Optex Systems wins $10.2 million Army contract for optical sighting systems

RICHARDSON, Texas - Optex Systems Holdings, Inc. (NASDAQ:OPXS), a $82 million market cap company with a "GREAT" financial health rating according to InvestingPro, has secured a five-year contract worth up to $10.2 million from the Army Contracting Command - Detroit Arsenal for Abrams-based optical sighting systems, according to a press release statement issued Tuesday.

The requirement-type contract includes a first-year order estimated to exceed $4.3 million, with deliveries scheduled to begin in fiscal year 2026.

"Optex Systems is honored to be selected for this vital optical sighting system, which highlights many of the company’s core competencies," said Danny Schoening, CEO of Optex Systems.

The Richardson, Texas-based company manufactures precision optical sighting systems for military and commercial applications. Its products are installed on various U.S. military land vehicles, including the Abrams and Bradley fighting vehicles.

Optex Systems’ periscopes and optical sighting systems are designed for use in combat conditions. The company, founded in 1987, is ISO 9001:2015 certified.

The company reported its current backlog exceeds $39.2 million.

In other recent news, Optex Systems Holdings, Inc. announced a significant development with the acquisition of a $2.8 million order to supply optical sighting systems for the XM30 Combat Vehicle. The contract involves the delivery of 13 sighting systems to a major U.S. prime contractor, with completion anticipated by fiscal 2026. This order is part of the ongoing XM30 Combat Vehicle program. Additionally, Optex Systems has promoted Hugh Bond to the position of General Manager of its Optex Division. Bond has been with the company for 17 years and has held various roles with increasing responsibility. These recent developments reflect Optex Systems’ ongoing activities and strategic movements in its operational and leadership structure.

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