NASDAQ : LPTH
LightPath Technologies, Inc. — Financial statements
Technology · Electronic Components · United States
Last price 8.1 USD (Oct 30, 2026, 4:00 PM EDT) · Market cap 567.29M
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Financial statements
LightPath Technologies, Inc. (LPTH) reported revenue of 71.72M USD (TTM). Five years of income statement, balance sheet, cash flow and ratios below.
Income statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Revenue | 71.72M | 71.72M | 37.20M | 31.73M | 32.93M | 35.56M |
| Cost of Revenue | 45.92M | 45.92M | 27.07M | 23.09M | 21.86M | 23.74M |
| Gross Profit | 25.80M | 25.80M | 10.13M | 8.63M | 11.07M | 11.81M |
| Selling, General & Admin | 24.37M | 24.37M | 14.71M | 11.60M | 11.44M | 11.22M |
| Research & Development | 3.78M | 3.78M | 3.06M | 2.40M | 2.15M | 2.09M |
| Amortization of Goodwill & Intangibles | 1.83M | 1.83M | 1.41M | 1.64M | 1.13M | 1.13M |
| Operating Expenses | 29.99M | 29.99M | 19.19M | 15.64M | 14.71M | 14.43M |
| Operating Income | -4.18M | -4.18M | -9.06M | -7.00M | -3.63M | -2.62M |
| Interest Expense | -1.12M | -191.86K | -283.27K | -229.47K | ||
| Interest & Investment Income | 16.00K | 16.00K | ||||
| Currency Exchange Gain (Loss) | -100.00K | -100.00K | -100.00K | 100.00K | -37.00K | -3.00K |
| Other Non Operating Income (Expenses) | 13.73K | 13.73K | -1.38M | -221.33K | 61.97K | 180.44K |
| EBT Excluding Unusual Items | -4.25M | -4.25M | -11.66M | -7.32M | -3.89M | -2.67M |
| Merger & Restructuring Charges | -290.45K | -290.45K | -1.10M | -698.00K | ||
| Gain (Loss) on Sale of Assets | 455.09K | 455.09K | -99.33K | -124.58K | 78.37K | -9.23K |
| Legal Settlements | 200.00K | |||||
| Other Unusual Items | -16.14M | -16.14M | -1.98M | |||
| Pretax Income | -20.23M | -20.23M | -14.84M | -7.94M | -3.81M | -2.68M |
| Income Tax Expense | 314.71K | 314.71K | 37.79K | 67.49K | 234.03K | 862.91K |
| Net Income | -20.55M | -20.55M | -14.87M | -8.01M | -4.05M | -3.54M |
| Net Income to Common | -20.55M | -20.55M | -14.87M | -8.01M | -4.05M | -3.54M |
| Shares Outstanding (Basic) | 53.37M | 53.37M | 40.87M | 37.94M | 31.64M | 27.02M |
| Shares Outstanding (Diluted) | 53.37M | 53.37M | 40.87M | 37.94M | 31.64M | 27.02M |
| EPS (Basic) | -0.38 | -0.38 | -0.36 | -0.21 | -0.13 | -0.13 |
| EPS (Diluted) | -0.38 | -0.38 | -0.36 | -0.21 | -0.13 | -0.13 |
| Free Cash Flow | -16.49M | -16.49M | -9.59M | -1.66M | -5.89M | -162.49K |
| Free Cash Flow Per Share | -0.31 | -0.31 | -0.23 | -0.04 | -0.19 | -0.01 |
| Gross Margin | 35.98% | 35.98% | 27.23% | 27.21% | 33.63% | 33.23% |
| Operating Margin | -5.83% | -5.83% | -24.36% | -22.08% | -11.03% | -7.36% |
| Profit Margin | -28.65% | -28.65% | -39.98% | -25.24% | -12.29% | -9.96% |
| Free Cash Flow Margin | -23.00% | -23.00% | -25.79% | -5.24% | -17.87% | -0.46% |
| EBITDA | 855.45K | 855.45K | -4.91M | -2.96M | -458.35K | 999.74K |
| EBITDA Margin | 1.19% | 1.19% | -13.21% | -9.32% | -1.39% | 2.81% |
| D&A For EBITDA | 5.04M | 5.04M | 4.15M | 4.05M | 3.17M | 3.62M |
| EBIT | -4.18M | -4.18M | -9.06M | -7.00M | -3.63M | -2.62M |
| EBIT Margin | -5.83% | -5.83% | -24.36% | -22.08% | -11.03% | -7.36% |
Balance sheet
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Cash & Equivalents | 93.20M | 93.20M | 4.88M | 3.48M | 4.69M | 5.51M |
| Cash & Short-Term Investments | 93.20M | 93.20M | 4.88M | 3.48M | 4.69M | 5.51M |
| Accounts Receivable | 15.11M | 15.11M | 9.46M | 4.93M | 6.63M | 5.21M |
| Receivables | 15.11M | 15.11M | 9.46M | 4.93M | 6.63M | 5.21M |
| Inventory | 18.01M | 18.01M | 12.86M | 6.55M | 7.41M | 6.99M |
