Here are 1-2 brief analogies to describe Interlink Electronics (LINK):

• Synaptics for force-sensing: Think of them as a smaller, more specialized Synaptics (known for touchpads and display drivers), but focused on the force and pressure-sensing technology that enables human interaction with various devices.

• TE Connectivity for touch and force input: Imagine a highly focused division of TE Connectivity (a large industrial component supplier), dedicated to designing and manufacturing specialized components that allow devices to sense human touch and pressure.

• Force Sensing Resistors (FSRs): Proprietary resistive sensors that detect pressure or force for human-machine interface and industrial applications.
• Capacitive Touch Sensors: Touch-sensitive components and solutions designed for intuitive human-machine interaction in various devices.
• Integrated Human-Machine Interface (HMI) Solutions: Custom and standard input solutions incorporating their sensing technologies for control panels, medical devices, and other equipment.

Interlink Electronics (LINK) primarily sells its force-sensing technologies, including force-sensing resistors (FSRs), modules, and systems, to other companies (Business-to-Business, or B2B) that integrate these components into a wide range of end products across various industries.

Based on their latest Annual Report (Form 10-K) filed with the SEC for the fiscal year ended December 31, 2023, Interlink Electronics has significant customer concentration, indicating that a few major customers contribute a substantial portion of their revenue:

• One major customer accounted for 14.1% of total revenue in 2023 and 14.5% in 2022.
• Another major customer accounted for 13.9% of total revenue in 2023 and 13.8% in 2022.

While these two customers represent a significant portion of Interlink Electronics' revenue, the company does not publicly disclose the specific names of these major customers in its financial filings or other public statements. Companies in the component manufacturing sector often maintain confidentiality regarding their specific OEM (Original Equipment Manufacturer) customers. Therefore, the names of these specific customer companies and any associated public company symbols cannot be provided.

Steven N. Bronson, Chairman, President, & CEO

Mr. Bronson has over 40 years of business and entrepreneurial experience, including investment banking, operations, and management. He became the Chairman and CEO of Interlink Electronics in July 2010 and assumed the role of President in March 2011. Mr. Bronson founded Bronson & Co., an investment banking firm, in 1996, serving as CEO & Chairman until November 2014. He has held CEO and Chairman positions at BKF Capital Group, Inc. (a publicly traded company) since October 2008, and also served as President and CEO of Qualstar Corporation and its subsidiary N2Power since July 2013. From August 1998 to May 1999, he was Chairman and CEO of Mikron Infrared Instruments, Inc., leading a restructuring that increased revenue by 500 percent before it was sold in April 2007.

Ryan J. Hoffman, Chief Financial Officer

Mr. Hoffman is a key member of Interlink's executive team, managing financial strategy and overseeing all financial functions. He joined Interlink after spending 16 years at the accounting firm RSM, where he was a partner for five years, leading audits of global companies in technology, consumer products, and manufacturing. Before RSM, he worked for Ernst & Young. Mr. Hoffman also serves as the CFO of Qualstar Corp and its wholly-owned subsidiary N2Power. He previously held roles as VP of finance and operations for biotech firm Ambrx Inc. and CFO of Zensun USA. His background includes eight years at Emerson Electric Co., a Fortune 500 company, where he completed two significant acquisitions valued at over $500 million.

Declan Flannery, Vice President of Strategic Alliances

Mr. Flannery has been a core member of the Interlink executive team for over 18 years. He was previously the Vice President of Operations & Manufacturing, overseeing all facets of Interlink's global manufacturing operations, particularly in China. He has nearly 30 years of experience in managing and leading international manufacturing operations and brings a strong focus on quality and international quality standards.

Dr. Sreeni D. Rao, Vice President of Product Management

Dr. Rao leads the Gas, Environmental & Air Quality Sensors Division at Interlink Electronics and was promoted to Vice President of Product Management. He has 36 years of experience in operations, manufacturing, strategic marketing, product development, and management. Before joining Interlink, he led the MEMS Environmental Sensors division at TDK InvenSense.

Peter Roussak, Vice President & General Counsel

Mr. Roussak oversees all legal affairs of Interlink Electronics, providing counsel on a range of legal matters and ensuring compliance. He has extensive legal background and a strategic approach, with significant experience in corporate law, intellectual property, and litigation.

Interlink Electronics (LINK) operates in several addressable markets with its main products and services, primarily focusing on Force Sensing Resistors (FSRs), Human Machine Interface (HMI) solutions, engineered touch panels, and custom sensor solutions, including gas and environmental sensors.

