Form 8-K

8-K — CVD EQUIPMENT CORP

Accession: 0001493152-26-023041

Filed: 2026-05-14

Period: 2026-05-14

CIK: 0000766792

SIC: 3559 (SPECIAL INDUSTRY MACHINERY, NEC)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

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2026-05-14

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

WASHINGTON,

DC 20549

FORM

8-K

CURRENT

REPORT PURSUANT

SECTION 13 OR 15(D) OF THE

SECURITIES

EXCHANGE ACT OF 1934

Date

of report (Date of earliest event reported):

May

14, 2026

CVD

EQUIPMENT CORPORATION

(Exact

Name of Registrant as Specified in Its Charter)

New

York

1-16525

11-2621692

(State

or Other Jurisdiction of

Incorporation

or Organization)

(Commission

File

Number)

(IRS

Employer

Identification

No.)

355

South Technology Drive

Central

Islip, New York

11722

(Address

of Principal Executive Offices)

(Zip

Code)

Registrant’s

Telephone Number, Including Area Code: (631) 981-7081

(Former

Name or Former Address, if Changed Since Last Report)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions (see General Instruction A.2. below):

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

Registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange on which registered

Common

Stock

CVV

NASDAQ

Capital Market

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☐

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Item

2.02. Results of Operations and Financial Condition

May 14, 2026, the Company issued a press release announcing its results of operations for the first quarter March 31, 2026.

copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference. The

information in this report (including Exhibit 99.1) is being furnished pursuant to Item 2.02 and shall not be deemed to be “filed”

for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

Item

9.01. Financial Statements and Exhibits

(d)

Exhibits

Exhibit

No.

Description

99.1

Press release dated May 14, 2026

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by

the undersigned thereunto duly authorized.

Date:

May 14, 2026

CVD

EQUIPMENT CORPORATION

By:

/s/

Richard Catalano

Name:

Richard

Catalano

Title:

Executive

Vice President, Chief Financial Officer, Secretary and Treasurer

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit

99.1

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355

South Technology Drive, Central Islip, New York 11722 | T 631.981.7081 | info@cvdequipment.com

CVD

Equipment Corporation Reports First Quarter 2026 Results

Completed

the Sale of its SDC Division as Previously Announced

CENTRAL

ISLIP, N.Y., (Business Wire) – May 14, 2026 – CVD Equipment Corporation (NASDAQ: CVV) (the “Company”) today reported

financial results for the first quarter ended March 31, 2026.

previously announced, the Company entered into an asset purchase agreement with a buyer to sell its SDC business division on March 23,

2026. This transaction was completed on April 1, 2026, whereby substantially all the business assets related to SDC were sold.

The

financial results of SDC are reflected in the Company’s condensed consolidated financial statements as discontinued operations

for all periods presented and SDC’s assets and liabilities are considered held for sale as of March 31, 2026. The Company now has

one reportable segment consisting of its CVD Equipment division which manufactures chemical vapor deposition, physical vapor transport,

thermal process and related equipment.

After

payment of transaction costs and employee related liabilities, the net cash proceeds from the sale of SDC were $14.8 million. As a result,

as of April 1, CVD Equipment had approximately $23 million in cash and no long-term debt.

Manny

Lakios, President and Chief Executive Officer of CVD Equipment Corporation, stated, “The sale of SDC has significantly strengthened

our balance sheet, providing additional financial flexibility as we continue to evaluate strategic opportunities for the CVD Equipment

business, its product lines, and our facilities. In addition, we are continuing to drive operational efficiencies and reduce our operational

costs, with an ongoing commitment to maximizing shareholder value. This included, as previously announced, a workforce reduction within

the CVD Equipment division during the fourth quarter as we transitioned from a vertically integrated fabrication model to outsource fabrication

for certain components. This action is expected to reduce our annual operating costs by approximately $1.8 million in fiscal 2026.”

Lakios

added, “In addition, we remain focused on delivering solutions across our key target markets, including aerospace and defense,

industrial applications such as silicon carbide (SiC) on graphite, and SiC for high-power electronics, as well as emerging applications,

including nuclear energy.”

First

Quarter 2026 Performance from Continuing Operations (excluding the discontinued operations of SDC)

●

Orders: $1.8 million,

an increase from $0.8 million in the prior year quarter, due to higher non-system orders for spare parts. Bookings for the CVD Equipment

business continued to be pressured by several factors, including geopolitical uncertainty, reduced U.S. government funding for universities,

and a slower pace of adoption of our solutions in certain end markets.

●

Revenue: $1.8 million,

down 70.9% as compared to prior year quarter, primarily reflecting lower CVD system revenue due to a reduced level of system bookings.

●

Backlog: $4.7 million at both March 31, 2026 and December 31, 2025.

●

Gross

margin: 8.0% versus 27.4% in the prior year quarter, primarily due to lower CVD system revenue and lower absorption of fixed manufacturing

costs.

●

Decreases in revenue and gross margin for the quarter ended March 31, 2026 from reduced system bookings were partially

offset by a $0.3 million benefit from a contract modification.

●

Net

loss from continuing operations: ($1.7 million), or ($0.25) per basic and diluted share, compared with net loss from continuing operations

of ($0.2 million), or ($0.03) per basic and diluted share, in the prior year quarter.

www.cvdequipment.com

| www.firstnano.com

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Conference

Call

conference call reviewing these results has been scheduled for today, May 14, 2026 starting at 5:00 PM ET. To join the call, dial

1-877-407-2991 or 1-201-389-0925. A live and archived webcast of the call will also be available on the company’s website at www.cvdequipment.com/events.

