CSP Inc. (CSPI): Lienzo del Modelo de Negocio [Actualizado en Ene-2025]

En el panorama de ciberseguridad en rápida evolución, CSP Inc. (CSPI) surge como un jugador formidable, posicionándose estratégicamente en la intersección de la tecnología de vanguardia y las soluciones de seguridad integrales. Al crear meticulosamente un modelo de negocio robusto que abarca asociaciones estratégicas, ofertas de servicios innovadoras y segmentos de clientes específicos, CSPI ha desarrollado un enfoque dinámico para abordar el entorno de amenaza digital cada vez más complejo. Su propuesta de valor única combina protección de amenazas avanzada, plataformas de seguridad personalizables y servicios de inteligencia proactivos que atienden a corporaciones de nivel empresarial, organizaciones gubernamentales y proveedores de infraestructura crítica, lo que los convierte en una fuerza fundamental para proteger los ecosistemas digitales.

CSP Inc. (CSPI) - Modelo de negocio: asociaciones clave

Alianzas estratégicas con proveedores de tecnología de ciberseguridad

CSP Inc. mantiene asociaciones estratégicas con los siguientes proveedores de tecnología de ciberseguridad:

Pareja	Enfoque de asociación	Año establecido
Palo Alto Networks	Soluciones de seguridad de red	2019
Crowdstrike	Tecnologías de protección de punto final	2020
Fortinet	Plataformas de seguridad integradas	2018

Colaboración con servicio en la nube y compañías de infraestructura

Las asociaciones de servicio en la nube incluyen:

• Servicios web de Amazon (AWS)
• Microsoft Azure
• Plataforma en la nube de Google

Proveedor de nubes	Ingresos de la asociación (2023)	Integración de servicios
AWS	$ 3.2 millones	Soluciones avanzadas de seguridad en la nube
Microsoft Azure	$ 2.7 millones	Marcos de seguridad en la nube híbrida
Google Cloud	$ 1.9 millones	Arquitectura de confianza cero

Asociaciones con organizaciones gubernamentales y del sector de defensa

Las asociaciones gubernamentales y del sector de defensa incluyen:

• Programa de ciberseguridad del Departamento de Defensa (DOD)
• Agencia de Sistemas de Información de Defensa (Disa)
• Departamento de Seguridad Nacional (DHS) Iniciativas de seguridad cibernética

Entidad gubernamental	Valor del contrato (2023)	Servicio principal
Ciberseguridad del DoD	$ 12.5 millones	Detección de amenazas avanzadas
Disa	$ 8.3 millones	Infraestructura de comunicación segura

Acuerdos de revendedor con distribuidores de soluciones de TI

Asociaciones de distribuidor de solución de TI de clave:

Distribuidor	Ingresos anuales de reventa	Categorías de productos
Ingram micro	$ 5.6 millones	Software de ciberseguridad
Datos tecnológicos	$ 4.2 millones	Soluciones de seguridad de red
Escaneta	$ 3.1 millones	Plataformas de seguridad empresariales

CSP Inc. (CSPI) - Modelo de negocio: actividades clave

Desarrollo de software y soluciones de ciberseguridad

CSP Inc. invirtió $ 4.2 millones en I + D para el desarrollo de software de ciberseguridad en el año fiscal 2023. La compañía mantiene un equipo de desarrollo de software de 87 ingenieros que se especializan en tecnologías de ciberseguridad.

Métricas de desarrollo de software	2023 datos
Gastos totales de I + D	$4,200,000
Número de ingenieros de software	87
Nuevos lanzamientos de productos	3 soluciones principales de software

Proporcionar servicios de seguridad administrados

CSP Inc. administra servicios de seguridad para 342 clientes empresariales en múltiples industrias, generando $ 18.7 millones en ingresos por servicios administrados en 2023.

• Base de clientes empresariales: 342
• Ingresos de servicios administrados: $ 18,700,000
• Valor promedio del contrato: $ 54,678

Realización de investigaciones de ciberseguridad y análisis de amenazas

La compañía mantiene un equipo dedicado de inteligencia de amenazas de 45 investigadores de ciberseguridad, analizando aproximadamente 12,000 posibles amenazas de seguridad anualmente.

Métricas de investigación de amenazas	2023 estadísticas
Tamaño del equipo de investigación	45 especialistas
Amenazas analizadas	12,000 amenazas potenciales
Informes de inteligencia de amenazas	276 informes publicados

Implementación de soluciones de infraestructura de seguridad personalizada

CSP Inc. completó 127 proyectos de infraestructura de seguridad personalizadas en 2023, con un valor promedio de proyecto de $ 385,000.

