- LightPath Technologies (LPTH, Financial) reported a 19.1% increase in revenue for Q3 2025, totaling $9.2 million.
- Net loss widened to $3.6 million from $2.6 million year-over-year.
- The company secured $11.9 million in defense contracts and completed the acquisition of G5 Infrared.
LightPath Technologies (LPTH) announced its financial results for the third quarter of fiscal 2025, ending March 31. The company reported a revenue increase of 19.1% year-over-year, reaching $9.2 million compared to $7.7 million in the same period last year. Gross profit also saw a significant rise of 65.9%, amounting to $2.7 million, thanks to a favorable shift in product mix.
Despite the revenue growth, LightPath's net loss expanded to $3.6 million, or $0.09 per share, from a $2.6 million net loss in Q3 2024. Operating expenses climbed 42.9% to $6.0 million, mainly due to acquisition-related costs and increased spending on marketing and development initiatives.
A strategic highlight for LightPath this quarter was the acquisition of G5 Infrared, a move that aligns with the company's goal to become a leading vertically-integrated provider of infrared imaging solutions. The acquisition allows LightPath to enhance its product portfolio with cooled infrared camera solutions.
Additionally, LightPath secured $11.9 million in significant defense contracts. This includes a $2.2 million order from L3Harris Technologies for the U.S. Navy's SPEIR Program, a $4.8 million initial order from a new defense customer, and a $4.9 million order from an existing customer for cooled infrared cameras.
Amid China's ban on Germanium exports, LightPath's proprietary BlackDiamond™ technology provides a strategic advantage, offering a Germanium-free solution in the infrared optics market. This technology supports the company's transition away from legacy Germanium-based products.
CEO Sam Rubin emphasized the company's focus on expanding its market presence and capitalizing on new business opportunities through the integration of G5 Infrared and the advantages of their BlackDiamond™ technology.
