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Syntec Optics Holdings, Inc. - OPTX STOCK NEWS

Welcome to our dedicated page for Syntec Optics Holdings news (Ticker: OPTX), a resource for investors and traders seeking the latest updates and insights on Syntec Optics Holdings stock.

Syntec Optics Holdings, Inc. (Nasdaq: OPTX) is a leading provider of custom optics and photonics solutions, headquartered in Rochester, NY. With over 20 years of experience, Syntec Optics specializes in mission-critical scientific and technical instruments, as well as defense and aerospace optics for Original Equipment Manufacturers (OEMs). The company’s operations encompass a vertically and horizontally integrated manufacturing process, enabling precise control over lens system assembly, imaging module integration, and more.

Syntec Optics is renowned for its innovative approaches, such as thin film deposition coatings, glass and polymer molding, tool-making, mechanical manufacturing, and nano machining. By making its own tools and employing nano machining, Syntec Optics can maintain tolerances to sub-micron levels, ensuring high-quality outputs.

Recent achievements include the development of a high-resolution, wide-field-of-view freeform prism subsystem used in defense microdisplays, contributing to enhanced situational awareness for aviation pilots. Additionally, the company is making strides in thermal devices, biomedical optics, and satellite optics, with cutting-edge products like lightweight night vision goggle optics and precision microlens arrays.

Financially, Syntec Optics reported an increase in revenue and adjusted EBITDA for the full year of 2023, showcasing robust performance and strategic growth initiatives. Recently appointed CEO Al Kapoor and Chief Manufacturing Officer Joe Mohr are leading the company toward greater market penetration and customer satisfaction.

Syntec Optics continues to expand its footprint by securing significant orders for optical connectivity products in data centers, driven by the rise of artificial intelligence. The company’s state-of-the-art facility and experienced team are well-equipped to meet the growing demands of various high-tech sectors.

For more information about Syntec Optics and its innovative solutions, visit www.syntecoptics.com.

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Syntec Optics (Nasdaq: OPTX) has appointed Matt Carey to lead Business Development and Delivery. In this newly created role, Carey will oversee customer sales/program management, engineering, order fulfillment, and shipping teams. He brings nearly eight years of previous experience with Syntec Optics in various positions, including manufacturing engineer and program manager, where he contributed to building the company's manufacturing ERP system. Prior to rejoining, Carey served as a Logistics Officer in the US Army, managing operations and tracking high-value assets worth $900 million. His appointment aims to foster innovation and enhance customer service delivery at the company, which provides mission-critical products to defense, biomedical, and communications equipment manufacturers.

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Syntec Optics (Nasdaq: OPTX) has appointed Michael J. Ransford as Site Manager to oversee technology and operations. Ransford brings over 30 years of experience in engineering, operations, and business leadership. His background includes significant contributions to optical infrastructure during the internet revolution, operational efficiency improvements at Semrock (later acquired by IDEX), and experience in thin film coating business. At IDEX, he advanced to Site Manager and later VP of Life Sciences Optics, where he successfully consolidated multiple optics facilities in Rochester, NY. His expertise aligns with Syntec's focus on data center optical connectivity products, manufacturing efficiency, and long-term M&A strategy.

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Syntec Optics (Nasdaq: OPTX) has secured over $2.1 million in orders for ultra-high-precision space optics, targeting the Low Earth Orbit (LEO) satellite market. The company will leverage its dedicated production cell and in-house preform production capabilities to meet monthly satellite launch requirements.

The company's nano-scale-level accuracy in optics technology enhances space communications signal range at high orbital velocities and enables lower latency for satellite broadband compared to traditional radar-based systems. This positions Syntec Optics to participate in the projected $1 trillion global space economy by 2040.

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Syntec Optics (OPTX) announced a conference call scheduled for Monday, November 18, 2024, at 5:00 p.m. ET to discuss financial results and provide a business update. The company's Chairman and CEO Al Kapoor recently delivered a keynote speech on the Future of Photonics at the Global Photonics Forum in Malaga, Spain, where 300 industry leaders gathered to discuss the field's impact. The conference call will be accessible via webcast, with a replay available until November 29, 2024, through the company's website.

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Syntec Optics (OPTX) reported Q3 2024 financial results with net sales of $7.86 million, up 12.3% from Q2 2024 and 19.2% year-over-year. Product sales increased 17.2% to $7.33 million compared to Q3 2023. However, Adjusted EBITDA decreased to $1.10 million from $1.32 million in Q2 2024, and earnings per share dropped to $0.00 from $0.01. The company missed its revenue guidance of $9.5-$11.0 million but showed sequential growth. For Q4 2024, revenue is projected between $7.4-$9.0 million, with expected positive net income and stable or improving gross margins.

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Syntec Optics (OPTX) announced plans to restart manufacturing components and assembly for precision-guided munition program in Q1 2025. The company, which has been a trusted supplier since 2004, expects consistent demand over the next five years. The production involves laser guidance optics solutions, including laser seekers and nose-mounted optics, designed to increase mission success rates through improved targeting precision. Syntec Optics received an excellence award in 2004 for its contributions to the program.

