Precision Optics Reports Fourth Quarter And Fiscal Year 2025 Financial Results
| Three Months | Year | |||||||||||||
| Ended June 30 | Ended June 30 | |||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||
| Revenues | $ | 6,181,342 | $ | 4,716,225 | $ | 19,091,269 | $ | 19,104,350 | ||||||
| Gross Profit | 799,187 | 1,024,450 | 3,404,433 | 5,797,778 | ||||||||||
| Stock Compensation Expenses | 439,873 | 210,393 | 1,612,106 | 959,784 | ||||||||||
| Other | 1,715,356 | 2,170,409 | 7,343,618 | 7,562,326 | ||||||||||
| Total Operating Expenses | 2,155,229 | 2,380,802 | 8,955,724 | 8,522,110 | ||||||||||
| Operating Income (Loss) | (1,356,042 | ) | (1,356,352 | ) | (5,551,291 | ) | (2,724,332 | ) | ||||||
| Net Income (Loss) | (1,402,555 | ) | (1,411,106 | ) | (5,780,246 | ) | (2,951,377 | ) | ||||||
| Income (Loss) per Share | ||||||||||||||
| Basic & Fully Diluted | $ | (0.18 | ) | $ | (0.23 | ) | $ | (0.85 | ) | $ | (0.49 | ) | ||
| Weighted Average Common Shares Outstanding | ||||||||||||||
| Basic & Fully Diluted | 7,690,084 | 6,071,846 | 6,790,466 | 6,068,329 |
Conference Call Details
Date and Time : Monday, September 29, 2025, at 5:00 p.m. ET.
Call-in Information : Interested parties can access the conference call by dialing (844) 735-3662 or
(412) 317-5705.
Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available at .
Replay: A teleconference replay of the call will be available for seven days, at (877) 344-7529 or (412) 317-0088, replay access code 3770234. A webcast replay will be available at .
About Precision Optics Corporation
Founded in 1982, Precision Optics is a vertically integrated optics company primarily focused on leveraging its proprietary micro-optics, 3D imaging and digital imaging technologies to the healthcare and defense/aerospace industries by providing services ranging from new product concept through mass manufacture. Utilizing its leading-edge in-house design, prototype, regulatory and fabrication capabilities as well as its Ross Optical division's high volume world-wide sourcing, inspecting and production resources, the Company is able to design and manufacture next-generation product solutions to the most challenging customer requirements. Within healthcare, Precision Optics enables next generation medical device companies around the world to meet the increasing demands of the surgical community who require more enhanced and smaller imaging systems for minimally invasive surgery as well as 3D endoscopy systems to support the rapid proliferation of surgical robotic systems. In addition to these next generation applications, Precision Optics has supplied top tier medical device companies a wide variety of optical products for decades, including complex endocouplers and specialized endoscopes. The Company is also leveraging its technical proficiency in micro-optics to enable leading edge defense/aerospace applications which require the highest quality standards and the optimization of size, weight and power. For more information, please visit .
Non-GAAP Financial Measures
Precision Optics has provided in this press release financial information that has not been prepared in accordance with accounting principles generally accepted in the Unites States of America (“non-GAAP”). The non-GAAP financial measure is Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization). In addition to the aforementioned items, Adjusted EBITDA also excludes from Net Income (Loss) the effect of stock-based compensation.
This non-GAAP financial measure assists Precision Optics management in comparing its operating performance over time because certain items may obscure the underlying business trends and make comparisons of long-term performance difficult, as they are of a nature and/or size that occur with inconsistent frequency or relate to discrete acquisition or restructuring plans that are fundamentally different from the ongoing productivity of the Company. Precision Optics management also believes that presenting this measure allows investors to view its performance using the same measures that the Company uses in evaluating its financial and business performance and trends.
Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information calculated in accordance with GAAP. Investors are encouraged to review the reconciliation of non-GAAP measures to their most directly comparable GAAP financial measures. A reconciliation of the non-GAAP financial measure presented above to GAAP results has been provided in the financial tables included with this press release.
