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].