Optex Systems Holdings, Inc. Reports Financial Milestones for Q3 and Nine Months Ending June 30, 2024

RICHARDSON, TX / ACCESSWIRE / August 13, 2024 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a premier manufacturer of precision optical sighting systems, released its financial results for the three and nine months ending June 30, 2024.

The company reported an increase in its backlog to $45.6 million as of June 30, 2024, reflecting a rise of 9.1% since October 1, 2023. Third-quarter revenue rose by 26.3% to $9.1 million, driven by higher deliveries from both Optex Richardson and Applied Optics Center segments. Revenue for the nine-month period surged by 39.6% to $24.6 million.

Consolidated gross profit soared by 68.3% to $2.9 million in Q3 2024. For the nine-month period, gross profit rose by 78.8% to $7.1 million. Operating income saw significant improvements, increasing by 114.8% to $1.6 million for the quarter and by 224.4% to $3.5 million for the nine months.

The company ended Q3 with working capital of $14.2 million and operating cash provided by operations of $1.0 million. Net income increased by 118.9% to $1.3 million for the three months and by 231.0% to $2.8 million for the nine months. The adjusted EBITDA for Q3 nearly doubled to $1.8 million, and for the nine months, it rose by 187.0% to $4.2 million.