OPTX
Syntec OpticsCDocument history
Earnings documents stored for OPTX.
Investor releaseQuarter not tagged2026-05-25Syntec Optics Holdings Inc (OPTX) Q1 2026 Earnings Call Highlights: Transformational Public ...
GuruFocus.com
Syntec Optics Holdings Inc (OPTX) Q1 2026 Earnings Call Highlights: Transformational Public ...
This article first appeared on GuruFocus. Release Date: May 18, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Syntec Optics Holdings Inc (NASDAQ:OPTX) completed a transformational public offering, significantly strengthening its balance sheet with approximately $23 million of gross proceeds. The company achieved a major milestone in March 2026 by delivering quadruple the number of satellite optics products compared to March 2025. Syntec Optics Holdings Inc (NASDAQ:OPTX) successfully produced a design and manufacturing plan for micro cameras to support a decade-long product modernization effort by the U.S. Department of War. Operational efficiencies and cost reduction initiatives were implemented, intended to improve throughput, scalability, gross margin, and EBITDA performance over the long term. The company maintained access to a $7.5 million revolving credit facility, providing additional liquidity to support working capital and future growth opportunities. First quarter revenue decreased to approximately $6.5 million from $7.1 million in the same quarter of the prior year, primarily due to temporary shipment delays. Gross profit for the quarter was approximately $1 million, down from $2.3 million during the prior year same period, impacted by lower production volumes. Net loss for the quarter was approximately $900,000, compared to net income of $300,000 during the first quarter of 2025. Cash at quarter end was approximately $600,000, indicating limited liquidity before the public offering. The company faced temporary shipment timing delays and prolonged holiday shutdowns, impacting first-quarter performance. Warning! GuruFocus has detected 5 Warning Sign with OPTX. Is OPTX fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on the impact of shipment timing delays on Q1 2026 financial results? A: Dean Rudy, CFO: The first quarter financial results were affected by temporary shipment timing delays, particularly in the biomedical end market due to purchase order revisions. However, shipments normalized in April, and we expect sequential improvement in Q2 and further strengthening in Q3 as new programs ramp up production. Q: How did the recent public offering affect Syntec Optics' financial position? A: Paul Opella, Controller: The public offering generated approximate...
Investor releaseQuarter not tagged2026-05-21Syntec Optics Incurs Q1 Loss, Shipment Delays Hit Results
Zacks
Syntec Optics Incurs Q1 Loss, Shipment Delays Hit Results
Shares of Syntec Optics Holdings, Inc. OPTX have gained 18% since the company reported results for the quarter ended March 31, 2026, outperforming the S&P 500 index’s 2.1% decline over the same period. However, the stock has struggled over the past month, falling 17.9% compared with the S&P 500’s 3.7% gain. Syntec Optics incurred a first-quarter 2026 net loss of 2 cents per share against a net income of 1 cent per share in the prior-year period. Revenues of $6.5 million indicated a decline from $7.1 million in the year-ago quarter, reflecting a decline of roughly 8%. Gross profit fell sharply to $1 million from $2.3 million a year earlier. The company incurred a net loss of $0.9 million against a net income of $0.3 million in the prior-year period. Selling, general and administrative expenses declined modestly to $1.7 million from $1.8 million last year. Syntec Optics Holdings, Inc. price-consensus-eps-surprise-chart | Syntec Optics Holdings, Inc. Quote Management attributed the weaker quarter primarily to temporary shipment timing delays tied to biomedical end-market purchase orders. According to the company, the delays resulted from requested changes intended to improve production efficiency. Syntec said updated purchase orders were received after the quarter closed, with shipments returning to normalized levels beginning in April. Gross margin was also hurt by a roughly $1 million reduction in production volume during January, which increased the fixed manufacturing overhead absorption rate. Management noted that the lower production level was partially linked to an extended two-week holiday shutdown carried over from the prior quarter. Despite these pressures, the company said direct labor and material costs remained relatively stable as a percentage of revenue, reflecting continued operational discipline. Syntec continued implementing operational efficiency and cost-reduction measures during the quarter, targeting improvements in throughput, manufacturing scalability, gross profit and EBITDA performance. The company reported yield and throughput gains across several strategic programs, including low Earth orbit satellite optics, night vision optics, micro-cameras and display windows for artificial intelligence AR/VR glasses, and AI/data center optics. The company also expanded production staffing and operational infrastructure selectively during the qua...
