The National Law Review Expands Scope of Legal Notices
HIGHLAND PARK, IL / ACCESS Newswire / July 2, 2025 / The National Law Review® (NLR) is pleased to announce the launch of its National Public Notice ServiceTM (NPNS).
Building on the decade of experience its DailyDACTM affiliate has in providing public notice of distressed asset sales, NLR's new National Public Notice Service is now accepting public notices in all legal and regulatory contexts requiring a party to publish a public notice.
"Customer demand is what drove the move," according to NLR CEO Gary Chodes, "many law firms DailyDACworks with asked it to step in to fill the void left by the continuing closure of traditional print newspapers, and DailyDAC asked NLR to step in."
Examples of public notices NLR's National Public Notice Service offers to publish include:
Abandonment of propertyClass actionsDistressed asset sales (including assignments for the benefit of creditors, bankruptcies, receiverships, and sales under Article 9 of the UCC)ElectionsFormation and dissolution of legal entitiesLand use and zoning mattersName changesProbate mattersPublic bidding for government contractsPublic hearingsService by publication when a party to a lawsuit cannot be located for personal serviceTax lien sales
Media Contact:Billy Thieme, Communications Director(708) 357-3317publicnotices@natlawreview.com
About NLRThe National Law Review® is an online legal news and information source with a monthly reach of more than 3 million visitors and newsletter subscribers. It is the online descendant of a business law publication founded in 1888.
SOURCE: The National Law Review
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5 hours ago
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Tecogen Reports Second Quarter 2025 Financial Results
NORTH BILLERICA, MA / ACCESS Newswire Tecogen Inc. (NYSE American:TGEN), a leading manufacturer of clean energy products, reported revenues of $7.29 million and net loss of $1.47 million for the quarter ended June 30, 2025 compared to revenues of $4.73 million, and a net loss of $1.54 million in 2024. Our cash and cash equivalents balance was $1.64 million at June 30, 2025. Abinand Rangesh, CEO of Tecogen, commented that 'since our last earnings call we have made tremendous progress with our data center strategy and achieved several key milestones. We received our first LOI for a great pilot project. This is for a 100+MW data center with the potential to be a 500+MW site. The customer expects to evaluate 6 STx chillers during the first phase of the project. If successful, more chillers will be used in subsequent phases. We expect the LOI to convert to a PO later this year and we hope to grow with this customer. In the last three months, our marketing has generated great leads. We have now quoted two projects for 60 to 100 chillers each. We have multiple other projects that are earlier stage but have similar potential. We've also received feedback on how customers are making purchasing decisions. During the call, I will address what these are and the steps we are taking so we can convert these leads into orders. The only setback this quarter was the reduction in the gross profit margin which drove the net loss. Product margin was lower because we started shipping the hybrid air-cooled chiller. As expected, the first few units had higher costs due to low volume material purchasing and as our team gained experience building the product. We expect the hybrid chiller margin to increase with volume production. The other products shipped this quarter had similar margins as previous quarters. Overall service margin declined because of one region – Manhattan and NJ. This was in part due to bulk oil system upgrades for our InVerde fleet. This has a short term impact on profitability but increases service intervals by 150% to 200%. We also experienced increased overtime hours. During the call, we will discuss the new protocols we have implemented to restore this territory to profitability. Given the size of potential projects, the ability to manufacture and ship significant volumes of chillers is critical. We have hired talent in manufacturing and engineering. The additional staffing was a significant factor in our increased operating expenses, which increased by 9% in Q2 2025 compared to last year. To provide the necessary capital to scale our business, we also raised $18.2 million in July. The capital raised will be used to increase factory output and for marketing. I will share more details on the data center projects, Vertiv and scale up plan tomorrow.' Key Takeaways Net Loss and Earnings Per Share Net loss for the quarter ended June 30, 2025 was $1.46 million compared to a net loss of $1.54 million for the same period of 2024, a decrease of $0.07 million, due to increased gross profit from our Products and Services segments. EPS for the quarter ended June 30, 2025 and 2024 was a loss of $(0.06)/share, respectively. Net loss for the six months ended June 30, 2025 was $2.12 million compared to a net loss of $2.64 million for the same period of 