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].