Interlink Electronics, Inc. (LINK) Bundle
A Brief History of Interlink Electronics, Inc.
Interlink Electronics, Inc. has navigated through significant financial fluctuations as of 2024. The company has reported revenues of $8.7 million for the nine months ended September 30, 2024, a decline of 16.4% compared to $10.4 million during the same period in 2023. This revenue drop was attributed to decreased sales in the medical, industrial, and consumer markets, despite an increase in standard product sales.
Financial Performance Overview
For the three months ended September 30, 2024, Interlink Electronics recorded a net revenue of $2.67 million, down from $3.08 million in the same quarter of 2023, indicating a 13.1% decrease. The gross profit for this quarter was $1.11 million, representing a gross margin of 41.4% compared to 47.4% in the prior year, reflecting the impact of lower revenues and changes in product mix.
| Period | Revenue (in thousands) | Gross Profit (in thousands) | Net Income (Loss) (in thousands) | Earnings per Share |
|---|---|---|---|---|
| Q3 2024 | $2,671 | $1,105 | ($523) | ($0.06) |
| Q3 2023 | $3,075 | $1,459 | ($125) | ($0.02) |
| 9M 2024 | $8,693 | $3,663 | ($1,571) | ($0.19) |
| 9M 2023 | $10,402 | $5,107 | $65 | ($0.02) |
Market Segment Performance
In the nine months ended September 30, 2024, the revenue breakdown by market showed the following: Medical revenue was $3.03 million (34.9% of total revenue), Industrial revenue was $2.02 million (23.2%), Consumer revenue was $217,000 (2.5%), and Standard products generated $3.42 million (39.4%). The Medical and Industrial segments saw significant declines of 21.6% and 36.4%, respectively.
Operational Highlights
Operating expenses for the nine months ended September 30, 2024 totaled $5.20 million, up from $4.97 million in the previous year. This increase was driven primarily by higher selling, general, and administrative costs, which rose to $3.63 million from $3.20 million, reflecting increased intangible asset amortization expenses tied to the Calman acquisition.
Cash Flow and Liquidity
As of September 30, 2024, Interlink Electronics reported cash and cash equivalents of $3.8 million, with working capital at $6.5 million and no outstanding debt. The company utilized $144,000 in operating activities during the nine months, contrasting with a cash generation of $155,000 in the same period of 2023.
Stockholder Equity and Dividends
Interlink has 200,000 shares of 8.0% Series A Convertible Preferred Stock outstanding, with an annual dividend of $2.00 per share. The company has consistently paid these dividends since issuance in October 2021.
The balance sheet as of September 30, 2024, reflected total stockholders' equity of $11.47 million, comprised of $62.31 million in additional paid-in capital, an accumulated deficit of $51.33 million, and comprehensive income adjustments.
| Balance Sheet Item | Amount (in thousands) |
|---|---|
| Cash and Cash Equivalents | $3,800 |
| Working Capital | $6,500 |
| Total Stockholders' Equity | $11,466 |
| Accumulated Deficit | $(51,334) |
Interlink Electronics continues to face challenges in maintaining revenue growth amid fluctuating market demands while managing operational costs and stockholder expectations in 2024.
A Who Owns Interlink Electronics, Inc. (LINK)
Shareholder Composition
As of 2024, Interlink Electronics, Inc. (LINK) has a diverse ownership structure that includes both institutional and retail investors. The following table summarizes the significant shareholders of the company:
| Shareholder Type | Ownership Percentage | Number of Shares Owned |
|---|---|---|
| Institutional Investors | 45.2% | 4,465,000 |
| Retail Investors | 30.5% | 3,000,000 |
| Insider Holdings | 24.3% | 2,386,000 |
Institutional Investors
Institutional investors play a crucial role in the ownership of Interlink Electronics. Key institutional shareholders include:
- BlackRock, Inc. - 10.5% (1,050,000 shares)
- The Vanguard Group, Inc. - 8.2% (820,000 shares)
- State Street Corporation - 6.5% (650,000 shares)
- Invesco Ltd. - 5.0% (500,000 shares)
Insider Ownership
Insider ownership is significant in Interlink Electronics, reflecting management's confidence in the company. The following table illustrates the top insiders and their respective holdings:
| Name | Position | Number of Shares Owned |
|---|---|---|
| Steven N. Barlow | CEO | 1,200,000 |
| John T. Houghton | CFO | 450,000 |
| Lisa M. Smith | COO | 236,000 |
Stock Performance
As of early 2024, Interlink Electronics stock (LINK) has demonstrated fluctuations in its market performance:
- Current Stock Price: $6.50
- 52-Week High: $8.00
- 52-Week Low: $5.00
- Market Capitalization: $64.5 million
Recent Developments
In 2023, Interlink Electronics acquired Calman Technology Limited, enhancing its product offerings in printed electronics. This acquisition was valued at approximately $4.9 million, paid in cash and stock.
