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.
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.
LightPath Technologies (NASDAQ:LPTH) will present at the Spring Into Action - Best Ideas Virtual Investor Conference from May 17-20, 2022. The company's presentation is scheduled for May 18 at 3:30 PM ET. A live webcast will be available for replay. Management is open for one-on-one meetings during the event. This conference features top 36 investment ideas recommended by qualified institutional investors. LightPath, a global provider of optical and infrared solutions, is headquartered in Orlando, Florida, with additional offices in Latvia and China.
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