Syntec Optics Holdings, Inc. (Nasdaq: OPTX) Reports Third Quarter 2024 Financial Results
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.
Syntec Optics (OPTX) ha riportato i risultati finanziari del terzo trimestre 2024 con vendite nette di 7,86 milioni di dollari, in aumento del 12,3% rispetto al secondo trimestre 2024 e del 19,2% su base annua. Le vendite dei prodotti sono aumentate del 17,2%, raggiungendo 7,33 milioni di dollari rispetto al terzo trimestre 2023. Tuttavia, l'EBITDA rettificato è diminuito a 1,10 milioni di dollari rispetto a 1,32 milioni nel secondo trimestre 2024, e l'utile per azione è sceso a 0,00 dollari rispetto a 0,01 dollari. L'azienda non ha raggiunto le previsioni sui ricavi, stimate tra 9,5 e 11,0 milioni di dollari, ma ha mostrato una crescita sequenziale. Per il quarto trimestre 2024, si prevede un fatturato compreso tra 7,4 e 9,0 milioni di dollari, con un reddito netto positivo e margini lordi stabili o in miglioramento.
Syntec Optics (OPTX) reportó los resultados financieros del tercer trimestre de 2024 con ventas netas de $7.86 millones, un aumento del 12.3% respecto al segundo trimestre de 2024 y del 19.2% interanual. Las ventas de productos aumentaron un 17.2% a $7.33 millones en comparación con el tercer trimestre de 2023. Sin embargo, el EBITDA ajustado disminuyó a $1.10 millones desde $1.32 millones en el segundo trimestre de 2024, y las ganancias por acción cayeron a $0.00 desde $0.01. La compañía no alcanzó su guía de ingresos de $9.5 a $11.0 millones, pero mostró crecimiento secuencial. Para el cuarto trimestre de 2024, se proyecta que los ingresos estén entre $7.4 y $9.0 millones, con neto positivo esperado y márgenes brutos estables o en mejora.
Syntec Optics (OPTX)는 2024년 3분기 재무 결과를 보고하며 순 매출 786만 달러를 기록했다고 전했습니다. 이는 2024년 2분기 대비 12.3% 증가한 수치이며, 전년 대비 19.2% 증가한 결과입니다. 제품 매출은 173% 증가하여 733만 달러에 달했습니다. 그러나 조정된 EBITDA는 132만 달러에서 110만 달러로 감소하였고, 주당 수익은 0.01달러에서 0.00달러로 하락했습니다. 이 회사는 950만 달러에서 1100만 달러 사이의 수익 가이드를 놓쳤지만, 순차적인 성장을 보여주었습니다. 2024년 4분기에는 740만 달러에서 900만 달러 사이의 매출이 예상되며, 긍정적인 순이익과 안정적 또는 개선된 총 마진이 기대됩니다.
Syntec Optics (OPTX) a annoncé les résultats financiers du troisième trimestre 2024 avec des ventes nettes de 7,86 millions de dollars, en hausse de 12,3 % par rapport au deuxième trimestre 2024 et de 19,2 % d'une année sur l'autre. Les ventes de produits ont augmenté de 17,2 % pour atteindre 7,33 millions de dollars par rapport au troisième trimestre 2023. Cependant, l'EBITDA ajusté a diminué à 1,10 million de dollars contre 1,32 million dans le deuxième trimestre 2024, et le bénéfice par action est tombé à 0,00 dollar contre 0,01 dollar. L'entreprise n'a pas atteint ses prévisions de revenus de 9,5 à 11,0 millions de dollars, mais a montré une croissance séquentielle. Pour le quatrième trimestre 2024, les revenus sont projetés entre 7,4 et 9,0 millions de dollars, avec un revenu net positif et des marges brutes stables ou en amélioration.
Syntec Optics (OPTX) hat die Finanzzahlen für das dritte Quartal 2024 veröffentlicht, mit Nettoumsätzen von 7,86 Millionen Dollar, was einem Anstieg von 12,3% gegenüber dem zweiten Quartal 2024 und 19,2% im Jahresvergleich entspricht. Der Produktverkauf stieg um 17,2% auf 7,33 Millionen Dollar im Vergleich zum dritten Quartal 2023. Allerdings sank das bereinigte EBITDA von 1,32 Millionen Dollar im zweiten Quartal 2024 auf 1,10 Millionen Dollar, und der Gewinn pro Aktie fiel von 0,01 auf 0,00 Dollar. Das Unternehmen verfehlte seine Umsatzprognose von 9,5 bis 11,0 Millionen Dollar, zeigte jedoch ein sequenzielles Wachstum. Für das vierte Quartal 2024 wird ein Umsatz zwischen 7,4 und 9,0 Millionen Dollar prognostiziert, wobei ein positiver Nettogewinn und stabile oder verbesserte Bruttomargen erwartet werden.
