Syntec Optics Holdings Inc (OPTX) 2024 Q4 法說會逐字稿

Good afternoon, and welcome to Syntec Optics Holdings, Inc.'s, conference call to discuss the status of financial results and provide a business update. As a reminder, this conference call is being recorded. At this time, all participants are in a listen-only mode. Syntec Optics is a leading provider of mission-critical optics to scientific and technical instruments and equipment OEMs in diverse defense, biomedical, communications, and consumer markets.

下午好，歡迎參加 Syntec Optics Holdings, Inc. 的電話會議，本次會議將討論財務業績狀況並提供業務最新資訊。再次提醒，本次電話會議正在錄音。目前，所有參與者均處於唯讀模式。Syntec Optics 是領先的關鍵任務光學產品供應商，服務於國防、生物醫學、通訊和消費品等多個市場的科學和技術儀器及設備 OEM 廠商。

I'll now turn the call over to Dean Rudy, Syntec Optics' Chief Financial Officer. Please go ahead.

現在我將把電話交給 Syntec Optics 的財務長 Dean Rudy。請繼續。

Thank you, operator, for your introduction and welcome. Al Kapoor, Chairman and Chief Executive Officer of Syntec Optics, will join me today as well. Here are a few quick reminders before we start.

謝謝接線員的介紹與歡迎。Syntec Optics 董事長兼執行長 Al Kapoor 今天也將與我一同出席。開始之前，先提醒幾點。

First, today's call is being webcast, and our press release can be accessed along with it on the investor section of our company website, www.syntecoptics.com. Second, we'll make forward-looking statements based on current expectations during the call. Actual results may differ due to factors noted in this press release and in our filings.

首先，今天的電話會議將進行網路直播，您可以在我們公司網站 www.syntecoptics.com 的投資者關係頁面查看我們的新聞稿。其次，我們將在電話會議期間根據目前的預期發表一些前瞻性聲明。實際結果可能因本新聞稿和我們提交的文件中提到的因素而有所不同。

The company did an 8-K filing on September 4, 2025, that addressed the status of the company's Form 10-K for the period ending December 31, 2024, its Form 10-Q for the period ending March 31, 2025, and its Form 10-Q for the period ending June 30, 2025.

該公司於 2025 年 9 月 4 日提交了 8-K 文件，闡述了該公司截至 2024 年 12 月 31 日的 10-K 表格、截至 2025 年 3 月 31 日的 10-Q 表格以及截至 2025 年 6 月 30 日的 10-Q 的表格狀態。

Previously, Nasdaq had granted the company an exception until August 20, 2025, to file its Form 10-K for the year ending December 31, 2024, and its Form 10-Q for the period ending March 31, 2025. An additional exception will be granted to enable the company to regain compliance with all delinquent filings, but only for a maximum of 180 calendar days from the due date of the initial delinquent filing, or October 13, 2025.

此前，納斯達克已給予該公司豁免，允許其在 2025 年 8 月 20 日之前提交截至 2024 年 12 月 31 日的年度 10-K 表格和截至 2025 年 3 月 31 日的季度 10-Q 表格。將給予額外豁免，使該公司能夠重新遵守所有逾期申報的規定，但最長不得超過自首次逾期申報到期日起 180 個日曆日，即 2025 年 10 月 13 日。

The company submitted to Nasdaq an updated plan on September 5, 2025, to regain compliance with the filing requirement within the specified period. The update was as definitive as possible, including plans to file the Form 10-K and the two 10-Qs, and detailing the progress the company has made.

該公司於 2025 年 9 月 5 日向納斯達克提交了一份更新計劃，以在規定的期限內重新符合申報要求。此次更新盡可能詳盡，包括提交 10-K 表格和兩份 10-Q 表格的計劃，並詳細介紹了公司的進展。

An audit committee meeting was held on September 4, 2025. The auditors presented the 10-K audit results and communications. As a result, the audit committee approved the filings of the 10-K. A similar audit committee meeting was held on September 11, 2025, for the audit results and communications of the two 10-Qs.

審計委員會會議於2025年9月4日舉行。審計人員提交了 10-K 審計結果和溝通記錄。因此，審計委員會批准了 10-K 表格的提交。2025 年 9 月 11 日，審計委員會召開了類似的會議，討論兩份 10-Q 表格的審計結果和溝通情況。

The company targeted the filing of the 10-K and the two 10-Qs together on September 15, 2025, to regain compliance. However, the company's financial team is still working diligently, continuing the daily calls with auditors, completing the final steps for the auditor's quality department, and completing other final subject matter reviews by the auditors, all to provide results within the Nasdaq-specified period.

該公司計劃於 2025 年 9 月 15 日同時提交 10-K 表格和兩份 10-Q 表格，以重新獲得合規資格。然而，公司財務團隊仍在努力工作，繼續與審計師進行每日通話，完成審計師品質部門的最後步驟，並完成審計師的其他最終主題審查，所有這些都是為了在納斯達克規定的期限內提供結果。

We will schedule a new conference call shortly to go over our final results. If you have any questions, please reach out to our Investor Relations, as noted in the announcement, and we will try to address them at our next call.

