LightPath Technologies, Inc.

LightPath Technologies Secures Order for Over 50,000 Optical Assemblies for Drones from Key Defense Customer

LightPath Technologies received an order for over 50,000 optical assemblies for drone camera systems from a key defense customer. Order value and customer identity are withheld under confidentiality requirements, but the win aligns with U.S. and allied drone procurement ramp, including the Department of War's $1.1 billion Drone Dominance Program targeting 200,000+ low-cost drones. Optical assemblies and modules grew to 44% of LightPath's fiscal 2026 revenue from 23% a year earlier, and management called the order a significant milestone for its drone business.

•12d ago

LightPath Technologies Receives Additional $6.3 Million Follow-On Optical Assembly Order from Leading C-UAS & Defense Systems Supplier

LightPath Technologies received an additional $6.3 million follow-on order from a leading C-UAS and defense systems supplier for optical assemblies used in counter-UAS systems. The order follows $13 million in follow-on orders from the same customer announced July 22, 2026, bringing total awards to more than $19 million since July 1 — double the customer's total orders for the full fiscal year ended June 30, 2026. CEO Sam Rubin framed the repeat business as validation of a multi-year program expected to keep growing, citing rapid demand for counter-drone solutions driven by the changing nature of modern warfare.

•26d ago

LightPath Technologies Appoints Photonics and Infrared Veteran Scott Payette as Vice President and General Manager of G5 Infrared

LightPath Technologies appointed Scott Payette as VP and General Manager of its G5 Infrared subsidiary, effective October 12, 2026. Payette brings 30+ years in photonics and infrared systems, most recently leading infrared optical production at Anduril Industries. CEO Sam Rubin said G5 is ramping cooled infrared camera production against the largest orders in company history, and Payette's production experience should help convert backlog into revenue. The hire coincides with a redesign of the G5 cooled camera family to use LightPath's proprietary BlackDiamond glass amid germanium supply constraints.

•1mo ago

LightPath Technologies Wins Department of War Prototype Agreement to Advance Germanium Alternatives for Infrared Imaging

LightPath Technologies won a funded, competitively awarded prototype agreement under the Department of War's CLEAR program to mature BlackDiamond chalcogenide glass as a germanium alternative for defense EO/IR surveillance and targeting systems. The award targets a hard supply-chain deadline: China dominates global germanium supply and has imposed export controls since 2023, and the 2026 NDAA added germanium to covered-materials restrictions with sourcing restrictions taking effect ahead of December 2027. Because the prototype was competitively awarded, successful completion may qualify LightPath for a follow-on production contract without further competition under 10 U.S.C. § 4022(f), and management expects the award to support design-in discussions across BlackDiamond-enabled product lines.

•1mo ago

LightPath Technologies Reports Fiscal 2026 Fourth Quarter and Full Year Financial Results

LightPath Technologies reported fiscal 2026 fourth quarter revenue of $21.2 million, up 73% year-over-year, and full-year revenue of $71.7 million, up 93%, driven by defense demand plus a full year of G5 Infrared and roughly five months of AML. Profitability inflected: Q4 gross margin reached 39.4% and adjusted EBITDA turned positive at $2.1 million (10% of revenue), the fourth consecutive positive quarter, though the full-year GAAP net loss widened to $20.5 million on $14.1 million of non-cash acquisition earnout fair-value adjustments. Backlog hit a record $110.9 million, up 197% from $37.4 million, with $85.6 million scheduled for delivery within twelve months, and the company closed the year with $93.2 million of cash after a $50.0 million equity offering at $14.00 per share. The company also signed a definitive agreement to divest its China subsidiary LPOIZ for $4.5 million, completing its shift to a fully Western-aligned manufacturing footprint as December 2025 defense legislation accelerates demand for alternatives to China-controlled Germanium optics.

•1mo ago

The Interception Gap: Directed Energy Solved Cost of Shooting Down Drones, Exposed a Harder Problem Underneath

AeroVironment was awarded a $117.3 million contract by the U.S. Army for its P550 electric vertical take-off and landing unmanned aerial system to support the Long Range Reconnaissance program. The company is cited regarding the economics of directed energy, estimating the marginal cost of a laser engagement at roughly 18 cents of electricity and its LOCUST X3 system at under $5 per shot. The information appears in an industry analysis primarily profiling competitor Wrap Technologies and its counter-drone solutions.

•2mo ago

LightPath Technologies Signs Definitive Agreement to Divest China Operations

LightPath Technologies signed a definitive agreement to sell its Chinese subsidiary, LightPath (Zhenjiang) Optical Instrumentation Co., Ltd., to the facility's management team for $4.5 million. The divestiture removes approximately $4.5 million in annual consolidated revenue but eliminates the company's manufacturing footprint in China, completing its transition to a fully Western-aligned and NDAA-compliant structure. The buyer will continue to supply LightPath as a third-party vendor, ensuring continuity for U.S. and European commercial customers while LightPath focuses on secure defense applications.

•3mo ago

LightPath Technologies Receives $13 Million in Follow-On Optical Assembly Orders from Leading C-UAS & Defense Systems Supplier

LightPath Technologies secured $13 million in follow-on purchase orders for optical assemblies from a leading defense systems supplier. The orders support counter-unmanned aerial systems (C-UAS), a fast-growing defense segment, with delivery completion slated for calendar year 2027. CEO Sam Rubin noted the order reflects the strength of the company's in-house assembly capabilities and its role in providing secure domestic supply chains for defense technology customers.

•3mo ago

LightPath Technologies Receives $11 Million Follow-on Order for Infrared Cameras from Leading Global Technology Customer

LightPath Technologies secured an $11 million follow-on order for infrared cameras from a leading global technology customer for counter-UAS applications. The contract supports a strategic transition from Germanium-based optics to LightPath's proprietary BlackDiamond materials, which is expected to secure supply chains and enhance gross margins. Management highlighted the order as evidence of a deepening relationship and growing demand for vertically integrated, secure solutions in the defense sector.

•3mo ago

LightPath Technologies Joins Russell 3000® Index

LightPath Technologies has been added to both the broad-market Russell 3000 Index and the small-cap Russell 2000 Index, effective immediately. The inclusion results from the annual Russell US indexes reconstitution, which ranks the 4,000 largest U.S. stocks by market capitalization. CEO Sam Rubin stated the milestone reflects significant business growth and should enhance visibility and liquidity within the institutional investment community.

•4mo ago

LightPath Technologies Reports Fiscal 2026 Third Quarter Financial Results

LightPath delivered Q3 revenue of $19.1 million, up 109% year-over-year, and achieved positive adjusted EBITDA of $1.1 million. The company ended the quarter with a record backlog of $110.6 million, an increase of 196% from the start of the fiscal year, driven by demand for infrared cameras and optical assemblies. Management reaffirmed a target to exceed $300 million in annual revenue within five years, supported by a strong balance sheet with $55.2 million in cash.

•6mo ago