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CSP Inc. develops and markets IT integration solutions, security products, managed IT services, cloud services, network adapters, and cluster computer systems for commercial and defense customers worldwide. The Technology Solutions segment provides third-party hardware, software, and information technology products, such as data center infrastructure solutions, midrange data storage infrastructure products, networking and mobility products, unified communications, and advanced IT security hardware and software solutions. This segment also offers hyper-converged infrastructure, a software-centric architecture that tightly integrates compute, storage, and virtualization resources in a single system; virtualization; IT consulting services, such as assessments, planning, designing, assessment, implementation, migration, optimization, and project management; enterprise security intrusion prevention, network access control, and unified threat management services; and IT security compliance services. In addition, it provides unified communications; wireless, and routing and switching solutions; custom software applications and solutions development and support services; optimization, maintenance, and technical support services; managed IT services, such as monitoring, reporting, and management of alerts for the resolution and preventive general IT, and IT security support tasks; and proactive monitoring and remote management of IT infrastructure, managed and hosted unified communication as a service, managed security, managed backup and replication, and cloud services. The High Performance Products segment offers ARIA Software-Defined Security, a cybersecurity solution; ARIA Zero Trust PROTECT that stopping the attacks that are used to attack critical infrastructure applications; Myricom SmartNIC adapters; and multicomputer products for digital signal processing applications in the defense markets. CSP Inc. was incorporated in 1968 and is based in Lowell, Massachusetts.
5-year financial trends. Figures in USD millions.
Latest fiscal year: 2025
Year-by-year revenue, profitability, and cash flow (USD millions, last 10 years)
| Year | Revenue | EBITDA | Net Profit | FCF | ROE | Rev Growth 1Y | NP Growth 1Y |
|---|---|---|---|---|---|---|---|
| 2025 | $59M | $-1M | $-0M | $2M | -0.2% | 6.4% | -72.1% |
| 2024 | $55M | $1M | $-0M | $4M | -0.7% | -14.6% | -106.3% |
| 2023 | $65M | $6M | $5M | $4M | 11.3% | 18.9% | 175.5% |
| 2022 | $54M | $3M | $2M | $2M | 4.8% | - | - |
| 2021 | - | - | - | - |
Income statement, balance sheet, and cash flow as reported
Consolidated Figures in USD Millions.
| Metric | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|
| Total Revenue | - | 54.36 | 64.65 | 55.22 | 58.73 |
| Operating Revenue | - | 54.36 | 64.65 | 55.22 | 58.73 |
| Cost Of Revenue | - | 35.53 | 42.73 | 36.36 | 40.22 |
| Gross Profit | - | 18.83 | 21.92 | 18.86 | 18.51 |
| Operating Expense | - | 18.87 | 20.05 | 20.73 | 21.62 |
| Research And Development | - | 3.08 | 3.14 | 2.96 | 3.25 |
| Selling General And Administration | - | 15.78 | 16.91 | 17.77 | 18.37 |
