OPXS

MKT CAP:$75M

Optex Systems Holdings, Inc

Market Cap

$75M

Industrials·Aerospace & Defense·🇺🇸 United States·NASDAQ

Industrials·Aerospace·🇺🇸·NASDAQ

Stock Price

$10.75-$2.35 (-17.94%)

Apr 21, 2026

Company Details

Optex Systems Holdings, Inc. manufactures and sells optical sighting systems and assemblies primarily for the U.S. department of defense, foreign military applications, and commercial markets in the United States. It offers periscopes, such...

CEO

Chad George

IPO Date

May 3, 2010

Website

www.optexsys.com

Key Metrics TTM

Revenue

$41M

+21.6% YoY

Net Income

$5M

EPS (Diluted)

$0.75

Free Cash Flow

$6M

Revenue / Share

$5.97

Gross Margin

29.2%

Operating Margin

17.3%

Net Margin

12.5%

FCF Margin

15.5%

P/S

1.8x

P/E

14.6x

Earnings Reports

Q1 2026

May 11, 2026

PENDING

FY 2025

Dec 17, 2025

$41M+21.6%EPS $0.74

Q4 2025

Dec 17, 2025

$11M+19.7%EPS $0.15

Q3 2025

Aug 12, 2025

$11M+22.6%EPS $0.22

Q2 2025

May 13, 2025

$11M+25.9%EPS $0.26

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q1 22	$4M	$823.0K	$15.0K
Q2 22	$5M	$716.0K	-$191.0K
Q3 22	$6M	$1M	$510.0K
Q4 22	$7M	$2M	$1M
Q1 23	$4M	$717.0K	-$282.0K
Q2 23	$6M	$2M	$615.0K
Q3 23	$7M	$2M	$752.0K
Q4 23	$8M	$3M	$2M
Q1 24	$7M	$2M	$553.0K
Q2 24	$9M	$3M	$1M
Q3 24	$9M	$3M	$2M
Q4 24	$9M	$2M	$1M
Q1 25	$8M	$2M	$916.0K
Q2 25	$11M	$3M	$2M
Q3 25	$11M	$3M	$2M
Q4 25	$11M	$3M	$2M

Valuation

Quarter	P/S	P/E
Q1 22	4.1x	69.8x
Q2 22	3.9x	49.2x
Q3 22	3.6x	129.6x
Q4 22	3.3x	58.4x
Q1 23	3.4x	72.7x
Q2 23	3.2x	45.1x
Q3 23	3.1x	41.4x
Q4 23	2.9x	33.1x
Q1 24	2.6x	25.7x
Q2 24	2.4x	21.4x
Q3 24	2.3x	17.9x
Q4 24	2.2x	19.9x
Q1 25	2.1x	17.9x
Q2 25	2.0x	15.3x
Q3 25	1.9x	14.6x
Q4 25	1.8x	14.6x

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 22	$2M	$1M
Q2 22	-$209.0K	-$237.0K
Q3 22	$550.0K	$432.0K
Q4 22	$152.0K	$131.0K
Q1 23	$451.0K	$361.0K
Q2 23	-$2M	-$2M
Q3 23	-$340.0K	-$562.0K
Q4 23	$1M	$1M
Q1 24	$2M	$2M
Q2 24	-$1M	-$2M
Q3 24	$50.0K	-$256.0K
Q4 24	$753.0K	$525.0K
Q1 25	$3M	$2M
Q2 25	$1M	$1M
Q3 25	$1M	$1M
Q4 25	$2M	$2M

Capital Expenditures

Quarter	CapEx
Q1 22	$90.0K
Q2 22	$28.0K
Q3 22	$118.0K
Q4 22	$21.0K
Q1 23	$90.0K
Q2 23	$56.0K
Q3 23	$222.0K
Q4 23	$8.0K
Q1 24	$58.0K
Q2 24	$1M
Q3 24	$306.0K
Q4 24	$228.0K
Q1 25	$319.0K
Q2 25	$144.0K
Q3 25	$0
Q4 25	$41.0K

