ORLANDO, Fla., Aug. 11, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced that management has been invited to present at the Canaccord Genuity 45th Annual Growth Conference taking place on August 13, 2025 in Boston, Massachusetts.Sam Rubin, President and Chief Executive Officer of LightPath, is scheduled to present and host one-o ...

Initial Two Cameras Redesigned Utilizing Proprietary BlackDiamond™ Glass in Place of Germanium to Start Production as Part of Planned Transition to Wider Range of Germanium-Free Products ORLANDO, Fla., Aug. 5, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced its subsidiary G5 Infrared ("G5"), a leading high-end infrared c ...

Group 1 - The service SHU Growth Portfolio focuses on small companies with high growth potential and offers real-time buy and sell signals along with trading opportunities [1][2] - The approach includes a buy and hold strategy with tranche purchases, providing an illustrative portfolio, buy alerts, and market updates [2] - The analyst aims to identify companies with defensible competitive advantages and business models that can generate significant operational leverage [1] Group 2 - The service is managed by an experienced individual with over 30 years in financial markets, emphasizing a portfolio approach to mitigate risks while seeking multi-bagger potential [2] - The community aspect includes a chat room for discussions and updates, enhancing engagement among investors [2]

[Part I - Financial Information](index=3&type=section&id=Part%20I%20Financial%20Information) This section presents the company's financial performance and position, including statements, notes, and management's analysis [Financial Statements](index=3&type=section&id=Item%201.%20Financial%20Statements) The company's financial statements for the period ended March 31, 2025, reflect significant changes primarily due to the acquisition of G5 Infrared, impacting assets, liabilities, and net loss [Unaudited Condensed Consolidated Balance Sheets](index=3&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) As of March 31, 2025, total assets increased to $81.4 million, primarily driven by the G5 Infrared acquisition, while total liabilities and preferred stock also rose significantly Condensed Consolidated Balance Sheet Highlights (in thousands) | Account | March 31, 2025 | June 30, 2024 | Change | | :--- | :--- | :--- | :--- | | **Assets** | | | | | Total current assets | $28,081 | $15,537 | +80.7% | | Intangible assets, net | $21,476 | $3,651 | +488.2% | | Goodwill | $9,741 | $6,764 | +44.0% | | **Total assets** | **$81,421** | **$48,087** | **+69.3%** | | **Liabilities & Equity** | | | | | Total current liabilities | $12,231 | $8,036 | +52.2% | | Warrant liability | $3,961 | $0 | N/A | | **Total liabilities** | **$31,297** | **$17,887** | **+75.0%** | | Series G Convertible Preferred Stock | $34,400 | $0 | N/A | | **Total stockholders' equity** | **$15,724** | **$30,200** | **-47.9%** | [Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss)](index=4&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) For Q3 FY2025, revenue increased 19% year-over-year to $9.2 million, but the net loss widened to $3.6 million due to higher operating expenses despite improved gross profit Statement of Comprehensive Income (Loss) Highlights (in thousands, except per share data) | Metric | Q3 2025 | Q3 2024 | 9 Months 2025 | 9 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Revenue, net | $9,168 | $7,699 | $24,993 | $23,092 | | Gross Profit | $2,664 | $1,606 | $7,439 | $6,106 | | Operating Loss | $(3,323) | $(2,583) | $(7,184) | $(5,617) | | Net Loss | $(3,582) | $(2,598) | $(7,817) | $(5,654) | | Loss per share (basic & diluted) | $(0.09) | $(0.07) | $(0.19) | $(0.15) | [Unaudited Condensed Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Statements%20of%20Cash%20Flows) For the nine months ended March 31, 2025, cash flow from operations shifted to a $5.7 million use, while financing activities provided $29.6 million, primarily for the G5 Infrared acquisition Cash Flow Summary (Nine Months Ended March 31) | Cash Flow Activity | 2025 (in thousands) | 2024 (in thousands) | | :--- | :--- | :--- | | Net cash (used in) provided by operating activities | $(5,681) | $456 | | Net cash used in investing activities | $(20,820) | $(2,375) | | Net cash provided by (used in) financing activities | $29,572 | $(2,070) | | **Change in cash and cash equivalents** | **$2,999** | **$(3,986)** | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail the February 2025 acquisition of G5 Infrared for approximately $27.6 million, its financing, revenue growth drivers, and risks from China's Germanium export