Fiscal 2026 Second Quarter Financial Results[LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging...]### LightPath Technologies Receives $9.6 Million Purchase Order for Cooled Infrared Cameras from Existing Defense Customer[LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems...][More Releases From This Source]## Explore[ ...

Financial Data and Key Metrics Changes - Revenue for Q2 fiscal 2026 increased 120% to $16.4 million compared to $7.4 million in the same year-ago quarter [25] - Gross profit increased 212% to $6 million, representing 37% of total revenues, up from 26% in the prior year [25] - Net loss for Q2 fiscal 2026 totaled $9.4 million, compared to $2.6 million in the same year-ago quarter [28] Business Line Data and Key Metrics Changes - Sales of infrared components were $5 million (31% of revenue), visible components were $3.4 million (21%), assemblies and modules were $7.2 million (44%), and engineering services were $0.7 million (4%) [25] - The increase in gross margin was primarily driven by higher revenue from assemblies and modules, which generally have higher margins [26] Market Data and Key Metrics Changes - Significant revenue growth attributed to NATO spending in defense in Europe and Israel, with some G5 shipments to Europe [37][38] - The backlog totaled $97.8 million, indicating strong future revenue potential [30] Company Strategy and Development Direction - The company has transitioned to a vertically integrated provider of high-value infrared optics and camera systems, focusing on proprietary materials and complete imaging solutions [3][4] - The acquisition of Amorphous Materials is expected to enhance production capabilities and capacity, allowing for larger diameter optics [6][8] - The company aims to capture significant market share within a three to four-year window, leveraging its unique technology and supply chain advantages [16][49] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's position as a supplier of choice for mission-critical defense and aerospace applications, particularly in light of the NDAA requirements [4][19] - The company is focused on executing its growth plan, which includes investments in existing and new business opportunities [31][32] - Management noted that while there are significant opportunities, the development of satellite programs will take time, with government contracts expected to materialize in the next two years [12][13] Other Important Information - The company completed a secondary capital raise of $60 million, which will be used for strategic investments and growth initiatives [15] - The company is not burning cash in operations and is focused on revenue-generating activities [30] Q&A Session Summary Question: Was the increase in sales to Europe due to NATO spending? - Yes, the increase is attributed to NATO spending in defense in Europe and Israel, with some G5 shipments included [37][38] Question: Are there plans to build lenses for optical intersatellite links? - Yes, the company already has a good business in free space optical communication between satellites and is looking to increase capacity [41] Question: Can you elaborate on the three-year window for capturing market share? - The company has a unique position due to current differentiators and aims to capture significant market share before competitors catch up with germanium supply [49][50] Question: What are the main constraints in terms of resources? - The main constraints are in capacity and product development, particularly in glass production and assembly [51][52] Question: What is the timeline for converting cameras to Black Diamond? - The goal is to complete the conversion of all relevant cameras by autumn of this year [55]

Core Viewpoint - LightPath Technologies reported a significant increase in revenue and gross profit for the second quarter of fiscal 2026, driven by strong orders and strategic acquisitions, positioning the company as a key player in the defense optics market [1][2]. Financial Summary - Revenue for the second quarter of fiscal 2026 reached $16.4 million, a 120% increase from $7.4 million in the same quarter of the previous year [1][2]. - Gross profit increased by 212% to $6.0 million, representing 37% of total revenues, compared to 26% in the prior year [2]. - Operating expenses rose to $14.6 million, a 231% increase, primarily due to the fair value adjustment related to the G5 acquisition [1][2]. - The net loss for the quarter was $9.4 million, compared to a loss of $2.6 million in the same quarter last year [1][2]. Strategic Developments - The company completed a $60 million public offering of common stock in December 2025 to support working capital and strategic investments [1]. - Mark Caylor, a former executive from Northrop Grumman, was appointed to the Board of Directors, enhancing the company's defense industry expertise [1]. - The acquisition of Amorphous Materials, Inc. in January 2026 added complementary technologies for large diameter optics [1][2]. Order and Market Position - LightPath secured a $4.8 million purchase order for advanced IR camera systems and a $9.6 million order for cooled infrared cameras from existing defense customers [1]. - The company reported a backlog of $97.8 million, indicating strong demand for its optical and imaging systems [1][2]. - The U.S. government's focus on reducing reliance on foreign optical components is expected to benefit LightPath, as its products are compliant with the latest NDAA requirements [1][2]. Product Performance - Revenue from infrared components was $5.0 million, a 61% increase, while visible components generated $3.4 million, up 25% [2]. - Assemblies and modules accounted for $7.2 million in revenue, reflecting a 741% increase compared to the previous year [2]. Management Commentary - The CEO highlighted the company's accelerating revenue growth and the strategic importance of the G5 acquisition, emphasizing the transition to a vertically integrated provider of subsystems and solutions for IR imaging [1][2].

