Omni Lite Industries Canada (OML) Q2 2026 earnings summary

Executive summary

• Achieved record Q2 2026 revenue of $4.8 million, up 39% year-over-year, driven by strong demand and organic growth in forged fastener and electronic components.

• Adjusted EBITDA for Q2 was $926,000, with a 19.3% margin and year-to-date adjusted EBITDA at $1.8 million, reflecting significant profitability improvement.

• Bookings reached $6.4 million, resulting in a 1.34 book-to-bill ratio and a record backlog of $10.7 million entering Q3.

• Maintained robust liquidity with $3.1 million in cash and no outstanding debt.

Financial highlights

• Quarterly revenue increased to $4.8 million from $3.5 million year-over-year.

• Net income for the quarter was $518,000, up from a net loss of $166,000 in the prior year.

• Adjusted EBITDA rose to $926,000 from $95,000 year-over-year, with margin expanding to 19.3% from 2.7%.

• Gross margin held steady at 33% for the quarter, consistent with the previous quarter.

• Adjusted free cash flow was $132,000, with a cash balance of $3.1 million, up $213,000 year-over-year.

Outlook and guidance

• Backlog conversion rate remains around 50% for next quarter's revenue, with robust revenue expected in coming quarters due to strong bookings.

• Anticipates further margin improvement as pricing adjustments and operational improvements, especially at DP Cast, take full effect in the second half of the year.

• Targeting gross margins in the 40%-50% range as pricing and productivity initiatives continue.

• Management expects continued strong demand and operational discipline to support future growth.