Optical Component Manufacturer

The Company is a manufacturer of high-precision optical components, film coatings, and other infrared products to support complete CO2 high power, low power, and fiber laser systems.

Key Aspects

• From 2021 to 2023, gross profit and adjusted EBITDA margins averaged 66.8% and 9.2%, respectively

• Diverse product offerings, with no one segment representing more than 38.9% of overall revenue, as of 2023

• As of April 2024, the Company has over $454k remaining to be billed on current orders

• Operating in a world-class facility with access to advanced manufacturing equipment, clean rooms, and laboratories

• Global distribution network with a presence in over 85 countries

Opportunities

• Capitalize on the Company’s growing international sales model, as management notes that one of the biggest opportunities to grow revenue is international sales and custom projects to military and government markets

• Expand product catalog to serve high-growth industries, including surveillance for security purposes, and infrared for aerospace, automotive, defense, and medical products

• Implement a recurring revenue stream through contracted regular maintenance of optical equipment

• Target specific projects for entry into key industries, with the largest opportunity being with military and other defense customers

Headquartered

• Southeast US

Current Markets

• The Company primarily serves the US market, with 92% of its business coming from the industrial, medical, manufacturing, aerospace, and military industries. The remaining 8% of revenue comes from international sales. Management notes that the Company's total sales are divided into 20% online sales and 80% corporate sales. Within the corporate sales segment, the Company primarily serves the industrial, medical, manufacturing, aerospace, and military markets. In the online sales segment, the Company caters to engravers and end users. Overall, sales distribution is 92% in the US market and 8% in international markets.

Real Estate

• The Company operates from an 18,000 sq. ft. facility leased from a related entity. Management notes that the real estate may be leased long-term.