LPTH

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LightPath Technologies, Inc.

Physical products Sells to businessesTags from an AI model reading the company description.

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Key Metrics

Previous Close: $10.85
52-Week Range: $5.83 – $18.94
Market Cap: $773.20M
P/E (TTM): —
EPS (TTM): -0.38
Dividend Yield: 0.00%

Advanced Metrics

Price/Book: 7.58
PEG Ratio: 1.54
Return on Equity: -19.73%
Return on Assets: -1.90%
Gross Margin: 35.98%
Operating Margin: -5.04%
Profit Margin: -28.65%
Current Ratio: 4.96
Debt/Equity: 0.07
Total Debt: $10.93M
Free Cash Flow: $-5.04M
Revenue Growth: 73.30%
Earnings Growth: —
Enterprise Value: $699.83M

LPTH Income statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Revenue	$35.56M	$32.93M	$31.73M	$37.20M	$71.72M
Cost of Revenue	$23.74M	$21.86M	$23.09M	$27.07M	$45.92M
Gross Profit	$11.81M	$11.07M	$8.63M	$10.13M	$25.80M
Research & Development	$2.09M	$2.15M	$2.40M	$3.06M	$3.78M
Selling, General & Admin	$11.22M	$11.44M	$12.30M	$15.81M	$24.66M
Operating Expenses	$14.43M	$14.71M	$16.33M	$20.29M	$30.28M
Operating Income	-$2.62M	-$3.63M	-$7.70M	-$10.16M	-$4.47M
EBITDA	—	-$355.00K	-$3.70M	-$6.01M	$565.00K
Pretax Income	-$2.68M	-$3.81M	-$7.94M	-$14.84M	-$20.23M
Income Tax	$862.91K	$234.03K	$67.49K	$37.79K	$314.71K
Net Income	-$3.54M	-$4.05M	-$8.01M	-$14.87M	-$20.55M
Diluted EPS	-0.13	-0.13	-0.21	-0.36	—
Diluted Shares	27.02M	31.64M	37.94M	40.87M	—

LPTH Balance Sheet statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Cash & Equivalents	$5.51M	$4.69M	$3.48M	$4.88M	$93.20M
Receivables	$5.21M	$6.63M	$4.93M	$9.46M	$15.11M
Inventory	$6.99M	$7.41M	$6.55M	$12.86M	$18.01M
Current Assets	$18.17M	$21.76M	$15.54M	$28.37M	$129.90M
Total Assets	$50.71M	$53.54M	$48.09M	$81.51M	$194.01M
Current Liabilities	$7.73M	$6.83M	$8.04M	$17.10M	$26.18M
Long-Term Debt	$3.22M	$1.55M	$325.88K	$4.80M	$74.88K
Total Debt	$14.73M	$12.38M	$10.36M	$15.19M	$10.93M
Total Liabilities	$20.98M	$17.58M	$17.89M	$65.86M	$44.53M
Retained Earnings	-$203.79M	-$207.84M	-$215.84M	-$230.72M	-$251.26M
Shareholders' Equity	$29.73M	$35.95M	$30.20M	$15.64M	$149.47M
Working Capital	$10.44M	$14.93M	$7.50M	$11.27M	$103.72M
Net Debt	—	—	—	$100.52K	—

LPTH Cash Flow statement, annual periods, in USD
USD	FY2022	FY2023	FY2024	FY2025	FY2026
Operating Cash Flow	$1.46M	-$2.81M	$521.04K	-$8.33M	-$10.23M
Capital Expenditure	-$1.63M	-$3.08M	-$2.18M	-$1.26M	-$6.27M
Free Cash Flow	-$162.49K	-$5.89M	-$1.66M	-$9.59M	-$16.49M
Depreciation & Amortisation	$3.62M	$3.17M	$4.05M	$4.15M	$5.04M
Stock-Based Compensation	$825.25K	$1.31M	$1.02M	$1.04M	$2.86M
Investing Cash Flow	-$1.63M	-$2.87M	-$2.67M	-$19.74M	-$12.79M
Financing Cash Flow	-$636.17K	$7.46M	-$1.47M	$29.30M	$111.02M
Net Change in Cash	-$798.66K	$1.78M	-$3.61M	$1.23M	$88.01M

