stock units are considered to be common stock equivalents if, using the treasury stock method, they are determined to be dilutive. Convertible preferred stock is considered to be common stock equivalents if, using the if-converted method, they are determined to be dilutive.
Under the two-class method of determining earnings for each class of stock, we consider the dividend rights and participating rights in undistributed earnings for each class of stock.
For all years presented, all share and per share data have been retroactively adjusted for the effect of the
Leases
We account for our leases under ASC 842. Under this guidance, arrangements meeting the definition of a lease are classified as operating or financing leases and are recorded on the consolidated balance sheet as both a right of use asset and lease liability, calculated by discounting fixed lease payments over the lease term at the rate implicit in the lease or our incremental borrowing rate. Lease liabilities are increased by interest and reduced by payments each period, and the right of use asset is amortized over the lease term. For finance leases, interest on the lease liability and the amortization of the right of use asset results in front-loaded expense over the lease term. Variable lease expenses are recorded when incurred.
In calculating the right of use and lease liability, we have elected to combine lease and non-lease components. We exclude short-term leases having an initial term of 12 months or less from the new guidance as an accounting policy election and recognize rent expense on a straight-line basis over the lease term.
11
Risk and Uncertainties
Our future results of operations involve a number of risks and uncertainties. Factors that could affect our business or future results and cause actual results to vary materially from historical results include, but are not limited to, the rapid change in our industry; problems with the performance, reliability or quality of our products; loss of customers; impacts of doing business internationally, including foreign currency fluctuations, changes in the trade policies of countries in which we or our customers do business (including fluctuating tariff rates), and political instability; potential shortages of the supplies we use to manufacture our products; disruptions in our manufacturing facilities; changes in environmental directives impacting our manufacturing process or product lines; the development of new proprietary technology and the enforcement of intellectual property rights by or against us; our ability to attract and retain qualified employees; and our ability to raise additional capital.
Our operations and financial results may be adversely affected by outbreaks of viruses, widespread illness, infectious diseases, contagions and unforeseen epidemics (such as the COVID-19 coronavirus) in countries in which our products are manufactured and sold. We experienced delays in the receipt of certain goods and the supply of our products from international and domestic shipping origins as a result of the COVID-19 pandemic and more general global supply chain constraints in 2021, and to a lesser extent in the years following. Depending on the continued extent and duration of these and similar constraints and disruptions, our supply chain, results of operations (including sales) or future business may be materially and adversely impacted. These and other issues affecting our international suppliers or internationally manufactured merchandise could have a material adverse effect on our business, results of operations and financial condition.
Fair Value Measurements
We determine fair value measurements based on the assumptions that market participants would use in pricing the asset or liability. As a basis for considering market participant assumptions in fair value measurements, we follow the following fair value hierarchy that distinguishes between (1) market participant assumptions developed based on market data obtained from independent sources (observable inputs) and (2) our own assumptions about market participant assumptions developed based on the best information available in the circumstances (unobservable inputs):
Level 1: Observable inputs such as quoted prices for identical assets or liabilities in active markets;
Level 2: Other inputs observable directly or indirectly, such as quoted prices for similar assets or liabilities or market-corroborate inputs; and
Level 3: Unobservable inputs for which there is little or no market data and which requires the owner of the assets or liabilities to develop its own assumptions about how market participants would price these assets or liabilities.
Our assessment of the significance of a particular input to the fair value measurement requires judgment and may affect the valuation of assets and liabilities and their placement within the fair value hierarchy.
Recently Issued Accounting Pronouncements
We reviewed all recently issued accounting pronouncements and, other than as described below, concluded they are not applicable or not expected to be material to our financial statements.
In November 2024, the FASB issued ASU No. 2024-03, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses (“ASU 2024-03”) and in January 2025, the FASB issued ASU No. 2025-01, Income Statement—Reporting Comprehensive Income—Expense Disaggregation Disclosures (Subtopic 220-40): Clarifying the Effective Date, which clarified the effective date of ASU 2024-03. ASU 2024-03 will require the Company to disclose the amounts of purchases of inventory, employee compensation, depreciation and intangible asset amortization, as applicable, included in certain expense captions in the Consolidated Statements of Operations, as well as qualitatively describe remaining amounts included in those captions. ASU 2024-03 will also require the Company to disclose both the amount and the Company’s definition of selling expenses. The Company will adopt ASU 2024-03 in its fourth quarter of 2027 using a prospective transition method.
12
Subsequent Events
We have evaluated subsequent events through August 13, 2026, being the date these condensed consolidated financial statements were issued.
Note 2 – Details of Certain Financial Statement Components
The following tables provide details of selected balance sheet items:
| June 30, | | December 31, | |||
2026 | 2025 | |||||
