Precision Optics Stock Price, News & Analysis

Precision Optics (NASDAQ: POCI) has announced a $1.4 million registered direct offering of common stock. The company will sell 265,868 shares at $5.25 per share to institutional and accredited investors, and $5.79 per share to directors and officers. The offering is expected to close on August 15, 2024, subject to customary conditions. A.G.P./Alliance Global Partners is acting as the sole placement agent. The offering is made pursuant to an effective shelf registration statement on Form S-3. Proceeds will be used for general corporate purposes, potentially including working capital, capital expenditures, and business development activities.

Precision Optics (NASDAQ: POCI) appointed Clay Schwabe as VP of Sales and Marketing. Schwabe brings over 15 years of experience in medical device sales, marketing, and commercialization. His background includes roles at Veranex, PRIA Healthcare, Vertiflex, and Medtronic. He is a US Military Academy graduate and served as a US Army Captain. The current SVP, Jeff DiRubio, will transition to a consulting role. Under DiRubio’s tenure, sales increased by over 700%. CEO Dr. Joe Forkey highlighted Schwabe’s innovative approach and experience in high-growth environments as key assets for the company’s future.

Precision Optics (NASDAQ: POCI) has announced its participation in the Lytham Partners Spring 2024 Investor Conference, scheduled for May 30, 2024. Dr. Joe Forkey, CEO, will present a webcast and host one-on-one meetings with investors. The webcast starts at 1:15pm ET and can be accessed on the conference home page or directly through a provided link. The presentation will be available for replay. Investors can arrange one-on-one meetings by contacting Lytham Partners or registering for the event online.

Precision Optics (NASDAQ: POCI) reported third-quarter fiscal year 2024 results, showing a 4% increase in revenue to $5.2 million from $5.0 million in the same quarter last year. Engineering revenue surged 62% to $2.3 million, while production revenue decreased to $3.0 million from $3.6 million the previous year. Gross margins improved to 35.5% from 34.4%. The net loss narrowed to ($317,055) from ($398,432) last year, and adjusted EBITDA rose to $52,012 from $9,456.

In April and May 2024, the company secured significant production orders, including a $9 million cystoscopy surgery program and orders from major defense contractors totaling nearly $2 million. CEO Joseph Forkey highlighted the company's growth and strategic positioning in the medical devices and defense sectors.

Precision Optics , Inc. (NASDAQ: POCI) announced a record $9 million production order for single-use endoscope assemblies for cystoscopy surgery. This order highlights the company's technological capabilities and growth potential in the single-use medical device market. The order is expected to generate approximately $2.2 million in revenue by June 2025, $4.6 million in fiscal 2026, and the remainder by the first half of fiscal 2027.

Precision Optics , Inc. (Nasdaq: POCI) has scheduled a conference call to discuss third quarter fiscal year 2024 financial results on May 15, 2024. The Company will release its financial results and file its 10-Q after the market closes on the same day. Interested parties can access the call via phone or webcast.