Revenue performance remains highly inconsistent, with quarterly growth rates fluctuating between a 119.6% surge and a 28.4% contraction, while operating margins have remained persistently negative, reaching a low of -31.9% in 2025Q1.
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 | Dec'11 | Dec'10 | Dec'09 | Dec'08 | Dec'07 | Dec'06 | Dec'05 | Dec'04 | Dec'03 | Dec'02 | Dec'01 | Dec'00 | Dec'99 | Dec'98 | Dec'97 | Dec'96 |
|---|
| Sales/Revenue | 12.3M | 11.89M | 11.68M | 13.94M | 7.49M | 7.48M | 6.89M | 7.3M | 8.9M | 11.15M | 11.89M | 10.51M | 10.28M | 7.55M | 6.41M | 4.99M | 8.03M | 9.7M | 25.6M | 19.32M | 36.24M | 38.24M | 35.41M | 31.04M | 25.04M | 25.27M | 33.87M | 28.11M | 22.1M | 19.2M | 13.5M |
| Revenue Growth % | 9.64% | 1.81% | -16.22% | 86.04% | 0.2% | 8.57% | -5.71% | -17.96% | -20.16% | -6.17% | 13.05% | 2.3% | 36.11% | 17.75% | 28.52% | -37.86% | -17.22% | -62.11% | 32.54% | -46.7% | -5.23% | 8% | 14.06% | 23.95% | -0.88% | -25.41% | 20.51% | 27.18% | 15.1% | 42.22% | 26.17% |
| Cost of Goods Sold | 8.19M | 8.17M | 6.83M | 7.38M | 3.63M | 3.42M | 3.28M | 4M | 4M | 4.3M | 4.88M | 4.87M | 5.2M | 4.36M | 3.24M | 2.9M | 3.53M | 5.26M | 15.39M | 13.56M | 25.97M | 30.18M | 23.55M | 18.36M | 17.13M | 16.45M | 18.77M | 17.01M | 13.5M | 11.1M | 6.4M |
| COGS % of Revenue | - | 68.69% | 58.51% | 52.95% | 48.47% | 45.73% | 47.6% | 54.69% | 44.92% | 38.53% | 41.06% | 46.31% | 50.59% | 57.74% | 50.49% | 58.12% | 43.96% | 54.23% | 60.12% | 70.18% | 71.65% | 78.93% | 66.51% | 59.15% | 68.39% | 65.13% | 55.4% | 60.52% | 61.09% | 57.81% | 47.41% |
| Gross Profit | 4.11M | 3.72M | 4.85M | 6.56M | 3.86M | 4.06M | 3.61M | 3.31M | 4.9M | 6.86M | 7.01M | 5.64M | 5.08M | 3.19M | 3.17M | 2.09M | 4.5M | 4.44M | 10.21M | 5.76M | 10.27M | 8.06M | 11.86M | 12.68M | 7.92M | 8.81M | 15.11M | 11.1M | 8.6M | 8.1M | 7.1M |
| Gross Margin % | 33.41% | 31.31% | 41.49% | 47.05% | 51.53% | 54.27% | 52.4% | 45.31% | 55.08% | 61.47% | 58.94% | 53.69% | 49.41% | 42.26% | 49.51% | 41.88% | 56.04% | 45.77% | 39.88% | 29.82% | 28.35% | 21.07% | 33.49% | 40.85% | 31.61% | 34.87% | 44.6% | 39.48% | 38.91% | 42.19% | 52.59% |
| Gross Profit Growth % | - | -23.17% | -26.12% | 69.88% | -4.85% | 12.44% | 9.03% | -32.5% | -28.47% | -2.14% | 24.11% | 11.17% | 59.14% | 0.5% | 51.91% | -53.56% | 1.35% | -56.51% | 77.29% | -43.94% | 27.48% | -32.05% | -6.47% | 60.18% | -10.16% | -41.67% | 36.13% | 29.02% | 6.17% | 14.08% | 22.41% |
| Operating Expenses | 5.54M | 5.55M | 6.9M | 7M | 4.53M | 4.14M | 3.5M | 3.52M | 4.15M | 4.72M | 4.16M | 3.96M | 3.53M | 3.25M | 3.25M | 3.38M | 5.88M | 7.33M | 14.73M | 14.23M | 22.17M | 16.32M | 14.18M | 11.59M | 10.79M | 11.8M | 11.52M | 8.65M | 7.7M | 7.9M | 6.4M |
| OpEx % of Revenue | - | 46.69% | 59.05% | 50.2% | 60.44% | 55.32% | 50.8% | 48.24% | 46.65% | 42.29% | 34.99% | 37.69% | 34.35% | 43.11% | 50.65% | 67.74% | 73.23% | 75.57% | 57.54% | 73.67% | 61.18% | 42.68% | 40.03% | 37.34% | 43.1% | 46.69% | 34.02% | 30.79% | 34.84% | 41.15% | 47.41% |