Accounts receivable, net | (in thousands) | |||||
Accounts receivable, gross | $ | | $ | | ||
Allowance for expected credit losses |
| ( |
| ( | ||
Accounts receivable, net | $ | | $ | | ||
| Six Months | | Six Months | |||
Ended | Ended | |||||
June 30, | June 30, | |||||
2026 | 2025 | |||||
Allowance for expected credit losses | (in thousands) | |||||
Balance, beginning of period | $ | | $ | | ||
Provisions for expected credit losses, net of recoveries |
| |
| | ||
Foreign currency exchange rate changes |
| ( |
| | ||
Balance, end of period | $ | | $ | | ||
June 30, | December 31, | |||||
| 2026 | | 2025 | |||
Inventories |
| (in thousands) | ||||
Raw materials |
| $ | |
| $ | |
Work-in-process | | | ||||
Finished goods | | | ||||
Total inventories |
| $ | |
| $ | |
June 30, | December 31, | |||||
| 2026 | | 2025 | |||
Property, plant and equipment, net | (in thousands) | |||||
Furniture, machinery and equipment | $ | | $ | | ||
Leasehold improvements |
| |
| | ||
| |
| | |||
Less: accumulated depreciation |
| ( |
| ( | ||
Total property, plant and equipment, net | $ | | $ | | ||
Depreciation expense totaled $
Weighted | June 30, 2026 | December 31, 2025 | ||||||||||||||||||
Average | Gross | Net | Gross | Net | ||||||||||||||||
Amortization | Carrying | Accumulated | Carrying | Carrying | Accumulated | Carrying | ||||||||||||||
| Period | Amount | Amortization | | Amount | Amount | Amortization | | Amount | |||||||||||
Intangible assets, net | (in thousands) | |||||||||||||||||||
Patents, tradenames, and trademarks | $ | | $ | ( | $ | | $ | | $ | ( | $ | | ||||||||
Developed technology | | ( | | | ( | | ||||||||||||||
Customer relationships | | ( | | | ( | | ||||||||||||||
Non-compete agreements | | ( | | | ( | | ||||||||||||||
Total intangible assets, net | $ | | $ | ( | $ | | $ | | $ | ( | $ | | ||||||||
13
Amortization expense totaled $
Years ending December 31, | | (in thousands) | |
2026 (remainder of year) | $ | | |
2027 |
| | |
2028 |
| | |
2029 |
| | |
$ | | ||
The changes in the carrying amount of goodwill for the periods ended June 30, 2026 and 2025 are as follows:
| (in thousands) | ||
Balance as of January 1, 2026 | $ | | |
Adjustment to goodwill, foreign currency exchange rate changes |
| ( | |
Balance as of June 30, 2026 | $ | | |
| (in thousands) | ||
Balance as of January 1, 2025 |
| $ | |
Adjustment to goodwill, acquisition price allocation of Conductive Transfers | ( | ||
Adjustment to goodwill, foreign currency exchange rate changes | | ||
Balance as of June 30, 2025 |
| $ | |
Accrued liabilities consisted of the following:
June 30, | December 31, | |||||
| 2026 | | 2025 | |||
Accrued liabilities | (in thousands) | |||||
Accrued wages and benefits | $ | | $ | | ||
Accrued vacation |
| |
| | ||
Other accrued liabilities |
| |
| | ||
Total accrued liabilities | $ | | $ | | ||
Note 3 – Series A Convertible Preferred Stock
In October and November 2021, the Company sold to investors in a private placement exempt from registration under the Securities Act of 1933, as amended, an aggregate of
On October 15, 2025, with the closing price of the Company’s Common Stock having equaled or exceeded $
Note 4 – Earnings Per Share
Basic earnings per share is computed by dividing net income/loss applicable to common stockholders by the weighted average number of common shares outstanding during the period. Diluted earnings per share is computed by dividing net income/loss by the weighted average number of common shares outstanding during the period, plus the dilutive effect of any dilutive securities.
For all periods presented, all share and per share data have been retroactively adjusted for the effect of the
14
The following table sets forth the computation of basic and diluted earnings per share:
Three Months Ended | Six Months Ended | |||||||||||
June 30, | June 30, | |||||||||||
| 2026 | | 2025 | | 2026 | | 2025 | |||||
(in thousands, except per share data) | ||||||||||||
Net income (loss) |
| $ | |
| $ | |
| $ | ( |
| $ | ( |
Less: Preferred stock dividends | — | ( | — | ( | ||||||||
Net income (loss) applicable to common stockholders | $ | | $ | — | $ | ( | $ | ( | ||||
Weighted average common shares outstanding – basic | | | | | ||||||||
Dilutive potential common shares from convertible preferred stock and restricted stock units | | — | — | — | ||||||||
Weighted average common shares outstanding – diluted | | | | | ||||||||
Earnings (loss) per common share, basic |
| $ | |
| $ | — |
| $ | ( |
| $ | ( |
Earnings (loss) per common share, diluted | $ | | $ | — | $ | ( | $ | ( | ||||
| ||||||||||||
Shares issuable upon conversion of Series A Convertible Preferred Stock excluded from calculation because their conversion would be anti-dilutive | — | | — | | ||||||||
Shares subject to restricted stock units excluded from calculation because their effect would be anti-dilutive | — | | | | ||||||||
For the three and six months ended June 30, 2025,
Note 5 – Stock-Based Compensation and Restricted Stock Units
In May 2024, the Compensation Committee of the Company’s Board of Directors approved the Company’s grant of
| | Weighted- | |||
Average | |||||
Grant-Date | |||||
Fair Value | |||||
Nonvested Restricted Stock Units | Shares | (per share) | |||
Nonvested at January 1, 2026 |
| | $ | | |
Granted |
| — |
| — | |
Vested |
| — |
| — | |
Forfeited |
| — |
| — | |
Nonvested at June 30, 2026 |
| | $ | | |
As of June 30, 2026, there was approximately $
15
Note 6 – Significant Customers, Concentrations of Credit Risk, and Geographic Information
We manage and operate our business through
Revenues from customers equal to or greater than 10% of total revenues are as follows:
Three Months Ended June 30, | Six Months Ended June 30, |
| |||||||
| 2026 | | 2025 | 2026 | | 2025 |
| ||
Customer A |
| | % | | % | | % | | % |
Customer B |
| | % | | % | | % | | % |
Revenues by geographic area are as follows:
Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| 2026 | | 2025 | | 2026 | | 2025 | |||||
| (in thousands) | |||||||||||
United States | $ | | $ | | $ | | $ | | ||||
Asia and Middle East |
| |
| |
| |
| | ||||
Europe and other |
| |
| |
| |
| | ||||
Revenue | $ | | $ | | $ | | $ | | ||||
Revenues by geographic area are based on the country of shipment destination. The geographic location of distributors and third-party manufacturing service providers may be different from the geographic location of the purchasers and/or ultimate end users.
