v3.26.1
Reportable Segments
 12 Months Ended
Dec. 31, 2025
Segment Reporting [Abstract]  
Reportable Segments

Note 12 - Reportable Segments

 

The Company has determined that it has three reportable segments, organized primarily based on product offerings, as follows:

 

 

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2025 and 2024

 

Note 12 - Reportable Segments (continued)

 

  ● CVD Equipment – manufactures chemical vapor deposition, physical vapor transport and thermal process equipment.

 

  ● SDC - manufactures ultra-high purity gas and chemical delivery control systems.

 

  ●

MesoScribe - provided electronic printing services and products (heaters, antennas, and sensors).

 

Both CVD Equipment and SDC also sell spares and parts and provide services related to the equipment each segment sells.

 

The chief operating decision maker (“CODM”) of the Company is the Company’s chief executive officer. The CODM assesses performance and decides how to allocate resources, including employees, financial or capital resources, based on segment net income (loss). The CODM considers actual-to-actual variances on a quarterly basis when making decisions about allocating capital and other resources to the segments and to assess the performance for each segment.

 

Financial results for the reportable segments and other business are prepared on a basis consistent with the internal disaggregation of financial information to assist the CODM is making internal operating decisions.

 

Certain income and expenses are excluded from segment net income (loss) and included in the unallocated amounts in the reconciliation of reportable segment net income (loss) to net loss. These items are not used by the CODM in allocating resources or evaluating the results of the segments and include the following: corporate expenses consisting of employment costs of executives, finance, information technology and human resources; board of director fees; professional fees; shareholder and investor relations expense; directors’ and officers’ insurance; interest income and income tax expense. Segment income (loss) from operations may not be consistent with measures used by other companies.

 

The following provides segment information as described below (in thousands):

 

   CVD   SDC   MesoScribe   Total 
   For the year ended December 31, 2025 
   CVD   SDC   MesoScribe   Total 
Segment revenue  $18,079   $7,937   $112   $26,128 
Less:                    
Cost of revenue   13,943    4,894    3    18,840 
Research & development   2,615    171    -    2,786 
Selling   1,205    238    -    1,443 
General & administrative   660    896    -    1,556 
Impairment   163    -    -    163 
Interest expense   13    -    -    13 
Segment net income (loss)  $(520)  $1,738   $109   $1,327 
Segment assets  $15,195   $3,972   $(2)  $19,165 
Capital expenditures  $42   $6   $-   $48 
Depreciation & amortization  $631   $52   $-   $683 

 

 

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2025 and 2024

 

Note 12 - Reportable Segments (continued)

 

   CVD   SDC   MesoScribe   Total 
   For the year ended December 31, 2024 
   CVD   SDC   MesoScribe   Total 
Segment revenue  $18,288   $8,444   $778   $27,510 
Less:                    
Cost of revenue   16,438    4,749    272    21,459 
Research & development   2,398    229    -    2,627 
Selling   1,456    195    5    1,656 
General & administrative   715    709    84    1,508 
Gain on sales of equipment   (42)   -    (675)   (717)
Other income   (2)   -         (2)
Interest expense   19    -    -    19 
Segment net income (loss)  $(2,694)   2,562    1,092    960 
Segment assets  $15,903   $3,129   $627   $19,659 
Capital expenditures  $69   $37   $-   $106 
Depreciation & amortization  $635   $49   $-   $684 

 

The following table presents a reconciliation of revenue of reportable segments to consolidated revenue (in thousands):

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
Revenue of reportable segments  $26,128   $27,510 
Intersegment revenue   (342)   (634)
Consolidated total revenue  $25,786   $26,876 

 

Intersegment revenues are determined based on similar product sales to external customers of the Company.

 

The following table presents a reconciliation of net income (loss) of reportable segments to consolidated net loss (in thousands):

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
Net income (loss) of reportable segments  $1,327   $960 
Unallocated amounts:          
Corporate expenses   (3,250)   (3,393)
Interest income   341    559 
Income tax expense   (3)   (24)
Consolidated net loss  $(1,585)  $(1,898)

 

 

CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

December 31, 2025 and 2024

 

Note 12 - Reportable Segments (continued)

 

The following table presents a reconciliation of total assets of reportable segments to consolidated total assets (in thousands):

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
Total assets of reportable segments  $19,165   $19,659 
Unallocated amounts:          
Cash equivalents   8,229    11,892 
Other current assets   115    135 
Consolidated total assets  $27,509   $31,686 

 

The following table presents revenue by geographic area (in thousands):

 

   2025   2024 
   Year ended December 31, 
   2025   2024 
United States  $24,393   $25,720 
North America, excluding US   7    65 
Europe, Middle East and Africa   819    521 
Asia-Pacific   567    570 
Consolidated total revenue  $25,786   $26,876 

 

For geographic reporting, revenues are attributed to the location in which in the customer facility is located. All of the Company’s long-lived assets are located in the United States.