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments. EPS for the six months ended June 30, 2025 and 2024 was a loss of $(0.08)/share and $(0.11)/share, respectively. Loss from Operations Loss from operations for the quarter ended June 30, 2025 was $1.41 million compared to a loss from operations of $1.47 million for the same period in 2024, a decrease of $0.06 million, due to increased gross profit from our Products and Services segments. Loss from operations for the six ended June 30, 2025 was $2.01 million compared to a loss from operations of $2.52 million for the same period in 2024, a decrease of $0.52 million, due to increased gross profit from our Products and Services segments. Revenues Revenues for the quarter ended June 30, 2025 were $7.29 million compared to $4.73 million for the same period in 2024, a 54.3% increase. Products revenues in the quarter ended June 30, 2025 were $3.16 million compared to $0.12 million for the same period in 2024, an increase of 2,536.6%. The increase in revenue during the quarter ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller. Services revenues in the quarter ended June 30, 2025 were $3.97 million, compared to $4.13 million for the same period in 2024, a decrease of 3.9% due to decreased revenues from the acquired Aegis maintenance contracts. Energy Production revenues in the quarter ended June 30, 2025 were $0.17 million compared to $0.48 million for the same period in 2024, a decrease of 63.8%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs. Revenues for the six months ended June 30, 2025 were $14.57 million compared to $10.91 million for the same period in 2024, a 33.5% increase. Products revenues in the six months ended June 30, 2025 were $5.69 million compared to $1.61 million for the same period in 2024, an increase of 253.1%. The increase in revenue during the six months ended June 30, 2025 is due to increased chiller and cogeneration revenue, which included the initial deliveries of our hybrid-drive air-cooled chiller. Services revenues in the six months ended June 30, 2025 were $8.21 million, compared to $8.14 million for the same period in 2024, an increase of 0.9% due to increased revenues from existing contracts, offset by decreased revenues from the acquired Aegis maintenance contacts. Energy Production revenues in the six months ended June 30, 2025 were $0.67 million compared to $1.16 million for the same period in 2024, a decrease of 42.1%. The decrease in Energy Production revenue is due to contract expirations at certain energy production sites in late 2024 and the temporary shutdown of a few energy production sites for repairs. Gross Profit Gross profit for the quarter ended June 30, 2025 was $2.46 million compared to $2.08 million in the same period in 2024. Gross margin decreased to 33.8% in the quarter ended June 30, 2025 compared to 44.0% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the quarter ended June 30, 2025. Gross profit for the six months ended June 30, 2025 was $5.68 million compared to $4.65 million in the same period in 2024. Gross margin decreased to 39.0% in the six months ended June 30, 2025 compared to 42.7% for the same period in 2024. The decrease in gross margin was due to higher material and labor costs in our Products and Services segments in the the six months ended June 30, 2025. Operating Expenses Operating expenses increased $0.32 million, or 9.0%, to $3.87 million in the quarter ended June 30, 2025 compared to $3.55 million in the same period in 2024, due to increased payroll, benefits, recruitment costs, and sales commissions. Operating expenses increased $0.51 million, or 7.1%, to $7.69 million in six months ended June 30, 2025 compared to $7.18 million in the same period in 2024, due to increased payroll, benefits, recruitment costs and sales commissions. Adjusted EBITDA Adjusted EBITDA was negative $1.16 million for the quarter ended June 30, 2025 compared to negative $1.30 million for the quarter ended June 30, 2024. For the six months ended June 30, 2025, adjusted EBITDA was a negative $1.54 million compared to a negative $2.19 million for the six months ended June 30, 2024. (Adjusted EBITDA is defined as net income or loss attributable to Tecogen, adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges or gains including abandonment of intangible assets and asset impairment. See the table following the Condensed Consolidated Statements of Operations for a reconciliation from net income (loss) to Adjusted EBITDA, as well as important disclosures about the Company's use of Adjusted EBITDA). Conference Call Scheduled for August 13, 2025, at 9:30 am ET Tecogen will host a conference call on August 13, 2025 to discuss the second quarter results beginning at 9:30 am eastern time. To listen to the call please dial (877) 407-7186 within the U.S. and Canada, or +1 (201) 689-8052 from other international locations. Participants should ask to be joined to the Tecogen Second Quarter conference call. Please begin dialing 10 minutes before the scheduled starting time. The earnings press release will be available on the Company website at in the 'News and