We provide credit only to creditworthy third parties who are subject to our credit verification procedures. Accounts receivable balances are monitored on an ongoing basis, and accounts deemed to have credit risk are fully reserved. At June 30, 2026,
Our long-lived assets were geographically located as follows:
| June 30, | | December 31, | |||
| 2026 |
| 2025 | |||
| (in thousands) | |||||
United States | $ | | $ | | ||
Europe | | | ||||
Asia |
| |
| | ||
Total long-lived assets | $ | | $ | | ||
16
Note 7 – Related Party Transactions
Qualstar Corporation (OTCMKTS:QBAK)
Qualstar Corporation (OTCMKTS:QBAK) (“Qualstar”) is a related party. Steven N. Bronson, our Chairman of the Board, President and CEO, is also the President, CEO and a director of Qualstar. Ryan J. Hoffman, our CFO, is also the CFO of Qualstar. Mr. Bronson, together with BKF Capital Group, Inc. which he controls, has a controlling interest in both Interlink and Qualstar. We have a mutual facilities sharing agreement with Qualstar under which Qualstar allows us to use of a portion of its Camarillo, California office and warehouse facility, and we previously allowed Qualstar to use (while we occupied such facilities) a portion of our former office facilities in Irvine, California and Bellevue, Washington, in each case splitting substantially all rent and lease-related costs on an apportioned basis according to the approximate relative usage levels by each entity. In addition, we have a mutual consulting agreement with Qualstar under which certain of our respective employees and/or independent contractors provide certain operational, sales, marketing, general and administrative services to the other entity. Interlink and Qualstar also agree to reimburse, or be reimbursed by, one another for expenses paid by one company on behalf of the other. Transactions with Qualstar and its subsidiaries are as follows:
Three Months Ended June 30, | ||||||||||||
| 2026 | 2025 | ||||||||||
| Due from | | Due to | | Due from | | Due to | |||||
Qualstar | Qualstar | Qualstar | Qualstar | |||||||||
| (in thousands) | |||||||||||
Balance at April 1 | $ | | $ | | $ | | $ | | ||||
Billed (or accrued) to Qualstar by Interlink |
| |
| — |
| |
| — | ||||
Paid by Qualstar to Interlink |
| ( |
| — |
| ( |
| — | ||||
Billed (or accrued) to Interlink by Qualstar |
| — |
| |
| — |
| | ||||
Paid by Interlink to Qualstar |
| — |
| ( |
| — |
| ( | ||||
Balance at June 30 | $ | | $ | | $ | | $ | | ||||
Six Months Ended June 30, | ||||||||||||
| 2026 | 2025 | ||||||||||
| Due from | | Due to | | Due from | | Due to | |||||
Qualstar | Qualstar | Qualstar | Qualstar | |||||||||
| (in thousands) | |||||||||||
Balance at January 1 | $ | | $ | | $ | | $ | | ||||
Billed (or accrued) to Qualstar by Interlink |
| |
| — |
| |
| — | ||||
Paid by Qualstar to Interlink |
| ( |
| — |
| ( |
| — | ||||
Billed (or accrued) to Interlink by Qualstar |
| — |
| |
| — |
| | ||||
Paid by Interlink to Qualstar |
| — |
| ( |
| — |
| ( | ||||
Balance at June 30 | $ | | $ | | $ | | $ | | ||||
17
BKF Capital Group, Inc. (OTCMKTS:BKFG)
BKF Capital Group, Inc. (OTCMKTS:BKFG) (“BKF Capital”) is a related party. Steven N. Bronson, our Chairman of the Board, President and CEO, is also the CEO and Chairman of the Board of BKF Capital. Ryan J. Hoffman, our CFO, is also the CFO of BKF Capital. Mr. Bronson, together with BKF Capital, has a controlling interest in Interlink. We previously had a facilities agreement with BKF Capital to allow BKF Capital to use a portion of our office facility in Irvine, California, for which we had agreed to split substantially all rent and lease-related costs on an apportioned basis according to the approximate relative usage levels by each entity. Interlink and BKF Capital also agree to reimburse, or be reimbursed by, one another for expenses paid by one company on behalf of the other. Transactions with BKF Capital and its subsidiaries were not material during the periods ended June 30, 2026 and 2025.
Ridgefield Acquisition Corp (OTCMKTS:RDGA)
Ridgefield Acquisition Corp (OTCMKTS:RDGA) (“Ridgefield”) is a related party. Steven N. Bronson, our Chairman of the Board, President and CEO, is also the CEO and Chairman of the Board of Ridgefield as well as Ridgefield’s largest shareholder. Ryan J. Hoffman, our CFO, is also the CFO of Ridgefield. Interlink and Ridgefield agree to reimburse, or be reimbursed by, one another for expenses paid by one company on behalf of the other. Transactions with Ridgefield were not material during the periods ended June 30, 2026 and 2025.
Note 8 – Income Taxes
Income taxes represented
Management assesses the available positive and negative evidence to estimate if sufficient future taxable income will be generated to utilize the existing deferred tax assets. We analyzed our need to record a valuation allowance against our otherwise recognizable net deferred tax assets in the federal, state and foreign jurisdictions, and we determined that a valuation allowance on federal, state, and certain foreign deferred tax assets was necessary at both June 30, 2026 and December 31, 2025. The amount of deferred tax assets considered realizable could be adjusted in future periods if estimates of future taxable income during the carryforward period are reduced or increased, or if objective negative evidence in the form of cumulative losses is no longer present and additional weight is given to subjective evidence such as our projections for future profitability.
The Internal Revenue Code includes a provision, referred to as Global Intangible Low-Taxed Income (“GILTI”), which provides for a
Of our $
Note 9 – Commitments and Contingencies
Lease Agreements
We lease facilities under non-cancellable operating leases. Our current leases expire at various dates through 2031 and frequently include renewal provisions for varying periods of time, provisions for taxes, insurance and maintenance costs, and provisions for minimum rent increases. Minimum leases payments, including scheduled rent increases are recognized as rent expenses on a straight-line basis over the term of the lease.
18
The rate implicit in each lease is not readily determinable, and we therefore use our incremental borrowing rate to determine the present value of the lease payments. The weighted average incremental borrowing rate used to determine the initial value of right-of-use (“ROU”) assets and lease liabilities capitalized during the each of the six months ended June 30, 2026 and 2025 was
ROU assets for operating leases are periodically assessed for impairment. We have not recognized any impairment losses for our ROU assets.
We monitor for events or changes in circumstances that require a reassessment of our leases. When a reassessment results in the remeasurement of a lease liability, a corresponding adjustment is made to the carrying amount of the corresponding ROU asset unless doing so would reduce the carrying amount of the ROU asset to an amount less than zero. In that case, the amount of the adjustment that would result in a negative ROU asset balance is recorded in profit or loss.
In May 2024, we entered into a lease agreement for a
In June 2023, we entered into a lease agreement for a
In April 2024, we entered into a lease agreement for a
We lease a
We lease a
In June 2026, we entered into a lease agreement for a production facility in Sheffield, England for approximately $
We lease a
We lease a
We previously leased a
As of June 30, 2026, we had ROU assets of $
19
Future minimum lease payments under non-cancellable operating leases that have remaining non-cancellable lease terms in excess of one year are as follows:
Years ending December 31, | | (in thousands) | |
2026 (remainder of year) | $ | | |
2027 |
| | |
2028 | | ||
2029 | | ||
2030 | | ||
Thereafter | | ||
Total undiscounted future non-cancelable minimum lease payments |
| | |
Less: imputed interest | ( | ||
Present value of lease liabilities | $ | | |
During the three months ended June 30, 2026, we incurred approximately $
During the six months ended June 30, 2026, we incurred approximately $
Litigation
We are not currently party to any legal proceedings. We are occasionally involved in legal proceedings in the ordinary course of business, including actions against us which assert or may assert claims or seek to impose fines and penalties in substantial amounts. Related legal defense costs are expensed as incurred.