TranscriptFY2026 Q12026-05-18FY2026 Q1 earnings call transcript
Earnings source - 17 paragraphs
FY2026 Q1 earnings call transcript
Good day, welcome to the Syntec Optics Holdings Inc. First Quarter 2026 Earnings Conference Call. At this time, all participants are in a listen-only mode. Please note that today's call is being recorded and will be available for replay on the company's website at www.syntecoptics.com. Before we begin, please note that today's discussion includes forward-looking statements within the meaning of the federal securities laws. These statements are based on current expectations and involve risks and uncertainties that may cause actual results to differ materially. For a discussion of these risks, please refer to our filings with the Securities and Exchange Commission, including our Form 10-K and Form 10-Q filings. Syntec Optics undertakes no obligation to update any forward-looking statements, except as required by law. Joining us today are Dean Rudy, Chief Financial Officer, and Paul Opella, Controller of Syntec Optics.
I will now turn the call over to Dean Rudy.
Thank you, operator, and good afternoon, everyone. We appreciate everyone joining us today to discuss Syntec Optics' Q1 2026 results and recent strategic developments. While our Q1 financial results reflected temporary shipment timing delays associated with biomedical end-market purchase order revisions, we believe the quarter also demonstrated continued operational progress and positioned the company for stronger performance moving forward. Importantly, subsequent to quarter end, we completed a transformational public offering, which significantly strengthened our balance sheet. We believe the company's achievement of the capital raise milestone enabled the optimization of the capital structure and provided additional flexibility to acquire or invest in complementary businesses, technologies, products, or assets, as well as for working capital and capital expenditures. Operationally, we continued executing across several important strategic growth markets, including defense tech display windows for artificial intelligence, AR/VR glasses for our soldiers.
First set of production built orders were delivered on time, and the company is now adding more ballistic windows. AI data center optics. We continued production of the initial builds with our micro optic splitter/combiner, light pipe, and cover to support the growing needs for connectors in hyperscale expansion of data centers. Space and LEO satellite optics. In March 2026, we achieved a major milestone celebrated across the company to deliver quadruple as compared to March 2025, the number of satellite optics product we launched two years ago. microcameras for U.S. soldiers' AI, AR, VR systems. We successfully produced a design and manufacturing plan to support a decade-long product modernization effort by the U.S. Department of War.
First sets of product will roll out in Q2 and Q4 of this year, requiring all of our capability and depending on our one of its kind capabilities in the U.S. Biomedical optics. We successfully retooled production and realigned our supply chain for continued improvement efforts. We also continued implementing operational efficiencies and cost reduction initiatives intended to improve throughput, scalability, gross margin, and EBITDA performance over the long term. Although first quarter revenue was impacted by temporary timing delays and prolonged holiday shutdown of unusual Christmas and New Year falling middle of two different weeks, shipments normalized beginning in April, and we currently expect sequential improvement in Q2 and additional strengthening into Q3 as recently launched programs continue ramping production to higher than $7.5 million in net sales previously announced.
Before discussing the strategic positioning of the company and the significance of the recent public offering, I'll turn the call over to Paul Opella to review the quarter's financial results in greater detail.
Thank you, Dean, and good afternoon, everyone. Revenue for the first quarter of 2026 was approximately $6.5 million, compared to approximately $7.1 million in the same quarter of the prior year. As Dean previously mentioned, the decrease was primarily attributable to temporary shipment delays associated with biomedical purchase order revisions requested by Syntec so as to be in line with our continuous improvement efforts. Importantly, subsequent to quarter end, the company has received updated purchase orders, and shipments have returned to normal levels beginning in April 2026. Gross profit for the quarter was approximately $1 million, compared to approximately $2.3 million during the prior year same period. Gross margin performance was primarily impacted by lower production volumes during the quarter, which reduced the absorption of fixed manufacturing overhead costs.
Direct labor and material costs remained generally stable as a percentage of revenue, reflecting continued operational discipline across our core manufacturing operations. Selling, general, and administrative expenses were approximately $1.7 million for the quarter, an improvement when compared to approximately $1.8 million in the same period prior year quarter. The company continued implementing cost containment and operational efficiency initiatives intended to support long-term profitability improvement. Net loss for the quarter was approximately $900,000, or a loss of $0.02 per diluted share, compared to net income of approximately $300,000, or $0.01 per diluted share, during the first quarter of 2025. Despite the temporary shipment delays during the quarter, the company generated approximately a half million dollars of positive cash flow from operating activities during Q1 2026.
Cash at quarter end was approximately $600,000, and total liquidity, including availability under the company's revolving line of credit, was approximately $1.3 million as of March 31st, 2026. As previously stated, subsequent to quarter end, the company completed a public stock offering that generated approximately $23 million of gross proceeds, including the execution of the underwriter's greenshoe option the very next day, significantly strengthening the company's liquidity profile and balance sheet. Following the offering, the company paid down its revolving line of credit balance to zero. We maintained access to the full $7.5 million revolving credit facility to be used as needed, and we extended the maturity of the facility to June 2027. As a result of the above optimization, going forward, there are no leverage or fixed charge coverage covenant requirements.
