Overview
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- TickerCSPI on Nasdaq1
- IndustryServices-Computer Integrated Systems Design1
- HeadquartersLowell, Massachusetts1
- Incorporated inMA3
- Business address175 Cabot Street, Suite 210, Lowell, Ma 018543
- Filer categoryNon-accelerated filer, Smaller reporting company3
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CSP Inc. ("CSPi" or "CSPI" or "the Company" or "we" or "our") was incorporated in 1968 and is based in Lowell, Massachusetts. To meet the diverse requirements of our commercial and defense customers worldwide, CSPi and its subsidiaries develop and market IT integration solutions, advanced security products, managed IT services, cloud services, purpose built network adapters, and high-performance cluster computer systems.5 From its latest annual report
Financials
From the company’s reports to the SEC. Every number links to the filing it came from.
Key numbers, fiscal 2025
31.5%Gross margin2
-5.3%Operating margin2
-0.2%Net margin2
6.4%Revenue growth, 20252
-0.2%Return on equity2
$1.9MFree cash flow2
What sells
Revenue by product, business segment and region, as the company reports it to the SEC.
Products and services
Product brought in 64% of the revenue CSP INC /MA/ broke down this way in fiscal 2025.
Products and services by year
| Products and services | 2024 | 2025 |
|---|---|---|
| Product | $36.8M | $37.7M |
| Service | $18.4M | $21.0M |
Business segments
Technology Solutions brought in 97% of the revenue CSP INC /MA/ broke down this way in fiscal 2025.
Business segments by year
| Business segments | 2024 | 2025 |
|---|---|---|
| Technology Solutions | $51.1M | $56.8M |
| High Performance Products | $4.2M | $1.9M |
Regions
United States brought in 90% of the revenue CSP INC /MA/ broke down this way in fiscal 2025.
Regions by year
| Regions | 2024 | 2025 |
|---|---|---|
| United States | $48.8M | $52.6M |
| Americas Excluding United States | $4.5M | $4.5M |
| Europe | $1.1M | $1.4M |
| APAC And Africa | $786.0K | $257.0K |
Where the money goes
Where each dollar of revenue went, fiscal 2025
- Cost of revenue63¢$40.2M
- Research and development5¢$3.2M
- Selling, general and admin29¢$18.4M
- Income tax2¢$1.6M
Out of $58.7M in revenue.2 The company lost money this year.
Where each dollar of operating cash went, fiscal 2025
- Capital spending14¢$348.0K
- Dividends paid49¢$1.2M
- Share buybacks36¢$869.0K
Out of $2.3M of cash from operations. Spending exceeded cash from operations; the rest came from savings or borrowing.2
Financial statements
Every line of the income statement as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Total sales | $58.7M | $55.2M |
| Total cost of sales | $40.2M | $36.4M |
| Gross profit | $18.5M | $18.9M |
| Research and development | $3.2M | $3.0M |
| Selling, general and administrative | $18.4M | $17.8M |
| Total operating expenses | $21.6M | $20.7M |
| Operating loss | -$3.1M | -$1.9M |
| Foreign exchange gain (loss) | $33.0K | -$438.0K |
| Interest expense | -$357.0K | -$235.0K |
| Interest income | $1.9M | $2.0M |
| Other income, net | -$82.0K | $79.0K |
| Total other income, net | $1.4M | $1.5M |
| Loss before income taxes | -$1.7M | -$419.0K |
| Income tax benefit | -$1.6M | -$93.0K |
| Net loss | -$91.0K | -$326.0K |
| Net loss attributable to common shareholders | -$91.0K | -$326.0K |
| Net loss per common share - basic (in dollars per share) | -$0.01 | -$0.04 |
| Weighted average common shares outstanding - basic (in shares) | 9.3M shares | 9.0M shares |
| Net loss per common share - diluted (in dollars per share) | -$0.01 | -$0.04 |
| Weighted average common shares outstanding - diluted (in shares) | 9.3M shares | 9.0M shares |
No quarter-by-quarter statement was filed.
