LightPath Technologies Secures $4.8 Million Qualification Order for Infrared Cameras with New Defense Customer

Rhea-AI Summary

LightPath Technologies (NASDAQ: LPTH) has secured a significant $4.8 million qualification order for infrared cameras through its recently acquired subsidiary G5 Infrared. The order comes from a new defense industry customer, with deliveries scheduled throughout calendar year 2025.

The company's cooled infrared cameras, designed for all-weather security and surveillance, offer superior target detection and recognition capabilities. CEO Sam Rubin highlighted that this initial order validates the G5 acquisition and suggests potential follow-on orders.

G5's business model is supported by established multi-year contracts in various sectors including:

• Shipboard long-range surveillance
• Border security
• Counter UAS systems
• Recurring federal, naval, and law enforcement programs

The company anticipates multiple program awards to enter production in upcoming quarters.

Positive

• Secured new $4.8M qualification order from defense customer
• Potential for multiple follow-on orders with the same customer
• Established multi-year contracts across multiple defense programs
• Strong pipeline of new business opportunities with production starting soon

Negative

• None.

ORLANDO, Fla., March 18, 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, received an $4.8 million initial qualification order for infrared cameras with a new defense industry customer, for delivery in calendar year 2025.

LightPath's cooled infrared cameras are the system of choice for all-weather security and surveillance. With outstanding target detection and recognition capabilities, the camera combines high-end performance with reliability and ease of use.

"This initial qualification order further validates our accretive acquisition of G5," said Sam Rubin, President and Chief Executive Officer of LightPath. "Delivery of the order will be on an ongoing basis, starting in the coming weeks and extending through end of year. We believe this could lead to multiple follow-on orders with this customer in the near future. G5's revenue is driven by established multi-year contracts and multiple programs of record in shipboard long-range surveillance, border security, and counter UAS systems, as well as recurring federal, naval, and law enforcement programs. G5 has a significant pipeline of new business opportunities, with multiple program awards expected to begin production in the coming quarters."

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.

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SOURCE LightPath Technologies

FAQ

What is the value of LightPath Technologies' (LPTH) new defense contract in 2025?

LightPath Technologies secured a $4.8 million qualification order for infrared cameras from a new defense industry customer for delivery in 2025.

What type of products will LPTH deliver under the new defense contract?

LPTH will deliver cooled infrared cameras designed for all-weather security and surveillance with target detection and recognition capabilities.

When will LPTH begin delivering the infrared cameras for the new defense order?

Deliveries will begin in the coming weeks and extend through the end of 2025.

What markets does G5 Infrared, LPTH's subsidiary, serve with its contracts?

G5 serves shipboard long-range surveillance, border security, counter UAS systems, and federal, naval, and law enforcement programs.