Lyntris (LYNX) Registration filing summary

Company overview and business model

• Provides sense-to-act connectivity solutions for defense, integrating sensor architecture, hardware, and data/software for U.S. and allied military customers.

• Solutions span maritime domain awareness, air & missile defense, and space ISR & resilient communications.

• Vertically integrated with proprietary IP, over 1,000 employees, and a history of 12 acquisitions since 2018.

• Revenue is highly diversified across 200+ programs, with 90% from sole- or single-source positions.

• Business model emphasizes long-term, recurring revenue through embedded IP and early program engagement.

Financial performance and metrics

• Revenue grew 16.5% to $388.9M in 2025, with $241.0M in the first half of 2026 (up 34.6% YoY).

• Net losses: $8.5M in 2025 (2.2% margin), $13.0M for the first half of 2026 (5.4% margin).

• Adjusted EBITDA: $62.6M in 2025 (16.1% margin), $37.8M for the first half of 2026 (15.7% margin).

• Backlog increased to $923.9M as of June 30, 2026, up from $475.8M at year-end 2025.

• Cash flow from operations was $34.9M for the first half of 2026, compared to a $13.3M outflow in the prior year period.

Use of proceeds and capital allocation

• Net proceeds from the IPO will be used for general corporate purposes, including development, working capital, and operational expenses.

• No proceeds will be received from shares sold by selling stockholders.

• Management has broad discretion over use of proceeds.