Every line of the balance sheet as filed: the last 3 fiscal years (annual) or 3 quarters (quarterly), latest first.2
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash and cash equivalents | $27.4M | $30.6M | |
| Accounts receivable, net of allowances of $122 and $147 | $12.0M | $14.5M | |
| Financing receivables, net of allowances of $34 and $12 | $8.9M | $4.4M | |
| Inventories | $1.4M | $2.3M | |
| Other current assets | $2.5M | $3.1M | |
| Total current assets | $52.3M | $54.8M | |
| Property, equipment and improvements, net | $539.0K | $429.0K | |
| Operating lease right-of-use assets, net | $1.6M | $489.0K | |
| Intangibles, net | $69.0K | $50.0K | |
| Financing receivables due after one year, net of allowances of $66 and $25 | $6.0M | $2.9M | |
| Deferred income taxes, net | $4.6M | $2.7M | |
| Cash surrender value of life insurance | $5.8M | $5.6M | |
| Pension benefits assets | $42.0K | $2.2M | |
| Other assets | $177.0K | $173.0K | |
| Total assets | $71.2M | $69.4M | |
| Accounts payable and accrued expenses | $19.5M | $12.1M | |
| Line of credit | $903.0K | $4.2M | |
| Deferred revenue and contract liabilities | $1.5M | $2.2M | |
| Pension and retirement plans | $77.0K | $76.0K | |
| Income taxes payable | $192.0K | $182.0K | |
| Total current liabilities | $22.2M | $18.7M | |
| Pension and retirement plans | $1.2M | $1.3M | |
| Operating lease liabilities - noncurrent portion | $1.3M | $117.0K | |
| Income taxes payable | $165.0K | $447.0K | |
| Other noncurrent liabilities | $1.7M | $1.6M | |
| Total liabilities | $26.6M | $22.2M | |
| Common stock, $.01 par value per share; authorized, 20,000 shares; issued and outstanding 9,906 and 9,776 shares, respectively | $99.0K | $98.0K | |
| Additional paid-in capital | $24.7M | $22.7M | |
| Retained earnings | $27.7M | $29.8M | |
| Accumulated other comprehensive loss | -$8.0M | -$5.4M | |
| Total shareholders' equity | $44.6M | $47.3M | $46.1M |
| Total liabilities and shareholders' equity | $71.2M | $69.4M | |
| Accounts receivable, net of allowances | $122.0K | $147.0K | $100.0K |
| Financing receivables, net of allowances, current | $34.0K | $12.0K | |
| Financing receivables, net of allowances, non-current | $66.0K | $25.0K | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common Stock, Shares Authorized | 20.0M shares | 20.0M shares | |
| Common stock, shares issued | 9.9M shares | 9.8M shares | |
| Common stock, shares outstanding | 9.9M shares | 9.8M shares |
| Period ending | 2025-09-30 | 2024-09-30 | 2023-09-30 |
|---|---|---|---|
| Cash and cash equivalents | $27.4M | $30.6M | |
| Accounts receivable, net of allowances of $122 and $147 | $12.0M | $14.5M | |
| Financing receivables, net of allowances of $34 and $12 | $8.9M | $4.4M | |
| Inventories | $1.4M | $2.3M | |
| Other current assets | $2.5M | $3.1M | |
| Total current assets | $52.3M | $54.8M | |
| Property, equipment and improvements, net | $539.0K | $429.0K | |
| Operating lease right-of-use assets, net | $1.6M | $489.0K | |
| Intangibles, net | $69.0K | $50.0K | |
| Financing receivables due after one year, net of allowances of $66 and $25 | $6.0M | $2.9M | |
| Deferred income taxes, net | $4.6M | $2.7M | |
| Cash surrender value of life insurance | $5.8M | $5.6M | |
| Pension benefits assets | $42.0K | $2.2M | |
| Other assets | $177.0K | $173.0K | |
| Total assets | $71.2M | $69.4M | |
| Accounts payable and accrued expenses | $19.5M | $12.1M | |
| Line of credit | $903.0K | $4.2M | |
| Deferred revenue and contract liabilities | $1.5M | $2.2M | |
| Pension and retirement plans | $77.0K | $76.0K | |
| Income taxes payable | $192.0K | $182.0K | |
| Total current liabilities | $22.2M | $18.7M | |
| Pension and retirement plans | $1.2M | $1.3M | |
| Operating lease liabilities - noncurrent portion | $1.3M | $117.0K | |
| Income taxes payable | $165.0K | $447.0K | |
| Other noncurrent liabilities | $1.7M | $1.6M | |
| Total liabilities | $26.6M | $22.2M | |
| Common stock, $.01 par value per share; authorized, 20,000 shares; issued and outstanding 9,906 and 9,776 shares, respectively | $99.0K | $98.0K | |
| Additional paid-in capital | $24.7M | $22.7M | |
| Retained earnings | $27.7M | $29.8M | |
| Accumulated other comprehensive loss | -$8.0M | -$5.4M | |
| Total shareholders' equity | $44.6M | $47.3M | $46.1M |
| Total liabilities and shareholders' equity | $71.2M | $69.4M | |
| Accounts receivable, net of allowances | $122.0K | $147.0K | $100.0K |
| Financing receivables, net of allowances, current | $34.0K | $12.0K | |
| Financing receivables, net of allowances, non-current | $66.0K | $25.0K | |
| Common stock, par value (in dollars per share) | $0.01 | $0.01 | |
| Common Stock, Shares Authorized | 20.0M shares | 20.0M shares | |
| Common stock, shares issued | 9.9M shares | 9.8M shares | |
| Common stock, shares outstanding | 9.9M shares | 9.8M shares |
Cash flow is reported year to date, not quarter by quarter, so there are no separate quarterly figures.