| Total Expenses | - | 54.40 | 62.78 | 57.09 | 61.84 |
| Operating Income | - | -0.04 | 1.87 | -1.87 | -3.11 |
| Total Operating Income As Reported | - | -0.04 | 1.87 | -1.87 | -3.11 |
| EBITDA | - | 3.23 | 5.93 | 0.61 | -0.60 |
| Normalized EBITDA | - | 1.54 | 4.37 | 1.05 | -0.64 |
| EBIT | - | 2.30 | 5 | -0.18 | -1.30 |
| Interest Income | - | 0.65 | 1.46 | 2.05 | 1.85 |
| Interest Expense | - | 0.36 | 0.26 | 0.24 | 0.36 |
| Net Interest Income | - | 0.29 | 1.20 | 1.81 | 1.50 |
| Other Non Operating Income Expenses | - | 0 | 0.11 | 0.08 | -0.08 |
| Other Income Expense | - | 1.69 | 1.67 | -0.36 | -0.05 |
| Interest Income Non Operating | - | 0.65 | 1.46 | 2.05 | 1.85 |
| Interest Expense Non Operating | - | 0.36 | 0.26 | 0.24 | 0.36 |
| Net Non Operating Interest Income Expense | - | 0.29 | 1.20 | 1.81 | 1.50 |
| Pretax Income | - | 1.94 | 4.74 | -0.42 | -1.66 |
| Tax Provision | - | 0.05 | -0.47 | -0.09 | -1.57 |
| Tax Rate For Calcs | - | 0 | 0 | 0 | 0 |
| Tax Effect Of Unusual Items | - | 0.04 | 0.33 | -0.10 | 0.01 |
| Net Income Continuous Operations | - | 1.89 | 5.20 | -0.33 | -0.09 |
| Net Income From Continuing And Discontinued Operation | - | 1.89 | 5.20 | -0.33 | -0.09 |
| Net Income From Continuing Operation Net Minority Interest | - | 1.89 | 5.20 | -0.33 | -0.09 |
| Net Income | - | 1.89 | 5.20 | -0.33 | -0.09 |
| Net Income Common Stockholders | - | 1.79 | 4.88 | -0.33 | -0.09 |
| Net Income Including Noncontrolling Interests | - | 1.89 | 5.20 | -0.33 | -0.09 |
| Normalized Income | - | 0.24 | 3.98 | 0.01 | -0.12 |
| Diluted NI Availto Com Stockholders | - | 1.79 | 4.88 | -0.33 | -0.09 |
| Basic Average Shares | - | 8.52 | 8.76 | 9.04 | 9.30 |
| Diluted Average Shares | - | 8.56 | 8.94 | 9.04 | 9.30 |
| Reconciled Depreciation | - | 0.94 | 0.93 | 0.79 | 0.70 |
| Reconciled Cost Of Revenue | - | 35.53 | 42.73 | 36.36 | 40.22 |
| Total Unusual Items | - | 1.69 | 1.56 | -0.44 | 0.03 |
| Total Unusual Items Excluding Goodwill | - | 1.69 | 1.56 | -0.44 | 0.03 |
| Net Income Discontinuous Operations | 0.46 | 0 | - | - | - |
| Special Income Charges | 2.20 | 0 | 2.14 | 0 | - |
| Other Special Charges | -2.20 | - | -2.14 | - | - |
| Gain On Sale Of Security | - | 1.69 | -0.58 | -0.44 | 0.03 |
| Otherunder Preferred Stock Dividend | - | 0.10 | 0.32 | 0 | 0 |
Technology sector peers, ranked by market cap
| Company | Ticker | Market Cap | P/E | P/B | ROE | EV/EBITDA |
|---|---|---|---|---|---|---|
| CSP Inc.this co. | CSPI | $94M | -1029.32 | 2.10 | -0.2% | -114.33 |
| Tucows Inc. | TCX | $153M | -2.01 | -0.93 | 46.2% | 18.01 |
| MicroVision, Inc. | MVIS | $143M | -1.50 | 2.57 | -171.0% | -2.08 |
| TTEC Holdings, Inc. | TTEC | $112M | - | 1.17 | -202.5% | - |
| Expensify, Inc. | EXFY | $111M | -5.19 | 0.84 | -16.1% |
| - |
| - |
| - |
| -5.60 |
| Airship AI Holdings, Inc. | AISP | $108M | 3.69 | -15.13 | -410.1% | -14.22 |
| SoundThinking, Inc. | SSTI | $99M | -10.51 | 1.37 | -13.1% | 159.23 |
| AudioEye, Inc. | AEYE | $90M | -29.36 | 18.80 | -64.1% | 177.33 |
| Neonode Inc. | NEON | $31M | 3.66 | 1.26 | 34.4% | 0.79 |
| Peer Median | - | -2.01 | 1.22 | -40.1% | 0.79 | |