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Optex Systems Holdings (OPXS) earnings and revenue breakdown
Latest: Q3 FY26 · 10-Q filed Aug 11, 2026 · Optex Systems Holdings (OPXS) Q3 FY26 earnings results →
Q3 FY26 Revenue down 12% year over year to $9.7M · 13¢ of every $1 of revenue kept as net profit · operating margin 14.3%
Optex Systems Holdings made $9.7M in Q3 FY26 (-12% Y/Y). Operating margin 14.3%, net earnings $1.3M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 11, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $9.7M in Q3 FY26, down 12% year over year and up 1% from the previous quarter.
Gross margin was 34.2%, up 5.7 points from Q3 FY25. Operating profit was $1.4M, a 14.3% margin (down 2.9 points year over year). Operating expenses grew 54% against a revenue fall of 12%. Net earnings were $1.3M, down 15% year over year. The effective tax rate was 9.8%.
Operating cash flow was $2.3M (up 68% year over year), 181% of net earnings. Non-cash charges added back $107K of depreciation and amortization and $266K of share-based compensation. Working capital and other items added $670K. Capital expenditures of $207K left free cash flow of $2.1M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 FY26 | 10-Q | Aug 11, 2026 | $9.7M | -12% | 14.3% | $1.3M | $2.3M |
| Q2 FY26 | 10-Q | May 11, 2026 | $9.6M | -10% | 17.3% | $1.3M | −$1.2M |
| Q1 FY26 | 10-Q | Feb 11, 2026 | $9.1M | +12% | 1.6% | $242K | −$92K |
| Q4 FY25 | 10-K | Dec 17, 2025 | $11.3M | +20% | 18.3% | $1.0M | $1.6M |
| Q3 FY25 | 10-Q | Aug 12, 2025 | $11.1M | +23% | 17.2% | $1.5M | $1.4M |
| Q2 FY25 | 10-Q | May 13, 2025 | $10.7M | +26% | 20.8% | $1.8M | $1.2M |
| Q4 FY24 | 10-K | Dec 19, 2024 | $9.4M | +17% | 13.7% | $1.0M | $753K |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 70% of its revenue · Stated in 10-K (sentence) · source
About Optex Systems Holdings
We manufacture optical sighting systems and assemblies for the U.S. Department of Defense (“DoD”), foreign military applications, commercial markets, and consumer markets. Our products are installed on a variety of U.S. military land vehicles, such as the Abrams and Bradley fighting vehicles, light armored and advanced security vehicles and the Stryker family of vehicles. We also manufacture and deliver numerous periscope configurations, rifle and surveillance sights and night vision optical assemblies. Our products consist primarily of build-to-customer print products that are delivered both directly to the armed services and to other defense prime contractors. Less than 1% of our revenue is related to the resale of products substantially manufactured by others. In this case, the product would likely be a simple replacement part of a larger system previously produced by us.
In its own words, from its 10-K, filed Dec 17, 2025.
Optex Systems Holdings against its Optical Instruments & Lenses peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -12% against the peers' median +26%. Operating margin: 14.3% against the peers' median 14.3%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OPXS Optex Systems Holdings | Q3 FY26 | $9.7M | -12% | 14.3% |
| KLAC KLA | Q1 FY27 | $4.1B | +29% | 44.1% |
| COHR Coherent | Q1 FY27 | $2.4B | +50% | 15.1% |
| OPTX Syntec Optics Holdings | Q2 2026 | $8.3M | +26% | 3.9% |
| MSAI MultiSensor AI Holdings | Q2 2026 | $1.7M | +20% | -153.5% |
Source: Optex Systems Holdings 10-Q on SEC EDGAR · CIK 1397016 · Optical Instruments & Lenses
13F: who owns OPXS and who is buying
More on OPXS
History
Every quarter: Q3 FY26 results · Q2 FY26 results · Q1 FY26 results · Q4 FY25 results · Q3 FY25 results · Q2 FY25 results · Q4 FY24 results