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ROCHESTER, NEW YORK - Syntec Optics Holdings, Inc. (NASDAQ:OPTX), known for its custom optics manufacturing, has announced the acquisition of orders worth approximately $5.2 million for the year 2025. These orders are for components essential to the production of advanced night vision goggles for the U.S. defense sector. The new contract represents about 18% of the company’s current annual revenue of $29.4 million. According to InvestingPro data, Syntec has maintained a modest revenue growth of 4.4% over the last twelve months.
The company has already delivered products valued at nearly $0.9 million and is set to continue its contributions to a key defense program that enhances soldier safety with lightweight, helmet-mounted goggles designed to minimize neck strain. Syntec has been a part of this program since its inception in 2018, providing technology that supports the goggles’ binocular systems, known for their situational awareness and integrated thermal imaging features. Despite recent stock volatility, with shares down over 66% in the past year, InvestingPro analysis suggests the stock is currently undervalued based on its Fair Value model.
Matt Carey, Syntec’s head of Business Development and Delivery, expressed satisfaction with the sustained demand for their products, which he believes reflects the confidence in Syntec’s ability to meet stringent performance standards for national defense. Mike Ransford, Syntec’s Site Leader, also commented on the consistent order flow, attributing it to the active deployment and ongoing need for advanced night vision capabilities in the field.
Syntec Optics, with over two decades of experience, operates out of Rochester, NY, and serves various end markets, including defense, biomedical, communications, and consumer industries. The company’s extensive manufacturing capabilities have recently expanded to include products such as Low Earth Orbit satellite optics and precision microlens arrays. Financial metrics from InvestingPro show a gross profit margin of 22.8% and a current ratio of 1.34, indicating stable operational efficiency despite challenging market conditions. Subscribers to InvestingPro can access 8 additional key insights about OPTX’s financial health and market position.
This announcement is based on a press release statement and contains forward-looking statements, including financial forecasts and projections, which are subject to risks and uncertainties. These statements are not guarantees of future performance, and actual results may differ materially. Syntec Optics has not provided any assurance that the anticipated results will be achieved and disclaims any obligation to update forward-looking statements.
In other recent news, Syntec Optics has projected a positive financial outlook for the first quarter of 2025, anticipating a return to double-digit EBITDA margins. This optimism is driven by the company’s operational efficiency and investment in new products across various sectors, including space and defense optics. Additionally, Syntec Optics has secured follow-on orders worth $2.1 million for advanced optics to be used in next-generation military scopes, with deliveries scheduled through 2026. The company is also ramping up its production of optomechanicals by nearly 50% to fulfill orders totaling approximately $2.4 million, with an annual production value expected to reach $4 million. In a strategic move, Syntec Optics has advanced its engineering team and leadership to further develop integrated scope optics for the U.S. defense sector. Meanwhile, a board member, Joseph Mohr, has resigned due to disagreements over company operations, though details remain undisclosed. The company’s commitment to quality has been highlighted by a 500% reduction in quality returns for its night vision product lines. Investors will likely monitor these developments closely as Syntec Optics continues to navigate its growth and operational strategies.
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