restrictions - In February 2025, the Company acquired G5 Infrared for aggregate consideration of approximately **$27.6 million**, consisting of **$20.25 million** in cash, **1,972,501 shares** of common stock, and potential earnout payments[43](index=43&type=chunk)[47](index=47&type=chunk) - The G5 acquisition was funded in part by issuing approximately **24,956 shares** of Series G Convertible Preferred Stock, warrants to purchase **4.35 million shares** of Class A Common Stock, and **$5.2 million** in senior secured promissory notes[57](index=57&type=chunk) Revenue by Product Group (Nine Months Ended March 31) | Product Group | 2025 (in thousands) | 2024 (in thousands) | % Change | | :--- | :--- | :--- | :--- | | Infrared components | $9,363 | $11,046 | -15% | | Visible components | $8,901 | $8,056 | +10% | | Assemblies and modules | $3,803 | $3,078 | +24% | | Engineering services | $2,925 | $912 | +221% | | **Total revenue** | **$24,993** | **$23,092** | **+8%** | - The company highlights significant risks from China's export restrictions on Germanium, a key raw material, which has disrupted supply and increased costs, prompting redesign efforts with proprietary BlackDiamond materials[133](index=133&type=chunk)[134](index=134&type=chunk)[135](index=135&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=26&type=section&id=Item%202.%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's strategic shift to imaging subsystems, Q3 FY2025 financial performance, liquidity, operational strategy, and non-GAAP measures, highlighting acquisition impacts and Germanium export risks [Results of Operations](index=28&type=section&id=Results%20of%20Operations) In Q3 FY2025, revenue increased 19% year-over-year to $9.2 million, driven by acquisitions and higher-margin services, but the net loss widened to $3.6 million due to increased operating expenses - Q3 FY2025 revenue increased **19% YoY** to **$9.2 million**, driven by a **123% increase** in Assemblies & Modules revenue (including **$0.9 million** from G5 Infrared) and a **54% increase** in Engineering Services revenue[162](index=162&type=chunk)[165](index=165&type=chunk)[166](index=166&type=chunk) - Gross margin for Q3 FY2025 improved to **29%** from **21%** in the prior-year quarter, attributed to a more favorable product mix with higher-margin assemblies and engineering services[172](index=172&type=chunk) - SG&A costs for Q3 FY2025 increased by **40% YoY**, primarily due to **$0.7 million** in due diligence and other costs related to the G5 Infrared acquisition[175](index=175&type=chunk) - Net loss for Q3 FY2025 was **$3.6 million**, an increase from **$2.6 million** in Q3 FY2024, mainly due to higher SG&A, interest expense, and amortization, despite higher gross profit[184](index=184&type=chunk) [Liquidity and Capital Resources](index=32&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2025, the company had $15.9 million in working capital and $6.5 million in cash, significantly bolstered by $29.3 million in financing activities for the G5 Infrared acquisition - As of March 31, 2025, the company had working capital of approximately **$15.9 million** and cash and cash equivalents of **$6.5 million**[192](index=192&type=chunk) - For the nine months ended March 31, 2025, net cash provided by financing activities was **$29.3 million**, primarily from the strategic financing for the G5 acquisition, which included proceeds from preferred stock and loans[202](index=202&type=chunk) - Cash used in operations for the first nine months of fiscal 2025 was **$5.4 million**, compared to cash provided by operations of **$0.5 million** in the prior year period[200](index=200&type=chunk) [How We Operate](index=33&type=section&id=How%20We%20Operate) The company's operational strategy focuses on securing long-term 'design wins' and 'engineered solutions' to create stable revenue, with the total sales backlog growing 25% year-over-year to $27.4 million - The company's strategy is to create an annuity revenue stream by securing 'design wins' through customer product development and providing 'engineered solutions'[204](index=204&type=chunk) Total Sales Backlog Trend | Quarter | Total Backlog ($ thousands) | Change From Prior Year End | Change From Prior Quarter End | | :--- | :--- | :--- | :--- | | Q3 2024 | $21,967 | 1% | 4% | | Q4 2024 | $19,268 | (11)% | (12)% | | Q1 2025 | $20,542 | 7% | 7% | | Q2 2025 | $19,767 | 3% | (4)% | | Q3 2025 | $27,423 | 42% | 39% | - The acquisition of G5 Infrared added **$5.6 million** to the backlog, with the backlog for G5 Infrared products reaching **$9.9 million** as of March 31, 2025[210](index=210&type=chunk) [Non-GAAP Financial