Starbucks union plans Red Cup Day strike in 25+ cities - Bloomberg
ORLANDO - LightPath Technologies, Inc. (NASDAQ:LPTH), whose stock has surged over 400% in the past year according to InvestingPro data, announced Wednesday it has secured $22.1 million in follow-on purchase orders for advanced infrared camera systems to be delivered in 2027.
This latest order comes just two weeks after the company received an $18.2 million order announced on September 3, bringing the total to $40.3 million in orders from the same global technology customer - a significant figure compared to the company’s trailing twelve-month revenue of $33.63 million. The systems ordered earlier are scheduled for delivery in 2026.
"This second order for advanced IR camera systems underscores both the strength of our technology and the incredible progress we’ve made in our company’s transformation," said Sam Rubin, LightPath’s Chief Executive Officer, in a press release statement.
The company described the orders as part of its ongoing transition from a components manufacturer to a vertically integrated camera solutions provider. LightPath specializes in next-generation optics and imaging systems for both defense and commercial applications, with manufacturing facilities in Florida, Texas, New Hampshire, Latvia, and China.
LightPath’s technology portfolio includes proprietary BlackDiamond chalcogenide-based glass materials, which the company noted are becoming increasingly important to western defense contractors seeking alternatives to germanium in secure supply chains.
The purchase orders are subject to the customer’s standard terms and conditions and the terms of an agreement between LightPath and the customer, according to the company’s announcement. With the company’s next earnings report due on September 25, InvestingPro subscribers can access 14 additional investment tips and a comprehensive analysis of LightPath’s financial health, which currently rates as FAIR based on multiple factors including its healthy current ratio of 2.3x.
In other recent news, LightPath Technologies has secured a significant $18.2 million purchase order for advanced infrared camera systems from a global technology customer, with delivery scheduled for 2026. This order could potentially lead to additional purchase orders worth up to $22 million for 2027, although these future orders are not yet confirmed. Additionally, LightPath announced an $8 million investment through a private placement agreement with Ondas Holdings Inc. and Unusual Machines, Inc., involving the sale of 1.6 million shares at $5.00 per share.
Analyst firm H.C. Wainwright has raised its price target for LightPath Technologies from $6.00 to $7.00, maintaining a Buy rating, following the announcement of the $18.2 million order. The firm had previously increased the price target from $5.00 to $6.00, citing LightPath’s strategic positioning in the government sector. These developments highlight LightPath’s growing backlog in the defense and government sectors, potentially enhancing its market positioning. Investors will be watching closely to see if the anticipated additional orders materialize.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.