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LPTH · NASDAQ · Hardware, Equipment & Parts

LightPath Technologies

Builds optics, infrared assemblies, and imaging systems for defense and commercial applications.

$11.20

After-hours close−0.02 (−0.21%)

At close$11.23(−18.60%)

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Profile

LightPath Technologies, Inc.LPTHInformation Technology

Designs infrared and visible optical components, assemblies and modules, and engineering services for defense and commercial applications. A single Optics segment is shifting from components toward higher-value imaging subsystems and systems.

Designs infrared and visible optical components, assemblies and modules, and engineering services for defense and commercial applications. Its single Optics segment combines precision optics with infrared products. The portfolio spans infrared components, visible components, assemblies and modules, and engineering services.

BlackDiamond chalcogenide glass and proprietary molding technologies underpin its optical and imaging systems. The Visimid acquisition added custom camera sensor and software-system capabilities, while G5 Infrared added an infrared platform and thin-film coating capability.

Facilities in the United States, China, and Latvia support a business moving from components toward imaging subsystems and systems.

Company facts

CEOSam Rubin

ListedFeb 22, 1996

ExchangeNASDAQ

HeadquartersOrlando, FL

CountryUnited States

Employees350

CIK0000889971

ISINUS5322578056

Key statistics

Market cap$705.1M

EPS (ttm)−$0.5068

P/E (ttm)−22.16

ROE-41.2%

P/B5.83

P/S11.23

Dividend yield—

Beta3.65vs XLK 1.37

Year to date −4.2% · Average volume (30d) 2.9M

Analysts

Price target, next 12 months$15.00+33.6%Median of 10 analysts · vs the Aug 28 close

ConsensusBuy10 of 10 analysts rate it buy or better

Ratings

Strong buyBuyHoldSellStrong sell

Target range

Last close $11.23

High$16.50+46.9%

Median$15.00+33.6%

Low$15.00+33.6%

12 months agoNowIn 12 months

Latest analyst notes

Date	Firm	Action	Rating	Prior target	Target
Aug 12, 2026	Piper Sandler	Initiate	Overweight		$15
May 11, 2026	Canaccord Genuity	Reiterate	Buy	$15.50	$16.50
May 8, 2026	Lake Street	Target		$14	$15
Feb 12, 2026	Canaccord Genuity	Target		$15	$15.50
Feb 12, 2026	H.C. Wainwright	Target		$8	$15

Earnings

EPS

Estimate−$0.02

ReportedDue Sep 24, 2026

Revenue

Estimate$20.6M

ReportedDue Sep 24, 2026

History

Report date	EPS est	EPS	Surprise	Revenue est	Revenue	Surprise	Next session
May 7, 2026Q3 FY26	−$0.02	−$0.02	0.0%	$17.0M	$19.1M	+12.4%	−4.32%
Feb 11, 2026Q2 FY26	−$0.04	−$0.03	+25.0%	$15.0M	$16.4M	+9.3%	+21.52%
Nov 11, 2025Q1 FY26	−$0.06	−$0.05	+16.7%	$14.9M	$15.1M	+1.3%	−8.33%
Sep 25, 2025Q4 FY25	−$0.03	−$0.07	−133.3%	$12.2M	$12.2M	+0.1%	+21.54%

View details

Financial highlights

	Q2 FY25	Q3 FY25	Q4 FY25	Q1 FY26	Q2 FY26	Q3 FY26
Revenue	$7.4M	$9.2M	$12.2M	$15.1M	$16.4M	$19.1M
Gross profit	$1.9M	$2.7M	$2.7M	$4.5M	$6.0M	$7.0M
Operating income	−$2.5M	−$3.3M	−$4.6M	−$2.5M	−$1.0M	−$859.0K
Net income	−$2.6M	−$3.6M	−$7.1M	−$2.9M	−$9.4M	−$4.1M
Diluted EPS	−$0.07	−$0.09	−$0.17	−$0.07	−$0.20	−$0.07
Gross margin	26.0%	29.1%	22.0%	29.8%	36.8%	36.3%
Operating margin	-33.5%	-36.3%	-38.0%	-16.6%	-6.4%	-4.5%

Fiscal years (4-quarter sums)FY21 $38.5M · FY22 $35.6M · FY23 $32.9M · FY24 $31.7M · FY25 $37.2M

Revenue by product · Q3 FY26

Engineering Services$596.2K · 100%

Revenue by geography · Q3 FY26

United States$10.1M · 53%

Europe$7.0M · 36%

China$1.0M · 5%

Asia$791.5K · 4%

Other Foreign Countries$221.1K · 1%

Balance sheet, Mar 31, 2026Cash & short-term investments $55.2M · Total debt $11.3M · Total assets $144.3M · Shareholders' equity $112.9M

Dividends

No dividends on record.

Ownership

Institutions 53.80%33.78M sharesInsiders 5.61%3.52M sharesOther 40.59%25.49M shares

Shares outstanding 62.79M · Float 62.09M · 98.9% free float

Top shareholders13F · 13D/G · Form 4

Holder	Shares	% outstanding	Form	Filed
BlackRock, Inc.	4.29M	6.50%	13G	Jul 29, 2026
Hood River Capital Management LLC	3.56M	5.37%	13G	Aug 14, 2026
North Run Strategic Opportunities Fund I, LP · director, 10 percent owner:	2.93M	4.67%	Form 4	Jun 4, 2026
Vanguard Capital Management	2.93M	5.06%	13G	Apr 30, 2026
Goldman Sachs Group Inc	2.48M	3.94%	13F	May 15, 2026

Insider tradesForm 4

Date	Insider	Role	Shares	Avg price
Jun 3, 2026	North Run Strategic Opportunities Fund I, LP	director, 10 percent owner:	−3,571,400	$14.00
May 18, 2026	North Run Strategic Opportunities Fund I, LP	director, 10 percent owner:	−55,284	$12.32
May 14, 2026	North Run Strategic Opportunities Fund I, LP	director, 10 percent owner:	−165,000	$12.16
May 13, 2026	North Run Strategic Opportunities Fund I, LP	director, 10 percent owner:	−45,000	$12.29
May 12, 2026	North Run Strategic Opportunities Fund I, LP	director, 10 percent owner:	−83,052	$12.25