LITTLETON, Mass., Sept. 28, 2026 (GLOBE NEWSWIRE) -- Precision Optics Corporation, Inc. (NASDAQ: POCI), a leading designer and manufacturer of advanced optical instruments for the medical and defense/aerospace industries, today announced financial results for its fourth quarter and fiscal year ended June 30, 2026.
Q4 2026 Financial Highlights (3 Months Ended June 30, 2026)
- Revenue was $8.8 million, a quarterly record, compared to $6.2 million in the same quarter of the previous fiscal year, representing growth of approximately 42%, and compared to $8.7 million in the most recent sequential quarter.
- Production revenue was $8.0 million, a quarterly record, compared to $5.1 million in the same quarter of the previous fiscal year, representing growth of approximately 57%, and compared to $7.6 million in the most recent sequential quarter.
- Gross margin was 25.3% compared to 13.0% in the same quarter of the previous fiscal year and compared to 23.6% in the most recent sequential quarter.
- Net loss for the quarter was $(0.1) million, compared to a net loss of $(1.4) million in the same quarter of the previous fiscal year and a net loss of $(0.1) million in the most recent sequential quarter.
- Adjusted EBITDA was $0.4 million for the quarter compared to $(0.9) million in the same quarter of the previous fiscal year and $0.3 million in the most recent sequential quarter.
FY 2026 Financial Highlights (Year Ended June 30, 2026)
- Revenue was $31.5 million, a fiscal year record, compared to $19.1 million in the previous fiscal year, representing growth of approximately 65%.
- Production revenue doubled to $28.1 million compared to $14.2 million in the previous fiscal year.
- Gross margin was 17.2% compared to 17.8% in the previous fiscal year.
- Net loss for the fiscal year declined to $(3.6) million, or $(0.43) per share, from $(5.8) million, or $(0.85) per share, in the previous fiscal year.
- Adjusted EBITDA was $(2.1) million for the fiscal year compared to $(3.7) million in the previous fiscal year, an improvement of approximately $1.6 million.
- Cash and cash equivalents were $9.8 million at June 30, 2026, compared to $1.8 million at June 30, 2025.
Recent Additional Highlights
- Achieved record quarterly revenue from the Company’s existing top-tier aerospace customer and continued strong production of its single-use cystoscopy surgery system.
- Continued ramping production under the previously announced $3.5 million follow-on order for the single-use ophthalmic program.
- Received a $1.3 million follow-on production order from a large defense company.
- Recently announced an initial engineering order from a U.S. space technology company.
- Continued strengthening the Company’s leadership team with the appointment of Peter Thier as Senior Vice President of Sales and Marketing.
FY 2027 Financial Guidance (Year Ending June 30, 2027)
- The Company expects fiscal year 2027 revenue to be in the range of $30 million to $33 million, similar to fiscal year 2026. The outlook reflects a pause in demand from the Company’s existing satellite customer with growth in single-use medical device programs, renewed defense production, additional programs transitioning into production and new engineering engagements expecting to partly offset this reduction. The Company expects a stronger second half of the year as orders are expected to resume from the existing satellite customer.
- The Company expects fiscal year 2027 Adjusted EBITDA to be in a range of $(1.2) million to $(1.7) million.
“Fiscal 2026 was a year of transformation for Precision Optics, and our fourth-quarter results demonstrate the progress we have made. We delivered record quarterly revenue, and a second consecutive quarter of positive Adjusted EBITDA, closing a year in which revenue grew 65%,” said Joe Forkey, CEO of Precision Optics. “Our fiscal 2027 revenue guidance is significantly impacted by the temporary pause in production with our existing satellite customer. As that customer resumes orders and we execute on growing existing and new customers, we anticipate returning to record quarterly revenue levels in the second half of the fiscal year. We believe there is a significant market opportunity, and we will continue to invest in capabilities, capacity and market penetration.”
“Rebuilding our product development pipeline is a priority led by our new SVP of Sales and Marketing. We received an initial engineering order from a second satellite customer. Although it is still early, we see the potential to build another meaningful, long-term production relationship.”
The following table summarizes the fourth quarter and fiscal year results for the periods ended June 30, 2026 and 2025. Fourth-quarter results are unaudited.
