Mission Statement, Vision, & Core Values (2024) of Interlink Electronics, Inc. (LINK)

An Overview of Interlink Electronics, Inc. (LINK)

General Summary of the Company

Interlink Electronics, Inc. (LINK) is a technology company specializing in the design and manufacture of advanced human-machine interface (HMI) products. Founded in 1985, Interlink has established itself as a leader in the development of force-sensing technologies and printed electronics. The company’s primary products include force-sensors, membrane switches, and printed electronics, which are utilized in various applications across the medical, industrial, and consumer markets.

As of 2024, Interlink Electronics reported total sales of approximately $8.69 million for the nine months ended September 30, 2024, a decrease from $10.4 million during the same period in 2023. The decline in sales was primarily attributed to reduced demand in certain sectors, particularly medical and industrial markets, where significant custom products are sold.

Company's Financial Performance in the Latest Financial Reports

In the latest financial reporting period, Interlink Electronics reported a net loss of $1.57 million for the nine months ended September 30, 2024, compared to a net income of $65,000 in the same period of the previous year. The gross profit for this period was $3.63 million, reflecting a gross margin of 42.1%, down from 49.1% in 2023.

The breakdown of revenues by market for the nine months ended September 30, 2024 is as follows:

Operating expenses for the same period totaled $5.20 million, an increase from $4.97 million in 2023. The increase was largely due to higher selling, general, and administrative expenses attributed to the amortization related to the Calman acquisition.

Introduction to Company as One of the Leaders in the Industry

Interlink Electronics, Inc. is recognized as a leader in the HMI industry, particularly in the development of force-sensing technology and printed electronics. The company’s innovative products serve a diverse range of applications, making it a significant player in sectors such as medical devices, industrial automation, and consumer electronics. Despite recent challenges in revenue, Interlink continues to leverage its extensive experience and technological expertise to adapt to market demands and enhance its product offerings.

Investors and stakeholders are encouraged to explore further to understand the strategic initiatives and operational advancements that position Interlink Electronics for future growth in the evolving technology landscape.

Mission Statement of Interlink Electronics, Inc. (LINK)

Mission Statement Overview

The mission statement of Interlink Electronics, Inc. (LINK) serves as a foundational guide for the company's operations and strategic direction. It articulates the organization's purpose and the principles that drive its business decisions. The mission statement reflects a commitment to innovation, quality, and customer satisfaction, emphasizing the importance of delivering high-quality products and services to its diverse market sectors.

Core Component 1: Innovation

Innovation is a key pillar of Interlink Electronics’ mission statement. The company prioritizes research and development to create cutting-edge products that meet the evolving needs of its customers. For instance, during the nine months ended September 30, 2024, Interlink reported engineering, research, and development expenses amounting to $1.572 million, which constituted 18.1% of its total revenue. This investment underscores the company's dedication to advancing technology in the fields of medical, industrial, and consumer markets.

Core Component 2: Quality

Quality is paramount in Interlink Electronics' mission. The company strives to uphold rigorous standards in its manufacturing processes to ensure that its products are reliable and effective. In the third quarter of 2024, the gross profit was reported at $1.105 million, with a gross margin of 41.4%, indicating that despite challenges in revenue, the company maintains a focus on high-quality outputs. This emphasis on quality not only enhances customer trust but also fosters long-term relationships with clients across various sectors.

Core Component 3: Customer Satisfaction

Customer satisfaction is integral to Interlink's mission statement. The company actively seeks feedback and adapts its offerings to better serve its clients. For example, revenue from the medical market saw a decline of 31.2% year-over-year, dropping from $831,000 in Q3 2023 to $572,000 in Q3 2024. This shift reflects the company's responsiveness to market dynamics and its commitment to understanding customer needs, even in fluctuating conditions. Furthermore, the ability to navigate such changes demonstrates Interlink's agility in ensuring customer satisfaction remains a priority.

Vision Statement of Interlink Electronics, Inc. (LINK)

Vision Statement Overview

Interlink Electronics, Inc. (LINK) envisions a future where innovative technology enhances connectivity and interaction across diverse industries. The core of their vision focuses on delivering advanced touch and sensor solutions that empower users and drive efficiency.

Commitment to Innovation

The company prioritizes innovation as a fundamental aspect of its vision. Interlink aims to lead in the development of cutting-edge products that meet the evolving needs of its customers. This commitment is reflected in their substantial investment in research and development.

