Optex Systems Holdings Inc. Files 10-Q for Period Ending March 31, 2024

TL;DR

<b>Optex Systems Holdings Inc. filed its quarterly report (10-Q) for the period ending March 31, 2024, detailing its financial performance and business operations.</b>

AI Summary

Optex Systems Holdings Inc (OPXS) filed a Quarterly Report (10-Q) with the SEC on May 14, 2024. Optex Systems Holdings Inc. filed a 10-Q for the period ending March 31, 2024. The filing covers the fiscal second quarter of 2024. The company is incorporated in Delaware and headquartered in Richardson, Texas. The SIC code for Optex Systems Holdings Inc. is 3827 (Optical Instruments & Lenses). The filing was submitted on May 14, 2024.

Why It Matters

For investors and stakeholders tracking Optex Systems Holdings Inc, this filing contains several important signals. This 10-Q filing provides investors with the latest financial data and operational updates for Optex Systems Holdings Inc., crucial for assessing the company's current standing and future prospects. Understanding the details within this filing is important for investors to make informed decisions regarding their investment in OPXS, especially concerning revenue streams and customer concentration.

Risk Assessment

Risk Level: — Optex Systems Holdings Inc shows moderate risk based on this filing. The company's reliance on a few major customers, including US Government and defense contractors, presents a significant risk due to potential concentration of revenue.

Analyst Insight

Investors should closely monitor revenue from major customers and any diversification efforts by Optex Systems Holdings Inc. to mitigate concentration risk.

Key Numbers

• 2024-03-31 — Reporting Period End Date (Conformed Period of Report)
• 2024-05-14 — Filing Date (Filed as of Date)
• Q2 — Fiscal Quarter (Form Type)

Key Players & Entities

• Optex Systems Holdings Inc. (company) — Filer
• Richardson, Texas (location) — Business Address
• 3827 (other) — Standard Industrial Classification
• 2024-03-31 (date) — Conformed Period of Report
• 2024-05-14 (date) — Filed as of Date
• Sustut Exploration Inc (company) — Former Company Name
• 2007-04-19 (date) — Date of Name Change

FAQ

Risk Factors

• Customer Concentration Risk [high — market]: The company's revenue is significantly dependent on a limited number of customers, including the US Government, two major defense contractors, and one major commercial customer, posing a risk if these relationships are disrupted.

Industry Context

Optex Systems Holdings Inc. operates in the optical instruments and lenses industry, focusing on specialized products for defense, homeland security, and commercial applications.

Regulatory Implications

The company's operations may be subject to various regulations related to defense contracting and the sale of optical technology.

What Investors Should Do

1. Analyze the detailed financial statements within the 10-Q for revenue trends and profitability.
2. Assess the impact of customer concentration risk on future revenue stability.
3. Review any management discussion and analysis (MD&A) for insights into operational challenges and strategic initiatives.

Year-Over-Year Comparison

This filing is a 10-Q for the period ending March 31, 2024, providing updated financial information compared to previous filings.

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value OPXS The Nasdaq Stock Mar

Filing Documents

• form10-q.htm (10-Q) — 1216KB
• ex10-1.htm (EX-10.1) — 243KB
• ex10-2.htm (EX-10.2) — 82KB
• ex31-1.htm (EX-31.1) — 8KB
• ex31-2.htm (EX-31.2) — 8KB
• ex32-1.htm (EX-32.1) — 4KB
• ex32-2.htm (EX-32.2) — 4KB
• 0001493152-24-019107.txt (&nbsp;) — 6739KB
• opxs-20240331.xsd (EX-101.SCH) — 43KB
• opxs-20240331_cal.xml (EX-101.CAL) — 52KB
• opxs-20240331_def.xml (EX-101.DEF) — 197KB
• opxs-20240331_lab.xml (EX-101.LAB) — 357KB
• opxs-20240331_pre.xml (EX-101.PRE) — 282KB
• form10-q_htm.xml (XML) — 1158KB

— FINANCIAL INFORMATION

PART I— FINANCIAL INFORMATION F-1 Item 1. Unaudited Condensed Consolidated Financial Statements F-1 Item 2.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 3 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 14 Item 4.

Controls and Procedures

Controls and Procedures 14

— OTHER INFORMATION

PART II— OTHER INFORMATION 15 Item 1.

Legal Proceedings

Legal Proceedings 15 Item 1A.

Risk Factors

Risk Factors 15 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 15 Item 3. Defaults Upon Senior Securities 15 Item 4. Mine Safety Disclosures 15 Item 6. Exhibits 15 SIGNATURE 16 2 Part 1. Financial Information Item 1. Unaudited Condensed Consolidated Financial Statements OPTEX SYSTEMS HOLDINGS, INC. UNAUDITED CONDENSED CONSOLIDATED FINANCIAL STATEMENTS CONDENSED CONSOLIDATED BALANCE SHEETS AS OF MARCH 31, 2024 (UNAUDITED) AND OCTOBER 1, 2023 F-2 CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2024 (UNAUDITED) AND THE THREE AND SIX MONTHS ENDED APRIL 2, 2023 (UNAUDITED) F-3 CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS FOR THE SIX MONTHS ENDED MARCH 31, 2024 (UNAUDITED) AND THE SIX MONTHS ENDED APRIL 2, 2023 (UNAUDITED) F-4 CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS' EQUITY FOR THE THREE AND SIX MONTHS ENDED MARCH 31, 2024 (UNAUDITED) AND FOR THE THREE AND SIX MONTHS ENDED APRIL 2, 2023 (UNAUDITED) F-5 CONDENSED CONSOLIDATED FINANCIAL STATEMENT FOOTNOTES (UNAUDITED) F-6 F-1 Optex Systems Holdings, Inc. Condensed Consolidated Balance Sheets March 31, 2024 October 1, 2023 (Thousands, except share and per share data) March 31, 2024 October 1, 2023 (Unaudited) ASSETS Cash and Cash Equivalents $ 321 $ 1,204 Accounts Receivable, Net 3,680 3,624 Inventory, Net 13,683 12,153 Contract Asset 250 336 Prepaid Expenses 404 219 Current Assets 18,338 17,536 Property and Equipment, Net 983 998 Other Assets Deferred Tax Asset 875 922 Intangible Assets 1,089 - Right-of-use Asset 2,490 2,740 Security Deposits 23 23 Other Assets 4,477 3,685 Total Assets $ 23,798 $ 22,219 LIABILITIES AND STOCKHOLDERS' EQUITY Current Liabilities Accounts Payable $ 2,049 $ 810 Operating Lease Liability 630 620 Federal Income Taxes Payable - 247 Accrued Expenses 1,089 1,265 Accrued Selling Expense

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View this 10-Q filing on SEC EDGAR