Management believes these actions substantially improve the company's financial flexibility while reducing ongoing interest expense. I will now turn the call back over to Dean Rudy.
Thank you, Paul. From an operational standpoint, we continued making meaningful progress during the quarter despite the temporary shipment timing disruption. We achieved continued yield and throughput improvements across several strategic production programs, including LEO satellite laser optics, night vision optics, integrated optical assemblies, and AI data center optic connectors. We also continued selective investments in staffing, manufacturing infrastructure, and production scalability intended to support anticipated growth beginning in the second quarter and accelerating through the remainder of 2026. Several customer programs also continued progressing from initial launch volumes into larger production manufacturing volumes, strengthening our future revenue pipeline. Importantly, we believe Syntec is well-positioned at the intersection of several powerful long-term technology and defense trends.
AI defense infrastructure expansion, data center optic demand growth, space and satellite optics systems growth, defense supply chain onshoring due to optical system-specific call-out and NDAA passed by the House and Senate and signed into law by the President, finally, precision optical manufacturing trends within the United States. We continue to see increasing opportunities associated with domestic sourcing initiatives and mission-critical optical manufacturing requirements across defense and advanced space and data center applications. Public offering and liquidity transformation. I'd now like to spend a few minutes discussing the successful completion of our public offering and why we believe this was a very important milestone for Syntec. The offering generated approximately $21.5 million of net proceeds and materially strengthened the company's balance sheet and liquidity position. We believe the transaction creates several important long-term benefits for the company. First, reduced financial risk.
We reduced our revolving line of credit balance to zero, significantly lowering ongoing interest expense and improving overall financial flexibility. At the same time, we maintained access to the full $7.5 million revolving credit facility, giving the company additional availability, available liquidity to support working capital and future growth opportunities. Second, improved strategic flexibility. The strengthened liquidity profile allows Syntec to support larger production ramps, fund strategic capital expenditures, expand operational scalability, pursue more organic growth initiatives, and evaluate potential inorganic growth opportunities where appropriate. Third, enhanced customer positioning. In many of our end markets, we serve defense tech, space tech customers that value financially stable domestic manufacturing partners capable of scaling alongside their long-term programs with added technology and facilities through add-on acquisitions for future newer product lines. We believe the strengthened balance sheet enhances our positioning with both existing and prospective customer bases.
Fourth, long-term growth infrastructure. The capital raise allows us to continue investing in advanced manufacturing capabilities, operational efficiency improvements, capacity expansion, process automation, talent acquisition, and strategic optical technologies. We believe these investments can support long-term revenue growth and future EBITDA expansion. Overall, while Q1 reflected temporary shipment timing variability, we believe the underlying operational trends, improving production activity, expanding strategic programs, and significantly strengthened balance sheet position the company well for the remainder of 2026 and beyond. Outlook. Looking ahead, management currently expects Q2 2026 net sales to improve sequentially from Q1 levels and to be $7.5 million-$8.5 million. Q3 2026 net sales to strengthen further as recently launched programs continued ramping production.
Growth drivers for 2026 are expected to include continued expansion of AI and data center optics, increased defense-related optics production and expansion with a major new defense customer, growth in space and LEO satellite optics, conversion of additional design stage programs into production revenue, ongoing operational efficiency and cost reduction initiatives. We remain focused on improving operational execution, expanding gross profit, increasing EBITDA performance, strengthening long-term shareholder value, identifying targets to acquire or invest in complementary businesses, technologies, products, or assets, as well as for working capital and capital expenditures. We intend to have a more detailed press release on how Syntec is also working on the next frontier. Product strategy of implementing scalability of production for technologies of today and simultaneously investing efforts in deep tech of tomorrow continues to be advantageous.
Today's scalable tech of LEO satellite laser optics, AI, AR/VR display windows, microcameras, and AI data center optic connectors started with a breakthrough five years ago. With that, I'll turn the call back over to the operator.
Thank you, Dean and Paul, for your comments today. Should you have any questions regarding our earnings results or strategic initiatives, please contact investor relations at [email protected]. Thank you for joining us today, and have a great evening.