- Net sales increased 12.3% QoQ to $7.86 million
- Product sales grew 17.2% YoY to $7.33 million
- Company maintains $3.9M unused line of credit and $4.8M equipment line of credit
- Sequential revenue growth demonstrated despite missing guidance
- Adjusted EBITDA decreased to $1.10M from $1.32M QoQ
- EPS decreased to $0.00 from $0.01 QoQ
- Missed Q3 revenue guidance of $9.5-$11.0M
- Net income declined to -$0.01M from $0.3M QoQ
Insights
Syntec Optics' Q3 results paint a mixed picture. While revenue grew
The company's strategic positioning in high-growth markets (space economy, AI data centers, biomedical) provides long-term potential. However, near-term execution challenges are evident in the conservative Q4 guidance of
Syntec's market positioning aligns with major growth trends in key sectors. The company's expansion into space optics targets the projected
The tripled production rate for data center products demonstrates strong execution in AI-driven markets. However, the revenue miss against guidance suggests potential challenges in scaling operations or market penetration. The focus on proprietary techniques and mission-critical products creates defensive moats, but the company needs to demonstrate consistent execution to capitalize on these market opportunities.
Syntec continues sequential revenue growth with positive EBITDA
ROCHESTER, NEW YORK, Nov. 14, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (Nasdaq: OPTX), a leading provider of mission-critical products to advanced technology defense, biomedical, and communications equipment manufacturers, today reported financial results for the first quarter of 2024.
Third Quarter 2024 Financial Highlights
- Net Sales of
$7.86 million increased by12.3% from$7.01 million in Q2 2024, and sales from products of$7.33 million increased by17.2% from$6.26 million in Q3 2023. - Adjusted EBITDA decreased to
$1.10 million from$1.32 million in Q2 2024. - Earnings per Share decreased to
$0.00 from$0.01 in Q2 2024.
Dean Rudy, CFO, said, “At the previous earnings call, we provided guidance for the third quarter 2024 revenue to be between
Strong End-Market Expansion:
- Continued production of space optics for Low Earth Orbit (LEO) satellites. Satellite broadband could represent a significant portion of the
$1 trillion global space economy by 2040. - Ramped up production to nearly triple the quantity per week for the high-growth data center market driven by the deployment of Artificial Intelligence. The data center market is expected to reach
$622.4 billion by 2030.
Technological Leadership and Innovation:
- Delivered proof of concept for phase 1 advanced optical solutions, including high-performance, disposable optics for biomedical imaging with a multi-angled, wider field of view and increased imaging detail. SPIE assessed the 2021 photonics-enabled biomedical marketplace as
$201 billion in total revenues. - Delivered designs for complex optical systems, such as high numerical aperture lens systems for digital night vision.
Third Quarter 2024 Financial and Operating Results
The
The increase in net sales compared to the prior year is due to increases in our product revenue stream. Product revenue increased by
The third quarter of 2024 adjusted EBITDA was
The Company ended the third quarter of 2024 with an unused
Our net income for the three months ended in the third quarter of 2024 was a negative
Guidance
Our recent increases in ongoing sales into the communications, medical, and defense industries are expected to accelerate in the third quarter, particularly within our space communications optics and datacom microlens arrays. As such, the fourth quarter 2024 revenue is expected to be in the range of
We expect our gross margin to hold level or slightly improve based on the profitability of ramping up products. General and administrative costs are expected to increase modestly to enable ramped-up engineering, quality, and pilot production to support continued growth in the fourth quarter.
Looking to the first quarter of 2025, we anticipate continued strength from the communications and biomedical end-markets, with additional growth coming from defense-based product launches.
Our products are propelled by tailwinds as we move towards laser-based satellite communications versus radar-based for low latency, biomedical automation, defense equipment modernization, and on-shoring. Mission-critical products use proprietary techniques that provide an economic moat.