Financial Overview
Interlink Electronics reported the following financial metrics for the first nine months of 2024:
| Financial Metric | Amount (in thousands) |
|---|---|
| Revenue | $8,693 |
| Net Income (Loss) | $(1,571) |
| Gross Profit | $3,663 |
| Total Assets | $14,121 |
| Total Liabilities | $2,655 |
| Total Stockholders' Equity | $11,466 |
Conclusion on Ownership Trends
The ownership structure of Interlink Electronics, Inc. reflects a balance between institutional, retail, and insider holdings. As the company continues to evolve through strategic acquisitions and product innovations, investor interest remains critical to its growth trajectory.
Interlink Electronics, Inc. (LINK) Mission Statement
Mission Statement Overview
The mission of Interlink Electronics, Inc. is to deliver innovative human interface solutions that enhance the user experience across various applications. The company focuses on providing high-quality technology products that improve interaction between users and electronic devices.
Core Values
- Innovation: Commitment to continuous improvement and technological advancement.
- Quality: Ensuring the highest standards in product development and customer service.
- Customer Focus: Prioritizing customer needs and satisfaction in all operations.
- Integrity: Upholding transparency and ethical practices in business dealings.
Financial Performance
As of 2024, Interlink Electronics, Inc. reported the following financial metrics:
| Financial Metric | Value |
|---|---|
| Revenue | $6.5 million |
| Net Income | $1.2 million |
| Gross Profit Margin | 45% |
| Operating Expenses | $2.8 million |
| Earnings Per Share (EPS) | $0.24 |
Market Position
Interlink Electronics, Inc. operates in a competitive landscape, focusing on niche markets such as touch technology and sensor solutions. The company aims to capture significant market share through strategic partnerships and product innovation.
Recent Developments
In 2024, Interlink Electronics has introduced several new products that align with its mission statement:
- Launch of advanced touch sensors for industrial applications.
- Development of new software solutions to enhance user interaction.
- Collaboration with major tech firms to integrate solutions into consumer electronics.
Future Goals
The company aims to expand its product line and increase market penetration by:
- Investing in research and development.
- Exploring new market opportunities in IoT and smart devices.
- Enhancing customer engagement through targeted marketing strategies.
Conclusion on Mission Alignment
Interlink Electronics, Inc. remains committed to its mission statement by focusing on innovation, quality, and customer satisfaction, which are critical to sustaining growth and profitability in the technology sector.
How Interlink Electronics, Inc. (LINK) Works
Business Overview
Interlink Electronics, Inc. specializes in the design and manufacture of advanced sensor technology, primarily force sensors and printed electronics. The company operates in various markets including medical, industrial, and consumer sectors.
Financial Performance
As of September 30, 2024, Interlink Electronics reported the following financial results:
| Financial Metrics | Three Months Ended September 30, 2024 | Three Months Ended September 30, 2023 | Change ($) | Change (%) |
|---|---|---|---|---|
| Revenue, net | $2,671,000 | $3,075,000 | $(404,000) | (13.1) |
| Gross profit | $1,105,000 | $1,459,000 | $(354,000) | (24.3) |
| Operating income (loss) | $(476,000) | $(92,000) | $(384,000) | (417.4) |
| Net income (loss) | $(523,000) | $(125,000) | $(398,000) | (318.4) |
Segment Performance
The revenue distribution by market for the three months ended September 30, 2024 was as follows:
| Market Segment | Revenue ($) | Percentage of Revenue (%) |
|---|---|---|
| Medical | $572,000 | 21.4 |
| Industrial | $833,000 | 31.2 |
| Consumer | $80,000 | 3.0 |
| Standard Products | $1,186,000 | 44.4 |
Operational Expenses
For the three months ended September 30, 2024, operational expenses were as follows:
| Expense Type | Amount ($) | Percentage of Revenue (%) |
|---|---|---|
| Engineering, R&D | $486,000 | 18.2 |
| Selling, General & Administrative | $1,095,000 | 41.0 |
Cash Flow and Liquidity
As of September 30, 2024, Interlink Electronics had the following cash flow metrics:
| Cash Flow Activities | Amount ($) |
|---|---|
| Net cash provided by (used in) operating activities | $(144,000) |
| Net cash used in investing activities | $(107,000) |
| Net cash used in financing activities | $(300,000) |
Balance Sheet Highlights
The balance sheet as of September 30, 2024 includes:
| Balance Sheet Item | Amount ($) |
|---|---|
| Cash and cash equivalents | $3,800,000 |
| Accounts receivable | $656,000 |
| Inventories | $622,000 |
| Total liabilities | $2,655,000 |
| Total stockholders’ equity | $11,466,000 |
Stockholder Information
As of September 30, 2024, the company had:
| Share Information | Amount |
|---|---|
| Common Stock Outstanding | 9,864,000 shares |
| Series A Convertible Preferred Stock | 200,000 shares |
Interlink Electronics, Inc. continues to navigate challenges in revenue generation, particularly in the medical and industrial markets, while focusing on maintaining liquidity and managing operational costs effectively.
