LIGHTPATH TECHNOLOGIES INC (LPTH) AI Stock Summary
Fast-growing defense optics, near 52-week high
Updated
Snapshot
LightPath makes specialty optics for defense and industrial customers, and its business is scaling fast: fiscal 2026 revenue nearly doubled to $71.7M with gross margin up to 36% and adjusted EBITDA turning positive. The GAAP net loss widened to $20.5M, but that was driven mainly by a non-cash accounting charge tied to an acquisition earnout, not weak operations. The company holds $93.2M in cash with minimal debt after a recent stock offering, though share count rose over 30% year over year.
What's Happening Right Now
- Thu 17th Sep '26 · Defense contract: LightPath won a funded prototype agreement under the Department of War's CLEAR program to develop its BlackDiamond glass as a domestic germanium alternative for defense imaging systems.
- Fri 11th Sep '26 · Backlog: The company's order backlog hit a record $110.9M, up roughly 197% year over year, including about $58M tied to a major technology customer's infrared camera orders.
- Thu 10th Sep '26 · Earnings: LightPath's fiscal 2026 revenue nearly doubled to $71.7M with gross margin expanding to 36% and adjusted EBITDA turning positive, though the GAAP net loss widened to $20.5M on a $14.1M non-cash acquisition earnout charge.
- Thu 23rd Jul '26 · Divestiture: LightPath signed a definitive agreement to sell its Chinese subsidiary, completing a shift to a fully Western-aligned manufacturing footprint ahead of looming germanium sourcing restrictions.
- Wed 22nd Jul '26 · Order win: LightPath secured $13 million in follow-on optical assembly orders from a defense systems supplier supporting counter-UAS systems, with deliveries through 2027.
Ownership
Institutions hold 71.6%, insiders hold 0.8%.