PRECISION OPTICS CORPORATION, INC. POCI
advanced optical instruments since 1982, and we operate primarily in two key market segments: medical devices and advanced defense/aerospace products. Within our proprietary optical and imaging technology, our unique custom designs, expert manufacturing
capabilities, and advanced engineering and development capabilities have generated traditional endoscopes and endocouplers, digital
imaging endoscopes using CMOS sensor technology, some designed and manufactured for single-use, as well as other, more advanced,
custom imaging and illumination products for our customers' use in minimally invasive surgical procedures. We design and
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $19.1M | $19.1M | $21.0M | $15.7M | $10.7M | $9.9M | $6.8M | $4.0M | $3.2M | $3.9M |
| Cost of revenue | $15.7M | $13.3M | $13.3M | $10.8M | $7.2M | $6.6M | $4.7M | $2.6M | $2.4M | $3.0M |
| Gross profit | $3.4M | $5.8M | $7.7M | $4.9M | $3.4M | $3.4M | $2.1M | $1.5M | $773.7K | $942.0K |
| R&D | $1.2M | $981.8K | $992.4K | $666.5K | $624.3K | $886.1K | $505.3K | $456.4K | $464.2K | $478.3K |
| SG&A | $7.8M | $7.5M | $7.4M | $5.6M | $3.7M | $3.9M | $2.1M | $1.4M | $1.3M | $1.6M |
| Total operating expenses | $9.0M | $8.5M | $8.4M | $6.4M | $4.3M | $4.8M | $2.7M | $1.8M | $1.8M | $2.0M |
| Operating income | -$5.6M | -$2.7M | -$638.5K | -$1.5M | -$905.6K | -$1.4M | -$612.5K | -$348.6K | -$1.0M | -$1.1M |
| Interest expense | $227.0K | $225.1K | $218.9K | $155.7K | $5.3K | $1.0K | $1.4K | $1.9K | $3.1K | $469 |
| Pre-tax income | -$5.8M | -$2.9M | -$142.7K | -$927.5K | -$101.9K | -$1.4M | -$614.0K | -$350.5K | -$1.0M | -$1.0M |
| Income tax | $1.9K | $1.9K | $1.9K | $952 | $912 | $2.2K | $912 | $912 | $912 | $912 |
| Net income | -$5.8M | -$3.0M | -$144.6K | -$928.4K | -$102.8K | -$1.4M | -$614.9K | -$351.4K | -$1.0M | -$1.0M |
| EPS, basic | -0.85 | -0.49 | -0.03 | -0.18 | -0.01 | — | -0.05 | -0.04 | -0.12 | -0.15 |
| EPS, diluted | -0.85 | -0.49 | -0.03 | -0.18 | -0.01 | -0.11 | -0.05 | -0.04 | -0.12 | -0.15 |
| Shares, diluted (wtd. avg.) | $6.8M | $6.1M | $5.7M | $5.3M | $13.3M | $13.0M | $11.5M | $9.8M | $8.3M | $7.2M |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $1.8M | $405.3K | $2.9M | $605.7K | $861.6K | $1.1M | $2.3M | $402.7K | $118.4K | $50.1K |
| Receivables | $4.3M | $3.5M | $3.9M | $2.7M | $1.9M | $1.5M | $2.2M | $796.9K | $468.5K | $750.4K |
| Inventory | $3.6M | $2.9M | $2.8M | $3.0M | $1.9M | $2.2M | $1.7M | $1.1M | $1.1M | $1.1M |
| Total current assets | $10.1M | $7.1M | $9.9M | $6.5M | $4.8M | $4.9M | $6.4M | $2.4M | $1.7M | $2.0M |
| Property, plant and equipment | $533.8K | $493.6K | $433.5K | $627.5K | $594.3K | $503.1K | $383.0K | $49.5K | $72.3K | $78.2K |
| Goodwill | $8.8M | $8.8M | $8.8M | $8.8M | $687.7K | $687.7K | $687.7K | $0 | — | — |
| Other intangibles | $232.5K | $286.6K | $265.1K | $229.4K | $141.7K | $95.2K | $54.1K | $47.3K | $30.1K | $22.9K |
| Total assets | $19.8M | $16.9M | $19.7M | $16.7M | $6.3M | $6.4M | $7.5M | $2.5M | $1.8M | $2.1M |
| Accounts payable | $2.9M | $1.4M | $2.4M | $2.2M | $1.2M | $1.1M | $1.2M | $703.5K | $695.0K | $1.2M |
| Short-term debt | $577.9K | $276.9K | $513.3K | $367.7K | $0 | — | — | — | — | — |
| Total current liabilities | $6.2M | $4.9M | $5.3M | $4.6M | $2.5M | $3.1M | $3.6M | $1.9M | $1.2M | $1.5M |
| Long-term debt | $1.3M | $1.9M | $2.2M | $2.0M | $0 | — | — | — | — | — |
| Total liabilities | $7.5M | $6.8M | $7.7M | — | — | — | — | — | — | — |
| Retained earnings | -$57.0M | -$51.2M | -$48.2M | -$48.1M | -$47.2M | -$47.1M | -$45.6M | -$45.0M | -$44.7M | -$43.7M |
| Total equity | $12.3M | $10.1M | $12.0M | $9.0M | $3.4M | $2.8M | $3.4M | $564.0K | $558.4K | $587.2K |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$3.5M | -$2.7M | -$81.1K | -$933.4K | $46.5K | -$592.5K | -$1.0M | $100.7K | -$667.4K | -$876.3K |
| Depreciation and amortisation | $212.4K | $212.4K | $210.7K | $190.2K | $146.8K | $112.2K | $38.6K | $27.2K | $33.7K | $25.9K |
| Stock-based compensation | $1.5M | $959.8K | $919.0K | $915.5K | $733.9K | $502.3K | $263.3K | $52.3K | $201.6K | $241.4K |
| Capital expenditure | $227.2K | $272.4K | $16.8K | $113.2K | $75.9K | $119.2K | $140.0K | $4.4K | $27.7K | $4.4K |
| Investing cash flow | -$233.5K | -$293.9K | -$52.5K | -$407.8K | -$122.4K | -$1.6M | -$40.3K | -$21.6K | -$33.4K | $24.1K |
| Financing cash flow | $5.1M | $456.3K | $2.5M | $1.1M | -$197.2K | $1.0M | $3.0M | $205.3K | $769.2K | $661.2K |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001683168-25-007809.
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