Events' section under 'About Us.' The earnings conference call will be webcast live. To view the associated slides, register for and listen to the webcast, go to Following the call, the recording will be archived for 14 days. The earnings conference call will be recorded and available for playback one hour after the end of the call. To listen to the playback, dial (877) 660-6853 within the U.S. and Canada, or (201) 612-7415 from other international locations and use Conference Call ID#: 13752231. About Tecogen Tecogen Inc. designs, manufactures, sells, installs, and maintains high efficiency, ultra-clean, cogeneration products including engine-driven combined heat and power, air conditioning systems, and high-efficiency water heaters for residential, commercial, recreational and industrial use. The company provides cost effective, environmentally friendly and reliable products for energy production that nearly eliminate criteria pollutants and significantly reduce a customer's carbon footprint. In business for over 35 years, Tecogen has shipped more than 3,200 units, supported by an established network of engineering, sales, and service personnel in key markets in North America. For more information, please visit or contact us for a free Site Assessment. Forward Looking Statements This press release contains 'forward-looking statements' which may describe strategies, goals, outlooks or other non-historical matters, or projected revenues, income, returns or other financial measures, that may include words such as 'believe,' 'expect,' 'anticipate,' 'intend,' 'plan,' 'estimate,' 'project,' 'target,' 'potential,' 'will,' 'should,' 'could,' 'likely,' or 'may' and similar expressions intended to identify forward-looking statements. These statements are only predictions and involve known and unknown risks, uncertainties, and other factors that may cause our actual results to differ materially from those expressed or implied by such forward-looking statements. Given these uncertainties, you should not place undue reliance on these forward-looking statements. Forward-looking statements speak only as of the date on which they are made, and we undertake no obligation to update or revise any forward-looking statements except as required under the securities laws. In addition to those factors described in our Annual Report on Form 10-K, our Quarterly Reports on Form 10-Q and in our Current reports on Form 8-K, under 'Risk Factors,' and elsewhere therein, among the factors that could cause actual results to differ materially from past and projected future results are the following: fluctuations in demand for our products and services, competing technological developments, issues relating to research and development, the availability of incentives, rebates, and tax benefits relating to our products and services, changes in the regulatory environment relating to our products and services, integration of acquired business operations, the impact of tariffs, and the ability to obtain financing on favorable terms to fund existing operations and anticipated growth. In addition to GAAP financial measures, this press release includes certain non-GAAP financial measures, including adjusted EBITDA which excludes certain expenses as described in the presentation. We use Adjusted EBITDA as an internal measure of business operating performance and believe that the presentation of non-GAAP financial measures provides a meaningful perspective of the underlying operating performance of our current business and enables investors to better understand and evaluate our historical and prospective operating performance by eliminating items that vary from period to period without correlation to our core operating performance and highlights trends in our business that may not otherwise be apparent when relying solely on GAAP financial measures. June 30, 2025 December 31, 2024 ASSETS Current assets: Cash and cash equivalents $ 1,640,864 $ 5,405,233 Accounts receivable, net 6,640,483 6,026,545 Inventories, net 9,679,229 9,634,005 Unbilled revenue 126,738 398,898 Prepaid and other current assets 949,256 680,565 Total current assets 19,036,570 22,145,246 Long-term assets: Property, plant and equipment, net 1,820,059 1,738,036 Right-of-use assets – operating leases 1,728,780 1,730,358 Right-of-use assets – finance leases 933,671 452,390 Intangible assets, net 2,330,959 2,513,189 Goodwill 2,346,566 2,346,566 Other assets 155,232 166,474 TOTAL ASSETS $ 28,351,837 $ 31,092,259 LIABILITIES AND STOCKHOLDERS' EQUITY Current liabilities: Related party notes, current portion $ – $ 1,548,872 Accounts payable 4,946,218 4,142,678 Accrued expenses 2,976,211 2,890,886 Deferred revenue, current portion 4,420,644 6,701,131 Operating lease obligations, current portion 481,891 430,382 Finance lease obligations, current portion 173,362 85,646 Acquisition liabilities, current portion 883,541 902,552 Unfavorable contract liability, current portion 83,962 113,449 Total current liabilities 13,965,829 16,815,596 Long-term liabilities: Related party notes, net of current portion 1,067,848 – Deferred revenue, net