Lastly, we expect positive net income in the fourth quarter, enabling further investments to energize our continued growth.
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. Syntec Optics recently launched new products, including Low Earth Orbit (LEO) satellite optics, lightweight night vision goggle optics, biomedical equipment optics, and precision microlens arrays. 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:
Sara Hart
Investor Relations
InvestorRelations@syntecoptics.com
SOURCE: Syntec Optics Holdings, Inc. (Nasdaq: OPTX)
SYNTEC OPTICS HOLDINGS, INC.
CONDENSED CONSOLIDATED BALANCE SHEETS
SEPTEMBER 30, 2024 AND DECEMBER 31, 2023
| 2024 (unaudited) | 2023 | |||||||
| ASSETS | ||||||||
| Current Assets | ||||||||
| Cash | $ | 476,784 | $ | 2,158,245 | ||||
| Accounts Receivable, Net | 5,821,986 | 6,800,064 | ||||||
| Inventory | 7,560,983 | 5,834,109 | ||||||
| Prepaid Expenses and Other Assets | 344,442 | 359,443 | ||||||
| Total Current Assets | 14,204,195 | 15,151,861 | ||||||
| Property and Equipment, Net | 12,437,352 | 11,101,052 | ||||||
| Deferred Income Taxes | 420,261 | - | ||||||
| Intangible Assets, Net | 250,000 | 295,000 | ||||||
| Total Assets | $ | 27,311,808 | $ | 26,547,913 | ||||
| LIABILITIES AND STOCKHOLDERS’ EQUITY | ||||||||
| Current Liabilities | ||||||||
| Accounts Payable | $ | 2,492,383 | $ | 3,042,315 | ||||
| Accrued Expenses | 1,224,587 | 1,071,257 | ||||||
| Federal Income Tax Payable | 92,127 | 370,206 | ||||||
| Deferred Revenue | 82,813 | - | ||||||
| Line of Credit | 6,063,863 | 6,537,592 | ||||||
| Current Maturities of Debt Obligations | 461,510 | 362,972 | ||||||
| Current Maturities of Finance Lease Obligations | 181,327 | - | ||||||
| Total Current Liabilities | 10,598,610 | 11,384,342 | ||||||
| Long-Term Liabilities | ||||||||
| Long-Term Debt Obligations | 2,698,386 | 2,024,939 | ||||||
| Long-Term Finance Lease Obligations | 1,891,659 | - | ||||||
| Deferred Income Taxes | - | 74,890 | ||||||
| Total Long-Term Liabilities | 4,590,045 | 2,099,829 | ||||||
| Total Liabilities | 15,188,655 | 13,484,171 | ||||||
| Commitments and Contingencies (Note 16) | - | |||||||
| Stockholder’s Equity | ||||||||
| CL A Common Stock, Par value $.0001 per share; 121,000,000 authorized; 36,688,266 issued and outstanding as of September 30, 2024; 36,688,266 issued and outstanding as of December 31, 2023 | 3,669 | 3,669 | ||||||
| Additional Paid-In Capital | 1,927,204 | 1,927,204 | ||||||
| Retained Earnings | 10,192,280 | 11,132,869 | ||||||
| Total Stockholder’s Equity | 12,123,153 | 13,063,742 | ||||||
| Total Liabilities and Stockholder’s Equity | $ | 27,311,808 | $ | 26,547,913 | | |||
SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |||||||||||||
| Net Sales | $ | 7,866,355 | $ | 6,600,525 | $ | 21,128,263 | $ | 21,177,257 | ||||||||
| Cost of Goods Sold | 6,032,635 | 4,756,467 | 16,412,773 | 15,244,863 | ||||||||||||
| Gross Profit | 1,833,720 | 1,844,058 | 4,715,490 | 5,932,394 | ||||||||||||
| General and Administrative Expenses | 1,727,480 | 1,314,885 | 5,857,806 | 4,442,117 | ||||||||||||
| Income (Loss) from Operations | 106,240 | 529,173 | (1,142,316 | ) | 1,490,277 | |||||||||||
| Other Income (Expense) | ||||||||||||||||
| Interest Expense, Including Amortization of Debt Issuance Costs | (206,069 | ) | (185,292 | ) | (533,178 | ) | (446,875 | ) | ||||||||
| Other Income | 8,575 | 21,107 | 347,547 | 70,914 | ||||||||||||
| Total Other Income (Expense), Net | (197,494 | ) | (164,185 | ) | (185,631 | ) | (375,961 | ) | ||||||||
| Income (Loss) Before Provision for (Benefit) Income Taxes | (91,254 | ) | 364,988 | (1,327,947 | ) | 1,114,316 | ||||||||||
| Provision (Benefit) for Income Taxes | (77,965 | ) | 11,008 | (387,358 | ) | 139,549 | ||||||||||
| Net Income (Loss) | $ | (13,289 | ) | $ | 353,980 | $ | (940,589 | ) | $ | 974,767 | ||||||
| Net Income (Loss) per Common Share | ||||||||||||||||
| Basic and diluted | $ | (0.00 | ) | $ | 0.01 | $ | (0.03 | ) | $ | 0.03 | ||||||
| Weighted Average Number of Common Shares Outstanding | ||||||||||||||||
| Basic and diluted | 36,688,266 | 31,600,000 | 36,688,266 | 31,600,000 | ||||||||||||
SYNTEC OPTICS HOLDINGS, INC.