Every line of the cash flow as filed: the last 2 fiscal years, latest first.2
| Period ending | 2025-09-30 | 2024-09-30 |
|---|---|---|
| Net income | -$91.0K | -$326.0K |
| Depreciation | $237.0K | $292.0K |
| Amortization of intangibles | $7.0K | $6.0K |
| Loss on disposal of fixed assets, net | $1.0K | $1.0K |
| Foreign exchange loss | -$33.0K | $438.0K |
| Provision (benefit) for credit losses - financing receivables | $63.0K | -$45.0K |
| Provision for credit losses - accounts receivable | $25.0K | $114.0K |
| Provision for obsolete inventory | $182.0K | $354.0K |
| Amortization of lease right-of-use assets | $458.0K | $496.0K |
| Stock-based compensation expense on restricted stock awards | $1.8M | $1.6M |
| Deferred income taxes | -$1.8M | -$387.0K |
| Increase in cash surrender value of life insurance | -$202.0K | -$180.0K |
| Accounts receivable | $2.5M | -$1.6M |
| Financing receivables | -$7.7M | $4.1M |
| Inventories | $669.0K | -$95.0K |
| Other assets | $570.0K | -$681.0K |
| Accounts payable and accrued expenses | $7.5M | $1.4M |
| Operating lease liabilities | -$450.0K | -$485.0K |
| Deferred revenue and contract liabilities | -$668.0K | $273.0K |
| Pension and retirement plans liabilities | -$557.0K | $27.0K |
| Income taxes payable | -$272.0K | -$798.0K |
| Other noncurrent liabilities | $95.0K | -$238.0K |
| Net cash provided by operating activities | $2.3M | $4.2M |
| Life insurance premiums paid | -$54.0K | -$50.0K |
| Additions of intangible assets | -$26.0K | -$10.0K |
| Purchases of property, equipment and improvements | -$348.0K | -$196.0K |
| Net cash used in investing activities | -$428.0K | -$256.0K |
| Dividends paid | -$1.2M | -$1.0M |
| Net repayments under line-of-credit agreement | -$3.3M | $2.7M |
| Repayments on note payable | $0 | -$427.0K |
| Repurchases of common stock | -$869.0K | -$104.0K |
| Proceeds from issuance of shares under equity compensation plans | $286.0K | $274.0K |
| Net cash used in financing activities | -$5.0M | $1.4M |
| Effects of exchange rate on cash, net | $29.0K | $32.0K |
| Net (decrease) increase in Cash and cash equivalents | -$3.2M | $5.4M |
| Cash paid for income taxes | -$446.0K | -$1.6M |
| Cash paid for interest | -$137.0K | -$206.0K |
| Obtaining a right-of-use asset in exchange for a lease liability | $1.6M | $19.0K |
| Customer financing for inventory sold (see Note 5 Financing receivables, net for details) | $13.7M | $5.2M |
| Vendor financing for inventory purchased (see Note 8 Accounts payable and accrued expenses, and Other noncurrent liabilities for details) | $4.5M | $3.0M |
No quarter-by-quarter statement was filed.
Corporate structure
CSP INC /MA/ sits at the top of its group. 5 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.
