POCI
Precision Optics Corporation, Inc.4.2000
-0.0700-1.64%
Dec 16, 4:00:00 PM EST
Earnings Call Transcripts
This Quarter (Q1 '26)
No earnings call transcript available yet
Last Quarter (Q4 '25)
FY Q2 '26
Cystoscope fixes on track, debt funding eyed
Q&A clarified cystoscope yield fixes—customer-approved design changes with parts in hand—are set for production next month, bridging to margin gains without dilution via Q3 loan facility and state grants. Aerospace and cystoscope programs ramp faster than expected, driving the revenue guidance hike. Management detailed phased facility upgrades, with production overhaul in 6-12 months, and emphasized ops team's leverage for higher output. Two defense aerospace production lines confirmed: satellite powerhouse and micro-optics await reorder; borescope stays in development. Ops infrastructure scales effortlessly. Confident on program longevity, investors will eye Q4 EBITDA breakeven.
Key Stats
Market Cap
32.40MP/E (TTM)
-Basic EPS (TTM)
-0.85Dividend Yield
0%Recent Filings
8-K
Annual meeting results
Precision Optics held its annual stockholder meeting on March 19, 2026, with 77.07% turnout from 7.7M shares. Stockholders elected Woodward, Miclot, Duncan, Pellegrino, and Forkey as directors; approved exec comp advisory vote overwhelmingly; ratified Stowe & Degon as auditors. Board continuity locked in. No changes signal steady governance.
10-Q
Q2 FY2026 results
Precision Optics doubled Q2 revenues to $7.4M from $4.5M y/y, driven by systems manufacturing up 213% to $5.2M, yet gross margin cratered to 2.8% from 23.6% on yield losses in cystoscope lines and under-absorbed overhead; YTD revenue climbed 61% to $14.0M but operating loss widened to $3.3M from $2.2M, with net loss $(0.44) per share on 7.7M diluted shares (anti-dilutive options excluded). Cash burned to $0.9M amid $0.2M operating outflow, $1.6M total debt (7-8.6%, maturing 2028), and $1.25M revolver untapped but covenant non-compliant. Leases swelled assets. Cash won't last.
10-Q
Q1 FY2026 results
Precision Optics surged revenue 59.2% y/y to $6.7M for Q1 FY2026 ended September 30, 2025, driven by Systems Manufacturing up nearly 300% to $4.9M, though gross margin slipped to 14.2% from 26.6% on low yields and underutilized engineering. Operating loss widened to $1.6M from $1.2M, with net loss at $0.21/share matching prior year despite share count rising to 7.7M; anti-dilutive options excluded. Cash dipped to $1.4M after $78K operating cash flow offset $305K capex, while total debt stands at $1.8M (7-8.6% rates, maturing 2028) with revolver undrawn but covenant waivers ongoing. Revenue thrives. Yet debt covenants bind liquidity.
8-K
Exec departure, new COO named
Precision Optics mutually terminated Mahesh Lawande's employment effective October 31, 2025, shifting him to Advisor to the President for October while extending severance to seven months at $160,417 annualized. COO Joseph Traut started October 1 with $275,000 salary, 25% bonus potential, and 60,000-share inducement options vesting over three years. Leadership transitions in place.
10-K
FY2025 results
Precision Optics held FY2025 revenue flat at $19.1M despite a 42% drop in engineering design services to $4.9M, offset by systems manufacturing surging 122% to $8.3M as projects transitioned from development to production. Gross margins cratered to 17.8% from 30.3% on yield issues with new lines and underutilized engineers, driving operating loss to $5.6M versus $2.7M last year. Q4 momentum showed in ramped manufacturing but pressured cash burn hit $3.5M used in operations; equity raises netted $6.3M to repay the $1M revolver, leaving $1.8M cash. Debt covenants waived amid losses. Ross Optical dipped 10% on tariff uncertainty. Customer concentration risks loom large.
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