CSP INC /MA/ CSPI

Technology SIC 7373 - Services-Computer Integrated Systems Design NAICS Professional, Scientific, and Technical Services › Computer Systems Design and Related Services › Computer Systems Design Services derived Nasdaq

CSP Inc. ("CSPi" or "CSPI" or "the Company" or "we" or "our") was incorporated in 1968 and is based in Lowell, Massachusetts. To meet the diverse requirements of our commercial and defense customers worldwide, CSPi and its subsidiaries develop and market IT integration solutions, advanced security products, managed IT services, cloud services, purpose built network adapters, and high-performance cluster computer systems.

CSPI operates in two segments: Technology Solutions ("TS") and High Performance Products ("HPP").

● The TS segment consists of our wholly-owned Modcomp, Inc. subsidiary, which operates in the United States and the United Kingdom.

The TS segment generates product revenues by reselling third-party computer hardware and software as a value added reseller ("VAR"). The TS segment generates service revenues by the delivery of professional services for complex IT solutions, including advanced security; unified communications and collaboration; wireless and mobility; data center solutions; and network solutions as well as managed IT services ("MSP") that primarily serve the small and mid-sized business market ("SMB").

Last close 7.32 2026-10-23
Market cap $73.8M 2026-06-30 share count
52-week range 7.11 - 15.00

Valuation FY2025 figures against the last close

P/S1.3x
P/E—
P/FCF38.4x
EV/EBITDA—
Dividend yield1.6%
Diluted EPS-0.01

Where the revenue comes from as reported in the latest 10-K

Revenue by geography

  • United States
  • Americas (excluding United States)
  • Europe
  • Other
Revenue by geography, 4 categories over 1 years. The same figures are in the table below. FY2025 United States, FY2025: 52.6M (89.5%) 90% United States Americas (excluding United States), FY2025: 4.5M (7.7%) 8% Europe, FY2025: 1.4M (2.3%) Other, FY2025: 257K (0.4%)
Region FY2025
United States $52.6M
Americas (excluding United States) $4.5M
Europe $1.4M
Other $257.0K

As the company reported it, from the “Segment Information - Timing of Revenue Recognition and Geographic Areas (Details)” note of its latest 10-K. Every figure here has been checked against the total revenue the same filing reported. Regions are the filer's own and are not mapped onto a standard list — one company's “Americas” and another's “United States” are different areas, and making them look comparable would mean making at least one of them wrong. Slices under 1% are folded into “Other”.

Annual financial statements

Income statement

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Revenue $58.7M$55.2M$64.6M$54.4M$49.2M$61.8M$79.1M$72.9M$88.5M$103.4M
Cost of revenue $40.2M$36.4M$42.7M$35.5M$33.1M$44.6M$61.0M$54.5M$67.1M$78.3M
Gross profit $18.5M$18.9M$21.9M$18.8M$16.1M$17.2M$18.0M$18.4M$21.4M$25.0M
R&D $3.2M$3.0M$3.1M$3.1M$2.9M$2.8M$2.8M$3.3M$2.4M$3.0M
SG&A $18.4M$17.8M$16.9M$15.8M$14.6M$15.8M$16.1M$16.7M$15.7M$18.3M
Total operating expenses $21.6M$20.7M$20.1M$18.9M$17.5M$18.6M$18.9M$20.0M$18.0M$21.2M
Operating income -$3.1M-$1.9M$1.9M-$40.0K-$1.4M-$1.4M-$826.0K-$1.6M$3.4M$3.8M
Interest expense $357.0K$235.0K————————
Pre-tax income -$1.7M-$419.0K$4.7M$1.9M$678.0K-$1.1M-$442.0K-$1.1M$3.4M$3.6M
Income tax $1.6M$93.0K$469.0K$50.0K$444.0K$384.0K$71.0K$882.0K$1.2M$996.0K
Net income -$91.0K-$326.0K$5.2M$1.9M$699.0K-$1.4M-$371.0K$14.4M$2.5M$2.6M
EPS, basic -0.01-0.040.560.420.16-0.36-0.093.620.640.69
EPS, diluted -0.01-0.040.550.420.16-0.36-0.093.550.630.67
Shares, diluted (wtd. avg.) 9.3M9.0M8.9M4.3M4.2M4.0M3.9M3.9M3.8M3.7M

Balance sheet

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Cash and equivalents $27.4M$30.6M$25.2M$24.0M$20.0M$19.3M$18.1M$25.1M$10.4M$13.1M
Receivables $12.0M$14.5M$67.0K————$12.0M$17.7M$19.0M
Inventory $1.4M$2.3M$2.5M$4.4M$4.0M$5.3M$7.8M$7.6M$5.6M$5.6M
Total current assets $52.3M$54.8M$50.4M$59.5M$49.0M$41.6M$46.5M$48.4M$50.3M$41.8M
Property, plant and equipment $539.0K$429.0K$525.0K$647.0K$764.0K$1.0M$1.3M$847.0K$919.0K$1.7M
Other intangibles $69.0K$50.0K$46.0K$10.0K$19.0K$28.0K$37.0K$48.0K$167.0K$287.0K
Total assets $71.2M$69.4M$65.9M$75.1M$63.0M$53.6M$59.4M$55.3M$58.9M$48.7M
Accounts payable $13.5M$7.0M$5.1M$19.2M$11.3M$5.6M$13.5M$4.5M$8.1M$4.4M
Short-term debt ———————$3.2M$3.1M$3.2M
Total current liabilities $22.2M$18.7M$15.7M$30.2M$17.8M$13.0M$20.0M$14.1M$26.0M$17.4M
Total liabilities $26.6M$22.2M$19.8M$36.1M$28.9M$24.1M$28.9M$21.5M$37.9M$31.1M
Retained earnings $27.7M$29.8M$31.3M$26.8M$25.2M$24.5M$27.2M$29.9M$17.4M$16.6M
Total equity $44.6M$47.3M$46.1M$39.0M$34.0M$29.5M$30.4M$33.8M$21.0M$17.7M

