LightPath Reinforces National Defense Authorization Act Readiness with Domestic Infrared Optics and Systems

Rhea-AI Summary

LightPath (NASDAQ: LPTH) said it is positioned to support U.S. defense programs after the Fiscal Year 2026 National Defense Authorization Act requires eliminating reliance on optical glass and systems from certain foreign nations by January 1, 2030.

The company highlighted its BlackDiamond infrared glass, existing NDAA-compliant products, and a strategic acquisition of Amorphous Materials, Inc., adding large-diameter melting capacity and a second domestic NDAA-compliant manufacturing site.

Positive

• Acquisition: Added Amorphous Materials, Inc. to expand domestic chalcogenide glass capabilities
• Capacity: Introduced large-diameter glass melting capability and increased production capacity
• Product: BlackDiamond infrared glass offers NDAA-compliant domestic alternative for mission systems

Negative

• Compliance timeline: NDAA 2030 deadline requires immediate supplier engagement to avoid redesigns and recertification delays
• Operational scaling: Expansion implies near-term ramp requirements without disclosed production or cost figures

News Market Reaction

+0.27%

10 alerts

+0.27% News Effect

+3.3% Peak in 9 min

+$2M Valuation Impact

$649M Market Cap

0.1x Rel. Volume

On the day this news was published, LPTH gained 0.27%, reflecting a mild positive market reaction. Argus tracked a peak move of +3.3% during that session. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement added approximately $2M to the company's valuation, bringing the market cap to $649M at that time.

Data tracked by StockTitan Argus on the day of publication.

Key Figures

NDAA optical deadline: January 1, 2030 AMI cash consideration: $7.0 million AMI milestone equity: up to $3.0 million +5 more

8 metrics

NDAA optical deadline January 1, 2030 Deadline to eliminate reliance on covered nations’ optical glass and systems

AMI cash consideration $7.0 million Cash paid at closing for Amorphous Materials, Inc. assets

AMI milestone equity up to $3.0 million Contingent stock payments tied to technical milestones

BlackDiamond diameter 17" Maximum BlackDiamond glass diameter post-AMI acquisition (vs 5" prior)

Q1 2026 revenue $15.1M Fiscal Q1 2026 revenue, +79% year over year

Q1 2026 net loss $2.9M Fiscal Q1 2026 net loss, $0.07 per share

Shelf registration size $200,000,000 Maximum aggregate offering amount under Form S-3 shelf

Daily price change 9.97% LPTH price change over the last 24 hours before this news

Market Reality Check

Price: $11.49 Vol: Volume 4,154,510 vs 3,676...

normal vol

$11.49 Last Close

Volume Volume 4,154,510 vs 3,676,902 20-day average (relative volume 1.13x). normal

Technical Price $11.25 is trading above 200-day MA at $5.78, reflecting a pre-existing uptrend.

Peers on Argus

LPTH’s +9.97% move contrasts with mixed peers: some up (MEI +7%, KULR +8.36%, RE...

LPTH’s +9.97% move contrasts with mixed peers: some up (MEI +7%, KULR +8.36%, RELL +10.07%), others flat to down (MPTI -1.28%, LINK +0.82%), suggesting a stock-specific catalyst linked to NDAA-related positioning.

Historical Context

5 past events · Latest: Jan 20 (Positive)

Pattern 5 events

Date	Event	Sentiment	Move	Catalyst
Jan 20	Strategic acquisition	Positive	+11.4%	Acquisition of AMI adds chalcogenide capacity and expected accretive revenue.
Jan 12	Conference participation	Neutral	-2.8%	Investor conference participation to discuss technology, markets, and financing.
Dec 12	Equity offering priced	Negative	-11.2%	Pricing of $60M common stock offering under effective shelf registration.
Dec 11	Equity offering proposed	Negative	+3.4%	Announcement of proposed common stock offering under S-3 shelf.
Nov 11	Earnings update	Positive	+3.3%	Fiscal Q1 2026 results with strong revenue growth and positive EBITDA.

Pattern Detected

Positive strategic and earnings news have generally seen supportive price reactions, while dilutive offerings have pressured shares, with one notable divergence on a proposed offering.

