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[10-Q] SYNTEC OPTICS HOLDINGS, INC. Quarterly Earnings Report

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10-Q
Rhea-AI Filing Summary

SYNTEC OPTICS HOLDINGS, INC. (OPTX) reported interim financial detail in its Form 10-Q for the period ended June 30, 2025. The company had 36,920,226 Class A shares outstanding and disaggregated revenue across end-markets with Consumer revenue of $2,525,120 and Defense revenue of $1,227,483 for one comparable period shown. Inventory and work-in-process balances are material, with work-in-process at $7,748,686.

Liquidity includes an $8.0M credit facility with M&T Bank, with $6,763,863 outstanding at June 30, 2025 and a weighted average borrowing rate of 7.31%. Total long-term debt outstanding across term notes is disclosed at $2,915,882, with scheduled maturities through 2029. Reported basic and diluted net (loss) income per share ranged around $(0.01) to $0.01 in presented periods. Significant customers represented 41%-43% of revenues from three customers, with related receivables about $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) ha riportato i dettagli finanziari interinali nel suo modulo 10-Q per il periodo terminato il 30 giugno 2025. L'azienda aveva 36,920,226 azioni ordinarie di Classe A in circolazione e ricavi scomposti per mercato finale con ricavi Consumer di $2,525,120 e ricavi Defense di $1,227,483 per un periodo comparabile mostrato. Le giacenze e i passaggi di lavoro sono significativi, con la componente work-in-process pari a $7,748,686.

La liquidità include una linea di credito di $8.0M con M&T Bank, con $6,763,863 in essere al 30 giugno 2025 e un tasso medio ponderato di finanziamento pari al 7.31%. Il debito totale a lungo termine in essere su note a termine è indicato a $2,915,882, con scadenze previste fino al 2029. L'utile (perdita) netto base e diluito per azione si è attestato tra $(0.01) e $0.01 nei periodi presentati. Clienti significativi rappresentano 41%-43% dei ricavi provenienti da tre clienti, con crediti correlati di circa $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) informó detalles financieros interinos en su Formulario 10-Q para el periodo finalizado al 30 de junio de 2025. La empresa tenía 36,920,226 acciones ordinarias Clase A en circulación y ingresos desagregados por mercados finales con ingresos de Consumer de $2,525,120 y ingresos de Defense de $1,227,483 para un periodo comparable mostrado. Los inventarios y las existencias en proceso son significativos, con work-in-process en $7,748,686.

La liquidez incluye una línea de crédito de $8.0M con M&T Bank, con $6,763,863 pendientes al 30 de junio de 2025 y una tasa de interés media ponderada de 7.31%. La deuda total a largo plazo pendiente en notas a plazo se divulga en $2,915,882, con vencimientos programados hasta 2029. Las ganancias (pérdidas) netas básicas y diluidas por acción se situaron en torno a $(0.01) a $0.01 en los periodos presentados. Los clientes significativos representaron 41%-43% de los ingresos de tres clientes, con las cuentas por cobrar relacionadas de alrededor de $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) 2025년 6월 30일 종료 기간에 대한 Form 10-Q에서 중간 재무 세부 정보를 보고했습니다. 회사는 36,920,226 주의 Class A 주식이 발행되어 있으며, 최종 마켓별로 매출을 분해하면 Consumer 매출이 $2,525,120, Defense 매출이 $1,227,483인 것으로 나타났습니다. 재고 및 진행 중인 작업의 잔액은 중요하며 진행 중인 작업의 금액은 $7,748,686입니다.

유동성은 M&T Bank와의 $8.0M 신용 한도를 포함하며, 2025년 6월 30일 기준 미상환 금액은 $6,763,863이고 가중 평균 차입 금리는 7.31%입니다. 만기까지의 일정이 포함된 장기채무 총액은 $2,915,882로 공개되며 2029년까지 만기가 예정되어 있습니다. 기본 및 희석 주당 순손실/순이익은 제시된 기간에서 $(0.01)에서 $0.01 사이로 보고되었습니다. 주요 고객은 매출의 41%-43%를 차지하며, 관련 매 회수채권은 약 $2.8M였습니다.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) a publié des détails financiers intermédiaires dans son formulaire 10-Q pour la période se terminant le 30 juin 2025. L'entreprise avait 36,920,226 actions ordinaires de Classe A en circulation et des revenus désagrégés par marché final avec des revenus Consumer de $2,525,120 et des revenus Defense de $1,227,483 pour une période comparable montrée. Les stocks et les travaux en cours sont importants, avec un travail en cours à $7,748,686.

La liquidité comprend une facilité de crédit de $8.0M auprès de M&T Bank, avec $6,763,863 en cours au 30 juin 2025 et un taux d'emprunt moyen pondéré de 7.31%. La dette à long terme totale en circulation sur les notes à terme est divulguée à $2,915,882, avec des échéances prévues jusqu'en 2029. Le bénéfice net de base et dilué par action déclaré se situait autour de $(0.01) à $0.01 dans les périodes présentées. Des clients importants représentaient 41%-43% des revenus provenant de trois clients, avec des comptes clients liés d'environ $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) berichtete Zwischenfinanzdaten in seinem Form 10-Q für den Zeitraum zum 30. Juni 2025. Das Unternehmen hatte 36,920,226 Class-A-Aktien im Umlauf und nicht aggregierte Umsätze nach Endmärkten mit Consumer-Umsätzen von $2,525,120 und Defense-Umsätzen von $1,227,483 für einen vergleichbaren Zeitraum. Lagerbestände und in Arbeit befindliche Positionen sind signifikant, wobei der Bestand in Arbeit $7,748,686 beträgt.

Liquidität umfasst eine Kreditfazilität von $8.0M bei M&T Bank, mit $6,763,863 ausstehend am 30. Juni 2025 und einem gewichteten durchschnittlichen Borrowing-Satz von 7.31%. Insgesamt langfriste Verschuldung in Form von Term Notes wird mit $2,915,882 angegeben, mit fälligen Terminen bis 2029. Berichtet wurden grundlegende und verwässerte Nettogewinne/Nettoverluste je Aktie in Bereichen von $(0.01) bis $0.01 in den dargestellten Perioden. Bedeutende Kunden machten 41%-43% des Umsatzes von drei Kunden aus, mit entsprechenden Forderungen von ca. $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) أعلن عن التفاصيل المالية المرحلية في النموذج 10-Q الخاص به للفترة المنتهية في 30 يونيو 2025. كان لدى الشركة 36,920,226 سهمًا من فئة A قائمًا وحقوق إيرادات مفصّلة حسب الأسواق النهائية مع إيرادات المستهلك بمقدار $2,525,120 وإيرادات الدفاع بمقدار $1,227,483 لفترة مقارنة المعروضة. مخزونات وتدفقات العمل ذات أهمية، مع مخزون العمل قيد المعالجة عند $7,748,686.

تشمل السيولة تسهيلات ائتمانية بقيمة $8.0M مع بنك M&T، مع وجود رصيد مستحق قدره $6,763,863 في 30 يونيو 2025 ومعدل اقتراض متوسط ​​مرجح قدره 7.31%. الدين الطويل الأجل الإجمالي المعلن عبر سندات طويلة الأجل هو $2,915,882، مع استحقاقات مجدولة حتى 2029. صافي الربح (الخسارة) الأساسية والمخفف للسهم كان بين $(0.01) و $0.01 في الفترات المقدمة. العملاء الكبار مثلوا 41%-43% من الإيرادات من ثلاثة عملاء، مع receivables ذات صلة حوالي $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) 在截至2025年6月30日的期间，于 Form 10-Q 报告中披露了中期财务细节。公司在外流通的A类股票为 36,920,226 股，按最终市场细分的收入为 Consumer 收入 $2,525,120，Defense 收入 $1,227,483，为一个可比期间所示。存货和在制品余额很重要，在制品为 $7,748,686。

流动性包括与 M&T Bank 的 $8.0M 信用额度，2025年6月30日尚未偿付金额为 $6,763,863，加权平均借款利率为 7.31%。长期债务总额在期限票据中披露为 $2,915,882，到期日持续至2029年。报告的每股基本和摊薄净收益（损失）在呈现期间约为 $(0.01) 至 $0.01。重要客户代表来自三家客户的收入的 41%-43%，相关应收款约为 $2.8M。

Positive
  • $8.0M committed line of credit provides secured near-term liquidity
  • Work-in-process and inventory disclosure shows detailed operational visibility
Negative
  • $6,763,863 outstanding on the line of credit at a 7.31% weighted rate increases interest expense
  • 41%-43% revenue concentration from three customers increases customer-concentration risk
  • $2.92M of term debt with scheduled maturities adds fixed debt service through 2029

Insights

Liquidity is concentrated in a revolving credit line with notable outstanding balance.