Force Sensing Resistors (FSRs)

• The global market for Force Sensing Resistors was valued at approximately USD 635 million in 2024 and is projected to reach USD 1.28 billion by 2033, growing at a Compound Annual Growth Rate (CAGR) of 8.1%. Other estimates place the global FSR market at USD 36 million in 2024, projected to reach USD 87.7 million by 2031 with a CAGR of 13.5%, or approximately USD 820 million in 2023, projected to reach USD 1950 million by 2033, growing at a CAGR of 9.1%.

Human Machine Interface (HMI) Solutions

• The global Human Machine Interface (HMI) market was valued at USD 5.7 billion in 2024 and is projected to reach USD 14.1 billion by 2035, exhibiting a CAGR of 8.58% from 2025 to 2035. Another estimate indicates the global HMI market was valued at USD 7.4 billion in 2024 and is projected to grow at a CAGR of 12.30% from 2025 to 2034.

Resistive Touchscreens / Resistive Touch Panels Displays

• The global resistive touchscreen market was valued at USD 5.91 billion in 2024 and is expected to reach USD 11.622 billion by 2032, with a CAGR of 8.80%.
• The global resistive touch panel displays market is valued at approximately USD 10 billion in 2024 and is projected to grow at a CAGR of around 5.5%, reaching an estimated USD 13.5 billion by 2034.
• Specifically for the global resistive industrial touchscreen market, the valuation was USD 2.1 billion in 2023 and is projected to reach USD 3.4 billion by 2031, growing at a CAGR of 6.1%.

Interlink Electronics (LINK) is strategically positioning itself for future revenue growth over the next two to three years through several key initiatives and market expansions:

1. Expansion and Innovation in Gas and Environmental Sensors: The company anticipates significant growth from its Gas and Environmental Sensors division. This is driven by increased shipments and the launch of new products, including industry-first odor sensors and 4-Series carbon monoxide detectors, targeting industrial safety, infrastructure, and environmental monitoring applications. Interlink has secured substantial grants to further this area, such as a $280,000 SBIR Phase 1 award from NIEHS for advanced air quality monitoring systems, a $400,000 SBIR Phase II grant from NIST for high-volume printed gas sensor manufacturing (aiming for over 10 million units annually for consumer markets), a $150,000 SBIR Phase I grant from NASA for predictive air quality assessment solutions, and a $200,000 SBIR Phase 1 grant from the FDA for electrochemical sensors in food safety.

2. Strategic Acquisitions and Market Diversification: Recent acquisitions are expected to bolster revenue. The acquisition of UK-based Conductive Transfers Limited, for instance, significantly enhances Interlink's capabilities in the high-growth e-textiles and wearable technology markets, expanding product offerings across healthcare, apparel, medical, and automotive sectors. Additionally, the Calman Technology subsidiary continues to drive stronger demand in printed electronics.

3. Major Design Wins and Deepening Customer Relationships: Interlink has secured a significant integrated sensing solution design win with a division of a top-10 global company, which is projected to generate approximately $1 million in revenue in 2026, with further expansion in subsequent years. The company is also focused on continuing to build momentum and expand relationships with new and existing Fortune 500 customers, supported by its scalable product portfolio.

4. Rebound in Force-Sensing Business: Although the force-sensing segment has shown recent weakness, Interlink Electronics anticipates a "steady rebound" in this business as market demand normalizes. This expected recovery is a crucial component of the company's projected overall revenue growth in the coming years.

Share Repurchases

• In May 2023, the Board of Directors authorized a program to repurchase up to 100,000 shares of common stock, which was effective from May 2023 to May 2024 or until the limit was reached.

Share Issuance

• A 50% common stock dividend was issued on March 22, 2024, which increased the outstanding shares to approximately 9.86 million.
• On October 15, 2025, all outstanding 8.00% Series A Convertible Preferred Stock were mandatorily converted into common stock, with each preferred share converting into three common shares.

Inbound Investments

• In December 2024, Interlink was awarded a $400,000 SBIR Phase II grant from NIST to advance high-volume manufacturing techniques for printed gas sensors.
• The company received a $150,000 SBIR Phase I grant from NASA for the development of air quality monitoring systems.
• In October 2025, Interlink Electronics was awarded a $200,000 FDA SBIR Grant to advance electrochemical sensors for food safety and quality monitoring.

Outbound Investments

• In December 2024, Interlink acquired UK-based Conductive Transfers Limited and its affiliate, Global Print Solutions Limited, to enhance capabilities in wearables and smart textiles and expand product offerings.
• In 2022, the company acquired the business assets of SPEC Sensors, LLC and KWJ Engineering, Inc., entering the gas and environmental sensing market.

Capital Expenditures

• Capital expenditures for the year ended December 30, 2024, were $177,000.
• The company's strategy involves utilizing advanced facilities acquired through recent acquisitions, such as SPEC/KWJ and Conductive Transfers, to support business growth and alignment with top-tier customers.