CPS Technologies

What CPS Technologies does

CPS Technologies Corporation (NASDAQ: CPSH) is a 40-year veteran advanced materials manufacturer specializing in metal matrix composites (MMCs), with Aluminum Silicon Carbide (AlSiC) as its flagship material platform. Founded in 1984 and headquartered in Norton, Massachusetts, CPS develops proprietary thermal management, structural, and ballistic protection materials serving aerospace, defense, transportation, energy, communications, and electrification markets. The company holds U.S. Navy qualification for its HybridTech Armor® ballistic protection product and has supplied AlSiC hermetic housings for the SHERLOC scientific instrument on NASA's Perseverance Rover, as well as components for GPS satellites supporting U.S. Space Force and International Space Station applications. CPS operates a fully-integrated manufacturing platform that spans proprietary Quickset™ Injection Molding (QIM), high-pressure metal infiltration, 5-axis CNC machining, 3D printing, and composite processing—enabling vertical control from material development through precision machining.

CPS monetizes primarily through B2B hardware sales of engineered AlSiC baseplates (extending IGBT power module life by 10x versus traditional materials), hermetic microelectronics packages, and HybridTech Armor® panels, supplemented by SBIR/STTR research contracts from the U.S. Army, U.S. Navy, and Department of Energy. Notable named customers include the U.S. Navy (aircraft carrier armor including USS Abraham Lincoln), NASA, U.S. Marine Corps, Lockheed Martin (radar technology for Danish Navy), and Continental (automotive pin cooling). The company secured ISO-9001 certification since 1999 and maintains ITAR and DFARS compliance, gating access to defense supply chains.

Revenue reached a record $32.6 million in FY2025, with Q4 2025 revenue of $8.2 million representing 38.98% YoY growth. Major commercial contracts include a $15.5 million power module supply agreement with a global semiconductor manufacturer announced October 2025 supporting high-speed rail and grid infrastructure, and approximately $13.3 million in supply agreements with a longstanding customer. CPS pursues parallel sales motions: enterprise direct sales to OEMs and government contracting through competitive bidding and SBIR/STTR programs. The company is currently undergoing a manufacturing facility relocation to a larger site near Boston, supported by approximately $20 million in equity raises completed in October 2025 and May 2026, signaling a transition to higher-volume operations under President and CEO Brian Mackey (appointed August 2023) and newly-hired CFO Chris Fraser (May 2026).

Name

CPS Technologies

Legal name

CPS Technologies Corporation

Website

https://cpstechnologysolutions.com

Company type

Public

Founded year

1984

Operating status

Operating

Headcount range

51–100 employees

Short description

CPS Technologies (NASDAQ: CPSH) is a 40-year veteran manufacturer of proprietary metal matrix composites—primarily AlSiC—serving aerospace, defense, semiconductor, transportation, and energy customers with thermal management, hermetic packaging, and ballistic protection products.

Ownership category

akta.pro rank

Product category

Advanced Metal Matrix Composites Materials

NAICS

Other Fabricated Metal Product Manufacturing (3329), Printed Circuit Assembly (Electronic Assembly) Manufacturing (334418)

SIC

Electronic Components, Nec (3679), Miscellaneous Fabricated Metal Products (3490)

akta.pro primary industry

Industrial PCB & Substrate Components (Bare PCBs, rigid-flex, ceramic substrates, thick-film) (IMAGAJAM)

akta.pro secondary industry

Industrial & Machinery Injection Molded Components (Gears, Wear Parts) (IMANAFAF)

Keywords

• Metal matrix composites
• Thermal management materials
• Hermetic microelectronics packaging
• Lightweight ballistic armor
• Advanced materials manufacturing

Headquarters

HQ city

Norton

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Personnel, Operations, Supply Chain, Technology or R&D, Infrastructure, Marketing or Sales

Revenue model

1. Product Sales - Metal Matrix Composites and Components: CPS generates primary revenue from manufacturing and selling advanced metal matrix composite products including AlSiC baseplates, hermetic packages, and HybridTech Armor. Record fiscal 2025 sales reached $32.6 million with Q4 2025 revenue of $8.2 million.
2. Government Research Contracts (SBIR/STTR): CPS receives SBIR and STTR contracts from U.S. Department of Energy, U.S. Army, and U.S. Navy for developing advanced materials including radiation shielding, thermal energy storage, and munitions applications. Phase I awards valued at $250,000 and Phase II awards provide funded research revenue.
3. Semiconductor Manufacturing Components: Power module components delivery contract valued at $15.5 million over 12 months starting October 2025 with a multinational semiconductor manufacturer, supporting high-speed rail, energy, and grid infrastructure sectors.

