Lightpath Technologies Inc Stock Price, News & Analysis

LightPath Technologies (NASDAQ:LPTH) has reported operational disruptions due to Hurricane Ian, resulting in facility closures for nearly three days in Orlando, Florida. This led to delays in shipments, with a projected revenue impact of $400,000 to $700,000 for the first quarter of fiscal 2023. CEO Sam Rubin assured that, despite these challenges, no additional material financial impacts are expected. LightPath continues to prioritize employee safety while monitoring storm-related effects on operations.

LightPath Technologies (NASDAQ:LPTH) reported financial results for the fourth quarter and the full fiscal year ended June 30, 2022. For Q4, revenue was $8.9 million, up from $8.3 million year-over-year, with a net loss of $1.4 million. Full-year revenue decreased to $35.6 million from $38.5 million, alongside a net loss of $3.5 million. Despite challenges including inflation and geopolitical tensions, improvements in gross margin were noted, which rose to 32% in Q4. The company is shifting towards integrated optical solutions, with a backlog of $17.8 million, signaling future growth potential.

LightPath Technologies (NASDAQ:LPTH) will present virtually at the H.C. Wainwright Annual Global Investment Conference from September 12-14, 2022. CEO Sam Rubin will be available for one-on-one meetings through September 16. The presentation will be on-demand for attendees. LightPath, a global leader in optical and infrared technologies, offers products for various sectors, including defense and telecommunications. The company is headquartered in Orlando, Florida, with manufacturing in Latvia and China. For more information, visit lightpath.com.

LightPath Technologies (LPTH) has announced the scheduling of its fiscal 2022 fourth quarter and full-year financial results to be reported on September 14, 2022, after market close. A conference call and webcast will follow at 5:00 PM ET. LightPath is a prominent global manufacturer of optical and infrared components tailored for various industries, including defense and telecommunications. The conference call will provide insights into the company’s performance and future outlook.

LightPath Technologies (NASDAQ: LPTH) reported a record backlog of $24.0 million in August 2022, exceeding the previous record of $23.8 million from December 2020. CEO Sam Rubin noted that this backlog reflects the success of the company’s new strategy, with a focus on high-value solutions in the US and Europe. The backlog includes more orders for infrared assemblies and is indicative of customer diversification. While the company anticipates lower revenue in the upcoming fiscal fourth quarter, the overall trends suggest positive growth potential for the fiscal year 2023.

LightPath Technologies (NASDAQ:LPTH) announced a new supply agreement for Precision Molded Optics with a long-time European customer, effective in the second half of fiscal 2023, lasting 12-18 months. This $4 million agreement expands existing contracts, transitioning orders directly from LightPath instead of a former distributor, which is expected to positively influence revenue. CEO Sam Rubin emphasized that this partnership reflects growth in unit purchases and validates the value of their molded optics solutions for the European market.

LightPath Technologies (NASDAQ:LPTH) has partnered with Israeli firm QuantLR to develop a free space quantum encryption system. This collaboration aims to establish secure optical communication channels for Quantum Key Distribution (QKD), enhancing data security against contemporary and future threats. The project includes communication between ground stations and satellites, targeting applications in high-rate data transmission. The initiative originates from a joint program between Space Florida and the Israeli Innovation Authority, focused on cost-effective quantum cryptographic solutions.

LightPath Technologies (NASDAQ: LPTH) will present at the LD Micro Invitational conference from June 7 to 9, 2022. CEO Sam Rubin is scheduled to speak on June 7 at 4:00 PM ET. The presentation will be live-streamed and available for replay. Management will also hold one-on-one meetings during the event. LightPath specializes in optical and infrared technologies across various industries, including defense and telecommunications. For more details, visit lightpath.com.