Recent Company History

Over the past few months, LightPath announced strong fiscal Q1 2026 results with $15.1M revenue and positive adjusted EBITDA, alongside a large equity financing of about $60M via a public offering. The company then completed a $7.0M cash acquisition of Amorphous Materials, Inc., plus up to $3.0M in milestone equity, expanding BlackDiamond and chalcogenide glass capabilities. Today’s NDAA-focused release reinforces that earlier strategic acquisition and prior disclosures that emphasized domestic, NDAA-compliant infrared materials and systems for defense customers.

Regulatory & Risk Context

Active S-3 Shelf · $200,000,000

Shelf Active

Active S-3 Shelf Registration 2025-11-21

$200,000,000 registered capacity

An effective Form S-3 shelf filed on Nov 21, 2025 allows LightPath to issue up to $200,000,000 in securities over time, supporting funding for working capital, investments, debt reduction, and acquisitions via future equity or related offerings.

Market Pulse Summary

This announcement highlighted LightPath’s readiness for NDAA-driven shifts away from foreign optical...

Analysis

This announcement highlighted LightPath’s readiness for NDAA-driven shifts away from foreign optical glass by January 1, 2030, emphasizing domestic BlackDiamond and chalcogenide glass capabilities, reinforced by the recent AMI acquisition. Recent filings show the company using a $200,000,000 shelf and equity offerings to fund growth while reporting strong revenue expansion but ongoing net losses. Investors may watch how defense program wins, integration of AMI capacity, and any additional capital raises interact with NDAA-related demand over time.

Key Terms

national defense authorization act, optical glass, infrared cameras, thermal imaging systems, +3 more

7 terms

national defense authorization act regulatory

"following the passage of the Fiscal Year 2026 National Defense Authorization Act (NDAA)"

A national defense authorization act is an annual law that sets the government’s spending limits, policies and rules for military programs and related national security activities. Think of it as the yearly budget and rulebook for defense: it determines who gets contracts, what weapons and technologies are funded, and which activities are allowed or restricted. Investors care because it shapes revenue prospects, regulatory risks and market demand for defense suppliers, technology firms and companies tied to military spending.

optical glass technical

"eliminate reliance on optical glass and optical systems sourced from certain foreign nations"

Optical glass is a specially formulated type of glass used to make lenses, prisms and other components that control and shape light for cameras, microscopes, telescopes, sensors and fiber optics. For investors it matters because the quality, availability and cost of this material influence the performance, pricing and profit margins of any business that depends on precision imaging or light-based instruments — like the recipe and raw ingredient behind how clearly a device “sees.”

infrared cameras technical

"LightPath's optical assemblies, infrared cameras, and thermal imaging systems have already been"

A camera that detects heat rather than visible light and turns temperature differences into an image, like night-vision glasses that show warm and cold spots. For investors, infrared cameras are important because they enable products and services in areas such as safety, building inspection, quality control, medical imaging and autonomous systems; demand, cost, regulatory use and supply of these sensors can affect a company’s revenue, margins and competitive position.

thermal imaging systems technical

"optical assemblies, infrared cameras, and thermal imaging systems have already been designed"

Devices that detect invisible heat and turn it into a visual image so you can see temperature differences, like a camera that sees warmth instead of color. Investors care because these systems are used across many industries — from building and equipment inspections to security, automotive safety, and healthcare — creating multiple sales channels, recurring service or software revenue, and exposure to efficiency and safety regulations that can drive steady demand.

chalcogenide glass technical

"a U.S. based manufacturer of complementary chalcogenide glass technologies"

A chalcogenide glass is a glass-like solid made from elements such as sulfur, selenium or tellurium combined with other metals, resulting in a material that transmits infrared light and can change its electrical state. Investors care because these materials enable products like infrared optics, sensors and advanced memory chips; improvements or patents in chalcogenide glass can drive product performance, open new markets and affect a maker’s competitive edge and revenue potential.

electro-optical technical

"supporting high-performance electro-optical and infrared applications across land, sea, air"

Electro-optical describes devices and technologies that convert between electrical signals and light or that use light controlled by electricity—think of them as translators between electricity and beams of light. Investors care because these technologies power items like high-speed communications, imaging systems, sensors and targeting equipment; improvements can open new markets, raise product value and affect revenue and competitive position much like a faster engine can change a car maker’s sales.