The company maintains an $8.0M secured credit facility and had $6,763,863 drawn as of June 30, 2025, with a weighted average rate of 7.31%. This elevated utilization links near-term liquidity to bank covenants and refinancing risk given the facility maturity in November 2026.

Also disclosed are $2.92M of term debt with scheduled principal maturities through 2029, which creates predictable cash outflows but adds fixed debt service costs.

Revenue concentration and inventory levels present operational risk and working-capital sensitivity.

Three customers accounted for approximately 41%-43% of revenues, with accounts receivable from them around $2.8M. High customer concentration can amplify cash-flow volatility if orders shift.

Inventory and work-in-process are sizeable (work-in-process $7.75M), indicating tied-up capital that could pressure working capital if turnover slows.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) ha riportato i dettagli finanziari interinali nel suo modulo 10-Q per il periodo terminato il 30 giugno 2025. L'azienda aveva 36,920,226 azioni ordinarie di Classe A in circolazione e ricavi scomposti per mercato finale con ricavi Consumer di $2,525,120 e ricavi Defense di $1,227,483 per un periodo comparabile mostrato. Le giacenze e i passaggi di lavoro sono significativi, con la componente work-in-process pari a $7,748,686.

La liquidità include una linea di credito di $8.0M con M&T Bank, con $6,763,863 in essere al 30 giugno 2025 e un tasso medio ponderato di finanziamento pari al 7.31%. Il debito totale a lungo termine in essere su note a termine è indicato a $2,915,882, con scadenze previste fino al 2029. L'utile (perdita) netto base e diluito per azione si è attestato tra $(0.01) e $0.01 nei periodi presentati. Clienti significativi rappresentano 41%-43% dei ricavi provenienti da tre clienti, con crediti correlati di circa $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) informó detalles financieros interinos en su Formulario 10-Q para el periodo finalizado al 30 de junio de 2025. La empresa tenía 36,920,226 acciones ordinarias Clase A en circulación y ingresos desagregados por mercados finales con ingresos de Consumer de $2,525,120 y ingresos de Defense de $1,227,483 para un periodo comparable mostrado. Los inventarios y las existencias en proceso son significativos, con work-in-process en $7,748,686.

La liquidez incluye una línea de crédito de $8.0M con M&T Bank, con $6,763,863 pendientes al 30 de junio de 2025 y una tasa de interés media ponderada de 7.31%. La deuda total a largo plazo pendiente en notas a plazo se divulga en $2,915,882, con vencimientos programados hasta 2029. Las ganancias (pérdidas) netas básicas y diluidas por acción se situaron en torno a $(0.01) a $0.01 en los periodos presentados. Los clientes significativos representaron 41%-43% de los ingresos de tres clientes, con las cuentas por cobrar relacionadas de alrededor de $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) 2025년 6월 30일 종료 기간에 대한 Form 10-Q에서 중간 재무 세부 정보를 보고했습니다. 회사는 36,920,226 주의 Class A 주식이 발행되어 있으며, 최종 마켓별로 매출을 분해하면 Consumer 매출이 $2,525,120, Defense 매출이 $1,227,483인 것으로 나타났습니다. 재고 및 진행 중인 작업의 잔액은 중요하며 진행 중인 작업의 금액은 $7,748,686입니다.

유동성은 M&T Bank와의 $8.0M 신용 한도를 포함하며, 2025년 6월 30일 기준 미상환 금액은 $6,763,863이고 가중 평균 차입 금리는 7.31%입니다. 만기까지의 일정이 포함된 장기채무 총액은 $2,915,882로 공개되며 2029년까지 만기가 예정되어 있습니다. 기본 및 희석 주당 순손실/순이익은 제시된 기간에서 $(0.01)에서 $0.01 사이로 보고되었습니다. 주요 고객은 매출의 41%-43%를 차지하며, 관련 매 회수채권은 약 $2.8M였습니다.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) a publié des détails financiers intermédiaires dans son formulaire 10-Q pour la période se terminant le 30 juin 2025. L'entreprise avait 36,920,226 actions ordinaires de Classe A en circulation et des revenus désagrégés par marché final avec des revenus Consumer de $2,525,120 et des revenus Defense de $1,227,483 pour une période comparable montrée. Les stocks et les travaux en cours sont importants, avec un travail en cours à $7,748,686.

La liquidité comprend une facilité de crédit de $8.0M auprès de M&T Bank, avec $6,763,863 en cours au 30 juin 2025 et un taux d'emprunt moyen pondéré de 7.31%. La dette à long terme totale en circulation sur les notes à terme est divulguée à $2,915,882, avec des échéances prévues jusqu'en 2029. Le bénéfice net de base et dilué par action déclaré se situait autour de $(0.01) à $0.01 dans les périodes présentées. Des clients importants représentaient 41%-43% des revenus provenant de trois clients, avec des comptes clients liés d'environ $2.8M.

SYNTEC OPTICS HOLDINGS, INC. (OPTX) berichtete Zwischenfinanzdaten in seinem Form 10-Q für den Zeitraum zum 30. Juni 2025. Das Unternehmen hatte 36,920,226 Class-A-Aktien im Umlauf und nicht aggregierte Umsätze nach Endmärkten mit Consumer-Umsätzen von $2,525,120 und Defense-Umsätzen von $1,227,483 für einen vergleichbaren Zeitraum. Lagerbestände und in Arbeit befindliche Positionen sind signifikant, wobei der Bestand in Arbeit $7,748,686 beträgt.

Liquidität umfasst eine Kreditfazilität von $8.0M bei M&T Bank, mit $6,763,863 ausstehend am 30. Juni 2025 und einem gewichteten durchschnittlichen Borrowing-Satz von 7.31%. Insgesamt langfriste Verschuldung in Form von Term Notes wird mit $2,915,882 angegeben, mit fälligen Terminen bis 2029. Berichtet wurden grundlegende und verwässerte Nettogewinne/Nettoverluste je Aktie in Bereichen von $(0.01) bis $0.01 in den dargestellten Perioden. Bedeutende Kunden machten 41%-43% des Umsatzes von drei Kunden aus, mit entsprechenden Forderungen von ca. $2.8M.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

 

FORM 10-Q

 

(MARK ONE)

☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the quarter ended June 30, 2025

 

OR

 

☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

 

For the transition period from to

 

Commission file number: 001-41034

 

SYNTEC OPTICS HOLDINGS, INC.

(Exact Name of Registrant as Specified in Its Charter)

 

Delaware   87-0816957

(State or other jurisdiction of

incorporation or organization)

  

(I.R.S. Employer

Identification No.)

 

515 Lee Rd.

Rochester, NY 14606

(Address of principal executive offices and zip code)

 

(585) 464-9336

(Registrant’s telephone number including area code)

 

Securities registered pursuant to Section 12(b) of the Act:

 

Title of each class   Trading Symbol(s)   Name of each exchange on which registered
Common stock, par value $0.0001 per share   OPTX   The Nasdaq Capital Market
Redeemable warrants, exercisable for shares of common stock at an exercise price of $11.50 per share   OPTXW   The Nasdaq Capital Market

 

Check whether the issuer (1) filed all reports required to be filed by Section 13 or 15(d) of the Exchange Act during the past 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. Yes ☒ No ☐

 

Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T (§232.405 of this chapter) during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes ☒ No ☐

 

Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reporting company or an emerging growth company. See definitions of “large accelerated filer”, “accelerated filer”, “smaller reporting company”, and “emerging growth company” in Rule 12b-2 of the Exchange Act.

 

Large accelerated filer ☐ Accelerated filer ☐
Non-accelerated filer ☒ Smaller reporting company ☒
  Emerging growth company ☒

 

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 

Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes ☐ No ☒

 

As of October 3, 2025, there were 36,920,226 shares of Class A common stock, par value $0.0001 per share, issued and outstanding.

 

 

 

 

 

 

SYNTEC OPTICS HOLDINGS, INC.