Measures](index=36&type=section&id=Non-GAAP%20Financial%20Measures) The company uses non-GAAP measures like Adjusted EBITDA to evaluate core operating performance, with Adjusted EBITDA for Q3 FY2025 showing a loss of $2.0 million, primarily due to acquisition-related expenses Reconciliation of Net Loss to Adjusted EBITDA (in thousands) | Metric | Q3 2025 | Q3 2024 | 9 Months 2025 | 9 Months 2024 | | :--- | :--- | :--- | :--- | :--- | | Net loss | $(3,582) | $(2,598) | $(7,817) | $(5,654) | | EBITDA | $(1,532) | $(1,511) | $(3,495) | $(2,397) | | **Adjusted EBITDA** | **$(1,984)** | **$(1,511)** | **$(3,947)** | **$(2,397)** | - The decrease in Adjusted EBITDA in Q3 FY2025 was primarily attributable to increased SG&A, which included **$0.7 million** of non-recurring expenses related to the G5 Infrared acquisition[229](index=229&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=37&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) As a 'smaller reporting company,' the registrant is not required to provide the information for this item - As a 'smaller reporting company,' the registrant is not required to provide the information required by this Item[231](index=231&type=chunk) [Controls and Procedures](index=37&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that the company's disclosure controls and procedures were effective as of March 31, 2025, with no significant changes in internal control over financial reporting during the quarter - Based on an evaluation as of March 31, 2025, the Chief Executive Officer and Chief Financial Officer concluded that the company's disclosure controls and procedures were effective[232](index=232&type=chunk) - There have not been any significant changes in internal control over financial reporting during the three months ended March 31, 2025, that have materially affected, or are reasonably likely to materially affect, internal controls[233](index=233&type=chunk) [Part II - Other Information](index=38&type=section&id=Part%20II%20Other%20Information) This section covers legal proceedings, updated risk factors, unregistered sales of equity securities, defaults, and other disclosures [Legal Proceedings](index=38&type=section&id=Item%201.%20Legal%20Proceedings) The company is not involved in any pending legal proceedings expected to have a material adverse effect on its financial condition or results of operations - The Company is not involved in any pending legal proceeding that it believes would reasonably be expected to have a material adverse effect on its financial condition or results of operations[234](index=234&type=chunk) [Risk Factors](index=38&type=section&id=Item%201A.%20Risk%20Factors) The company highlights elevated risks from geopolitical tensions and international trade policies, including China's Germanium export restrictions, which could impact its supply chain and costs - A key updated risk factor is the material adverse impact from elevated geopolitical tensions and volatile international trade policies, including tariffs and export controls[236](index=236&type=chunk) - China's export limitations on rare earth minerals like Germanium are specifically cited as a risk that could impair manufacturing, increase costs, and disadvantage the company in international markets[236](index=236&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=38&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities,%20Use%20of%20Proceeds,%20and%20Issuer%20Purchases%20of%20Equity%20Securities) There were no unregistered sales of equity securities during the period - None[237](index=237&type=chunk) [Defaults Upon Senior Securities](index=38&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) There were no defaults upon senior securities during the period - None[238](index=238&type=chunk) [Other Information](index=39&type=section&id=Item%205.%20Other%20Information) During the third quarter of fiscal 2025, no director or officer of the company adopted or terminated a Rule 10b5-1 trading arrangement or a non-Rule 10b5-1 trading arrangement - During the three months ended March 31, 2025, no director or officer of the Company adopted or terminated a 'Rule 10b5-1 trading arrangement' or 'non-Rule 10b5-1 trading arrangement'[239](index=239&type=chunk) [Exhibits](index=39&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the report, including agreements related to the G5 Infrared acquisition and financing, as well as CEO and CFO certifications

