Precision Optics Reports Fourth Quarter and Fiscal Year 2026 Financial Results

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.

• 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.

• 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.

• 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.

• 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.

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.

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.

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.

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.