PRECISION OPTICS CORPORATION, INC.

Listed Company

POCICIK 0000867840NasdaqNon-AcceleratedSmaller ReportingElectromedical & Electrotherapeutic ApparatusMassachusettsFY ends Jun 30

Period

FY 2025

Revenue

$19.09M

Net Income

$-5.78M

Total Assets

$19.79M

Equity

$12.26M

Shares Out

7.72M

Op. Cash Flow

$-3.55M

Business

PRECISION OPTICS CORPORATION, INC. is a developer and manufacturer of advanced optical instruments serving medical and defense/aerospace markets. It produces traditional and digital endoscopes and endocouplers, Microprecision™ lenses, micro medical cameras, custom imaging and illumination products, optical components and assemblies, and the Unity imaging platform for reusable and single‑use visualization systems. Operations are organized into systems manufacturing, engineering and product development, Ross Optical components and assemblies, and a micro‑optics laboratory. The company markets primarily to U.S. medical device OEMs and defense/aerospace customers via direct sales, trade shows, referrals and online channels, and sources components from domestic and international suppliers.

Summary from filing dated 2025-09-29

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Revenues	19	19	21	16	11
Cost of goods sold	16	13	13	11	7
Gross profit	3	6	8	5	3
Research and development expenses, net	1	981,781	992,375	666,479	624,253
Selling, general and administrative expenses	8	8	7	6	4
Total operating expenses	9	9	8	6	4
Operating loss	−6	−3	−638,548	−2	−905,583
Interest expense	−227,019	−225,108	—	−155,658	−5,302
Loss before provision for income taxes	−6	−3	−142,677	−927,464	−101,923
Provision for income taxes	1,936	1,936	1,936	952	912
Net loss	−6	−3	−144,613	−928,416	−102,835
Income (Loss) Per Share, Basic	−0.85	−0.49	−0.03	−0.06	−0.01
Income (Loss) Per Share, Fully Diluted	−0.85	−0.49	−0.03	−0.06	−0.01
Weighted Average Common Shares Outstanding, Basic	7	6	6	16	13
Weighted Average Common Shares Outstanding, Basic, Fully Diluted	7	6	6	16	13

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Cash and cash equivalents	2	405,278	3	605,749	861,650
Accounts receivable, net of allowance for credit losses of $80,192 at June 30, 2025 and $118,872 at June 30, 2024	4	4	4	3	2
Inventories, net	4	3	3	3	2
Prepaid expenses	385,390	299,364	249,681	213,448	150,635
Total current assets	10	7	10	7	5
Machinery and equipment	3	3	3	3	3
Leasehold improvements	871,356	810,914	825,752	843,903	792,723
Furniture and fixtures	538,428	416,425	242,865	219,999	178,640
Total fixed assets	5	5	4	4	4
LessAccumulated depreciation and amortization	4	4	4	4	3
Net fixed assets	533,792	493,573	433,520	627,471	594,252
Operating lease right-of-use asset	141,825	189,999	358,437	517,725	61,247
Patents, net	232,493	286,559	265,111	229,398	141,702
Goodwill	9	9	9	9	687,664
Total other assets	9	9	9	—	—
TOTAL ASSETS	20	17	20	17	6
Revolving line of credit	0	1	0	—	—
Current portion of capital lease obligation	27,368	41,113	43,209	40,705	38,347
Current maturities of long-term debt	577,898	276,928	513,259	367,714	0
Accounts payable	3	1	2	2	1
Customer advances	2	1	1	905,113	450,084
Accrued compensation and other	764,004	840,662	927,521	716,702	589,616
Operating lease liability	50,995	178,450	168,677	—	61,247
Total current liabilities	6	5	5	5	3
Capital lease obligation, net of current portion	0	27,369	68,482	111,691	152,397
Long-term debt, net of current maturities	1	2	2	2	0
Operating lease liability, net of current portion	90,954	11,549	189,760	367,160	0
Total liabilities	8	7	8	—	—
Common stock, $0.01 par value: 50,000,000 shares authorized; issued and outstanding 7,714,701 shares at June 30, 2025 and 6,073,939 shares at June 30, 2024	77,147	60,739	60,665	169,150	132,825
Additional paid-in capital	69	61	60	57	50
Accumulated deficit	−57	−51	−48	−48	−47
Total stockholders equity	12	10	12	9	3
TOTAL LIABILITIES AND STOCKHOLDERS EQUITY	20	17	20	17	6

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-06-30	FY 2024 2024-06-30	FY 2023 2023-06-30	FY 2022 2022-06-30	FY 2021 2021-06-30
Depreciation and amortization	212,439	212,382	210,735	190,221	146,799
Stock-based compensation expense	1	959,784	919,032	915,494	733,930
Non-cash legal expense	34,881	0	—	—	—
Non-cash interest expense	11,563	17,504	4,087	55,017	0
Non-cash operating lease expense	124	0	—	—	—
Accounts receivable, net	−791,239	361,916	−1	−108,140	−397,318
Inventories	−694,012	−91,884	245,931	−680,744	311,849
Prepaid expenses	−86,026	−49,683	−36,233	19,312	−16,928
Accounts payable	2	−1	193,089	819,284	139,144
Contract liabilities	649,579	−2,340	269,577	−371,650	33,025
Accrued compensation and other	−76,658	−104,363	206,732	—	7,846
Net cash used in operating activities	−4	−3	−81,090	−933,371	46,550
Reclassification/additional patent costs	−6,264	−21,448	—	—	—
Purchases of property and equipment	−227,209	−272,435	−16,784	−113,197	−75,924
Net cash used in investing activities	−233,473	−293,883	−52,497	−407,802	−122,397
Payment of capital lease obligations	−41,114	−43,209	−40,705	−38,349	−58,804
Principal payments of long-term debt	−280,440	−513,259	−367,341	−247,002	0
Payment of debt issuance costs	−40,000	0	—	—	—
(Repayments)/Borrowings on line of credit	−1	1	0	—	—
Gross proceeds from registered direct offerings of common stock	6	0	2	2	0
Stock issued for services	151,698	0	—	—	—
Gross proceeds from exercise of stock options	89,050	12,789	12,397	63,290	28,271
Net cash provided by financing activities	5	456,321	2	1	−197,200
Net increase (decrease) in cash and cash equivalents	1	−3	2	−255,901	−273,047
Cash paid during the year for income taxes	1,936	1,936	1,936	912	2,165
Cash paid during the year for interest	216,456	207,604	—	—	—
Operating right-of-use assets obtained in exchange for operating lease liabilities	133,650	0	—	—	—

Filings

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