The archived webcast will be available approximately two hours following the end of the conference call. A telephone replay will be available

for 7 days. To access the replay, dial 1-877-660-6853 or 1-201-612-7415. The replay passcode is 13760600.

About

CVD Equipment Corporation

CVD

Equipment Corporation (NASDAQ: CVV) designs, develops, and manufactures a broad range of chemical vapor deposition, thermal processing,

physical vapor transport, and related equipment and process solutions used to develop and manufacture materials and coatings for

industrial applications and research. Our products are used in production environments as well as research and development centers, both

academic and corporate. Major target markets include aerospace & defense (ceramic matrix composites), silicon carbide (SiC) high-power

electronics, electric vehicle (EV) battery materials (carbon nanotubes, graphene and silicon nanowires), and industrial applications.

Through its application laboratory, the Company allows customers the option to bring their process tools to our laboratory and to work

collaboratively with our scientists and engineers to optimize process performance.

The

Private Securities Litigation Reform Act of 1995 provides a “safe harbor” for forward-looking statements. Certain information

included in this press release (as well as information included in oral statements or other written statements made or to be made by

CVD Equipment Corporation) contains statements that are forward-looking. All statements other than statements of historical fact are

hereby identified as “forward-looking statements, “as such term is defined in Section 27A of the Securities Act of 1933,

as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such forward looking information involves a number of

known and unknown risks and uncertainties that could cause actual results to differ materially from those discussed or anticipated by

management. Potential risks and uncertainties include, among other factors, market and business conditions, the success of CVD Equipment

Corporation’s growth and sales strategies, uncertainty as to our ability to execute on our transformation strategy, the possibility

of customer changes in delivery schedules, cancellation of, or failure to receive orders, potential delays in product shipments, delays

in obtaining inventory parts from suppliers and failure to satisfy customer acceptance requirements, competition in our existing and

potential future product lines of business, including our aerospace equipment and PVT systems; our ability to obtain financing on acceptable

terms if and when needed; uncertainty as to our ability to develop new products for growth markets; uncertainty as to our future profitability;

uncertainty as to any future expansion of the Company; uncertainty as to our ability to adequately obtain raw materials and components

from foreign markets in light of geopolitical developments; and other risks and uncertainties that are described in the Company’s

Annual Report on Form 10-K for the year ended December 31, 2024 and the Company’s other filings with the Securities and Exchange

Commission. For forward-looking statements in this release, the Company claims the protection of the safe harbor of the Private Securities

Litigation Reform Act of 1995. The Company assumes no obligations to update or supplement any forward-looking statements whether as a

result of new information, future events or otherwise.

CVD

Equipment Corporation Contact:

Richard

Catalano, Executive Vice President & CFO

Phone:

(631) 981-7081

Email:

investorrelations@cvdequipment.com

www.cvdequipment.com

| www.firstnano.com

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CVD EQUIPMENT CORPORATION AND SUBSIDIARIES

Condensed

Consolidated Statements of Operations

(In

thousands, except per share data - Unaudited)

Three Months Ended March 31,

2026

2025

Revenue

$ 1,844

$ 6,332

Cost of revenue

1,697

4,598

Gross profit

147

1,734

Operating expenses:

Research and development

727

734

Selling

240

367

General and administrative

1,022

953

Gain on sale of equipment

(46 )

Total operating expenses

1,943

2,054

Operating loss from continuing operations

(1,796 )

(320 )

Net loss from continuing operations

(1,726 )

(229 )

Net income from discontinued operations

589

Net income (loss)

$ (1,663 )

$ 360

Basic and diluted income (loss) per share

Loss from continuing operations per common share

$ (0.25 )

$ (0.03 )

Income from discontinued operations per common share

$ 0.01

$ 0.09

Net income (loss) per common share

$ (0.24 )

$ 0.05

www.cvdequipment.com

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CVD

EQUIPMENT CORPORATION AND SUBSIDIARIES

Condensed

Consolidated Balance Sheets

(In

thousands - Unaudited)

March 31, 2026

December 31, 2025

Assets

Current assets:

Cash and cash equivalents

$ 8,196

$ 8,734

Accounts receivable, net

677

1,293

Contract assets

3,347

2,853

Inventories

306

285

Current assets of discontinued operations

2,780

2,852

Assets held for sale - equipment

510

Other current assets

390

357

Total current assets

15,696

16,884

Property, plant and equipment, net

10,421

10,529

Noncurrent assets of discontinued operations

Other assets

Total assets

$ 26,214

$ 27,509

Liabilities and stockholders’ equity

Current liabilities:

Accounts payable

$ 213

$ 250

Accrued expenses

1,039

849

Current maturities of long-term debt

181

Current liabilities of discontinued operations

1,154

944

Contract liabilities

526

560

Total current liabilities

2,932

2,784

Total stockholders’ equity

23,282

24,725

Total liabilities and stockholders’ equity

$ 26,214

$ 27,509

This

earnings release should be read in conjunction with the Company’s filings with the Securities and Exchange Commission, including

the Annual Report on Form 10-K for fiscal year ended December 31, 2025.

www.cvdequipment.com

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