LightPath Technologies, Inc. reports developments in next-generation optics and imaging systems for defense and commercial applications. Company news commonly covers fiscal results, order backlog, purchase orders for cooled infrared cameras, and demand for infrared cameras, assemblies, and BlackDiamond optical solutions.
Updates also address the company's vertically integrated manufacturing strategy, domestic production footprint, completed acquisitions such as G5 Infrared and Amorphous Materials, sales leadership changes, investor presentations, and manufacturing-recognition awards.
LightPath Technologies (LPTH) appointed Scott Payette as vice president and general manager of G5 Infrared, effective October 12, 2026. G5, acquired in February 2025 and based in Hudson, New Hampshire, manufactures cooled infrared camera systems for defense, border security and counter-UAS applications, which counter unmanned aircraft.
Payette brings more than 30 years of photonics, optical systems and infrared experience. Most recently, he was director of production at Anduril Industries, leading new product introduction and production-line build-out for infrared optical systems. LightPath said G5 is ramping cooled camera production against a series of its largest orders and is finalizing a redesign using proprietary BlackDiamond glass. The appointment follows Michael Amorelli's recent promotion to vice president of engineering, imaging systems.
LightPath Technologies (LPTH) has promoted Michael Amorelli to VP Engineering, Imaging Systems, effective September 1, 2026. He will oversee infrared camera and imaging systems product development, including R&D, engineering and program execution across LightPath’s New Hampshire, Orlando and Texas sites.
Amorelli previously managed the G5 Infrared operation in Hudson, New Hampshire, which LightPath acquired in February 2025. He led G5’s engineering through rapid expansion, ramping cooled infrared camera production for some of the largest orders in the company’s history and driving the redesign and implementation of BlackDiamond™ glass as a replacement for germanium across the product portfolio. In the new role, he aims to expand imaging systems and BlackDiamond-based camera solutions for drone, security and defense applications.
LightPath Technologies (LPTH) has been awarded a funded prototype agreement under the Department of War’s Critical Low-risk Electro-optic Alternatives for Resilience (CLEAR) program to advance its BlackDiamond™ chalcogenide glass as an alternative to germanium in defense electro‑optic/infrared (EO/IR) systems.
The CLEAR program, run by the DoW Advanced Materials Office, aims to develop domestic optical materials as germanium faces export controls from China and new U.S. sourcing restrictions effective December 2027. Under 10 U.S.C. § 4022(f), a competitively awarded prototype that is successfully completed may qualify for a follow‑on production contract without further competition. Management expects this award to support design‑in discussions and position next‑generation BlackDiamond‑enabled products for potential follow‑on production in defense applications.
LightPath Technologies (LPTH) reported fiscal 2026 Q4 revenue of $21.2 million, up 73% year over year, and full-year revenue of $71.7 million, up 93%.
Q4 gross profit rose to $8.3 million with gross margin of 39.4%, versus 22.0% a year earlier, while adjusted EBITDA reached $2.1 million (10% margin), marking a fourth consecutive positive quarter. Full-year gross profit increased to $25.8 million with 36.0% margin, and adjusted EBITDA improved to $4.2 million from a $5.1 million loss. Net loss widened for the year to $20.5 million, mainly due to $14.1 million in non-cash fair value adjustments to acquisition earnout liabilities.
The company ended fiscal 2026 with cash of $93.2 million after a $50 million primary equity offering and a record backlog of $110.9 million, including $85.6 million requested within twelve months. LightPath also agreed to sell its China subsidiary LPOIZ for $4.5 million over five years.
LightPath Technologies (LPTH) will release its fiscal fourth quarter 2026 financial results for the period ended June 30, 2026 after market close on September 10, 2026. Management will host an investor conference call that day at 5:00 p.m. Eastern time to review results, provide a corporate update, and hold a Q&A session.
LightPath Technologies (NASDAQ: LPTH) signed a definitive agreement to divest its wholly owned China subsidiary, LightPath (Zhenjiang) Optical Instrumentation, including its manufacturing facility and operations, to an entity owned by members of the incumbent local management team for $4.5 million, payable in installments over five years after closing.
According to LightPath, the deal is expected to close in the coming weeks, after which the company will have no facilities or operations in China. The buyer will continue to supply products as a third-party vendor for LightPath’s commercial customers in the U.S. and Europe. LightPath reported that the China operation generated an average of about $4.5 million in annual third-party revenue in preliminary fiscal years 2025 and 2026, which will be excluded from consolidated revenue after closing. The divestiture completes LightPath’s transition to a fully Western-aligned, NDAA-compliant manufacturing footprint.
LightPath Technologies (NASDAQ: LPTH) announced it has received $13 million in follow-on purchase orders for optical assemblies from a leading counter-unmanned aerial systems (C-UAS) and defense systems supplier. LightPath will provide optical assembly work with delivery completion expected in calendar year 2027.
According to LightPath, the orders support C-UAS systems, a rapidly growing segment of defense demand driven by unmanned aerial threats, and highlight the company’s in-house optical assembly capabilities, a core growth pillar for its mission-critical defense applications business.
LightPath Technologies (NASDAQ: LPTH) announced an $11 million follow-on purchase order for infrared cameras from a leading global technology customer for use in counter‑UAS (C‑UAS) applications. The order is placed under the customer's standard terms and conditions and an existing agreement.
The repeat order follows previously announced purchase orders with this customer and is described by LightPath as reflecting a strong relationship and growing demand for its IR camera systems in public safety and defense markets. Over the course of this program, LightPath expects to transition the customer from Germanium-based optics to its proprietary, domestically produced BlackDiamond™ materials, which the company says supports more secure supply chains and its move toward higher-value, vertically integrated camera solutions.
LightPath Technologies (NASDAQ: LPTH) has been added to the Russell 2000® and broad-market Russell 3000® indexes, effective June 29, 2026, following the 2026 reconstitution.
Index membership, based on April 30, 2026 market-cap rankings, may increase LightPath’s visibility with institutional investors and link it to benchmarks tracking about $12.2 trillion in assets.
LightPath Technologies (NASDAQ: LPTH) entered a securities purchase agreement for a $100 million registered direct primary and secondary offering totaling 7,142,800 Class A shares at $14.00 per share.
3,571,400 shares will be newly issued, providing $50 million in gross proceeds to LightPath for working capital, investments, acquisitions, and general corporate purposes, while 3,571,400 shares will be sold by a stockholder, with no proceeds to the company.