Earnings release
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A SYNTEC OPTICS Quelle : Syntec Optics August 10 , 2026 16:33 ET Syntec Optics ( Nasdaq : OPTX ) Hits All - Time High Revenue in Q2 2026 Results Driving Growth : Expanded Margins , Higher Positive Earnings , Strengthened Balance Sheet , and Raised Revenue Guidance ROCHESTER , NEW YORK , Aug. 10 , 2026 ( GLOBE NEWSWIRE ) -- Syntec Optics Holdings , Inc. ( Nasdaq : OPTX ) , a leading provider of deep tech for the defense , space , Al data center , and other vibrant end - markets , today reported financial results for the second quarter ended June 30 , 2026 , where Defense and Space Tech product lines ramped to drive all - time high revenue , margin expansion , and increased earnings . Syntec products have a typical 6-8 year life cycle and yearly recurring revenues . Earnings Call information : Date : Wednesday , August 12 , 2026 Time : 5:00 p.m. ET Register in Advance ( Required ) : https://us06web.zoom.us/meeting/register/dw9jrC8DSaW4EzSyAlvFAQ ( 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 Tuesday , August 26 , 2026 , in the Investor Relations section of Syntec
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Optics’ website at www.syntecoptics.com. Management Commentary Dean Rudy, Chief Financial Of cer of Syntec Optics, commented: "The second quarter represented an important in ection point for Syntec Optics. We delivered 26% year-over-year revenue growth, signi cantly expanded gross pro t, returned to pro tability, strengthened our balance sheet, and continued expanding our presence across multiple complementary growth markets. Most importantly, these results demonstrate that the operational improvements we have been implementing over the past year are beginning to translate into improved nancial performance. During the quarter, we completed our public equity offering, generating approximately $21.4 million in net proceeds. We used a portion of those proceeds to eliminate our revolving line of credit while ending the quarter with approximately $14 million in cash. Today, we have the nancial exibility to invest in advanced manufacturing capabilities, expand alongside our blue-chip customers, and pursue complementary strategic opportunities that enhance long-term shareholder value.” Financial Highlights Revenue Growth Revenue increased 26% to $8.3 million, compared to $6.6 million in the second quarter of 2025. Growth was driven primarily by communications (+74%), defense (+36%), and consumer (+23%) markets, while biomedical revenue returned to more normalized run rates compared to the rst quarter of 2026. Management believes this increasingly balanced revenue mix re ects continued execution of the Company's strategy to diversify across multiple high-growth technology platforms while reducing dependence on any single end market. Pro tability Gross pro t increased 34% to $2.1 million. Gross margin expanded to 26%, compared to 24% in the prior-year quarter and 15% in the rst quarter of 2026. The company is targeting an increase to 35%-40%, seen in the past, as revenue increases with an improved cost structure. With both efforts to decrease COGS and SG&A, EBITDA is targeted in the 18-20% range, as demonstrated in the past. Operating income improved to $0.3 million, compared to an operating loss of $(0.1) million last year. Net income improved to $0.3 million, or $0.01 per share, compared to a net loss of $(0.3) million, or $(0.01) per diluted share, in the prior-year quarter. Liquidity The quarter ended with approximately $14.0 million in cash and cash equivalents, compared to $0.4 million at December 31, 2025. Repaid approximately $6.8 million of indebtedness, eliminating the Company's revolving line of credit and resulting in reduced current liabilities by approximately 56%, from $11.2 million to $5.0 million, while reducing total liabilities by approximately 43%, from $14.8 million to $8.4 million. Generated positive operating cash ow during the rst six months of 2026. Successfully completed a public equity offering generating approximately $21.4 million in net proceeds. Management believes the Company's transformed balance sheet provides the nancial exibility to accelerate investments in advanced manufacturing equipment, automation, metrology, and technical capabilities needed to support the expanding technology roadmaps of its blue-chip customers. The strengthened capital position also enhances Syntec's ability to evaluate complementary strategic opportunities that can broaden its technology portfolio and create long- term shareholder value.
