Lightpath Technologies Inc Stock Price, News & Analysis

LightPath Technologies (NASDAQ: LPTH) updates on operational impacts from the recent COVID-19 outbreaks in China and the Russia-Ukraine war. The company reported 1,337 new COVID cases in China as of March 13, 2022, exceeding the year’s prior total. While LightPath continues operations, some employees are quarantined, affecting supply chains and expected revenue reductions of $1.0 to $1.25 million for the fiscal third quarter ending March 31, 2022. However, there have been no order cancellations, indicating stability. Upcoming financial results will be reported on May 12, 2022.

LightPath Technologies (NASDAQ: LPTH) announced military qualification for its Diamond Like Carbon (DLC) coating process on Black Diamond (BD6) infrared lenses. This milestone enables access to the significant defense market, as military contracts require high-volume production. The qualification follows rigorous testing, enhancing the company's manufacturing capabilities in Florida and Latvia. LightPath has also secured an exclusive optical license from the U.S. Navy, facilitating growth in the infrared imaging sector projected to reach $8.3 billion by 2025.

LightPath Technologies reported a fiscal 2022 Q2 revenue of $9.2 million, a 7% decrease year-over-year. The company is experiencing growth in its freeform optics segment, with 8 ongoing projects expected to generate $1-5 million annually each. LightPath has expanded its manufacturing capabilities and secured a $4.2 million supply agreement. However, it faced a $1.1 million net loss, attributed to management transition expenses in China and a drop in telecommunications orders. Cash reserves stood at $5.1 million with total debt of $4.7 million.

LightPath Technologies (NASDAQ: LPTH) has announced investor events including a fiscal 2022 second quarter financial results conference call on February 10, 2022, at 5:00 PM ET. A press release will precede this at market close. Additionally, the company will participate in A.G.P.'s Virtual Emerging Growth Technology Conference on February 2, 2022, conducting 1:1 meetings with institutional investors. Presentation materials will be available on their website.

LightPath designs and manufactures optical and infrared components for diverse industries, with operations based in Orlando, Florida.

LightPath Technologies (NASDAQ: LPTH) completed its coating operations expansion in Riga, Latvia, investing over $1.5 million in advanced coating machines. This upgrade enhances its production capacity for infrared optics, crucial for applications such as thermal imaging, military defense, and medical diagnostics. CEO Sam Rubin emphasized that the expansion will streamline operations and improve profitability by reducing lead times and costs. CFO Al Miranda noted the capacity will enable better responsiveness to customer needs and improve margins, thereby increasing cash generation.

LightPath Technologies (NASDAQ:LPTH) will present at the 24th Annual Needham Virtual Growth Conference on January 10, 2022, at 10:45 a.m. EST. The management team is also available for virtual 1:1 meetings throughout the day. Interested investors should contact their Needham representative or Jordan Darrow at jdarrow@darrowir.com. LightPath is a global leader in optics and infrared components for various industries, including defense and telecommunications. Presentation materials will be available on the Company’s website on the morning of the conference.

LightPath Technologies (NASDAQ: LPTH) announced a renewal of an annual supply agreement valued at over $4.2 million for infrared optical lens elements from a leading commercial infrared vision products customer. The agreement includes lenses for thermal monocular and weapon sights for outdoor and rescue applications. LightPath anticipates additional orders for next-generation products throughout the year, based on its history of high-quality optics production. Operations to fulfill this agreement will take place in Latvia, Florida, and China.

LightPath Technologies (NASDAQ:LPTH) has been awarded a grant by the European Space Agency to develop chalcogenide materials for space applications, presenting a viable alternative to germanium crystals. The funding will aid ISP Optics, a subsidiary in Latvia, in evaluating the properties of chalcogenide glass compared to germanium. This initiative aligns with the growing demand in the commercial satellite imaging market, projected to reach $7 billion by 2030. Recent partnerships and licenses further position LightPath in the infrared optics sector.