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ORLANDO, Fla. - LightPath Technologies, Inc. (NASDAQ: LPTH), a provider of optics and imaging systems trading at $1.65 per share, has announced through its subsidiary G5 Infrared that it secured a $2.2 million contract from L3Harris Technologies. According to InvestingPro data, the company, currently valued at $66 million, has seen its stock decline over 53% year-to-date, though analysts see significant upside potential with price targets ranging from $3 to $5. The deal, which involves the delivery of infrared cameras, supports the U.S. Navy's Shipboard Panoramic Electro-Optic/Infrared (SPEIR) Program. The program aims to enhance the Navy's missile defense and anti-terrorism capabilities, with the systems slated for delivery within the 2025 calendar year.
G5's advanced camera systems are expected to be integrated into all U.S. Navy surface ships, beginning with Arleigh-Burke-class destroyers. The integration is part of the Navy's strategy to employ state-of-the-art technology to improve electronic support measures passively. This contract comes at a crucial time, as InvestingPro analysis shows the company's financial health score is currently rated as weak, with annual revenue of $32.2 million.
Sam Rubin, President and CEO of LightPath, emphasized that the contract underscores the value of the recent G5 acquisition. He stated the award will boost the effectiveness and readiness of naval forces, aligning with the company's strategic vision to become a leader in the infrared imaging market, valued at approximately $9 billion.
This news follows LightPath's continued expansion, with manufacturing operations in various locations including Orlando, Florida, and international facilities. The company's product range includes proprietary materials and complete infrared optical systems.
The information provided is based on a press release statement from LightPath Technologies. For deeper insights into LPTH's valuation and growth prospects, including 8 additional ProTips and comprehensive financial analysis, visit InvestingPro to access the detailed Pro Research Report, available for over 1,400 US stocks.
In other recent news, LightPath Technologies reported its second-quarter financial results for fiscal year 2025, revealing a net loss of $2.6 million, or -$0.07 per share, which missed the forecast of -$0.04. The company's revenue reached $7.4 million, falling short of the projected $8.36 million. Despite these challenges, LightPath is expanding into the cooled infrared camera market through the acquisition of G5 Infrared, which is expected to contribute significantly to the company's growth. The acquisition is anticipated to add between $21 million and $27 million in revenue over the next year. LightPath has secured a $4.8 million order for infrared camera systems from a new defense customer, highlighting the strategic value of acquiring G5 Infrared. Additionally, the company is actively addressing supply chain disruptions due to Chinese export restrictions and aims to achieve $55 million in revenue over the next 12 months. Analyst firms have not yet provided updates on stock ratings following these developments.
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