Company Performance - LightPath Technologies reported a quarterly loss of $0.10 per share, which was worse than the Zacks Consensus Estimate of a loss of $0.05, and compared to a loss of $0.07 per share a year ago, indicating an earnings surprise of -100% [1] - The company posted revenues of $9.17 million for the quarter ended March 2025, missing the Zacks Consensus Estimate by 1.21%, and this represents an increase from year-ago revenues of $7.7 million [2] - Over the last four quarters, LightPath Technologies has surpassed consensus EPS estimates only once [2] Stock Performance - LightPath Technologies shares have declined approximately 24.9% since the beginning of the year, while the S&P 500 has gained 0.2% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.03 on revenues of $12.93 million, and for the current fiscal year, it is -$0.18 on revenues of $38.04 million [7] Industry Outlook - The Electronics - Miscellaneous Components industry, to which LightPath Technologies belongs, is currently ranked in the top 26% of over 250 Zacks industries, suggesting a favorable outlook [8] - Empirical research indicates a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact LightPath Technologies' stock performance [5]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased by 19.1% to $9.2 million compared to $7.7 million in the same quarter last year [28] - Gross profit rose by 66% to $2.7 million, representing 29.1% of total revenues, up from 20.9% in the prior year [29] - Operating expenses increased by 44% to $6 million, primarily due to higher legal consulting fees and costs associated with the G5 acquisition [29] - Net loss for the quarter totaled $3.6 million, compared to a loss of $2.6 million in the same quarter last year [30] - Cash and cash equivalents as of March 31, 2025, totaled $6.5 million, up from $3.5 million as of June 30, 2024 [30] Business Line Data and Key Metrics Changes - Revenue from infrared components was $3.6 million (40% of total revenue), visible components at $2.8 million (31%), assemblies and modules at $1.9 million (20%), and engineering services at $800,000 (9%) [28] - The new direction of the company, including optical assemblies and cameras, now constitutes roughly 50% of total revenue, with the other half from optical components [7] Market Data and Key Metrics Changes - The company has seen significant growth in demand for its proprietary Black Diamond materials, leading to the need for increased manufacturing capacity [15] - The company has reduced its exposure to risks associated with tariffs and recessions in China, with 45% of headcount and 56% of footprint now in the U.S. [18][19] Company Strategy and Development Direction - The company is transitioning from a pure component supplier to a vertically integrated global solution provider for infrared imaging technologies [4] - Recent acquisitions, including G5 infrared, are expected to enhance the company's capabilities in high-margin, high-ASP products, particularly in defense [35] - The company aims to achieve long-term goals of 15% EBITDA margins and sustained growth [35] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, citing geopolitical tensions and new product launches as key drivers [4] - The company is focused on optimizing internal supply chains and engaging with customers regarding supply chain resilience [20] - Management acknowledged potential challenges related to the supply of germanium but noted that redesigns using Black Diamond materials are progressing well [22][23] Other Important Information - The G5 acquisition is expected to generate $51 million in revenue over the twelve months following the acquisition [33] - The company has booked over $19 million in new orders in the 90 days following the G5 acquisition [16] Q&A Session Summary Question: Can you discuss the delays related to the Apache program? - Management indicated that delays were due to taking on a challenging project and capacity issues, but they do not foresee any permanent problems [40][41] Question: What is the outlook for gross margins in the next quarter? - Management expects gross margins to increase due to a full quarter of higher-margin assemblies and modules from G5 [49] Question: What is the current backlog number? - The backlog as of March was reported at $27.4 million [28] Question: Is the $51 million revenue expectation for G5 a downshift from previous estimates? - Management clarified that the $51 million figure pertains to a different timeframe than previously discussed [53] Question: What is the status of the Navy and border security contracts? - The Navy contract has been awarded, while the border security contract is more complex and involves multiple suppliers [95][96] Question: How is the integration of sales teams progressing post-acquisition? - Management confirmed that the sales teams are working closely together, despite a recent resignation in the sales leadership [80][82]