ndaa compliant regulatory

"Our cameras, optical assemblies, and thermal imaging solutions have been NDAA compliant for years"

NDAA compliant means a product, supplier or service meets rules in the U.S. National Defense Authorization Act that bar certain equipment, components or vendors from government use. For investors, compliance signals eligibility for federal contracts and fewer regulatory or contract-blocking risks—like making sure a car’s parts aren’t from a banned maker so it can be sold to a large buyer—so noncompliance can limit revenue opportunities and add legal or reputational exposure.

AI-generated analysis. Not financial advice.

Department of War to Eliminate Reliance on Optical Systems from Certain Foreign Nations, Positioning LightPath as a Supplier of Choice for Mission-Critical Defense Applications

ORLANDO, Fla., Jan. 28, 2026 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," "we," or "our"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today reinforced its long-standing commitment to secure, domestic defense supply chains following the passage of the Fiscal Year 2026 National Defense Authorization Act (NDAA), which directs the US Department of War to eliminate reliance on optical glass and optical systems sourced from certain foreign nations by January 1, 2030.

Section 834 of H.R. 3838 states that "The Secretary of Defense shall develop and implement a strategy to eliminate the reliance of the Department of Defense on any covered nation to acquire optical glass or optical systems by January 1, 2030."

Under the NDAA, "covered nations" include China, Russia, Iran, North Korea, and Belarus. These restrictions extend beyond finished systems to include critical materials such as optical glass, making supply chain transparency and material provenance increasingly central to defense and aerospace program compliance.

LightPath's optical assemblies, infrared cameras, and thermal imaging systems have already been designed, manufactured, and delivered in alignment with NDAA requirements. The company's proprietary BlackDiamond infrared glass technology offers a proven alternative to foreign sources. LightPath's solutions reduce material risk while supporting high-performance electro-optical and infrared applications across land, sea, air, and space platforms.

LightPath continues to expand its domestic glass manufacturing capabilities to support growing defense and aerospace demand. The company has announced a strategic acquisition of Amorphous Materials, Inc. (AMI), a U.S. based manufacturer of complementary chalcogenide glass technologies. The acquisition adds large-diameter glass melting capability, increases overall production capacity, and introduces a second NDAA compliant manufacturing location. This expansion further strengthens LightPath's ability to support high-value, large-format optics required for advanced defense and space-based sensor programs.

"While the NDAA now formally calls out optical glass, our approach has always been to design and manufacture systems that defense customers can rely on without question," said Sam Rubin, President and Chief Executive Officer of LightPath Technologies. "Supply chain security, domestic manufacturing, and long-term program readiness are not new priorities for us. Our cameras, optical assemblies, and thermal imaging solutions have been NDAA compliant for years, and BlackDiamond was developed specifically to address material risk, availability, and performance at scale."

Unlike some foreign made optics, BlackDiamond infrared glass enables domestic manufacturing, stable supply, and scalable production without dependence on constrained or geopolitically sensitive sources. Combined with expanded domestic chalcogenide glass manufacturing capabilities from Amorphous Materials, Inc., LightPath is positioned as a risk reduction partner for defense programs that must meet compliance requirements early in their design and qualification cycles.

Although the NDAA establishes a 2030 deadline, defense acquisition timelines and system development cycles effectively require action in the immediate term to meet this requirement. Program managers and prime contractors are already evaluating compliant materials and suppliers to avoid redesigns, recertification delays, and future supply disruptions.

LightPath invites early engagement from defense and aerospace programs seeking NDAA-aligned optical materials, assemblies, and complete thermal imaging systems. By partnering early in the design process, customers can ensure compliance, reduce long-term risk, and accelerate time to deployment with solutions that are already proven in active defense programs.

About LightPath Technologies
LightPath Technologies, Inc. (NASDAQ: LPTH) is a leading provider of next-generation optics and imaging systems for both defense and commercial applications. As a vertically integrated solutions provider with in-house engineering design support, LightPath's family of custom solutions range from proprietary BlackDiamond™ chalcogenide-based glass materials - sold under exclusive license from the U.S. Naval Research Laboratory - to complete infrared optical systems and thermal imaging assemblies. The Company's primary manufacturing footprint is located in Orlando, Florida with additional facilities in Texas, New Hampshire, Latvia and China. To learn more, please visit www.lightpath.com.