of current portion 1,252,831 1,165,951 Operating lease obligations, net of current portion 1,295,450 1,341,789 Finance lease obligations, net of current portion 675,198 325,235 Acquisition liabilities, net of current portion 878,151 1,008,760 Unfavorable contract liability, net of current portion 275,079 309,390 Total liabilities 19,410,386 20,966,721 Commitments and contingencies Stockholders' equity: Tecogen Inc. stockholders' equity: Common stock, $0.001 par value; 100,000,000 shares authorized; 25,571,490 issued and outstanding at June 30, 2025 and 24,950,261 shares issued and outstanding at December 31, 2024 25,571 24,950 Additional paid-in capital 58,837,181 57,845,289 Accumulated deficit (49,763,921 ) (47,639,894 ) Total Tecogen Inc. stockholders' equity 9,098,831 10,230,345 Non-controlling interest (157,380 ) (104,807 ) Total stockholders' equity 8,941,451 10,125,538 $ 28,351,837 $ 31,092,259 TECOGEN INC. (unaudited) Three Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 3,155,323 $ 119,673 Services 3,965,168 4,126,517 Energy production 174,329 481,597 Total revenues 7,294,820 4,727,787 Cost of sales Products 2,232,155 171,982 Services 2,469,737 2,191,815 Energy production 130,436 284,835 Total cost of sales 4,832,328 2,648,632 Gross profit 2,462,492 2,079,155 Operating expenses: General and administrative 3,091,175 2,897,993 Selling 514,735 405,277 Research and development 268,724 246,489 (Gain) loss on disposition of assets (280 ) 3,363 Total operating expenses 3,874,354 3,553,122 Loss from operations (1,411,862 ) (1,473,967 ) Other income (expense) Other income (expense), net (6,378 ) 18,894 Interest expense (38,153 ) (17,869 ) Unrealized loss on investment securities – (37,497 ) Total other income (expense), net (44,531 ) (36,472 ) Loss before provision for state income taxes (1,456,393 ) (1,510,439 ) Provision for state income taxes 16,762 37 Consolidated net loss (1,473,155 ) (1,510,476 ) (Income) loss attributable to the non-controlling interest 9,050 (28,320 ) Loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Net loss per share – basic $ (0.06 ) $ (0.06 ) Weighted average shares outstanding – basic 25,250,217 24,850,261 Net loss per share – diluted $ (0.06 ) $ (0.06 ) Weighted average shares outstanding – diluted 25,250,127 24,850,261 Three Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (1,464,105 ) $ (1,538,796 ) Interest expense, net 38,153 17,869 Income taxes 16,762 37 Depreciation & amortization, net 205,686 141,361 EBITDA (1,203,504 ) (1,379,529 ) Stock based compensation 42,606 45,463 Unrealized loss on investment securities – 37,497 Adjusted EBITDA $ (1,160,898 ) $ (1,296,569 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ('GAAP') measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. Six Months Ended June 30, 2025 June 30, 2024 Revenues Products $ 5,689,132 $ 1,611,071 Services 8,210,190 8,140,827 Energy production 673,268 1,161,985 Total revenues 14,572,590 10,913,883 Cost of sales Products 3,719,905 1,221,525 Services 4,728,635 4,284,072 Energy production 440,518 753,475 Total cost of sales 8,889,058 6,259,072 Gross profit 5,683,532 4,654,811 Operating expenses: General and administrative 6,019,310 5,746,559 Selling 1,109,216 934,946 Research and development 561,392 501,185 Gain on sale of assets (280 ) (4,028 ) Total operating expenses 7,689,638 7,178,662 Loss from operations (2,006,106 ) (2,523,851 ) Other income (expense) Other income (expense), net (20,623 ) 3,147 Interest expense (70,479 ) (36,539 ) Unrealized loss on investment securities (18,749 ) (18,749 ) Total other income (expense), net (109,851 ) (52,141 ) Loss before provision for state income taxes (2,115,957 ) (2,575,992 ) Provision for state income taxes 17,687 22,100 Consolidated net loss (2,133,644 ) (2,598,092 ) (Income) loss attributable to non-controlling interest 9,617 (45,671 ) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Net loss per share – basic $ (0.08 ) $ (0.11 ) Weighted average shares outstanding – basic 25,103,388 24,850,261 Net loss per share – diluted $ (0.08 ) $ (0.11 ) Weighted average shares outstanding – diluted 25,103,388 24,850,261 Six Months Ended June 30, 2025 June 30, 2024 Non-GAAP financial disclosure (1) Net loss attributable to Tecogen Inc. $ (2,124,027 ) $ (2,643,763 ) Interest expense, net 70,479 36,539 Income taxes 17,687 22,100 Depreciation & amortization, net 391,381 281,498 EBITDA (1,644,480 ) (2,303,626 ) Stock based compensation 83,439 89,998 Unrealized loss on marketable securities 18,749 18,749 Adjusted EBITDA $ (1,542,292 ) $ (2,194,879 ) (1) Non-GAAP Financial Measures In addition to reporting net income, a U.S. generally accepted accounting principle ('GAAP') measure, this news release contains information about Adjusted EBITDA (net income (loss) attributable to Tecogen Inc adjusted for interest, income taxes, depreciation and amortization, stock-based compensation expense, unrealized gain or loss on investment securities, goodwill impairment charges and other non-cash non-recurring charges including abandonment of certain intangible assets), which is a non-GAAP measure. The Company