Core Viewpoint - LightPath Technologies, Inc. is poised for growth in the defense sector, driven by geopolitical factors and the recent acquisition of G5 Infrared, with a focus on their innovative Germanium-free BlackDiamond™ glass technology [3][4]. Company Overview - LightPath Technologies, Inc. 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 [4]. - The company offers a range of custom solutions, including proprietary BlackDiamond™ chalcogenide-based glass materials, and has manufacturing facilities in Orlando, Florida, Texas, New Hampshire, Latvia, and China [4]. Upcoming Event - The company will present at the Canaccord Genuity 45th Annual Growth Conference on August 13, 2025, at 3:00 p.m. Eastern time, at the InterContinental Boston Hotel [3]. - Sam Rubin, President and CEO, will lead the presentation and one-on-one meetings, emphasizing the company's strong momentum and strategic alignment for long-term growth [2][3].

Core Viewpoint - LightPath Technologies has initiated production of two high-end cooled infrared camera products utilizing proprietary BlackDiamond™ Glass instead of Germanium, marking a strategic shift towards a broader range of Germanium-free products due to supply chain challenges [1][2][3]. Group 1: Product Development - The company’s subsidiary G5 Infrared has redesigned select entry-level camera models to incorporate BlackDiamond™ Glass, eliminating the reliance on Germanium, which is affected by export restrictions from China [2]. - The new Germanium-free camera models are designed as drop-in replacements for existing Germanium models, requiring no redesign of the systems they will be integrated into [3]. Group 2: Strategic Positioning - The vertical integration of LightPath's proprietary BlackDiamond™ glass with G5's products is expected to drive strong growth and enhance value for a wider customer base while ensuring supply chain reliability [3]. - G5 has a significant pipeline of new business opportunities, with plans to offer additional Germanium-free options in the near future [3]. Group 3: Company Overview - LightPath Technologies is recognized as a leading provider of next-generation optics and imaging systems for defense and commercial applications, with a manufacturing footprint in multiple locations including Orlando, Florida, and facilities in Texas, New Hampshire, Latvia, and China [4].

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]

Core Viewpoint - LightPath Technologies reported a 19.1% increase in revenue for the third quarter of fiscal 2025, driven by the acquisition of G5 Infrared and significant orders in the defense sector, positioning the company for growth in the infrared imaging market valued at $9 billion [1][4][5]. Financial Performance - Revenue for the third quarter of fiscal 2025 was $9.2 million, up from $7.7 million in the same quarter of the previous year, reflecting a 19.1% increase [2][8]. - Gross profit increased by 65.9% to $2.7 million, representing 29.1% of total revenues, compared to 20.9% in the prior year [10]. - Operating expenses rose 42.9% to $6.0 million, primarily due to higher legal and consulting fees related to business development and the G5 acquisition [11]. - The net loss for the quarter was $3.6 million, or $0.09 per share, compared to a loss of $2.6 million, or $0.07 per share, in the same quarter of the previous year [12][23]. Strategic Developments - The acquisition of G5 Infrared is expected to enhance LightPath's capabilities in the infrared imaging market, with G5's product offerings complementing LightPath's existing portfolio [4][9]. - Significant orders received include a $4.8 million qualification order and a $4.9 million follow-on order from defense customers, along with a $2.2 million order from L3Harris Technologies [5][9]. - The company is focusing on transitioning to its Germanium-free BlackDiamond™ infrared imaging solutions, which are gaining traction due to supply chain issues affecting competitors [6]. Market Positioning - LightPath aims to become a leading vertically-integrated provider in the infrared imaging market, leveraging G5's established contracts and operational synergies [4][5]. - The company is actively participating in key defense programs, including a major missile program for the U.S. Army in collaboration with Lockheed Martin [7]. Product Group Performance - Revenue breakdown for the third quarter of fiscal 2025 shows: - Infrared Components: $3.6 million (0% change) - Visible Components: $2.8 million (6% increase) - Assemblies & Modules: $1.9 million (123% increase) - Engineering Services: $0.8 million (54% increase) [8]. Cash Flow and Financial Position - Cash and cash equivalents at the end of the period were $6.5 million, up from $3.5 million at the end of the previous fiscal year [21][27]. - The company reported a net cash used in operating activities of $5.4 million for the nine months ended March 31, 2025 [27].

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]

Core Viewpoint - LightPath Technologies, Inc. announced a $4.9 million follow-on order for infrared camera systems from its subsidiary G5 Infrared, expected to be delivered in the 2026 fiscal year [1][2]. Group 1: Company Overview - LightPath Technologies is a leading provider of next-generation optics and imaging systems for defense and commercial applications [4]. - The company operates as a vertically integrated solutions provider, offering proprietary BlackDiamond™ chalcogenide-based glass materials and complete infrared optical systems [4]. - LightPath has manufacturing facilities in Orlando, Florida, Texas, New Hampshire, Latvia, and China [4]. Group 2: Recent Developments - The order from the defense industry customer is part of G5 Infrared's significant order pipeline, which includes opportunities from both new and existing customers [2]. - G5's reputation for long-range imaging and infrared cooled camera solutions has led to order wins for various applications, including shipboard long-range surveillance and border security [3]. - The acquisition of G5 has provided meaningful scale and opportunities for integration with LightPath's proprietary products, positioning the combined company for continued growth [3].

Core Insights - LightPath Technologies has announced a $2.2 million order for infrared cameras from L3Harris Technologies to support the U.S. Navy's Shipboard Panoramic Electro-Optic/Infrared (SPEIR) Program [1] - The SPEIR Program aims to enhance the U.S. Navy's capabilities in anti-ship cruise missile defense and other operational areas [2] - The acquisition of G5 Infrared is expected to significantly enhance LightPath's growth in the $9 billion infrared imaging market [3] Company Overview - LightPath Technologies is a provider of next-generation optics and imaging systems for defense and commercial applications, with a focus on vertically integrated solutions [4] - The company has manufacturing facilities in Orlando, Florida, and additional locations in Texas, New Hampshire, Latvia, and China [4]