LightPath Technologies Reports Strong Fiscal Results Amid Defense Pivot
LightPath Technologies (NASDAQ:LPTH) reported strong fiscal fourth-quarter and full-year results, marking a significant financial turnaround following its strategic shift toward defense-related products. Annual revenue nearly doubled to $71.7 million from $37.2 million in the prior year, with gross margins expanding due to higher-value product sales such as assemblies and modules. The company also completed its exit from China by selling its subsidiary for $4.5 million over five years. Despite record revenue growth, LightPath faced growing pains including a narrowed fourth-quarter net loss of $4.1 million and increased operating expenses driven in part by an acquisition-related noncash charge. Some defense programs are experiencing delays, such as the Army's Next Generation Short Range Interceptor timeline being pushed back and supply chain constraints affecting detector lead times. Hedge fund ownership decreased to 20 funds from 27 in the prior quarter, while short interest remains high at 15.44% of float, indicating lingering skepticism among investors despite improved financial performance.
Tickers: $LPTH
Topics: backlog increase China exit defense pivot margin expansion revenue growth