ROCHESTER, NEW YORK, Nov. 13, 2026 (GLOBE NEWSWIRE) — Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a provider of deep-tech products to industry pioneers connecting and protecting the world, today announced financial results for the third quarter ended September 30, 2026. Supporting mission-critical applications ranging from low-Earth-orbit satellites and bipartisan connected-battlefield defense platforms to life sciences, Syntec delivered an all-time high revenue of $8.5 million, up 23% year over year, and net income improved by $1.6 million to a positive net income of $0.2 million, compared with a $1.4 million net loss in the prior-year quarter. The quarter’s results reflect Syntec’s expanding role in next-generation bipartisan defense and space technologies, including continued growth in major programs of national importance like Artemis III, low-Earth orbit reconnaissance, satellite collision-avoidance, and AR/VR soldier gear. Syntec combined these achievements with lower selling, general, and administrative expenses. Overall cash reserves strengthened, growing by $0.3 million.
Earnings Call information:
Date: Tuesday, November 17, 2026
Time: 5:00 p.m. ET
Register in Advance (Required): https://us06web.zoom.us/meeting/register/wUCh5icdSQm20ccy7aOSoA
(After registering, you will receive a confirmation email containing information about joining the meeting.)
Webcast: A recording of the conference call will be available under the Latest Events section on the Investors page of Syntec Optics’ website at www.syntecoptics.com.
Replay: A replay of the webcast will be available approximately three hours after the call concludes. It will remain accessible until Tuesday, December 1, 2026, in the Investor Relations section of Syntec Optics’ website at www.syntecoptics.com.
“We are excited to be moving quickly with a well-disciplined execution plan, adding proven pioneering programs to existing customer products, all typical with a 7-10 year product life cycle and needing replacement over time,” said Matt Carey, Vice President of Business Development.
Gross profit for the quarter increased 127% year over year to $1.9 million. Gross margin nearly doubled compared with the prior-year quarter. Selling, general, and administrative expenses were $1.7 million, reduced by $0.3 million from the prior-year quarter. Adjusted EBITDA was $0.9 million, or 10% of revenue, compared with approximately break-even and an Adjusted EBITDA margin of nearly 0% in the prior-year quarter.
Beginning this quarter, we are presenting revenue across five end markets: Space Tech, Defense Tech, Life Sciences, AI Data Center, and Other Scientific Instruments. These categories will provide greater visibility into the markets served by our products and the demand drivers affecting our business going forward. Space Tech includes space-related communications, orbital safety, reconnaissance, and rockets. Defense Tech covers bipartisan, cross-administration, proven next-gen AI-driven AR/VR connected battlefield, night-vision, and other soldier gear. Together, Space Tech and Defense Tech represent 64% of our third-quarter revenues and are expected to continue driving our success in subsequent quarters.
Our fastest-growing end market is space technology. Syntec is excited to share that Space Tech revenue increased 117% year over year to $1.3 million. In Q3, Space Tech represented 15% of quarterly revenue and was the fastest-growing segment for the quarter. Our space products support low-Earth-orbiting satellites, debris detection and collision avoidance, reconnaissance, and lunar rocket hardware. In Q3, we announced orders that expand our participation in orbital safety and government satellite reconnaissance. These new product lines broaden our space business across multiple customer programs and mission requirements.
After quarter-end, we announced orders for a new program for our actuator products to support NASA’s Artemis III rockets. This program extends our space portfolio from satellites into hardware supporting lunar missions.
Defense Tech revenues increased 31% year over year to $4.2 million. This represents 49% of quarterly revenue. Our products support AI-enabled AR/VR soldier systems, night vision, missile guidance, and laser targeting products. Announcements during the year included camera and display-window products for military wearable systems, demonstrating expanded participation in customer platforms. Growth across established and newer applications supports our focus on supplying mission-critical products throughout customer program life cycles.
Our Life Sciences revenue increased 12% year over year to $2.7 million, representing 31% of quarterly revenue. Our product lines in this market serve blood diagnostics for early detection of disease, biomedical illumination and visualization, surgical robotics, DNA sequencing, ophthalmology, and veterinary care. These programs provide a substantial revenue base alongside our expanding defense and space base, giving Syntec a more diverse product mix.
AI Data Center revenue was $0.2 million. We expect this category to grow in the coming years as our products are deployed across multiple value chains within the data center. Activities include precision micro-connectors for transceivers and photonic integrated circuits, as well as optics supporting emerging orbital and earth-based fusion energy. A massive energy shortage is predicted by nearly all analysts, and Syntec plans to participate in next-generation products with cutting-edge pioneers. In August, we reported approximately $4.0 million in cumulative orders across the broader AI infrastructure “picks and shovels” opportunity since entering that market roughly two years ago.
