Interlink Electronics Inc 10-Q for FY2026 Q1

Interlink Electronics Inc (LINK)

10-Q 2026-05-14 For: 2026-03-31

Added on May 15, 2026

About this 10-Q

Interlink Electronics Inc filed this 10-Q on May 14, 2026, covering the quarter ended March 31, 2026 (FY2026 Q1).

Headline figures

Quarter ended March 31, 2026, as reported in this filing, compared with the same period a year earlier where the filing states it.

Revenue: $3.07M; up 15.4% from $2.66M a year earlier
Net loss: $338K; compared with a net loss of $805K a year earlier
Diluted EPS: -$0.02; compared with -$0.06 a year earlier

Search and read filings like this one from Claude or ChatGPT with the SEC filings MCP server →


Nevada		77-0056625
(State or other jurisdiction of		(I.R.S. Employer
incorporation or organization)		Identification No.)


Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock, $0.001 par value per share	LINK	The Nasdaq Stock Market LLC

Large accelerated filer ☐		Accelerated filer ☐
Non-accelerated filer ☒		Smaller reporting company ☒
		Emerging growth company ☐


		Page No.

PART I -- FINANCIAL INFORMATION

Item 1.	Financial Statements (unaudited)	3

	Condensed Consolidated Balance Sheets	3

	Condensed Consolidated Statements of Operations	4

	Condensed Consolidated Statements of Comprehensive Income (Loss)	5

	Condensed Consolidated Statements of Stockholders’ Equity	6

	Condensed Consolidated Statements of Cash Flows	7

	Notes to Condensed Consolidated Financial Statements	8

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	21

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	25

Item 4.	Controls and Procedures	26

PART II -- OTHER INFORMATION

Item 1A.	Risk Factors	27

Item 5.	Other Information	27

Item 6.	Exhibits	28

Signatures		29


		March 31,			December 31,
		2026			2025

		(in thousands, except par value)
ASSETS
Current assets
Cash and cash equivalents		$	2,106		$	2,724
Accounts receivable, net			1,709			1,542
Inventories			1,987			1,801
Prepaid expenses and other current assets			280			236
Total current assets			6,082			6,303
Property, plant and equipment, net			422			474
Intangible assets, net			1,139			1,333
Goodwill			2,539			2,586
Right-of-use assets			669			760
Deferred tax assets			215			202
Other assets			76			80
Total assets		$	11,142		$	11,738

LIABILITIES AND STOCKHOLDERS’ EQUITY
Current liabilities
Accounts payable		$	1,039		$	985
Accrued liabilities			305			330
Lease liabilities, current			304			324
Accrued income taxes			29			24
Total current liabilities			1,677			1,663

Long-term liabilities
Lease liabilities, long term			419			493
Deferred tax liabilities			305			361
Total long-term liabilities			724			854
Total liabilities			2,401			2,517

Commitments and contingencies (Note 9)			—			—

Stockholders’ equity
Preferred stock, $0.01 par value: 1,000 shares authorized, no shares issued or outstanding at March 31, 2026 and December 31, 2025			—			—
Common stock, $0.001 par value: 30,000 shares authorized, 15,750 shares issued and outstanding at both March 31, 2026 and December 31, 2025			16			16
Additional paid-in-capital			62,601			62,594
Accumulated other comprehensive income			257			406
Accumulated deficit			(54,133)			(53,795)
Total stockholders’ equity			8,741			9,221
Total liabilities and stockholders’ equity		$	11,142		$	11,738


		Three Months Ended March 31,
		2026			2025

		(in thousands, except per share data)
Revenue		$	3,074		$	2,664
Cost of revenue			1,738			1,715
Gross profit			1,336			949
Operating expenses:
Engineering, research and development			303			434
Selling, general and administrative			1,483			1,364
Total operating expenses			1,786			1,798
(Loss) from operations			(450)			(849)
Other income (expense), net			60			5
(Loss) before income taxes			(390)			(844)
Income tax expense (benefit)			(52)			(39)
Net (loss)		$	(338)		$	(805)

Net (loss) applicable to common stockholders		$	(338)		$	(905)
Earnings (loss) per common share – basic and diluted		$	(0.02)		$	(0.06)
Weighted average common shares outstanding – basic and diluted			15,750			14,796


															Accumulated
												Additional			Other						Total
		Preferred Stock					Common Stock					Paid-in-			Comprehensive			Accumulated			Stockholders’
Three Months Ended March 31, 2026		Shares		Amount			Shares		Amount			Capital			Income (Loss)			Deficit			Equity
(in thousands)
Balance at December 31, 2025		—		$	—		15,750		$	16		$	62,594		$	406		$	(53,795)		$	9,221
Net (loss)		—			—		—			—			—			—			(338)			(338)
Stock-based compensation expense		—			—		—			—			7			—			—			7
Foreign currency translation adjustment		—			—		—			—			—			(149)			—			(149)
Balance at March 31, 2026		—		$	—		15,750		$	16		$	62,601		$	257		$	(54,133)		$	8,741