FORM 10-Q FOR THE QUARTER ENDED JUNE 30, 2024

TABLE OF CONTENTS

 

  Page
Part I. FINANCIAL INFORMATION 1
Item 1. Interim Unaudited Condensed Consolidated Financial Statements 1
Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 1
Condensed Consolidated Statements of Operations for the Three and Six Months ended June 30, 2025 and 2024 (Unaudited) 2
Condensed Consolidated Statements of Stockholders’ Equity for the Three and Six Months Ended June 30, 2025 and 2024 (Unaudited) 3
Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2025 and 2024 (Unaudited) 4
Notes to Condensed Consolidated Financial Statements (Unaudited) 5
Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations 11
Item 3. Quantitative and Qualitative Disclosures Regarding Market Risk 16
Item 4. Controls and Procedures 17
Part II. OTHER INFORMATION 18
Item 1. Legal Proceedings 18
Item 1A. Risk Factors 18
Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 18
Item 3. Defaults Upon Senior Securities 18
Item 4. Mine Safety Disclosures 18
Item 5. Other Information 18
Item 6. Exhibits 18
SIGNATURES 19

 

 

 

 

PART I - FINANCIAL INFORMATION

 

Item 1. Interim Unaudited Condensed Consolidated Financial Statements

 

Syntec Optics Holdings, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

JUNE 30, 2025 AND DECEMBER 31, 2024

 

  2025
(unaudited)		   2024 
         
ASSETS        
Current Assets          
Cash  $287,085   $598,787 
Accounts Receivable, Net   6,038,305    5,739,205 
Inventory   7,992,617    6,953,278 
Income Tax Receivable   -    9,794 
Prepaid Expenses and Other Assets   321,301    596,589 
           
Total Current Assets   14,639,308    13,897,653 
           
Property and Equipment, Net   10,385,435    11,668,859 
Deferred Tax Asset   270,360    439,942 
           
Total Assets  $25,295,103   $26,006,454 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
           
Current Liabilities          
Accounts Payable  $1,854,077   $2,706,392 
Accrued Expenses   821,676    814,600 
Deferred Revenue   33,993    36,512 
Line of Credit   6,763,863    

6,263,863

 
Current Maturities of Debt Obligations   482,973    467,742 
Current Maturities of Finance Lease Obligations   340,492    284,002 
           
Total Current Liabilities   10,297,074    10,573,111 
           
Long-Term Liabilities          
Long-Term Debt Obligations   2,372,985    2,614,812 
Long-Term Finance Lease Obligations   1,611,218    1,784,449 
           
Total Long-Term Liabilities   3,984,203    4,399,261 
           
Total Liabilities   14,281,277    14,972,372 
           
Commitments and Contingencies   -    - 
           
Stockholders’ Equity          
CL A Common Stock, Par value $.0001 per share; 121,000,000 authorized; 36,920,226 issued and outstanding as of June 30, 2025; 36,688,266 issued and outstanding as of December 31, 2024;   3,692    3,669 
Additional Paid-In Capital   2,377,181    2,377,204 
Retained Earnings   8,632,953    8,653,209 
           
Total Stockholders’ Equity   11,013,826    11,034,082 
           
Total Liabilities and Stockholders’ Equity   25,295,103    26,006,454 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

1

 

 

Syntec Optics Holdings, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

                     
   Three Months Ended   Six Months Ended 
   June 30, 2025   June 30, 2024   June 30, 2025   June 30, 2024 
                 
Net Sales  $6,559,455   $7,006,000   $13,628,497   $13,261,908 
                     
Cost of Goods Sold   4,961,489    4,831,673    9,721,913    10,380,138 
                     
Gross Profit   1,597,966    2,174,327    3,906,584    2,881,770 
                     
General and Administrative Expenses   1,744,216    2,015,783    3,524,382    4,130,326 
                     
Income (Loss) from Operations   (146,250)   158,544    382,202    (1,248,556)
                     
Other Income (Expense)                    
Interest Expense, Including Amortization of Debt Issuance Costs   (208,969)   (167,242)   (409,865)   (327,109)
Other Income   11,298    319,623    16,995    338,972 
                     
Total Other (Expense)    (197,671)   152,381    (392,870)   11,863 
                     
Income (Loss) Before Provision for (Benefit) Income Taxes   (343,921)   310,925    (10,668)   (1,236,693)
                     
Provision (Benefit) for Income Taxes   -    29,082    9,588    (309,393)
                     
Net (Loss) Income  $(343,921)  $281,843   $(20,256)  $(927,300)
                     
Net Income (Loss) per Common Share                    
Basic and diluted  $(0.01)  $0.01   $(0.00)  $(0.03)
                     
Weighted Average Number of Common Shares Outstanding                    
Basic and diluted   36,920,226    36,688,266    36,920,226    36,688,266 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

2

 

 

SYNTEC OPTICS HOLDINGS, INC.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS’ EQUITY

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

           Additional         
   Common Stock   Paid-In   Retained     
   Shares   Amount   Capital   Earnings   Total 
                     
Balances, January 1, 2025   36,688,266   $3,669   $2,377,204   $8,653,209   $11,034,082 
                          
Net Income   -    -    -    323,665    323,665 
                          
Stock-Based Compensation   231,960    23    (23)   -    - 
                          
Balances, March 31, 2025   36,920,226    3,692    2,377,181    8,976,874    11,357,747 
                          
Net Loss   -    -    -    (343,921)   (343,921)
                          
Balances, June 30, 2025   36,920,226   $3,692   $2,377,181   $8,632,953   $11,013,826 

 

           Additional         
   Common Stock   Paid-In   Retained     
   Shares   Amount   Capital   Earnings   Total 
                     

Balances, January 1, 2024

   36,688,266   $3,669   $1,927,204   $11,132,869   $13,063,742 
                          
Net Loss   -    -    -    (1,209,143)   (1,209,143)
                          
Balances, March 31, 2024   36,688,266    3,669    1,927,204    9,923,726    11,854,599 
                          
Net Income   -    -    -    281,843    281,843
                          
Balances, June 30, 2024   36,688,266   $3,669   $1,927,204   $10,205,569   $12,136,442 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

3

 

 

Syntec Optics Holdings, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

FOR THE SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

   2025   2024 
Cash Flows From Operating Activities          
Net Loss  $(20,256)  $(927,300)
Adjustments to Reconcile Loss to Net Cash (Used In)          
Provided By Operating Activities:          
Depreciation and Amortization   1,387,427    1,385,606 
Amortization of Debt Issuance Costs   4,834    4,387 
Gain on Disposal of Property and Equipment   

-

    

(309,000

)
Change in Allowance for Expected Credit Losses   75,727    (24,395)
Change in Reserve for Obsolescence   (18,881)   291,576
Deferred Income Taxes   -    (357,994)
(Increase) Decrease in:        
Accounts Receivable   (374,827)   885,368
Inventory   (1,020,458)   (1,958,557)
Decrease in Federal Income Tax Receivable   179,376    - 
Prepaid Expenses and Other Assets   275,288    57,309 
Increase (Decrease) in:        
Accounts Payables and Accrued Expenses   (344,470)   (993,406)
Federal Income Tax Payable   -    (318,240)
Deferred Revenue   (2,519)   280,763
           
Net Cash Provided By (Used In) Operating Activities   141,241    (1,983,883)
           
Cash Flows From Investing Activities          
Purchases of Property and Equipment   (604,772)   (254,767)

Proceeds from Disposal of Property and Equipment

   

-

    

309,000

 
           
Net Cash (Used in) Provided in Investing Activities   (604,772)   54,233
           
Cash Flows From Financing Activities          
(Repayments) Borrowing on Line of Credit, Net   500,000    (273,729)
Borrowing on Debt Obligations   

-

    

1,100,388

 
Repayments on Debt Obligations   (231,430)   (224,775)
Repayments on Finance Lease Obligations   (116,741)   - 
           
Net Cash Provided By Financing Activities   151,829    601,884
           
Net Decrease in Cash   (311,702)   (1,327,766)
           
Cash - Beginning   598,787    2,158,245 
           
Cash - Ending  $287,085   $830,479 
           
Supplemental Cash Flow Disclosures:          
           
Cash Paid for Interest  $409,579   $276,809 
           
Cash Paid for Taxes  $-   $537,510 
           
Supplemental Disclosures of Non-Cash Investing Activities:          
           
Assets Acquired and Included in Accounts Payable and Accrued Expenses  $40,362  $651,736 
           
Issuance of restricted stock from stock-based compensation  $23   $- 

 

The accompanying notes are an integral part of the unaudited condensed consolidated financial statements.

 

4

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 1 — Description of Organization and Business Operations

 

Nature of Business

 

Syntec Optics Holdings, Inc. (the “Company” or “Syntec Optics”) is a vertically integrated manufacturer of optics and photonics components and sub-systems – from opto-mechanicals to optical elements of various geometries, diamond turned optics – both prototype and production, and optical systems including optics assembly, electro-optics assembly, design, and coating. Sales are made to customers in the United States and Europe in defense, medical, and consumer end-markets. The Company has one reporting segment as its operating segments meet the requirements for aggregation.

 

Note 2 — Summary of Significant Accounting Policies

 

The Company has provided a discussion of significant accounting policies, estimates and judgements in its 2024 Annual Report. There have been no changes to the Company’s significant accounting policies since December 31, 2024.

 

Basis of Presentation

 

The accompanying interim unaudited condensed consolidated financial statements have been prepared by the Company in United States (“U.S.”) dollars and pursuant to the rules and regulations of the United States Securities and Exchange Commission (“SEC”), the instructions to Form 10-Q and the provisions of Regulation S-X pertaining to interim financial statements. Accordingly, certain information and footnote disclosures normally included in financial statements prepared in accordance with accounting principles generally accepted in the U.S. have been condensed or omitted. The interim unaudited condensed consolidated financial statements and notes included in this report should be read in conjunction with the consolidated financial statements and notes included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024. In the opinion of management, these interim unaudited condensed consolidated financial statements include all adjustments and accruals of a normal and recurring nature necessary to fairly state the results of the interim periods presented. The results for interim periods are not necessarily indicative of results to be expected for the full year or for any future periods.

