LightPath Technologies reported fiscal fourth quarter 2026 revenue of $21.2 million, surpassing consensus estimates and growing 74% year-over-year. Growth was fueled by record demand for germanium-free optics in the defense sector and the successful integration of Amorphous Materials (AML). While the company posted a net loss of $0.06 per share, missing estimates due to non-cash acquisition earnout adjustments, it achieved its fourth consecutive quarter of positive adjusted EBITDA and record ending backlog.
Key Highlights
- Record order backlog reached $110.9 million, a 197% increase year-over-year, with approximately $85.6 million scheduled for delivery within the next 12 months.
- Gross margin expanded significantly to 39.4% in the fourth quarter from 22.0% in the prior year period, driven by a higher-margin product mix of assemblies and modules.
- Signed a definitive agreement to divest China-based operations (LPOIZ) for $4.5 million, completing the company's transition to a fully Western-aligned manufacturing footprint.
- Cash and cash equivalents ended the fiscal year at $93.2 million, following a $50 million primary stock offering used to fund domestic capacity expansion.