Major holders of CSP INC /MA/
- Visionary Wealth Advisors Filed SCHEDULE 13G on CSP INC /MA/, latest Feb 13, 2026 (5 filings since Feb 15, 2022)
- DIMENSIONAL FUND ADVISORS LP Filed SCHEDULE 13G/A on CSP INC /MA/, latest Apr 15, 2025 (4 filings since Feb 8, 2022)
- Joseph R. Nerges Filed SC 13D on CSP INC /MA/, latest Aug 19, 2024
- RENAISSANCE TECHNOLOGIES LLC Filed SC 13G/A on CSP INC /MA/, latest Feb 10, 2022
- CSP INC /MA/ Lowell, Massachusetts
- ARIA Cybersecurity Inc. 175 Cabot Street, Suite 210 Lowell, MA 01854 Subsidiary · Delaware, United States
- CSP Inc. Foreign Sales Corp., Ltd. 175 Cabot Street, Suite 210 Lowell, MA 01854 Subsidiary · U.S. Virgin Islands
- CSP Securities Corp. 175 Cabot Street, Suite 210 Lowell, MA 01854 Subsidiary · Massachusetts, United States
- Modcomp, Inc (1). 951 Broken Sound Parkway NW, Suite 250 Boca Raton, FL 33487 Subsidiary · Delaware, United States
Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.
What it owns
What CSP INC /MA/ reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.
Property and equipment
| Item | Latest | A year before | Change |
|---|---|---|---|
| Property and equipment, before depreciation | $3.0M2 Sep 30, 2025 | $9.2M2 Sep 30, 2024 | −67.9% |
| Accumulated depreciation | $2.4M2 Sep 30, 2025 | $8.8M2 Sep 30, 2024 | −72.5% |
| Property and equipment, net | $539.0K2 Sep 30, 2025 | $429.0K2 Sep 30, 2024 | +25.6% |
| Operating-lease assets (leased space) | $1.6M2 Sep 30, 2025 | $489.0K2 Sep 30, 2024 | +236.8% |
Investments
| Item | Latest | A year before | Change |
|---|---|---|---|
| Cash and cash equivalents | $27.4M2 Sep 30, 2025 | $30.6M2 Sep 30, 2024 | −10.4% |
Intangibles and goodwill
| Item | Latest | A year before | Change |
|---|---|---|---|
| Intangible assets, net (excluding goodwill) | $69.0K2 Sep 30, 2025 | $50.0K2 Sep 30, 2024 | +38.0% |
| Finite-lived intangibles, net | $69.0K2 Sep 30, 2025 | $50.0K10 Sep 30, 2024 | +38.0% |
Inventory
| Item | Latest | A year before | Change |
|---|---|---|---|
| Inventory, total | $1.4M2 Sep 30, 2025 | $2.3M2 Sep 30, 2024 | −37.1% |
| Raw materials | $02 Sep 30, 2025 | $77.0K2 Sep 30, 2024 | −100.0% |
| Work in process | $94.0K2 Sep 30, 2025 | $315.0K2 Sep 30, 2024 | −70.2% |
| Finished goods | $1.3M2 Sep 30, 2025 | $1.9M2 Sep 30, 2024 | −29.1% |
Properties, in its own words
Listed below are our principal facilities as of September 30, 2025. Management considers all facilities listed below to be suitable for the purpose(s) for which they are used, including manufacturing, research and development, sales, marketing, service and administration.
Owned
The rest of Item 2
or · Approximate
Location · Principal Use · Leased · Floor Area
HPP Segment Properties:
CSP Inc. · Corporate Headquarters · Leased · 8,257 S.F.
175 Cabot Street, Suite 210 · Sales, Marketing and
Lowell, MA 01854 · Administration
TS Segment Properties:
Modcomp, Inc. · Division Headquarters · Leased · 9,900 S.F.
951 Broken Sound Parkway, Suite 250 · Sales, Marketing and
Boca Raton, Florida 33487 · Administration
CSPI Ltd · Sales, Marketing and · Leased · 484 S.F.
Innovation House, Molly Millars Close · Administration
Wokingham, Berkshire RG41 2RX
United Kingdom
Item 2 of the 10-K filed Dec 16, 2025.5
Leadership
Who has led CSP INC /MA/, and when. Pick a name to see everywhere that person has worked.
