Interlink Electronics, Inc. Common Stock Lytham Partners 2026 Consumer & Technology Investor Summit

Hello, and welcome to the Interlink Electronics company fireside chat. My name is Adam Lowensteiner, Vice President at Lytham Partners, and today Mr. Steven Bronson, Chief Executive Officer at Interlink Electronics, has joined us for a fireside chat discussion. Interlink Electronics trades under the ticker LINK on the Nasdaq, and let's get started. Steve, welcome. Thank you. Steve, you have a long track record of taking undervalued tech firms and restructuring them for growth.

Can you tell us a little about that and where you are currently in that cycle with Interlink?

Yes. Interlink is one of three public technology companies that I got involved as a turnaround. When I originally got involved with Interlink, they sold off two business units that was most of the revenues around Interlink, and I took control because of the promise around the core of force sensing technology. Within a year of taking control, I took the business from a loss of a few million in revenues to break even. Prior to that, I also successfully did a turnaround on Micron Instruments, where I bought out one of the co-founders, myself, and a small group of investors, with myself being a majority investor.

With a year of taking over as president, I had the business back to break even and then built out a very solid management team that subsequently grew the business over the next six years, and we ended up selling our original investment for almost 11x. In addition to Interlink and Micron Instruments, I also got involved and executed a turnaround on Qualstar Corporation, which is in the data storage arena, where I took control of the business and in my first year cleaned up legacy commitments made by my predecessor. After the first year of cleaning up those financial commitments, we had it back on track to break even, and then subsequently profitable. Interlink is definitely not my first rodeo, and where we are with Interlink is beyond the turnaround stage.

We are in a very high-growth mode, both organically and through acquisitions, and we are very bullish on the long-term prospects of the company.

It has been a year since we last chatted. There has been some really positive news, as you just explained. Can you review what has been going on in the past year?

Sure. We have made progress. When we acquired the gas environmental air quality businesses, we have the sensor business and the instrument business. We have invested a lot within that business unit the last couple of years, so we have expanded the portfolio, both on the types of gases we can measure, and we are also rolling out some new instruments related to the gas measurement side. In addition, and I would say one of the most exciting ones, there is so much going on at Interlink, and part of the attractiveness is we have different irons and different fires, and we acquired Conductive Transfers, that is in the smart textile wearable space in December 2024. We recently launched a new product development and R&D center that is focusing on driving larger commercialized opportunities within that segment, and so we are excited about that.

We also have some very strong momentum at our Scotland unit, which is the print electronics membrane keypads. That was Calman Technology that we acquired in March of 2023. We have a lot of momentum on the printed electrodes segment, which is the ability to miniaturize leveraging printed electronics, so our expertise around the inks and the substrates to use, that is applied in the biomedical industry. We have a customer who uses, we print, basically it's used as a precursor before they run RNA and DNA testing. We see a lot of opportunities.

There's a lot of activity on expanding in the world of home healthcare, so point-of-care devices, and all of that has a need for the printed electrodes to analyze the chemistry and our expertise, not just on the inks and the substrates, but it's also the high volume precision manufacturing and print electronics that we have within the Interlink family.

You've positioned Interlink into many growth sub-sectors, as you explained, operating at the crossroads of smart textiles, wearables, Internet of Things, medical automation, and anything that can supply necessary hardware for intelligent data collection. What are some of the major applications Interlink is involved in, and are they affected by the future use of AI?

Yeah. We play in the AI universe today, and we see the future is only going to expand the opportunities for Interlink. For example, on our gas environmental air quality sensing, we are able to measure multiple types of gases. We can create a true air quality index, and it's leveraging our in-house capabilities from a firmware software that we've designed and developed an algorithm that utilizes AI to take the different gases that we're measuring to create a true air quality index. That's one example. Another, through an SBIR grant, we developed a low-cost sensor platform to detect early warning detection for wildfires, which is extremely relevant in today's world, unfortunately. Every part of the world has been impacted by wildfires, and there's definitely some examples of that in the news today.

It's constant, so whether it's today or, unfortunately, weeks from now, that will be in the news. We leverage AI as part of that, able to detect and pick up a reading that is above normal or abnormal and is an indicator that more than likely it's the beginning of a wildfire, so allows first responders to address the situation in a timely fashion.

Many investors view sensors as a commoditized hardware business. How does Interlink's tech stack capture premium margins from the AI boom, and what proprietary software layer are you building to lock in recurring revenue?

Yeah. We're definitely, other than if you look at our business as a whole and the various technologies and product groups, for the most part, we're not in the commoditized business. I would say the only segment is the membrane keypads on a standalone basis, but if you incorporate other types of technologies into that membrane pad, it gets you away from the commoditized side. The fact that we're fully integrated, so not only we're developing the sensor, but we're also developing in-house the firmware and the software, adding another layer. Our proprietary algorithms and some of the applications I described previously adds extra IP and also a pillar of defense from competitors. That allows us to garnish a higher margin and avoid being in a commoditized electronic component or solution business.