| Selling, General & Admin | 5.07M | 4.96M | 4.84M | 4.67M | 0 | 3.24M | 2.87M | 2.61M | 3.25M | 3.89M | 3.54M | 3.12M | 2.72M | 2.6M | 2.28M | 2.07M | 4.42M | 5.54M | 10.63M | 11.26M | 16.62M | 11.73M | 10.02M | 8.17M | 7.46M | 8.28M | 7.61M | 5.8M | 5.8M | 7.2M | 4.6M |
| SG&A % of Revenue | - | 41.67% | 41.48% | 33.52% | - | 43.38% | 41.72% | 35.7% | 36.46% | 34.86% | 29.75% | 29.69% | 26.45% | 34.37% | 35.55% | 41.48% | 55.04% | 57.11% | 41.52% | 58.29% | 45.87% | 30.68% | 28.29% | 26.33% | 29.77% | 32.76% | 22.47% | 20.63% | 26.24% | 37.5% | 34.07% |
| Research & Development | 465K | 597K | 2.05M | 2.33M | 1.22M | 893K | 625K | 916K | 908K | 829K | 623K | 841K | 811K | 660K | 968K | 1.31M | 1.47M | 1.79M | 4.1M | 2.97M | 5.55M | 4.59M | 4.16M | 3.42M | 3.34M | 3.52M | 3.22M | 2.23M | 1.4M | 0 | 1.2M |
| R&D % of Revenue | - | 5.02% | 17.57% | 16.69% | 16.28% | 11.94% | 9.07% | 12.54% | 10.2% | 7.43% | 5.24% | 8% | 7.89% | 8.74% | 15.09% | 26.25% | 18.31% | 18.45% | 16.02% | 15.38% | 15.31% | 11.99% | 11.74% | 11.01% | 13.33% | 13.92% | 9.51% | 7.92% | 6.33% | - | 8.89% |
| Other Operating Expenses | 0 | 0 | 0 | 0 | 3.31M | 0 | 0 | 0 | 0 | -5K | 40K | 3K | -16K | 0 | 0 | 0 | -10K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 688K | 630K | 500K | 700K | 600K |
| Operating Income | -1.43M | -1.83M | -2.05M | -439K | -668K | -79K | 110K | -214K | 750K | 2.14M | 2.85M | 1.68M | 1.55M | -64K | -73K | -1.29M | -1.38M | -2.89M | -4.53M | -8.47M | -11.9M | -8.26M | -2.32M | 1.09M | -2.88M | -2.98M | 3.58M | 2.44M | 900K | 200K | 700K |
| Operating Margin % | -11.63% | -15.38% | -17.55% | -3.15% | -8.91% | -1.06% | 1.6% | -2.93% | 8.42% | 19.18% | 23.95% | 16% | 15.06% | -0.85% | -1.14% | -25.85% | -17.19% | -29.79% | -17.7% | -43.85% | -32.83% | -21.6% | -6.54% | 3.51% | -11.49% | -11.81% | 10.58% | 8.69% | 4.07% | 1.04% | 5.19% |
| Operating Income Growth % | - | 10.78% | -366.97% | 34.28% | -745.57% | -171.82% | 151.4% | -128.53% | -64.94% | -24.87% | 69.26% | 8.66% | 2518.75% | 12.33% | 94.34% | 6.52% | 52.25% | 36.2% | 46.52% | 28.81% | -44.01% | -256.69% | -312.48% | 137.89% | 3.62% | -183.31% | 46.72% | 171.33% | 350% | -71.43% | 800% |
| EBITDA | -522K | -922K | -1.16M | 424K | -420K | 187K | 616K | 52K | 949K | 2.28M | 2.91M | 1.74M | 1.63M | 60K | 70K | -1.11M | -1.08M | -2.32M | -3.97M | -7.84M | -11.34M | -7.27M | -1.71M | 1.68M | -2.07M | -2.21M | 4.27M | 3.07M | 1.4M | 900K | 1.3M |
| EBITDA Margin % | -4.24% | -7.75% | -9.92% | 3.04% | -5.61% | 2.5% | 8.94% | 0.71% | 10.66% | 20.48% | 24.5% | 16.53% | 15.84% | 0.79% | 1.09% | -22.24% | -13.45% | -23.92% | -15.51% | -40.61% | -31.3% | -19.02% | -4.82% | 5.42% | -8.27% | -8.76% | 12.61% | 10.93% | 6.33% | 4.69% | 9.63% |
| EBITDA Growth % | 58.77% | 20.38% | -373.11% | 200.95% | -324.6% | -69.64% | 1084.62% | -94.52% | -58.45% | -21.57% | 67.55% | 6.76% | 2613.33% | -14.29% | 106.31% | -2.78% | 53.45% | 41.56% | 49.38% | 30.85% | -55.97% | -326.01% | -201.43% | 181.23% | 6.33% | -151.79% | 39.03% | 119.43% | 55.56% | -30.77% | 333.33% |