About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws. Any statements contained herein that are not statements of historical fact may be deemed to be forward-looking statements. In addition, any statements that refer to projections, forecasts, or other characterizations of future events or circumstances, including any underlying assumptions, are forward-looking statements. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intends," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions may identify forward-looking statements, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements in this press release include, without limitation, the Company's projections for future revenue, gross margins and Adjusted EBITDA. The forward-looking statements contained in this press release are based on certain assumptions and analyses made by the management of the Company in light of their respective experience and perception of historical trends, current conditions, and expected future developments and their potential effects on the Company as well as other factors they believe are appropriate in the circumstances. There can be no assurance that future developments affecting the Company will be those anticipated. These forward-looking statements involve a number of risks, uncertainties (some of which are beyond the control of the parties), or other assumptions that may cause actual results or performance to be materially different from those expressed or implied by these forward-looking statements, including the demand for the Company's products, global supply chains and economic activity in general and other risks and uncertainties identified in the Company's filings with the SEC. Should one or more of these risks or uncertainties materialize or should any of the assumptions being made prove incorrect, actual results may vary in material respects from those projected in these forward-looking statements. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise, except as may be required under applicable securities laws.
Company Contact:
PRECISION OPTICS CORPORATION
22 East Broadway
Gardner, Massachusetts 01440-3338
Telephone: 978-630-1800
Investor Contact:
LYTHAM PARTNERS, LLC
Robert Blum
Telephone: 602-889-9700
...
| PRECISION OPTICS CORPORATION, INC. Balance Sheets at June 30, 2025 and 2024 | ||||||||
| 2025 | 2024 | |||||||
| ASSETS | ||||||||
| Current Assets: | ||||||||
| Cash and cash equivalents | $ | 1,773,735 | $ | 405,278 | ||||
| Accounts receivable, net of allowance for credit losses of $80,192 at June 30, 2025 and $118,872 at June 30, 2024 | 4,336,730 | 3,545,491 | ||||||
| Inventories, net | 3,562,112 | 2,868,100 | ||||||
| Prepaid expenses | 385,390 | 299,364 | ||||||
| Total current assets | 10,057,967 | 7,118,233 | ||||||
| Fixed Assets: | ||||||||
| Machinery and equipment | 3,385,958 | 3,341,194 | ||||||
| Leasehold improvements | 871,356 | 810,914 | ||||||
| Furniture and fixtures | 538,428 | 416,425 | ||||||
| 4,795,742 | 4,568,533 | |||||||
| Less-Accumulated depreciation and amortization | 4,261,950 | 4,074,960 | ||||||
| Net fixed assets | 533,792 | 493,573 | ||||||
| Operating lease right-of-use asset | 141,825 | 189,999 | ||||||
| Patents, net | 232,493 | 286,559 | ||||||
| Goodwill | 8,824,210 | 8,824,210 | ||||||
| Total other assets | 9,198,528 | 9,300,768 | ||||||
| TOTAL ASSETS | $ | 19,790,287 | $ | 16,912,574 | ||||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||||
| Current Liabilities: | ||||||||
| Revolving line of credit | $ | – | $ | 1,000,000 | ||||
