OSI Systems Files 2024 Annual Report

TL;DR

OSI Systems filed its 2024 10-K. Check financials for Hawthorne, CA-based semiconductor maker.

AI Summary

OSI Systems Inc. filed its 10-K for the fiscal year ending June 30, 2024, reporting on its diverse operations. The company, headquartered in Hawthorne, CA, is involved in the manufacturing of semiconductors and related devices. This filing provides a comprehensive overview of its financial performance and business activities for the period.

Why It Matters

This 10-K filing provides investors and stakeholders with a detailed look at OSI Systems' financial health and operational performance for the fiscal year 2024, crucial for understanding the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — The filing is a standard annual report and does not inherently indicate elevated risk without further analysis of its contents.

Key Numbers

• 107 — Public Document Count (Indicates the volume of documents associated with this filing.)
• 0630 — Fiscal Year End (Marks the end of the reporting period for the 10-K.)

Key Players & Entities

• OSI SYSTEMS INC (company) — Filer of the 10-K
• 20240630 (date) — Fiscal year end
• 20240829 (date) — Filing date
• Hawthorne, CA (location) — Company headquarters and mailing address
• 3674 (number) — Standard Industrial Classification for Semiconductors & Related Devices

FAQ

Key Financial Figures

• $0.001 — nge on which registered Common Stock, $0.001 par value OSIS The Nasdaq Global Se

Filing Documents

• osis-20240630x10k.htm (10-K) — 3529KB
• osis-20240630xex4d4.htm (EX-4.4) — 4KB
• osis-20240630xex10d14.htm (EX-10.14) — 28KB
• osis-20240630xex19d1.htm (EX-19.1) — 73KB
• osis-20240630xex21d1.htm (EX-21.1) — 53KB
• osis-20240630xex23d1.htm (EX-23.1) — 2KB
• osis-20240630xex23d2.htm (EX-23.2) — 2KB
• osis-20240630xex31d1.htm (EX-31.1) — 12KB
• osis-20240630xex31d2.htm (EX-31.2) — 12KB
• osis-20240630xex32d1.htm (EX-32.1) — 6KB
• osis-20240630xex32d2.htm (EX-32.2) — 6KB
• osis-20240630xex97d1.htm (EX-97.1) — 27KB
• osis-20240630x10k003.jpg (GRAPHIC) — 8KB
• osis-20240630x10k007.jpg (GRAPHIC) — 45KB
• osis-20240630xex19d1001.jpg (GRAPHIC) — 21KB
• osis-20240630xex19d1002.jpg (GRAPHIC) — 5KB
• 0001410578-24-001571.txt ( ) — 17615KB
• osis-20240630.xsd (EX-101.SCH) — 69KB
• osis-20240630_cal.xml (EX-101.CAL) — 108KB
• osis-20240630_def.xml (EX-101.DEF) — 353KB
• osis-20240630_lab.xml (EX-101.LAB) — 866KB
• osis-20240630_pre.xml (EX-101.PRE) — 629KB
• osis-20240630x10k_htm.xml (XML) — 4164KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 18 Item 1B. Unresolved Staff Comments 33 Item 1C. Cybersecurity 33 Item 2.

Properties

Properties 34 Item 3.

Legal Proceedings

Legal Proceedings 35 Item 4. Mine Safety Disclosures 35 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6. [RESERVED] 37 Item 7.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 38 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 45 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 46 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 46 Item 9A.

Controls and Procedures

Controls and Procedures 47 Item 9B. Other Information 47 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 47 PART III Item 10. Directors, Executive Officers and Corporate Governance 48 Item 11.

Executive Compensation

Executive Compensation 48 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 48 Item 13. Certain Relationships and Related Transactions, and Director Independence 48 Item 14. Principal Accountant Fees and Services 48 PART IV Item 15. Exhibits and Financial Statement Schedules 49 Item 16. Form 10-K Summary 49

Signatures

Signatures II-2 Table of Contents PART I

Forward-Looking Statements

Forward-Looking Statements This report contains "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended (the "Exchange Act"). Forward-looking statements relate to our current expectations, beliefs, and projections concerning matters that are not historical facts. Words such as "project," "believe," "anticipate," "plan," "expect," "intend," "may," "should," "will," "would," and similar words and expressions are intended to identify forward-looking statements. Forward-looking statements are not guarantees of future performance and involve uncertainties, risks, assumptions and contingencies, many of which are outside our control. Assumptions upon which our forward-looking statements are based could prove to be inaccurate, and actual results may differ materially from those expressed in or implied by such forward-looking statements. Important factors that could cause our actual results to differ materially from our expectations are disclosed in this report, including, without limitation, delays related to the award of domestic and international contracts; failure to secure the renewal of key customer contracts; delays in customer programs; delays in revenue recognition related to the timing of customer acceptance; the impact of potential information technology, cybersecurity or data security breaches; changes in domestic and foreign government spending, budgetary, procurement and trade policies adverse to our businesses; the impact of the Russia-Ukraine conflict or conflicts in the Middle East, including the potential for broad economic disruption; global economic uncertainty; material delays and cancellations of orders or deliveries thereon, supply chain disruptions, plant closures, or other adverse impacts on our ability to execute business plans; unfavorable currency exchange rate fluctuations; ef

BUSINESS

ITEM 1. BUSINESS General OSI Systems, Inc., together with our subsidiaries, is a vertically integrated designer and manufacturer of specialized electronic systems and components for critical applications. We sell our products and provide related services in diversified markets, including homeland security, healthcare, defense and aerospace. Our company is incorporated in the State of Delaware and our principal office is located at 12525 Chadron Avenue, Hawthorne, California 90250. We have three operating divisions: (a) Security, providing security and inspection systems and turnkey security screening solutions; (b) Optoelectronics and Manufacturing, providing specialized electronic components for our Security and Healthcare divisions, as well as to third parties for applications in the defense and aerospace markets, among others; and (c) Healthcare, providing patient monitoring, cardiology and remote monitoring, and connected care systems and associated accessories. Industry Overview We sell our security and inspection solutions and healthcare products primarily to endusers, while we design and manufacture our optoelectronic devices and valueadded subsystems and provide electronics manufacturing services primarily for original equipment manufacturer (OEM) customers. 1 Table of Contents Security Division. A variety of technologies are currently used globally in non-intrusive security and inspection systems, including transmission and backscatter X-ray interrogation, 3-D computed tomography, radiation monitoring, metal detection, millimeter wave imaging, chemical trace detection, and optical inspection. We believe that the market for security and inspection products will continue to be affected by the threat of terrorist incidents, drug and human trafficking, gun violence, and by new government mandates and appropriations for security and inspection products both in the United States and internationally. Security and inspection products are used at a wide

View Full Filing

View this 10-K filing on SEC EDGAR