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CSPI

CSP Inc.

CSPI

CSP Inc. • NASDAQ
$11.46 ▲ 0.09% (+0.01)
Market Cap $113.01 M
52w High $21.95
52w Low $9.65
Dividend Yield 0.12%
P/E -67.41
Volume 5.18K
Outstanding Shares 9.86M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $15.448M ▲ $5.676M ▲ $-264K ▼ -1.709% ▼ $-0.028 ▼ $-741K ▲
Q2-2025 $13.147M ▼ $5.201M ▲ $-108K ▼ -0.821% ▼ $-0.012 ▼ $-994K ▼
Q1-2025 $15.67M ▲ $4.918M ▼ $472K ▲ 3.012% ▲ $0.048 ▲ $631K ▲
Q4-2024 $13.033M ▼ $5.743M ▲ $-1.656M ▼ -12.706% ▼ $-0.14 ▼ $-1.541M ▼
Q3-2024 $13.105M $5.302M $-185K -1.412% $-0.02 $-5K

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $26.308M ▼ $66.784M ▼ $19.3M ▼ $47.484M ▲
Q2-2025 $29.495M ▼ $67.122M ▼ $19.669M ▼ $47.453M ▼
Q1-2025 $30.654M ▲ $67.523M ▼ $20.067M ▼ $47.456M ▲
Q4-2024 $30.585M ▲ $69.436M ▲ $22.166M ▲ $47.27M ▼
Q3-2024 $28.891M $66.804M $18.664M $48.14M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-264K ▼ $-3.283M ▼ $-66K ▼ $149K ▲ $-3.187M ▼ $-3.349M ▼
Q2-2025 $-108K ▼ $1.912M ▲ $-61K ▼ $-3.016M ▼ $-1.159M ▼ $1.905M ▲
Q1-2025 $472K ▲ $1.741M ▲ $-47K ▼ $-1.587M ▼ $69K ▼ $1.694M ▲
Q4-2024 $-1.656M ▼ $-1.508M ▼ $-18K ▲ $3.203M ▲ $1.694M ▼ $-1.529M ▼
Q3-2024 $-185K $2.397M $-45K $-578K $1.772M $2.352M

Revenue by Products

Product Q2-2022Q3-2022Q2-2025Q3-2025
Product
Product
 $0 ▲$0 ▲$10.00M ▲$10.00M ▲
Service
Service
 $0 ▲$0 ▲$0 ▲$10.00M ▲
Technology Solutions Segment
Technology Solutions Segment
 $10.00M ▲$10.00M ▲$0 ▼$0 ▲
Systems Segment
Systems Segment
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement Revenue has been fairly steady over the last few years, with gross profit holding at a similar level as well, which suggests a stable core business. Profitability, however, is thin and somewhat uneven: the company moved from a solid profit in the prior year to a small loss most recently. That pattern points to a business that can be profitable but is still sensitive to swings in costs, mix of projects, or sales momentum. Overall, the income statement shows a stable top line but earnings that can fluctuate meaningfully from year to year.

Balance Sheet

Balance Sheet The balance sheet looks conservative and relatively strong for a smaller technology firm. Cash levels have improved compared with a few years ago, and the company currently carries essentially no financial debt, which reduces financial risk. Shareholders’ equity has been trending upward, reflecting accumulated gains over time and a gradual strengthening of the capital base. The asset base is modest but appears well covered by equity, suggesting a cautious, low-leverage approach to financing growth.

Cash Flow

Cash Flow Reported cash flow figures are very limited, but the pattern suggests the business is operating roughly around cash break-even, without heavy ongoing investment needs. Capital spending appears light, which fits a model that leans more on software, services, and intellectual property than on large physical assets. This likely means the company can adjust spending relatively quickly if conditions change, but it also indicates that excess cash generation has not yet become consistently strong. Given the sparse disclosures, there is some uncertainty about the underlying cash dynamics, so trends over future periods will matter a lot.

Competitive Edge

Competitive Edge CSP Inc. competes in focused niches rather than broad mainstream IT, which is both its main strength and a key risk. In cybersecurity for operational technology and industrial environments, high-performance networking, and core systems for community banks and credit unions, it offers tailored solutions where large competitors may be less specialized. Its shift toward managed services and recurring contracts provides more predictable relationships and deeper customer ties, especially in security and cloud services. At the same time, its small scale, dependence on a limited set of products and markets, and competition from far larger vendors mean that sales execution and partner channels are crucial to defend and expand its position.

Innovation and R&D

Innovation and R&D Innovation is at the center of the company’s strategy, with an emphasis on specialized cybersecurity, modern banking platforms, and high-speed network hardware. The ARIA suite and its AZT PROTECT endpoint product target hard-to-serve industrial and embedded systems, differentiating through a “lock down what’s allowed” approach rather than chasing every new threat. The Aurora Advantage banking platform uses open, modern architecture to integrate easily with partners, while Myricom adapters address demanding use cases like financial trading and network forensics. Partnerships with major distributors and technology firms suggest an effort to scale these innovations beyond the company’s own direct sales reach, but success will depend on continued product differentiation and the ability to convert technical strengths into broader market adoption.

Summary

Overall, CSP Inc. looks like a small, specialized technology company with a stable revenue base, a clean and conservative balance sheet, and profitability that can swing from year to year. Its main opportunity lies in leveraging its niche strengths—especially in industrial cybersecurity, managed services, and community banking technology—to deepen recurring revenue and smooth out earnings. Financially, low leverage and solid cash reserves give it some room to invest and navigate volatility, but its modest scale and reliance on a few key offerings leave it exposed to competitive and execution risks. Future results will likely hinge on how quickly it can grow its newer cybersecurity and managed services lines and translate its innovation pipeline into durable, cash-generating customer relationships.

NEWS

October 30, 2025 · 8:00 AM UTC

ARIA Cybersecurity Adds Features To Expand AZT PROTECT(TM) Into the Embedded IIOT Market

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October 23, 2025 · 8:00 AM UTC

Acronis Partners with ARIA Cybersecurity to Integrate AZT PROTECT(TM) into its Acronis Cyber Protect Solution

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September 11, 2025 · 8:00 AM UTC

ARIA Cybersecurity Secures Midwest Manufacturer's Critical Systems with Managed AZT PROTECT(TM) Service Deployment

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