Chief financial officer
2010201520202025
- Chief executive officerGary W. Levine Apr 1, 2026 to now15
- Chief executive officerVictor Dellovo Oct 23, 2012 to Apr 1, 202616
- Chief executive officerAlexander R. Lupinetti May 2, 2006 to Dec 18, 201217
- ChairAlexander R. Lupinetti May 2, 2006 to Dec 18, 201217
- PresidentGary Southwell Apr 1, 2026 to now18
- PresidentVictor Dellovo Jun 3, 2013 to Apr 1, 202619
- PresidentAlexander R. Lupinetti May 2, 2006 to Dec 18, 201217
- Chief financial officerGary W. Levine May 2, 2006 to now20
Board members and other officers (16)
- VP Finance & CAOMike Newbanks Jan 16, 2018 to Jan 9, 202421
- VP and GMGary Southwell Jan 26, 2018 to Feb 4, 202522
- VP Finance Chief Acct OfficerJohn M. Leydon Nov 25, 2014 to Dec 30, 201523
- Pres. Sys. & Sol. Div. MODCOMPVictor Dellovo Feb 17, 2010 to Jan 17, 201224
- VP FinanceGary W. Levine Dec 17, 2010 to Dec 17, 201025
- Chief Accounting OfficerRobert A. Stellato May 14, 2007 to Sep 4, 201426
- VP General ManagerWilliam Edson Bent Jr. Nov 3, 2006 to Dec 19, 201427
- Board memberStephen J. Webber Apr 1, 2026 to now28
- Board memberAnthony Folger Dec 30, 2024 to now29
- Board memberIsmail Azeri Jan 11, 2016 to now30
- Board memberMarilyn T. Smith Jul 30, 2013 to Feb 8, 202431
- Board memberRaymond Charles Blackmon Jr. Jul 30, 2013 to Feb 8, 202432
- Board memberRobert E. Bunnett Jul 30, 2013 to Feb 26, 201533
- Board memberVictor Dellovo Oct 23, 2012 to now16
- Board memberJ. David Lyons Feb 22, 2006 to May 24, 201334
- Board memberC. Shelton James Mar 9, 2006 to Aug 27, 202435
Subsidiaries and ownership
Subsidiaries (Exhibit 21)
- ARIA Cybersecurity Inc. 175 Cabot Street, Suite 210 Lowell, MA 01854 Delaware4
- CSP Inc. Foreign Sales Corp., Ltd. 175 Cabot Street, Suite 210 Lowell, MA 01854 U.S. Virgin Islands4
- CSP Securities Corp. 175 Cabot Street, Suite 210 Lowell, MA 01854 Massachusetts4
- Modcomp, Inc (1). 951 Broken Sound Parkway NW, Suite 250 Boca Raton, FL 33487 Delaware4
The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.
Timeline
- Aug 14, 20268-K Results of operations36
- Jun 9, 20268-K Executive or director change37
- May 7, 20268-K Results of operations38
- Apr 1, 2026New chief executive Gary W. Levine becomes CEO15
- Mar 16, 20268-K Executive or director change39
- Feb 13, 20268-K Shareholder vote40
- Feb 12, 20268-K Results of operations41
- Dec 16, 20258-K Results of operations42
- Aug 14, 20258-K Results of operations43
- May 14, 20258-K Results of operations44
- Mar 31, 20258-K Change of auditor45
- Feb 14, 20258-K Change of auditor46
- Feb 10, 20258-K Results of operations47
- Oct 23, 2012New chief executive Victor Dellovo becomes CEO16
- May 2, 2006New chief executive Alexander R. Lupinetti becomes CEO17
Calendar
Coming up
- Around Nov 21, 2026Next results, estimated About a quarter after its last report. The company hasn't announced the date.
When it reported results
- Aug 14, 2026Reported quarterly or annual results36
- May 7, 2026Reported quarterly or annual results38
- Feb 12, 2026Reported quarterly or annual results41
- Dec 16, 2025Reported quarterly or annual results42
- Aug 14, 2025Reported quarterly or annual results43
- May 14, 2025Reported quarterly or annual results44
- Feb 10, 2025Reported quarterly or annual results47
- Dec 20, 2024Reported quarterly or annual results48
Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar
Filings
200 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 32 major events, 117 insider forms, 11 large holders, 20 other. The latest 20:
- Sep 15, 20264 EDGAR
- Aug 14, 20268-K EDGAR
- Aug 14, 202610-Q EDGAR
- Aug 4, 20264 PRIMARY DOCUMENT EDGAR
- Jun 10, 20264 PRIMARY DOCUMENT EDGAR
- Jun 9, 20263 PRIMARY DOCUMENT EDGAR
- Jun 9, 20268-K EDGAR
- May 19, 2026SD EDGAR
- May 18, 20264 PRIMARY DOCUMENT EDGAR
- May 14, 20264 PRIMARY DOCUMENT EDGAR
- May 13, 20264 PRIMARY DOCUMENT EDGAR
- May 13, 20264 PRIMARY DOCUMENT EDGAR
- May 7, 202610-Q EDGAR
- May 7, 20268-K EDGAR
- Apr 15, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20264 PRIMARY DOCUMENT EDGAR
- Apr 1, 20264 PRIMARY DOCUMENT EDGAR
The 200 filings since October 2021 can be filtered by form type and year here when JavaScript is on.