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 22	-2.9%	-1.5%
Q2 22	+21.0%	+14.3%
Q3 22	+39.2%	+29.3%
Q4 22	+32.8%	+2.6%
Q1 23	-6.9%	-0.1%
Q2 23	+24.0%	+8.0%
Q3 23	+16.2%	+13.4%
Q4 23	+19.9%	+17.5%
Q1 24	+72.5%	+48.4%
Q2 24	+33.8%	+24.5%
Q3 24	+26.3%	+16.0%
Q4 24	+16.9%	+27.7%
Q1 25	+17.7%	+13.5%
Q2 25	+25.9%	+18.5%
Q3 25	+22.6%	+23.6%
Q4 25	+19.7%	+13.3%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 22	$0	0.0%
Q2 22	$0	0.0%
Q3 22	$0	0.0%
Q4 22	$0	0.0%
Q1 23	$0	0.0%
Q2 23	$0	0.0%
Q3 23	$0	0.0%
Q4 23	$0	0.0%
Q1 24	$0	0.0%
Q2 24	$0	0.0%
Q3 24	$0	0.0%
Q4 24	$0	0.0%
Q1 25	$0	0.0%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$136.0K	1.2%

OpEx Breakdown

Quarter	G&A
Q1 22	$808.0K
Q2 22	$907.0K
Q3 22	$758.0K
Q4 22	$777.0K
Q1 23	$999.0K
Q2 23	$938.0K
Q3 23	$960.0K
Q4 23	$935.0K
Q1 24	$1M
Q2 24	$1M
Q3 24	$1M
Q4 24	$1M
Q1 25	$1M
Q2 25	$1M
Q3 25	$1M
Q4 25	$1M

Revenue Segments

Quarter	Applied Optics Center (AOC) - Dallas	Optex Systems (OPX) - Richardson, Texas	Other
Q4 22	$4M	$3M	—
Q1 24	$4M	$3M	—
Q1 25	$5M	$3M	—
Q2 25	$5M	$6M	-$322.0K
Q3 25	$5M	$7M	-$325.0K
Q4 25	$4M	$7M	—

War Chest

Quarter	Cash	Short-term Investments	Total
Q2 22	$5M	$0	$5M
Q3 22	$5M	$0	$5M
Q4 22	$934.0K	$0	$934.0K
Q1 23	$1M	$0	$1M
Q2 23	$676.0K	$0	$676.0K
Q3 23	$314.0K	$0	$314.0K
Q4 23	$1M	$0	$1M
Q1 24	$2M	$0	$2M
Q2 24	$321.0K	$0	$321.0K
Q3 24	$486.0K	$0	$486.0K
Q4 24	$1M	$0	$1M
Q1 25	$2M	$0	$2M
Q2 25	$4M	$0	$4M
Q3 25	$5M	$0	$5M
Q4 25	$6M	$0	$6M
Q1 26	$6M	$0	$6M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q1 22	8M	+1.8%	-2.4%
Q2 22	8M	-0.3%	+0.5%
Q3 22	8M	+0.4%	+1.8%
Q4 22	8M	-0.8%	+1.0%
Q1 23	7M	-20.5%	-21.1%
Q2 23	7M	+2.0%	-19.2%
Q3 23	7M	+0.3%	-19.3%
Q4 23	7M	0.0%	-18.7%
Q1 24	7M	+0.5%	+2.8%
Q2 24	7M	+1.5%	+2.3%
Q3 24	7M	+1.0%	+3.0%
Q4 24	7M	0.0%	+3.0%
Q1 25	7M	0.0%	+2.5%
Q2 25	7M	+0.1%	+1.0%
Q3 25	7M	+0.5%	+0.6%
Q4 25	7M	-0.1%	+0.5%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q1 22	$49.9K	87
Q2 22	$59.0K	87
Q3 22	$70.9K	87
Q4 22	$76.6K	88
Q1 23	$45.9K	88
Q2 23	$72.4K	88
Q3 23	$81.5K	88
Q4 23	$734.3K	11
Q1 24	$633.5K	11
Q2 24	$774.8K	11
Q3 24	$823.6K	11
Q4 24	$555.5K	17
Q1 25	$482.2K	17
Q2 25	$631.2K	17
Q3 25	$653.5K	17
Q4 25	$85.6K	132

Revenue / Employee