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Lightpath Technologies Inc - LPTH STOCK NEWS

Welcome to our dedicated page for Lightpath Technologies news (Ticker: LPTH), a resource for investors and traders seeking the latest updates and insights on Lightpath Technologies stock.

LightPath Technologies Inc. (NASDAQ: LPTH) is a premier global provider of optics, photonics, and infrared solutions, with over 25 years of experience serving blue chip customers across the industrial, defense, telecommunications, testing and measurement, and medical industries. The company designs, manufactures, and distributes a comprehensive range of optical components such as molded glass aspheric lenses and assemblies, infrared lenses, thermal imaging assemblies, fused fiber collimators, and gradient index (GRADIUM®) lenses.

Headquartered in Orlando, Florida, LightPath operates with manufacturing and sales offices in Dallas, Texas, Latvia, and China. The company’s vertically integrated approach ensures high levels of optical integration, cost efficiency, and superior quality.

LightPath is known for its proprietary materials, including the BlackDiamond™ (BD6) chalcogenide-based glass lenses, and has been recognized with the William C. Schwartz Industry Innovation Award for pioneering infrared optics manufacturing technologies. The company’s ISO 9001:2008 certification underscores its commitment to quality and excellence.

In recent developments, LightPath launched the BDNL-4, a new infrared glass material that is a key component in the chalcogenide glass series, designed to replace Germanium in infrared optics. This material, developed in collaboration with the US Naval Research Laboratories (NRL) and the US Department of Defense (DoD), offers significant advantages, including a negative thermo-optic coefficient for athermalization and multi-spectral capabilities.

The company has expanded its defense market presence, securing a European Defense license and achieving a 30% revenue increase from defense sales. LightPath has also introduced innovative products like the uncooled HS LWIR thermal camera and the Mantis™ camera for high-temperature process monitoring, positioning itself strongly in the rapidly growing defense and industrial markets.

LightPath’s strategic shift towards providing customized lens assemblies and advanced optical solutions, as evidenced by its collaboration with Lockheed Martin on a new missile program, marks a significant evolution from its traditional role as a components manufacturer. The company’s third-quarter financial results highlighted this transformation, with substantial investments in new materials, expanded production capacities, and a growing sales backlog, despite current revenue and gross margin challenges.

For more detailed updates on LightPath Technologies Inc., visit www.lightpath.com.

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LightPath Technologies (NASDAQ:LPTH) will release its fiscal 2023 second quarter financial results on February 9, 2023, after the market closes. A conference call and webcast are set for the same day at 5:00 PM (ET). Interested participants can join via dial-in or webcast. The replay will be available shortly after the call until February 23, 2023. Based in Orlando, Florida, LightPath specializes in optics, photonics, and infrared solutions across various sectors including defense and telecommunications. The company also operates globally with manufacturing facilities in Latvia and China.

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LightPath Technologies (NASDAQ:LPTH) announced a public offering of 9,090,910 shares of common stock at $1.10 per share, totaling approximately $10 million in gross proceeds. The offering is set to close around January 17, 2023, pending customary conditions. The funds raised will support future growth initiatives, working capital, and general corporate purposes. A.G.P./Alliance Global Partners is the sole placement agent for this offering, which is registered under an effective shelf registration statement.

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LightPath Technologies (NASDAQ:LPTH) announced a planned public offering of its common stock, aiming to raise funds for working capital and general corporate purposes. The offering's size and terms remain subject to market conditions. A.G.P./Alliance Global Partners is the sole placement agent for this endeavor. This offering follows an effective shelf registration statement previously filed with the SEC. Investors are advised to read the accompanying prospectus for detailed information.

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LightPath Technologies (NASDAQ:LPTH) has unveiled MANTIS, its inaugural Multi-Spectral Infrared Camera System. This innovative camera system efficiently combines midwave and longwave infrared imaging capabilities without requiring complex cooling systems, addressing significant market needs. The thermal imaging market, currently valued at $6.7 billion, is projected to reach $8.8 billion by 2026, with LightPath aiming to capture a substantial share. CEO Sam Rubin emphasized that MANTIS signifies a strategic advancement for the company, leveraging proprietary materials to enhance performance.

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LightPath Technologies (NASDAQ:LPTH) announced a leadership transition as Scott Faris is appointed Chair of the Board, succeeding Louis Leeburg. Faris, a director since 2011, brings extensive entrepreneurial experience and insights from the optics, quantum, and automotive Lidar markets. CEO Sam Rubin expressed confidence in Faris's strategic direction. This change aims to enhance the company's focus on optical solutions and product innovation, including the new MANTIS multispectral infrared camera.