| Current portion of capital lease obligation | 27,368 | 41,113 | ||||||
| Current maturities of long-term debt | 577,898 | 276,928 | ||||||
| Accounts payable | 2,909,100 | 1,397,313 | ||||||
| Customer advances | 1,821,929 | 1,172,350 | ||||||
| Accrued compensation and other | 764,004 | 840,662 | ||||||
| Operating lease liability | 50,995 | 178,450 | ||||||
| Total current liabilities | 6,151,294 | 4,906,816 | ||||||
| Capital lease obligation, net of current portion | – | 27,369 | ||||||
| Long-term debt, net of current maturities | 1,289,205 | 1,899,052 | ||||||
| Operating lease liability, net of current portion | 90,954 | 11,549 | ||||||
| Total liabilities | 7,531,453 | 6,844,786 | ||||||
| Stockholders' Equity: | ||||||||
| Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 7,714,701 shares at June 30, 2025 and 6,073,939 shares at June 30, 2024 | 77,147 | 60,739 | ||||||
| Additional paid-in capital | 69,152,317 | 61,197,433 | ||||||
| Accumulated deficit | (56,970,630 | ) | (51,190,384 | ) | ||||
| Total stockholders' equity | 12,258,834 | 10,067,788 | ||||||
| TOTAL LIABILITIES AND STOCKHOLDERS' EQUITY | $ | 19,790,287 | $ | 16,912,574 |
| PRECISION OPTICS CORPORATION, INC. Statements of Operations for the Years Ended June 30, 2025 and 2024 | ||||||||
| 2025 | 2024 | |||||||
| Revenues | $ | 19,091,269 | $ | 19,104,350 | ||||
| Cost of goods sold | 15,686,836 | 13,306,573 | ||||||
| Gross profit | 3,404,433 | 5,797,777 | ||||||
| Research and development expenses, net | 1,157,963 | 981,781 | ||||||
| Selling, general and administrative expenses | 7,797,761 | 7,540,329 | ||||||
| Total operating expenses | 8,955,724 | 8,522,110 | ||||||
| Operating loss | (5,551,291 | ) | (2.724,333 | ) | ||||
| Other expense | ||||||||
| Interest expense | (227,019 | ) | (225,108 | ) | ||||
| Loss before provision for income taxes | (5,778,310 | ) | (2,949,441 | ) | ||||
| Provision for income taxes | 1,936 | 1,936 | ||||||
| Net loss | $ | (5,780,246 | ) | $ | (2,951,377 | ) | ||
| Loss per share: | ||||||||
| Basic and fully diluted | $ | (0.85 | ) | $ | (0.49 | ) | ||
| Weighted average common shares outstanding: | ||||||||
| Basic and fully diluted | 6,790,466 | 6,068,329 |
| PRECISION OPTICS CORPORATION, INC. Statements of Stockholders' Equity for the Years Ended June 30, 2025 and 2024 | ||||||||||||||||||||
| Number of Shares | Common Stock | Additional Paid-in Capital | Accumulated Deficit | Total Stockholders' Equity | ||||||||||||||||
| Balance, June 30, 2023 | 6,066,518 | $ | 60,665 | $ | 60,224,934 | $ | (48,239,007 | ) | $ | 12,046,592 | ||||||||||
| Proceeds from exercise of stock option | 4,333 | 43 | 12,746 | – | 12,789 | |||||||||||||||
| Exercise of stock options net of 2,916 shares withheld | 3,088 | 31 | (31 | ) | – | – | ||||||||||||||
| Stock-based compensation | – | – | 959,784 | – | 959,784 | |||||||||||||||
| Net loss | – | – | – | (2,951,377 | ) | (2,951,377 | ) | |||||||||||||
| Balance, June 30, 2024 | 6,073,939 | $ | 60,739 | $ | 61,197,433 | $ | (51,190,384 | ) | $ | 10,067,788 | ||||||||||
| Issuance of common stock in a registered direct offering | 1,538,368 | 15,384 | 6,254,752 | – | 6,270,136 | |||||||||||||||
| Proceeds from exercise of stock option | 71,979 | 721 | 88,329 | – | 89,050 | |||||||||||||||
| Issuance of common stock for consulting services and employees | 30,415 | 303 | 151,395 | – | 151,698 | |||||||||||||||
| Stock-based compensation | – | – | 1,460,408 | – | 1,460,408 | |||||||||||||||
| Net loss | – | – | – | (5,780,246 | ) | (5,780,246 | ) | |||||||||||||
| Balance, June 30, 2025 | 7,714,701 | $ | 77,147 | $ | 69,152,317 | $ | (56,970,630 | ) | $ | 12,258,834 |