| D&A (Non-Cash Add-back) | 908K | 907K | 892K | 863K | 248K | 266K | 506K | 266K | 199K | 145K | 65K | 56K | 80K | 124K | 143K | 180K | 300K | 570K | 560K | 627K | 555K | 989K | 609K | 593K | 805K | 773K | 688K | 630K | 500K | 700K | 600K |
| EBIT | -1.43M | -1.83M | -2.05M | -439K | -668K | -79K | 18K | -214K | 750K | 2.13M | 2.85M | 1.69M | 1.53M | -64K | -73K | -1.64M | -1.19M | -4.14M | -3.27M | -9.24M | -11.02M | -8.26M | -2.32M | 1.09M | -2.88M | -2.98M | 3.58M | 2.44M | 900K | 200K | 700K |
| Net Interest Income | 16K | 20K | 54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 2K | 4K | 7K | 0 | 0 | 0 | 0 | -342K | -281K | 162K | 15K | -44K | -132K | 174K | 94K | 0 | -100K | 0 | -100K |
| Interest Income | 16K | 20K | 54K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1K | 2K | 4K | 7K | 0 | 0 | 0 | 0 | 0 | 0 | 185K | 15K | 0 | 0 | 174K | 94K | 0 | 0 | 0 | 0 |
| Interest Expense | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 342K | 281K | 162K | 0 | 44K | 132K | 0 | 0 | 0 | 100K | 0 | 100K |
| Other Income/Expense | 78K | 23K | 93K | 164K | 2.61M | -50K | -92K | 39K | 60K | -5K | 40K | 4K | -14K | 43K | 177K | -350K | 190K | -1.29M | 1.22M | -1.12M | 267K | 67K | 32K | 4K | -86K | 207K | -749K | -82K | -400K | -200K | 0 |
| Pretax Income | -1.35M | -1.81M | -1.96M | -275K | 1.94M | -129K | 18K | -175K | 810K | 2.13M | 2.89M | 1.69M | 1.53M | -21K | 104K | -1.64M | -1.19M | -4.18M | -3.31M | -9.59M | -11.63M | -8.19M | -2.28M | 1.09M | -2.96M | -2.78M | 2.83M | 2.36M | 500K | 0 | 0 |
| Pretax Margin % | -10.99% | -15.19% | -16.76% | -1.97% | 25.93% | -1.73% | 0.26% | -2.4% | 9.1% | 19.13% | 24.29% | 16.04% | 14.93% | -0.28% | 1.62% | -32.87% | -14.82% | -43.09% | -12.93% | -49.63% | -32.09% | -21.43% | -6.45% | 3.52% | -11.83% | -11% | 8.37% | 8.4% | 2.26% | - | - |
| Income Tax | -204K | -191K | 27K | 108K | 271K | 605K | -95K | 282K | 188K | 874K | -6K | -11K | 13K | 1K | 2K | -350K | 190K | -1.29M | 1.22M | 39K | 126K | 111K | 0 | 28K | 1.3M | -764K | -274K | 252K | 500K | 0 | 200K |
| Effective Tax Rate % | 15.09% | 10.58% | -1.38% | -39.27% | 13.95% | -468.99% | -527.78% | -161.14% | 23.21% | 40.96% | -0.21% | -0.65% | 0.85% | -4.76% | 1.92% | 21.34% | -15.97% | 30.86% | -36.86% | -0.41% | -1.08% | -1.35% | 0% | 2.56% | -43.91% | 27.5% | -9.67% | 10.68% | 100% | - | - |
| Net Income | -1.15M | -1.61M | -1.98M | -383K | 1.67M | -734K | 113K | -457K | 622K | 1.26M | 2.89M | 1.73M | 1.55M | 12K | 136K | -1.61M | -1.06M | -7.81M | -3.31M | -5.67M | -11.76M | -8.3M | -2.28M | 1.07M | -4.26M | -2.01M | 3.11M | 2.11M | 400K | 0 | 500K |
| Net Margin % | -9.33% | -13.58% | -16.99% | -2.75% | 22.31% | -9.82% | 1.64% | -6.26% | 6.99% | 11.3% | 24.34% | 16.46% | 15.13% | 0.16% | 2.12% | -32.26% | -13.2% | -80.52% | -12.93% | -29.35% | -32.44% | -21.72% | -6.45% | 3.43% | -17.03% | -7.97% | 9.18% | 7.5% | 1.81% | - | 3.7% |