• Proyectos totales de infraestructura personalizada: 127
• Valor promedio del proyecto: $ 385,000
• Ingresos totales de soluciones personalizadas: $ 48,895,000

CSP Inc. (CSPI) - Modelo de negocio: recursos clave

Software y tecnología de ciberseguridad propietaria

CSP Inc. informó 7 patentes de software activas a partir del cuarto trimestre de 2023. La plataforma de ciberseguridad patentada de la compañía cubre 3 dominios tecnológicos distintos.

Tecnología de software	Patentes registradas	Estado de desarrollo
Detección de amenazas avanzadas	3 patentes	Desarrollo activo
Protocolos de seguridad de red	2 patentes	Implementación madura
Protección del punto final	2 patentes	Mejora continua

Equipo experimentado de ingeniería de ciberseguridad

A diciembre de 2023, CSP Inc. empleó a 87 profesionales de ciberseguridad.

• Experiencia promedio de ingeniería: 8.4 años
• Doctor en Filosofía. Titulares: 12 ingenieros
• Profesionales de ciberseguridad certificados: 64

Sistemas avanzados de detección y prevención de amenazas

CSP Inc. mantuvo 3 ubicaciones de centros de datos primarios con una inversión total de infraestructura de $ 4.2 millones en 2023.

Ubicación del centro de datos	Capacidad de infraestructura	Costo de mantenimiento anual
Costa este primaria	Almacenamiento de 250 TB	$ 1.1 millones
Instalación de la costa oeste	Almacenamiento de 180 TB	$850,000
Región central	Almacenamiento de 120 TB	$650,000

Propiedad intelectual y patentes de software

Gastos totales de I + D en 2023: $ 3.7 millones

• Patentes activas: 7
• Aplicaciones de patentes pendientes: 4
• Valor de cartera de patentes estimado en $ 12.5 millones

Fuerte infraestructura técnica y centros de datos

Inversión total de infraestructura técnica: $ 6.9 millones en 2023

Componente de infraestructura	Inversión anual	Especificación tecnológica
Sistemas de seguridad de red	$ 2.3 millones	Firewalls de grado empresarial y detección de intrusos
Infraestructura en la nube	$ 1.8 millones	Implementación de nubes híbridas múltiples
Copia de seguridad y recuperación ante desastres	$ 1.2 millones	Garantía de tiempo de actividad del 99.99%

CSP Inc. (CSPI) - Modelo de negocio: propuestas de valor

Soluciones integrales de ciberseguridad de nivel empresarial

CSP Inc. reportó ingresos por solución de ciberseguridad total de $ 41.6 millones para el año fiscal 2023, que representa un crecimiento año tras año de 12.3% en ofertas de seguridad empresarial.

Categoría de soluciones	Ingresos anuales	Penetración del mercado
Plataformas de seguridad empresariales	$ 22.3 millones	53.6%
Protección avanzada de amenazas	$ 12.7 millones	37.4%
Servicios de gestión de riesgos	$ 6.6 millones	19.2%

Protección de amenazas avanzadas y gestión de riesgos

CSP Inc. detectó y mitigó 4.237 amenazas cibernéticas sofisticadas en 2023, con una tasa de intervención exitosa del 98.6%.

• Precisión de detección de amenazas: 99.2%
• Tiempo de respuesta promedio: 17.3 minutos
• Medidas de seguridad preventiva implementadas: 2,876

Plataformas de seguridad personalizables para diversas necesidades de la industria

CSP Inc. sirve 7 verticales de la industria primaria con soluciones de seguridad cibernética personalizada, generando $ 18.9 millones en ingresos especializados de plataforma específicos de la industria.

De la industria vertical	Soluciones especializadas	Contribución de ingresos
Servicios financieros	24 configuraciones de seguridad personalizadas	$ 6.4 millones
Cuidado de la salud	17 plataformas compatibles con HIPAA	$ 4.2 millones
Gobierno/defensa	12 configuraciones de alta seguridad	$ 3.7 millones

Servicios de inteligencia y monitoreo de amenazas proactivas

CSP Inc. procesó 672,000 eventos de seguridad por hora en las redes de clientes en 2023, con capacidades de inteligencia de amenazas en tiempo real.

• Base de datos de inteligencia de amenazas: 1.4 millones de firmas de amenazas conocidas
• Cobertura de monitoreo global: 42 países
• Precisión de predicción de amenazas de aprendizaje automático: 94.7%

Implementaciones de seguridad rentables

CSP Inc. demostró una reducción de costos promedio del 37% en la infraestructura de seguridad para los clientes en comparación con los enfoques tradicionales de seguridad cibernética.

