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LightPath Technologies Reports Fiscal 2027 First Quarter Financial Results

LPTH
  • LightPath Technologies reported a record order backlog of $132.9 million for the fiscal 2027 first quarter ended September 30, 2026, representing a 54% year-over-year increase.
  • Revenue for the quarter rose 38% to $20.8 million, driven by a 76% surge in Assemblies & Modules revenue which now accounts for 51% of total sales.
  • Gross margin expanded to 41.4% from 29.8% in the prior year period, resulting in a gross profit of $8.6 million, a 92% increase.
  • The company achieved positive Adjusted EBITDA of $1.3 million, marking the fifth consecutive quarter of profitability on this metric, up from $0.4 million previously.
  • Net loss narrowed to $1.7 million compared to $2.9 million in the same quarter last year, with losses per share improving to $0.02 from $0.07.
  • Operating expenses increased to $10.8 million due to higher SG&A costs, including $1.4 million in stock-based compensation, and a $1.2 million rise in new product development spending.
  • The company secured over $30 million in follow-on C-UAS orders, including $19 million in optical assembly orders from a major defense supplier and an $11 million infrared camera order.
  • LightPath received an October 2026 order for over 50,000 optical assemblies for drone camera systems as U.S. and allied drone procurement scales up.
  • A funded prototype agreement was awarded under the Department of War's CLEAR program to develop BlackDiamond™ chalcogenide glass as a germanium alternative for defense EO/IR systems.
  • The company completed the sale of its China subsidiary, LightPath Optical Instrumentation (Zhenjiang) Co., Ltd., on October 30, 2026, ending all China-based operations.
  • Management strengthened its leadership team with the promotion of Michael Amorelli to VP of Engineering, Imaging Systems, and the appointment of Scott Payette as VP and GM of G5 Infrared.
  • Cash and cash equivalents decreased to $82.9 million from $93.2 million, primarily due to a $10.1 million investment in working capital and $2.5 million in capital expenditures for manufacturing capacity.
  • Approximately $110.8 million of the current backlog is requested by customers for delivery within the next twelve months.
  • The company's primary manufacturing footprint remains in Orlando, Florida, with additional facilities in Texas, New Hampshire, and Latvia.
Company
LightPath Technologies, Inc.
Keywords
Computers, Technology & Internet, Earnings