Investor releaseQuarter not tagged2026-05-16Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports First Quarter 2026 Results and Strengthened Post-Quarter Balance Sheet
GlobeNewswire
Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports First Quarter 2026 Results and Strengthened Post-Quarter Balance Sheet
ROCHESTER, NEW YORK, May 15, 2026 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec” or the “Company”), a leading provider of advanced optics and photonics solutions across defense, biomedical, communications, and consumer markets, today reported financial results for the first quarter ended March 31, 2026. Management Commentary “Our first quarter results were impacted by temporary timing delays of shipments to biomedical end markets, due to purchase order revisions. However, operational execution remained solid, and shipments normalized beginning in April,” stated Dean Rudy, Chief Financial Officer of Syntec Optics. “We continued executing operational efficiency and cost reduction initiatives while advancing multiple strategic growth programs across defense tech and space tech markets.” Mr. Rudy continued, “Subsequent to quarter end, we significantly strengthened our balance sheet and liquidity position through the successful completion of our public offering. We believe the additional $23 million of capital, including next-day execution of green shoe, combined with pay down of our revolving line of credit balance to zero while maintaining continued access to the facility, positions the Company to support future growth opportunities and operational scale improvements.” Q1 2026 Financial Results Revenue Q1 2026 revenue was $6.5 million, compared to $7.1 million in Q1 2025. The decrease was primarily attributable to temporary shipment timing delays related to a biomedical end-market purchase order, resulting from Syntec's requested changes to improve production efficiency. The Company received updated purchase orders subsequent to quarter-end, and shipments returned to normalized levels beginning in April 2026. Gross Profit Gross profit for Q1 2026 was $1.0 million, compared to $2.3 million in Q1 2025. Gross margin was impacted primarily by a $1 million reduction in production volume in January, which led to a higher fixed manufacturing overhead absorption rate. Some of this lower production was also affected by the extended two-week holiday shutdown at the end of the previous quarter, which the Company intends to better manage going forward. Direct labor and material costs remained generally stable as a percentage of revenue, reflecting continued operational discipline across core manufacturing processes. During the quarter, the Compan...
Investor releaseQuarter not tagged2026-05-15Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
GlobeNewswire
Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
ROCHESTER, NEW YORK, May 15, 2026 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a leading provider of technology products to defense, biomedical, communications, and consumer end-market leaders, today announced it will host a conference call to discuss its financial results and provide a business update on Monday, May 18, 2026, at 5:00 p.m. Eastern Time (ET). Conference Call Details: Date: Monday, May 18, 2026 Time: 5:00 p.m. ET Register in Advance (Required): https://us06web.zoom.us/meeting/register/8Bl1W5PRTNuZAf-bxeWh6w (After registering, you will receive a confirmation email containing information about joining the meeting.) Webcast: A recording of the conference call will be available under the Latest Events section on the Investors page of Syntec Optics’ website at www.syntecoptics.com. Replay: A replay of the webcast will be available approximately three hours after the call concludes. It will remain accessible until Monday, June 1, 2026, in the Investor Relations section of Syntec Optics’ website at www.syntecoptics.com. About Syntec Optics Syntec Optics Holdings, Inc. (Nasdaq: OPTX), headquartered in Rochester, NY, is one of the largest custom and diverse end-market optics and photonics manufacturers in the United States. Operating for over two decades, Syntec Optics runs a state-of-the-art facility with extensive core capabilities of various optics manufacturing processes, both horizontally and vertically integrated, to provide a competitive advantage for mission-critical OEMs. As more products become light-enabled, Syntec Optics continues to add new product lines, including recent Low Earth Orbit (LEO) satellite optics for communications, lightweight night-vision goggle optics for defense, biomedical optics for diagnostics and surgery, and data center optics for Artificial Intelligence. According to SPIE, across the entire field of optics and photonics, the monetary value of all light-enabled products and related services amounts to over 15% of worldwide economic output (nearly $16 trillion of the total $106 trillion value of all finished goods and services produced worldwide in 2023). To learn more, visit www.syntecoptics.com. Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform...
Investor releaseQuarter not tagged2026-04-06Syntec Optics Holdings Inc (OPTX) Q4 2025 Earnings Call Highlights: Revenue Growth and ...
GuruFocus.com
Syntec Optics Holdings Inc (OPTX) Q4 2025 Earnings Call Highlights: Revenue Growth and ...