| Net Income Growth % | 43.95% | 18.6% | -418.02% | -122.91% | 327.79% | -749.56% | 124.73% | -173.47% | -50.63% | -56.45% | 67.13% | 11.32% | 12858.33% | -91.18% | 108.45% | -51.89% | 86.43% | -135.95% | 41.61% | 51.78% | -41.55% | -263.62% | -314.26% | 125% | -111.72% | -164.8% | 47.44% | 427% | - | -100% | 150% |
| Net Income (Continuing) | -1.15M | -1.61M | -1.98M | -383K | 1.67M | -734K | 113K | -457K | 622K | 1.26M | 2.89M | 1.7M | 1.52M | -22K | 102K | -1.64M | -1.19M | -4.19M | -4.23M | -9.63M | -11.42M | -8.3M | -2.28M | 1.07M | -4.26M | -2.01M | 3.11M | 2.11M | 400K | 0 | 500K |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 34K | 34K | 34K | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 68K | 56K | 31K | 0 | 0 | 0 |
| EPS (Diluted) | -0.07 | -0.13 | -0.24 | -0.08 | 0.13 | -0.11 | 0.02 | -0.05 | 0.09 | 0.17 | 0.39 | 0.23 | 0.22 | 0.00 | 0.02 | -0.22 | -0.15 | -1.13 | -0.48 | -0.82 | -1.71 | -1.21 | -0.38 | 0.18 | -0.87 | -0.42 | 0.56 | 0.42 | 0.10 | 0.02 | 0.14 |
| EPS Growth % | 60.6% | 45.83% | -203.03% | -160.92% | 218.18% | -743.27% | 136.7% | -149.21% | -44.29% | -56.41% | 69.57% | 4.55% | - | -90% | 109.09% | -46.67% | 86.73% | -135.42% | 41.46% | 52.05% | -41.32% | -218.42% | -311.11% | 120.69% | -107.14% | -175% | 33.33% | 320% | 400% | -85.71% | 250% |
| EPS (Basic) | - | -0.13 | -0.24 | -0.08 | 0.13 | -0.11 | 0.01 | -0.05 | 0.06 | 0.17 | 0.39 | 0.23 | 0.22 | 0.00 | 0.02 | -0.22 | -0.15 | -1.13 | -0.48 | -0.82 | -1.71 | -1.21 | -0.38 | 0.20 | -0.87 | -0.42 | 0.70 | 0.52 | 0.10 | 0.02 | 0.16 |
| Diluted Shares Outstanding | 15.75M | 14.92M | 9.86M | 9.89M | 9.9M | 6.6M | 6.6M | 6.57M | 6.57M | 7.42M | 7.41M | 7.38M | 7.32M | 5.86M | 5.85M | 7.21M | 6.95M | 6.89M | 6.88M | 6.87M | 6.88M | 6.86M | 5.99M | 5.68M | 4.88M | 4.82M | 5.57M | 5.01M | 3.91M | 3.33M | 3.57M |
| Basic Shares Outstanding | 15.75M | 14.92M | 9.86M | 9.89M | 9.9M | 6.5M | 6.6M | 9.81M | 10.35M | 7.33M | 7.33M | 7.33M | 7.32M | 5.86M | 5.85M | 7.21M | 6.95M | 6.89M | 6.88M | 6.87M | 6.88M | 6.86M | 5.99M | 5.17M | 4.88M | 4.82M | 4.45M | 4.01M | 3.91M | 3.33M | 3.13M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent negative operating margins
According to the provided quarterly data, Interlink Electronics exhibits highly volatile top-line performance, with revenue fluctuations ranging from a 119.6% surge in 2023Q4 to a 28.4% contraction in 2024Q2, suggesting that the company's reliance on project-based OEM design wins creates significant, unpredictable revenue lumpiness.
The lack of a consistent growth trajectory implies that the company has yet to secure a stable, recurring revenue stream from its sensor technology. Investors should monitor whether future design wins can transition from prototype phases to high-volume production to smooth out these quarterly revenue swings.