| PRECISION OPTICS CORPORATION, INC. Statements of Cash Flows For the Years Ended June 30, 2025 and 2024 | ||||||||
| 2025 | 2024 | |||||||
| Cash Flows from Operating Activities: | ||||||||
| Net loss | $ | (5,780,246 | ) | $ | (2,951,377 | ) | ||
| Adjustments to reconcile net loss to net cash (used in) provided by operating activities- | ||||||||
| Depreciation and amortization | 212,439 | 212,382 | ||||||
| Stock-based compensation expense | 1,460,408 | 959,784 | ||||||
| Non-cash legal expense | 34,881 | – | ||||||
| Non-cash interest expense | 11,563 | 17,504 | ||||||
| Non-cash operating lease expense | 124 | – | ||||||
| Changes in operating assets and liabilities: | ||||||||
| Accounts receivable, net | (791,239 | ) | 361,916 | |||||
| Inventories | (694,012 | ) | (91,884 | ) | ||||
| Prepaid expenses | (86,026 | ) | (49,683 | ) | ||||
| Accounts payable | 1,511,787 | (1,034,951 | ) | |||||
| Contract liabilities | 649,579 | (2,340 | ) | |||||
| Accrued compensation and other | (76,658 | ) | (104,363 | ) | ||||
| Net cash used in operating activities | (3,547,400 | ) | (2,683,012 | ) | ||||
| Cash Flows from Investing Activities: | ||||||||
| Reclassification/additional patent costs | (6,264 | ) | (21,448 | ) | ||||
| Purchases of property and equipment | (227,209 | ) | (272,435 | ) | ||||
| Net cash used in investing activities | (233,473 | ) | (293,883 | ) | ||||
| Cash Flows from Financing Activities: | ||||||||
| Payment of capital lease obligations | (41,114 | ) | (43,209 | ) | ||||
| Principal payments of long-term debt | (280,440 | ) | (513,259 | ) | ||||
| Payment of debt issuance costs | (40,000 | ) | – | |||||
| (Repayments)/Borrowings on line of credit | (1,000,000 | ) | 1,000,000 | |||||
| Gross proceeds from registered direct offerings of common stock | 6,270,136 | – | ||||||
| Stock issued for services | 151,698 | – | ||||||
| Gross proceeds from exercise of stock options | 89,050 | 12,789 | ||||||
| Net cash provided by financing activities | 5,149,330 | 456,321 | ||||||
| Net increase (decrease) in cash and cash equivalents | 1,368,457 | (2,520,574 | ) | |||||
| Cash and cash equivalents, beginning of year | 405,278 | 2,925,852 | ||||||
| Cash and cash equivalents, end of year | $ | 1,773,735 | $ | 405,278 | ||||
| Supplemental disclosure of cash flow information: | ||||||||
| Cash paid during the year for income taxes | $ | 1,936 | $ | 1,936 | ||||
| Cash paid during the year for interest | $ | 216,456 | $ | 207,604 | ||||
| Operating right-of-use assets obtained in exchange for operating lease liabilities | $ | 133,650 | $ | – |
| PRECISION OPTICS CORPORATION, INC. | |||||||||||||||||||
| RECONCILIATION OF GAAP TO NON-GAAP FINANCIAL MEASURES | |||||||||||||||||||
| ADJUSTED EBITDA | |||||||||||||||||||
| Three Months Ended | Year Ended | ||||||||||||||||||
| June 30 | June 30 | ||||||||||||||||||
| 2025 | 2024 | 2025 | 2024 | ||||||||||||||||
| Net Income (loss) (GAAP) | $ | (1,402,558 | ) | $ | (1,411,106 | ) | $ | (5,780,246 | ) | $ | (2,951,376 | ) | |||||||
| Stock based compensation | 439,873 | 210,393 | 1,612,106 | 959,784 | |||||||||||||||
| Depreciation and amortization | 60,263 | 55,796 | 212,439 | 212,382 | |||||||||||||||
| State Income Taxes | 1,936 | 1,936 | 1,936 | 1,936 | |||||||||||||||
| Interest expense | 44,576 | 52,818 | 227,019 | 225,108 | |||||||||||||||
| Adjusted EBITDA (non-GAAP) | $ | (855,910 | ) | $ | (1,090,163 | ) | $ | (3,726,746 | ) | $ | (1,552,166 | ) | |||||||
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