This article first appeared on GuruFocus. Release Date: April 01, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue for Q4 2025 increased by 2.5% compared to the same quarter in the previous year, driven by growth in low Earth orbiting satellite-related production and defense-related precision glass molding. Gross margin for Q4 2025 more than doubled compared to the previous quarter, with an 80% increase over the prior year quarter, due to improved production yields and cost reductions. SG&A expenses decreased significantly by 30% sequentially and 40% compared to the prior year, reflecting effective cost management. Adjusted EBITDA for Q4 2025 increased by nearly $1 million compared to both the same quarter prior year and the previous quarter, indicating improved profitability. The company has launched new product lines in defense tech and AI data center optics, which are expected to drive future growth and profitability. Full year 2025 net sales were down by $0.4 million compared to 2024, indicating a slight decline in overall sales performance. Earnings per share remained negative at -$0.05 for 2025, although improved from -$0.07 in 2024, still reflecting a lack of profitability. Q1 2026 net sales are expected to be below Q4 2025 levels, suggesting potential short-term revenue challenges. Cash, including available line of credit, was relatively low at $1.1 million, which may limit financial flexibility. The company faces risks and uncertainties related to forward-looking statements, as highlighted in their SEC filings, which could impact future performance. Is OPTX fairly valued? Test your thesis with our free DCF calculator. Q: Can you elaborate on the factors contributing to the significant improvement in gross margin for Q4 2025? A: Dean Rudy, CFO, explained that the gross margin for Q4 2025 saw significant expansion due to reductions in material and labor costs, which reflected improved production yields. This was a result of enhanced operational execution and cost discipline across the company. Q: What are the key drivers behind the expected sales fluctuations in Q1 and Q2 of 2026? A: Dean Rudy, CFO, noted that Q1 2026 net sales are expected to be below $7.5 million, while Q2 2026 net sales are anticipated to be above $7.5 million. This fluctuation is driven by the ramp-up of space optics...
Investor releaseQuarter not tagged2026-04-01Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Fourth Quarter and Full Year 2025 Results
GlobeNewswire
Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Fourth Quarter and Full Year 2025 Results
Margin Expansion and Cost Reduction lead to Growth in Adj EBITDA ROCHESTER, NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec” or the “Company”), a leading provider of technology across defense, biomedical, communications, and consumer end-markets, today reported that the previously announced Company’s focus on operations efficiency had a positive impact on financial results for the fourth quarter and full year ended December 31, 2025. Q4 2025 Highlights Gross margin saw significant expansion, nearly doubling compared to the same-year previous quarter and prior-year quarter (Gross Margin for Q4 2024 was 13%, Q3 2025 was 12%, and Q4 2025 was 24%). Gross profit also saw significant improvement, increased 100% sequentially and increased 80% compared to the prior year (Gross Profit for Q4 2024 was $1 million, Q3 2025 was $0.9 million, and Q4 2025 was $1.8 million). SG&A expense also saw significant improvement, decreased 30% sequentially and decreased by 40% compared to the prior year (SG&A expense for Q4 2024 was $2.4 million, Q3 2025 was $2.1 million, and Q4 2025 was at $1.5 million). As a result of the above improvements, Adj EBITDA increased by nearly $1 million (Adj EBITDA for Q4 2024 was $0.5 million, Q3 2025 was negative $0.01 million, and Q4 2025 was $0.9 million). These improvements in the fourth quarter were achieved on Net Sales of $7.5 million, an increase of 8% from Q3 2025, and similar to Q4 2024 Net Sales. Results for the year-end followed a similar path, reflecting enhanced yields, cost discipline, and operational execution. Full Year 2025 Highlights Gross margin increased by 3.3% as compared to the prior year (Gross Margin for full year 2024 was 20%, full year 2025 was 23.3%). Gross profit increased by 13% as compared to the prior year (Gross Profit for full year 2024 was $5.7 million, and full year 2025 was $6.5 million). SG&A expense decreased by $1.2 million as compared to the prior year (SG&A for full year 2024 was $8.2 million, and full year 2025 was $7.0 million). Adj EDITDA also saw significant improvement, increased by 36% versus the prior year (Adj EBITDA for full year 2024 was $2.2 million, and full year 2025 came in at $3.0 million). These improvements for the full year were achieved even with Net Sales of $28.1 million, down $0.4 million from full year 2024. As a result of the improveme...
TranscriptFY2025 Q42026-04-01FY2025 Q4 earnings call transcript
Earnings source - 23 paragraphs
FY2025 Q4 earnings call transcript
Good day, and welcome to the Syntec Optics Holdings, Inc. fourth quarter and full year 2025 earnings conference call. At this time, all participants are in a listen-only mode. Please note that today's call is being recorded and will be available for download later from the company's website, www.syntecoptics.com.
Before we begin, please note that today's discussion will include forward-looking statements within the meaning of the federal securities laws. These statements are based on current expectations and involve risk and uncertainties that may cause actual results to differ materially.
For a discussion of these risks, please refer to our filings with the Securities and Exchange Commission, including our Form 10-K and Form 10-Q filings. Syntec Optics undertakes no obligation to update any forward-looking statements. Joining us today are Dean Rudy, Chief Financial Officer, and Al Kapoor, Chief Executive Officer of Syntec Optics. I will now turn the call over to Dean Rudy. Dean, please go ahead.