Métrico de costo	Ahorro promedio de clientes	Escala de implementación
Costos de infraestructura	37% de reducción	246 implementaciones empresariales
Gastos operativos	28% de reducción	189 implementaciones de clientes
Costos de respuesta a incidentes	42% de reducción	167 entornos de seguridad

CSP Inc. (CSPI) - Modelo de negocio: relaciones con los clientes

Soporte técnico dedicado y gestión de cuentas

CSP Inc. proporciona soporte técnico 24/7 con un tiempo de respuesta promedio de 15 minutos. La compañía mantiene un equipo de apoyo de 42 especialistas técnicos dedicados.

Métrico de soporte	Valor
Horas de apoyo anuales	52,560 horas
Calificación promedio de atención al cliente	4.7/5
Canales de soporte	Teléfono, correo electrónico, chat en vivo, sistema de boletos

Servicios de consulta de seguridad y asesoramiento continuos

Servicios de consulta de seguridad son proporcionados por 18 consultores senior de ciberseguridad con un promedio de 12 años de experiencia en la industria.

• Desarrollo de la estrategia de seguridad de nivel empresarial
• Marcos de evaluación de riesgos personalizados
• Guía de cumplimiento regulatorio

Evaluaciones e informes regulares de vulnerabilidad

Tipo de evaluación	Frecuencia	Cobertura
Escaneo de vulnerabilidad de la red	Trimestral	100% de la infraestructura del cliente
Prueba de penetración	By-anualmente	Sistemas críticos
Auditoría de seguridad integral	Anualmente	Ecosistema organizacional completo

Desarrollo de estrategia de seguridad personalizada

CSP Inc. asigna el 35% de los recursos de consultoría para el desarrollo personalizado de la estrategia de seguridad para cada cliente.

Programas de capacitación y transferencia de conocimiento

Categoría de entrenamiento	Participantes anuales	Duración promedio
Conciencia de ciberseguridad	1.245 participantes	8 horas
Gestión de amenazas avanzadas	412 participantes	24 horas
Capacitación de cumplimiento	678 participantes	16 horas

CSP Inc. (CSPI) - Modelo de negocio: canales

Equipo de ventas directas

A partir del cuarto trimestre de 2023, CSP Inc. mantiene un equipo de ventas directo de 42 representantes de ventas a tiempo completo. El equipo generó $ 8.3 millones en ingresos de ventas directas durante el año fiscal 2023.

Métrica del equipo de ventas	2023 datos
Representantes de ventas totales	42
Ingresos de ventas directos	$ 8.3 millones
Ventas promedio por representante	$197,619

Sitio web en línea y plataformas de marketing digital

CSP Inc. genera aproximadamente el 35% de sus ingresos totales a través de canales digitales. El sitio web de la compañía atrae a 127,500 visitantes únicos mensualmente.

• Presupuesto de marketing digital: $ 1.2 millones en 2023
• Tasa de conversión del sitio web: 2.4%
• Ingresos del canal de ventas en línea: $ 6.9 millones

Conferencias tecnológicas y eventos de la industria

En 2023, CSP Inc. participó en 18 conferencias de tecnología, generando $ 2.5 millones en ventas directas relacionadas con eventos.

Participación de eventos	2023 estadísticas
Conferencias totales a las que asistió	18
Ventas relacionadas con eventos	$ 2.5 millones
Leades promedio generados por evento	87

Red de socios y programas de referencia

CSP Inc. ha establecido una red asociada de 64 integradores y revendedores de tecnología. El programa de referencia contribuyó con $ 4.6 millones a los ingresos de la compañía en 2023.

• Miembros de la red total de socios: 64
• Ingresos del programa de referencia: $ 4.6 millones
• Ingresos promedio por socio: $ 71,875

Demostraciones de productos digitales y seminarios web

La compañía realizó 42 demostraciones de productos digitales y seminarios web en 2023, atrayendo a 3.600 participantes totales.

Métrico de seminario web	2023 datos
Total de seminarios web/demostraciones	42
Participantes totales	3,600
Participantes promedio por evento	86

CSP Inc. (CSPI) - Modelo de negocio: segmentos de clientes

Corporaciones de nivel empresarial

CSP Inc. atiende a 127 clientes corporativos de nivel empresarial a partir de 2024, con un valor de contrato anual promedio de $ 842,000. Estas corporaciones abarcan múltiples sectores de la industria, incluidas tecnología, fabricación y telecomunicaciones.

Sector industrial	Número de clientes	Valor de contrato promedio
Tecnología	42	$1,250,000
Fabricación	35	$675,000
Telecomunicaciones	50	$920,000

Organizaciones gubernamentales y de defensa

CSP Inc. ha asegurado 53 contratos gubernamentales y de defensa con un valor de contrato total de $ 76.4 millones en 2024.

