LightPath Technologies Reports Fiscal 2025 Fourth Quarter and Full Year Financial Results

Core Insights - LightPath Technologies reported significant growth in demand for Germanium-free optics, particularly from defense and public safety customers, leading to a meaningful backlog increase [4][5][7] Financial Performance - Revenue for Q4 FY2025 increased by 41.4% to $12.2 million compared to $8.6 million in Q4 FY2024 [2][8] - Full-year revenue for FY2025 rose by 17.4% to $37.6 million from $31.7 million in FY2024 [2][14] - Gross profit for Q4 FY2025 was $2.7 million, a 6.6% increase from $2.5 million in Q4 FY2024, representing 22.0% of total revenues [2][9] - Operating expenses surged by 52.0% to $7.2 million in Q4 FY2025, primarily due to the integration of G5 and increased marketing efforts [2][10] - The net loss for Q4 FY2025 was $7.1 million, compared to a loss of $2.4 million in the same quarter of the previous year [2][12] - Adjusted EBITDA loss for Q4 FY2025 was $2.0 million, worsening from a loss of $1.1 million in Q4 FY2024 [2][13] Product and Market Developments - The company secured an initial $18.2 million order for infrared cameras from a leading global technology customer, followed by a $22.1 million follow-on order [5][11] - LightPath launched its first industrial-grade MWIR OGI camera and is actively redesigning its product line to replace Germanium with proprietary BlackDiamond™ material [6][7] - The company is focused on scaling deliveries and converting a robust pipeline into sustainable revenue growth through FY2026 and beyond [7] Strategic Focus - Management emphasized a strategic shift away from Germanium optics towards proprietary BlackDiamond™ solutions, driven by supply chain risks and geopolitical uncertainties [4][6] - The company aims to solidify its position as a vertically-integrated imaging solutions provider, enhancing margins and reducing supply chain risks [7]