OSI Systems shares fell 13.41% to $188.84 in after-hours trading Thursday after the company reported fiscal 2026 results and expanded its stock repurchase authorization. The stock had closed the regular session down 1.28% at $218.09. Fiscal 2026 revenue rose 4% year over year to $1.79 billion, while GAAP diluted EPS increased to $8.95 from $8.71 and non-GAAP diluted EPS climbed 11% to $10.35. Cash and cash equivalents rose to $359.8 million from $106.4 million, and the company reported a record backlog of approximately $1.9 billion as of June 30. OSI Systems expects fiscal 2027 revenue of $1.875 billion to $1.93 billion and non-GAAP diluted EPS of $11.13 to $11.49. Its board approved authorization to repurchase an additional 1 million shares, bringing the total remaining authorization to 1,078,731 shares, after the company repurchased 564,880 shares for $123.6 million during the fiscal fourth quarter. President and CEO Ajay Mehra said Middle East conflicts affected the timing of certain deliveries, but said the delays did not reflect order cancellations and remained in the backlog with updated schedules.