LightPath Technologies, Inc. (NASDAQ:LPTH) Q4 2020 Results Earnings Conference Call September 10, 2020 4:30 PM ET Company Participants Sam Rubin - President and Chief Executive Officer Donald Retreage - Chief Financial Officer Conference Call Participants Marc Wiesenberger - B. Riley FBR Gene Inger - ingerletter.com Operator Good afternoon, and welcome to the LightPath Technologies Fiscal Fourth Quarter and Year-End 2020 Financial Results Conference Call. All participants will be in a listen-only mode. [Ope ...

☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) For the fiscal year ended June 30, 2020 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number 000-27548 LIGHTPATH TECHNOLOGIES, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation o ...

OLOGIES INVESTOR PRESENTATION SEPTEMBER 2020 GLOBAL LEADER IN OPTICAL TECHNOLOGY 2 Safe Harbor Statement This presentation contains "forward-looking" statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, product development plans, competitive position, potential growth opportunities, the effects of competition and the expected e ...

LightPath Technologies, Inc. (NASDAQ:LPTH) Q3 2020 Earnings Conference Call May 7, 2020 4:30 PM ET Company Participants Donald Retreage - Chief Financial Officer Sam Rubin - President and Chief Executive Officer Conference Call Participants Marc Wiesenberger - B. Riley Operator Good afternoon, and welcome to the LightPath Technologies Third Quarter 2020 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please also note today’s event is being recorded. ...

