sypr20260705

sypr20260705_10q.htm

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington D.C. 20549

FORM 10-Q

(Mark One)

☒ Quarterly Report Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the quarterly period ended July 5, 2026

☐ Transition Report Pursuant To Section 13 Or 15(d) Of The Securities Exchange Act Of 1934
For the transition period from _____ to _____

Commission file number: 0-24020

SYPRIS SOLUTIONS, INC.

(Exact name of registrant as specified in its charter)

Delaware	61-1321992
(State or other jurisdiction	(I.R.S. Employer
of incorporation or organization)	Identification No.)

101 Bullitt Lane, Suite 450
Louisville, Kentucky 40222	(502) 329-2000
(Address of principal executive	(Registrant’s telephone number,
offices) (Zip code)	including area code)

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common Stock	SYPR	Nasdaq

Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. ☒ Yes ☐ No

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to rule 405 of Regulation S-T (§ 232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). ☒ Yes ☐ No

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

☐ Large accelerated filer	☐ Accelerated filer	☒ Non-accelerated filer	☒ Smaller reporting company
☐ Emerging growth company

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). ☐ Yes ☒ No

As of August 5, 2026, the Registrant had 23,026,433 shares of common stock outstanding.

Table of Contents

Part I. Financial Information

Item 1.	Financial Statements

	Consolidated Statements of Operations for the Three and Six Months Ended July 5, 2026 and June 29, 2025	2

	Consolidated Statements of Comprehensive Income (Loss) for the Three and Six Months Ended July 5, 2026 and June 29, 2025	3

	Consolidated Balance Sheets at July 5, 2026 and December 31, 2025	4

	Consolidated Cash Flow Statements for the Six Months Ended July 5, 2026 and June 29, 2025	5

	Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended July 5, 2026 and June 29, 2025	6

	Notes to Consolidated Financial Statements	7

Item 2.	Management’s Discussion and Analysis of Financial Condition and Results of Operations	19

Item 3.	Quantitative and Qualitative Disclosures about Market Risk	27

Item 4.	Controls and Procedures	27

Part II. Other Information

Item 1.	Legal Proceedings	28

Item 1A.	Risk Factors	28

Item 2.	Unregistered Sales of Equity Securities and Use of Proceeds	28

Item 3.	Defaults Upon Senior Securities	28

Item 4.	Mine Safety Disclosures	28

Item 5.	Other Information	28

Item 6.	Exhibits	29

Signatures		30

Part I. Financial Information

Item 1. Financial Statements

Sypris Solutions, Inc.

Consolidated Statements of Operations

(in thousands, except for per share data)

	Three Months Ended						Six Months Ended
	July 5,			June 29,			July 5,			June 29,
	2026			2025			2026			2025
	(Unaudited)						(Unaudited)

Net revenue	$	30,341		$	31,426		$	56,152		$	60,934
Cost of sales		28,360			28,842			53,350			54,984
Gross profit		1,981			2,584			2,802			5,950
Selling, general and administrative		4,437			4,025			8,860			7,521
Operating loss		(2,456	)		(1,441	)		(6,058	)		(1,571	)

Interest expense, net		502			381			1,032			683
Other expense, net		192			224			332			389
Loss before taxes		(3,150	)		(2,046	)		(7,422	)		(2,643	)
Income tax (benefit) expense, net		(37	)		5			(183	)		307
Net loss	$	(3,113	)	$	(2,051	)	$	(7,239	)	$	(2,950	)

Loss per share:
Basic	$	(0.14	)	$	(0.09	)	$	(0.32	)	$	(0.13	)
Diluted	$	(