 

5

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 3 — Disaggregated Revenues

 

The following table disaggregates revenue by revenue recognition methodologies for the three and six months ended June 30:

 

                     
   Three Months Ended June 30   Six Months Ended June 30 
   2025   2024   2025   2024 
                 
Products  $6,347,882   $6,947,620   $13,268,104   $13,198,323 
Custom Tooling   89,573    15,443   $208,393    19,648 
Non-Recurring Engineering   122,000    42,937    152,000    43,937 
                     
Total  $6,559,455   $7,006,000   $13,628,497   $13,261,908 

 

Syntec Optics’ management periodically reviews its revenues by its consumer, communication, medical, and defense end-markets. The purpose of this analysis is to determine its end market mix and identify trends. The following table disaggregates revenue as outlined above for the three and six months ended June 30:

 

                     
   Three Months Ended June 30   Six Months Ended June 30 
   2025   2024   2025   2024 
                 
Communication  $945,307   $626,549   $2,806,685   $2,683,811 
Consumer   1,522,032    2,525,120    2,685,322    3,763,105 
Defense   1,409,932    1,227,483    2,968,434    2,420,798 
Medical   2,682,184    2,626,848    5,168,057    4,394,195 
                     
Total  $6,559,455   $7,006,000   $13,628,497   $13,261,908 

 

6

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 4 — Inventory

 

Inventory consists of the following at June 30, 2025 and December 31, 2024:

 

   2025   2024 
         
Raw Materials  $599,731   $487,405 
Work-in-Process   7,748,686    6,815,425 
Finished Goods   233,515    153,353 
Inventory gross   8,581,932    7,456,183 
Less: Reserve for Obsolescence   589,315    502,905 
           
Inventory  $7,992,617   $6,953,278 

 

Note 5 — Property and Equipment

 

Property and equipment consists of the following at June 30, 2025 and December 31, 2024:

 

   2025   2024 
         
Machinery and Equipment  $34,528,631   $34,430,556 
Building and Leasehold Improvements   5,483,617    5,483,616 
Land   130,000    130,000 
Office Furniture and Equipment   2,295,749    2,295,749 
Tooling   169,308    163,381 
Vehicles   24,059    24,059 
Property and Equipment, Gross   42,631,364    42,527,361 
Less: Accumulated Depreciation   32,245,929    30,858,502 
           
Property and Equipment, Net  $10,385,435   $11,668,859 

 

Depreciation expenses were approximately $676,600 and $675,200 for the three months ended June 30, 2025 and 2024, respectively, and $1,387,427 and $1,385,606 for the six months ended June 30, 2025 and 2024, respectively.

 

7

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 6 — Line of Credit

 

The Company has a line of credit available in the amount of $8,000,000 with M&T Bank (the “Credit Agreement”). Borrowings may be made against the line of credit as Secured Overnight Financing Rate (“SOFR”) Loans. The weighted average rate on outstanding borrowings as of June 30, 2025 was 7.31%. As of both June 30, 2025 and December 31, 2024, the Company had $6,763,863 and $6,263,863, respectively, outstanding under the line of credit facility.

 

The Credit Agreement contains customary covenants and restrictions on the Company’s ability to engage in certain activities and financial covenants requiring the Company to maintain certain financial ratios. At June 30, 2025, the Company was in compliance with the minimum fixed charge coverage ratio, the maximum total leverage ratio, and the minimum EBITDA requirement as defined in the Credit Agreement. It is our expectation to file future 10-K and 10-Q filings in a timely manner.

 

Note 7 — Long-Term Debt

 

Long-term debt consists of the following at June 30, 2025 and December 31, 2024:

 

   2025   2024 
         
The Company entered into a $863,607 mortgage note payable, securitized by the Company’s real estate and cross-collateralized with all Company assets, with M&T Bank, requiring monthly installments of $7,389, including interest at a fixed rate of 6.13%. The note matures in February 2029.  $816,188   $836,815 
           
The Company entered into a $236,781 term note payable with M&T Bank, requiring monthly principal installments of $3,385, plus interest at a fixed rate of 6.05%. The note matures in March 2029.   184,359    205,829 
           
The Company entered into a $1,775,000 term note payable with M&T Bank, requiring monthly principal installments of $34,886 plus interest at a fixed rate of 6.59%. The note matures in November 2028.   1,272,970    1,436,662 
           
The Company entered into a $1,064,000 term note payable with the U.S. Small Business Administration, requiring monthly installments of $6,652, including fees and interest at a fixed rate of 2.22%. The note matures in June 2036. The note is secured by certain assets of the Company and a personal guaranty of the Company’s stockholder.   642,365    668,006 
           
Total Long-Term Debt   2,915,882    3,147,312 
           
Less: Unamortized Debt Issuance Costs   59,924    64,758 
           
Long-Term Debt, Less Unamortized Debt Issuance Costs   2,855,958    3,082,554 
           
Less: Current Maturities   482,973    467,742 
           
Long-Term Debt  $2,372,985   $2,614,812 

 

At June 30, 2025, the future debt maturities are as follows:

 

      
December 31, 2025 (remainder of year)  $353,808 
2026   497,991 
2027   529,310 
2028   492,668 
2029   117,261 
Thereafter   924,844 
Total  $2,915,882 

 

8

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 8 — Retirement Plan

 

The Company maintains a 401(k) retirement plan covering eligible employees of the Company and its affiliate. Under the plan, participants may defer a percentage of their annual compensation, with Syntec Optics matching 50% of employee contributions not to exceed 6% of annual compensation. Total contributions for the Company for the three months ended June 30, 2025 and 2024 amounted to $45,000 and $50,000, respectively, and for the six months ended June 30, 2025 and 2024 were approximately $93,000 and $95,000, respectively.

 

Note 9 — Income Taxes

 

The income tax provision for interim periods is determined using an estimate of the annual effective tax rate, adjusted for discrete items, if any, that are taken into account in the relevant period. Each quarter, the estimate of the annual effective tax rate is updated, and if the estimated effective tax rate changes, a cumulative adjustment is made.

 

The effective income tax rate was 20.3% and 25.0% for the six months ended June 30, 2025 and 2024, respectively.

 

Note 10 — Leases

 

During 2024, the Company entered into finance lease agreements for equipment utilized in its manufacturing facility.

 

The components of operating and finance lease costs are as follows for the three months ended June 30:

 

   2025   2024   2025   2024 
   Three Months ended June 30   Six Months ended June 30 
   2025   2024   2025   2024 
Finance Lease Cost:                    
Amortization of assets  $82,157   $-   $164,314   $- 
Interest on liabilities  40,073   -   81,837   - 
                     
Total lease cost  $122,230   $-   $

246,151

   $- 

 

Supplemental cash flow information related to leases are as follows for the three months ended June 30:

 

   2025   2024   2025   2024 
   Three Months ended June 30   Six Months ended June 30 
   2025   2024   2025   2024 
Cash paid for amounts included in measurement of lease obligations:                
Operating cash flows from operating leases  $-   $-   $-   $- 
Operating cash flows from finance leases  $40,073   $-   $81,837   $- 
Financing cash flows from finance leases  $88,576   $-   $115,300   $- 

 

The following table summarizes weighted average remaining lease term and discount rates as of June 30, 2025, and December 31, 2024:

 

   2025   2024 
Weighted average remaining lease term (years)          
Operating leases   N/A     N/A  
Finance leases   4.51    5.00 
Weighted average discount rate          
Operating leases   N/A     N/A  
Finance leases   8.4%   8.4%

 

Future maturities of our lease liabilities are as follows as of June 30, 2025:

 

      
2025 remainder of year  $256,762 
2026   513,525 
2027   513,525 
2028   513,525 
2029   513,525 
Thereafter   128,380 
Total Undiscounted Lease Obligations   2,439,242 
Less: Imputed Interests   487,532 
      
Present Value of Lease Obligations  $1,951,710 

 

9

 

 

SYNTEC OPTICS HOLDINGS, INC.