• Contratos de la agencia federal: 27
• Contratos gubernamentales a nivel estatal: 18
• Contratos del Departamento de Defensa: 8

Instituciones de servicios financieros

La compañía atiende a 86 clientes de servicios financieros con ingresos anuales agregados de $ 54.3 millones.

Tipo de cliente	Número de clientes	Ingresos promedio por cliente
Bancos regionales	42	$385,000
Empresas de inversión	22	$675,000
Compañías de seguros	22	$450,000

Empresas de salud y tecnología médica

CSP Inc. apoya a 64 clientes de tecnología médica y de salud con valor total del contrato que alcanza $ 41.6 millones en 2024.

• Redes hospitalarias: 28
• Fabricantes de dispositivos médicos: 22
• Proveedores de tecnología de salud: 14

Proveedores de infraestructura crítica

La compañía tiene 39 clientes de infraestructura crítica con un valor contrato anual de $ 62.7 millones.

Sector de infraestructura	Número de clientes	Valor de contrato promedio
Energía	15	$2,100,000
Utilidades	12	$1,850,000
Transporte	12	$1,700,000

CSP Inc. (CSPI) - Modelo de negocio: Estructura de costos

Inversiones de investigación y desarrollo

Para el año fiscal 2023, CSP Inc. asignó $ 4.2 millones a los gastos de investigación y desarrollo, lo que representa el 12.3% de los ingresos totales de la compañía.

Año	Inversión de I + D	Porcentaje de ingresos
2023	$4,200,000	12.3%
2022	$3,850,000	11.7%

Salarios de personal técnico

El gasto salarial de personal técnico para 2023 totalizaron $ 8.7 millones, con una compensación anual promedio de $ 95,600 por empleado técnico.

• Total de personal técnico: 91 empleados
• Rango salarial promedio: $ 85,000 - $ 115,000
• Bonificación y asignación de opciones de acciones: aproximadamente $ 1.2 millones

Infraestructura y mantenimiento de tecnología

Los costos de mantenimiento de infraestructura y tecnología para 2023 fueron de $ 2.9 millones, incluidos servicios en la nube, actualizaciones de hardware y licencias de software.

Categoría de gastos	Costo anual
Servicios en la nube	$1,100,000
Actualizaciones de hardware	$850,000
Licencia de software	$950,000

Gastos de marketing y ventas

Los gastos de marketing y ventas para 2023 alcanzaron los $ 3.6 millones, lo que representa el 10.5% de los ingresos totales de la compañía.

• Presupuesto de marketing digital: $ 1.4 millones
• Gastos de feria y conferencia: $ 650,000
• Compensación del equipo de ventas: $ 1.55 millones

Costos de cumplimiento y certificación

Los gastos de cumplimiento y certificación para 2023 fueron de $ 750,000, que cubren varios requisitos regulatorios específicos de la industria.

Categoría de cumplimiento	Costo anual
Certificación ISO	$250,000
Auditorías regulatorias	$350,000
Cumplimiento legal	$150,000

CSP Inc. (CSPI) - Modelo de negocio: flujos de ingresos

Modelos de licencia de software y suscripción

A partir del año fiscal 2023, CSP Inc. reportó $ 23.4 millones en ingresos por licencia de software. La compañía ofrece modelos de suscripción escalonados con rangos de precios:

Nivel de suscripción	Precio anual	Características
Basic	$1,200	Características de seguridad básicas
Profesional	$3,500	Protección avanzada de amenazas
Empresa	$8,750	Suite de seguridad integral

Contratos de servicio de seguridad administrados

Los contratos de servicio de seguridad administrado generaron $ 41.6 millones en ingresos para CSP Inc. en 2023. Los tipos de contrato incluyen:

• Monitoreo de seguridad 24/7
• Servicios de respuesta a incidentes
• Gestión de seguridad en la nube

Servicios de consultoría e implementación

Los ingresos de consultoría alcanzaron los $ 16.2 millones en 2023, con el desglose del servicio de la siguiente manera:

Categoría de servicio	Ganancia	Duración promedio del proyecto
Arquitectura de seguridad	$ 5.7 millones	3-6 meses
Consultoría de cumplimiento	$ 4.3 millones	2-4 meses
Evaluación de infraestructura	$ 6.2 millones	1-3 meses

Soluciones de detección y respuesta de amenazas

Las soluciones de detección de amenazas contribuyeron con $ 29.8 millones a los ingresos de CSP Inc. en 2023. Las ofertas clave incluyen:

• Análisis de amenazas avanzadas
• Monitoreo de amenazas en tiempo real
• Inteligencia de seguridad predictiva

Programas de capacitación y certificación

Los ingresos por capacitación y certificación totalizaron $ 7.5 millones en 2023, con detalles del programa:

Nivel de certificación	Precio	Duración
Fundamentos de ciberseguridad	$850	2 semanas
Especialista en seguridad avanzado	$2,500	8 semanas
Arquitecto de seguridad empresarial	$5,200	16 semanas

CSP Inc. (CSPI) - Canvas Business Model: Value Propositions

You're looking at what CSP Inc. (CSPI) is actually delivering to its customers right now, late in 2025. It's not just about selling boxes; it's about securing operations and managing the entire technology lifespan.

