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Side-by-side financial comparison of Optex Systems Holdings Inc (OPXS) and SS Innovations International, Inc. (SSII). Click either name above to swap in a different company.
SS Innovations International, Inc. is the larger business by last-quarter revenue ($14.5M vs $9.1M, roughly 1.6× Optex Systems Holdings Inc). Optex Systems Holdings Inc runs the higher net margin — 2.6% vs -17.0%, a 19.6% gap on every dollar of revenue. On growth, SS Innovations International, Inc. posted the faster year-over-year revenue change (79.1% vs 11.6%). Optex Systems Holdings Inc produced more free cash flow last quarter ($-548.0K vs $-3.2M). Over the past eight quarters, SS Innovations International, Inc.'s revenue compounded faster (99.9% CAGR vs 3.6%).
Optex Systems Holdings Inc. designs, manufactures and supplies high-performance optical, optoelectronic components and integrated subsystems. Its core products include military sighting systems, laser protection solutions and precision optical assemblies, serving defense, aerospace and industrial manufacturing markets globally.
SS Innovations International, Inc. is a global medical technology enterprise specializing in the research, development and manufacturing of innovative surgical robotic systems. It provides high-precision, accessible robotic platforms for minimally invasive surgery, catering to healthcare facilities across multiple regions to boost surgical outcomes and cut procedural burdens.
OPXS vs SSII — Head-to-Head
Income Statement — Q1 FY2026 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $9.1M | $14.5M |
| Net Profit | $242.0K | $-2.5M |
| Gross Margin | 22.9% | 43.9% |
| Operating Margin | 1.6% | -3.7% |
| Net Margin | 2.6% | -17.0% |
| Revenue YoY | 11.6% | 79.1% |
| Net Profit YoY | -71.3% | -28.5% |
| EPS (diluted) | $0.03 | $-0.01 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $9.1M | $14.5M | ||
| Q3 25 | $11.3M | $12.8M | ||
| Q2 25 | $11.1M | $10.0M | ||
| Q1 25 | $10.7M | $5.1M | ||
| Q4 24 | $8.2M | $8.1M | ||
| Q3 24 | $9.4M | $4.4M | ||
| Q2 24 | $9.1M | $4.5M | ||
| Q1 24 | $8.5M | $3.6M |
| Q4 25 | $242.0K | $-2.5M | ||
| Q3 25 | $1.0M | $-3.7M | ||
| Q2 25 | $1.5M | $-256.7K | ||
| Q1 25 | $1.8M | $-5.7M | ||
| Q4 24 | $844.0K | $-1.9M | ||
| Q3 24 | $1.0M | $-3.2M | ||
| Q2 24 | $1.3M | $-4.1M | ||
| Q1 24 | $1.1M | $-9.8M |
| Q4 25 | 22.9% | 43.9% | ||
| Q3 25 | 30.1% | 48.1% | ||
| Q2 25 | 28.5% | 59.1% | ||
| Q1 25 | 31.3% | 21.2% | ||
| Q4 24 | 26.0% | 48.9% | ||
| Q3 24 | 25.5% | 52.8% | ||
| Q2 24 | 31.8% | 31.9% | ||
| Q1 24 | 30.0% | 20.0% |
| Q4 25 | 1.6% | -3.7% | ||
| Q3 25 | 18.3% | -14.3% | ||
| Q2 25 | 17.2% | 1.0% | ||
| Q1 25 | 20.8% | -115.6% | ||
| Q4 24 | 11.2% | -22.7% | ||
| Q3 24 | 13.7% | -73.1% | ||
| Q2 24 | 17.8% | -90.9% | ||
| Q1 24 | 15.9% | -270.3% |
| Q4 25 | 2.6% | -17.0% | ||
| Q3 25 | 9.1% | -29.0% | ||
| Q2 25 | 13.6% | -2.6% | ||
| Q1 25 | 16.5% | -111.0% | ||