NOTES TO UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS

 

Note 11 — Warrants

 

The following tables presents a roll-forward of the Company’s warrants from December 31, 2024 to June 30, 2025:

 

   Common Stock Warrants 
     
Warrants outstanding, December 31, 2024, 2025   14,107,989 
Warrants exercised   - 
Warrants outstanding, June 30, 2025   14,107,989 

 

Note 12 — Income (Loss) Per Share

 

The following table sets forth the information needed to compute basic and diluted (loss) earnings per share for the three and six months ended June 30, 2025 and 2024:

 

   2025   2024   2025   2024 
   Three months ended June 30,   Six months ended June 30, 
   2025   2024   2025   2024 
Basic and diluted net income (loss) per share                    
Numerator:                    
Net (loss) income  $(343,921)  $281,843   $(20,256)  $(927,300)
                    
Denominator                    
Weighted-average shares outstanding   36,920,226    36,688,266    36,920,226    36,688,266 
Basic and diluted net (loss) income per share  $(0.01)  $0.01   $(0.00)  $(0.03)

 

Note that there were no potentially dilutive shares that were excluded from the weighted-average share calculation as of June 30, 2025 and 2024.

 

Note 13 — Significant Customers

 

For the three months ended June 30, 2025, the Company generated 43% of revenues from three customers. For the six months ended June 30, 2025, the Company generated 41% of revenues from three customers. These three customers are in different end-markets utilizing diverse manufacturing capabilities from the Company. The outstanding accounts receivable due from these customers were approximately $2.8 million as of June 30,2025

 

For the three and six months ended June 30, 2024, the Company generated 53% of revenues from three customers. The outstanding accounts receivable due from these customers were approximately $3.5 million as of June 30, 2024.

 

Note 14 Segment reporting

 

The Company operates as one operating segment. The Company’s chief operating decision maker (“CODM”) is its Chief Executive Officer, who reviews the financial statements on a consolidated basis. The CODM uses the Company’s long-range plan to allocate resources. The CODM makes decisions on resource allocation, assessments of performance, and monitors budget versus actual results using consolidated loss from operations.

 

Significant expenses within loss from operations, as well as within net loss, include general and administrative expenses, and other expenses which are each separately presented on the Company’s Consolidated Statements of Operations and Comprehensive Loss.

 

10

 

 

Item 2. Management’s Discussion and Analysis of Financial Condition and Results of Operations

 

The information in this Management’s Discussion and Analysis should be read in conjunction with the accompanying unaudited condensed financial statements and notes.

 

Cautionary Note Regarding Forward-Looking Statements

 

This report includes forward-looking statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), and the Private Securities Litigation Reform Act of 1995. The words “believe,” “may,” “estimate,” “continue,” “anticipate,” “intend,” “should,” “plan,” “could,” “target,” “potential,” “is likely,” “will,” “expect” and similar expressions are intended to identify forward-looking statements. All statements other than statements of historical facts contained in this report, including among others, our strategy, future operations, future financial position, future revenue, projected costs, prospects, plans, objectives of management and expected market growth are forward-looking statements. Our actual results and financial condition may differ materially from those express or implied in such forward-looking statements. Therefore, you should not rely on any of these forward-looking statements.

 

For a further list and description of various risks, relevant factors and uncertainties that could cause future results or events to differ materially from those expressed or implied in our forward-looking statements, see the “Risk Factors” and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” sections in this report, our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and our other filings with the Securities and Exchange Commission (the “SEC”). All forward-looking statements in this report are made only as of the date hereof or as indicated and represent our views as of the date of this report. Factors or events that could cause our actual results to differ may emerge from time to time, and it is not possible for us to predict all of them. We undertake no obligation to publicly update or revise any forward-looking statements, whether as the result of new information, future events or otherwise, except as required by law.

 

Overview

 

Syntec Optics is vertically integrated from design and component manufacturing for lens system assembly to imaging module integration for system solutions. Making our own tools, molding, and nanomachining allows close interaction and recut ability, enabling special techniques to hold tolerances up to sub-micron level. Syntec has assembled a world class design for manufacturability team to augment its production team with deep expertise to fully leverage our vertical integration from component making to optics and electronics assembly. Syntec Optics has steadily developed variety of other complementary manufacturing techniques to provide a wide suite of horizontal capabilities including thin films deposition coatings, glass molding, polymer molding, tool-making, mechanicals manufacturing, and nanomachining.

 

Syntec became a leader in the industry by pioneering polymer-based optics and then subsequently adding glass optics and optics made from other materials including crystals and metals. Polymer-based optics provide numerous advantages compared to incumbent glass-based optics. Polymer-based optics are smaller, lower weight, lower cost, and offer very high-performance optical solutions. For all these reasons, Syntec is able to deliver products to our clients that are lighter, smaller, and suitable for cutting edge technology products, including the newly evolving silicon photonics industry.

 

Our designs and assembly processes are developed in-house in the United States. In 2016, Syntec Optics expanded its manufacturing facility to nearly 90,000 square-feet, allowing us to increase our production capacity and offer additional advanced manufacturing processes under one roof which provide us the ability to increase sales to existing customers and increase penetration of our end-markets. Our facility provides a streamlined, partially autonomous production process for our current customers, which comprises optical assembly, electro-optics assembly, polymer optics molding, glass optics molding, opto-mechanical assembly, nanomachining and thin films coating. Our facility also provides availability to expand the number of advanced manufacturing processes to handle increased volumes of existing and new customer orders.

 

Syntec Optics focuses on four end markets of defense, medical, consumer, and communications all with several mission-critical applications with strong tailwinds.

 

In 2023, Syntec Optics launched low weight night vision optics and further, announced hybrid light-weight magnifier and thermal clip on in the defense end market. Also, in 2023, Syntec Optics announced biomedical mirrors for sensing in the medical end market. Rounding out new product launches for 2023, in the communication end market, Syntec Optics launched microlens arrays and low earth satellite optics.

 

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Key Factors Affecting Our Operating Results

 

Our financial position and results of operations depend to a significant extent on the following factors:

 

End Market Consumers

 

The demand for our products ultimately depends on demand from customers in our current end markets. We generate sales through (1) Tier 1 suppliers and (2) through OEMs.

 

An increasing proportion of our sales has been and is expected to continue to be derived from sales to defense. biomedical and industrial/consumer OEMs, driven by continued efforts to develop and expand sales to OEMs with whom we have longstanding relationships. Future OEM sales will be subject to risks and uncertainties, including the number of defense, biomedical and industrial/consumer products these OEMs manufacture and sell, which in turn may be driven by the expectations these OEMs have around end market demand.

 

Demand from end markets is impacted by a number of factors, including travel restrictions (global pandemics or geo-political conflicts), fuel costs and energy demands (including an increasing trend towards the use of green energy), as well as overall macro-economic conditions. Sales of our optics and photonics enabled components and sub-components have also benefited from the increased global conflict, the United States dynamic relationships with other world powers that may have a conflicting view with western-style democracy, the movement towards reshoring of advanced manufacturing, biomedical components and sub-components needed to support physicians in their battle against global pandemics, and the increased global demand for high-fidelity data communications on all corners of the globe.

 

Syntec Optics plans to further add bolt-on acquisitions for inorganic growth in the fragmented photonics industry by expanding our portfolio of our existing, U.S.-based, advanced manufacturing processes of making thin-film coated glass, crystal, or polymer components and their housings, which are ultimately assembled into high performance hybrid electro-optics sub-systems. By doing so, Syntec Optics plans to grow to the new end markets of communications and sensing. Syntec Optics entered the communications end market in 2023. Syntec Optics is currently engaged as a supplier for a U.S. Department of Commerce’s National Institute of Standards and Technology (NIST) funded research and development project for the sensing end market. The communication end market is characterized by the use of optics and photonics for data transmittal and reception of information, including, for example, satellite communications and other associated applications. The sensing end-market is characterized by the use of optics and photonics to detect scattered light or light with an altered refractive index due to the presence of a medium within a wide range of potential applications, including, for example, disease detection and other associated applications.

 

Supply

 

We currently rely on strategically selected electronics, highly engineered polymers and aluminum manufacturers located in the United States to manufacture our highly specialized optic and photonics enabled components and sub-components, and we intend to continue to rely on these suppliers going forward. Our close working relationships with our Unites States based suppliers, reflected in our ability to (x) increase our purchase order volumes (qualifying us for related volume-based discounts) and (y) order and receive delivery of raw materials in anticipation of required demand, has helped us moderate increased supply-related costs associated with inflation and to avoid potential shipment delays. To mitigate against potential adverse production events, we opted to build our inventory of key raw materials. In connection with these stockpiling activities, we experienced an increase in prepaid inventory compared to prior periods as suppliers required upfront deposits in response to supply chain disruptions.

 

As a result of the active steps we have taken to manage our inventory levels, we have not been subject to the shortages or price impacts that have been present for manufacturers of optic and photonic enabled components or sub-components.

