LightPath Technologies(US:LPTH)2025-11-12 11:25Revenue and Profitability - Revenue for the three months ended September 30, 2025, was $15,058,281, a 79.5% increase from $8,400,381 in the same period last year[17] - Gross profit for the quarter was $4,482,572, compared to $2,844,429 in the prior year, reflecting a gross margin improvement[17] - Revenue for the three months ended September 30, 2024, from operations acquired with G5 Infrared was reported at $14.49 million[47] - Revenue from infrared components reached $4,257,955, up 63% from $2,610,884 in the prior year[58] - Revenue from assemblies and modules surged to $5,859,498, compared to $1,093,668 in the same quarter of 2024, marking a 434% increase[58] - Revenue for Q1 fiscal 2026 was approximately $15.1 million, an increase of approximately $6.7 million, or 79%, compared to $8.4 million in the same quarter of the prior fiscal year[140] - Revenue from infrared components was approximately $4.3 million, an increase of $1.6 million, or 63%, compared to the same quarter of the prior fiscal year, including $0.7 million from G5 Infrared sales[141] - Revenue from assemblies and modules was approximately $5.9 million, an increase of approximately $4.8 million, or 436%, compared to the same quarter of the prior fiscal year, including $4.7 million from G5 Infrared sales[143] Losses and Expenses - Operating loss for the quarter was $(2,505,778), compared to $(1,376,808) in the same quarter of the previous year, indicating increased operating expenses[17] - The company reported a net loss of $(2,893,002) for the quarter, compared to $(1,622,745) in the same quarter last year[18] - For the three months ended September 30, 2025, the net loss was $2,893,002, compared to a net loss of $1,622,745 for the same period in 2024, indicating an increase in losses of approximately 78.3%[23] - The company incurred a segment net loss of $2,893,002 for the three months ended September 30, 2025, compared to a net loss of $1,622,745 for the same period in 2024, reflecting increased operational costs[111] - Net loss for Q1 fiscal 2026 was approximately $2.9 million, compared to $1.6 million in the same quarter of the prior fiscal year, reflecting an increase of approximately 81%[153] Cash and Liquidity - Cash and cash equivalents rose significantly to $11,507,418 from $4,877,036, indicating improved liquidity[13] - Cash and cash equivalents at the end of the period were $11,507,418, up from $4,280,637 at the end of the same period in 2024, representing a 168.5% increase[24] - Net cash used in operating activities was $1,142,842 for the three months ended September 30, 2025, compared to $1,700,201 for the same period in 2024, showing a decrease of approximately 32.7%[24] - Cash used in operations was approximately $1.1 million for Q1 fiscal 2026, a decrease from $1.7 million in the same period of the prior fiscal year[162] - Net cash provided by financing activities was approximately $7.8 million in Q1 fiscal 2026, compared to $2.5 million in the same period of the prior fiscal year[164] Assets and Liabilities - Total current assets increased to $35,155,096 as of September 30, 2025, up from $28,373,995 as of June 30, 2025[13] - Total liabilities decreased slightly to $31,589,922 from $31,628,488, showing stable financial leverage[15] - Total stockholders' equity increased to $21,437,818 from $15,644,768, indicating growth in shareholder value[15] - The total lease liabilities amounted to $10,352,075, compared to $10,208,193 as of June 30, 2025[90] - The company has a total loan payable of $5,011,441 as of the latest reporting period, with future maturities including $5,195,205 due in June 2027[104] Acquisitions and Investments - The company acquired G5 Infrared for approximately $27.1 million, consisting of $20.3 million in cash, 1,972,501 shares of Class A common stock valued at $2.47 per share, and potential earnout consideration[39] - The company also acquired Visimid Technologies for approximately $2.7 million, which included $1 million in cash and $1.55 million in restricted stock[52] - The acquisition of G5 Infrared is expected to strengthen the company's position in infrared imaging and expand its portfolio to include cooled infrared cameras[127] - The company utilized a new series of preferred stock and promissory notes to finance the acquisition of G5 Infrared, raising approximately $32.2 million[49] Stock and Shareholder Information - The number of shares used in the basic loss per share calculation was 43,287,933, compared to 39,561,480 in the prior year[18] - The basic loss per common share for the three months ended September 30, 2025, was $(0.07), compared to $(0.04) for the same period in 2024[83] - The company granted 27,717 Restricted Stock Units (RSUs) during the three months ended September 30, 2025[82] - As of September 30, 2025, there were approximately $1.0 million of total unrecognized compensation costs related to non-vested share-based compensation arrangements[82] Foreign Currency and Market Conditions - The company experienced a foreign currency translation adjustment of $92,383 during the three months ended September 30, 2025[24] - The Company recognized a cumulative foreign currency translation gain of approximately $1.1 million as of September 30, 2025[105] - The Company has taken proactive steps to minimize orders for Germanium products due to supply disruptions and price increases resulting from export restrictions imposed by China[115] - The Company is actively collaborating with customers to redesign systems to use alternative materials instead of Germanium, which may take up to two years for re-qualification in complex systems[117]