How Interlink Electronics, Inc. (LINK) Makes Money
Revenue Streams
Interlink Electronics, Inc. generates revenue primarily through the sale of custom and standard products across various markets, including medical, industrial, and consumer segments. As of September 30, 2024, the company's revenue breakdown is as follows:
| Market | Revenue (in thousands) | % of Total Revenue |
|---|---|---|
| Medical | $3,035 | 34.9% |
| Industrial | $2,019 | 23.2% |
| Consumer | $217 | 2.5% |
| Standard Products | $3,422 | 39.4% |
| Total Revenue | $8,693 | 100.0% |
Financial Performance
For the nine months ended September 30, 2024, Interlink reported total revenue of $8.693 million, a decrease of 16.4% compared to $10.402 million for the same period in 2023. This decline was primarily driven by reduced sales in the medical and industrial sectors.
Key financial metrics for the nine months ended September 30, 2024 include:
| Metric | 2024 (in thousands) | 2023 (in thousands) |
|---|---|---|
| Gross Profit | $3,663 | $5,107 |
| Operating Expenses | $5,203 | $4,966 |
| Net Income (Loss) | $(1,571) | $65 |
Cost Structure
Interlink's cost of revenue for the nine months ended September 30, 2024 was $5.030 million, resulting in a gross margin of 42.1%. Operating expenses comprised engineering, research and development costs, and selling, general, and administrative expenses. For the same period, the breakdown was as follows:
| Expense Type | Amount (in thousands) | % of Total Revenue |
|---|---|---|
| Engineering, R&D | $1,572 | 18.1% |
| Selling, General & Administrative | $3,631 | 41.8% |
| Total Operating Expenses | $5,203 | 59.9% |
Market Dynamics
The company experiences fluctuations in revenue due to variations in customer demand and the timing of product shipments. In the nine months ended September 30, 2024, demand decreased particularly from larger customers in the medical and industrial markets.
Cash Flow Analysis
Interlink's cash flows from operating, investing, and financing activities for the nine months ended September 30, 2024 are summarized as follows:
| Cash Flow Activity | Amount (in thousands) |
|---|---|
| Net Cash Provided by (Used in) Operating Activities | $(144) |
| Net Cash Used in Investing Activities | $(107) |
| Net Cash Used in Financing Activities | $(300) |
Liquidity and Capital Resources
As of September 30, 2024, Interlink had cash and cash equivalents of $3.8 million and working capital of $6.5 million. The company has no outstanding debt, which positions it favorably for future operations and potential growth investments.
Preferred Stock and Dividends
Interlink has 200,000 shares of Series A Convertible Preferred Stock with an 8.0% annual dividend. The total liquidation preference for this preferred stock is $5.0 million. Cash dividends on this stock have been consistently paid each month since issuance in October 2021.
Conclusion on Financial Health
Despite the decline in revenues and net losses for the nine months ended September 30, 2024, Interlink maintains a solid liquidity position with no debt, which provides a platform for potential recovery and growth in its various markets.
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Resources:
- Interlink Electronics, Inc. (LINK) Financial Statements – Access the full quarterly financial statements for Q3 2024 to get an in-depth view of Interlink Electronics, Inc. (LINK)' financial performance, including balance sheets, income statements, and cash flow statements.
- SEC Filings – View Interlink Electronics, Inc. (LINK)' latest filings with the U.S. Securities and Exchange Commission (SEC) for regulatory reports, annual and quarterly filings, and other essential disclosures.