Three MonthsEnded June 30
2026Three Months
Ended June 30
2025Year Ended
June 30
2026Year Ended
June 30
2025Revenues$8,774,474$6,181,342$31,531,765$19,091,269Cost of goods sold6,550,8065,382,15526,100,54515,686,836Gross profit2,223,668799,1875,431,2203,404,433Total operating expenses2,330,2282,155,2298,939,8288,955,724Operating income (loss)(106,560)(1,356,042)(3,508,608)(5,551,291)Interest income (expense), net(971)(44,577)(116,325)(227,019)Income (loss) before income taxes(107,531)(1,400,619)(3,624,933)(5,778,310)Income tax expense (benefit)(3,744)1,9364,9581,936Net Loss$(103,787)$(1,402,555)$(3,629,891)$(5,780,246)Earnings (loss) per share, basic$(0.01)$(0.18)$(0.43)$(0.85)Earnings (loss) per share, diluted$(0.01)$(0.18)$(0.43)$(0.85)Weighted average shares, basic10,943,8437,690,0848,530,5996,790,466Weighted average shares, diluted10,943,8437,690,0848,530,5996,790,466
Conference Call Details
Date and Time: Monday, September 28, 2026, 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 will be available at https://app.webinar.net/0E4e7l07PjV.
Replay: A teleconference replay of the call will be available for seven days at (855) 669-9658 or (412) 317-0088, replay access code 7128172. A webcast replay will be available at https://app.webinar.net/0E4e7l07PjV.
About Precision Optics Corporation
Founded in 1982, Precision Optics is a vertically integrated optics company focused on leveraging its proprietary micro-optics, multi-channel and ultra-high precision imaging and digital imaging technologies across the medical device, defense/aerospace and satellite communications markets. Through its Systems Manufacturing, Engineering, Ross Optical and Micro-Optics Lab operations, the Company provides services from new product concept and design through volume production. Its in-house optical, mechanical, electrical and systems engineering, prototyping, regulatory support, fabrication, assembly and manufacturing capabilities enable it to develop next-generation solutions for demanding customer requirements. In medical devices, Precision Optics supports minimally invasive and robotic surgery with micro-endoscopes, single-use and reusable endoscopes, digital imaging and related optical assemblies. In defense/aerospace and satellite communications, the Company applies its micro-optics and opto-mechanical expertise to applications requiring high quality and optimized size, weight and power. Ross Optical complements these capabilities through global sourcing, inspection and production of custom and catalog optics. For more information, please visit www.poci.com.
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 United States of America (“non-GAAP”). The non-GAAP financial measure is Adjusted EBITDA (earnings before interest, taxes, depreciation and amortization). In addition to these items, Adjusted EBITDA excludes from Net Income (Loss) the effect of stock-based compensation, interest expense and interest income, depreciation and amortization and income taxes..
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.
Precision Optics is unable to provide a reconciliation of forward-looking Adjusted EBITDA guidance to net income (loss), the most directly comparable GAAP financial measure, without unreasonable efforts because of the inherent difficulty in forecasting and quantifying certain amounts that are necessary for such reconciliation, including stock-based compensation expense, which may vary significantly based on stock price and other factors outside the Company’s control. The unavailable information could have a significant effect on the Company’s GAAP financial results.
About Forward-Looking Statements
This press release contains forward-looking statements within the meaning of U.S. federal securities laws including statements concerning our fiscal year 2027 revenue and Adjusted EBITDA guidance, our expectations regarding customer demand and order resumption, and our anticipated return to record revenue levels. 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. 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.
PRECISION OPTICS CORPORATION, INC.Balance Sheets at June 30, 2026 and 2025
2026 2025 ASSETS Current Assets: Cash and cash equivalents $9,841,142 $1,773,735 Accounts receivable, net of allowance for credit losses of $108,220 at June 30, 2026 and $80,192 at June 30, 2025 5,944,412 4,336,730 Inventories, net 3,829,414 3,562,112 Prepaid expenses 494,488 385,390 Total current assets 20,109,456 10,057,967 Fixed Assets: Machinery and equipment 3,410,813 3,385,958 Leasehold improvements 1,226,171 871,356 Furniture and fixtures 645,046 538,428 5,282,030 4,795,742 Less—Accumulated depreciation and amortization 4,394,317 4,261,950 Net fixed assets 887,713 533,792 Operating lease right-of-use asset 2,300,866 141,825 Patents, net 212,889 232,493 Goodwill 8,824,210 8,824,210 Total other assets 11,337,965 9,198,528 TOTAL ASSETS $32,335,134 $19,790,287 LIABILITIES AND