Gold is 2025’s best performer. UBS sees more upside
ORLANDO - LightPath Technologies, Inc. (NASDAQ:LPTH), a $156.58 million market cap optical solutions company, has appointed Stephen L. Mielke, Ph.D., as Vice President of Engineering, effective immediately, the company announced Tuesday. The appointment comes as the company’s stock has delivered an impressive 158% return over the past year, according to InvestingPro data.
Dr. Mielke joins LightPath with over 20 years of experience in the photonics industry. He previously served as Optical System Architect for Advanced Development at Luminar Technologies, where he led the development of optical architecture for automotive LiDAR systems. Before that, he was Director of Engineering at Zygo Corporation, leading a team of 30 engineers developing optical metrology tools. Despite strong recent market performance, InvestingPro analysis indicates the company faces profitability challenges, with negative EBITDA of $4.78 million in the last twelve months.
The new executive brings experience across multiple domains including R&D, product development, marketing, and sales. He holds a B.A. in Physics from Lawrence University, and an M.A. and Ph.D. in Physics from SUNY Stony Brook.
"We are privileged to welcome Steve to the engineering leadership team and are eager to benefit from his decades of experience in engineering, electro-optical systems and technologies from industry leaders such as Luminar and Zygo," said Sam Rubin, President and CEO of LightPath.
The appointment comes as LightPath continues its strategic transition from a component supplier to a systems provider. The company specializes in next-generation optics and imaging systems for defense and commercial applications, with manufacturing facilities in Florida, Texas, New Hampshire, Latvia, and China. Want deeper insights? InvestingPro subscribers get access to 10+ additional key insights about LPTH, including detailed financial health scores and expert analysis in the comprehensive Pro Research Report.
Dr. Mielke stated that he looks forward to helping accelerate the delivery of cameras and optics across various applications, leveraging LightPath’s vertically integrated capabilities.
The information in this article is based on a press release statement from LightPath Technologies.
In other recent news, LightPath Technologies reported its third-quarter fiscal year 2025 earnings, highlighting a revenue increase to $9.2 million, which exceeded forecasts of $8.79 million. However, the company experienced a net loss of $0.09 per share, missing the anticipated loss of $0.04 per share. These financial results come amid LightPath’s strategic moves, including its subsidiary G5 Infrared commencing production of high-end cooled infrared cameras using LightPath’s proprietary BlackDiamond™ Glass. This shift is a response to export restrictions on Germanium imposed by China, prompting U.S. defense contractors to seek alternatives. LightPath acquired G5 Infrared in early 2025, leading to the redesign of select camera models. The company’s developments reflect ongoing adjustments to global supply chain challenges. These recent updates are crucial for investors to consider as they assess LightPath’s ongoing strategies and market positioning.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.