Precision Optics (POCI) announced an initial $340,000 production order from a large, global medical device company to provide initial stocking quantities of a new single-use ophthalmic endoscope. Production is scheduled to begin in January 2025 and proceed over the following five months, to provide starting inventory levels to support product launch currently expected to occur around June 2025. The company expects follow-on orders to support first year requirements after launch with delivery rates two to three times those of this initial stocking order. The companies have previously entered into a licensing agreement that sets terms under which POC will manufacture the product or receive royalties if the product is manufactured by the customer or a third-party.
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