Nortech Systems Inc
nortechsys.comNortech Systems Incorporated (NASDAQ: NSYS) is an electronics manufacturing services (EMS) company that designs and manufactures complex electromedical devices, electromechanical systems, wire and cable assemblies, printed circuit board assemblies, and higher-level box builds for customers in medical, industrial, and aerospace markets. Revenue is transactional, generated by contract manufacturing and value-added engineering services including design, prototyping, testing, supply chain management, and post-market support. Headquartered in Maple Grove, Minnesota and organized in 1990, the company operates manufacturing facilities in Minnesota, Monterrey (Mexico), and Suzhou (China). Total net sales were $118.4 million for the year ended December 31, 2025, down from $128.1 million in FY2024. One customer accounted for 32.2% of net sales in FY2025, a material concentration risk. The company does not pay dividends and reported a net loss of $252 thousand ($0.09 per diluted share) in FY2025. As of March 12, 2026, there were 563 shareholders of record.
Products & Services
Complex electromedical devices, electromechanical assemblies, wire and cable assemblies, printed circuit board assemblies, higher-level assemblies and box builds. Engineering services include design for manufacturing, testing, prototyping, project management, supply chain management, and post-market support. The company has also invested in fiber optic technologies as a component offering.
Revenue Model
Contract manufacturing and engineering services billed on a transactional basis. Customers pay for design, prototyping, production, supply chain management, and post-market services. Revenue is recognized by end market: Medical Imaging ($40.0M, 33.8% of FY2025 net sales), Medical Device ($31.9M, 27.0%), Industrial ($30.9M, 26.1%), and Aerospace and Defense ($15.5M, 13.1%), per the 10-K filed 2026-03-26.
Customers & Markets
End markets are medical imaging, medical devices, industrial, and aerospace and defense. One unnamed customer represented 32.2% of net sales in FY2025 and 27.7% in FY2024. Customer base is described as broad but with material concentration at the top. As of March 12, 2026, there were 563 shareholders of record.
Geographic Exposure
Manufacturing facilities in Minnesota (United States), Monterrey (Mexico), and Suzhou (China), as of December 31, 2025. Corporate headquarters in Maple Grove, Minnesota, with a lease expiring August 2033.
Loading...