Core Insights - LightPath Technologies, Inc. has secured a $9.6 million purchase order for cooled infrared cameras from an existing defense customer, with deliveries expected throughout 2026 [1][3] - The production of these cameras will be split between the company's facilities in Florida and New Hampshire, highlighting its expanded domestic manufacturing capabilities [2][3] - The repeat order reflects the growing demand for advanced cooled infrared camera systems and validates the strategic value of the company's G5 acquisition [3][4] Company Overview - LightPath Technologies is a leading provider of next-generation optics and imaging systems for defense and commercial applications, with a vertically integrated approach and in-house engineering design support [5] - The company offers a range of custom solutions, including proprietary BlackDiamond™ chalcogenide-based glass materials and complete infrared optical systems [5] - LightPath's primary manufacturing footprint is located in Orlando, Florida, with additional facilities in Texas, New Hampshire, Latvia, and China [5] Market Position - G5's revenue is driven by established multi-year contracts and programs in shipboard long-range surveillance, border security, and counter-UAS systems, as well as recurring federal, naval, and law enforcement programs [4] - The company aims to expand relationships with defense customers seeking superior products with secure domestic supply chains [4]

Core Viewpoint - The company, Hongjing Optoelectronics (301479.SZ), is focusing on the application of optical lenses and camera modules in various fields such as artificial intelligence hardware, robotics, industrial inspection, and healthcare, aiming to seize opportunities and cultivate new growth points [1] Group 1: Product Focus - The company's products include optical lenses and camera modules [1] - The company is actively monitoring the applications of its products in AI hardware, robotics, industrial inspection, and healthcare [1] Group 2: Healthcare Applications - In the healthcare sector, the company can provide customized solutions for lenses and modules to its clients [1] - Currently, the revenue from related healthcare business constitutes a low proportion of the company's total revenue, having a minimal impact on overall operational performance [1]

Core Viewpoint - LightPath Technologies, Inc. will release its financial results for the fiscal second quarter ended December 31, 2025, on February 11, 2026, after market close [1] Financial Results Announcement - The financial results will be discussed in an investor conference call scheduled for February 11, 2026, at 5:00 p.m. Eastern time [2] - Participants can join the call using the provided U.S. and international dial-in numbers, with a conference ID for access [2] 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 located in Orlando, Florida, as well as in Texas, New Hampshire, Latvia, and China [4]

Core Viewpoint - The U.S. Department of War is set to eliminate reliance on optical systems from certain foreign nations by 2030, positioning LightPath Technologies as a preferred supplier for defense applications [1][2]. Group 1: Legislative Context - The Fiscal Year 2026 National Defense Authorization Act (NDAA) mandates the Department of Defense to develop a strategy to eliminate reliance on optical glass and systems from "covered nations" including China, Russia, Iran, North Korea, and Belarus by January 1, 2030 [2]. - The NDAA emphasizes the importance of supply chain transparency and material provenance for compliance in defense and aerospace programs [2]. Group 2: Company Capabilities - LightPath's optical assemblies, infrared cameras, and thermal imaging systems are already compliant with NDAA requirements, utilizing proprietary BlackDiamond infrared glass technology as a domestic alternative to foreign sources [3]. - The company is expanding its domestic glass manufacturing capabilities through the acquisition of Amorphous Materials, Inc. (AMI), enhancing production capacity and establishing a second NDAA-compliant manufacturing site [4]. Group 3: Strategic Positioning - LightPath's focus on supply chain security and domestic manufacturing aligns with the NDAA's requirements, allowing the company to serve as a risk reduction partner for defense programs [5]. - The company encourages early engagement with defense and aerospace programs to ensure compliance and accelerate deployment of proven solutions [7]. Group 4: Market Dynamics - The NDAA's 2030 deadline necessitates immediate action from defense acquisition managers to evaluate compliant materials and suppliers, avoiding redesigns and delays [6].