Other scientific instruments revenue, which includes products for quantum computing applications, was $0.2 million.
The Company ended the quarter with $14.4 million in cash and cash equivalents, up from $14.0 million at the end of the second quarter. Operating activities generated $1.3 million of cash during the first nine months of the year. “Our strong cash position gives us the flexibility to invest alongside our customers as their next-generation technologies ramp up to high production volumes for 7-10 year product life cycles,” said Dean Rudy, Chief Financial Officer. “We see an opportunity to build on our momentum in defense and space by expanding our manufacturing capabilities, utilizing our open capacity, and pursuing complementary growth opportunities. Our focus is on translating that opportunity into sustained revenue growth and stronger profitability.”
In the fourth quarter and beyond, the company continues to add new programs to utilize our open capacity for long product life cycles.
About Syntec Optics
Headquartered in Rochester, N.Y., Syntec Optics Holdings, Inc. (NASDAQ: OPTX) is one of the nation’s largest bespoke makers of high-precision optics. It pushes the limits of light-based technologies to connect and protect the world. Syntec supports critical missions ranging from low-Earth-orbit satellites to advanced next-gen connected-battlefield defense platforms, moon rocket actuators, AI data centers, and life sciences. As light-enabled technologies continue to account for a significant portion of global economic output—representing nearly $20 trillion of the $111 trillion in total worldwide production as of 2024—Syntec Optics remains positioned at the forefront of the modern optical revolution.
For more information, visit syntecoptics.com.
Forward-Looking Statements
This press release contains certain “forward-looking statements” within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the “Securities Act”) and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact contained in this press release, including statements as to the intended use of net proceeds from the public offering, are forward-looking statements. Some of these forward-looking statements can be identified by the use of forward-looking words, including “may,” “should,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “plan,” “targets,” “projects,” “could,” “would,” “continue,” “forecast” or the negatives of these terms or variations of them or similar expressions. All forward-looking statements are subject to risks, uncertainties, and other factors (some of which are beyond the control of Syntec Optics), which could cause actual results to differ materially from those expressed or implied by such forward-looking statements. All forward-looking statements are based upon estimates, forecasts and assumptions that, while considered reasonable by Syntec Optics and its management, as the case may be, are inherently uncertain and many factors may cause the actual results to differ materially from current expectations which include, but are not limited to: 1) risk outlined in any prior SEC filings; 2) ability of Syntec Optics to successfully increase market penetration into its target markets; 3) the addressable markets that Syntec Optics intends to target do not grow as expected; 4) the loss of any key executives; 5) the loss of any relationships with key suppliers including suppliers abroad; 6) the loss of any relationships with key customers; 7) the inability to protect Syntec Optics’ patents and other intellectual property; 8) the failure to successfully execute manufacturing of announced products in a timely manner or at all, or to scale to mass production; 9) costs related to any further business combination; 10) changes in applicable laws or regulations; 11) the possibility that Syntec Optics may be adversely affected by other economic, business and/or competitive factors; 12) Syntec Optics’ estimates of its growth and projected financial results for the future and meeting or satisfying the underlying assumptions with respect thereto; 13) the impact of any pandemic, including any mutations or variants thereof and the Russian/Ukrainian or Israeli conflict, and any resulting effect on business and financial conditions; 14) inability to complete any investments or borrowings in connection with any organic or inorganic growth; 15) the potential for events or circumstances that result in Syntec Optics’ failure to timely achieve the anticipated benefits of Syntec Optics’ customer arrangements; and 16) other risks and uncertainties set forth in the sections entitled “Risk Factors” and “Cautionary Note Regarding Forward-Looking Statements” in prior SEC filings. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place undue reliance on forward-looking statements, which speak only as of the date they are made. Syntec Optics does not give any assurance that Syntec Optics will achieve its expected results. Syntec Optics does not undertake any duty to update these forward-looking statements except as otherwise required by law.
