ROCHESTER, NEW YORK, Nov. 13, 2025 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX) (“Syntec Optics” or the “Company”), a leading provider of technology products to defense, biomedical, communications, and consumer industry leaders, today reported financial results for the third quarter of 2025.

Third Quarter 2025 Financial Highlights

• Net Sales of $7.0 million increased by 6% over the second quarter. Volume on key product lines increased as we successfully implemented yield and efficiency improvements. Improvements were significant across LEO Satellite Optics, Night Vision, and other defense product lines. 
• Third quarter Gross Profit of $0.9M was down from the prior year’s third quarter by $1.0 million and down from the preceding quarter by $0.7 million. The Gross Margin was primarily reduced by investments in labor and related overhead made to enhance quality and delivery to our customers. 
• Adjusted EBITDA for the quarter was nearly zero, down from the prior year by $1.1 million. Key drivers of the year-over-year decrease include those mentioned above $1.0 million reduction in Gross Profit, as well as an increase in audit fees of $0.2 million and increases in Board of Directors compensation of $0.4 million (non-cash), partially offset by cost controls across many areas, including maintenance costs, administrative costs, and insurance costs. 
• Cash, including available lines of credit, was $1.3 million.
• Cash balances were $0.6 million, with year-to-date operating activities generating $0.7 million, investing activities using $0.7 million, and Financing activities using $0.1 million. 

Continuation of strong execution plans:

• Our focus and drive on yield and throughput continue to enhance our ability to produce at a high rate for our customers, including significant improvements across LEO Satellite Optics, Night Vision Optics, and Integrated Scope Optics.  
• We continue to increase staffing on our night shifts, enabling the company to scale production. 
• Expansion into breakthrough applications continues, with several key opportunities moving from the concept phase into the first-article initial production phase. 
• We are initiating additional cost-down projects to deliver stronger earnings.  This, along with the improvements in yields and throughput, is expected to drive fourth-quarter improvements. 

Third Quarter 2025 Financial and Operating Results

The $6.95 million in net sales for the three months ending September 30, 2025, increased 6% compared to $6.56 million in Q2 2025.

The third quarter of 2025 adjusted EBITDA was negative $0.01 million, compared to $0.69 million in the second quarter of 2025. Contributing factors to the decrease over the previous quarter were a $0.74 million reduction in gross profit, a $0.41 million reduction in other income, and a $0.33 million increase in general and administrative expenses. 

Our net loss for the three months ended in the third quarter of 2025 was $1.4 million, or a loss of $0.04 per share, compared to a loss of $0.3 million, or a loss of $0.01 per share, for Q2 2025.

Future Growth

Syntec Optics’ strategy is to lead the large yet often overlooked market for light-enabled products by offering a diverse product portfolio tailored to the needs of blue-chip customers. This nearly $10 trillion marketplace offers new markets and product growth opportunities in existing markets.  Our approach leverages our operational strengths, including the horizontal and vertical integration of optics manufacturing processes and techniques. We believe that, as more products become light-enabled, we will continue to have growth opportunities for many years to come.

Guidance

Our recent increases in ongoing sales to the communications, biomedical, and defense industries are expected to continue in the fourth quarter, particularly in space communications, optics, and military-related optics.  As such, fourth-quarter 2025 revenue is expected to be higher than the third quarter and in the range of $7.3 - $8.0 million. 

Our products are propelled by tailwinds as we move towards laser-based satellite communications rather than radar-based systems for low latency, biomedical automation, defense equipment modernization, and onshoring. Mission-critical products use proprietary techniques that provide an economic moat.

About Syntec Optics

Syntec Optics Holdings, Inc. (Nasdaq: OPTX), headquartered in Rochester, NY, is one of the largest custom and diverse end-market optics and photonics manufacturers in the United States. Operating for over two decades, Syntec Optics runs a state-of-the-art facility with extensive core capabilities of various optics manufacturing processes, both horizontally and vertically integrated, to provide a competitive advantage for mission-critical OEMs. As more products become light-enabled, Syntec Optics continues to add more product lines, including recent Low Earth Orbit (LEO) satellite optics for communication, lightweight night vision goggle optics for defense, biomedical optics for defense, and data center optics for Artificial Intelligence. To learn more, visit www.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, including certain financial forecasts and projections. All statements other than statements of historical fact contained in this press release, including statements as to the transactions contemplated by the business combination and related agreements, future results of operations and financial position, revenue and other metrics, planned products and services, business strategy and plans, objectives of management for future operations of Syntec Optics, market size, and growth opportunities, competitive position and technological and market trends, 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 including registration statement on Form S-4 filed with the SEC. 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.
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 2025 AND DECEMBER 31, 2024

SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024

NON-GAAP RECONCILIATION OF EBITDA
FOR THE THREE AND NINE MONTHS ENDED SEPTEMBER 30, 2025 AND 2024