LightPath Reports Record Backlog and Margin Expansion in Fiscal Q1 2027
LightPath (LPTH) reported strong fiscal first-quarter 2027 results, highlighted by a record total backlog of $132.9 million, representing a 54% increase year-over-year. This growth is primarily driven by surging demand for defense optical systems, specifically unmanned systems and counter-drone equipment. The company is successfully transitioning its business model from selling standalone components to high-value integrated camera assemblies. This strategic pivot, supported by in-house glass manufacturing, helped expand first-quarter gross margins to 41.4%. Additionally, LightPath has completed the full divestiture of its Chinese operations, removing regulatory hurdles and positioning the company for increased participation in restricted U.S. military procurement programs.