Advanced Zero Trust security for Operational Technology (OT) via AZT PROTECT™

The value here is specialized, modern security for industrial environments. We see real traction in the High-Performance Products (HPP) segment, which is deploying AZT PROTECT™ to protect things like cell tower visual monitoring systems, as seen in a recent multi-year contract expansion with a South African customer. Management noted the strongest customer order pipeline for AZT PROTECT™ since the product launched, reflecting increasing market awareness. While the HPP segment's product revenue rose 29% to $10.2 million in the third fiscal quarter of 2025 compared to the prior year's Q3, the CEO is signaling that this product is the key to future growth, targeting conversions of existing leads into active proposals across middle-market OT customers. Honestly, the potential here is significant, with the CEO indicating plans to convert existing leads into larger contracts worth six and seven figures over the next 18-24 months.

Here are some recent operational highlights tied to this value proposition:

• Added as a member of the broad-market Russell 3000® Index as part of the 2025 reconstitution.
• New AZT PROTECT™ customer engagements strengthened in the steel, concrete, and lumber industries.
• Expanded AZT PROTECT™ feature set on October 30, 2025, to enable OEM integration for embedded IIoT devices.

Complete IT lifecycle support to achieve expected business outcomes.

This is about being the single partner from start to finish for a client's IT infrastructure. The Technology Solutions (TS) segment explicitly states its value proposition is the ability to support the complete IT life cycle: planning, designing, implementing, and optimizing a comprehensive solution. This is a high-touch service designed to ensure clients hit their specific business targets. The TS segment was the primary revenue driver, growing 20% in the third fiscal quarter of 2025 compared to the same quarter last year, reaching $5.3 million in service revenue for that quarter.

You can see the financial impact of this focus on services versus lower-margin product sales in the table below, comparing the nine-month periods ending June 30, 2025, and June 30, 2024:

Metric (9 Months Ended June 30)	2025 Value	2024 Value
Total Revenue	$44.3 million	$42.2 million
Gross Profit Margin	30% of sales	36% of sales
Net Income (Loss)	$0.1 million	$1.3 million

Managed IT services for 24x365 proactive support and cloud migration.

The market is clearly valuing recurring revenue streams. CSP Inc. (CSPI) Technology Solutions was named the #5 Cloud Computing Company in South Florida by the South Florida Business Journal on November 11, 2025. This recognition speaks directly to the strength of their managed services portfolio. They are actively delivering on cloud migration, evidenced by being selected to deliver a critical Microsoft Azure Project for a Florida-Based Healthcare Provider. The managed services are designed for 24x365 proactive support, which is crucial for digital resilience. Service revenue for the nine months ended June 30, 2025, was $5.3 million in the third quarter alone, showing a slight increase year-over-year, while the overall TS segment saw 20% revenue growth in that same quarter.

The suite of cloud and managed services includes:

• Microsoft CSP Partner services.
• Hosted Unified Communications as a Service (UCaaS).
• Data Backup, Disaster Recovery, and Business Continuity.
• Private Cloud Hosting.
• Cloud Security and Managed Services.

High-Performance Computing (HPC) solutions for complex data analysis in defense.

While the search results don't explicitly detail defense contracts, the HPP segment is the home for HPC solutions, and it is actively involved in securing critical infrastructure internationally, such as the cell tower monitoring systems. The overall company balance sheet remains robust, which supports continued investment in these specialized, high-value product lines. As of June 30, 2025, CSP Inc. (CSPI) held $26.3 million in cash and cash equivalents. The company also declared a quarterly dividend of $0.03 per share payable on September 15, 2025, showing confidence in its financial footing to support specialized product development.

Finance: draft 13-week cash view by Friday.

CSP Inc. (CSPI) - Canvas Business Model: Customer Relationships

You're looking at how CSP Inc. (CSPI) locks in its revenue base, and honestly, it's all about long-term commitments, especially in the services space. The foundation here is building relationships that last, moving beyond one-off product sales.