| Q4 24 | 10.3% | -23.7% | ||
| Q3 24 | 10.7% | -74.0% | ||
| Q2 24 | 13.9% | -91.8% | ||
| Q1 24 | 12.5% | -270.5% |
| Q4 25 | $0.03 | $-0.01 | ||
| Q3 25 | $0.14 | $-0.02 | ||
| Q2 25 | $0.22 | $0.00 | ||
| Q1 25 | $0.26 | $-0.03 | ||
| Q4 24 | $0.12 | $-0.01 | ||
| Q3 24 | $0.15 | $-0.02 | ||
| Q2 24 | $0.18 | $-0.02 | ||
| Q1 24 | $0.16 | $-0.06 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $5.8M | $3.2M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $24.7M | $38.2M |
| Total Assets | $30.2M | $74.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $5.8M | $3.2M | ||
| Q3 25 | $6.4M | $5.7M | ||
| Q2 25 | $4.9M | $11.4M | ||
| Q1 25 | $3.5M | $15.9M | ||
| Q4 24 | $2.5M | $466.5K | ||
| Q3 24 | $1.0M | $220.4K | ||
| Q2 24 | $486.0K | $608.2K | ||
| Q1 24 | $321.0K | $948.1K |
| Q4 25 | $24.7M | $38.2M | ||
| Q3 25 | $24.3M | $39.6M | ||
| Q2 25 | $23.1M | $42.0M | ||
| Q1 25 | $21.6M | $40.6M | ||
| Q4 24 | $19.7M | $13.5M | ||
| Q3 24 | $18.8M | $13.7M | ||
| Q2 24 | $17.7M | $14.8M | ||
| Q1 24 | $16.5M | $16.7M |
| Q4 25 | $30.2M | $74.2M | ||
| Q3 25 | $30.1M | $69.6M | ||
| Q2 25 | $29.2M | $70.0M | ||
| Q1 25 | $27.5M | $63.5M | ||
| Q4 24 | $24.8M | $42.4M | ||
| Q3 24 | $25.5M | $39.0M | ||
| Q2 24 | $24.9M | $35.7M | ||
| Q1 24 | $23.8M | $35.2M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-92.0K | $-1.5M |
| Free Cash FlowOCF − Capex | $-548.0K | $-3.2M |
| FCF MarginFCF / Revenue | -6.0% | -22.3% |
| Capex IntensityCapex / Revenue | 5.0% | 11.8% |
| Cash ConversionOCF / Net Profit | -0.38× | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-22.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-92.0K | $-1.5M | ||
| Q3 25 | $1.6M | $-7.5M | ||
| Q2 25 | $1.4M | $-3.5M | ||
| Q1 25 | $1.2M | $-6.1M | ||
| Q4 24 | $2.8M | $-3.3M | ||
| Q3 24 | $753.0K | $-2.5M | ||
| Q2 24 | $50.0K | $-1.0M | ||
| Q1 24 | $-1.3M | $-2.7M |
| Q4 25 | $-548.0K | $-3.2M | ||
| Q3 25 | $1.5M | $-8.2M | ||
| Q2 25 | — | $-3.8M | ||
| Q1 25 | $1.1M | $-7.0M | ||
| Q4 24 | $2.5M | $-3.4M | ||
| Q3 24 | $545.0K | $-4.2M | ||
| Q2 24 | $-256.0K | $-3.1M | ||
| Q1 24 | $-1.4M | $-2.8M |
| Q4 25 | -6.0% | -22.3% | ||
| Q3 25 | 13.5% | -64.1% | ||
| Q2 25 | — | -37.7% | ||
| Q1 25 | 9.8% | -136.2% | ||
| Q4 24 | 30.3% | -41.7% | ||
| Q3 24 | 5.8% | -96.9% | ||
| Q2 24 | -2.8% | -69.5% | ||
| Q1 24 | -16.3% | -76.9% |
| Q4 25 | 5.0% | 11.8% | ||
| Q3 25 | 0.4% | 5.9% | ||
| Q2 25 | 0.0% | 3.2% | ||
| Q1 25 | 1.2% | 17.0% | ||
| Q4 24 | 3.9% | 1.5% | ||
| Q3 24 | 2.2% | 38.8% | ||
| Q2 24 | 3.4% | 46.8% | ||
| Q1 24 | 1.3% | 3.5% |
| Q4 25 | -0.38× | — | ||
| Q3 25 | 1.52× | — | ||
| Q2 25 | 0.92× | — | ||
| Q1 25 | 0.67× | — | ||
| Q4 24 | 3.32× | — | ||
| Q3 24 | 0.74× | — | ||
| Q2 24 | 0.04× | — | ||
| Q1 24 | -1.20× | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
OPXS
| Optex Systems OPX Richardson Texas | $5.3M | 58% |
| Applied Optics Center AOC Dallas | $4.0M | 44% |
SSII
| System Sales | $13.4M | 92% |
| Other | $1.2M | 8% |