As reported in financial statements, Interlink's gross margin has fluctuated between 23.8% and 41.4% over the last ten quarters, indicating that the company lacks the pricing power typically associated with high-value, proprietary technology providers in the competitive HMI sensor market.
These margin variations suggest that the company's cost of goods sold is highly sensitive to production volume and potential inefficiencies in its manufacturing process. The inability to maintain a stable, higher-tier gross margin may reflect the commoditized nature of its current sensor offerings.
Based on the income statement data, Interlink has failed to demonstrate positive operating leverage, as evidenced by the persistent negative operating margins that reached as low as -31.9% in 2025Q1, despite the company's ongoing efforts to manage its overhead and R&D expenditures.
The company's inability to scale operating income faster than gross profit suggests that its fixed cost base is disproportionately high relative to its current revenue generation. This structural imbalance implies that significant top-line growth is required before the company can achieve sustainable operating profitability.
Analysis of the reported figures reveals that SG&A expenses consistently consume a substantial portion of revenue, often exceeding $1.1M per quarter, which effectively offsets the gross profit generated and keeps the company in a state of recurring net losses.
The company's cost structure appears to be misaligned with its current scale, as the high fixed overhead costs prevent the business from reaching a break-even point. Management's expense discipline warrants further investigation, as the current spending levels do not appear to be driving the necessary commercial traction.
While the company maintains a low debt-to-equity ratio, the combination of a $2.72M cash balance and consistent quarterly net losses suggests that Interlink may face a liquidity crunch if it cannot rapidly improve its operational efficiency or secure new, high-margin contracts.
Short-term observers might focus on the risk that the company's cash runway is insufficient to support its current R&D and SG&A burn rate. The lack of a clear path to profitability suggests that the company may eventually require external financing, which could lead to shareholder dilution.
Quick answers to the most common questions about buying LINK stock.
For fiscal year 2025, Interlink Electronics, Inc. (LINK) reported total revenue of $11.9M. This represents a 11.9% decline compared to $13.5M in 1996.
Interlink Electronics, Inc. (LINK) reported a net loss of $1.6M for the fiscal year ending 2025.
Interlink Electronics, Inc. (LINK) reported an operating income of $-1.8M, resulting in an operating profit margin of -15.4%. This margin reflects the operational efficiency of the business before interest and taxes.
Interlink Electronics, Inc. (LINK) generated $3.7M in gross profit for the year, representing a gross profit margin of 31.3%. This demonstrates the company's core pricing power and production efficiency.