Note 11 - Segment Data

9 Months Ended

Sep. 28, 2025

Segment Reporting Disclosure [Text Block]

(11)

Segment Data

The Company is organized into two business segments, Sypris Technologies and Sypris Electronics. Our Chief Executive Officer (CEO) serves as our Chief Operating Decision Maker (CODM) and is responsible for reviewing segment performance and making decisions regarding resource allocation. Our CODM evaluates each segment’s performance based on metrics such as net revenue, gross profit, operating income and other key financial indicators, guiding strategic decisions to align with company-wide goals. On a monthly basis, the CODM considers budget-to-actual variances for gross profit and operating income when making decisions about allocating capital to the segments. The segments are each managed separately because of the distinctions between the products, markets, customers, technologies, and workforce skills of the segments. Sypris Technologies generates revenue primarily from the sale of forged, machined, welded and heat-treated steel components primarily for the heavy commercial vehicle and high-pressure energy pipeline applications. Sypris Electronics provides circuit card and box build manufacturing, high reliability manufacturing, systems assembly and integration, design for manufacturability and design to specification work to customers in the market for aerospace and defense, communications and space electronics. There was no intersegment net revenue recognized for any year presented.

The Company includes the unallocated costs of its corporate office, including the employment costs of its senior management team and other corporate personnel, administrative costs and net corporate interest expense incurred at the corporate level under the caption “General, corporate and other” in the table below. Such unallocated costs include those for centralized information technology, finance, legal and human resources support teams, certain professional fees, director fees, corporate office rent, certain self-insurance costs and recoveries, software license fees and various other administrative expenses that are not allocated to our reportable segments. The unallocated assets include cash and cash equivalents maintained in its domestic treasury accounts and the net book value of corporate facilities and related information systems. The unallocated liabilities consist primarily of the related party notes payable. Domestic income taxes are calculated at an entity level and are not allocated to our reportable segments. Corporate capital expenditures and depreciation and amortization include items attributable to the unallocated fixed assets of the corporate office and related information systems.

The following table presents financial information for the reportable segments of the Company (in thousands):

	Three Months Ended						Nine Months Ended
	September 28,			September 29,			September 28,			September 29,
	2025			2024			2025			2024
	(Unaudited)						(Unaudited)
Net revenue from unaffiliated customers:
Sypris Technologies	$	11,534		$	19,469		$	39,204		$	55,660
Sypris Electronics		17,138			16,188			50,402			51,071
Total net revenue	$	28,672		$	35,657		$	89,606		$	106,731

Gross profit:
Sypris Technologies	$	870		$	3,661		$	5,120		$	8,431
Sypris Electronics		1,181			2,318			2,881			6,073
Total gross profit	$	2,051		$	5,979		$	8,001		$	14,504

Operating (expense) income:
Sypris Technologies	$	(633	)	$	2,236		$	583		$	4,131
Sypris Electronics		200			1,137			(267	)		2,239
General, corporate and other		(1,305	)		(1,644	)		(3,625	)		(4,742	)
Total operating (expense) income	$	(1,738	)	$	1,729		$	(3,309	)	$	1,628

Interest expense, net:
Sypris Technologies	$	51		$	63		$	145		$	191
Sypris Electronics		49			321			140			719
General, corporate and other		285			162			783			558
Total interest expense, net	$	385		$	546		$	1,068		$	1,468

Other (income) expense, net:
Sypris Technologies	$	(2,464	)	$	252		$	(2,061	)	$	801
Sypris Electronics		(10	)		(6	)		(18	)		(14	)
General, corporate and other		0			0			(6	)		(6	)
Total other (income) expense, net	$	(2,474	)	$	246		$	(2,085	)	$	781

Income (loss) before taxes:
Sypris Technologies	$	1,868		$	1,984		$	2,756		$	3,322
Sypris Electronics		160			822			(391	)		1,533
General, corporate and other		(1,677	)		(1,869	)		(4,657	)		(5,476	)
Total income (loss) before taxes	$	351		$	937		$	(2,292	)	$	(621	)

Depreciation and amortization:
Sypris Technologies	$	482		$	540		$	1,409		$	1,764
Sypris Electronics		239			233			719			683
General, corporate and other		0			0			0			2
Total depreciation and amortization	$	721		$	773		$	2,128		$	2,449

Capital expenditures:
Sypris Technologies	$	199		$	48		$	357		$	432
Sypris Electronics		11			109			11			234
General, corporate and other		2			0			5			0
Total capital expenditures	$	212		$	157		$	373		$	666

	September 28,		December 31,
	2025		2024
	(Unaudited)
Total assets:
Sypris Technologies	$	38,306	$	35,013
Sypris Electronics		65,780		76,405
General, corporate and other		8,382		7,958
Total assets	$	112,468	$	119,376

Total liabilities:
Sypris Technologies	$	22,521	$	18,104
Sypris Electronics		53,594		68,780
General, corporate and other		16,399		12,911
Total liabilities	$	92,514	$	99,795

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

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+ Details

SYPRIS SOLUTIONS INC 10-Q