Go-to-market motion2 records

Distribution channels1 record

Marketing channels5 records

Core offering

CPS Technologies develops and manufactures advanced metal matrix composites (MMCs), primarily Aluminum Silicon Carbide (AlSiC), sold as finished components including AlSiC baseplates for IGBT power modules, hermetic microelectronics packages, and HybridTech Armor® ballistic protection panels. The company operates fully integrated manufacturing—from proprietary material formulation through Quickset™ Injection Molding, high-pressure metal infiltration, 5-axis CNC machining, and 3D printing—serving aerospace, defense, semiconductor, transportation, energy, and communications markets.

Product overview

CPS Technologies is an advanced materials company offering a portfolio of Metal Matrix Composite (MMC) products and precision manufacturing capabilities. The core product line centers on AlSiC-based Metal Matrix Composites, which serve as the foundational technology enabling multiple product lines including Hermetic Packages for microelectronics, HybridTech Armor® for ballistic protection, and AlMax™ for high-temperature applications. The company operates manufacturing capabilities including Metal Infiltration, Quickset™ Injection Molding, 5-Axis CNC Machining, 3D Printing, and Composite Processing. Additionally, developing technologies include Radiation Shielding, Fiber Reinforced Composites, Tungsten Injection Molding, and Thermal Energy Storage. These materials and capabilities serve critical applications across aerospace, defense, transportation, power generation, communications, and electrification industries.

Differentiator

Problem solved

Functional benefit

Brands

• HybridTech Armor®: Lightweight, high reliability armor combining advanced ceramics and metal matrix composite layers for military personnel protection.
• AlMax™
• Quickset Injection Molding (QIM)

Products and services

• AlSiC Metal Matrix Composites

Quantifiable outcome

• 10X longer IGBT power module life with AlSiC baseplates compared to traditional materials
• +5 more outcomes

Named customers7 records

Segments5 records

Ideal customer profiles5 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

One partnership is on record.

• Da-Com CorporationcoreImplementation/ SI/ Consulting Partner · 3 March 2026Da-Com Corporation selected as general contractor for CPS's planned manufacturing facility relocation near Boston. The new larger facility will address current space constraints limiting production capacity and support the company's expanding third-shift operations.

Scale indicators8 records

Recent moves8 records

Expansion highlights5 records

Broad incumbents

• CoorsTek: CoorsTek is one of the largest technical ceramics manufacturers globally, serving aerospace, defense, semiconductor, and medical customers with engineered ceramic components — broader portfolio but overlapping with CPS on ceramic substrates and defense applications.
• Denka Corporation: Denka is a Japanese specialty chemicals and materials conglomerate with advanced ceramics, electronic materials, and thermal management products serving semiconductor, electronics, and automotive customers — overlapping with CPS in electronic substrates and power electronics.
• CeramTec: CeramTec is a global leader in advanced technical ceramics for electronics, automotive, medical, and defense markets, with substrate and packaging offerings for power electronics — a broader incumbent that competes with CPS in ceramic substrates and hermetic packaging.
• Kyocera Corporation: Kyocera is a global diversified ceramics and electronics manufacturer with fine ceramic substrates, semiconductor packages, and electronic components — a broader incumbent that competes with CPS on hermetic packages and ceramic substrates for electronics.

Direct peers

• Surmet Corporation: Surmet is a privately held advanced ceramics and transparent armor manufacturer supplying DoD aerospace and defense programs with ceramic armor and optical materials — directly comparable to CPS's HybridTech Armor® ballistic protection franchise.
• Momentive Technologies: Momentive Technologies supplies advanced materials including specialty ceramics, quartz, and silicon carbide products used in semiconductor, aerospace, and industrial applications — comparable to CPS in ceramic-based thermal management and defense materials.
• Materion Corporation: Materion is a publicly traded specialty engineered materials producer serving aerospace, defense, semiconductor, and energy markets with metal matrix composites, beryllium products, and microelectronics packaging — the closest like-for-like competitor to CPS across MMC baseplates, hermetic packages, and defense materials.
• Rogers Corporation: Rogers Corporation makes advanced engineered materials including curamik® direct-bonded-copper substrates and thermal management solutions for power electronics, EV, and rail — directly competitive with CPS's AlSiC baseplates for IGBT power modules.
• Morgan Advanced Materials: Morgan Advanced Materials produces technical ceramics, carbon, and composite solutions for defense armor, aerospace, and power electronics — overlapping with CPS in ballistic armor and ceramic substrate components.

Emerging players

• DWA Aluminum Composites: DWA Aluminum Composites manufactures aluminum matrix composites and beryllium-aluminum products for aerospace, defense, and space applications — a focused emerging player competing with CPS in MMC structural and thermal management components.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks7 records

Key highlights7 records

Customer concentration

• Xx.com/cpstechsolution
• Facebookfacebook.com/CPSTechSolutions
• LinkedInlinkedin.com/company/cps-technologies-corporation

Compliance7 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles11 records

Funding overview

Funding rounds4 records

Investors2 records

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about CPS Technologies