Thank you, operator, and good day everybody as well. We appreciate you joining us today to discuss Syntec's fourth quarter and full year 2025 results. Before we begin, I would like to remind everyone that today's discussion contains forward-looking statements subject to risk and uncertainties, which are described in our SEC filings.
Financial overview of Q4 of 2025. Revenue for the quarter of $7.5 million was up $0.2 million or 2.5% over prior year same quarter and was up $0.6 million over the same year previous quarter. Sales were up over both comparative periods for our low Earth orbiting satellite-related production, our defense-related precision glass molding, and our biomedical-related products.
Gross margin for the quarter of $1.8 million saw significant expansion, more than doubling compared to the same year previous quarter and increasing 80% over the prior year quarter. Reductions in materials and labor costs reflected improved production yields.
SG&A expense also saw significant improvement, decreasing 30% sequentially and decreasing by 40% compared to the prior year. SG&A expense for Q4 2024 was $2.4 million, Q3 2025 was $2.1 million, and Q4 2025 was $1.5 million.
As a result of the above improvements, Adjusted EBITDA of $0.9 million increased by nearly $1 million versus both same quarter prior year and same year previous quarter. Results for the year-end followed a similar path, reflecting enhanced yields, cost discipline, and operational execution. Full year 2025 highlights.
Gross margin increased by 3.3 percentage points from 20.0% to 23.3%, driven by continuous improvement and efficiency projects. These improvements drove a 13% increase in gross profit from $5.7 million to $6.5 million. SG&A expense of $7.0 million decreased by $1.2 million as compared to the prior year.
Improvements included reductions in insurance expenses, outside services and consultants, as well as cost economizing across all categories. Adjusted EBITDA also saw significant improvement. It increased by 37% versus the prior year. These improvements for the full year were achieved even with net sales of $28.1 million, which was down $0.4 million from full year 2024.
As a result of the improvements above, earnings per share of -0.05 in 2025 improved from -0.07 in 2024. Cash provided by operations increased to $0.7 million for the year and was used for facility improvements and equipment. Cash, including available line of credit, was $1.1 million. Near-term guidance.
Compared to Q4 2025 net sales of $7.5 million, Q1 2026 net sales are expected to be below $7.5 million, and Q2 2026 net sales are expected to be above $7.5 million. 2026 started with space optics production increases to a record level, the beginning of the production stage for an artificial intelligence data center product line, and the previously announced addition of a new product in defense tech.
Additionally, product lines for defense tech are anticipated to add net sales in Q2 and beyond. Overall, we believe the fourth quarter reflects a clear inflection point in both execution and profitability, and we are entering 2026 with improved momentum with space optics, launch of new product lines in defense tech, and going into initial production runs on AI data center optics. With that, I'll turn the call over to our CEO, Al Kapoor.
Thank you, Dean. Good day, everyone. As Dean mentioned, while 2024 and parts of 2025 reflected some operational inconsistencies, the fourth quarter marked a clear turning point for the company. We are now seeing the results of improved manufacturing execution, better cost structure alignment, and growing pipeline of programs transitioning into production. Let me provide you a few comments about defense tailwinds.
We are seeing positive momentum in defense tech. Recent developments, including the four-year 2026 Defense Authorization Act, are driving a structural shift towards domestic sourcing of optical systems specifically. This legislation effectively requires defense contractors to map supply chains, eliminate reliance on adversary nations, and transition to U.S.-based suppliers by 2030.
Let me switch to talking about operational execution that has been mentioned. Yields and throughput improvements across key programs, including LEO satellite optics, night vision optics, integrated optical systems, all continue.
Night shift staffing expanded to support scalable production capacity. Multiple programs advanced from design to pilot to initial production. Ongoing cost reduction initiatives contributed to margin expansion. Let me describe to you our value creation methodologies we are using in execution.
Syntec has developed a methodology called Work Center Focused Effort, which delivers higher profitability from organic growth. Also another methodology called Macro Societal View or MSV, which is effective in our selection criteria for potential business combinations for inorganic growth. The company intends to use these methodologies to continue build the business organically as well as inorganically going forward.
WCFE, which was the Work Center Focused Effort, involves execution of factors including Gemba walk charts for daily batch sizes and inventory buffers for product flow monitoring by the work center, daily technician allocations and effort assessments by work center, daily cost of poor quality and in-process inspection measurements, daily cost savings mapping for cost containment, and alignment of daily goals to meet monthly goals.
This has created significant improvement. The MSV methodology for inorganic growth that I mentioned involves assessment of business combination possibilities based on the following factors, like science being used, chosen technology concept, business models deployed, regulatory environment, positive social transformation. Finally, let me provide you a few comments on 2026 outlook that Dean mentioned.
