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Investing.com -- LightPath Technologies Inc (NASDAQ:LPTH) stock surged 13.2% after the company announced it secured an $18.2 million purchase order for advanced infrared camera systems from a leading global technology customer.
The purchase order, scheduled for delivery in calendar year 2026, significantly boosts the optical technology company’s defense and government backlog. LightPath also revealed it has an agreement in place that could lead to additional purchase orders totaling up to $22 million for products to be delivered in 2027, potentially bringing the total value to $40 million over the two-year period.
"We are thrilled to announce this new purchase order and agreement with a leading global technology customer, which is expected to meaningfully grow our defense and government backlog with advanced IR camera systems," said LightPath Chief Executive Officer Sam Rubin.
The company attributes its momentum to geopolitical tailwinds in the defense industry and growing demand for secure supply chains with alternatives to Germanium, a critical material facing export restrictions from China. LightPath’s proprietary BlackDiamond™ glass technology positions the company to capitalize on this shift.
This order represents a significant milestone in LightPath’s strategic transition from a components manufacturer to a vertically integrated camera solutions provider, as the company continues to expand its footprint in both defense and commercial applications.
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