Warranties
We establish reserves for future product warranty costs that are expected to be incurred pursuant to specific warranty provisions with our customers. We generally warrant our products against defects for
Intellectual Property Indemnities
We indemnify certain customers and our contract manufacturers against liability arising from third-party claims of intellectual property rights infringement related to our products. These indemnities appear in development and supply agreements with our customers as well as manufacturing service agreements with our contract manufacturers, are not limited in amount or duration and generally survive the expiration of the contract. Given that the amount of any potential liabilities related to such indemnities cannot be determined until an infringement claim has been made, we are unable to determine the maximum amount of losses that we could incur related to such indemnifications.
Director and Officer Indemnities and Contractual Guarantees
Pursuant to our bylaws, we will indemnify our directors and executive officers to the fullest extent permitted by Nevada law, without limitation as to amount or duration, in the event of any actual or threatened lawsuit or proceeding. Certain costs incurred in connection with such indemnifications may be recovered under certain circumstances under various insurance policies. Given that the amount of any potential liabilities related to such indemnities cannot be determined until a lawsuit or proceeding has been threatened or filed, we are unable to determine the maximum amount of losses that we could incur relating to such indemnities.
20
We have entered into an employment agreement with Steven N. Bronson, our Chairman of the Board, President and Chief Executive Officer. This agreement contains certain severance and change in control obligations. Under the agreement, if Mr. Bronson’s employment is terminated due to his death or disability (as such terms are defined in the agreement), Mr. Bronson or his beneficiaries will be entitled to receive: (i) his base compensation to the end of the monthly pay period immediately following the date of termination; (ii) accrued bonus payments; and (iii) immediate and full vesting of all unvested equity and/or options issued by the Company. If Mr. Bronson’s employment is terminated by him for good reason (as such term is defined in the agreement), or by us without cause, then Mr. Bronson will be entitled to receive: (i) his base compensation to the date of termination; (ii) a severance payment equal to
In the event of a change in control of the Company (as such term is defined in the agreement), Mr. Bronson is entitled to receive: (i) a change in control payment in an amount equal to twelve months of his base compensation, payable as of the date the change in control occurs; and (ii) immediate and full vesting of all unvested equity and/or options issued by the Company.
Guarantees and Indemnities
In the normal course of business, we are occasionally required to undertake indemnification for which we may be required to make future payments under specific circumstances. We review our exposure under such obligations no less than annually, or more frequently as required. The amount of any potential liabilities related to such obligations cannot be accurately determined until a formal claim is filed. Historically, any such amounts that become payable have not had a material negative effect on our business, financial condition or results of operations. We maintain general and product liability insurance which may provide a source of recovery to us in the event of an indemnification claim.
21
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations
This Quarterly Report on Form 10-Q contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The words “believe,” “may,” “will,” “potentially,” “estimate,” “continue,” “anticipate,” “intend,” “could,” “would,” “project,” “plan,” “expect” and similar expressions that convey uncertainty of future events or outcomes are intended to identify forward-looking statements. These forward-looking statements speak only as of the date of this Form 10-Q and are subject to uncertainties, assumptions and business and economic risks. As such, our actual results could differ materially from those set forth in the forward-looking statements as a result of the factors set forth below in Part II, Item 1A, “Risk Factors,” and in our other reports filed with the Securities and Exchange Commission. You should not rely upon forward-looking statements as predictions of future events. Although we believe that the expectations reflected in our forward-looking statements are reasonable, we cannot guarantee that the future results, levels of activity, performance or events and circumstances described in the forward-looking statements will be achieved or occur. We undertake no obligation to update publicly any forward-looking statements for any reason after the date of this Form 10-Q to conform these statements to actual results or to changes in our expectations, except as required by law.
The following discussion should be read in conjunction with our unaudited condensed consolidated financial statements and notes thereto appearing elsewhere in this Quarterly Report on Form 10-Q with the understanding that our actual future results, levels of activity, performance and events and circumstances may be materially different from what we expect.
Executive Overview
Interlink Electronics, Inc. is a leading global provider of advanced sensing technologies and printed electronics solutions that enable Human-Machine Interface (“HMI”) devices and Internet-of-Things (“IoT”) applications. Our broad product and technology portfolio spans force and touch sensors, piezoelectric sensors, rugged HMI devices, wearable and textile-based sensors, electrochemical gas and environmental sensors, instruments, and fully integrated systems.
Our business is organized around two technology platforms:
Force/Touch Sensing and HMI Solutions. Our force-sensing resistor (“FSR®”) technology, together with piezoelectric sensing, printed electronics, rugged interface devices, and emerging smart textile platforms, enables intuitive, durable, and low-power user input solutions. These technologies are deployed in applications such as vehicle entry and control systems, industrial and medical interfaces, presence and pressure detection, wearable monitoring, and other three-dimensional input environments.
Through our acquisitions of Calman in 2023 and Conductive Transfers Limited in 2024, we expanded our capabilities in customized membrane keypads, graphic overlays, industrial labeling, conductive textiles, and integrated printed electronic systems. These additions enhance our vertical integration, broaden our intellectual property portfolio, and strengthen our presence in European markets. We are increasingly positioning our HMI offerings as integrated subsystems that combine sensing hardware with proprietary firmware, signal processing, and system-level design.
Gas and Environmental Sensing Solutions. We entered the gas and environmental sensing market in 2022 through the acquisition of the assets of SPEC Sensors and KWJ Engineering. We now design and manufacture miniaturized electrochemical gas sensors, instruments, and monitoring systems for safety, health, air quality, and industrial applications. Our products are designed to address growing demand for compact, low-power, and cost-effective sensing solutions suitable for wireless, wearable, and IoT deployments.
We prioritize revenue growth in targeted strategic markets, gross margin expansion driven by favorable product mix and operational efficiencies, disciplined capital allocation, and the ongoing advancement of differentiated sensing platforms. Our strategy emphasizes higher-margin, application-specific solutions built on scalable technology foundations. A substantial portion of our revenue is generated from custom solutions developed in close collaboration with OEM customers. Although these engineering and product development engagements often involve extended design cycles, they frequently lead to multi-year production programs that provide long-term revenue visibility and strengthen customer relationships.
We maintain a global operational footprint to support our customers and manufacturing strategy. We manufacture our force-sensing and printed electronic products at our facilities in Shenzhen, China, and Irvine, Scotland, and our gas and environmental sensors and instruments at the facility in Fremont, California. Our vertically integrated manufacturing approach allows us to maintain control over proprietary processes, quality standards, and supply chain responsiveness.
