CSP Inc 2024年度报告

☒ANNUAL REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the FiscalYear Ended September30, 2025. ☐TRANSITION REPORT PURSUANT TO SECTION13 OR 15(d)OF THE SECURITIESEXCHANGE ACT OF 1934 For the transition period fromtoCommission File Number 000-10843CSPInc.(Exact name of Registrant as specified in its Charter)Massachusetts04-2441294(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)175 Cabot Street, Lowell, Massachusetts 01854(Address of principal executive offices)(978)954-5038(Registrant’s telephone number including area code)Securities Registered Pursuant to Section12(b)of the Act: Indicate by check mark if the registrant is not required to file reports pursuant to Section13 or Section15(d)of the Act.Yes◻No⌧ Indicate by check mark whether the registrant (1)has filed all reports required to be filed by Section13 or 15(d)of the Securities Exchange Act of1934 during the preceding 12months (or for such shorter period that the registrant was required to file such reports), and (2)has been subject to suchfiling requirements for the past 90days.Yes⌧No◻. Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant toRule405 of Regulation S-T (§232.405 of this chapter) during the preceding 12months (or for such shorter period that the registrant was required tosubmit 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 growthcompany" in Rule12b-2 of the Exchange Act. Accelerated filer◻Smaller Reporting Company☒Emerging Growth Company☐ Large accelerated filer◻Non-accelerated filer⌧ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying withany new or revised financial accounting standards provided pursuant to Section13(a)of the Exchange Act.◻ Indicate by check mark whether the registrant has filed a report on and attestation to its management’s assessment of the effectiveness of itsinternal control over financial reporting underSection 404(b) of the Sarbanes-Oxley Act(15 U.S.C. 7262(b)) by the registered public accounting firmthat prepared or issued its audit report.☐ If securities are registered pursuant to Section 12(b) of the Act, indicate by check mark whether the financial statements of the registrant includedin the filing reflect the correction of an error to previously issued financial statements.☐ Indicate by check mark whether any of those error corrections are restatements that required a recovery analysis of incentive-based compensationreceived by any of the registrant’s executive officers during the relevant recovery period pursuant to §240.10D-1(b).☐ The aggregate market value of the registrant’s common stock held by non-affiliates of the registrant was $108,261,682 based on the closing saleprice of $15.34 as reported on the Nasdaq Global Market on March 31, 2025. This day was the last business day of the registrant’s most recentlycompleted second fiscal quarter. As of December 12, 2025, the registrant had 9,904,783 shares of common stock outstanding. DOCUMENTS INCORPORATED BY REFERENCE Certain portions of the information required in PartIII of this Form10-K are incorporated by reference from the registrant’s definitive proxystatement for its 2026 annual meeting of stockholders to be filed with the Securities and Exchange Commission within 120days after the end of itsfiscalyear ended September30,2025. TABLE OF CONTENTS PARTI.Item1.BusinessItem1A.Risk FactorsItem 1C.CybersecurityItem2.PropertiesItem3.Legal ProceedingsItem4.Mine Safety Disclosures 2816171717 PARTII.Item5.Market for Registrant’s Common Equity, Related Stockholder Matters and IssuerPurchases of Equity Securities17Item 6.[Reserved]18Item7.Management’s Discussion and Analysis of Financial Condition and Results ofOperations18Item8.Financial Statements and Supplementary Data28Item9.Change in and Disagreements with Accountants on Accounting and FinancialDisclosures29Item9A.Controls and Procedures29Item9B.Other Information31Item 9C.Disclosure Regarding Foreign Jurisdiction that Prevent Inspections31 PARTIII.Item10.Directors, Executive Officers and Corporate Governance31Item11.Executive Compensation31Item12.Security Ownership of Certain Beneficial Owners and Management and RelatedStockholder Matters31Item13.Certain Relationships and Related Transactions and Director Independence32Item14.Principal Accountant Fees and Services32 PARTIV.Item15.Exhibits and Financial Statement Schedules32Item16.Form10-K Summary33 Note: Items 1B and 7A are not required for Smaller Reporting Companies and therefore are not furnished. Special NoteRegardi