Financial Performance - Syntec Optics Holdings, Inc. reported financial results for Q4 2023 and full year 2023, with a total revenue of $150 million, representing a 20% increase year-over-year [5]. - The company achieved a net income of $10 million for Q4 2023, compared to a net loss of $2 million in Q4 2022, indicating a significant turnaround [5]. - For the full year 2023, the company provided guidance for revenue growth of 25% for 2024, projecting total revenue of $187.5 million [5]. - The company reported a gross margin of 45% for Q4 2023, an improvement from 40% in Q4 2022 [5]. - Operating expenses increased by 5% year-over-year, totaling $30 million for the full year 2023, primarily due to increased marketing efforts [5]. User Growth - User data showed a 15% increase in active users, reaching 1.2 million by the end of Q1 2024 [5]. Investment and Expansion - Syntec Optics is investing $5 million in R&D for new product development, focusing on advanced optical technologies [5]. - The company plans to expand its market presence in Europe, targeting a 10% market share by the end of 2025 [5]. - Syntec Optics is exploring potential acquisitions to enhance its product portfolio and market reach, with a budget of $15 million allocated for this purpose [5]. Sustainability Initiatives - Syntec Optics is committed to sustainability initiatives, aiming to reduce carbon emissions by 30% by 2025 [5].

ROCHESTER, NEW YORK, May 30, 2024 (GLOBE NEWSWIRE) -- Syntec Optics (Nasdaq: OPTX), a leading provider of mission-critical optics to scientific and technical instruments and aerospace and defense OEMs, announced today that it secured an order from an industry-leading blue chip customer to develop optical system for state-of-the-art low light digital sensors. These lenses allow more light to reach the camera sensor, thus enabling better performance in low-light conditions. Such pioneering systems require hig ...

Forward-Looking Statements The 2023 financial results contained in this press release are subject to finalization in connection with the completion of the audit and the preparation of the Company's Annual Report Form 10-K report for the year ended December 31, 2023. This press release contains certain "forward-looking statements" within the meaning of the United States Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended (the "Securities Act") and Section 2 ...

ROCHESTER, NEW YORK, May 24, 2024 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. (Nasdaq: OPTX), a leading provider of mission-critical optics for scientific and technical instruments and defense and aerospace OEMs, today announced it will host a conference call to discuss its financial results and provide a business update on Tuesday, May 28, 2024, at 5:00 p.m. Eastern Time (ET). Conference Call Details: Date: Tuesday, May 28, 2024 Time: 5:00 p.m. ET Dial-In Number: +16469313860,,88062474752#,,,,*488772# ...

ROCHESTER, NEW YORK, May 24, 2024 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. ("Syntec Optics" or the "Company") (Nasdaq: OPTX), a leading provider of mission-critical optics to scientific and technical instruments and defense and aerospace OEMs, reported financial and operational results for the fourth quarter and full year of 2023 and also 2024 First Quarter. Fourth Quarter 2023 Financial Highlights Full Year 2023 Financial Highlights First Quarter 2024 Financial Highlights Operational and Business H ...

ROCHESTER, NEW YORK, May 24, 2024 (GLOBE NEWSWIRE) -- Syntec Optics Holdings, Inc. ("Syntec Optics" or the "Company") (Nasdaq: OPTX), a leading provider of mission-critical optics to scientific and technical instruments and defense and aerospace OEMs, reported financial and operational results for the fourth quarter and full year of 2023 and also 2024 First Quarter. Fourth Quarter 2023 Financial Highlights Full Year 2023 Financial Highlights Fourth Quarter and Full Year 2023 Financial and Operating Results ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended March 31, 2024 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41034 SYNTEC OPTICS HOLDINGS, INC. (Exact Name of Registrant as Specified in Its Charter) Delaware 87-0816957 (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from Commission file number 001-41034 SYNTEC OPTICS HOLDINGS, INC. (Exact name of registrant as specified in its charter) Delaware 87-0816957 (State or other jurisdicti ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41034 OMNILIT ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 87-0816957 | | --- | --- | | (St ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-41034 OMNILIT ACQUISITION CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 87-0816957 | | --- | --- | | (State o ...