Syntec Optics Holdings Reports Q1 Net Sales Of $6.3M Down From $6.9M YoY, Adjusted EBITDA Was $(0.7)M; Company Exits Quarter With Cash Of $1.7M And Debt Of $8.8M
Portfolio Pulse from Benzinga Newsdesk
Syntec Optics Holdings reported Q1 net sales of $6.3M, down from $6.9M year-over-year. The company posted an adjusted EBITDA of $(0.7)M, exited the quarter with $1.7M in cash, and has $8.8M in debt.
May 24, 2024 | 11:49 am
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Syntec Optics Holdings reported a decline in Q1 net sales to $6.3M from $6.9M YoY, with an adjusted EBITDA of $(0.7)M. The company has $1.7M in cash and $8.8M in debt.
The decline in net sales and negative adjusted EBITDA indicate financial struggles. High debt relative to cash reserves could further strain the company's financial health, likely leading to a negative short-term impact on the stock price.
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IMPORTANCE 80
RELEVANCE 100