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LightPath Technologies (NASDAQ: LPTH) has secured a $2.5 million order to provide advanced infrared optics for a significant military program after a rigorous qualification process. This program, crucial for infrared imaging and threat detection, is utilized across U.S. military branches. The order marks an increase in business with the customer and contributes to a record backlog of $31 million for the company in 2022. CEO Sam Rubin highlighted this achievement as a step toward further integration with military technologies, indicating potential for future orders as the program expands.

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LightPath Technologies (NASDAQ:LPTH) has announced a renewed supply contract exceeding $5 million with a major commercial infrared vision products customer, marking a 20% increase from the previous year. The agreement involves supplying infrared optics for hand-held thermal monoculars and weapon sights used by a European manufacturer. This renewal highlights LightPath's capacity to deliver high-quality optical products at a commercial scale and signifies an expansion of their partnership.

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LightPath Technologies (NASDAQ: LPTH) reported financial results for Q1 FY2023, revealing a revenue decline to $7.4 million from $9.1 million YoY, attributed to reduced demand in China and Hurricane Ian's impact on operations. The company recorded a net loss of $1.4 million, or $0.05 per share, compared to a loss of $632,000 in the prior year. Despite challenges, total backlog reached $23.0 million, up 19% YoY. Management continues to pivot towards high-value optical solutions, particularly in the US and Europe, leveraging proprietary materials amidst global supply chain issues.

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LightPath Technologies (NASDAQ:LPTH) announced that its BD6 infrared glass has passed radiation tests, qualifying it as a replacement for Germanium in space applications. This achievement is part of a European Space Agency project, aligning with efforts by the US Department of Defense and European defense agencies to find alternatives to Germanium. The tests simulate radiation exposure faced during ESA missions. The market for commercial satellite imaging is projected to grow at a CAGR of 10.8% and reach $7 billion by 2030, with applications in missile detection and industrial processes.

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LightPath Technologies, Inc. (NASDAQ: LPTH) plans to release its fiscal 2023 first quarter financial results on November 10, 2022, after market close. A conference call and webcast will be held at 5:00 PM (ET) on the same day. Participants should join approximately 10 minutes early. A replay will be available shortly after the call, lasting until November 24, 2022. The company specializes in optical and infrared components for various industries, including defense and medical.

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FAQ

What is the current stock price of Lightpath Technologies (LPTH)?

The current stock price of Lightpath Technologies (LPTH) is $2.69 as of December 20, 2024.

What is the market cap of Lightpath Technologies (LPTH)?

The market cap of Lightpath Technologies (LPTH) is approximately 102.3M.

What industries does LightPath Technologies serve?

LightPath Technologies serves industrial, defense, telecommunications, testing and measurement, and medical industries.

What are some recent developments at LightPath Technologies?

Recent developments include the launch of BDNL-4 infrared glass, securing a European Defense license, and introducing the HS LWIR thermal camera and Mantis™ camera.

What is BDNL-4?

BDNL-4 is a new infrared glass material developed as a Germanium substitute with a negative thermo-optic coefficient, offering multi-spectral capabilities.

Where is LightPath Technologies headquartered?

LightPath Technologies is headquartered in Orlando, Florida.

What is the significance of LightPath's European Defense license?

The license allows LightPath to supply products directly to the European Defense industry, expanding its market presence in one of the largest defense markets globally.

What is the Mantis™ camera used for?

The Mantis™ camera is designed for monitoring high-temperature processes in power plants, providing accurate and reliable imaging over a wide range of temperatures.

What products does LightPath Technologies offer?

The company offers optical components like molded glass aspheric lenses, infrared lenses, thermal imaging assemblies, fused fiber collimators, and GRADIUM® lenses.

What is LightPath Technologies' certification status?

LightPath Technologies is ISO 9001:2008 certified.

How has LightPath's defense market presence changed recently?

Defense sales have increased from 8% to 30% of total revenue, with significant contracts secured with the DoD and Lockheed Martin.

What is the new HS LWIR thermal camera?

The HS LWIR thermal camera is an uncooled thermal camera with a record low noise level of 15mK, suitable for applications requiring extreme sensitivity and low power consumption.

Lightpath Technologies Inc

Nasdaq:LPTH

LPTH Rankings

LPTH Stock Data

102.34M
33.26M
2.75%
45.85%
0.12%
Electronic Components
Semiconductors & Related Devices
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United States of America
ORLANDO