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Expanding Customer Relationships and Solidifying our Market Position Matt Carey, Vice President of Business Development and Delivery, commented: "One of the most encouraging trends we're seeing is that customers continue expanding Syntec's participation within their technology platforms. Rather than simply winning isolated new programs, we're increasing the number of products we manufacture for existing customers while simultaneously entering adjacent technologies. That expansion re ects years of investment in building one of the industry's broadest vertically integrated optical manufacturing capabilities." Business Highlights Space Tech Increased production throughput on Low Earth Orbit satellite optics. Expanded recent production awards for optical communications products to approximately $4.3 million. Added a new production program supporting orbital collision-avoidance optics. Defense Tech Expanded missile guidance programs. Increased missile laser guidance orders by approximately 40%. Expanded AI-enabled military AR/VR wearable product portfolio. Added new ballistic display window products supporting U.S. defense modernization. Biomedical & Life Sciences Secured a $4.6 million follow-on production order supporting critical-care diagnostics. AI Infrastructure Since entering the AI infrastructure market approximately two years ago, the Company has accumulated approximately $4 million in orders for products supporting AI data centers, including advanced optical interconnects, fusion-energy systems, and related technologies. Operational Highlights Continued improving manufacturing throughput, automation, yield, and production ef ciency, contributing to higher gross margins. Invested approximately $0.7 million during Q2 in additional manufacturing equipment while expanding production staf ng to support anticipated customer demand. Multiple development programs advanced toward full production, strengthening the Company's future revenue pipeline. Outlook Management expects operational momentum to continue during the second half of 2026 as multiple production programs continue ramping. For the third quarter of 2026, the Company expects revenue between $8.3 million and $9.0 million, driven primarily by biomedical production, AI-enabled AR/VR micro-camera systems, and prototype engineering activity supporting future production programs. For the fourth quarter, the Company expects revenue between $8.75 million and $9.25 million, supported by continued expansion in Low Earth Orbit satellite optics, advanced optical interconnects, and initial production activity supporting emerging fusion-energy systems. Beyond our near-term operating outlook, management continues evaluating opportunities to accelerate Syntec's long-term growth strategy through disciplined investment in advanced
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manufacturing capabilities, expansion of our technology platform, and other strategic initiatives that further strengthen the Company's competitive position. About Syntec Optics Headquartered in Rochester, N.Y., Syntec Optics Holdings, Inc. (NASDAQ: OPTX) is one of the nation’s largest bespoke manufacturers of high-precision optics and photonics. With a dedicated team of nearly 180 employees, the company pushes the limits of light-based technologies to connect and protect the world. Syntec supports critical missions ranging from low-Earth-orbit satellites to advanced defense platforms and AI data centers. As light-enabled technologies continue to account for a signi cant portion of global economic output—representing nearly $16 trillion of the $106 trillion in total worldwide production as of 2023—Syntec Optics remains positioned at the forefront of the modern optical revolution. For more information, visit syntecoptics.com. Forward-Looking Statements This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to the intended use of net proceeds from the public offering, are forward-looking statements. Some of these forward-looking statements can be identi ed by the use of forward- looking words, including "may," "should," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "plan," "targets," "projects," "could," "would," "continue," "forecast" or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the control of Syntec Optics), which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Syntec Optics and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) risk outlined in any prior SEC lings; 2) ability of Syntec Optics to successfully increase market penetration into its target markets; 3) the addressable markets that Syntec Optics intends to target do not grow as expected; 4) the loss of any key executives; 5) the loss of any relationships with key suppliers including suppliers abroad; 6) the loss of any relationships with key customers; 7) the inability to protect Syntec Optics' patents and other intellectual property; 8) the failure to successfully execute manufacturing of announced products in a timely manner or at all, or to scale to mass production; 9) costs related to any further business combination; 10) changes in applicable laws or regulations; 11) the possibility that Syntec Optics may be adversely affected by other economic, business and/or competitive factors; 12) Syntec Optics' estimates of its growth and projected nancial results for the future and meeting or satisfying the underlying assumptions with respect thereto; 13) the impact of any pandemic, including any mutations or variants thereof and the Russian/Ukrainian or Israeli con ict, and any resulting effect on business and nancial conditions; 14) inability to complete any investments or borrowings in connection with any organic or inorganic growth; 15) the potential for events or circumstances that result in Syntec Optics' failure to timely achieve the anticipated bene ts of Syntec Optics' customer arrangements; and 16) other risks and uncertainties set forth in the sections entitled "Risk Factors" and "Cautionary Note Regarding Forward-Looking Statements" in prior SEC lings. These lings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward- looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Syntec Optics does not give any assurance that Syntec Optics will achieve its expected results. Syntec Optics does not undertake any duty to update these forward-looking statements except as otherwise required by law. For further information, please contact: Investor Relations
