Quarterly ResultMay 15, 2026, 04:39 PM
SYNTEC OPTICS Q1 Net Loss $(0.02) EPS; Raises $21.4M Equity, Clears Debt
AI Summary
SYNTEC OPTICS HOLDINGS, INC. reported a net loss of $(0.02) per share for the first quarter of 2026, a decline from net income of $0.01 per share in the prior year, with net sales decreasing to $6.51 million. However, the company significantly strengthened its financial position through subsequent events, raising approximately $21.4 million in net proceeds from a public equity offering. This capital was used to fully repay its $6.8 million line of credit, resolving prior non-compliance with financial covenants and extending its revolving credit facility.
Key Highlights
- Reported a net loss of $(0.02) per share for Q1 2026, compared to net income of $0.01 per share in Q1 2025.
- Net sales decreased to $6.51 million in Q1 2026 from $7.07 million in Q1 2025.
- Gross profit declined to $0.96 million in Q1 2026 from $2.31 million in Q1 2025.
- Raised approximately $21.4 million in net proceeds from a public equity offering completed in April/May 2026.
- Repaid the entire $6.8 million outstanding balance on its line of credit by May 13, 2026.
- Received a waiver from M&T Bank for non-compliance with financial covenants as of March 31, 2026.
- Revolving credit facility of $7.5 million extended to June 30, 2027, with a new $7.5 million liquidity requirement.
Price Impact
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