LPTH
LightPath Technologies, Inc.
LPTH
10.15USD
-0.49%
Sep 23, 2026
Price
Loading price history…
Price Action
Price trend is broken
Longer-term context reads trend under pressure, with a near-term setup of distribution pressure.
The tactical setup reads distribution pressure, but the weekly structure is broken.
EntryWeak / unconfirmed recovery
The daily chart may be improving, but the weekly fast averages have not been reclaimed — the recovery is not yet confirmed on the higher timeframe.
Key Financials
- Market Cap
- $710.9M
- Avg Volume (60D)
- 3.2M
- Revenue Growth YoY
- +92.8%
- Gross Margin
- +36.0%
- Operating Margin
- -27.4%
- Free Cash Flow Yield
- -2.3%
- Distance from 200DMA
- -15.7%
- Next Earnings
- 2026-11-12
- P/E
- N/M
- EV / Sales
- 9.8x
60 sessions
FY2026 vs FY2025
Trailing twelve months
Trailing twelve months
Market metrics as of Sep 22, 2026
Financial results for the period ended Jun 30, 2026
Filed balance-sheet data as of Sep 30, 2025
Fundamentals & Valuation
Two of the three valuation perspectives say expensive; peers is the dissenting view.
LightPath Technologies, Inc. has an Expensive valuation stance because the price embeds expectations that run ahead of the cash it currently generates.
What changed
- LIGHTPATH TECHNOLOGIES INC — 8-K (items 2.02, 9.01)Reported on 8-K, dated 2026-09-10.2026-09-10 · source
- LPTH rose 11.2% in one sessionLPTH closed +11.2% while the broad market was close to flat (-0.6%).2026-09-08
- LPTH fell 27.1% in one sessionLPTH closed -27.1% while the broad market was close to flat (-0.5%).2026-08-31
Company Research
Thesis
LightPath is a vertically integrated supplier of infrared optical materials, molded optics, optical assemblies, thermal-imaging cameras, and imaging subsystems used in defense applications including counter-UAS, border protection, ISR, and weapon systems.
Opportunity
High opportunity
Defense procurement for attritable unmanned systems and layered counter-UAS protection against proliferating drone threats, including the electro-optical and infrared sensing systems needed to detect, identify, track, and engage threats.
Key risk
Dependence on defense and government spending.
Narrative & Theme
Defense Rearmament and Industrial Base
Part of Unmanned Systems and Counter-Drone, with strong fit.
Its current defense strategy, backlog, and product mix show direct exposure to the same counter-UAS and defense-sensing procurement cycle: it supplies the EO/IR optical and imaging layer rather than the drone, interceptor, or complete C-UAS platform.
Narrative HeatHeating up8.3 / 10
Theme HeatHeating up7.6 / 10
Business & Markets
Technology · Electronic Components
What they do
LightPath Technologies designs, manufactures, and distributes optical systems and components primarily in the United States, focusing on precision molded glass and infrared optics as well as camera systems for surveillance and detection.
How it earns
The company generates revenue through transactional sales of optical components, camera systems, and engineering services.
Products & services
Precision molded glass aspheric optics
Molded and diamond-turned infrared aspheric lenses
Spherical lenses
Infrared optics
Cooled and uncooled camera systems and modules
Engineering services
Customers & end markets
Defense sector
Border security
Other surveillance and detection markets
Market position
Niche player specializing in precision optical components and infrared systems.
Demand drivers
Medium cyclicality
Demand is influenced by defense spending cycles and government surveillance needs.
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