LightPath Technologies reported first quarter fiscal 2027 revenue of $20.8 million, missing analyst expectations, but achieved a record order backlog of $132.9 million. The company's strategic pivot toward high-margin optical assemblies and modules proved effective, with that segment growing to 51% of total sales and driving a gross margin expansion of 1,160 basis points to 41.4%.
Key Highlights
- Order backlog reached a record $132.9 million, representing a 54% increase year-over-year, with $110.8 million requested for delivery within the next 12 months.
- Gross margin surged to 41.4% from 29.8% in the prior year, primarily driven by the favorable revenue mix shift toward higher-value infrared modules.
- Completed the divestiture of its Chinese subsidiary on October 30, 2026, finalizing the company's transition to a Western-only manufacturing footprint.
- Secured over $30 million in follow-on orders for counter-drone (C-UAS) and infrared systems, including a single October order for 50,000 drone camera assemblies.