The following is a summary of the CVD Equipment Corporation (CVV) Q2 2024 Earnings Call Transcript:
Financial Performance:
Q2 revenue was $6.3 million, up 25.2% year-over-year but year-to-date revenue is down 18.1%.
Gross profit margin fell slightly to 25.4% from 27.4% in the previous year's comparable quarter.
Operating loss was reduced from $1.2 million in Q2 2023 to $0.9 million in Q2 2024.Net loss per share improved to $0.11 from a loss of $0.16 in Q2 2023.
Business Progress:
Shipped the newly launched PVT200 system for the production of silicon carbide.
Saw a significant increase in backlog to $24 million from $18.4 million.
Plans to focus on building critical customer relationships and achieving profitability.
Opportunities:
Strong demand for the SDC segment's gas delivery equipment.
Addressing emerging growth end markets and planning strategic customer relationship enhancements.
Risks:
Revenue and order fluctuations continue due to the nature of the emerging growth markets served.
Adverse financial impacts from specific first article systems that shipped during Q2.
More details: CVD Equipment IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.