Dedicated, long-term partnerships and exceptional service commitment

The High Performance Products division explicitly builds its long-term business relationships on strong domain expertise and unrivaled customer support. This commitment is key to retaining the base that buys their specialized networking products. To be fair, the Technology Solutions division also works closely with the world's leading IT software and infrastructure companies to architect solutions for unique customer IT requirements. The company's inclusion in the broad-market Russell 3000® Index, effective June 30, 2025, is viewed as a milestone that should elevate awareness, coinciding with new AZT PROTECT customers.

• Strong domain expertise underpins long-term relationships.
• CSP Inc. is a Microsoft Gold Partner.
• CEO expects contract expansion to six to seven figures over 18-24 months.

Contractual relationships for Managed IT Services (MSP) and cloud-based services

The shift toward recurring revenue is clear in the Technology Solutions (TS) segment. For the fiscal third quarter ended June 30, 2025, TS revenue grew 20% compared to the same prior year quarter. This growth reflects increased demand for cloud-based services. You see this in action with the selection to deliver a critical Microsoft Azure Project for a Florida-based healthcare provider, following multi-year contracts signed in April 2025. CSP Inc. offers a robust portfolio here, including Managed Security, Managed BackUp and Replication, and Cloud services covering Microsoft 365, Azure, Amazon Web Services, and Google Cloud Platform.

Revenue generated from managed services is recognized over the term of the contract. Here's a quick look at the service revenue performance as of the latest reported quarter:

Metric	Value (Q3 FY2025)	Context
Technology Solutions Revenue Growth (YoY)	20%	Reflecting increased cloud-based services demand.
Total Service Revenue	$5.3 million	For the fiscal third quarter ended June 30, 2025.
Total Company Revenue	$15.4 million	For the fiscal third quarter ended June 30, 2025.
Cash and Equivalents (End of Q2 FY2025)	Over $29 million	Supports investment in service growth.

Customer support and maintenance renewals, such as six-figure, 12-month AZT contracts

Retention efforts are directly translating into measurable, high-value renewals for the AZT PROTECT product line. For instance, a global pharmaceutical company renewed twelve months' customer support for AZT PROTECT in a six-figure contract during the fiscal second quarter ended March 31, 2025. This renewal stemmed from a multi-million-dollar deal from the prior year. The company is definitely focused on converting initial sales into these high-margin, recurring support agreements.

Direct sales and consulting engagement for complex IT solutions

Direct engagement secures new logos and expands existing ones through complex solution delivery. The High Performance Products segment broadened its relationship with a South African cell tower customer by signing an additional multi-year contract to deploy AZT PROTECT™ for visual monitoring systems. Also, strengthened reseller relationships, including with Rockwell Automation, led to new AZT PROTECT customer engagements in industries like steel, concrete, and lumber. CSP Inc. signed six new customers during the fiscal second quarter of 2025 alone, showing direct sales efforts are yielding results.

Finance: draft 13-week cash view by Friday.

CSP Inc. (CSPI) - Canvas Business Model: Channels

You're looking at how CSP Inc. (CSPI) gets its offerings-from managed IT to specialized hardware-into the hands of customers. The channel strategy is clearly bifurcated, matching the two operating segments: Technology Solutions (TS) and High Performance Products (HPP).

The Technology Solutions (TS) segment, which includes the wholly-owned subsidiary Modcomp, Inc., relies heavily on a direct engagement model for its professional services and integrated solutions. This direct sales force markets and sells third-party products and professional services through sales offices located in the U.S. and the U.K., where Modcomp, Inc. operates. The effectiveness of this direct channel, combined with cloud-based service growth, is evident in the segment's performance; TS revenue grew by 20% for the fiscal third quarter ended June 30, 2025, compared to the same quarter last year. For that quarter, service revenue, which includes professional services, was $5.3 million.

The High Performance Products (HPP) segment, which includes the AZT PROTECT™ cybersecurity solution, leans more on a partner ecosystem. The strategy here involves a global reseller and distributor network. Management has noted strengthened reseller relationships leading to new AZT PROTECT™ customer engagements in industries like steel, concrete, and lumber during the third fiscal quarter of 2025. Furthermore, there is a stated plan to increasingly direct all future sales, even direct ones, through Rockwell channels to maximize market reach. This channel strategy is critical for HPP, which posted product revenue of $10.2 million in Q3 FY2025, a 29% rise year-over-year.

