LightPath Technologies Awarded Initial $2.2 Million IR Camera Order for U.S. Navy Shipboard Optics (SPEIR) Program

Rhea-AI Summary

LightPath Technologies (NASDAQ: LPTH) has announced that its recently acquired subsidiary G5 Infrared has secured a $2.2 million engineering development model (EDM) order from L3Harris Technologies for infrared cameras. The contract supports the U.S. Navy's Shipboard Panoramic Electro-Optic/Infrared (SPEIR) Program, with delivery scheduled for 2025.

The SPEIR Program will enhance naval capabilities including anti-ship cruise missile defense, counter-fast attack craft operations, and counter-unmanned aerial vehicle detection. The systems will be integrated into all U.S. Navy surface ships, starting with Arleigh-Burke-class destroyers.

This marks the first announced award following LightPath's acquisition of G5, positioning the company to expand its presence in the $9 billion infrared imaging market as a vertically integrated solutions provider.

Positive

• Secured $2.2M contract for infrared cameras with L3Harris Technologies
• First major contract announcement following G5 Infrared acquisition
• Entry into $9B infrared imaging market through vertical integration
• Potential for future orders through U.S. Navy's fleet-wide SPEIR Program implementation

Negative

• None.

News Market Reaction

+12.12%

1 alert

+12.12% News Effect

On the day this news was published, LPTH gained 12.12%, reflecting a significant positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

Infrared Cameras Order by L3Harris to Support Navy's Shipboard Panoramic Electro-Optic/Infrared (SPEIR) Program

ORLANDO, Fla., April 9, 2025 /PRNewswire/ -- LightPath Technologies, Inc. (NASDAQ: LPTH) ("LightPath," the "Company," or "we"), a leading provider of next-generation optics and imaging systems for both defense and commercial applications, today announced its recently acquired subsidiary G5 Infrared ("G5"), a leading high-end infrared camera systems manufacturer, has been awarded an initial $2.2 million engineering development model (EDM) order for infrared cameras by L3Harris Technologies. The contract supports the U.S. Navy's Shipboard Panoramic Electro-Optic/Infrared (SPEIR) Program, with G5's systems scheduled for delivery to L3Harris in the 2025 calendar year.

The U.S. Navy's SPEIR Program will integrate narrow and wide field of view detection and cueing capability for anti-ship cruise missile defense to counter-fast attack craft and fast inshore attack craft, counter-unmanned aerial vehicles, enhance mobility and to conduct anti-terrorism and force-protection operations. SPEIR will be integrated into all U.S. Navy surface ships with initial installations on Arleigh-Burke-class destroyers.

Sam Rubin, President and Chief Executive Officer of LightPath, said, "With the recent close of our acquisition of G5, this first award we are announcing together will enhance the capabilities of the system, ensuring increased effectiveness and operational readiness for our naval forces. The SPEIR Program is integral to the U.S. Navy's commitment to utilizing cutting-edge technology to enhance passive electronic support capabilities. By integrating G5's advanced camera systems, L3Harris will deliver an imaging solution that meets the rigorous demands of the Navy's operational environment."

"The award further validates our rationale for the G5 acquisition, adding a complementary high-end cooled infrared camera product family with numerous programs of record to significantly enhance our near-term growth. We expect G5 will continue to help accelerate execution of our strategic vision to become a leading vertically integrated infrared imaging solutions provider in the $9 billion infrared imaging market in the months and years to come," concluded Rubin.

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 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 impact of varying demand for the Company products; the ability of the Company to obtain needed raw materials and components from its suppliers; actions governments, businesses, and individuals take in response to the pandemic, including restrictions on onsite commercial interactions; 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; 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; and those factors detailed by LightPath Technologies, Inc. in its public filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K and Quarterly Reports on 10-Q. 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 Securities and Exchange Commission, 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.

View original content to download multimedia:https://www.prnewswire.com/news-releases/lightpath-technologies-awarded-initial-2-2-million-ir-camera-order-for-us-navy-shipboard-optics-speir-program-302424218.html

SOURCE LightPath Technologies

FAQ

What is the value of LightPath Technologies (LPTH) new Navy contract for infrared cameras?

LightPath Technologies' subsidiary G5 Infrared received a $2.2 million engineering development model order for infrared cameras from L3Harris Technologies for the U.S. Navy's SPEIR Program.

When will LPTH deliver the SPEIR Program infrared cameras to L3Harris?

The infrared camera systems are scheduled for delivery to L3Harris during the 2025 calendar year.

Which U.S. Navy ships will first receive LPTH's SPEIR Program systems?

The SPEIR Program systems will be initially installed on Arleigh-Burke-class destroyers before being integrated into all U.S. Navy surface ships.

What are the main capabilities of LPTH's SPEIR Program systems for the U.S. Navy?

The systems provide narrow and wide field of view detection for anti-ship cruise missile defense, counter-fast attack craft operations, counter-UAV capabilities, enhanced mobility, and anti-terrorism operations.