10-Q · May 11, 2026
Optex Systems experienced challenges with revenue and profits in Q1 2026 compared to Q1 2025, with quarterly revenue declining by 10.3% to $9.6 million, primarily due to a drop in the Applied Optics Center segment.…
Earnings analysis · 10-Q
OPXS earnings analysis
Filed August 11, 2026 · Our reading of the company's report
The latest report
Optex Systems reported Q3 revenue of $9.729 million and diluted EPS of $0.18, both below consensus and below the prior-year period. Gross margin improved substantially year over year to 34.2%, but revenue and earnings…
Read full summary
Optex Systems reported Q3 revenue of $9.729 million and diluted EPS of $0.18, both below consensus and below the prior-year period. Gross margin improved substantially year over year to 34.2%, but revenue and earnings trends were weaker. Management maintained fiscal 2026 revenue guidance of $43 million-$45 million and Adjusted EBITDA guidance of $7.5 million-$8.5 million, supporting a neutral overall assessment.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
Reported figures
- Earnings per share
- $0.18
- Gross margin
- 34.2%
What stood out
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Revenue declined sequentially and year over year
Q3 revenue was $9.729 million, down approximately 2.7% from $10 million in Q2 2026 and 11.6% from $11 million in Q3 2025.
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Gross margin remained well above prior year
Gross margin was 34.2%, expanding 570 basis points from 28.5% in Q3 2025, although it decreased 100 basis points from 35.2% in Q2 2026.
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Fiscal 2026 outlook maintained
The company maintained fiscal 2026 revenue guidance of $43 million-$45 million and Adjusted EBITDA guidance of $7.5 million-$8.5 million.
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Disclosure controls remained effective
Management reported that disclosure controls were effective as of June 28, 2026, and stated that there were no material changes in internal control during the three months ended June 28, 2026.
What to watch
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Earnings missed estimates and prior year
Diluted EPS was $0.18, below the $0.23 consensus estimate, and decreased from $0.19 in Q2 2026 and $0.22 in Q3 2025.
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Revenue shortfall versus expectations
Q3 revenue of $9.729 million was below the $12.3 million consensus estimate and down 11.6% from $11 million in Q3 2025.
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No new formal risk-factor changes
The filing states there were no material changes in risk factors since the Form 10-K for the year ended September 28, 2025; however, the company reported no material litigation pending or threatened and no stock purchases during the three months ended June 28, 2026.
Management's outlook
The company reiterated fiscal 2026 revenue guidance of $43 million-$45 million and Adjusted EBITDA guidance of $7.5 million-$8.5 million. No numeric EPS guidance was provided.
Earlier filings 4
10-Q · February 11, 2026
Optex Systems experienced revenue growth in Q1 2026 driven by a significant increase in the Optex Richardson segment, while the Applied Optics Center faced a revenue decline. The overall operating income fell sharply,…
10-K · December 17, 2025
Optex Systems Holdings, Inc. reported a solid fiscal year 2025 with total revenues increasing by 21.6% to $41.3 million, driven by significant growth in both the Optex Richardson and Applied Optics Center segments. Net…
10-Q · August 12, 2025
Optex Systems Holdings presented a solid performance in Q3 2025 with revenues increasing by 22.6% to $11.1 million, driven primarily by significant growth in the Optex Richardson segment. Gross margin declined slightly…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.