OPXS earnings analysis
What we found in OPXS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
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.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- 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.
- 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.
- 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.
- 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.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- 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.
- 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.
- 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.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $0.18
- Gross margin
- 34.2%
What they said about what is next.
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.
The filing reads about the same as the one before it.
What came before.
- 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.…
- 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. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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