UNAUDITED CONSOLIDATED STATEMENTS OF CASH FLOWS
FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
| 2024 | 2023 | |||||||
| Cash Flows From Operating Activities | ||||||||
| Net (Loss) Income | $ | (940,589 | ) | $ | 974,767 | |||
| Adjustments to Reconcile (Loss) Income to Net Cash (Used In) | ||||||||
| Provided By Operating Activities: | ||||||||
| Depreciation and Amortization | 2,122,999 | 2,096,335 | ||||||
| Amortization of Debt Issuance Costs | 6,806 | 5,758 | ||||||
| Gain on Disposal of Property and Equipment | (309,000 | ) | - | |||||
| Change in Allowance for Expected Credit Losses | 132,764 | (51,706 | ) | |||||
| Change in Reserve for Obsolescence | 283,196 | 16,299 | ||||||
| Deferred Income Taxes | (495,151 | ) | (536,090 | ) | ||||
| (Increase) Decrease in: | ||||||||
| Accounts Receivable | 845,314 | (504,372 | ) | |||||
| Inventory | (2,010,070 | ) | (1,831,660 | ) | ||||
| Prepaid Expenses and Other Assets | 15,001 | 193,379 | ||||||
| Increase (Decrease) in: | ||||||||
| Accounts Payables and Accrued Expenses | (1,022,602 | ) | 523,455 | |||||
| Federal Income Tax Payable | (278,079 | ) | 528,411 | |||||
| Deferred Revenue | 82,813 | (309,735 | ) | |||||
| Net Cash (Used In) Provided By Operating Activities | (1,566,598 | ) | 1,104,841 | |||||
| Cash Flows From Investing Activities | ||||||||
| Purchases of Property and Equipment | (628,229 | ) | (979,630 | ) | ||||
| Proceeds from Disposal of Property and Equipment | 309,000 | - | ||||||
| Net Cash Used in Investing Activities | (319,229 | ) | (979,630 | ) | ||||
| Cash Flows From Financing Activities | ||||||||
| (Repayments) Borrowing on Line of Credit, Net | (473,729 | ) | 147,076 | |||||
| Borrowing on Debt Obligations | 1,100,388 | - | ||||||
| Repayments on Debt Obligations | (335,209 | ) | (633,081 | ) | ||||
| Repayments on Finance Lease Obligations | (87,084 | ) | - | |||||
| Distributions | - | (62,065 | ) | |||||
| Net Cash Provided By (Used in) Financing Activities | 204,366 | (548,070 | ) | |||||
| Net Decrease in Cash | (1,681,461 | ) | (422,859 | ) | ||||
| Cash - Beginning | 2,158,245 | 526,182 | ||||||
| Cash - Ending | $ | 476,784 | $ | 103,323 | ||||
| Supplemental Cash Flow Disclosures: | ||||||||
| Cash Paid for Interest | $ | 459,994 | $ | 451,580 | ||||
| Cash Paid for Taxes | $ | 568,143 | $ | 118,616 | ||||
| Supplemental Disclosures of Non-Cash Investing Activities: | ||||||||
| Assets Acquired and Included in Accounts Payable and Accrued Expenses | $ | 626,000 | $ | 680,337 | ||||
| Finance Lease Liability Incurred | $ | 2,160,070 | $ | - | ||||
NON-GAAP RECONCILIATION OF EBITDA
FOR THE THREE MONTHS AND NINE MONTHS ENDED SEPTEMBER 30, 2024 AND 2023
| Three Months Ended | Nine Months Ended | |||||||||||||||
| September 30, 2024 | September 30, 2023 | September 30, 2024 | September 30, 2023 | |||||||||||||
| Net (Loss) Income | $ | (13,289 | ) | $ | 353,980 | $ | (940,589 | ) | $ | 974,767 | ||||||
| Depreciation & Amortization | 739,812 | 692,716 | 2,129,805 | 2,102,093 | ||||||||||||
| Interest Expenses | 203,650 | 184,358 | 526,372 | 441,115 | ||||||||||||
| Taxes | (77,965 | ) | 11,008 | (387,358 | ) | 139,549 | ||||||||||
| Non-Recurring Items | ||||||||||||||||
| Other Income - Sale of Equipment & Accessories | - | - | - | (10,068 | ) | |||||||||||
| Discount Income | - | - | - | 192 | ||||||||||||
