Interlink Electronics develops sensors, printed electronics, smart-textile technologies, and engineered sensing solutions used across medical, industrial, automotive, environmental, consumer, and other applications. Its portfolio includes force-sensing resistors, gas and air-quality sensors, printed electronics, membrane interfaces, rugged touchpads, and conductive-transfer technology for wearable and smart-textile applications.
Growth is being pursued through both internal product development and a sensor-focused acquisition strategy. Interlink has completed four acquisitions since late 2022 and recently signed a non-binding letter of intent for a fifth acquisition that would add precision thermal-management components, U.S. manufacturing capacity, aerospace certification, ITAR capabilities, and approximately $33 million of annual revenue.
Interlink generated just under $12 million of revenue in 2025 with adjusted EBITDA (earnings before interest, taxes, depreciation, and amortization) of approximately negative $0.9 million. Management has established a longer-term goal of reaching $100 million of revenue, and the pending acquisition would increase pro forma annual revenue to approximately $46 million to $48 million while moving the combined business into positive adjusted EBITDA.
POSITIVE TAKEAWAYS
Interlink owns 49 issued patents with another 14 pending, supporting proprietary positions across several sensing technologies.
Management owns approximately 76% of the company, creating substantial insider alignment with shareholders.
The company is vertically integrated across product development, prototyping, firmware, software, and manufacturing.
Interlink’s acquisitions have expanded its technologies, geographic footprint, engineering talent, manufacturing capabilities, and customer relationships.
The pending acquisition would add more than $33 million of annual revenue and approximately $4 million of EBITDA based on its prior-year results.
Management expects the pending acquisition to make the combined company profitable.
The acquisition target would add aerospace and ITAR certifications, accelerating Interlink’s entry into defense rather than requiring those capabilities to be built internally.
Interlink sees cross-selling opportunities between acquired businesses and its existing customer base.
Gas and environmental sensing capabilities address applications including air quality, methane monitoring, and wildfire detection.
Smart-textile technology uses proprietary conductive-transfer processes that can incorporate sensing, heating, and stimulation functionality into fabrics.
Management targets acquisitions that are accretive or capable of producing attractive returns after required post-acquisition investment.
CAUTIOUS TAKEAWAYS
The current standalone business remains adjusted EBITDA negative following investments in gas sensing and smart textiles.
The pending acquisition has only reached the non-binding letter-of-intent stage and therefore remains subject to execution and closing risk.
Reaching the stated $100 million revenue objective will require substantial additional organic growth, acquisitions, or both.
Operating multiple sensing technologies and end markets requires separate technical and commercial expertise across business units.
Some acquired technologies, particularly smart textiles, still require continued investment before demonstrating mature revenue and profitability.
The membrane-keypad portion of the portfolio is described by management as commoditized.
The acquisition strategy introduces integration, financing, and capital-allocation risk as the company expands into additional technology categories.
Future acquisitions may require bank debt or mezzanine financing in addition to cash and equity consideration.
