CVD Equipment will stop pursuing new system orders and reduce its workforce by approximately half, while expecting restructuring charges of $0.8 million to $1.0 million. The shift leaves existing backlog, warranties, spare parts, quartz and services as operating priorities, with Warren Cheesman serving as acting CEO and the company reporting $23.5 million in cash and no debt.

Key Highlights

  • CVD Equipment will stop pursuing new system orders for its CVD equipment business.
  • The company will reduce its workforce by approximately half.
  • Emmanuel Lakios left his roles as president and CEO and departed the board on September 3, 2026.

CVD EQUIPMENT CORP (NASDAQ: CVV) will stop pursuing new system orders for its CVD equipment Business and reduce its workforce by approximately half.

New Orders Halted as Restructuring Begins On September 3, 2026, the board committed to a restructuring plan after evaluating strategic alternatives for the CVD equipment business. The charge, expected in the quarter ending September 30, 2026, will consist primarily of employee severance and related costs. Existing customer projects will continue to receive support, as will the company’s spare parts, quartz and services business.

Emmanuel Lakios concluded his employment as president and chief executive officer on September 3, 2026, and left the board.

Investor Insights

Acting CEO Takes Charge as Asset Options Remain The board continues to assess cost reductions, asset monetization and opportunities involving real estate, including the primary Facility in Central Islip. The company said the restructuring is intended to align its cost structure with current market conditions. It is also designed to reduce operating risk and preserve liquidity.