| Non-Recurring Contributions, Management Fees & Expenses | - | (2,404 | ) | - | 210,112 | |||||||||||
| Non-Recurring Professional & Transaction Fees | - | 55,444 | 174,500 | 213,500 | ||||||||||||
| Technology Start-up Costs | 22,275 | - | 272,067 | - | ||||||||||||
| Non-Recurring Optical Molding Evaluation Expenses | 77,386 | - | 187,734 | - | ||||||||||||
| Non-Recurring Glass Molding Evaluation Expenses | 28,240 | - | 130,196 | - | ||||||||||||
| Non-Recurring Executive Transition Expense | 122,374 | - | 122,374 | - | ||||||||||||
| Adjusted EBITDA | $ | 1,102,483 | $ | 1,295,104 | $ | 2,215,101 | $ | 4,071,261 | ||||||||
Use of Non-GAAP Financial Measures
The Company provides non-GAAP financial measures, including EBITDA and Adjusted EBITDA, as a supplement to GAAP financial information to enhance the overall understanding of the Company’s financial performance and to assist investors in evaluating the Company’s results of operations, period over period. Adjusted non-GAAP measures exclude significant unusual items. Investors should consider these non-GAAP measures as a supplement to, and not a substitute for financial information prepared on a GAAP basis.
Non-GAAP Financial Measures
This Annual Report includes a non-GAAP measure that the Company uses to supplement our results presented in accordance with U.S. GAAP. EBITDA is defined as earnings before interest and other income, tax and depreciation and amortization. Adjusted EBITDA is calculated as EBITDA adjusted for non-recurring items, and business combination expenses. Adjusted EBITDA is a performance measure that we believe is useful to investors and analysts because it illustrates the underlying financial and business trends relating to our core, recurring results of operations and enhances comparability between periods.
Adjusted EBITDA is not a recognized measure under U.S. GAAP and is not intended to be a substitute for any U.S. GAAP financial measure and, as calculated, may not be comparable to other similarly titled measures of performance of other companies in other industries or within the same industry. Investors should exercise caution in comparing our non-GAAP measure to any similarly titled measure used by other companies. This non-GAAP measure excludes certain items required by U.S. GAAP and should not be considered as an alternative to information reported in accordance with U.S. GAAP.
Adjusted EBITDA
The Company defines adjusted EBITDA, a non-GAAP financial measure, as net earnings (loss) before interest and other expenses, net, income tax expense, depreciation and amortization, as adjusted to exclude non-recurring items as outlined in our 10-Q. The Company utilizes adjusted EBITDA as an internal performance measure in the management of our operations because we believe the exclusion of these non-cash and non-recurring charges allows for a more relevant comparison of our results of operations to other companies in our industry and is in accordance with the Non-GAAP Financial Measures Compliance & Disclosure Interpretations (Reference Question 102.03).
FAQ
What was Syntec Optics (OPTX) revenue in Q3 2024?
Did Syntec Optics (OPTX) meet its Q3 2024 revenue guidance?
What is Syntec Optics (OPTX) revenue guidance for Q4 2024?
How did Syntec Optics (OPTX) Adjusted EBITDA perform in Q3 2024?