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Syntec Optics (Nasdaq: OPTX) Chairman and CEO, Al Kapoor, will deliver a keynote speech titled “The Photonic Evolution: Current Trends and Future Growth Area” at the Global Photonics Forum 2024 in Malaga, Spain, on October 1-2, 2024. The event, organized by Optica, will gather 300 leaders in the global photonics ecosystem to discuss the field's impact on various tech frontiers such as quantum, bioengineering, defense, mobility, robotics, cloud computing, connectivity, space, AR, and AI. Kapoor will highlight how light-enabled products are important for future human needs and economic growth. The keynote will be live-streamed and replayed by Optica. CFO Dean Rudy emphasized the significance of Kapoor's role in shaping the future of photonics and technology.

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Syntec Optics Holdings, Inc. (Nasdaq: OPTX) reported Q2 2024 financial results, showing sequential revenue growth and a return to positive EBITDA and EPS. Key highlights include:

- Net sales of $7.01 million, up 12% from Q1 2024
- Adjusted EBITDA increased to $1.32 million from negative $0.67 million in Q1 2024
- EPS improved to $0.01 from negative $0.03 in Q1 2024

The company secured significant orders for space optics, defense microdisplays, and entered the high-growth data center market. Syntec expects Q3 2024 revenue to be between $9.5 - $11.0 million, with continued strength in communications and biomedical end-markets, and additional growth from defense-based product launches.

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Syntec Optics (Nasdaq: OPTX), a leading provider of mission-critical optics for scientific and technical instruments and equipment OEMs, has announced a conference call to discuss its financial results and provide a business update. The call is scheduled for Thursday, August 15, 2024, at 5:00 p.m. Eastern Time.

Investors and interested parties can join the call via phone or webcast. A recording of the conference call will be available on the company's website, and a replay will be accessible until August 30, 2024. Syntec Optics serves diverse end-markets including defense, biomedical, communications, and consumer sectors.

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Syntec Optics (Nasdaq: OPTX) has launched production of new disposable optics for characterizing biomolecules and nanoparticles used in direct light scattering instruments. These optics enable fast measurements for low-volume requirements of proteins, viruses, and gene therapy vectors. Syntec's expertise in intricate disposable optics for diagnostics, surgical instruments, and digital health imaging will now expand to dynamic light-scattering disposable optics.

The company aims to provide next-generation disposable optics for instruments measuring size, mass, stability, and temperature-related characteristics of biomolecules and nanoparticles. This move positions Syntec to tap into the photonics-enabled biomedical marketplace, which SPIE assessed at $201 billion in total revenues for 2021.

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FAQ

What is the current stock price of Syntec Optics Holdings (OPTX)?

The current stock price of Syntec Optics Holdings (OPTX) is $3.5 as of December 20, 2024.

What is the market cap of Syntec Optics Holdings (OPTX)?

The market cap of Syntec Optics Holdings (OPTX) is approximately 84.4M.

What does Syntec Optics Holdings, Inc. specialize in?

Syntec Optics specializes in custom optics and photonics for scientific instruments and defense and aerospace optics for OEMs.

Where is Syntec Optics headquartered?

Syntec Optics is headquartered in Rochester, New York.

What recent achievements has Syntec Optics made?

Syntec Optics has developed a high-resolution, wide-field-of-view freeform prism subsystem for defense microdisplays and launched new products like lightweight night vision goggle optics and precision microlens arrays.

Who are the key executives at Syntec Optics?

The key executives include Al Kapoor, Chairman, and CEO, and Joe Mohr, Chief Manufacturing Officer.

What are some of the core capabilities of Syntec Optics?

Syntec Optics’ core capabilities include thin film deposition coatings, glass molding, polymer molding, tool-making, mechanical manufacturing, and nano machining.

How has Syntec Optics performed financially in recent years?

Syntec Optics reported an increase in revenue and adjusted EBITDA for the full year of 2023, demonstrating strong financial performance.

What new markets is Syntec Optics expanding into?

Syntec Optics is expanding into optical connectivity for data centers, driven by the growing demand for artificial intelligence.

What is unique about Syntec Optics' manufacturing processes?

Syntec Optics employs a vertically and horizontally integrated manufacturing process, allowing for precise control and maintenance of sub-micron level tolerances.

How does Syntec Optics contribute to defense and aerospace industries?

Syntec Optics provides mission-critical optics for defense and aerospace applications, including freeform prism subsystems for enhanced situational awareness in aviation.

How can I learn more about Syntec Optics?

You can learn more about Syntec Optics by visiting their website at www.syntecoptics.com.

Syntec Optics Holdings, Inc.

Nasdaq:OPTX

OPTX Rankings

OPTX Stock Data

84.38M
6.06M
83.49%
0.93%
0.18%
Electronic Components
Optical Instruments & Lenses
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