Digital channels play an important supporting role, especially for market exposure and lead generation for the AZT PROTECT™ offering. For instance, in the fiscal second quarter ended March 31, 2025, greater market exposure was gained via webinars and regional events held by distributors. In the fiscal first quarter ended December 31, 2024, participation in the American Petroleum Institute show resulted in generating approximately 100 leads, which the company was following up on with Rockwell distribution partners. Generally, for B2B marketing, 73% of B2B marketers and sales leaders believe webinars are the best way to generate high-quality leads. The average webinar Cost Per Lead (CPL) is $72, which is significantly lower than the average CPL of $811 at trade shows.

Here's a look at how the revenue streams, which flow through these channels, broke down for the most recent reported quarter:

Revenue Component	Channel Implication	Amount (Q3 FY2025)	Change vs. Prior Year Q3
Total Revenue	Overall Channel Effectiveness	$15.4 million	18% increase
Product Revenue (HPP)	Reseller/Distributor Network Focus	$10.2 million	29% rise
Service Revenue (TS)	Direct Sales Force/Managed Services	$5.3 million	Slight increase

The Technology Solutions division, which includes Modcomp, Inc., is also responsible for selling software licenses and support packages that are renewable on a recurring basis. As of September 30, 2024, recurring revenue represented 17% of total revenue, up from under 5% two years prior, with additional growth expected for fiscal 2025.

The company's ability to service these channels is supported by its balance sheet; as of June 30, 2025, CSP Inc. had cash and cash equivalents of $26.3 million. The Board of Directors declared a quarterly dividend of $0.03 per share payable September 15, 2025, showing continued financial commitment to shareholders while funding operations across these channels.

Finance: draft 13-week cash view by Friday.

CSP Inc. (CSPI) - Canvas Business Model: Customer Segments

You're looking at the customer base for CSP Inc. (CSPI) as of the third quarter of fiscal year 2025, which ended June 30, 2025. The company's structure clearly divides its focus across distinct groups, driving the overall reported revenue of $15.4 million for that quarter.

The Technology Solutions (TS) segment, which handles IT integration and managed services for commercial clients, showed significant traction, with its revenue growing 20% in the third fiscal quarter of 2025 compared to the same quarter last year. This growth reflects strong demand in the commercial space, particularly for cloud-based services. The overall company revenue for the nine months ending June 30, 2025, stood at $44.3 million.

Revenue Component (Q3 FY2025)	Amount	Year-over-Year Growth (Q3 FY2025)
Total Revenue	$15.4 million	18%
Product Revenue	$10.2 million	29%
Service Revenue	$5.3 million	Slight increase

The customer base is segmented by the solutions they require, spanning commercial IT needs to specialized high-performance products (HPP) for critical infrastructure protection.

Commercial enterprises requiring IT integration and managed services (TS segment) form a core part of the business, evidenced by the 20% revenue growth in the TS segment for the third quarter of fiscal 2025. This segment utilizes CSP Inc.'s expertise in areas like data center solutions, network solutions, and managed IT services.

Defense and government customers utilizing HPC and specialized products have historically been a focus for the High-Performance Products (HPP) division, which originated from supporting Department of Defense and Western intelligence agency initiatives. However, direct revenue contribution from the Department of Defense (DoD) was reported as below 1% of total revenue in the fiscal year 2024.

The Operational Technology (OT) market is a key target for the AZT PROTECT cybersecurity solution, which falls under the HPP segment. This focus is driven by reseller relationships and direct engagements:

• Strengthened reseller relationships led to new AZT PROTECT customer engagements in the steel, concrete, and lumber industries.
• The HPP segment broadened its relationship with a South African cell tower customer via a multi-year contract to protect visual monitoring systems.

Niche verticals like maritime commercial and tourism, and healthcare providers are specifically noted as contributors to the TS segment's growth:

• Increased demand from Maritime commercial and tourism customers drove TS segment growth.
• The TS segment was selected by a Florida-Based Healthcare Provider to deliver a critical Microsoft Azure Project.

The company maintained a robust balance sheet as of June 30, 2025, with cash and cash equivalents totaling $26.3 million. This financial position supports ongoing engagement with these diverse customer groups.

Finance: draft 13-week cash view by Friday

CSP Inc. (CSPI) - Canvas Business Model: Cost Structure

You're looking at the core expenses that keep CSP Inc. running, especially as they push the AZT PROTECT™ line. Honestly, the cost structure is heavily weighted toward the products they move, which makes sense given the revenue mix.

For the fiscal third quarter ended June 30, 2025, total revenue hit $15.4 million, with product revenue making up $10.2 million of that total. With a gross profit of only $4.5 million for that quarter, the implied Cost of Goods Sold (COGS) was approximately $10.9 million. This high COGS directly reflects the cost of resold third-party hardware and software, which is a significant chunk of their spending.

