Core Insights - LightPath Technologies reported a significant increase in revenue for the first fiscal quarter of 2026, with a 79% rise to $15.1 million compared to $8.4 million in the same quarter of the previous year [2][8] - The company is experiencing strong order momentum, with a backlog exceeding $90 million, indicating a robust demand for its products [4][5] - Despite the revenue growth, the company reported a net loss of $2.9 million, which is a 78% increase in losses compared to the previous year [11] Financial Performance - Revenue for the first quarter of fiscal 2026 was $15.1 million, up from $8.4 million in the same quarter of fiscal 2025, representing a 79% increase [2][8] - Gross profit increased by 58% to $4.5 million, accounting for 30% of total revenues, compared to 34% in the prior year [9] - Operating expenses rose by 66% to $7.0 million, primarily due to the integration of G5 and increased sales and marketing efforts [10] - Adjusted EBITDA for the quarter was $0.4 million, a significant improvement from an adjusted EBITDA loss of $0.2 million in the same period last year [11] Product and Market Developments - The company is shifting focus from Germanium optics to its proprietary BlackDiamond™ glass, targeting critical defense markets and integrated IR camera systems [4] - Recent orders include a $4.8 million purchase order for advanced infrared camera systems and an $18.2 million order from a leading global technology customer [5][12] - The company appointed Mark Caylor, a veteran in the defense industry, to its Board of Directors to enhance its strategic direction [6] Strategic Outlook - LightPath aims to continue executing its growth strategy by scaling deliveries against its backlog and converting its sales pipeline into orders [7] - The company anticipates further program awards and follow-on orders that will support sustainable revenue growth through fiscal 2026 and beyond [7]