Q2 2025 Precision Optics Corporation Inc Earnings Call Transcript
Key Points
- Precision Optics Corp Inc (POCI) reported a 42% increase in production from Q1 to Q2, driven by their single-use cystoscope and defense aerospace programs.
- The company launched its Unity imaging platform, which is expected to accelerate time to market and reduce development risks for endoscopic systems.
- POCI has a strong backlog and expects continued growth in the second half of fiscal 2025, with Q4 projected to reach a record $6 million in revenue.
- The company is well-positioned to benefit from the growing single-use endoscope market, which is estimated to grow at 20% annually.
- POCI is expanding its clean room space and workforce to meet increasing demand, aiming to double output for key programs in the coming months.
- Revenue for the second quarter was $4.5 million, lower than the expected $5 million, due to delays in product development and production ramp-up.
- Gross margins decreased to 24% from 30% in the same quarter last year, impacted by non-billable projects and lower sales volume.
- The company reported a net loss of $910,000 for the quarter, compared to a $704,000 net loss in the previous year.
- Adjusted EBITA was negative $555,000, worse than the negative $269,000 reported last year.
- Capacity constraints have limited revenue growth, requiring significant efforts to expand clean room space and increase workforce.
Good day and welcome to the Precision Optics report's second-quarter fiscal year 2025 results conference call. (Operator Instructions) Please note this event is being recorded.
I would now like to turn the conference over to Robert Blum with Lytham partners. Please go ahead.
All right, thank you, Betsy and to everyone joining the call today. As the operator mentioned on today's call, we will discuss Precision Optics second quarter fiscal year 2025 financial results, and this is for the period ended December 31, 2024. With us on the call representing the company today are Dr. Joe Forkey, Precision Optics, Chief Executive Officer; and Wayne Cole, the company's Chief Financial Officer.
At the conclusion of today's prepared remarks, we'll open the call for a question and answer session. (Operator Instructions)
Before we begin with prepared remarks, we submit for the record the following statement. Statements made by the management team of precision optics during the course of this
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