[Cautionary Note Concerning Forward-Looking Statements](index=4&type=section&id=Cautionary%20Note%20Concerning%20Forward-Looking%20Statements) This report contains forward-looking statements subject to numerous risks and uncertainties beyond the company's control - This report contains forward-looking statements based on current expectations and assumptions. These statements are subject to numerous risks and uncertainties, many of which are beyond the company's control[11](index=11&type=chunk) - Key risks highlighted include the duration and scope of the COVID-19 pandemic, its impact on product demand and supply chains, government and individual responses to the pandemic, and general economic uncertainty[11](index=11&type=chunk) [Part I Financial Information](index=5&type=section&id=Part%20I%20Financial%20Information) [Financial Statements](index=5&type=section&id=Item%201%20Financial%20Statements) The unaudited condensed consolidated financial statements for the period ended March 31, 2020, reflect improved financial performance and asset growth [Unaudited Condensed Consolidated Balance Sheets](index=5&type=section&id=Unaudited%20Condensed%20Consolidated%20Balance%20Sheets) The balance sheet as of March 31, 2020, shows increased total assets and stockholders' equity, with decreased liabilities Condensed Consolidated Balance Sheet Highlights (unaudited) | Balance Sheet Item | March 31, 2020 ($ million) | June 30, 2019 ($ million) | | :--- | :--- | :--- | | **Total Current Assets** | $19.80 | $19.61 | | **Total Assets** | $46.06 | $45.97 | | **Total Current Liabilities** | $6.14 | $6.36 | | **Total Liabilities** | $12.14 | $12.51 | | **Total Stockholders' Equity** | $33.91 | $33.46 | [Unaudited Condensed Consolidated Statements of Comprehensive Income (Loss)](index=6&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Comprehensive%20Income%20(Loss)) For Q3 2020, revenue increased **10%** to **$8.7 million**, with net income of **$0.82 million**, reversing a prior-year loss Financial Performance Summary (unaudited) | Metric | Q3 2020 ($) | Q3 2019 ($) | Nine Months 2020 ($) | Nine Months 2019 ($) | | :--- | :--- | :--- | :--- | :--- | | **Revenue, net** | $8,708,981 | $7,905,582 | $25,860,823 | $25,003,810 | | **Gross Margin** | $4,012,176 | $3,105,669 | $10,332,274 | $9,689,985 | | **Operating Income (Loss)** | $1,062,812 | $20,818 | $1,507,366 | $(63,252) | | **Net Income (Loss)** | $816,017 | $(352,018) | $209,977 | $(918,633) | | **EPS (diluted)** | $0.03 | $(0.01) | $0.01 | $(0.04) | [Unaudited Condensed Consolidated Statement of Changes in Stockholders' Equity](index=7&type=section&id=Unaudited%20Condensed%20Consolidated%20Statement%20of%20Changes%20in%20Stockholders'%20Equity) Total stockholders' equity increased from **$33.5 million** to **$33.9 million**, primarily due to net income and stock-based compensation - Stockholders' equity rose to **$33.91 million** at March 31, 2020, from **$33.46 million** at June 30, 2019[19](index=19&type=chunk) - The change was primarily due to net income of **$0.21 million** for the nine months ended March 31, 2020, and stock-based compensation of **$0.29 million**[19](index=19&type=chunk) [Unaudited Condensed Consolidated Statements of Cash Flows](index=8&type=section&id=Unaudited%20Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) For the nine months ended March 31, 2020, net cash from operations was **$1.9 million**, a significant improvement, while investing and financing activities used cash Cash Flow Summary (Nine Months Ended March 31) | Cash Flow Activity | 2020 ($) | 2019 ($) | | :--- | :--- | :--- | | **Net cash provided by operating activities** | $1,869,783 | $25,947 | | **Net cash used in investing activities** | $(1,318,035) | $(1,356,732) | | **Net cash used in financing activities** | $(727,039) | $(1,154,048) | | **Change in cash and cash equivalents** | $(222,988) | $(1,867,163) | | **Cash and cash equivalents, end of period** | $4,381,713 | $4,641,457 | [Notes to Unaudited Condensed Consolidated Financial Statements](index=9&type=section&id=Notes%20to%20Unaudited%20Condensed%20Consolidated%20Financial%20Statements) The notes detail accounting policies, including ASC Topic 842 adoption, revenue breakdown by product group, debt structure, and foreign cash holdings - The company adopted lease accounting standard ASC Topic 842 on July 1, 2019, recognizing operating lease right-of-use assets of **$1.7 million** and corresponding operating lease liabilities of **$2.3 million**[28](index=28&type=chunk) Revenue by Product Group (Nine Months Ended March 31) | Product Group | 2020 ($ million) | 2019 ($ million) | | :--- | :--- | :--- | | PMO | $10.75 | $10.59 | | Infrared Products | $13.26 | $12.52 | | Specialty Products | $1.85 | $1.89 | | **Total revenue** | **$25.86** | **$25.00** | - In December 2019, the company declared and paid a **$2 million** intercompany dividend from its Chinese subsidiary LPOIZ, resulting in **$0.2 million** of accrued Chinese withholding taxes[45](index=45&type=chunk) - As of March 31, 2020, the company was in compliance with all covenants for its BankUnited loans, including a term loan, revolving line of credit, and guidance line[71](index=71&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=21&type=section&id=Item%202%20Management's%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses the company's financial performance, highlighting a **10%** revenue increase in Q3 2020 to **$8.7 million**, improved gross margin, and a net income of **$0.82 million** [Overview](index=21&type=section&id=Overview) LightPath is a global manufacturer of optical components and assemblies across three product groups, with recent organizational changes to enhance product portfolio management - The company's business is organized into three product groups: **Precision Molded Optics (PMO)**, **infrared products**, and **specialty products**[90](index=90&type=chunk) - Recent organizational changes were designed to better leverage expanded capabilities and manage a broader product portfolio, including a new product management function[89](index=89&type=chunk) [Results of Operations](index=23&type=section&id=Results%20of%20Operations) For Q3 2020, revenue grew **10%** to **$8.7 million**, with gross margin increasing to **46%**, resulting in a net income of **$0.82 million**, a significant turnaround Q3 2020 vs Q3 2019 Performance | Metric | Q3 2020 ($) | Q3 2019 ($) | Change ($) | | :--- | :--- | :--- | :--- | | **Revenue** | $8.7M | $7.9M | +10% | | **Gross Margin** | $4.0M (46%) | $3.1M (39%) | +29% | | **Net Income (Loss)** | $816K | $(352K) | +$1.17M | - The increase in Q3 PMO revenue was driven by sales to medical and telecommunications markets, while infrared revenue growth was fueled by molded products for applications like fever detection[95](index=95&type=chunk) - For the nine months ended March 31, 2020, net income was **$0.21 million**, compared to a net loss of **$0.92 million** in the prior-year period, primarily due to a **$1.6 million** improvement in operating income[111](index=111&type=chunk) [Liquidity and Capital Resources](index=26&type=section&id=Liquidity%20and%20Capital%20Resources) As of March 31, 2020, the company had working capital of **$13.7 million** and cash of **$4.4 million**, with **$1.9 million** in cash flow from operations - At March 31, 2020, working capital was **$13.7 million** and cash and cash equivalents were **$4.4 million**[113](index=113&type=chunk) - Cash flow from operations was approximately **$1.9 million** for the first nine months of fiscal 2020, compared to only **$26K** for the same period in fiscal 2019[119](index=119&type=chunk) - Capital expenditures for the nine-month period were **$1.5 million**, mainly for expanding BD6 material production and infrared coating capacity[120](index=120&type=chunk) [Sales Backlog](index=28&type=section&id=Sales%20Backlog) The 12-month sales backlog as of March 31, 2020, increased **17%** year-over-year to **$20.0 million**, driven by new orders and contract renewals 12-Month Sales Backlog Trend | Quarter | Backlog ($ K) | Change From Prior Quarter End | | :--- | :--- | :--- | | Q3 2019 | $17,137 | -6% | | Q4 2019 | $17,121 | 0% | | Q1 2020 | $15,390 | -10% | | Q2 2020 | $19,095 | +24% | | Q3 2020 | $20,012 | +5% | - The 12-month backlog at March 31, 2020 was approximately **$20.0 million**, a **17%** increase compared to March 31, 2019[133](index=133&type=chunk) [Non-GAAP Financial Measures](index=31&type=section&id=Non-GAAP%20Financial%20Measures) The company uses EBITDA as a non-GAAP measure, with Q3 2020 EBITDA at **$1.9 million**, more than double the prior year, reflecting improved operating performance EBITDA Reconciliation (unaudited) | Metric | Q3 2020 ($) | Q3 2019 ($) | Nine Months 2020 ($) | Nine Months 2019 ($) | | :--- | :--- | :--- | :--- | :--- | | **Net income (loss)** | $816,017 | $(352,018) | $209,977 | $(918,633) | | **Depreciation & Amortization** | $827,095 | $857,287 | $2,587,315 | $2,540,963 | | **Income tax provision (benefit)** | $203,369 | $161,870 | $673,556 | $(40,493) | | **Interest expense** | $85,464 | $275,233 | $273,262 | $573,535 | | **EBITDA** | **$1,931,945** | **$942,372** | **$3,744,110** | **$2,155,372** | [Controls and Procedures](index=31&type=section&id=Item%204%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of March 31, 2020, with no material changes to internal controls - The CEO and CFO concluded that disclosure controls and procedures were effective as of March 31, 2020[148](index=148&type=chunk) - No material changes were made to internal control over financial reporting in the quarter, with the company monitoring COVID-19's impact on controls[149](index=149&type=chunk) [Part II Other Information](index=32&type=section&id=Part%20II%20Other%20Information) [Legal Proceedings](index=32&type=section&id=Item%201%20Legal%20Proceedings) The company reported no legal proceedings during the period - No legal proceedings were reported[150](index=150&type=chunk) [Risk Factors](index=32&type=section&id=Item%201A.%20Risk%20Factors) No material changes to risk factors were reported, except for a new risk factor concerning the potential adverse effects of pandemics like COVID-19 - A new risk factor was added to address the potential adverse impact of pandemics like **COVID-19**[151](index=151&type=chunk) - The company is considered an "essential business" but acknowledges the pandemic could still materially affect operations, supply chain, and customer demand, with uncertain financial impact[152](index=152&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=32&type=section&id=Item%202%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During the quarter, **5,000** shares of Class A common stock were issued to a consultant at **$1.23** per share, exempt from registration - Issued **5,000** shares of Class A common stock to a consultant for services, at a price of **$1.23** per share[153](index=153&type=chunk) [Defaults Upon Senior Securities](index=32&type=section&id=Item%203%20Defaults%20Upon%20Senior%20Securities) The company reported no defaults upon senior securities - No defaults upon senior securities were reported[154](index=154&type=chunk) [Exhibits](index=33&type=section&id=Item%206%20Exhibits) This section lists all exhibits filed with the quarterly report, including corporate governance documents and certifications - The exhibits filed with the report include certifications from the CEO and CFO (31.1, 31.2, 32.1, 32.2) and XBRL data files[157](index=157&type=chunk) [Signatures](index=35&type=section&id=Signatures) - The report was duly signed and authorized by **Shmuel Rubin**, President and CEO, and **Donald O. Retreage, Jr.**, CFO, on **May 7, 2020**[159](index=159&type=chunk)[161](index=161&type=chunk)