22
Critical Accounting Policies and Estimates
We prepare our consolidated financial statements in accordance with generally accepted accounting principles in the United States (“GAAP”). The preparation of consolidated financial statements requires us to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenue, costs and expenses, and related disclosures. We evaluate our estimates and assumptions on an ongoing basis. We base our estimates on historical experience and on various other assumptions that we believe to be reasonable under the circumstances. Actual results could differ significantly from the estimates made by our management. To the extent that there are differences between our estimates and actual results, our future financial statements presentation, financial condition, results of operations, and cash flows will be affected.
A description of our critical accounting policies that represent the more significant judgments and estimates used in the preparation of our financial statements was provided in the Management’s Discussion and Analysis of Financial Condition and Results of Operations section in our Annual Report on Form 10-K filed with the Securities and Exchange Commission on March 26, 2026. There have been no changes to our critical accounting policies and estimates described in the Form 10-K that have had a material impact on our condensed consolidated financial statements and related notes.
Results of Operations
The following table sets forth certain unaudited condensed consolidated statements of operations data for the periods indicated. The percentages in the table are based on revenues.
| Three Months Ended June 30, | Six Months Ended June 30, |
| ||||||||||||||||||
2026 | 2025 | 2026 | 2025 |
| |||||||||||||||||
$ | | % | | $ | | % | | $ | | % | | $ | | % |
| ||||||
(in thousands, except percentages) |
| ||||||||||||||||||||
Revenue | $ | 3,770 | 100.0 | % | $ | 3,414 | 100.0 | % | $ | 6,844 | 100.0 | % | $ | 6,078 | 100.0 | % | |||||
Cost of revenue | 2,098 | 55.6 | % | 1,876 | 55.0 | % |
| 3,836 | 56.0 | % |
| 3,591 | 59.1 | % | |||||||
Gross profit | 1,672 | 44.4 | % | 1,538 | 45.0 | % |
| 3,008 | 44.0 | % |
| 2,487 | 40.9 | % | |||||||
Operating expenses: |
| ||||||||||||||||||||
Engineering, research and development | 262 | 6.9 | % | 363 | 10.6 | % |
| 565 | 8.3 | % |
| 797 | 13.1 | % | |||||||
Selling, general and administrative | 1,164 | 30.9 | % | 1,109 | 32.5 | % |
| 2,647 | 38.7 | % |
| 2,473 | 40.7 | % | |||||||
Total operating expenses | 1,426 | 37.8 | % | 1,472 | 43.1 | % |
| 3,212 | 46.9 | % |
| 3,270 | 53.8 | % | |||||||
Income (loss) from operations | 246 | 6.5 | % | 66 | 1.9 | % |
| (204) | (3.0) | % |
| (783) | (12.9) | % | |||||||
Other income (expense), net | (15) | (0.4) | % | 25 | 0.7 | % |
| 45 | 0.7 | % |
| 30 | 0.5 | % | |||||||
Income (loss) before income taxes | 231 | 6.1 | % | 91 | 2.7 | % |
| (159) | (2.3) | % |
| (753) | (12.4) | % | |||||||
Income tax expense (benefit) | (17) | (0.5) | % | (9) | (0.3) | % |
| (69) | (1.0) | % |
| (48) | (0.8) | % | |||||||
Net income (loss) | $ | 248 | 6.6 | % | $ | 100 | 2.9 | % | $ | (90) | (1.3) | % | $ | (705) | (11.6) | % | |||||
Comparison of Three Months Ended June 30, 2026 and 2025
Revenue by the markets we serve is as follows:
| Three Months Ended June 30, | |||||||||||||||
2026 | 2025 | |||||||||||||||
| % of | | | % of | | | ||||||||||
Amount | Revenue | Amount | Revenue | $ Change | % Change | |||||||||||
(in thousands, except percentages) | ||||||||||||||||
Medical | $ | 1,274 |
| 33.8 | % | $ | 1,018 |
| 29.8 | % | $ | 256 | 25.1 | % | ||
Industrial |
| 959 |
| 25.4 | % |
| 1,292 |
| 37.8 | % |
| (333) | (25.8) | % | ||
Automotive |
| 177 |
| 4.7 | % |
| 210 |
| 6.2 | % |
| (33) | (15.7) | % | ||
Standard |
| 1,360 |
| 36.1 | % |
| 894 |
| 26.2 | % |
| 466 | 52.1 | % | ||
Revenue | $ | 3,770 |
| 100.0 | % | $ | 3,414 |
| 100.0 | % | $ | 356 | 10.4 | % | ||
23
We sell our custom products into the medical, industrial, automotive and other specialty markets. We sell our standard products to customers in many markets through various distribution networks. The ultimate customer for our products may come from different markets that are often unknown to us at the time of sale. Each market has different product design cycles. Products with longer design cycles often have much longer product life cycles. Medical, industrial, and other specialty markets such as environmental monitoring products generally have long design and life cycles. We currently have products with life cycles that have exceeded 20 years and are ongoing.
Revenues were up in the three months ended June 30, 2026 compared to the three months ended June 30, 2025 for customers in the medical market and for customers of our standard products and were down for customers in the industrial and automotive markets. The increase in revenue from customers in the medical market was due to increased shipments of our force-sensing products and of our Calman subsidiary’s printed electronics due to higher customer demand. The decrease in revenue from customers in the industrial market was due to reduced shipments and lower demand for our gas-sensing products. In all markets, the timing of orders from our customers is not always predictable and can be less in some periods and higher in others depending on the level of their demand which is driven by their projects and operating plans.
| Three Months Ended June 30, | |||||||||||||||
2026 | 2025 | |||||||||||||||
| % of | | | % of | | | ||||||||||
Amount | Revenue | Amount | Revenue | $ Change | % Change | |||||||||||
(in thousands, except percentages) | ||||||||||||||||
Gross profit | $ | 1,672 | 44.4 | % | $ | 1,538 | 45.0 | % | $ | 134 | 8.7 | % | ||||
Our gross profit and gross margin percentage are impacted by various factors including product mix, customer mix, sales volume, and fluctuations in our cost of revenues, which are comprised of material costs, direct and indirect production labor costs, warehousing and logistics costs, facilities costs, and other costs related to production activities. Gross profit was up during the three months ended June 30, 2026 compared to the three months ended June 30, 2025 due primarily to higher revenues, while gross margin percentage was down slightly due to changes in our product and customer mix.