Syntec expects growth in 2026, which is supported by ramp-up of next generation space and AI data center optics products, expansion in defense tech programs driven by onshoring tailwinds, steady growth across biomedical and consumer end markets, and conversion of design stage programs into production revenue.
In summary, the fourth quarter demonstrated a clear improvement in execution and profitability, and our positioning across defense, AI, and space optics gives us opportunity to serve the society and puts us on a growth trajectory. We are encouraged by the progress we've made and excited about the opportunities ahead. With that, I will hand it back to the operator.
Thank you, Al and Dean, for your comments today. Should you have any questions regarding our earnings or initiatives, please email our investor relations at [email protected]. That's investorrelations, one word, @syntecoptics.com. Thank you for joining us, and have a great day.
Investor releaseQuarter not tagged2026-03-31Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
GlobeNewswire
Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
ROCHESTER, NEW YORK, March 31, 2026 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a leading provider of technology products to defense, biomedical, communications, and consumer end-market leaders, today announced it will host a conference call to discuss its financial results and provide a business update on Wednesday, April 1, 2026, at 5:00 p.m. Eastern Time (ET). Conference Call Details: Date: Wednesday, April 1, 2026 Time: 5:00 p.m. ET Register in Advance (Required): https://us06web.zoom.us/meeting/register/-w88yaJdQoSLqm7BYQZQ1A (After registering, you will receive a confirmation email containing information about joining the meeting.) Webcast: A recording of the conference call will be available under the Latest Events section on the Investors page of Syntec Optics’ website at www.syntecoptics.com. Replay: A replay of the webcast will be available approximately three hours after the call concludes. It will remain accessible until Wednesday, April 15, 2026, in the Investor Relations section of Syntec Optics’ website at www.syntecoptics.com. About Syntec Optics Syntec Optics Holdings, Inc. (Nasdaq: OPTX), headquartered in Rochester, NY, is one of the largest custom and diverse end-market optics and photonics manufacturers in the United States. Operating for over two decades, Syntec Optics runs a state-of-the-art facility with extensive core capabilities of various optics manufacturing processes, both horizontally and vertically integrated, to provide a competitive advantage for mission-critical OEMs. As more products become light-enabled, Syntec Optics continues to add new product lines, including recent Low Earth Orbit (LEO) satellite optics for communications, lightweight night-vision goggle optics for defense, biomedical optics for diagnostics and surgery, and data center optics for Artificial Intelligence. According to SPIE, across the entire field of optics and photonics, the monetary value of all light-enabled products and related services amounts to over 15% of worldwide economic output (nearly $16 trillion of the total $106 trillion value of all finished goods and services produced worldwide in 2023).To learn more, visit www.syntecoptics.com. Forward-Looking Statements This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Lit...
Investor releaseQuarter not tagged2025-11-15Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
GlobeNewswire
Syntec Optics (Nasdaq: OPTX) to Host Conference Call to Discuss Financial Results and Business Update
ROCHESTER, NEW YORK, Nov. 14, 2025 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a leading provider of technology products to defense, biomedical, communications, and consumer industry leaders, today announced it will host a conference call to discuss its financial results and provide a business update on Tuesday, November 18, 2025, at 5:00 p.m. Eastern Time (ET). Conference Call Details: Date: Tuesday, November 18, 2025 Time: 5:00 p.m. ET Register in Advance (Required): https://us06web.zoom.us/meeting/register/Fot1v-JNS7ORYQzKBJytaA (After registering, you will receive a confirmation email containing information about joining the meeting.) Webcast: A recording of the conference call will be available under the Latest Events section on the Investors page of Syntec Optics’ website at www.syntecoptics.com. Replay: A replay of the webcast will be available approximately three hours after the call concludes. It will remain accessible until Wednesday, December 17, 2025, in the Investor Relations section of Syntec Optics’ website at www.syntecoptics.com. Third Quarter 2025 Financial Highlights Net Sales of $7.0 million increased by 6% over the second quarter. Volume increases on key product lines were driven by successful yield and efficiency improvements. Adjusted EBITDA for September 30th, 2025, year-to-date was $2.1 million as compared to $2.2 million for the prior year. The third-quarter Adjusted EBITDA of nearly zero was adversely affected by investments in direct labor and related overhead to drive delivery and quality improvements for our customers. The company anticipates increased sales and margins from these efforts in the following quarters. About Syntec Optics Syntec Optics Holdings, Inc. (Nasdaq: OPTX), headquartered in Rochester, NY, is one of the largest custom and diverse end-market optics and photonics manufacturers in the United States. Operating for over two decades, Syntec Optics runs a state-of-the-art facility with extensive core capabilities of various optics manufacturing processes, both horizontally and vertically integrated, to provide a competitive advantage for mission-critical OEMs. As more products become light-enabled, Syntec Optics continues to add more product lines, including recent Low Earth Orbit (LEO) satellite optics for communication, lightweight night vision goggle optics...