Core Insights - LightPath Technologies, Inc. has acquired the assets of Amorphous Materials, Inc. for $7.0 million in cash, with potential additional consideration of up to $3 million based on technical milestones [1][6] Acquisition Summary and Strategic Rationale - AMI, founded in 1977, specializes in IR glass for optical materials used in night vision systems and has the capacity to produce up to 10,000 lbs. of glass annually [3] - The acquisition enhances LightPath's capabilities in large diameter optics, allowing production of BlackDiamond™ glass up to 17 inches in diameter, compared to the current 5 inches [4] - AMI's facility in Texas will serve as a redundant manufacturing site, ensuring compliance with NDAA regulations and supporting increased glass melting capabilities [4][8] Market Expansion Potential - The acquisition is expected to facilitate market expansion for AMI's advanced IR optical glass, leveraging LightPath's marketing and product offerings [5] - Combining LightPath's camera portfolio with AMI's large-diameter glass capabilities will create one of the largest IR materials and optics offerings in the industry [5] Financial Impact - The acquisition is projected to add approximately $3.0 million in annual revenue following the integration of AMI's operations [8] - A significant portion of AMI's revenue is derived from a tier-1 defense customer, ensuring long-term program continuity [8] Management Commentary - The acquisition is viewed as a strategic move to transition from a component provider to a vertically integrated provider of IR imaging subsystems and solutions [7][10] - Management emphasizes the importance of AMI's technology in enhancing production capabilities for high-value long-range imaging applications [9]

Company Overview - LightPath Technologies, Inc. is a leading provider of next-generation optics and imaging systems for both defense and commercial applications [3] - The company operates as a vertically integrated solutions provider with in-house engineering design support, offering a range of custom solutions including proprietary BlackDiamond™ chalcogenide-based glass materials [3] - LightPath's primary manufacturing footprint is located in Orlando, Florida, with additional facilities in Texas, New Hampshire, Latvia, and China [3] Conference Participation - LightPath management will participate in the 28th Annual Needham Growth Conference, scheduled for January 15, 2026, in a virtual format [1][2] - The company aims to engage with the institutional investor community and discuss its technology portfolio, market opportunities, and strategic priorities following a successful recent financing [2] - Registration is mandatory for conference participation, and interested parties can contact MZ Group for scheduling meetings with management [2]

Core Viewpoint - LightPath Technologies, Inc. has announced a public offering of 7,750,000 shares of its Class A common stock at a price of $7.75 per share, aiming for gross proceeds of approximately $60 million before expenses [1][2]. Group 1: Offering Details - The offering includes a 30-day option for underwriters to purchase an additional 1,162,500 shares at the public offering price [1]. - The offering is expected to close on or about December 15, 2025, pending customary closing conditions [1]. Group 2: Use of Proceeds - The net proceeds from the offering will be utilized for working capital, investments, acquisitions, and general corporate purposes [2]. Group 3: Underwriters - Canaccord Genuity and Craig-Hallum are serving as joint bookrunners for the offering, with Lake Street acting as co-manager [2]. Group 4: Company Overview - LightPath Technologies is a leading provider of next-generation optics and imaging systems for defense and commercial applications, with a vertically integrated approach and in-house engineering design support [5]. - The company’s manufacturing facilities are located in Orlando, Florida, with additional sites in Texas, New Hampshire, Latvia, and China [5].