For further information, please contact:
Investor Relations
InvestorRelations@syntecoptics.com
SOURCE: Syntec Optics Holdings, Inc. (Nasdaq: OPTX)
SYNTEC OPTICS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 2026 AND DECEMBER 31, 2025
| 2026 (unaudited) |
2025 | |||||||
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash | $ | 14,357,869 | $ | 358,867 | ||||
| Accounts Receivable, net of allowance for expected credit losses of $269,013 and $133,022, respectively | 6,346,861 | 6,241,768 | ||||||
| Inventory, net | 7,365,004 | 7,884,943 | ||||||
| Prepaid Expenses and Other Assets | 393,345 | 655,827 | ||||||
| Total Current Assets | 28,463,079 | 15,141,405 | ||||||
| Property and Equipment, Net | 9,429,324 | 9,172,703 | ||||||
| Total Assets | $ | 37,892,403 | $ | 24,314,108 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $ | 1,677,772 | $ | 2,691,748 | ||||
| Accrued Expenses | 1,023,470 | 683,397 | ||||||
| Federal Income Tax Payable | 169,582 | 169,582 | ||||||
| Deferred Revenue | 124,044 | 66,420 | ||||||
| Line of Credit | – | 6,763,863 | ||||||
| Current Maturities of Debt Obligations | 96,541 | 93,358 | ||||||
| Current Maturities of Debt Obligations – Related Party | 481,225 | 406,495 | ||||||
| Current Maturities of Finance Lease Obligations | 376,598 | 354,499 | ||||||
| Total Current Liabilities | 3,949,232 | 11,229,362 | ||||||
| Long-Term Liabilities | ||||||||
| Long-Term Debt Obligations | 1,206,977 | 1,267,043 | ||||||
| Long-Term Debt Obligations – Related Party | 835,010 | 862,237 | ||||||
| Long-Term Finance Lease Obligations | 1,104,431 | 1,414,611 | ||||||
| Total Long-Term Liabilities | 3,146,418 | 3,543,891 | ||||||
| Total Liabilities | 7,095,650 | 14,773,253 | ||||||
| Stockholders’ Equity | ||||||||
| CL A Common Stock, Par value $.0001 per share; 121,000,000 authorized; 40,279,878 issued and outstanding as of September 30, 2026; 36,920,226 issued and outstanding as of December 31, 2025; | 4,028 | 3,692 | ||||||
| Additional Paid-In Capital | 24,327,789 | 2,677,181 | ||||||
| Retained Earnings | 6,464,936 | 6,859,982 | ||||||
| Total Stockholders’ Equity | 30,796,753 | 9,540,855 | ||||||
| Total Liabilities and Stockholders’ Equity | $ | 37,892,403 | $ | 24,314,108 | ||||
SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Net Sales | $ | 8,542,554 | $ | 6,950,220 | $ | 23,329,778 | $ | 20,578,717 | ||||||||
| Cost of Goods Sold | 6,599,592 | 6,095,861 | 18,282,960 | 15,817,774 | ||||||||||||
| Gross Profit | 1,942,962 | 854,359 | 5,046,818 | 4,760,943 | ||||||||||||
| General and Administrative Expenses | 1,730,807 | 2,072,962 | 5,289,322 | 5,597,344 | ||||||||||||
| Income (Loss) from Operations | 212,155 | (1,218,603 | ) | (242,504 | ) | (836,401 | ) | |||||||||
| Other (Expense) Income | ||||||||||||||||
| Other Income (Expense) | (18,500 | ) | 1,162 | 49,248 | 9,124 | |||||||||||
| Interest Income | 124,008 | 2,733 | 203,742 | 11,766 | ||||||||||||
| Interest Expense, Including Amortization of Debt Issuance Costs | (71,089 | ) | (214,425 | ) | (405,532 | ) | (624,290 | ) | ||||||||
| Total Other Income (Expense) | 34,419 | (210,530 | ) | (152,542 | ) | (603,400 | ) | |||||||||
| Income (Loss) Before Provision for (Benefit From) Income Taxes | 246,574 | (1,429,133 | ) | (395,046 | ) | (1,439,801 | ) | |||||||||
| Provision for Income Taxes | – | – | – | 9,588 | ||||||||||||
| Net Income (Loss) | $ | 246,574 | $ | (1,429,133 | ) | $ | (395,046 | ) | $ | (1,449,389 | ) | |||||
| Net Income (Loss) per Common Share | ||||||||||||||||
| Basic and diluted | $ | 0.01 | $ | (0.04 | ) | $ | (0.01 | ) | $ | (0.04 | ) | |||||
| Weighted Average Number of Common Shares Outstanding | ||||||||||||||||
| Basic and diluted | 40,279,878 | 36,920,226 | 38,820,497 | 36,920,226 | ||||||||||||
SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
| 2026 | 2025 | |||||||
| Cash Flows From Operating Activities | ||||||||