我們將盡快安排一次新的電話會議，討論最終結果。如有任何疑問，請聯絡我們的投資者關係部門（詳見公告），我們將在下次電話會議上盡量解答。

With that, I will turn the call over to Al Kapoor, Chairman and Chief Executive Officer.

接下來，我將把電話交給董事長兼執行長阿爾·卡普爾。

Thank you, Dean, and thank you to everyone joining us today. As discussed before, Syntec Optics' strategy is to lead the large, yet often overlooked, market for light-enabled products by offering a diverse product portfolio tailored to blue-chip customers' needs. This approach leverages our operational strengths of horizontal and vertical integration of optics manufacturing processes and techniques. We believe with more and more products becoming light-enabled, we will have continued growth opportunities for many years to come.

謝謝迪恩，也謝謝今天到場的各位。如前所述，Syntec Optics 的策略是透過提供多樣化的產品組合來引領龐大但經常被忽視的光產品市場，以滿足藍籌客戶的需求。這種方法充分利用了我們在光學製造流程和技術的橫向和縱向整合方面的營運優勢。我們相信，隨著越來越多的產品實現光控功能，未來許多年我們將擁有持續的成長機會。

Here is how we are, right this moment, currently executing our strategy. We have implemented a very clear three-pronged execution plan that provides a clear roadmap for sustainable growth which involves everyone in the company, including technicians that make the very intricate optics. By focusing first on operational excellence, then scaling our talented team, and finally expanding into new high-growth light-enabled markets, we are positioning Syntec Optics to capitalize on the immense opportunity.

這就是我們目前執行策略的方式。我們實施了一項非常清晰的三管齊下的執行計劃，為永續成長提供了清晰的路線圖，公司中的每個人都參與其中，包括製造非常複雜的光學元件的技術人員。透過首先專注於卓越運營，然後擴大我們的優秀團隊，最後擴展到新的高成長光能市場，我們正在使 Syntec Optics 能夠抓住巨大的機會。

The company's execution plan is centered on the following three pillars. Number one, operational excellence to maximize capacity. The first prong focuses on improving yields and maximizing capacity utilization to meet robust demand for our current products. All key customers are demanding increased volumes, and in some cases, 20%, 50%, to 100% higher than we are currently delivering.

公司執行計劃的核心是以下三大支柱。第一，透過卓越的營運實現產能最大化。第一項重點是提高產量並最大限度地利用產能，以滿足我們現有產品的強勁需求。所有主要客戶都要求增加供貨量，在某些情況下，要求比我們目前的供貨量高出 20%、50% 甚至 100%。

The company is deploying enhanced operations KPIs, daily technician meetings, and ERP dashboards to provide real-time data for decision-making. This initiative targets increased efficiency in key growth areas that we have discussed before, like satellite optics and communications, aiming night vision, integrated scope optics in defense, artificial intelligence deployment-driven data center optics and communications, and hospital diagnostic optics for biomedical. This execution builds upon our highly defensible model of vertical and horizontal integration.

該公司正在部署增強型營運 KPI、每日技術人員會議和 ERP 儀表板，以提供即時數據用於決策。這項計畫旨在提高我們之前討論過的關鍵成長領域的效率，例如衛星光學和通訊、瞄準夜視、國防領域的整合式瞄準鏡光學、人工智慧部署驅動的資料中心光學和通訊以及用於生物醫學的醫院診斷光學。此次執行建立在我們高度可靠的縱向和橫向整合模式之上。

Number two, scaling production with increased staffing. Simultaneously, we are targeting yield improvements from 50% in some cases to reach 95%, and Syntec is increasing staffing as well, including night shifts. This will allow the company to continue scaling its production platforms, ensuring it can not only satisfy existing customer demands but also prepare for the next wave of growth from new and emerging applications.

第二，透過增加人手來擴大生產規模。同時，我們的目標是將某些情況下的產量從 50% 提高到 95%，Syntec 也在增加員工人數，包括夜班。這將使公司能夠繼續擴大其生產平台，確保不僅能夠滿足現有客戶的需求，還能為來自新興應用的下一波成長做好準備。

Number three, expansion into new breakthrough applications. The third prong centers on innovation and market expansion. As more products across end markets become light-enabled, Syntec is securing new customers and breakthrough applications. Two new areas that we have added over the past several months include fusion energy, a new end market; hyperspectral imaging in defense; ground networks for satellite communications in space; and furthering quantum computing and DNA sequencing products. Simultaneously, we are positioning the company at the forefront of next-generation technologies as well.

第三，拓展到新的突破性應用領域。第三方面著重於創新和市場擴張。隨著終端市場中越來越多的產品實現光控功能，Syntec 正在贏得新客戶並取得突破性應用。過去幾個月，我們新增了兩個領域，包括聚變能源（一個新的終端市場）、國防領域的高光譜成像、用於太空衛星通訊的地面網絡，以及進一步發展量子計算和DNA測序產品。同時，我們也在努力讓公司處於下一代技術的前端。

I will hand it back to the operator.

我會把它還給操作員。

Ladies and gentlemen, thank you for your participation and interest in Syntec Optics. This concludes today's event. You may disconnect your lines and enjoy the rest of your day.

女士們、先生們，感謝各位的參與和對 Syntec Optics 的關注。今天的活動到此結束。您可以斷開線路，享受餘下的時光。