 

Product and Customer Mix

 

Our sales consist of sales of highly specialized optic and photonic enabled components and sub-components. These products are sold to different customer types (e.g., OEMs and Tier 1 manufacturers) and at different prices and involve varying levels of costs. In any particular period, changes in the mix and volume of particular products sold and the prices of those products relative to other products will impact our average selling price and our cost of goods sold. The price of our products may also increase as a result of increases in the cost of components due to inflation, labor and raw materials. In addition, revenues from these larger customers may fluctuate from time to time based on these customers’ business needs and customer experience, the timing of which may be affected by market conditions or other factors outside of our control. These customers have a broad product purchase mix across various departments of Syntec Optics. Syntec Optics supplies several mission critical components and sub-components to these customers that are not tied to a single application, customer initiative, or purchase order. We expect sales to increase as we further advance our full-system design expertise and product offerings and customers increasingly demand more sophisticated systems, rather than drop-in replacements. In addition to the impacts attributable to the general sales mix across our products, our results of operations are impacted by the relative margins of products sold. As we continue to introduce new products at varying price points, our overall gross margin may vary from period to period as a result of changes in product and customer mix.

 

Production Capacity

 

All of our design, advanced manufacturing and assembly currently takes place at our nearly 90,000 square foot headquarters and manufacturing facility located in Rochester, New York. We currently operate optical, opto-mechanical and electro-optical assembly lines in addition to molding, nanomachining, testing and thin-film production lines. Consistent with our operating history, we plan to continue to automate additional aspects of our advanced manufacturing operations. Our existing facility has the capacity to add additional production lines and construct and operate pilot production lines for new components and sub-components, all designed to maximize the capacity of our manufacturing facility. Although our automation efforts are expected to reduce our costs of goods, we may not fully recognize the anticipated savings when planned and could experience additional costs or disruptions to our production activities.

 

12

 

 

Competition

 

We compete with traditional glass optic manufacturers and electro-optic manufacturers, who primarily either import their products or components or manufacture products under a private label. As we continue to expand into new markets, develop new products and move towards production of our polymer based and glass-polymer based optic hybrids and photonics enabled components and sub-components, we will experience competition with a wider range of companies. These competitors may have greater resources than we do and may be able to devote greater resources to the development of their current and future technologies. Our competitors may be able to source materials and components at lower costs, which may require us to evaluate measures to reduce our own costs, lower the price of our products or increase sales volumes in order to maintain our expected levels of profitability.

 

Research and Development

 

Our research and development are primarily focused on the advanced manufacturing of polymer and glass-polymer based optic and photonics enabled components and sub-components. The next stage in our technical development is to construct our products to optimize performance, lower weight and increase longevity to meet and exceed industry standards for our target end markets. Ongoing testing and optimizing of more complicated systems and sub-systems for our existing end markets will assist us in increasing penetration in our current end markets and expanding into targeted end markets.

 

Components of Results of Operations

 

Net Sales

 

Net sales are primarily generated from the sale of our optics and photonics enabled components and sub-components to OEMs.

 

Cost of Goods Sold

 

Cost of goods sold includes the cost of raw materials and other components of our optic and photonic enabled components and sub-components, labor, overhead, utilities, and depreciation and amortization.

 

Gross Profit

 

Gross profit, calculated as net sales less cost of goods sold, may vary between periods and is primarily affected by various factors including average selling prices, product costs, product mix, customer mix and production volumes.

 

Operating Expenses

 

General and Administrative

 

General and administrative costs include personnel-related expenses attributable to our executive, finance, human resources, selling and marketing, and information technology organizations, certain facility costs, office related depreciation, and fees for professional services.

 

Total Other Income (Expense)

 

Other income (expense) consists primarily of interest expense and debt issuance costs.

 

Results of Operations

 

Comparisons for the Three Months Ended and Six Months Ended June 30, 2025 and 2024

 

The following table sets forth our results of operations for the three months ended June 30, 2025 and 2024, respectively. This data should be read together with our financial statements and related notes included elsewhere in this Quarterly Report and is qualified in its entirety by reference to such financial statements and related notes.

 

   Three Months Ended 
   June 30, 2025   % Net Sales   June 30, 2024   % Net Sales 
Net Sales  $6,559,455    100%  $7,006,000    100%
Cost of Goods Sold   4,961,489    76%   4,831,673    69%
Gross Profit   1,597,966    24%   2,174,327    31%
General and Administrative Expenses   1,744,216    27%   2,015,783    29%
(Loss) Income from Operations   (146,250)   -2%   158,544    2%
Other Income (Expense)                    
Interest Expense, Including Amortization of Debt Issuance Costs   (208,969)   -3%   (167,242)   -2%
Other Income   11,298    0%   319,623    5%
Total Other Income (Expense), Net   (197,671)   -3%   152,381    2%
(Loss) Income Before Provision for (Benefit) Income Taxes   (343,921)   -5%   310,925    4%
Provision (Benefit) for Income Taxes   -    0%   29,082    0%
Net (Loss) Income  $(343,921)   -5%  $281,843    4%

 

   Six Months Ended 
   June 30, 2025   % Net Sales   June 30, 2024   % Net Sales 
Net Sales  $13,628,497    100%  $13,261,908    100%
Cost of Goods Sold   9,721,913    71%   10,380,138    78%
Gross Profit   3,906,584    29%   2,881,770    22%
General and Administrative Expenses   3,524,382    26%   4,130,326    31%
Income (Loss) from Operations   382,202    3%   (1,248,556)   -9%
Other Income (Expense)                    
Interest Expense, Including Amortization of Debt Issuance Costs   (409,865)   -3%   (327,109)   -2%
Other Income   16,995    0%   338,972    3%
Total Other (Expense)   (392,870)   -3%   11,863    0%
Loss Before Provision for (Benefit) Income Taxes   (10,668)   0%   (1,236,693)   -9%
Provision (Benefit) for Income Taxes   9,588    0%   (309,393)   -2%
Net Loss  $(20,256)   0%  $(927,300)   -7%

 

13

 

 

Net Sales

 

Net sales decreased by $0.4 million, or 6.4%, to $6.6 million for the three months ended June 30, 2025, as compared to $7.0 million for the three months ended June 30, 2024. This decrease was primarily due to decreases in consumer markets of $1.0 million partially offset by increases in communications markets of $0.3 million and in defense of $0.2 million.

 

Net sales increased by $0.4 million, or 2.8%, to $13.6 million for the six months ended June 30, 2025, as compared to $13.3 million for the six months ended June 30, 2024. This increase was primarily due to an increase of $1.4 million spread across the defense, medical and communication end markets, offset by a decrease in the consumer market of $1.0 million.

 

Cost of Goods Sold

 

Cost of revenue increased by $0.2 million, to $5.0 million for the three months ended June 30, 2025, as compared to $4.8 million for the three months ended June 30, 2024. This increase was primarily due to an increase of in material costs. For six months ending June 30, 2025 the cost of revenue decreased by $0.7 million driven by decreases in manufacturing overhead costs partially offset by an increase in material costs.

 

Gross Profit

 

Gross profit decreased by $0.6 million, or 26.5%, to $1.6 million for the three months ended June 30, 2025, as compared to $2.2 million for the three months ended June 30, 2024. This decrease was primarily due to the decrease in revenue and the increase in costs of goods sold. For the six months ending June 30, 2025 gross profit increased by $1.0 million driven by both the volume increase and the reductions in manufacturing overhead costs.

 

General and Administrative Expenses

 

General and administrative expenses decreased by $0.3 million, or 13.5%, to $1.7 million for the three months ended June 30, 2025, as compared to $2.0 million for the three months ended June 30, 2024. This decrease was primarily due to an approximately $0.04 million decrease in computer and supplies, a $0.13 million decrease in professional fees, a $0.02 million reduction in health care costs and a $0.07 million savings in advertising and marketing expenses. For the six months ending June 30, 2025 general and administrative expenses of $3.5 million were down $0.6 million from 2024 driven by a $0.4 million decrease in outside services and consulting, $0.1 million decrease in insurance costs, and a $0.1 million decrease in travel expenses.

 

Total Other Income (Loss)

 

Other income (expense) decreased by $0.35 million or (230%) to a $0.2 million expense for the three months ended June 30, 2025. This decrease was primarily due to a book gain on the sale of assets in 2024. Other expenses for the six months ended June 30, 2025 of $0.4 million increased by $0.4 million for primarily the same reason.

 

Income Tax Expense (Benefit)

 

Income tax expense decreased by $0.03 million, to zero for the three months ended June 30, 2025, as compared to $0.03 million for the three months ended June 30, 2024. This decrease was primarily due to the decrease in net income. For the six months ended June 30, 2025 income tax expense of $0.09 million compared to an income tax benefit of $0.3 million in 2024. The increase in income tax expense was driven by the increased profitability.

 

Net Income (Loss)

 

Net loss decreased by $0.6 million, or 222%, to $0.3 million for the three months ended June 30, 2025, as compared to a $0.3 million net income for the three months ended June 30, 2024. This decrease was primarily due to a decline in sales of $0.4 million, an increase in cost of goods sold of $0.1 million, an increase in interest expense of $0.42 million and a reduction of other income of $0.3 million, offset by a decrease in general and administrative expenses of $0.2 million and an increase in other income (expense) of $0.03 million.