• R&D expenses for the nine months ended September 30, 2024, were $1.572 million, accounting for 18.1% of total revenue.
• In comparison, R&D expenses for the same period in 2023 were $1.765 million, or 17.0% of total revenue.

Focus on Customer Satisfaction

Interlink Electronics emphasizes customer satisfaction as a critical pillar of its vision. The company strives to build lasting relationships by understanding customer needs and providing tailored solutions.

Sustainability and Ethical Practices

Interlink is committed to sustainability and ethical business practices, which are integral to its vision. The company seeks to minimize its environmental footprint while promoting social responsibility.

• As of September 30, 2024, Interlink reported cash and cash equivalents of $3.8 million, reflecting its financial stability to support sustainable initiatives.
• The company has been actively involved in reducing waste and enhancing energy efficiency within its operations.

Global Reach and Market Expansion

The vision of Interlink Electronics also includes expanding its global footprint. The company aims to penetrate new markets and strengthen its presence in existing ones.

• As of September 30, 2024, approximately $2.5 million of cash was held by foreign subsidiaries, indicating readiness for global operations.
• Interlink aims to leverage its technology in various sectors, including medical, industrial, and consumer markets, to drive growth.

Core Values of Interlink Electronics, Inc. (LINK)

Integrity

Integrity is a fundamental value at Interlink Electronics, Inc. It emphasizes honesty, transparency, and ethical behavior in all business dealings. Upholding integrity fosters trust with customers, partners, and employees.

In 2024, Interlink has demonstrated its commitment to integrity through various initiatives:

• The company has implemented a strict code of ethics that all employees are required to follow, ensuring that business practices align with its values.
• Regular training sessions are conducted to reinforce ethical behavior and compliance with legal standards.
• Interlink's commitment to integrity is evident in its transparent reporting practices, as seen in its financial disclosures for the nine months ended September 30, 2024, where it reported a net loss of $1,571,000, reflecting its honest approach to financial performance.

Innovation

Innovation drives Interlink Electronics, Inc. to develop cutting-edge technologies and solutions. This core value is essential for maintaining a competitive edge in the rapidly evolving electronics industry.

Interlink has invested significantly in research and development (R&D), with R&D expenses totaling $1,572,000 for the nine months ended September 30, 2024. Key initiatives include:

• The launch of new products tailored to the medical and industrial markets, reflecting a focus on meeting customer needs.
• Collaboration with academic institutions for advanced research projects, enhancing product development capabilities.
• Adoption of advanced manufacturing techniques to improve product quality and reduce costs, contributing to a gross profit of $3,663,000 during the same period.

Customer Focus

Customer focus is pivotal for Interlink Electronics, Inc. The company prioritizes understanding and meeting the needs of its clients, ensuring satisfaction and loyalty.

In 2024, Interlink has taken several steps to enhance customer focus:

• Implementation of a customer feedback system to gather insights and improve products and services.
• Increased responsiveness to customer inquiries and support requests, with a commitment to resolving issues swiftly.
• Sales data from the nine months ended September 30, 2024, show that revenue from standard products increased by 13.8%, indicating a positive response to customer demands.

Collaboration

Collaboration is essential for fostering a culture of teamwork and shared success at Interlink Electronics, Inc. This value promotes effective communication and cooperation among employees and stakeholders.

Interlink has enhanced collaboration through various initiatives:

• Cross-functional teams have been established to drive innovation and improve project outcomes.
• The company encourages open communication channels, allowing employees to share ideas and solutions effectively.
• Financial results indicate that collaboration has led to improved operational efficiency, as reflected in a reduction of selling, general, and administrative expenses to $3,631,000, despite overall revenue decline.

Excellence

Excellence reflects Interlink Electronics, Inc.'s commitment to delivering high-quality products and services consistently. This core value drives continuous improvement across all operations.

In 2024, Interlink has demonstrated its pursuit of excellence through:

• Adherence to rigorous quality control standards in manufacturing processes.
• Investment in employee training programs to enhance skills and performance.
• The company achieved a gross margin of 42.1% for the nine months ended September 30, 2024, showcasing its commitment to operational excellence.

Updated on 16 Nov 2024

Resources:

1. 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.
2. 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.