Financial Data and Key Metrics Changes - Revenue for Q3 2025 increased by 19.1% to $9.2 million compared to $7.7 million in the same quarter of the previous year [31] - Gross profit rose by 66% to $2.7 million, representing 29.1% of total revenues, up from 20.9% in the same quarter last year [32] - Operating expenses increased by 44% to $6 million, primarily due to higher legal consulting fees and costs associated with the G5 acquisition [32] - Net loss for the quarter totaled $3.6 million, compared to a loss of $2.6 million in the same quarter last year [33] - Cash and cash equivalents as of March 31, 2025, totaled $6.5 million, up from $3.5 million as of June 30, 2024 [33] Business Line Data and Key Metrics Changes - Revenue from infrared components was $3.6 million (40% of total revenue), visible components at $2.8 million (31%), assemblies and modules at $1.9 million (20%), and engineering services at $800,000 (9%) [31] - The new direction of the company, including optical assemblies and cameras, now accounts for roughly 50% of revenue, with the other half from optical components [7][8] Market Data and Key Metrics Changes - The company has seen strong growth in demand for its proprietary Black Diamond materials, leading to the need for increased manufacturing capacity [16] - The company has reduced its exposure to risks associated with tariffs and recession in China, with 45% of headcount and 56% of footprint now in the U.S. [20][21] Company Strategy and Development Direction - The company is transitioning from a pure component supplier to a vertically integrated global solution provider for infrared imaging technologies [5] - Recent acquisitions, including G5 infrared, are expected to enhance the company's product offerings and revenue potential, particularly in defense applications [35] - The company aims to achieve long-term goals of 15% EBITDA margins and sustained growth [37] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's growth trajectory, driven by geopolitical tensions and new product launches [5][39] - The company is focused on optimizing internal supply chains and engaging with customers regarding supply chain resilience [22] - Management acknowledged potential challenges related to supply chain and material availability but remains optimistic about the company's positioning [23][24] Other Important Information - The G5 acquisition is expected to generate $51 million in revenue in the twelve months following the acquisition, with new bookings of $13 million since the acquisition [35] - The company is integrating G5 and leveraging its expertise to maximize revenues and earnings [34] Q&A Session Summary Question: Can you discuss the delays related to the Apache program? - Delays were due to the complexity of the project and unexpected demand in other areas, not due to customer issues [41][42] Question: What is the status of the new fast-paced project related to BD glass? - The project is progressing quickly with government support, and it is expected to generate significant revenue once in production [44][45] Question: What is the outlook for gross margins in the next quarter? - Gross margins are expected to increase due to a full quarter of higher-margin products from G5 [48][49] Question: What is the backlog number as of March? - The backlog totaled $27.4 million [52] Question: What is the status of the Navy and border security contracts? - The Navy contract has been awarded, while the border security contract is more complex and involves multiple suppliers [99][100] Question: How is G5 tracking towards its revenue targets? - G5 is on course to meet its revenue targets, with no red flags observed so far [111][112]

[LightPath Technologies Q3 Fiscal 2025 Earnings Release](index=1&type=section&id=LightPath%20Technologies%20Reports%20Third%20Quarter%20Fiscal%202025%20Financial%20Results) [Financial and Operational Highlights](index=1&type=section&id=Financial%20and%20Operational%20Highlights) Revenue grew 19.1% driven by the G5 Infrared acquisition, though net loss widened due to increased operating expenses Q3 FY2025 Financial Summary (YoY) | $ in millions | Q3 2025 | Q3 2024 | % Change | | :--- | :--- | :--- | :--- | | **Revenue** | $9.2 | $7.7 | 19.1% | | **Gross Profit** | $2.7 | $1.6 | 65.9% | | **Operating Expenses** | $6.0 | $4.2 | 44.3% | | **Net Income (Loss)** | ($3.6) | ($2.6) | 37.1% | | **Adj. EBITDA* (non-GAAP)** | ($2.0) | ($1.5) | 31.3% | - The acquisition of G5 Infrared is a key part of the strategy to become a leading provider in the **$9 billion infrared imaging market**[4](index=4&type=chunk)[5](index=5&type=chunk) - Significant new orders following the G5 