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Investing.com -- LightPath Technologies, Inc. (NASDAQ:LPTH), a provider of next-generation optics and imaging systems, reported fiscal first quarter revenue that significantly exceeded analyst expectations, driving shares up 10.7% in after-hours trading on Tuesday.
The company posted revenue of $15.1 million for the quarter ended September 30, 2025, surpassing the analyst consensus estimate of $12.75 million and representing a 79% increase YoY from $8.4 million. However, LightPath reported a quarterly loss of -$0.07 per share, missing analyst expectations of -$0.04 per share.
The revenue growth was primarily driven by the company’s Assemblies & Modules segment, which saw a 436% increase to $5.9 million compared to $1.1 million in the same period last year. Infrared Components revenue rose 63% to $4.3 million, while Visible Components increased 16% to $3.8 million.
"The first fiscal quarter of 2026 was highlighted by ongoing order momentum, validating our growth strategy as shown in our $90+ million order backlog as of today," said Sam Rubin, Chief Executive Officer of LightPath. "We continue to intentionally shift away from Germanium optics, expanding the adoption of our proprietary BlackDiamond™ glass across critical defense markets, while continuing to move up the value chain into fully integrated IR camera systems."
The company’s gross profit increased 58% to $4.5 million, though operating expenses rose 66% to $7.0 million. LightPath reported an adjusted EBITDA of $0.4 million, a 315% improvement from -$0.2 million in the prior-year period.
Recent highlights include securing a $4.8 million purchase order for advanced infrared camera systems, an $18.2 million order for IR cameras expected to be delivered in calendar year 2026, and a follow-on $22.1 million order for delivery in 2027. The company also received an $8.0 million strategic investment from Ondas Holdings and Unusual Machines to support its growth in the drone/UAV sector.
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