believes Adjusted EBITDA allows investors to view its performance in a manner similar to the methods used by management and provides additional insight into its operating results. Adjusted EBITDA is not calculated through the application of GAAP. Accordingly, it should not be considered as a substitute for the GAAP measure of net income and, therefore, should not be used in isolation of, but in conjunction with, the GAAP measure. The use of any non-GAAP measure may produce results that vary from the GAAP measure and may not be comparable to a similarly defined non-GAAP measure used by other companies. Six Months Ended June 30, 2025 June 30, 2024 CASH FLOWS FROM OPERATING ACTIVITIES: Consolidated net loss $ (2,133,644 ) $ (2,598,092 ) Adjustments to reconcile net loss to net cash provided by (used in) operating activities: Depreciation and amortization 391,381 281,498 Provision for (recovery of) credit losses (75,000 ) 19,063 Stock-based compensation 83,439 89,998 Unrealized loss on investment securities 18,749 18,749 Gain on disposition of assets (280 ) (4,028 ) Non-cash interest expense 33,538 12,800 Changes in operating assets and liabilities (Increase) decrease in: Accounts receivable (538,938 ) 1,398,193 Inventory (45,224 ) 439,926 Unbilled revenue 272,160 – Prepaid assets and other current assets (268,691 ) (125,784 ) Other assets 186,766 576,926 Increase (decrease) in: Accounts payable 803,540 (108,646 ) Accrued expenses and other current liabilities 85,325 39,838 Deferred revenue (2,193,607 ) 806,266 Other liabilities (395,134 ) (756,410 ) Net cash provided by (used in) operating activities (3,775,620 ) 90,297 CASH FLOWS FROM INVESTING ACTIVITIES: Purchases of property and equipment (277,989 ) (556,636 ) Proceeds from disposition of assets 280 36,213 Distributions to non-controlling interest (42,956 ) (48,654 ) Net cash used in investing activities (320,665 ) (569,077 ) CASH FLOWS FROM FINANCING ACTIVITIES: Finance lease principal payments (63,010 ) (30,577 ) Proceeds from exercise of stock options 394,926 – Net cash provided (used in) by financing activities 331,916 (30,577 ) Net increase (decrease) in cash and cash equivalents (3,764,369 ) (509,357 ) Cash and cash equivalents, beginning of the period 5,405,233 1,351,270 Cash and cash equivalents, end of the period $ 1,640,864 $ 841,913 Supplemental disclosure of cash flow information: Cash paid for interest $ 36,526 $ 22,909 Cash paid for taxes $ 17,687 $ 22,100 Non-cash investing activities Right-of-use assets acquired under operating leases $ 193,480 $ 1,547,800 Right-of-use assets acquired under finance leases $ 557,893 $ 27,282 Aegis Contract and Related Asset Acquisition: Contingent consideration $ – $ 272,901 Non-cash financing activities Related party note conversion to common stock $ 514,148 $ – SOURCE: Tecogen, Inc. View the original press release on ACCESS Newswire
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Dispatch Ranks on Inc. 5000 List for Fourth Consecutive Year, Recognizing Exceptional Growth and Innovation
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Miami Herald
2 days ago
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Optex Systems Holdings, Inc. Announces Financial Highlights for the Three and Nine Months Ended June 29, 2025
RICHARDSON, TX / ACCESS Newswire / August 12, 2025 / Optex Systems Holdings, Inc. (Nasdaq:OPXS), a leading manufacturer of precision optical sighting systems for domestic and worldwide military and commercial applications, announced financial results for the three and nine months ended June 29, 2025. Danny Schoening, CEO of Optex Systems Holdings, Inc., commented, "We are proud to announce another record-breaking quarter for revenue, a testament to our unwavering commitment to excellence, reliability, and customer support. This milestone reflects not only our strong operational performance but also the momentum we are building across the business. "In addition to surpassing previous revenue records, we are excited to report several significant new program wins that expand our footprint in both domestic and international markets. These new awards are the result of our consistent delivery of high-quality products and the trust we have earned as a dependable defense manufacturing partner. "Our factory performance continues to highlight the strength of our team and the efficiency of our processes. As we celebrate this achievement, we remain focused on sustaining this growth trajectory, investing in innovation, and delivering superior value to our customers and shareholders. "We thank our employees, customers, and investors for their ongoing support in making this success possible." Backlog as of June 29, 2025 was $38.3 million, compared to a backlog of $45.6 million as of June 30, 2024, representing a decrease of $7.3 million, or 16.0% from the prior year June period. Subsequent to the period ended June 29, 2025, the Company announced several new awards including a $2.8 million order for the XM30 program, a $10.2 million five-year requirement-type contract award for optical sighting systems, and a $1.6 million order for