		Three Months			Three Months
		Ended			Ended
		March 31,			March 31,
		2026			2025

Allowance for expected credit losses		(in thousands)
Balance, beginning of period		$	51		$	34
Provisions for expected credit losses, net of recoveries			1			5
Foreign currency exchange rate changes			(1)			1
Balance, end of period		$	51		$	40


	Weighted	March 31, 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	5 Years	$	943	$	(825)	$	118	$	948	$	(817)	$	131
Developed technology	3.5 Years		644		(537)		107		654		(504)		150
Customer relationships	6 Years		1,496		(806)		690		1,525		(761)		764
Non-compete agreements	4 Years		962		(738)		224		981		(693)		288
Total intangible assets, net		$	4,045	$	(2,906)	$	1,139	$	4,108	$	(2,775)	$	1,333


Years ending December 31,	(in thousands)
2026 (remainder of year)	$	416
2027		369
2028		285
2029		69
	$	1,139


		(in thousands)
Balance as of January 1, 2026		$	2,586
Adjustment to goodwill, foreign currency exchange rate changes			(47)
Balance as of March 31, 2026		$	2,539


		(in thousands)
Balance as of January 1, 2025		$	2,658
Adjustment to goodwill, acquisition price allocation of Conductive Transfers			(232)
Adjustment to goodwill, foreign currency exchange rate changes			65
Balance as of March 31, 2025		$	2,491


		Three Months Ended
		March 31,
		2026			2025

		(in thousands, except per share data)
Net (loss)		$	(338)		$	(805)
Less: Preferred stock dividends			—			(100)
Net (loss) applicable to common stockholders		$	(338)		$	(905)

Weighted average common shares outstanding – basic			15,750			14,796
Dilutive potential common shares from convertible preferred stock and restricted stock units			—			—
Weighted average common shares outstanding – diluted			15,750			14,796

Earnings (loss) per common share, basic		$	(0.02)		$	(0.06)
Earnings (loss) per common share, diluted		$	(0.02)		$	(0.06)

Shares issuable upon conversion of Series A Convertible Preferred Stock excluded from calculation because their conversion would be anti-dilutive			—			900
Shares subject to restricted stock units excluded from calculation because their effect would be anti-dilutive			47			47


				Weighted-
				Average
				Grant-Date
				Fair Value
Nonvested Restricted Stock Units		Shares		(per share)
Nonvested at January 1, 2026		46,875		$	2.90
Granted		—			—
Vested		—			—
Forfeited		—			—
Nonvested at March 31, 2026		46,875		$	2.90

Date: May 14, 2026		Interlink Electronics, Inc.
		(Registrant)

		By:	/s/ Ryan J. Hoffman
			Ryan J. Hoffman
			Chief Financial Officer
			(Principal Financial and Accounting Officer)


		March 31,			December 31,
		2026			2025

Inventories		(in thousands)
Raw materials		$	1,459		$	1,344
Work-in-process			230			204
Finished goods			298			253
Total inventories		$	1,987		$	1,801


		March 31,			December 31,
		2026			2025

		(in thousands)
United States		$	1,045		$	1,122
Europe			3,698			3,973
Asia			317			340
Total long-lived assets		$	5,060		$	5,435


	Three months ended March 31,
	2026				2025
	Due from		Due to		Due from		Due to
	Qualstar		Qualstar		Qualstar		Qualstar

	(in thousands)
Balance at January 1,	$	5	$	25	$	8	$	12
Billed (or accrued) to Qualstar by Interlink		67		—		121		—
Paid by Qualstar to Interlink		(17)		—		(118)		—
Billed (or accrued) to Interlink by Qualstar		—		39		—		49
Paid by Interlink to Qualstar		—		(25)		—		—
Balance at March 31,	$	55	$	39	$	11	$	61


Years ending December 31,	(in thousands)
2026 (remainder of year)	$	273
2027		299
2028		158
2029		88
2030		—
Total undiscounted future non-cancelable minimum lease payments		818
Less: imputed interest		(95)
Present value of lease liabilities	$	723

Date: May 14, 2026		/s/ Steven N. Bronson
		Steven N. Bronson, Chief Executive Officer
		(Principal Executive Officer)

Date: May 14, 2026		/s/ Ryan J. Hoffman
		Ryan J. Hoffman, Chief Financial Officer
		(Principal Financial and Accounting Officer)

Date: May 14, 2026		/s/ Steven N. Bronson
		Steven N. Bronson
		Chief Executive Officer
		(Principal Executive Officer)

Date: May 14, 2026		/s/ Ryan J. Hoffman
		Ryan J. Hoffman
		Chief Financial Officer
		(Principal Financial and Accounting Officer)