Investor releaseQuarter not tagged2025-11-14Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Third Quarter 2025 Financial Results
GlobeNewswire
Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Third Quarter 2025 Financial Results
Continues sequential revenue growth ROCHESTER, NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a leading provider of technology products to defense, biomedical, communications, and consumer industry leaders, today reported financial results for the third quarter of 2025. Third Quarter 2025 Financial Highlights Net Sales of $7.0 million increased by 6% over the second quarter. Volume on key product lines increased as we successfully implemented yield and efficiency improvements. Improvements were significant across LEO Satellite Optics, Night Vision, and other defense product lines. Third quarter Gross Profit of $0.9M was down from the prior year’s third quarter by $1.0 million and down from the preceding quarter by $0.7 million. The Gross Margin was primarily reduced by investments in labor and related overhead made to enhance quality and delivery to our customers. Adjusted EBITDA for the quarter was nearly zero, down from the prior year by $1.1 million. Key drivers of the year-over-year decrease include those mentioned above $1.0 million reduction in Gross Profit, as well as an increase in audit fees of $0.2 million and increases in Board of Directors compensation of $0.4 million (non-cash), partially offset by cost controls across many areas, including maintenance costs, administrative costs, and insurance costs. Cash, including available lines of credit, was $1.3 million. Cash balances were $0.6 million, with year-to-date operating activities generating $0.7 million, investing activities using $0.7 million, and Financing activities using $0.1 million. Continuation of strong execution plans: Our focus and drive on yield and throughput continue to enhance our ability to produce at a high rate for our customers, including significant improvements across LEO Satellite Optics, Night Vision Optics, and Integrated Scope Optics. We continue to increase staffing on our night shifts, enabling the company to scale production. Expansion into breakthrough applications continues, with several key opportunities moving from the concept phase into the first-article initial production phase. We are initiating additional cost-down projects to deliver stronger earnings. This, along with the improvements in yields and throughput, is expected to drive fourth-quarter improvements. Third Quarter 2025 Fin...
Investor releaseQuarter not tagged2025-10-06Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Full Year 2024 and First Half 2025 Financial Results
GlobeNewswire
Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Full Year 2024 and First Half 2025 Financial Results
Adjusted EBITDA Grew to 15.3% in the First Half of 2025 Compared to 7.7% in Full-Year 2024, First Half 2025 Earnings per Share Rises to $0.00 from Negative $0.03 in 2024 ROCHESTER, NEW YORK, Oct. 06, 2025 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (“Syntec Optics” or the “Company”) (Nasdaq: OPTX), a leading provider of mission-critical products to advanced technology defense, biomedical, and communications equipment & scientific instruments manufacturers, reported financial and operational results for the full year 2024 and first half 2025. Full Year 2024 Financial Highlights Sales from products increase by $1.9 million year-over-year Adjusted EBITDA of $2.2 million was positive but down $3.1 million from the 2023 adjusted EBITDA of $5.3 million Cash, including available lines of credit, was nearly $5.1 million First Half 2025 Financial Highlights Net Sales of $13.6 million, up $0.3 million from $13.3 million compared to 2024 Adjusted EBITDA as a percentage of revenue increased to 15.3% for the six months ended June 30, 2025, compared to 5.8% for the same period in 2024 Cash, including available lines of credit, was $4.3 million 8% of principal on commercial bank lines was paid down during the six months ended June 30, 2025 Net income for the six-month period ending June 30, 2025, improved by $0.9 million versus the same period in 2024 Operational and Business Highlights Entered a new end-market - Energy - by enabling light for space-based solar power and grid-scale fusion energy products in the first half of 2025 Strengthened the management team in the first part of 2025 for public markets Continued production on night vision goggles, integrated scope, and other aiming scope optics for defense in 2024 and the first half of 2025 Continued production for disposable optics for biomedical diagnostics in 2024 and the first half of 2025 Continued production for Low Earth Orbit Satellite Space Optics in 2024 and the first half of 2025 Launched one new product in optical connectivity for Artificial Intelligence deployment-based scaling of data centers in 2024, and started production runs in the first half of 2025 Initiated engineering that expands the space optics line of products into new products for complementary ground networks and satellite path tracking The calendar year 2024 was marked by record-high Net Sales and growth within the new end-market – Com...