CVD Equipment Corporation announced a restructuring plan to discontinue its CVD equipment business and cease pursuing new system orders. The company is reducing its workforce by approximately half to support remaining backlog, warranty obligations, and an ongoing spare parts, quartz, and services operation. A restructuring charge of $0.8 million to $1.0 million is expected in the quarter ending September 30, 2026. CEO Emmanuel Lakios departed effective immediately, with VP Warren Cheesman appointed as Acting CEO. The company holds $23.5 million in cash and no debt while evaluating asset monetization opportunities. CVD Equipment Corporation designs and manufactures chemical vapor deposition equipment for industrial and research applications.

CVD Equipment Corporation reported second quarter 2026 results, driven by a $13.9 million gain from the April 1, 2026 sale of its SDC division for $17.4 million. The transaction generated approximately $15.0 million in net cash proceeds, increasing cash and cash equivalents to $23.5 million with no long-term debt. Reported net income was $12.6 million, or $1.81 per share, compared to a net loss of $1.1 million in the prior year period. From continuing operations, revenue declined 42.6% to $2.0 million and orders fell to $1.2 million due to lower system bookings. The company completed an operational restructuring to reduce fixed costs. Additionally, a customer associated with a recent $0.8 million order filed for Chapter 11 bankruptcy, prompting the company to evaluate potential impacts on backlog and financial results. CVD Equipment Corporation designs, develops, and manufactures chemical vapor deposition and thermal processing equipment for industrial and research applications.