LightPath Technologies, Inc. (NASDAQ:LPTH) Q2 2020 Results Earnings Conference Call February 6, 2020 4:30 PM ET Company Participants Donald Retreage - Chief Financial Officer Jim Gaynor - President and Chief Executive Officer Conference Call Participants Marc Weissenberg - B Riley FBR Michael Dyett - Private Investor Operator Good afternoon, and welcome to the LightPath Technologies Second Quarter 2020 Financial Results Conference Call. [Operator Instructions] Please also note today’s event is being recorde ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 [ ] TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ____________ Commission file number 000-27548 LIGHTPATH TECHNOLOGIES, INC. ------------------------------------------------------------------------ (Exact name of registrant as specified in its ...

LightPath Technologies, Inc. (NASDAQ:LPTH) Q1 2020 Earnings Conference Call November 7, 2019 4:30 PM ET Company Participants Donald Retreage – Chief Financial Officer Jim Gaynor – President and Chief Executive Officer Conference Call Participants David Luebke – Summit Financial Clark Lehman – Logos Partners Jordan Cox – AECS Richard Schaefer – Private Investor Alex Ferguson – Private Investor Brian Dodson – Private Investor Operator Good day, and welcome to the LightPath Technologies Inc., Fiscal 2020 First ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION For the transition period from ___________ to ____________ Commission file number 000-27548 LIGHTPATH TECHNOLOGIES, INC. ------------------------------------------------------------------------ (Exact name of registrant as specified in its charter) Washington, D.C. 20549 FORM 10-Q (Mark One) [X] QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2019 OR [ ] TRANSITION REPORT PURSUANT ...

SIDOTI & COMPANY FALL INVESTOR CONFERENCE SEPTEMBER 25, 2019 A LEADER IN OPTICAL TECHNOLOGY Safe Harbor Statement This presentation contains "forward-looking" statements that are based on our beliefs and assumptions and on information currently available to us. Forward-looking statements include information concerning our possible or assumed future results of operations, business strategies, product development plans, competitive position, potential growth opportunities, use of proceeds and the effects of c ...