Omni-Lite Industries Canada Inc. (OML) reported record quarterly revenue of $4.8 million for Q2 2026, a 21% increase in its stock price to $2.54, and a backlog of $10.7 million heading into Q3.
The company’s adjusted EBITDA reached $926,000 for the quarter, bringing year-to-date adjusted EBITDA to $1.8 million. Bookings totaled $6.4 million, yielding a book-to-bill ratio of 1.34x. Gross margin remained steady at approximately 33%, below the long-term target of 40% to 50%. Cash and cash equivalents increased by $213,000 year-over-year to $3.1 million, while adjusted free cash flow for the quarter was about $132,000. The company remains debt-free.
Revenue growth was driven by higher demand for forged fastener products and electronic components, particularly in missile defense applications. The company’s DP Cast operation, a Canadian subsidiary, grew 30% sequentially, supported by improved pricing and operational efficiencies. Back-end-loaded pricing is expected to strengthen further in the second half of 2026.
Omni-Lite’s electronic components business, launched roughly a year ago, is gaining traction in programs such as the PAC-3 missile defense system, with qualification pipelines expanding. Demand for rivets in military and commercial aerospace applications also contributed to revenue, with multiple programs in near-continuous production.
Capital spending is projected to rise modestly from historical lows, focusing on monitoring systems for electronic production, small automation projects, and labor-saving tools. The company’s interim CEO, David Robbins, noted that pricing adjustments and productivity improvements supported DP Cast’s performance. The board continues its search for a permanent CEO, with no timeline provided for an announcement.
The stock’s 52-week range spans from a low of $1.23 to a high of $2.62, with the current price roughly 3% below the peak. Over the past six months, the stock has delivered a 66% return according to InvestingPro data, which assigned the company a financial health score of 2.66 out of 5.