Every filing from the last five years, summarized. The full record is on SEC EDGAR.
Insider trades
191 open-market trades by officers, directors and large owners since October 2021: 187 buys and 4 sales. Grants, option exercises and gifts are left out.
| Date | Who | Trade | Shares | Price | Value | Filing |
|---|---|---|---|---|---|---|
| Sep 15, 2026 | NERGES JOSEPH R10% owner | Buy | 500 | $7.96 | $4.0K | Form 4 |
| Sep 14, 2026 | NERGES JOSEPH R10% owner | Buy | 500 | $7.90 | $4.0K | Form 4 |
| Sep 11, 2026 | NERGES JOSEPH R10% owner | Buy | 3,600 | $7.82 | $28.1K | Form 4 |
| Jun 10, 2026 | NERGES JOSEPH R10% owner | Buy | 171 | $8.31 | $1.4K | Form 4 |
| Jun 9, 2026 | NERGES JOSEPH R10% owner | Buy | 899 | $8.55 | $7.7K | Form 4 |
| Jun 8, 2026 | NERGES JOSEPH R10% owner | Buy | 2,300 | $8.60 | $19.8K | Form 4 |
| May 15, 2026 | FOLGER ANTHONYDirector | Buy | 2,500 | $9.36 | $23.4K | Form 4 |
| May 13, 2026 | Azeri IsmailDirector | Buy | 218 | $9.41 | $2.1K | Form 4 |
| May 13, 2026 | NERGES JOSEPH R10% owner | Buy | 900 | $9.23 | $8.3K | Form 4 |
| May 12, 2026 | Webber Stephen J.Director | Buy | 2,500 | $9.48 | $23.7K | Form 4 |
| May 12, 2026 | Azeri IsmailDirector | Buy | 2,282 | $9.38 | $21.4K | Form 4 |
| May 12, 2026 | NERGES JOSEPH R10% owner | Buy | 1,000 | $9.27 | $9.3K | Form 4 |
| May 11, 2026 | NERGES JOSEPH R10% owner | Buy | 2,348 | $9.21 | $21.6K | Form 4 |
| Mar 13, 2026 | NERGES JOSEPH R10% owner | Buy | 200 | $8.59 | $1.7K | Form 4 |
| Mar 12, 2026 | NERGES JOSEPH R10% owner | Buy | 907 | $8.52 | $7.7K | Form 4 |
| Mar 11, 2026 | NERGES JOSEPH R10% owner | Buy | 1,100 | $8.48 | $9.3K | Form 4 |
| Feb 25, 2026 | NERGES JOSEPH R10% owner | Buy | 1,500 | $8.85 | $13.3K | Form 4 |
| Feb 24, 2026 | NERGES JOSEPH R10% owner | Buy | 1,500 | $8.73 | $13.1K | Form 4 |
| Feb 19, 2026 | NERGES JOSEPH R10% owner | Buy | 512 | $9.14 | $4.7K | Form 4 |
| Feb 18, 2026 | NERGES JOSEPH R10% owner | Buy | 4,100 | $9.21 | $37.8K | Form 4 |
All 191 trades can be filtered by person here when JavaScript is on.
From Forms 4 filed with the SEC.
Major holders
Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.