Forward-Looking Statements
This press release includes statements that constitute forward-looking statements made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by the use of words such as "forecast," "guidance," "plan," "estimate," "will," "would," "project," "maintain," "intend," "expect," "anticipate," "prospect," "strategy," "future," "likely," "may," "should," "believe," "continue," "opportunity," "potential," and other similar expressions that predict or indicate future events or trends or that are not statements of historical matters. These forward-looking statements include, without limitation, statements regarding expectations, beliefs, hopes, intentions or strategies regarding, among other things, the anticipated benefits and potential synergies of the acquisition, the Company's ability to generate and accelerate additional revenue, possible market expansion, as well as the reception in the industry, the Company's ability to pursue additional opportunities, such as the U.S. Golden Dome, as well as other statements that are other than historical fact. These forward-looking statements are based on information available at the time the statements are made and/or management's good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual results to differ materially from those expressed in or suggested by the forward-looking statements. Factors that could cause or contribute to such differences include, but are not limited to, the likelihood that the impact of varying demand for the Company products; the inability of the Company to sustain profitable sales growth, convert inventory to cash, or reduce its costs to maintain competitive prices for its products; circumstances or developments that may make the Company unable to implement or realize the anticipated benefits, or that may increase the costs, of its current and planned business initiatives; the Company's reliance on a few key customers; the ability of the Company to obtain needed raw materials and components from its suppliers; the impact that international tariffs may have on our business and results of operations; the impact of political and other risks as a result of our sales to internal customers and/or our sourcing of materials from international suppliers; general economic uncertainty in key global markets and a worsening of global economic conditions or low levels of economic growth; geopolitical tensions, the Russian-Ukraine conflict, and the Hamas/ Israel war; the effects of steps that the Company could take to reduce operating costs; and those factors detailed by the Company in its public filings with the Securities and Exchange Commission (the "SEC"), including its Annual Report on Form 10-K and other filings with the SEC. Should one or more of these risks, uncertainties, or facts materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those indicated or anticipated by the forward-looking statements contained herein. Accordingly, you are cautioned not to place undue reliance on these forward-looking statements, which speak only as of the date they are made. Forward-looking statements should not be read as a guarantee of future performance or results and will not necessarily be accurate indications of the times at, or by, which such performance or results will be achieved. Except as required under the federal securities laws and the rules and regulations of the SEC, we do not have any intention or obligation to update publicly any forward-looking statements, whether as a result of new information, future events, or otherwise.

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SOURCE LightPath Technologies

FAQ

What did LightPath (LPTH) announce about NDAA readiness on January 28, 2026?

LightPath said it is ready to support NDAA compliance with domestic optics and systems ahead of the January 1, 2030 deadline. According to the company, its BlackDiamond glass and NDAA-compliant products, plus the Amorphous Materials acquisition, strengthen domestic supply.

How does LightPath's BlackDiamond glass help LPTH meet the NDAA requirements?

BlackDiamond provides a domestic infrared glass alternative that reduces reliance on foreign sources. According to the company, BlackDiamond enables scalable U.S. manufacturing and stable supply for defense electro-optical applications.

What does the acquisition of Amorphous Materials mean for LightPath (LPTH) capacity?

The acquisition adds large-diameter glass melting capability and a second NDAA-compliant U.S. manufacturing location. According to the company, this increases overall production capacity for large-format defense optics.

Why do defense contractors need to engage LightPath (LPTH) now despite a 2030 NDAA deadline?

Immediate engagement is needed to avoid redesigns, recertification delays, and supply disruptions during long defense development cycles. According to the company, program timelines require early materials qualification to meet the 2030 mandate.

Will LightPath's NDAA-aligned solutions cover land, sea, air, and space systems for LPTH customers?

LightPath said its optical assemblies and thermal imaging systems support electro-optical needs across land, sea, air, and space platforms. According to the company, its products are already used in active defense programs and meet NDAA requirements.