Personnel costs are a major fixed component, supporting both the Technology Solutions (TS) and High Performance Products (HPP) segments. As of September 30, 2024, the company employed approximately 111 full time equivalent employees worldwide. These are the specialized engineers, sales staff, and professional services people you need to deliver those managed services and integrate complex solutions.

Investment in the AZT PROTECT™ product line, which is key to their future, is baked into the operating expenses, though specific R&D dollar amounts aren't broken out in the latest reports. The focus on building sales channels for this offering means sales and marketing expenses are definitely elevated to drive adoption in new industries like utility and wastewater treatment.

General and administrative (G&A) expenses and other operating costs are managed across the two segments. The company is clearly focused on maintaining a strong liquidity position to fund these ongoing costs and investments; as of June 30, 2025, cash and cash equivalents stood at $26.3 million.

Here's a look at the revenue split that drives these cost allocations for the most recent reported quarter:

Cost Driver Category	Financial Metric (Q3 FY2025 Ended 6/30/2025)	Financial Metric (Q1 FY2025 Ended 12/31/2024)
Implied COGS (Revenue minus Gross Profit)	$10.9 million	N/A (Gross Margin 29.1%)
Personnel Context (FTEs)	N/A	111 (As of 9/30/2024)
Segment Revenue Contribution (Approximate)	Product Revenue: $10.2 million	Services Revenue: $4.7 million
Segment Revenue Contribution (Approximate)	Service Revenue: $5.3 million	Total Revenue: $15.7 million

The cost structure is clearly sensitive to product sales volume, which is why the gross margin expansion seen in Q1 FY2025 (gross profit of $4.6 million on $15.7 million revenue) is so important to the bottom line, leading to a net income of $0.5 million that quarter.

You can see the operational spending pressure when comparing quarters:

• Fiscal third quarter ended June 30, 2025, reported an operating loss of $1.22 million.
• Fiscal first quarter ended December 31, 2024, generated an operating income (implied by net income of $0.5 million and interest/other income).
• The company declared a quarterly dividend of $0.03 per share in both Q1 and Q3 of fiscal 2025.

Finance: draft 13-week cash view by Friday.

CSP Inc. (CSPI) - Canvas Business Model: Revenue Streams

You're looking at how CSP Inc. (CSPI) actually brings in the money, which is key to understanding its valuation, especially with the shift toward recurring streams. The revenue mix for the third quarter of fiscal year 2025 shows a clear reliance on product sales, though services remain a necessary component.

For the fiscal third quarter ended June 30, 2025, total revenue hit $15.4 million. Here's how that broke down between the two primary sources:

Revenue Type	Q3 FY2025 Amount	Year-over-Year Growth (vs. Q3 FY2024)
Product Revenue (Reselling Third-Party Hardware/Software)	$10.2 million	Up 29% (from $7.8 million in Q3 FY2024)
Service Revenue (Professional/Managed IT/Cloud)	$5.3 million	Slight/Marginal Increase (from year-ago quarter)

The product revenue stream, which involves reselling third-party hardware and software, was the main engine for the 18% total revenue increase in Q3 FY2025. That $10.2 million in product sales was a significant jump, climbing 29% compared to the $7.8 million seen in the year-ago third quarter. Service revenue, covering professional services and managed IT/cloud offerings, was relatively flat at $5.3 million for the quarter, showing only a slight increase compared to the fiscal 2024 third quarter.

A critical part of the long-term strategy involves proprietary sales, specifically the AZT PROTECT™ security software and the High-Performance Products (HPP) segment which includes network adapters. Momentum here is building, as evidenced by new customer engagements in the steel, concrete, and lumber industries, plus an expansion of the relationship with a South African cell tower customer involving multi-year deployment of AZT PROTECT™ for visual monitoring systems. The HPP segment experienced a sharp revenue plunge in Q2 FY2025, largely due to the non-recurrence of a large ARIA AZT PROTECT order from the prior year, but the pipeline for AZT PROTECT™ is reported as the strongest since its introduction.

You can't ignore the stability that comes from recurring income. For the full fiscal year 2024, recurring revenue from managed services and annual customer support contracts accounted for approximately 17% of the total revenue. Given that full-year FY2024 revenue was $55.2 million, that translates to about $9.384 million in more predictable, recurring top-line support for the business model.

The revenue streams can be summarized by their sources:

• Product revenue from reselling third-party hardware/software, totaling $10.2 million in Q3 FY2025.
• Service revenue from professional services and managed IT/cloud services, totaling $5.3 million in Q3 FY2025.
• Sales of proprietary security software (AZT PROTECT™) and network adapters (HPP segment).
• Recurring revenue from managed services and annual customer support contracts (approx. 17% of FY2024 revenue).

Finance: draft 13-week cash view by Friday.