| Three Months Ended June 30, | |||||||||||||||
2026 | 2025 | |||||||||||||||
| % of | | | % of | | | ||||||||||
Amount | Revenue | Amount | Revenue | $ Change | % Change | |||||||||||
(in thousands, except percentages) | ||||||||||||||||
Engineering, research and development | $ | 262 | 6.9 | % | $ | 363 | 10.6 | % | $ | (101) | (27.8) | % | ||||
Engineering and R&D expenses consist primarily of compensation expenses for employees engaged in research, design and development activities, plus the cost of those employees’ indirect supplies and allocation of facilities expenses. Our R&D team focuses both on internal design development in order to develop our products and solutions, and on custom design development aimed at addressing our customers’ unique design challenges. Engineering and R&D costs for the three months ended June 30, 2026 were down compared to the three months ended June 30, 2025 due to lower engineering employee and consultant compensation costs.
| Three Months Ended June 30, | |||||||||||||||
2026 | 2025 | |||||||||||||||
| % of | | | % of | | | ||||||||||
Amount | Revenue | Amount | Revenue | $ Change | % Change | |||||||||||
(in thousands, except percentages) | ||||||||||||||||
Selling, general and administrative | $ | 1,164 | 30.9 | % | $ | 1,109 | 32.5 | % | $ | 55 | 5.0 | % | ||||
24
Selling, general and administrative expenses consist primarily of compensation expenses for sales and administrative employees, legal and other professional fees, facilities expenses, communication expenses, and intangible asset amortization expense. Selling, general and administrative costs for the three months ended June 30, 2026 were up compared to the three months ended June 30, 2025 due to higher costs for compensation, professional fees and consultants.
| Three Months Ended June 30, |
| ||||||||||||||
2026 | 2025 |
| ||||||||||||||
% of | % of |
| ||||||||||||||
| Amount | | Revenue | | Amount | | Revenue | | $ Change | | % Change |
| ||||
(in thousands, except percentages) |
| |||||||||||||||
Other income (expense), net | $ | (15) | (0.4) | % | $ | 25 | 0.7 | % | $ | (40) | (160.0) | % | ||||
Other income/expense consists of non-operating income and expenses, such as gains and losses on marketable securities, foreign currency transaction gains and losses, interest income and expense, and other non-operating income and expenses. Other income/expense for the three months ended June 30, 2026 was comprised of $3,000 of interest income offset by $18,000 of foreign currency transaction losses, while other income/expense for the three months ended June 30, 2025 was comprised of $7,000 of interest income and $18,000 of foreign currency transaction gains.
| Three Months Ended June 30, | |||||||||||||||
2026 | 2025 | |||||||||||||||
Change | ||||||||||||||||
% of | % of | in % of | ||||||||||||||
| Pre-tax | | | Pre-tax | | | Pre-tax | |||||||||
Income/ | Income/ | Income/ | ||||||||||||||
Amount | Loss | Amount | Loss | $ Change | Loss | |||||||||||
(in thousands, except percentages) | ||||||||||||||||
Income tax expense (benefit) | $ | (17) |
| (7.4) | % | $ | (9) |
| (9.9) | % | $ | (8) |
| 2.5 | % | |
Income taxes were 7.4% of pre-tax income/loss for the three months ended June 30, 2026, versus 9.9% of pre-tax income/loss for the three months ended June 30, 2025. Our income taxes are impacted by the mix of domestic and foreign pre-tax earnings and losses, permanent differences between book income/loss and taxable income/loss, and our ability to utilize net operating loss carryforwards (“NOLs”). Accordingly, our effective tax rate typically will vary from the U.S. statutory tax rate of 21% from quarter to quarter. The effective tax rates for the three-month periods ended June 30, 2026 and 2025 were impacted by the amount of our foreign pre-tax income/loss and the tax expense/benefit thereon while not realizing a benefit on our domestic pre-tax loss due to the valuation allowances thereon.
Discrete tax events may cause our effective rate to fluctuate on a quarterly basis. Certain events, including, for example, acquisitions and other business changes, which are difficult to predict, may also cause our effective tax rate to fluctuate. We are subject to changing tax laws, regulations, and interpretations in multiple jurisdictions. Corporate tax reform continues to be a priority in the U.S. and other jurisdictions. Additional changes to the tax system in the U.S. could have significant effects, positive and negative, on our effective tax rate and on our deferred tax assets and liabilities.
Comparison of Six Months Ended June 30, 2026 and 2025
Revenue by the markets we serve is as follows:
| Six Months Ended June 30, |
| ||||||||||||||
2026 | 2025 |
| ||||||||||||||
% of | % of | |||||||||||||||
Amount | | Revenue | | Amount | | Revenue | | $ Change | | % Change |
| |||||
(in thousands, except percentages) |
| |||||||||||||||
Medical | $ | 2,277 |
| 33.3 | % | $ | 1,745 |
| 28.7 | % | $ | 532 | 30.5 | % | ||
Industrial |
| 1,840 |
| 26.9 | % |
| 2,265 |
| 37.3 | % |
| (425) | (18.8) | % | ||
Automotive |
| 266 | 3.9 | % | 242 | 4.0 | % | 24 | 9.9 | % | ||||||
Standard |
| 2,461 |
| 36.0 | % |
| 1,826 |
| 30.0 | % |
| 635 | 34.8 | % | ||
Revenue | $ | 6,844 |
| 100.0 | % | $ | 6,078 |
| 100.0 | % | $ | 766 | 12.6 | % | ||
25
Revenues were up in the six months ended June 30, 2026 compared to the six months ended June 30, 2025 for customers in the medical and automotive markets and for customers of our standard products and were down for customers in the industrial market. The increase in revenue from customers in the medical market was due to increased shipments of our force-sensing products and of our Calman subsidiary’s printed electronics due to higher customer demand. The decrease in revenue from customers in the industrial market was due to reduced shipments and lower demand for our gas-sensing products. In all markets, the timing of orders from our customers is not always predictable and can be less in some periods and higher in others depending on the level of their demand which is driven by their projects and operating plans.
Six Months Ended June 30, |
| |||||||||||||||
2026 | 2025 |
| ||||||||||||||
% of | % of |
| ||||||||||||||
| Amount | | Revenue | | Amount | | Revenue | | $ Change | | % Change |
| ||||
| (in thousands, except percentages) | |||||||||||||||
Gross profit | $ | 3,008 |
| 44.0 | % | $ | 2,487 |
| 40.9 | % | $ | 521 |
| 20.9 | % | |
Gross profit was up during the six months ended June 30, 2026 compared to the six months ended June 30, 2025 due primarily to higher revenues, and gross margin percentage increased due to favorable changes in our product and customer mix.