STOCKHOLDERS’ EQUITY Current Liabilities: Current portion of capital lease obligation $– $27,368 Current maturities of long-term debt 577,898 577,898 Accounts payable 3,582,674 2,909,100 Customer advances 2,498,501 1,821,929 Accrued compensation and other 1,843,368 764,004 Operating lease liability 325,500 50,995 Total current liabilities 8,827,941 6,151,294 Long-term debt, net of current maturities 711,305 1,289,205 Operating lease liability, net of current portion 2,446,576 90,954 Total liabilities 11,985,822 7,531,453 Stockholders’ Equity: Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding – 10,972,792 shares at June 30, 2026 and 7,714,701 shares at June 30, 2025 109,728 77,147 Additional paid-in capital 80,840,105 69,152,317 Accumulated deficit (60,600,521) (56,970,630)Total stockholders’ equity 20,349,312 12,258,834 TOTAL LIABILITIES AND STOCKHOLDERS’ EQUITY $32,335,134 $19,790,287
Statements of Operations
for the Years Ended June 30, 2026 and 2025
2026 2025 Revenues $31,531,765 $19,091,269 Cost of goods sold 26,100,545 15,686,836 Gross profit 5,431,220 3,404,433 Research and development expenses, net 1,033,156 1,157,963 Selling, general and administrative expenses 7,906,672 7,797,761 Total operating expenses 8,939,828 8,955,724 Operating loss (3,508,608) (5,551,291) Other expense Interest expense (148,129) (227,019)Interest income 31,804 - Loss before provision for income taxes (3,624,933) (5,778,310) Provision for income taxes 4,958 1,936 Net loss $(3,629,891) $(5,780,246) Loss per share: Basic and fully diluted $(0.43) $(0.85) Weighted average common shares outstanding: Basic and fully diluted 8,530,599 6,790,466
Statements of Stockholders’ Equity
for the Years Ended June 30, 2026 and 2025
Number of
Shares Common
Stock Additional
Paid-in
Capital Accumulated
Deficit Total
Stockholders’
Equity 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 Issuance of common stock in public offering 3,194,444 31,944 10,598,734 – 10,630,678 Proceeds from exercise of stock option 40,294 404 39,595 – 39,999 Issuance of common stock for employee services 23,353 233 100,267 – 100,500 Stock-based compensation – – 949,192 – 949,192 Net loss – – – (3,629,891) (3,629,891)Balance, June 30, 2026 10,972,792 $109,728 $80,840,105 $(60,600,521) $20,349,312
Statements of Cash Flows
For the Years Ended June 30, 2026 and 2025
2026 2025 Cash Flows from Operating Activities: Net loss $(3,629,891) $(5,780,246)Adjustments to reconcile net loss to net cash (used in) provided by operating activities- Depreciation and amortization 279,277 212,439 Stock-based compensation expense 1,139,692 1,612,106 Non-cash legal expense – 34,881 Non-cash interest expense 18,433 11,563 Non-cash operating lease expense 252,336 124 Loss on disposal of fixed assets 34,506 – Changes in operating assets and liabilities: Accounts receivable, net (1,607,682) (791,239)Inventories (267,302) (694,012)Prepaid expenses (109,098) (86,026)Accounts payable 673,574 1,511,787 Contract liabilities 676,572 649,579 Accrued compensation and other 989,364 (76,658)Net cash used in operating activities (1,550,219) (3,395,702) Cash Flows from Investing Activities: Additional patent costs (5,564) (6,264)Proceeds from sale of fixed assets 3,000 – Purchases of property and equipment (426,786) (227,209)Net cash used in investing activities (429,350) (233,473) Cash Flows from Financing Activities: Payment of capital lease obligations (27,368) (41,114)Principal payments of long-term debt (596,333) (280,440)Payment of debt issuance costs – (40,000)Repayments on line of credit – (1,000,000)Gross proceeds from registered direct offerings of common stock – 6,270,136 Proceeds from public offering of common stock, net 10,630,678 – Gross proceeds from exercise of stock options 39,999 89,050 Net cash provided by financing activities 10,046,976 4,997,632 Net increase in cash and cash equivalents 8,067,407 1,368,457 Cash and cash equivalents, beginning of year 1,773,735 405,278 Cash and cash equivalents, end of year $9,841,142 $1,773,735 Supplemental disclosure of cash flow information: Cash paid during the year for income taxes $2,600 $1,936 Cash paid during the year for interest $129,696 $216,456 Leasehold improvements financed by landlord $218,750 $– Issuance of common stock for consulting and employee services $100,500 $151,698 Stock based compensation for employee services included in accrued compensation and other $90,000 $– Operating right-of-use assets obtained in exchange for operating lease liabilities $2,632,584 $133,650
Year Ended
June 30
June 30
2026 2025 2026 2025 Net Loss (GAAP) $(103,787) $(1,402,555) $(3,629,891) $(5,780,246) Stock based compensation 397,193 439,873 1,139,692 1,612,106 Depreciation and amortization 64,329 59,226 279,277 212,439 Income Taxes (3,744) 1,936 4,958 1,936 Interest Expense 32,775 44,577 148,129 227,019 Interest Income (31,804) - (31,804) - Adjusted EBITDA (non-GAAP) $354,962 $(856,943) $(2,089,639) $(3,726,746)