 

For the six months ended June 30, 2025, Net loss decreased by $0.9 million to $0.02 million as compared to $0.9 million net loss in 2024. The decrease was driven by a $1.0 million increase in gross profit and a $0.6 million decrease in general and administrative costs, partially offset by a $0.4 million reduction in other expenses and a $0.3 million increase in income tax expense.

 

Critical Accounting Estimates

 

Our condensed consolidated financial statements have been prepared in accordance with generally accepted accounting principles in the United States. The preparation of these condensed consolidated financial statements requires us to make judgments and estimates that affect the reported amounts of assets, liabilities, revenues and expenses, and the disclosure of contingent assets and liabilities in our financial statements. We base our estimates on historical experience, known trends and events and various other factors that we believe are reasonable under the circumstances, the results of which form the basis for making judgments about the carrying values of assets and liabilities that are not readily apparent from other sources. Our actual results may differ from these estimates under different assumptions or conditions. On a recurring basis, we evaluate our judgments and estimates in light of changes in circumstances, facts, and experience. The effects of material revisions in an estimate, if any, will be reflected in the consolidated financial statements prospectively from the date of the change in the estimate.

 

We believe that the following accounting policies are those most critical to the judgments and estimates used in the preparation of our financial statements.

 

Inventory Valuation

 

We periodically review physical inventory for excess, obsolete, and potentially impaired items and reserves. Any such inventory is written down to net realizable value. The reserve estimate for excess and obsolete inventory is dependent on expected future use and requires management judgement.

 

14

 

 

Income Taxes

 

We account for income taxes using the asset and liability method. Under this method, deferred tax assets and liabilities are recognized for the future tax consequences of temporary differences between the carrying amounts and tax bases of assets and liabilities using enacted rates. The effect of a change in tax rates on deferred taxes is recognized in income in the period that includes the enactment date.

 

We recognize the financial statement effect of an uncertain income tax position when it is more likely than not, based on the technical merits, that the position will be sustained upon examination. Recognized income tax positions are measured at the largest amount that is greater than 50% likely to be realized. A valuation allowance is recorded to reduce deferred income tax assets to an amount, which in the opinion of management is more likely than not to be realized.

 

Management judgment is required in determining our provision for income taxes, our deferred tax assets and liabilities, and any valuation allowance recorded against our deferred tax assets. We consider factors such as the cumulative income or loss in recent years; reversal of deferred tax liabilities; projected future taxable income exclusive of temporary differences; the character of the income tax asset, including income tax positions; tax planning strategies and the period over which we expect the deferred tax assets to be recovered in the determination of the valuation allowance. In the event that actual results differ from these estimates, or we adjust our estimates in the future, we may need to adjust our valuation allowance, which could materially impact our financial position and results of operations.

 

Non-GAAP Financial Measures

 

This Quarterly Report includes a non-generally accepted account principles within the United States (“U.S. GAAP”) measure that we use to supplement our results presented in accordance with U.S. GAAP. EBITDA is defined as earnings before interest and other income, tax and depreciation and amortization. Adjusted EBITDA is calculated as EBITDA adjusted for non-recurring items, and business combination expenses. Adjusted EBITDA is a performance measure that we believe is useful to investors and analysts because it illustrates the underlying financial and business trends relating to our core, recurring results of operations and enhances comparability between periods.

 

Adjusted EBITDA is not a recognized measure under U.S. GAAP and is not intended to be a substitute for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Investors should exercise caution in comparing our non-GAAP measure to any similarly titled measure used by other companies. This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as an alternative to information reported in accordance with U.S. GAAP.

 

Adjusted EBITDA

 

We define adjusted EBITDA, a non-GAAP financial measure, as net earnings (loss) before interest and other expenses, net, income tax expense, depreciation and amortization, as adjusted to exclude non-recurring items. We utilize adjusted EBITDA as an internal performance measure in the management of our operations because we believe the exclusion of these non-cash and non-recurring charges allow for a more relevant comparison of our results of operations to other companies in our industry and is in accordance with the Non-GAAP Financial Measures Compliance & Disclosure Interpretations (Reference Question 102.03).

 

The Company has identified several non-recurring items included in our non-GAAP adjusted EBITDA financial measure. These items encompass management fees, professional & transaction fees, technology start-up costs, optical molding evaluation expenses, glass molding evaluation expenses, and executive transition expenses.

 

The table below presents our adjusted EBITDA, reconciled to net income for the three and six months ended June 30, 2025 and 2024.

 

NON-GAAP RECONCILIATION OF EBITDA

FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025 AND 2024

 

   Three Months Ended   Six Months Ended 
   June 30, 2025   June 30, 2024   June 30, 2025   June 30, 2024 
Net (Loss) Income  $(343,921)  $281,843   $(20,256)  $(927,300)
Depreciation & Amortization   676,623    692,194    1,387,427    1,389,993 
Debt Issuance Costs   2,418    -    4,834    - 
Interest Expenses   207,623    164,828    409,579    322,722 
Taxes   -    29,082    9,588    (309,393)
Non-Recurring Items                    
Executive Transition  135,246    -   249,189    

-

 
One time Contract exit costs   11,750    -    21,063    -

 
Non-recurring property damage   -    -    21,261    

-

 
Professional & Transaction Fees   

-

    -    -

    25,265 
Technology Start-up Costs   

-

   -    -

   165,034 
Optical Molding Evaluation Expenses    

-

   -    

-

   38,104 
Glass Molding Evaluation Expenses   

-

   -    

-

   68,392 
Adjusted EBITDA  $689,739   $1,167,947   $2,082,685   $772,817 

 

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Liquidity and Capital Resources

 

Liquidity describes the ability of a company to generate sufficient cash flows to meet the cash requirements of its business operations, including working capital needs, debt service, acquisitions, contractual obligations and other commitments. We assess liquidity in terms of our cash flows from operations and their sufficiency to fund our operating and investing activities. As of June 30, 2025, our principal sources of liquidity were cash totaling $0.3 million and a line of credit with $1.7 million available.

 

Significant factors affecting the management of our ongoing cash requirements are the adequacy of available bank lines of credit and our ability to attract long-term capital with satisfactory terms. The sources of our liquidity are subject to all of the risks of our business and could be adversely affected by, among other factors, risks associated with events outside of our control, such as economic consequences of global pandemics and geopolitical conflicts, monetary policy changes in the U.S. and other countries and their impact on the global financial markets, supply chain disruptions and electronics and other material shortages, a decrease in demand for our products, our ability to integrate current and future acquisitions, deterioration in certain financial ratios, availability of borrowings under our revolving credit facility, and other market changes in general. See “Risks Relating to Syntec Optics’ Financial Position and Capital Requirements” included in Item 1A of our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

 

Cash Flow — Six Months Ended June 30, 2025 and 2024

 

   Six Months ending June 30 
   2025   2024 
Net Cash Provided by Operating Activities  $141,241   $(1,983,883)
Net Cash Used in Investing Activities  $(604,772)  $54,233
Net Cash used in Financing Activities  $151,829   $601,884

 

Operating Activities

 

Net cash provided by operating activities was $0.14 million for the six months ended June 30, 2025, as compared to net cash used by operating activities of $1.98 million for the six months ended June 30, 2024. The primary drivers for the year-over-year change were a $0.9 million net improvement in net income as well as other favorable changes to balance sheet accounts including accounts receivable, and inventory.

 

Investing Activities

 

Net cash used by investing activities was $0.6 million for the six months ended June 30, 2025, as compared to net cash provided by investing activities of $0.5 million for the six months ended June 30, 2024. The net cash used in investing activities increased due to decrease in payment of capital expenditures of $0.3 million and a sale of equipment in 2024 of $0.3 million.

 

Financing Activities

 

Net cash provided by financing activities was $0.15 million for the six months ended June 30, 2025, as compared to net cash provided in financing activities of $0.60 million for the six months ended June 30, 2024. The primary drivers for the year-over-year change was lower net new borrowing on credit facilities.

 

Item 3. Quantitative and Qualitative Disclosures about Market Risk

 

Our primary market risk exposure is interest rate sensitivity. During the six months ended June 30, 2025, there have been no material changes to the information included under Part II, Item 7A, “Quantitative and Qualitative Disclosures About Market Risk,” in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

 

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Item 4. Controls and Procedures

 

Evaluation of Disclosure Controls and Procedures

 

As required by Rule 13a-15 under the Exchange Act, we have carried out an evaluation of the effectiveness of our disclosure controls and procedures as of the end of the period covered by this Report. This evaluation was carried out under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial Officer.