Six Months Ended June 30, |
| |||||||||||||||
2026 | 2025 |
| ||||||||||||||
% of | % of |
| ||||||||||||||
| Amount | | Revenue | | Amount | | Revenue | | $ Change | | % Change |
| ||||
| (in thousands, except percentages) | |||||||||||||||
Engineering, research and development | $ | 565 |
| 8.3 | % | $ | 797 |
| 13.1 | % | $ | (232) |
| (29.1) | % | |
Engineering and R&D costs for the six months ended June 30, 2026 were down compared to the six months ended June 30, 2025 due to lower engineering employee and consultant compensation costs.
Six Months Ended June 30, |
| |||||||||||||||
2026 | 2025 |
| ||||||||||||||
% of | % of |
| ||||||||||||||
| Amount | | Revenue | | Amount | | Revenue | | $ Change | | % Change |
| ||||
| (in thousands, except percentages) | |||||||||||||||
Selling, general and administrative | $ | 2,647 |
| 38.7 | % | $ | 2,473 |
| 40.7 | % | $ | 174 |
| 7.0 | % | |
Selling, general and administrative costs for the six months ended June 30, 2026 were up compared to the six months ended June 30, 2025 due to higher costs for compensation, professional fees and consultants.
| Six Months Ended June 30, | | ||||||||||||||
2026 | 2025 |
| ||||||||||||||
| % of | | | % of | | |
| |||||||||
Amount | Revenue | Amount | Revenue | $ Change | % Change |
| ||||||||||
(in thousands, except percentages) |
| |||||||||||||||
Other income (expense), net | $ | 45 |
| 0.7 | % | $ | 30 |
| 0.5 | % | $ | 15 |
| 50.0 | % | |
Other income/expense for the six months ended June 30, 2026 was comprised of $5,000 of interest income, $34,000 of foreign currency transaction gains, and $6,000 of other income, while other income/expense for the six months ended June 30, 2025 was comprised of $13,000 of interest income and $17,000 of foreign currency transaction gains.
Six Months Ended June 30, |
| |||||||||||||||
2026 | 2025 |
| ||||||||||||||
| | | | | | | | | | | Change |
| ||||
% of | % of | in % of |
| |||||||||||||
| Pre-tax | | Pre-tax | | Pre-tax |
| ||||||||||
Income/ | Income/ | Income/ |
| |||||||||||||
Amount | Loss | Amount | Loss | $ Change | Loss |
| ||||||||||
(in thousands, except percentages) |
| |||||||||||||||
Income tax expense (benefit) | $ | (69) |
| 43.4 | % | $ | (48) |
| 6.4 | % | $ | (21) |
| 37.0 | % | |
26
Income taxes were 43.4% of pre-tax income/loss for the six months ended June 30, 2026, versus 6.4% of pre-tax income/loss for the six months ended June 30, 2025. Our income taxes are impacted by the mix of domestic and foreign pre-tax earnings and losses, permanent differences between book income/loss and taxable income/loss, and our ability to utilize net operating loss carryforwards (“NOLs”). Accordingly, our effective tax rate typically will vary from the U.S. statutory tax rate of 21% from quarter to quarter. The effective tax rates for the six-month periods ended June 30, 2026 and 2025 were impacted by the amount of our foreign pre-tax income/loss and the tax expense/benefit thereon while not realizing a benefit on our domestic pre-tax loss due to the valuation allowances thereon.
Liquidity and Capital Resources
Cash requirements for working capital, capital expenditures, and acquisition activities have historically been funded from our cash balances, cash generated from operations, and issuances of equity securities. As of June 30, 2026, we had cash and cash equivalents of $1.8 million, working capital of $4.7 million and no indebtedness. Cash and cash equivalents consist of cash and money market funds. Of our $1.8 million of cash, $1.3 million was held by foreign subsidiaries. If these funds are needed for our operations in the U.S. or for acquisitions, we have several methods to repatriate without significant tax effects, including repayment of intercompany loans or distributions of previously taxed income. Certain methods of distribution may require us to incur U.S. or foreign taxes to repatriate these funds.
We believe that our existing cash and cash equivalents balances will be sufficient to maintain our current operations considering our current financial condition, obligations, and other expected cash flows. If our circumstances change, however, we may require additional cash. If we require additional cash, we may attempt to raise additional capital through equity, equity-linked or debt financing arrangements. If we raise additional funds by issuing equity or equity-linked securities, the ownership of our existing stockholders will be diluted. If we raise additional financing by the incurrence of indebtedness, we could be subject to fixed payment obligations and could also be subject to restrictive covenants, such as limitations on our ability to incur additional debt, and other operating restrictions that could adversely impact our ability to conduct our business. If we are unable to raise additional needed funds, we may also take measures to reduce expenses to offset any shortfall.
Cash Flow Analysis
Our cash flows from operating, investing and financing activities are summarized as follows:
| Six Months Ended June 30, | |||||
2026 | | 2025 | ||||
(in thousands) | ||||||
Net cash (used in) operating activities | $ | (829) | $ | (409) | ||
Net cash (used in) investing activities |
| (1) |
| (34) | ||
Net cash (used in) financing activities |
| — |
| (200) | ||
Net Cash (Used In) Operating Activities
For the six months ended June 30, 2026, the $829,000 of cash used in operating activities was attributable to net loss of $90,000, adjusted for non-cash charges of $320,000 and cash used in changes in operating assets and liabilities of $1,059,000. For the six months ended June 30, 2025, the $409,000 of cash used in operating activities was attributable to net loss of $705,000, adjusted for non-cash charges of $303,000 and cash used in changes in operating assets and liabilities of $7,000.
Accounts receivable increased from $1.5 million at December 31, 2025 to $2.1 million at June 30, 2026 due to higher sales in the three months ended June 30, 2026 compared to the three months ended December 31, 2025; days-sales outstanding at June 30, 2026 (47) was unchanged from December 31, 2025 (47). Many of our customers pay promptly and the accounts receivable balance is generally related to the most recent shipments. Inventories were unchanged at $1.8 million at both December 31, 2025 and June 30, 2026; inventory balances fluctuate depending on the timing of materials purchases and product shipments. Prepaid expenses and other current assets were up slightly from $0.2 million at December 31, 2025 to $0.3 million at June 30, 2026; this balance fluctuates with the timing of making prepayments versus when the benefits of those prepayments are consumed. Accounts payable, accrued liabilities, and accrued income taxes decreased from $1.3 million at December 31, 2025 to $0.9 million at June 30, 2026; the balances of these working capital liabilities fluctuate due to the timing of purchases and payments on inventories and other accruals of employee compensation and outside services.
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Net Cash (Used In) Investing Activities
Net cash used in investing activities of $1,000 and $34,000 for the six months ended June 30, 2026 and 2025, respectively, consisted of purchases of property, plant, and equipment.
