Optex Systems Holdings (OPXS) Q4 2025 Financial Results Summary
QuoteReporter
Optex Systems Holdings, Inc. (OPXS) Q4 2025 Financial Results Summary
RICHARDSON, Texas, December 17, 2025 – Optex Systems Holdings, Inc. (NASDAQ: OPXS), a leading manufacturer of precision optical sighting systems for military and commercial applications, announced its financial results for the fiscal year ended September 28, 2025. Below is a summary of the key financial highlights from the report.
Key Financial Metrics
- Revenue:
- Total revenue increased by $7.3 million, or 21.6%, to $41.3 million for FY2025 from $34.0 million in FY2024.
- Revenue from the Optex Richardson segment rose by $5.6 million, or 30.8%.
- Revenue from the Applied Optics Center increased by $1.8 million, or 11.1%.
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Optex Richardson’s rise was attributed to a 56% increase in production throughput for the periscope line.
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Gross Profit:
- Increased by $2.5 million to $12.1 million in FY2025, compared to $9.5 million in FY2024.
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Gross margin improved to 29.2% from 28.0%, marking a 4.3% increase.
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Operating Income:
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Rose to $7.1 million, up 47.9% from $4.8 million the previous year.
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Net Income:
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Net income applicable to common shareholders increased by $1.3 million, or 36.6%, to $5.1 million from $3.8 million in FY2024.
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Adjusted EBITDA:
- Increased by 40.1% to $8.0 million, compared to $5.7 million in FY2024.
Performance Overview
- Operating Expenses:
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General and administrative spending saw a slight increase of $0.2 million year-over-year.
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New Orders:
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The company booked $36.2 million in new orders, a 0.5% decrease from $36.4 million in the prior year.
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Working Capital:
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As of September 28, 2025, working capital was $21.1 million, up from $15.1 million a year earlier.
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Cash Position:
- Cash and cash equivalents at the end of FY2025 were $6.4 million, significantly higher than $1.0 million at the end of FY2024.
Segment Performance
- The report highlighted the disparate performance between the two segments. The Richardson segment grew significantly while Applied Optics Center highlighted a mix of increased demand and reduced customer interest in optical assemblies.
Challenges and Future Outlook
- Optex noted specific challenges related to contracts awarded by the U.S. federal government, specifically:
- Delays in awards for the ARC III Abrams replenishment contracts and the BNVG Night Vision Goggle program.
- Anticipation of continued funding delays affecting revenue in upcoming quarters due to recent government shutdowns.
Management Changes
- On December 4, 2025, CEO Danny Schoening announced his resignation, effective December 20, 2025, with Chad George, previously President, appointed as his successor.
Dividend and Share Repurchase
- The report does not mention any quarterly dividend declaration or share repurchase program.
Conclusion
The financial results for Optex Systems Holdings, Inc. indicate a robust growth trajectory for FY2025, exemplified by substantial increases in revenues, profits, and working capital. However, the company is also facing external challenges that may impact future performance. The transition in leadership with a focus on expanding capacity and exploring new capabilities may position the company favorably to navigate these challenges.
| September 28, 2025 | September 29, 2024 | |
|---|---|---|
| Revenue | $41,337 | $33,995 |
| Cost of Sales | $29,280 | $24,466 |
| Gross Profit | $12,057 | $9,529 |
| General and Administrative Expense | $4,925 | $4,708 |
| Operating Income | $7,132 | $4,821 |
| Asset Impairment | $804 | $- |
| Interest (Income) Expense, net | $-23 | $47 |
| Other Expenses | $781 | $47 |
| Income Before Taxes | $6,351 | $4,774 |
| Income Tax Expense, net | $1,204 | $1,006 |
| Net income applicable to common shareholders | $5,147 | $3,768 |
| Basic income per share | $0.75 | $0.56 |
| Weighted Average Common Shares Outstanding – basic | 6,865,280 | 6,762,145 |
| Diluted income per share | $0.74 | $0.55 |
| Weighted Average Common Shares Outstanding – diluted | 6,923,657 | 6,833,274 |
| ASSETS | September 28, 2025 | September 29, 2024 |
|---|---|---|
| Cash and Cash Equivalents | $6,389 | $1,009 |
| Accounts Receivable, Net | $4,569 | $3,764 |
| Inventory, Net | $14,322 | $14,863 |
| Contract Asset | $142 | $219 |
| Prepaid Expenses | $285 | $217 |
| Current Assets | $25,707 | $20,072 |
| Property and Equipment, Net | $1,427 | $1,292 |
| Deferred Tax Asset | $1,199 | $947 |
| Intangibles, net | $- | $951 |
| Right-of-use Asset | $1,700 | $2,233 |
| Security Deposits | $23 | $23 |
| Other Assets | $2,922 | $4,154 |
| Total Assets | $30,056 | $25,518 |
| Accounts Payable | $1,525 | $1,177 |
| Credit Facility | $- | $1,000 |
| Operating Lease Liability | $645 | $638 |
| Federal Income Taxes Payable | $87 | $74 |
| Accrued Expenses | $1,634 | $1,258 |
| Accrued Selling Expense | $141 | $237 |
| Accrued Warranty Costs | $162 | $52 |
| Contract Loss Reserves | $132 | $259 |
| Customer Advance Deposits | $234 | $255 |
| Current Liabilities | $4,560 | $4,950 |
| Operating Lease Liability, net of current portion | $1,205 | $1,760 |
| Total Liabilities | $5,765 | $6,710 |
| Common Stock – ($0.001 par, 2,000,000,000 authorized, 6,920,658 and 6,873,938 shares issued and outstanding, respectively) | $7 | $7 |
| Additional Paid in Capital | $21,801 | $21,465 |
| Retained Earnings (Accumulated Deficit) | $2,483 | $-2,664 |
| Stockholders’ Equity | $24,291 | $18,808 |
| Total Liabilities and Stockholders’ Equity | $30,056 | $25,518 |