 

Disclosure controls and procedures are controls and other procedures that are designed to ensure that information required to be disclosed in our reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported, within the time periods specified in the SEC’s rules and forms. Disclosure controls and procedures include controls and procedures designed to ensure that information required to be disclosed in our Company’s reports filed under the Exchange Act is accumulated and communicated to management, including our Chief Executive Officer and Chief Financial Officer, to allow timely decisions regarding required disclosure. In designing and evaluating the disclosure controls and procedures, management recognizes that any controls and procedures, no matter how well designed and operated, cannot provide absolute assurance that the objectives of the controls system are met, and no evaluation of controls can provide absolute assurance that all control issues and instances of fraud, if any, within a company have been detected. Based on the evaluation of our disclosure controls and procedures as of June 30, 2025, our Chief Executive Officer and our Chief Financial Officer concluded that, as of such date, our disclosure controls and procedures were not effective due to the following identified material weaknesses:

 

  1. We lack documentation of formal internal control process and controls including lack of review of journal entries.
  2. We lack necessary corporate accounting resources to maintain adequate segregation of duties.
  3. We lack timely reconciliation controls in the areas of classification of revenue, accounts payable, accrued legal expenses, provision for income taxes, and inventory.
  4. We lack controls related to proper cut-off of costs of goods sold and general and administrative expenses.
  5. We lack control related to identification and disclosure of related party transactions.
  6. We lack control related to proper fair value methodology utilized for valuation of complex financial instrument in connection with contingent earnout arrangement.
  7. We lack the necessary information technology (“IT”) general controls infrastructure in the areas of user access and program change-management due to insufficient documentation and training, and inadequate IT risk assessment process. Additionally, we lack controls around the review of SOC-1 reports and lack of cyber security related controls.
  8. We lack control related to the evaluation and calculation of finance leases in accordance with Accounting Standards Codification 842-20-25-1a.
  9. We lack control related to identification of stock-based compensation agreements and related accounting for and disclosure of such agreements.

 

Remediation Plans and Status

 

As disclosed in the section titled “Evaluation of Internal Controls and Procedures,” we have identified certain control deficiencies. To address these issues, we have designed and are in the process of implementing the following remediation initiatives, which are aligned with the COSO framework:

 

  ● Enhance corporate governance through increased oversight by the Audit Committee, including additional reviews of internal control improvements and financial statements prior to publication (Control Environment; Monitoring Activities).
  ● Design and implement internal control flowcharts to strengthen segregation of duties (Control Activities; Risk Assessment).
  ● Increase staffing levels and competencies to enable appropriate separation of duties (Control Environment; Control Activities).
  ● Implement a formal checklist, review process, and controls over all journal entries and modifications to trial balances (Control Activities; Information & Communication).
  ● Hire additional experienced accounting and reporting professionals to prepare and approve consolidated financial statements and footnote disclosures in accordance with U.S. GAAP (Control Environment; Control Activities).
  ● Engage outside professional support to assist with SEC reporting requirements and special circumstances to ensure timely and accurate filings (Control Environment; Information & Communication).
  ● Establish a formal quarterly attestation process for managers and accounting staff to reinforce and monitor the use of control processes and workflows (Monitoring Activities; Information & Communication).
  ● Implement a formalized system for tracking control measures to reduce complexity and improve management’s review of control effectiveness (Monitoring Activities; Information & Communication).

 

While the Company has initiated these remediation efforts, not all measures have been fully implemented as of the date of this filing. We will continue to enhance our internal control framework, employ additional procedures, and utilize appropriate tools and resources to ensure that our consolidated financial statements are presented fairly, in all material respects.

 

The Company believes these remediation measures will significantly strengthen its internal control environment and provide the foundation to remediate the identified material weaknesses in future reporting periods.

 

Management’s Report on Internal Control over Financial Reporting

 

This Report does not include a report of management’s assessment regarding internal control over financial reporting or an attestation report of the Company’s registered public accounting firm due to a transition period established by rules of the SEC for newly public companies. Additionally, our auditors will not be required to formally opine on the effectiveness of our internal control over financial reporting pursuant to Section 404 until we are no longer an “emerging growth company” as defined in the JOBS Act.

 

Changes in Internal Control over Financial Reporting

 

Other than the material weaknesses and remediation efforts mentioned above, there were no changes in our internal controls over financial reporting that occurred during the quarter ended June 30, 2025 that materially affected, or are reasonably likely to materially affect, our internal control over financial reporting.

 

17

 

 

PART II - OTHER INFORMATION

 

Item 1. Legal Proceedings

 

We may be subject to legal proceedings, investigations and claims incidental to the conduct of our business from time to time. We are not currently a party to any material litigation or other legal proceedings brought against us. We are also not aware of any legal proceeding, investigation or claim, or other legal exposure that has a more than remote possibility of having a material adverse effect on our business, financial condition or results of operations.

 

Item 1A. Risk Factors

 

The Company’s risk factors are described in Part I, Item 1A, “Risk Factors”, of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024. The risks described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024 are not the only risks we face. Additional risks and uncertainties not currently known to us or that we currently deem to be immaterial also may materially adversely affect our business, financial position, or future results of operations. The risk factors should be read together with, the risk factors described in our Annual Report on Form 10-K for the fiscal year ended December 31, 2024.

 

Item 2. Unregistered Sales of Equity Securities and Use of Proceeds

 

None

 

Item 3. Defaults Upon Senior Securities

 

None

 

Item 4. Mine Safety Disclosures

 

Not Applicable

 

Item 5. Other Information

 

None

 

Item 6. Exhibits

 

The following exhibits are filed as part of, or incorporated by reference into, this Quarterly Report on Form 10-Q.

 

No.   Description of Exhibit
3.1*   Certificate of Incorporation of the Registrant, dated October 31, 2023
3.2*   By laws of the Registrant, dated October 31, 2023
31.1*   Certification of Principal Executive Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
31.2*   Certification of Principal Financial Officer Pursuant to Securities Exchange Act Rules 13a-14(a), as adopted Pursuant to Section 302 of the Sarbanes-Oxley Act of 2002
32.1**   Certification of Principal Executive Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002
32.2**   Certification of Principal Financial Officer Pursuant to 18 U.S.C. Section 1350, as adopted Pursuant to Section 906 of the Sarbanes-Oxley Act of 2002

 

101.INS   Inline XBRL Instance Document
101.SCH   Inline XBRL Taxonomy Extension Schema Document
101.CAL   Inline XBRL Taxonomy Extension Calculation Linkbase Document
101.DEF   Inline XBRL Taxonomy Extension Definition Linkbase Document
101.LAB   Inline XBRL Taxonomy Extension Label Linkbase Document
101.PRE   Inline XBRL Taxonomy Extension Presentation Linkbase Document
104   Cover Page Interactive Data File (embedded within the Inline XBRL document)

 

* Filed herewith.
   
** Furnished.

 

18

 

 

SIGNATURES

 

In accordance with the requirements of the Exchange Act, the registrant caused this report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

  SYNTEC OPTICS HOLDINGS, INC
     
Date: October 3, 2025 By: /s/ Al Kapoor
  Name: Al Kapoor
  Title: Chairman and Chief Executive Officer
    (Principal Executive Officer)
     
Date: October 3, 2025 By: /s/ Dean Rudy
  Name: Dean Rudy
  Title: Chief Financial Officer
    (Principal Accounting Officer and Financial Officer)

 

19

 

Source: View Original Filing on SEC EDGAR

FAQ

What is SYNTEC OPTICS (OPTX) outstanding share count?

The company reported 36,920,226 Class A common shares issued and outstanding as of June 30, 2025.

How much was drawn on SYNTEC OPTICS' credit facility at June 30, 2025?

The company had $6,763,863 outstanding under an $8.0M line of credit with M&T Bank as of June 30, 2025.

What is SYNTEC OPTICS' reported weighted average borrowing rate?

The weighted average rate on outstanding borrowings as of June 30, 2025 was 7.31%.

How concentrated are SYNTEC OPTICS' revenues?

Approximately 41%-43% of revenues came from three customers, with related receivables of about $2.8M as of June 30, 2025.

What is the level of the company's long-term debt?

Total long-term debt disclosed was $2,915,882, with long-term debt, net of issuance costs, of $2,855,958.
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Syntec Optics Holdings

NASDAQ:OPTX

OPTX Rankings

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OPTX Latest SEC Filings

Oct 6, 2025
[8-K] SYNTEC OPTICS HOLDINGS, INC. Reports Material Event
Oct 3, 2025
[10-K] SYNTEC OPTICS HOLDINGS, INC. Files Annual Report
Oct 3, 2025
[10-Q] SYNTEC OPTICS HOLDINGS, INC. Quarterly Earnings Report
Oct 2, 2025
[8-K] SYNTEC OPTICS HOLDINGS, INC. Reports Material Event
Sep 24, 2025
[8-K] SYNTEC OPTICS HOLDINGS, INC. Reports Material Event

OPTX Stock Data

57.60M
6.06M
83.49%
0.98%
0.1%
Electronic Components
Optical Instruments & Lenses
Link
United States
MIAMI BEACH