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InvestorRelations@syntecoptics.com SOURCE: Syntec Optics Holdings, Inc. (Nasdaq: OPTX) SYNTEC OPTICS HOLDINGS, INC. CONDENSED CONSOLIDATED BALANCE SHEETS JUNE 30, 2026 AND DECEMBER 31, 2025 2026 (unaudited) 2025 ASSETS Current Assets Cash $14,047,104 $ 358,867 Accounts Receivable, Net 7,261,303 6,241,768 Inventory 7,578,694 7,884,943 Prepaid Expenses and Other Assets 763,851 655,827 Total Current Assets 29,650,952 15,141,405 Property and Equipment, Net 9,187,500 9,172,703 Total Assets $38,838,452 $24,314,108 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities Accounts Payable $ 2,058,881 $2,691,748 Accrued Expenses 981,993 683,397 Federal Income Tax Payable 169,582 169,582 Deferred Revenue 816,134 66,420 Line of Credit - 6,763,863 Current Maturities of Debt Obligations 95,718 93,358 Current Maturities of Debt Obligations - Related Party 473,206 406,495 Current Maturities of Finance Lease Obligations 369,082 354,499 Total Current Liabilities 4,964,596 11,229,362 Long-Term Liabilities Long-Term Debt Obligations 1,231,040 1,267,043 Long-Term Debt Obligations - Related Party 957,721 862,237 Long-Term Finance Lease Obligations 1,209,916 1,414,611 Total Long-Term Liabilities 3,398,677 3,543,891 Total Liabilities 8,363,273 14,773,253 Commitments and Contingencies - Stockholders’ Equity CL A Common Stock, Par value $.0001 per share; 121,000,000 authorized; 40,279,878 issued and outstanding as of June 30, 4,028 3,692
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2026; 36,920,226 issued and outstanding as of December 31, 2025; Additional Paid-In Capital 24,252,789 2,677,181 Retained Earnings 6,218,362 6,859,982 Total Stockholders’ Equity 30,475,179 9,540,855 Total Liabilities and Stockholders’ Equity $38,838,452 $24,314,108 SYNTEC OPTICS HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025 June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net Sales $ 8,273,858 $ 6,559,455 $14,787,224 $13,628,497 Cost of Goods Sold 6,130,794 4,961,489 11,683,368 9,721,913 Gross Pro t 2,143,064 1,597,966 3,103,856 3,906,584 General and Administrative Expenses 1,821,676 1,744,216 3,558,515 3,524,382 Income (Loss) from Operations 321,388 (146,250) (454,659) 382,202 Other (Expense) Income Other Income 78,182 11,298 147,482 16,995 Interest Expense, Including Amortization of Debt Issuance Costs (143,333) (208,969) (334,443) (409,865) Total Other Expense (65,151) (197,671) (186,961) (392,870) Income (Loss) Before Provision for (Bene t) Income Taxes 256,237 (343,921) (641,620) (10,668) Provision for Income Taxes - - - 9,588 Net Income (Loss) $ 256,237 $ (343,921)$ (641,620)$ (20,256) Net Income (Loss) per Common Share Basic and diluted $ 0.01 $ (0.01)$ (0.02)$ 0.00 Weighted Average Number of Common Shares Outstanding Basic and diluted 39,191,966 36,920,226 38,078,711 36,920,226
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SYNTEC OPTICS HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED JUNE 30, 2026 AND 2025 2026 2025 Cash Flows From Operating Activities Net Loss $ (641,620)$ (20,256) Adjustments to Reconcile Net Loss to Net Cash Provided By Operating Activities: Depreciation 1,072,164 1,387,427 Amortization of Debt Issuance Costs 12,416 4,834 Stock-Based Compensation 150,000 - Change in Allowance for Expected Credit Losses 135,611 75,727 Change in Reserve for Obsolescence (13,107) (18,881) Changes in Operating Assets and Liabilities: Accounts Receivable (1,155,146) (374,827) Inventory 319,356 (1,020,458) Prepaid Expenses and Other Assets (108,024) 275,288 Accounts Payables and Accrued Expenses (350,747) (344,470) Federal Income Tax Payable - 179,376 Deferred Revenue 749,714 (2,519) Net Cash Provided By Operating Activities 170,617 141,241 Cash Flows From Investing Activities Purchases of Property and Equipment (1,070,485) (604,772) Net Cash Used in Investing Activities (1,070,485) (604,772) Cash Flows From Financing Activities Borrowing (Repayments) on Line of Credit, Net (6,763,863) 500,000 Borrowing on Debt Obligations - Related Parties 200,000 - Repayments on Debt Obligations (46,059) (231,430) Repayments on Debt Obligations - Related Parties (37,805) - Repayments on Finance Lease Obligations (190,112) (116,741) Gross Proceeds from issuance of common stock 23,000,003 - Payment of common stock issuance costs (1,574,059) - Net Cash Provided By Financing Activities 14,588,105 151,829 Net Increase (Decrease) in Cash 13,688,237 (311,702) Cash - Beginning 358,867 598,787 Cash - Ending $14,047,104 $ 287,085 Supplemental Cash Flow Disclosures: Cash Paid for Interest $ 105,411 $ 409,579 Cash Paid for Taxes $ - $ - Supplemental Disclosures of Non-Cash Investing Activities:
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Assets Acquired and Included in accounts payable $ 16,476 $ 40,362 Issuance of common stock for stock-based compensation $ 7 $ 23 NON-GAAP RECONCILIATION OF EBITDA FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2026 AND 2025 Three Months Ended Six Months Ended June 30, 2026 June 30, 2025 June 30, 2026 June 30, 2025 Net (Loss) Income $ 256,237 $ (343,921)$ (641,620)$ (20,256) Stock-Based Compensation Expense BOD (1) 75,000 150,000 Depreciation 532,482 676,623 1,072,164 1,387,427 Amortization of Debt Issuance Costs 8,246 2,418 12,416 4,834 Interest (Earned) Expense (54,303) 207,623 105,411 409,579 Taxes - - 9,588 Non-Recurring Items Executive Transition (2) - 135,246 - 249,189 One-time Contract exit costs - 11,750 - 21,063 Non-recurring property damage - - 23,211 21,261 Adjusted EBITDA $ 817,662 $ 689,739 $ 721,582 $ 2,082,685 In the quarters ended June 30, 2026 and 2025: (1)Stock-based compensation was issued to independent Board members. (2)A succession plan was required for the transition of the CEO at the 2024 year-end.