acquisition validate the strategic move, including a **$4.8 million** initial order, a **$4.9 million** follow-on order, and a **$2.2 million** order from L3Harris[5](index=5&type=chunk)[7](index=7&type=chunk) - The company is **emphasizing its Germanium-free BlackDiamond™ infrared solutions** due to China's export ban on Germanium, which impacts competing products[6](index=6&type=chunk) - LightPath is **advancing with key defense programs**, including delivering flightworthy hardware to Lockheed Martin for a major U.S. Army missile program[8](index=8&type=chunk) [Detailed Financial Results (Q3 FY2025)](index=2&type=section&id=Third%20Quarter%20Fiscal%202025%20Financial%20Results) Revenue grew 19.1% and gross margin improved to 29.1%, but higher operating expenses led to a wider net loss of $3.6 million Revenue by Product Group (Q3 FY2025 vs Q3 FY2024) | Product Group Revenue ($ in millions) | Q3 FY2025 | Q3 FY2024 | % Change | | :--- | :--- | :--- | :--- | | Infrared Components | $3.6 | $3.6 | 0% | | Visible Components | $2.8 | $2.7 | 6% | | Assemblies & Modules | $1.9 | $0.8 | 123% | | Engineering Services | $0.8 | $0.5 | 54% | | **Total Revenue** | **$9.2** | **$7.7** | **19.1%** | - **Gross profit increased 65.9% to $2.7 million**, and gross margin improved to 29.1% of revenue from 20.9% in the prior year due to a more favorable product mix[9](index=9&type=chunk) - **Operating expenses rose 42.9% to $6.0 million**, primarily due to higher legal and consulting fees related to the G5 acquisition and increased product development spending[10](index=10&type=chunk) - **Net loss for the quarter was $3.6 million ($0.09 per share)**, an increase from the $2.6 million loss ($0.07 per share) in the prior year's quarter[11](index=11&type=chunk) - **Adjusted EBITDA loss was $2.0 million**, compared to a loss of $1.5 million for the same period of the prior fiscal year[11](index=11&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=Use%20of%20Non-GAAP%20Financial%20Measures) The company uses Adjusted EBITDA to clarify core performance, reconciling a Q3 net loss of $3.6 million to an Adjusted EBITDA loss of $2.0 million - The company **uses EBITDA and Adjusted EBITDA to help investors understand period-over-period operating results** by excluding items that could have a disproportionate impact[16](index=16&type=chunk)[17](index=17&type=chunk) Reconciliation of Net Loss to Adjusted EBITDA (unaudited) | | Three Months Ended March 31, | Nine Months Ended March 31, | | :--- | :--- | :--- | | | **2025** | **2024** | **2025** | **2024** | | **Net loss** | **$ (3,560,349)** | **$ (2,597,534)** | **$ (7,795,091)** | **$ (5,653,573)** | | Depreciation and amortization | 1,463,150 | 1,042,850 | 3,356,752 | 2,985,850 | | Income tax provision | 100,031 | 5,798 | 160,192 | 121,402 | | Interest expense | 498,862 | 37,649 | 817,275 | 149,048 | | **EBITDA** | **$ (1,498,306)** | **$ (1,511,237)** | **$ (3,460,872)** | **$ (2,397,273)** | | Loss on extinguishment of debt | 418,502 | - | 418,502 | - | | Change in fair value of warrant liability | (904,694) | - | (904,694) | - | | **Adjusted EBITDA** | **$ (1,984,498)** | **$ (1,511,237)** | **$ (3,947,064)** | **$ (2,397,273)** | [Consolidated Financial Statements](index=4&type=section&id=LIGHTPATH%20TECHNOLOGIES,%20INC.%20Condensed%20Consolidated%20Financial%20Statements) This section presents the condensed consolidated balance sheets, statements of income, changes in equity, and cash flows [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Total assets grew to $81.4 million and liabilities to $31.5 million due to the G5 acquisition, while stockholders' equity decreased Balance Sheet Comparison | Assets & Liabilities ($) | March 31, 2025 | June 30, 2024 | | :--- | :--- | :--- | | **Total current assets** | 28,081,126 | 15,537,335 | | **Total assets** | **81,420,816** | **48,086,964** | | **Total current liabilities** | 12,230,541 | 8,036,348 | | **Total liabilities** | **31,452,128** | **17,887,299** | | **Total stockholders equity** | **15,569,066** | **30,199,665** | - The G5 acquisition significantly impacted the balance sheet, with **Intangible assets increasing to $21.5 million** and **Goodwill increasing to $9.7 million**[24](index=24&type=chunk) - A **new warrant liability of $4.1 million** was recorded on the balance sheet as of March 31, 2025[24](index=24&type=chunk) [Condensed Consolidated Statements of Comprehensive Income (Loss)](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) Q3 FY2025 revenue was $9.2 million with a net loss of $3.6 million, while the nine-month net loss reached $7.8 million Statement of Comprehensive Income (Loss) - Three Months Ended March 31 | ($) | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue, net** | 9,167,627 | 7,699,175 | | **Gross profit** | 2,664,101 | 1,606,187 | | **Operating loss** | (3,323,289) | (2,583,196) | | **Net loss** | (3,560,349) | (2,597,534) | | **Loss per common share (basic & diluted)** | (0.09) | (0.07) | Statement of Comprehensive Income (Loss) - Nine Months Ended March 31 | ($) | 2025 | 2024 | | :--- | :--- | :--- | | **Revenue, net** | 24,992,837 | 23,092,060 | | **Gross profit** | 7,439,361 | 6,106,214 | | **Operating loss** | (7,184,436) | (5,617,147) | | **Net loss** | (7,795,091) | (5,653,573) | | **Loss per common share (basic & diluted)** | (0.19) | (0.15) | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders'%20Equity) Stockholders' equity declined to $15.6 million, impacted by a net loss and the issuance of $34.4 million in temporary equity - **Total stockholders' equity decreased from $30,199,665** at June 30, 2024, **to $15,569,066** at March 31, 2025[29](index=29&type=chunk)[30](index=30&type=chunk) - The company **issued Series G Convertible Preferred Stock valued at $34,399,622**, which is classified as temporary equity[25](index=25&type=chunk)[30](index=30&type=chunk) - **Common stock shares issued and outstanding increased from 39,254,643 to 42,893,563**, partly due to issuances for the acquisition of G5[29](index=29&type=chunk)[30](index=30&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=9&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operations was negative $5.4 million, but financing activities provided $29.3 million, increasing total cash by $3.0 million Cash Flow Summary (Nine Months Ended March 31) | ($) | 2025 | 2024 | | :--- | :--- | :--- | | **Net cash (used in) provided by operating activities** | (5,374,699) | 456,343 | | **Net cash used in investing activities** | (20,820,089) | (2,375,091) | | **Net cash provided by (used in) financing activities** | 29,265,538 | (2,069,670) | | **Change in cash and cash equivalents** | 2,998,617 | (3,985,538) | | **Cash and cash equivalents, end of period** | 6,478,885 | 3,158,952 | - The **acquisition of G5 was the primary use of cash in investing activities, costing $20,250,011**[35](index=35&type=chunk) - **Financing activities were a major source of cash**, driven by proceeds from the issuance of preferred stock ($18.8M), warrants ($4.3M), and new loans ($6.7M)[35](index=35&type=chunk) [Other Information](index=2&type=section&id=Other%20Information) This section contains investor call details and the safe harbor statement regarding forward-looking projections and associated risks - Management **hosted an investor conference call and webcast on May 15, 2025**, to discuss the Q3 FY2025 financial results[12](index=12&type=chunk) - The press release **contains forward-looking statements** concerning future events, which are subject to risks and uncertainties detailed in SEC filings[20](index=20&type=chunk)[21](index=21&type=chunk) - LightPath Technologies **is a vertically integrated provider of optics and imaging systems**, with manufacturing in Florida, Texas, New Hampshire, Latvia, and China[14](index=14&type=chunk)[15](index=15&type=chunk)

ORLANDO, Fla., May 15, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced financial results for its fiscal third quarter ended March 31, 2025.Financial Summary: Three Months Ended March 31, $ in millions 2025 2024 % Change Revenue $9.2 $7.7 19.1 % Gross Profit $2.7 $1.6 65.9 % Operating Expenses $ ...

Core Viewpoint - LightPath Technologies, Inc. is set to release its financial results for the fiscal third quarter ended March 31, 2025, after market close on May 15, 2025 [1] Financial Results Announcement - The company will host an investor conference call on May 15, 2025, at 5:00 p.m. Eastern time to discuss the financial results, provide a corporate update, and conduct a Q&A session [2] - Participants can join the call using the provided U.S. and international dial-in numbers, with a conference ID for access [2] Playback and Webcast Information - A playback of the conference call will be available until May 29, 2025, with specific numbers for U.S. and international listeners [3] - A webcast replay will also be accessible through the provided link [3] Company Overview - LightPath Technologies is a leading provider of next-generation optics and imaging systems for defense and commercial applications [4] - The company offers a range of custom solutions, including proprietary BlackDiamond™ chalcogenide-based glass materials and complete infrared optical systems [4] - LightPath has manufacturing facilities in Orlando, Florida, as well as locations in Texas, New Hampshire, Latvia, and China [4]