laser filters, bringing our total backlog to $45.0 million as of August 5, 2025. For the three months ended June 29, 2025, our total revenue increased by $2.1 million, or 22.6%, compared to the prior year period. For the nine months ended June 29, 2025, our total revenue increased by $5.5 million, or 22.3%, compared to the prior year period. The increase in revenue was primarily driven by higher periscope production levels at the Optex Richardson segment, combined with increased customer demand across both the Optex Richardson and the Applied Optics operating segments. Consolidated gross profit for the three months ended June 29, 2025 increased by $0.3 million, or 10.0%, compared to the prior year period. Consolidated gross profit for the nine months ended June 29, 2025 increased by $1.5 million, or 21.6%, compared to the prior year period. The increase in the most recent three and nine-month period gross profit was primarily attributable to increased revenue and changes in product mix. Our operating income for the three months ended June 29, 2025 increased by $0.3 million, or 18.3%, compared to the prior year period. Our operating income for the nine months ended June 29, 2025 increased by $1.5 million, or 43.8%, compared to the prior year period. The increase in operating income was primarily driven by higher revenue and gross profit. As of June 29, 2025, Optex Systems Holdings had working capital of $19.4 million, as compared to $15.1 million as of September 29, 2024. During the nine months ended June 29, 2025, we generated operating cash of $5.4 million, primarily driven by increased net income, reductions in inventory and increased accounts payable. During the nine months ended June 29, 2025, we paid $1.0 million against the credit facility and purchased capital assets of $0.5 million. At June 29, 2025, the Company had approximately $4.9 million in cash and no draws against its revolving credit line. As of June 29, 2025, our outstanding accounts receivable balance was $4.1 million to be collected during the fourth quarter of fiscal 2025. Our key performance measures for the three and nine months ended June 29, 2025 and June 30, 2024 are summarized below. The table below summarizes our three- and nine-month operating results for the periods ended June 29, 2025 and June 30, 2024, in terms of both the GAAP net income measure and the non-GAAP Adjusted EBITDA measure. We believe that including both measures allows the reader better to evaluate our overall performance. Adjusted EBITDA has limitations and should not be considered in isolation or a substitute for performance measures calculated under GAAP. This non-GAAP measure excludes certain cash expenses that we are obligated to make. In addition, other companies in our industry may calculate Adjusted EBITDA differently than we do or may not calculate it at all, which limits the usefulness of Adjusted EBITDA as a comparative measure. Our net income increased by $0.2 million to $1.5 million for the three months ended June 29, 2025, as compared to net income of $1.3 million for the prior year period. Our adjusted EBITDA increased by $0.3 million to $2.1 million for the three months ended June 29, 2025, as compared to adjusted EBITDA of $1.8 million for the prior year period. Our net income increased by $1.3 million to $4.1 million for the nine months ended June 29, 2025, as compared to net income of $2.8 million for the prior year period. Our adjusted EBITDA increased by $1.5 million to $5.7 million for the nine months ended June 29, 2025, as compared to adjusted EBITDA of $4.2 million for the prior year period. The increase in net income and adjusted EBITDA for the most recent three and nine-month periods compared to the prior year periods is primarily driven by increased revenue and gross profit. We currently do not anticipate any significant material risks as a result of the recent tariff uncertainties or China's stranglehold on rare earths. Our defense products are primarily sourced domestically, but those which are imported are generally not subject to tariff or duties. We produce some commercial optical assemblies with selective components sourced from Taiwan; however, our current customer backlog is covered with existing material in inventory. We anticipate any future orders for these commercial products will be subject to revised pricing inclusive of any potential tariff impact. Highlights of the Consolidated and Segment Results of Operations have been prepared in accordance with GAAP. These financial highlights do not include all information and disclosures required in the consolidated financial statements and footnotes and should be read in conjunction with our Quarterly Report on Form 10Q for the three and nine months ended June 29, 2025 filed with the SEC on August 12, 2025. Optex Systems Holdings, Consolidated Balance Sheets The accompanying notes in our Quarterly Report on Form 10Q for the three and nine months ended June 29, 2025 filed with the SEC on August 12, 2025 are an integral part of these financial statements. Optex Systems Holdings, Consolidated Statements of