$OSIS

OSI SYSTEMS INC

CIK:0001039065|SEC Filings

CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) shares in Thousands, $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
Net revenues:
Total net revenues	$ 1,785,984	$ 1,713,166	$ 1,538,758
Cost of goods sold:
Total cost of goods sold	1,192,892	1,125,984	1,008,300
Gross profit	593,092	587,182	530,458
Operating expenses:
Selling, general and administrative	278,390	290,879	269,731
Research and development	79,141	73,444	65,275
Impairment, restructuring and other charges	16,591	5,335	6,391
Total operating expenses	374,122	369,658	341,397
Income from operations	218,970	217,524	189,061
Interest and other expense, net	(26,224)	(31,430)	(27,847)
Income before income taxes	192,746	186,094	161,214
Provision for income taxes	(38,035)	(36,457)	(33,060)
Net income	$ 154,711	$ 149,637	$ 128,154
Earnings per share:
Basic (in dollars per share)	$ 9.33	$ 8.93	$ 7.55
Diluted (in dollars per share)	$ 8.95	$ 8.71	$ 7.38
Shares used in per share calculation:
Basic (in shares)	16,584	16,760	16,978
Diluted (in shares)	17,280	17,178	17,354
Products
Net revenues:
Total net revenues	$ 1,344,733	$ 1,323,291	$ 1,207,590
Cost of goods sold:
Total cost of goods sold	944,797	908,997	822,346
Services
Net revenues:
Total net revenues	441,251	389,875	331,168
Cost of goods sold:
Total cost of goods sold	$ 248,095	$ 216,987	$ 185,954

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2024
CASH FLOWS FROM OPERATING ACTIVITIES
Net income	$ 154,711	$ 149,637	$ 128,154
Adjustments to reconcile net income to net cash provided by (used in) operating activities, net of effects from acquisitions:
Depreciation and amortization	42,650	43,580	42,209
Stock-based compensation	26,433	31,959	28,706
Provision for (recovery of) losses on accounts receivable	4,130	(617)	5,574
Deferred income taxes	(2,032)	(9,087)	(14,133)
Amortization of debt discount and issuance costs	3,211	1,683
Other	1,116	193	94
Changes in operating assets and liabilities-net of business acquisitions:
Accounts receivable	98,669	(164,721)	(293,639)
Inventories	(10,358)	(9,698)	(57,292)
Prepaid expenses and other assets	(17,952)	2,297	(31,656)
Accounts payable	(35,854)	7,885	52,454
Accrued payroll and related expenses	4,168	(730)	(5,010)
Advances from customers	(25,802)	14,864	31,403
Deferred revenue	11,572	25,495	4,324
Other	21,242	4,852	21,311
Net cash provided by (used in) operating activities	275,904	97,592	(87,501)
CASH FLOWS FROM INVESTING ACTIVITIES
Acquisition of property and equipment	(30,570)	(23,832)	(22,102)
Proceeds from sale of property and equipment	6,491	275	510
Proceeds from maturities of certificates of deposit	18	110	10,329
Acquisition of businesses, net of cash acquired	(26,267)	(76,739)	(9,046)
Payments for intangible and other assets	(17,980)	(17,665)	(17,330)
Net cash used in investing activities	(68,308)	(117,851)	(37,639)
CASH FLOWS FROM FINANCING ACTIVITIES
Net borrowings (repayments) on bank lines of credit	(178,000)	(206,000)	169,000
Proceeds from long-term debt	663,039	340,679	1,435
Payments on long-term debt	(136,831)	(8,277)	(8,450)
Proceeds from exercise of stock options and employee stock purchase plan	7,280	8,011	6,178
Payment of contingent consideration	(486)	(477)	(602)
Repurchase of common stock	(271,905)	(80,443)
Taxes paid related to net share settlement of equity awards	(36,397)	(22,671)	(23,311)
Net cash provided by financing activities	46,700	30,822	144,250
Effect of exchange rate changes on cash	(869)	489	(507)
Net increase in cash and cash equivalents	253,427	11,052	18,603
Cash and cash equivalents-beginning of year	106,405	95,353	76,750
Cash and cash equivalents-end of year	359,832	106,405	95,353
Supplemental disclosure of cash flow information:
Interest paid	20,504	26,837	26,761
Income taxes paid	$ 43,000	$ 39,901	$ 42,100

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Jun. 30, 2025
CURRENT ASSETS:
Cash and cash equivalents	$ 359,832	$ 106,405
Accounts receivable, net	764,626	837,743
Inventories	415,562	407,174
Prepaid expenses and other current assets	71,671	71,539
Total current assets	1,611,691	1,422,861
Property and equipment, net	129,942	126,747
Goodwill	406,677	387,393
Intangible assets, net	192,355	183,290
Other assets	161,787	120,966
Total assets	2,502,452	2,241,257
CURRENT LIABILITIES:
Bank lines of credit	0	178,000
Current portion of long-term debt	2,531	8,130
Accounts payable	168,981	205,181
Accrued payroll and related expenses	51,819	49,535
Advances from customers	42,391	68,184
Deferred revenue	91,036	77,788
Other accrued expenses and current liabilities	154,377	110,120
Total current liabilities	511,135	696,938
Long-term debt, net	998,518	463,504
Deferred income taxes	5,463	3,334
Other long-term liabilities	154,375	126,397
Total liabilities	1,669,491	1,290,173
Commitments and contingencies (Note 11)
Stockholders' Equity:
Preferred stock, $0.001 par value - 10,000,000 shares authorized; no shares issued or outstanding
Common stock, $0.001 par value-100,000,000 shares authorized; issued and outstanding, 16,794,399 and 15,918,066 shares at June 30, 2025 and 2026, respectively	17	29,758
Retained earnings	852,117	942,254
Accumulated other comprehensive loss	(19,173)	(20,928)
Total stockholders' equity	832,961	951,084
Total liabilities and stockholders' equity	$ 2,502,452	$ 2,241,257