LPTH Income statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Revenue	$9.17M	$12.21M	$15.06M	$16.35M	$19.15M	$21.16M
Cost of Revenue	$6.50M	$9.52M	$10.58M	$10.33M	$12.19M	$12.82M
Gross Profit	$2.66M	$2.69M	$4.48M	$6.02M	$6.96M	$8.35M
Research & Development	$757.94K	$1.06M	$867.43K	$748.83K	$1.04M	$1.13M
Selling, General & Admin	$4.45M	$4.74M	$4.38M	$5.86M	$6.30M	$8.12M
Operating Expenses	$5.99M	$5.75M	$5.70M	$7.06M	$7.82M	$9.70M
Operating Income	-$3.32M	-$3.06M	-$1.22M	-$1.04M	-$859.04K	-$1.36M
EBITDA	-$1.53M	-$6.07M	-$1.32M	-$7.85M	$403.96K	$12.77M
Pretax Income	-$3.48M	-$7.18M	-$2.81M	-$9.37M	-$4.01M	-$4.03M
Income Tax	$100.03K	-$122.40K	$81.27K	$30.56K	$91.39K	$111.50K
Net Income	-$3.58M	-$7.06M	-$2.89M	-$9.41M	-$4.11M	-$4.14M
Diluted EPS	-0.09	-0.16	-0.07	-0.20	-0.07	-0.06
Diluted Shares	41.36M	42.87M	43.29M	47.00M	58.63M	64.82M

LPTH Balance Sheet statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Cash & Equivalents	$6.48M	$4.88M	$11.51M	$73.57M	$55.24M	$93.20M
Receivables	$7.65M	$9.46M	$9.59M	$8.58M	$10.80M	$15.11M
Inventory	$12.69M	$12.86M	$12.86M	$13.49M	$13.34M	$18.01M
Current Assets	$28.08M	$28.37M	$35.16M	$97.00M	$83.00M	$129.90M
Total Assets	$81.42M	$81.51M	$87.26M	$148.56M	$144.27M	$194.01M
Current Liabilities	$12.23M	$17.10M	$17.75M	$24.42M	$21.53M	$26.18M
Long-Term Debt	$4.69M	$4.80M	$4.87M	$135.07K	$103.66K	$74.88K
Total Debt	$14.33M	$15.19M	$15.36M	$10.27M	$11.32M	$10.93M
Total Liabilities	$65.70M	$65.86M	$65.82M	$70.62M	$55.18M	$44.53M
Retained Earnings	-$223.66M	-$230.72M	-$233.61M	-$243.02M	-$247.12M	-$251.26M
Shareholders' Equity	$15.72M	$15.64M	$21.44M	$77.94M	$89.09M	$149.47M
Working Capital	$15.85M	$11.27M	$17.40M	$72.58M	$61.47M	$103.72M
Net Debt	—	$100.52K	—	—	—	—

LPTH Cash Flow statement, quarterly periods, in USD
USD	Q1 2025	Q2 2025	Q3 2025	Q4 2025	Q1 2026	Q2 2026
Operating Cash Flow	-$3.24M	-$2.65M	-$1.14M	$2.82M	-$6.80M	-$5.11M
Capital Expenditure	-$420.57K	-$681.58K	-$77.01K	-$867.89K	-$899.49K	-$4.42M
Free Cash Flow	-$3.66M	-$3.33M	-$1.22M	$1.96M	-$7.70M	-$9.53M
Depreciation & Amortisation	$1.46M	$792.49K	$1.22M	$1.24M	$1.26M	$1.32M
Stock-Based Compensation	$239.13K	$298.31K	$359.66K	$338.95K	$562.97K	$1.60M
Investing Cash Flow	-$20.67M	$1.08M	-$77.01K	-$867.89K	-$7.90M	-$3.95M
Financing Cash Flow	$27.18M	-$276.01K	$7.78M	$59.93M	-$3.69M	$47.00M
Net Change in Cash	$3.27M	-$1.84M	$6.56M	$61.89M	-$18.38M	$37.94M

Market Snapshot

About

LightPath Technologies, Inc. is a vertically integrated optical components and materials manufacturer serving the industrial, defense, telecommunications, and medical sectors. The company designs and produces precision molded glass aspheric lenses, infrared lenses, and optical assemblies used in thermal imaging, laser systems, sensors, and other photonics applications. LightPath's proprietary Black Diamond glass material enables high-performance infrared optical components. The company operates manufacturing facilities in the United States, Latvia, and China, serving OEM customers globally with both standard catalog products and custom optical solutions.