| Net Loss | $ | (395,046 | ) | $ | (1,449,389 | ) | ||
| Adjustments to Reconcile Net Loss to Net Cash Provided By Operating Activities: | ||||||||
| Depreciation | 1,620,355 | 2,033,935 | ||||||
| Amortization of Debt Issuance Costs | 12,416 | 7,250 | ||||||
| Stock-Based Compensation | 225,000 | 225,000 | ||||||
| Change in Allowance for Expected Credit Losses | 135,991 | 21,571 | ||||||
| Change in Reserve for Obsolescence | (27,053 | ) | (6,499 | ) | ||||
| Changes in Operating Assets and Liabilities: | ||||||||
| Accounts Receivable | (241,084 | ) | (103,308 | ) | ||||
| Inventory | 546,992 | (962,154 | ) | |||||
| Prepaid Expenses and Other Assets | 262,482 | 351,473 | ||||||
| Accounts Payable and Accrued Expenses | (906,965 | ) | 395,423 | |||||
| Federal Income Tax Receivable | – | 179,376 | ||||||
| Deferred Revenue | 57,624 | (16,149 | ) | |||||
| Net Cash Provided By Operating Activities | 1,290,712 | 676,529 | ||||||
| Cash Flows From Investing Activities | ||||||||
| Purchases of Property and Equipment | (1,643,914 | ) | (643,808 | ) | ||||
| Net Cash Used in Investing Activities | (1,643,914 | ) | (643,808 | ) | ||||
| Cash Flows From Financing Activities | ||||||||
| Repayments on Line of Credit | (6,763,863 | ) | – | |||||
| Borrowing on Line of Credit | – | 500,000 | ||||||
| Repayments on Debt Obligations – Related Parties | (152,497 | ) | – | |||||
| Borrowing on Debt Obligations – Related Parties | 200,000 | – | ||||||
| Repayments on Debt Obligations | (69,299 | ) | (346,463 | ) | ||||
| Repayments on Finance Lease Obligations | (288,081 | ) | (207,121 | ) | ||||
| Proceeds from Warrants Exercised | 12 | – | ||||||
| Gross Proceeds from Issuance of Common Stock | 22,999,991 | – | ||||||
| Payment of Common Stock Issuance Costs | (1,574,059 | ) | – | |||||
| Net Cash Provided (Used) By Financing Activities | 14,352,204 | (53,584 | ) | |||||
| Net Increase (Decrease) in Cash | 13,999,002 | (20,863 | ) | |||||
| Cash – Beginning | 358,867 | 598,787 | ||||||
| Cash – Ending | $ | 14,357,869 | $ | 577,924 | ||||
| Supplemental Cash Flow Disclosures: | ||||||||
| Cash Paid for Interest | $ | 370,586 | $ | 622,197 | ||||
| Cash Paid for Taxes | $ | – | $ | – | ||||
| Supplemental Disclosures of Non-Cash Investing Activities: | ||||||||
| Assets Acquired and Included in Accounts Payable | $ | 233,062 | $ | 2,050 | ||||
| Issuance of Common Stock for Stock-Based Compensation | $ | 7 | $ | 23 | ||||
NON-GAAP RECONCILIATION OF EBITDA
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2026 AND 2025
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2026 | September 30, 2025 | September 30, 2026 | September 30, 2025 | |||||||||||||
| Net Income (Loss) | $ | 246,574 | $ | (1,429,133 | ) | $ | (395,046 | ) | $ | (1,449,389 | ) | |||||
| Stock-Based Compensation Expense BOD (1) | 75,000 | 225,000 | 225,000 | 225,000 | ||||||||||||
| Depreciation | 548,191 | 646,508 | 1,620,355 | 2,033,935 | ||||||||||||
| Amortization of Debt Issuance Costs | – | 2,416 | 12,416 | 7,250 | ||||||||||||
| Interest Income | (124,008 | ) | (2,733 | ) | (203,742 | ) | (11,766 | ) | ||||||||
| Interest Expense | 71,089 | 212,009 | 393,116 | 617,040 | ||||||||||||
| Taxes | – | – | – | 9,588 | ||||||||||||
| Non-Recurring Items | – | – | ||||||||||||||
| Executive Transition (2) | – | 329,972 | – | 579,161 | ||||||||||||
| One-time Contract exit costs | – | – | – | 21,063 | ||||||||||||
| Non-recurring property damage | – | – | 23,211 | 21,261 | ||||||||||||
| Incremental auditor transition costs | 35,400 | – | 35,400 | – | ||||||||||||
| Adjusted EBITDA | $ | 852,246 | $ | (15,961 | ) | $ | 1,710,710 | $ | 2,053,143 | |||||||
In the quarters ended September 30, 2026 and 2025:
| (1) | Stock-based compensation was issued to independent Board members. |
| (2) | A succession plan was required for the transition of the CEO at 2024 year-end. |
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