Net Cash (Used In) Financing Activities
No cash was provided by or used in financing activities for the six months ended June 30, 2026. Net cash used in financing activities of $200,000 for the six months ended June 30, 2025 consisted of payment of dividends on our preferred stock. In October 2025, we converted all of our Series A Convertible Preferred Stock into common stock, which eliminated the payment of $400,000 per annum in dividends previously payable to holders of our preferred stock.
Off-Balance Sheet Arrangements
We do not have any off-balance sheet arrangements.
Item 3. Quantitative and Qualitative Disclosures About Market Risk
Not Applicable.
Item 4. Controls and Procedures
Evaluation of Disclosure Controls and Procedures
The phrase “disclosure controls and procedures” refers to controls and procedures designed to ensure that information required to be disclosed in our reports filed or submitted under the Securities Exchange Act of 1934, as amended, or the Exchange Act, such as this Quarterly Report on Form 10-Q, is recorded, processed, summarized and reported within the time periods specified in the rules and forms of the U.S. Securities and Exchange Commission, or SEC. Disclosure controls and procedures are also designed to ensure that such information is accumulated and communicated to our management, including our chief executive officer, or CEO, and chief financial officer, or CFO, as appropriate to allow timely decision regarding required disclosure.
Our management, with the participation of our CEO and CFO, has evaluated the effectiveness of our disclosure controls and procedures (as defined in Rules 13a-15(e) and 15d-15(e) under the Exchange Act), as of June 30, 2026, the end of the period covered by this Quarterly Report on Form 10-Q. Based on such evaluation, our CEO and CFO had concluded that as of June 30, 2026, our disclosure controls and procedures were designed at a reasonable assurance level and were effective to provide reasonable assurance that information we are required to disclose in reports that we file or submit under the Exchange Act is recorded, processed, summarized, and reported within the time periods specified in the rules and forms of the SEC, and that such information is accumulated and communicated to our management, including our CEO and CFO, as appropriate, to allow timely decisions regarding required disclosure.
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Changes in Internal Controls over Financial Reporting
There was no change in our internal control over financial reporting during the quarter ended June 30, 2026 that materially affected, or is reasonable likely to materially affect, our internal control over financial reporting.
Limitations on Effectiveness of Controls and Procedures
The Company’s internal control over financial reporting includes policies and procedures that (1) pertain to maintenance of records that, in reasonable detail, accurately and fairly reflect transactions and dispositions of the assets of the Company; (2) provide reasonable assurance that transactions are recorded as necessary to permit preparation of financial statements in accordance with generally accepted accounting principles, and that receipts and expenditures of the Company are being made only in accordance with authorizations of management and directors of the Company; and (3) provide reasonable assurance regarding prevention or timely detection of unauthorized acquisition, use, or disposition of the Company’s assets that could have a material effect on the financial statements.
Our management, including our CEO and CFO, does not expect that our disclosure controls or our internal control over financial reporting will prevent or detect all errors and all fraud. A control system, no matter how well designed and operated, can provide only reasonable, not absolute, assurance that the control system’s objectives will be met. Internal control over financial reporting is a process that involves human diligence and compliance and is subject to lapses in judgment and breakdowns resulting from human failures. In addition, the design of any system of controls is based in part on certain assumptions about the likelihood of future events, and controls may become inadequate if conditions change. There can be no assurance that any design will succeed in achieving its stated goals under all potential future conditions.
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PART II: OTHER INFORMATION
Item 1A. Risk Factors
This Quarterly Report on Form 10-Q contains forward-looking statements, which are subject to a variety of risks and uncertainties. Actual results could differ materially from those anticipated in those forward-looking statements as a result of various factors, including those set forth in the risk factors relating to our business and common stock contained in Item 1A of our Annual Report on Form 10-K filed with the SEC on March 26, 2026. There have been no material changes to such risk factors during the three months ended June 30, 2026.
Item 5. Other Information
Insider Trading Arrangements
During the three months ended June 30, 2026, no director or officer (as defined in Rule 16a-1(f) under the Exchange Act) of the Company
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Item 6. Exhibits
Exhibit |
|
|
| Incorporated by Reference |
| Filed | ||||||
Number | | Exhibit Description | | Form | | File Number | | Exhibit | | Filing Date | | Herewith |
3.1 |
|
| 10 |
| 000-21858 |
| 3.1 |
| February 17, 2016 |
| ||
3.2 | 8-K | 001-37659 | 3.1 | October 25, 2021 | ||||||||
3.2.1 | Certificate of Amendment of Certificate of Designations of Series A preferred Stock | 8.K | 001-37659 | 3.1 | November 23, 2021 | |||||||
3.3 |
|
| 10 |
| 000-21858 |
| 3.2 |
| February 17, 2016 |
| ||
3.4 |
|
| 10 |
| 000-21858 |
| 3.3 |
| February 17, 2016 |
| ||
4.1 | 10 | 000-21858 | 4.1 | February 17, 2016 | ||||||||
31.1 |
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| X | |||||
31.2 |
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|
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| X | |||||
32.1* |
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| X | |||||
101.INS |
| XBRL Instance Document |
|
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| X | ||||
101.SCH |
| XBRL Taxonomy Extension Schema Document |
|
|
|
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| X | ||||
101.CAL |
| XBRL Taxonomy Extension Calculation Linkbase Document |
|
|
|
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| X | ||||
101.DEF |
| XBRL Taxonomy Extension Definition Linkbase Document |
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| X | ||||
101.LAB |
| XBRL Taxonomy Extension Label Linkbase Document |
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| X | ||||
101.PRE |
| XBRL Taxonomy Extension Presentation Linkbase Document |
|
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| X | ||||
104 | The cover page from Interlink Electronics, Inc.’s Quarterly Report on Form 10-Q for the quarter ended June 30, 2026, formatted in iXBRL (Inline eXtensible Business Reporting Language) and contained in Exhibit 101. | X | ||||||||||
*The information in this exhibit is furnished and deemed not filed with the Securities and Exchange Commission for purposes of section 18 of the Exchange Act of 1934, as amended, and is not to be incorporated by reference into any filing of Interlink Electronics, Inc. under the Securities Act of 1933, as amended, or the Exchange Act of 1934, as amended, whether made before or after the date hereof, regardless of any general incorporation language in such filing.
31
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.
Date: August 13, 2026 | | Interlink Electronics, Inc. | |
(Registrant) | |||
By: | /s/ Ryan J. Hoffman | ||
| Ryan J. Hoffman | ||
| Chief Financial Officer | ||
| (Principal Financial and Accounting Officer) | ||
32