Operations(Unaudited) The accompanying notes in our Quarterly Report on Form 10Q for the three and nine months ended June 29, 2025 filed with the SEC on August 12, 2025 are an integral part of these financial statements. ABOUT OPTEX SYSTEMS Optex, which was founded in 1987, is a Richardson, Texas based ISO 9001:2015 certified concern, which manufactures optical sighting systems and assemblies, primarily for Department of Defense (DOD) applications. Its products are installed on various types of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, Light Armored and Armored Security Vehicles, and have been selected for installation on the Stryker family of vehicles. Optex also manufactures and delivers numerous periscope configurations, rifle and surveillance sights, and night vision optical assemblies. Optex delivers its products both directly to the military services and to prime contractors. For additional information, please visit the Company's website at Safe Harbor Statement This press release contains certain forward-looking statements, as that term is defined in the Private Securities Litigation Reform Act of 1995, including those relating to the products and services described herein. You can identify these statements by the use of the words "may," "will," "could," "should," "would," "plans," "expects," "anticipates," "continue," "estimate," "project," "intend," "likely," "forecast," "probable," and similar expressions. These forward-looking statements represent our expectations, beliefs, intentions or strategies concerning future events, including, but not limited to, any statements regarding growth strategy; product and development programs; financial performance and financial condition (including revenue, net income, profit margins and working capital); customer demand; orders and backlog; expected timing of contract deliveries to customers and corresponding revenue recognition; increases in the cost of materials and labor; costs remaining to fulfill contracts; contract loss reserves; labor shortages; follow-on orders; supply chain challenges; the continuation of historical trends; the sufficiency of our cash balances for future liquidity and capital resource needs; the expected impact of changes in accounting policies on our results of operations, financial condition or cash flows; anticipated problems and our plans for future operations; and the economy in general or the future of the defense industry. These forward-looking statements involve risks and uncertainties that could cause actual results to differ materially from those projected or anticipated. Such risks and uncertainties include, but are not limited to, continued funding of defense programs and military spending, the timing of such funding, general economic and business conditions, including unforeseen weakness in the Company's markets, effects of continued geopolitical unrest and regional conflicts, competition, changes in technology and methods of marketing, delays in completing engineering and manufacturing programs, changes in customer order patterns, changes in product mix, continued success in technological advances and delivering technological innovations, changes in the U.S. Government's interpretation of federal procurement rules and regulations, changes in spending due to policy changes in any new federal presidential administration, market acceptance of the Company's products, shortages in components, production delays due to performance quality issues with outsourced components, inability to fully realize the expected benefits from acquisitions and restructurings or delays in realizing such benefits, challenges in integrating acquired businesses and achieving anticipated synergies, changes to export regulations, increases in tax rates, changes to generally accepted accounting principles, difficulties in retaining key employees and customers, unanticipated costs under fixed-price service and system integration engagements, changes in the market for microcap stocks regardless of growth and value and various other factors beyond our control. You must carefully consider any such statement and should understand that many factors could cause actual results to differ from the Company's forward-looking statements. These factors include inaccurate assumptions and a broad variety of other risks and uncertainties, including some that are known and some that are not. No forward-looking statement can be guaranteed and actual future results may vary materially. The Company does not assume the obligation to update any forward-looking statement. You should carefully evaluate such statements in light of factors described in the Company's filings with the SEC, especially on Forms 10-K, 10-Q and 8-K. In various filings the Company has identified important factors that could cause actual results to differ from expected or historic results. You should understand that it is not possible to predict or identify all such factors. Consequently, you should not consider any such list to be a complete list of all potential risks or uncertainties. Contact: IR@ SOURCE: Optex Systems Holdings, Inc.
