LightPath Technologies Reports Record Fiscal 2026 Performance
LightPath Technologies (NASDAQ:LPTH) reported record fiscal 2026 results marked by nearly doubled revenue to $71.7 million, a gross margin expansion from 27% to 36%, and adjusted EBITDA turning positive at $4.2 million. The company also saw its backlog surge 197% year-over-year to $110.9 million, driven by strong demand for higher-value products in defense applications such as Counter-UAS systems. In the fourth quarter alone, revenue reached a record high of $21.2 million with a gross margin of 39.4%, and adjusted EBITDA remained positive for four consecutive quarters at $2.1 million or 10% of revenue. The company's shift toward assemblies, modules, and camera products contributed significantly to this performance, representing 43% of Q4 revenue. LightPath is also expanding its production capacity in the U.S. and Latvia while reducing reliance on China by selling its subsidiary for $4.5 million. With a strong cash balance of $93.2 million and minimal debt, the company plans to fund increased capital spending for fiscal 2027.
Topics: backlog_increase capacity_expansion ebitda_improvement revenue_growth