Cash flow

Fiscal year FY2025FY2024FY2023FY2022FY2021FY2020FY2019FY2018FY2017FY2016
Operating cash flow $2.3M$4.2M$3.9M$2.7M$1.9M$244.0K-$3.3M$2.9M$2.7M$5.0M
Depreciation and amortisation $237.0K$292.0K$343.0K$350.0K$379.0K$443.0K$405.0K$506.0K$365.0K$570.0K
Stock-based compensation $1.8M$1.6M$1.1M$979.0K$981.0K$982.0K$792.0K$691.0K$577.0K$414.0K
Capital expenditure $348.0K$196.0K$226.0K$234.0K$98.0K$230.0K$832.0K$438.0K$207.0K$735.0K
Investing cash flow -$428.0K-$256.0K-$341.0K$20.0K-$166.0K-$345.0K-$976.0K$13.6M-$508.0K-$896.0K
Financing cash flow -$5.0M$1.4M-$2.4M$1.3M-$954.0K$832.0K-$2.2M-$1.6M-$1.5M-$1.4M
Dividends paid $1.2M$1.0M$656.0K$137.0K$0$1.3M$2.5M$1.9M$1.7M$1.7M
Buybacks $869.0K$104.0K$6.0K$174.0K$0$46.0K————

Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0000356037-25-000065.

Plot the figures US dollars

Income statement Revenue Cost of revenue Gross profit R&D SG&A Total operating expenses Operating income Interest expense Pre-tax income Income tax Net income EPS, basic EPS, diluted Shares, diluted (wtd. avg.)
Balance sheet Cash and equivalents Short-term investments Receivables Inventory Total current assets Property, plant and equipment Goodwill Other intangibles Total assets Accounts payable Short-term debt Total current liabilities Long-term debt Total liabilities Retained earnings Total equity
Cash flow Operating cash flow Depreciation and amortisation Stock-based compensation Capital expenditure Investing cash flow Financing cash flow Dividends paid Buybacks
  • Revenue
  • Gross profit
  • Net income
Revenue, Gross profit, Net income by fiscal year, in US dollars The same figures are in the table below this chart. -50M 0 50M 100M 150M Revenue, FY2016: 103.4M Gross profit, FY2016: 25M Net income, FY2016: 2.6M Revenue, FY2017: 88.5M Gross profit, FY2017: 21.4M Net income, FY2017: 2.5M Revenue, FY2018: 72.9M Gross profit, FY2018: 18.4M Net income, FY2018: 14.4M Revenue, FY2019: 79.1M Gross profit, FY2019: 18M Net income, FY2019: -371K Revenue, FY2020: 61.8M Gross profit, FY2020: 17.2M Net income, FY2020: -1.4M Revenue, FY2021: 49.2M Gross profit, FY2021: 16.1M Net income, FY2021: 699K Revenue, FY2022: 54.4M Gross profit, FY2022: 18.8M Net income, FY2022: 1.9M Revenue, FY2023: 64.6M Gross profit, FY2023: 21.9M Net income, FY2023: 5.2M Revenue, FY2024: 55.2M Gross profit, FY2024: 18.9M Net income, FY2024: -326K Revenue, FY2025: 58.7M Gross profit, FY2025: 18.5M Net income, FY2025: -91K FY2016 FY2017 FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2024 FY2025
Fiscal year FY2016FY2017FY2018FY2019FY2020FY2021FY2022FY2023FY2024FY2025
Revenue $103.4M $88.5M $72.9M $79.1M $61.8M $49.2M $54.4M $64.6M $55.2M $58.7M
Gross profit $25.0M $21.4M $18.4M $18.0M $17.2M $16.1M $18.8M $21.9M $18.9M $18.5M
Net income $2.6M $2.5M $14.4M -$371.0K -$1.4M $699.0K $1.9M $5.2M -$326.0K -$91.0K

Recent filings and events

  • Results announced The quarterly or annual earnings release. Arrives four times a year from almost every company here. Item 2.02
  • Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
  • Results announced Item 2.02
  • Officer or director change Item 5.02
  • Shareholder vote The results of the annual meeting or a special vote. Item 5.07
  • Results announced Item 2.02
  • Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Results announced Item 2.02
  • Auditor changed The company changed auditors. Sometimes routine; historically one of the more reliable warnings that something is wrong. Item 4.01
  • Auditor changed Item 4.01

Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.

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