- Visionary Wealth AdvisorsSCHEDULE 13G, 5 filings Feb 15, 2022 to Feb 13, 202649
- DIMENSIONAL FUND ADVISORS LPSCHEDULE 13G/A, 4 filings Feb 8, 2022 to Apr 15, 202550
- Joseph R. NergesSC 13D, 1 filing Aug 19, 202451
- RENAISSANCE TECHNOLOGIES LLCSC 13G/A, 1 filing Feb 10, 202252
Executive pay
What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.
| Year | Executive | Age | Salary | Total pay |
|---|---|---|---|---|
| 2025 | Victor DellovoPresident and CEO | $486.7K | $1.0M53 | |
| 2025 | Gary SouthwellVice President and General Manager of High Performance Products (HPP) | $221.4K | $496.6K53 | |
| 2025 | Mike NewbanksVice President of Finance and CAO | $183.9K | $370.6K53 | |
| 2025 | Gary LevineCFO, Treasurer and Secretary | $219.9K | $329.3K53 | |
| 2024 | Victor DellovoPresident and CEO | $472.5K | $1.2M53 | |
| 2024 | Gary SouthwellVice President and General Manager of High Performance Products (HPP) | $215.0K | $504.9K53 | |
| 2024 | Mike NewbanksVice President of Finance and CAO | $178.5K | $374.4K53 | |
| 2024 | Gary LevineCFO, Treasurer and Secretary | $213.5K | $347.4K53 |
Held by these funds
The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 43. Change is in shares since the quarter before.
13F reports cover disclosed long positions in U.S. stocks only.
SEC filer profile
How CSP INC /MA/ is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.
- Name on EDGARCSP INC /MA/1
- CIK0000356037
- Employer ID (EIN)04-24412945
- Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company5
- Incorporated inMassachusetts5
- Fiscal year endsSeptember 301
- Industry code (SIC)7373 Services-Computer Integrated Systems Design1
- SEC reviewing officeOffice of Technology, Division of Corporation Finance1
- Business address175 Cabot Street, Suite 210, Lowell, MA 018541
- Phone97895450381
- Shares outstanding10,080,645 as of Aug 12, 202614
- Public float$108.3M as of Mar 31, 20255
- AuditorCBIZ CPAs P.C., Tampa, Florida PCAOB ID 199; no auditor attestation of internal control over financial reporting5
- On EDGAR sinceFeb 14, 19941
- Filings960 in all: 4 (359), 8-K (161), 10-Q (95), SC 13G/A (77), SC 13G (36), 10-K (29), DEF 14A (29), SC 13D/A (22)1
All 40 form types
SD (13), 3 (12), UPLOAD (12), 10-Q/A (11), S-8 (10), 144 (7), DEFA14A (7), NT 10-Q (7), CORRESP (6), PRER14A (6), 4/A (5), 5 (5), DFAN14A (5), NT 10-K (5), 8-K/A (4), DEFR14A (4), PRRN14A (4), SC 13D (4), 10-K/A (3), PRE 14A (3), PREC14A (3), 10-K405 (2), 5/A (2), DEFC14A (2), DEFS14A (2), SCHEDULE 13G (2), DEFN14A (1), NO ACT (1), NT 10-Q/A (1), PRES14A (1), SCHEDULE 13G/A (1), SD/A (1)
- Latest filingsAnnual report (10-K) Dec 16, 2025
Quarterly report (10-Q) Aug 14, 2026
Proxy statement (DEF 14A) Dec 30, 2025
Latest 8-K (8-K) Aug 14, 2026
Securities registered for trading
| Class | Symbol | Exchange |
|---|---|---|
| Common Stock, par value $0.01 per share | CSPI | Nasdaq Global Market |
From the cover page of the 10-K filed Dec 16, 2025 (Section 12(b) of the Exchange Act).5
Risk factors and legal proceedings
The risks CSP INC /MA/ names in Item 1A of its 10-K filed Dec 16, 2025: 24 risks under these headings, as written.5
- If any of the risks and uncertainties set forth below actually materialize, our business, financial condition and/or results of operations could be materially and adversely affected, the trading price of our common stock could decline and a stockholder could lose all or part of its, his or her investment. The risks and uncertainties set forth below are not the only ones we face. Additional risks and uncertainties not presently known to us or that we currently consider immaterial may also impair our business operations.
- Economic, Industry, and Operational Risks
- We depend on a small number of customers for a significant portion of our revenue and the loss of any customer could significantly affect our business.
- We depend on key personnel and skilled employees and face competition in hiring and retaining qualified employees.
- Our success depends in part on our timely introduction of new products and technologies and our results can be impacted by the effectiveness of our significant investments in new products and technologies.
- To be successful, we must respond to the rapid changes in technology. If we are unable to do so on a timely basis our business could be materially adversely affected.
- The complexity of our products, particularly in the HPP segment, could result in unforeseen delays or expense or undetected defects or bugs, which could adversely affect the market acceptance of new products, damage our reputation with current or prospective customers, and materially and adversely affect our operating costs.
