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 (NASDAQ:LPTH) completed the sale of its China subsidiary to an entity owned by incumbent management, effective October 30, 2026. The sale included LightPath (Zhenjiang) Optical Instrumentation's manufacturing facility and operations, leaving LightPath with no China-based facilities or operations.
The former subsidiary will continue supplying products for LightPath's commercial customers in the U.S. and Europe as a third-party vendor. LightPath expects continuity of supply without a material impact on supply, quality or service. Revenue from the China operation's third-party customers, averaging approximately $4.5 million annually across fiscal years 2025 and 2026, will no longer enter consolidated results after closing.
LightPath Technologies (NASDAQ:LPTH) will release its first-quarter fiscal 2027 financial results after market close on November 10, 2026. The quarter ended September 30, 2026. Management will host a conference call at 5:00 p.m. Eastern time that day to discuss results, provide a corporate update and take questions from telephone participants. A call playback will be available through November 24, 2026, along with a webcast replay.
LightPath Technologies (NASDAQ:LPTH) received an order from a defense customer for over 50,000 optical assemblies for use in drone camera systems. The customer identity and order value remain undisclosed under customer confidentiality requirements.
Assemblies and modules accounted for 44% of revenue in fiscal 2026, up from 23% in fiscal 2025. Management said LightPath has been adding automation and capacity to its assembly operations to support high-volume programs. The company views the drone market as a long-term growth opportunity.
LightPath Technologies (LPTH) received an additional $6.3 million follow-on purchase order for optical assemblies from a counter-drone and defense systems supplier.
The order follows $13 million in follow-on purchase orders from the same customer announced on July 22, 2026. Total awards from this customer now exceed $19 million since July 1, double its total orders for the full fiscal year ended June 30, 2026. LightPath will continue supplying optical assembly work for the customer's counter-UAS systems, which counter unmanned aircraft. The orders form part of a multi-year program.
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.