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Reportable Segments | 12 Months Ended
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Dec. 31, 2024
Segment Reporting [Abstract] |
Reportable Segments | Note 13 - Reportable Segments The Company has determined that it has three reportable segments, organized primarily based on product offerings, as follows:
| ● | 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. One other business, Tantaline, did not meet the quantitative threshold for separate reporting and has been reflected as “Other” below. 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. CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 13 - Reportable Segments (continued) The following provides segment information as described below (in thousands): Schedule of Segments
|  | 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 |  |  | 16,158 |  |  |  | 4,749 |  |  |  | 272 |  |  |  | 21,179 |
Research & development |  |  | 2,398 |  |  |  | 229 |  |  |  | - |  |  |  | 2,627 |
Selling |  |  | 1,456 |  |  |  | 195 |  |  |  | 5 |  |  |  | 1,656 |
General & administrative |  |  | 1,064 |  |  |  | 709 |  |  |  | 84 |  |  |  | 1,857 |
Gain on sales of equipment |  |  | (42 | ) |  |  | - |  |  |  | (675 | ) |  |  | (717 | )
Impairment charge |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Other income |  |  | (2 | ) |  |  | - |  |  |  | - |  |  |  | (2 | )
Interest expense |  |  | 19 |  |  |  | - |  |  |  | - |  |  |  | 19 |
Segment net income (loss) |  | $ | (2,763 | ) |  | $ | 2,562 |  |  | $ | 1,092 |  |  | $ | 891 |
Segment assets |  | $ | 15,903 |  |  | $ | 3,129 |  |  | $ | 627 |  |  | $ | 19,659 |
Capital expenditures |  | $ | 69 |  |  | $ | 37 |  |  | $ | - |  |  | $ | 106 |
Depreciation & amortization |  | $ | 635 |  |  | $ | 49 |  |  | $ | - |  |  | $ | 684 |
|  | CVD |  |  | SDC |  |  | MesoScribe |  |  | Total |
|  | For the year ended December 31, 2023 |
|  | CVD |  |  | SDC |  |  | MesoScribe |  |  | Total |
Segment revenue |  | $ | 16,334 |  |  | $ | 7,139 |  |  | $ | 722 |  |  | $ | 24,195 |
Less: |  |  |  |  |  |  |  |  |  |  |  |  |  |  |  |
Cost of revenue |  |  | 14,408 |  |  |  | 4,313 |  |  |  | 507 |  |  |  | 19,228 |
Research & development |  |  | 2,288 |  |  |  | 299 |  |  |  | 5 |  |  |  | 2,592 |
Selling |  |  | 1,414 |  |  |  | 172 |  |  |  | - |  |  |  | 1,586 |
General & administrative |  |  | 1,085 |  |  |  | 679 |  |  |  | 70 |  |  |  | 1,834 |
Impairment charge |  |  | - |  |  |  | - |  |  |  | 111 |  |  |  | 111 |
Other income |  |  | (86 | ) |  |  | - |  |  |  | - |  |  |  | (86 | )
Interest expense |  |  | 23 |  |  |  | - |  |  |  | - |  |  |  | 23 |
Segment net income (loss) |  | $ | (2,798 | ) |  | $ | 1,676 |  |  | $ | 29 |  |  | $ | (1,093 | )
Segment assets |  | $ | 19,112 |  |  | $ | 3,468 |  |  | $ | 211 |  |  | $ | 22,791 |
Capital expenditures |  | $ | 404 |  |  | $ | 14 |  |  | $ | - |  |  | $ | 418 |
Depreciation & amortization |  | $ | 620 |  |  | $ | 49 |  |  | $ | 59 |  |  | $ | 728 |
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 13 - Reportable Segments (continued) The following table presents a reconciliation of revenue of reportable segments to consolidated revenue (in thousands): Schedule of Reconciliation of Revenue of Reportable Segments to Consolidated Revenue
|  | 2024 |  |  | 2023 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Revenue of reportable segments |  | $ | 27,510 |  |  | $ | 24,195 |
Other - Tantaline |  |  | - |  |  |  | 462 |
Intersegment revenue |  |  | (634 | ) |  |  | (548 | )
Consolidated total revenue |  | $ | 26,876 |  |  | $ | 24,109 |
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 thousand): Schedule of Reconciliation of Net Income (Loss) of Reportable Segments to Consolidated Net Loss
|  | 2024 |  |  | 2023 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Net income (loss) of reportable segments |  | $ | 891 |  |  | $ | (1,093 | )
Unallocated amounts: |  |  |  |  |  |  |  |
Corporate expenses |  |  | (3,324 | ) |  |  | (3,503 | )
Other - Tantaline |  |  | - |  |  |  | (175 | )
Unallocated amounts |  |  | - |  |  |  | (175 | )
Interest income |  |  | 559 |  |  |  | 577 |
Income tax (expense) benefit |  |  | (24 | ) |  |  | 14 |
Consolidated net loss |  | $ | (1,898 | ) |  | $ | (4,180 | )
The following table presents a reconciliation of total assets of reportable segments to consolidated total assets (in thousands): Schedule of Reconciliation of Total Assets of Reportable Segments to Consolidated Total Assets
|  | 2024 |  |  | 2023 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
Total assets of reportable segments |  | $ | 19,659 |  |  | $ | 22,791 |
Unallocated amounts: |  |  |  |  |  |  |  |
Cash equivalents |  |  | 11,892 |  |  |  | 12,099 |
Other current assets |  |  | 135 |  |  |  | 135 |
Consolidated total assets |  | $ | 31,686 |  |  | $ | 35,025 |
CVD EQUIPMENT CORPORATION AND SUBSIDIARIES NOTES TO CONSOLIDATED FINANCIAL STATEMENTS December 31, 2024 and 2023 Note 13 - Reportable Segments (continued) The following table presents a revenue by geographic area (in thousands): Schedule of Revenue by Geographic Area
|  | 2024 |  |  | 2023 |
|  | Year ended December 31, |
|  | 2024 |  |  | 2023 |
United States |  | $ | 25,720 |  |  | $ | 19,975 |
North America, excluding US |  |  | 65 |  |  |  | 56 |
Europe, Middle East and Africa |  |  | 521 |  |  |  | 1,508 |
Asia-Pacific |  |  | 570 |  |  |  | 2,570 |
Consolidated total revenue |  | $ | 26,876 |  |  | $ | 24,109 |
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.

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- Definition The entire disclosure for reporting segments including data and tables. 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