- Our international operation is subject to a number of risks.
- We face competition that could adversely affect our sales and profitability.
- Pandemics, epidemics or disease outbreaks may materially adversely affect our business, results of operations, cash flows and financial condition.
- Intellectual Property and Systems Risks
- We may be unsuccessful in protecting our intellectual property rights which could result in the loss of a competitive advantage.
The other 14 risks
- If we become subject to intellectual property infringement claims, we could incur significant expenses and could be prevented from selling specific products.
- We need to continue to expend resources on research and development ("R&D") efforts in our HPP segment, to meet the needs of our customers. If we are unable to do so, our products could become less attractive to customers and our business could be materially adversely affected.
- Our need for continued or increased investment in research and development may increase expenses and reduce our profitability.
- Our results of operations are subject to fluctuation from period to period and may not be an accurate indication of future performance.
- If we experience a disaster or other business continuity problem, we may not be able to recover successfully, which could cause material financial loss, loss of human capital, regulatory actions, reputational harm, or legal liability.
- If we suffer any data breaches involving the designs, schematics, or source code for our products or other sensitive information, our business and financial results could be adversely affected.
- Systems failures may disrupt our business and have an adverse effect on our results of operations.
- Our business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the ongoing conflict between Russia and Ukraine.
- Our business, financial condition and results of operations could be adversely affected by disruptions in the global economy caused by the conflict between Israel and Hamas.
- Significant political, trade, regulatory developments, and other circumstances beyond our control, could have a material adverse effect on our financial condition or results of operations.
- Legal and Regulatory Risks
- Changes in regulations could materially adversely affect us.
- Risks Related to Ownership of Our Common Stock
- Failure to remediate and then maintain our internal control over our financial reporting could cause our financial reports to be inaccurate.
- Failure to maintain our accounting systems and controls could impair our ability to comply with the financial reporting and internal controls requirements for publicly traded companies.
- Our stock price may continue to be volatile.
Legal proceedings
We are currently not a party to any material legal proceedings. From time to time, we may be involved in various lawsuits and legal proceedings arising in the ordinary course of business.
The opening of Item 3, Legal Proceedings.5
Sources
The numbers on this page point here. Each one links to the record it came from.
- 1SEC EDGARCSP INC /MA/ filings on SEC EDGAR
- 2SEC EDGARCSP INC /MA/ 10-K for fiscal 2025
- 3SEC EDGARCSP INC /MA/ filings on SEC EDGAR
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- 6SEC EDGARCSP INC /MA/ 10-K for fiscal 2018
- 7SEC EDGARCSP INC /MA/ 10-K for fiscal 2020
- 8SEC EDGARCSP INC /MA/ 10-K for fiscal 2021
- 9SEC EDGARCSP INC /MA/ 10-K for fiscal 2022
- 10SEC EDGARCSP INC /MA/ 10-K for fiscal 2023
- 11SEC EDGARCSP INC /MA/ 10-K for fiscal 2019
- 12SEC EDGARCSP INC /MA/ 10-Q for fiscal 2025
- 13SEC EDGARCSP INC /MA/ 10-Q for fiscal 2026
- 14SEC EDGARCSP INC /MA/ 10-Q for fiscal 2026
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- 18SEC EDGARGary Southwell, President
- 19SEC EDGARVictor Dellovo, President
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- 21SEC EDGARMike Newbanks, VP Finance & CAO
- 22SEC EDGARGary Southwell, VP and GM
- 23
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- 25SEC EDGARGary W. Levine, VP Finance
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- 28SEC EDGARStephen J. Webber, Board member
- 29SEC EDGARAnthony Folger, Board member
- 30SEC EDGARIsmail Azeri, Board member
- 31SEC EDGARMarilyn T. Smith, Board member
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- 33SEC EDGARRobert E. Bunnett, Board member
- 34SEC EDGARJ. David Lyons, Board member
- 35SEC EDGARC. Shelton James, Board member
- 36SEC EDGARResults of operations
- 37SEC EDGARExecutive or director change
- 38SEC EDGARResults of operations
- 39SEC EDGARExecutive or director change
- 40SEC EDGARShareholder vote
- 41SEC EDGARResults of operations
- 42SEC EDGARResults of operations
- 43SEC EDGARResults of operations
- 44SEC EDGARResults of operations
- 45SEC EDGARChange of auditor
- 46SEC EDGARChange of auditor
- 47SEC EDGARResults of operations
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