| Prepaid Expenses | 3.46M | 3.46M | 1.14M | 445.90K | 570.29K | 464.80K |
| Restricted Cash | 2.46M | |||||
| Other Current Assets | 116.03K | 116.03K | 40.15K | 131.18K | ||
| Total Current Assets | 129.90M | 129.90M | 28.37M | 15.54M | 21.76M | 18.17M |
| Property, Plant & Equipment | 27.48M | 27.48M | 23.29M | 21.95M | 22.38M | 22.06M |
| Goodwill | 19.32M | 19.32M | 13.75M | 6.76M | 5.85M | 5.85M |
| Other Intangible Assets | 17.13M | 17.13M | 15.99M | 3.65M | 3.33M | 4.46M |
| Long-Term Deferred Tax Assets | 85.90K | 85.90K | 22.57K | 123.00K | 140.00K | 143.00K |
| Other Long-Term Assets | 96.58K | 96.58K | 73.92K | 59.60K | 65.94K | 27.74K |
| Total Assets | 194.01M | 194.01M | 81.51M | 48.09M | 53.54M | 50.71M |
| Accounts Payable | 7.69M | 7.69M | 7.42M | 3.23M | 2.57M | 3.07M |
| Accrued Expenses | 16.92M | 16.92M | 8.05M | 3.36M | 2.16M | 2.64M |
| Current Portion of Long-Term Debt | 112.32K | 112.32K | 172.57K | 209.17K | 1.02M | 998.69K |
| Current Portion of Leases | 1.46M | 1.46M | 1.46M | 1.24M | 1.07M | 1.02M |
| Total Current Liabilities | 26.18M | 26.18M | 17.10M | 8.04M | 6.83M | 7.73M |
| Long-Term Debt | 74.88K | 74.88K | 4.80M | 325.88K | 1.55M | 3.22M |
| Long-Term Leases | 9.28M | 9.28M | 8.75M | 8.59M | 8.73M | 9.49M |
| Long-Term Deferred Tax Liabilities | 95.08K | 95.08K | 152.76K | 326.20K | 465.00K | 541.01K |
| Other Long-Term Liabilities | 823.00K | 611.62K | ||||
| Total Liabilities | 35.63M | 35.63M | 31.63M | 17.89M | 17.58M | 20.98M |
| Common Stock | 699.63K | 699.63K | 429.49K | 392.55K | 373.45K | 270.47K |
| Additional Paid-In Capital | 398.73M | 398.73M | 244.95M | 245.14M | 242.81M | 232.32M |
| Retained Earnings | -251.26M | -251.26M | -230.72M | -215.84M | -207.84M | -203.79M |
| Comprehensive Income & Other | 1.31M | 1.31M | 978.69K | 509.94K | 606.54K | 935.12K |
| Total Common Equity | 149.47M | 149.47M | 15.64M | 30.20M | 35.95M | 29.73M |
| Shareholders' Equity | 158.38M | 158.38M | 49.88M | 30.20M | 35.95M | 29.73M |
| Total Liabilities & Equity | 194.01M | 194.01M | 81.51M | 48.09M | 53.54M | 50.71M |
| Total Debt | 10.93M | 10.93M | 15.19M | 10.36M | 12.38M | 14.73M |
| Net Cash (Debt) | 82.28M | 82.28M | -10.31M | -6.88M | -7.70M | -9.22M |
| Net Cash Per Share | 1.54 | 1.54 | -0.25 | -0.18 | -0.24 | -0.34 |
| Filing Date Shares Outstanding | 70.04M | 70.04M | 44.67M | 39.55M | 37.46M | 27.07M |
| Total Common Shares Outstanding | 69.96M | 69.96M | 42.95M | 39.25M | 37.34M | 27.05M |
| Working Capital | 103.72M | 103.72M | 11.27M | 7.50M | 14.93M | 10.44M |
| Book Value Per Share | 2.14 | 2.14 | 0.36 | 0.77 | 0.96 | 1.10 |
| Tangible Book Value | 113.02M | 113.02M | -14.10M | 19.78M | 26.76M | 19.42M |
| Tangible Book Value Per Share | 1.62 | 1.62 | -0.33 | 0.50 | 0.72 | 0.72 |
| Machinery | 31.43M | 31.43M | 26.11M | 23.90M | 23.62M | 23.39M |
| Construction In Progress | 2.51M | 2.51M | 1.54M | 646.22K | 3.07M | 943.79K |
| Leasehold Improvements | 9.81M | 9.81M | 9.41M | 8.96M | 2.74M | 3.04M |
| Order Backlog | 110.94M | 110.94M | 37.39M | 19.27M | 21.65M | 17.77M |
Cash flow statement
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Net Income | -20.55M | -20.55M | -14.87M | -8.01M | -4.05M | -3.54M |
| Depreciation & Amortization | 5.04M | 5.04M | 4.15M | 4.05M | 3.17M | 3.62M |
| Other Amortization | 58.77K | 51.97K | ||||
| Loss (Gain) From Sale of Assets | -455.09K | -455.09K | 99.33K | 124.58K | -78.37K | 9.23K |
| Stock-Based Compensation | 2.86M | 2.86M | 1.04M | 1.02M | 1.31M | 825.25K |
| Provision & Write-off of Bad Debts | -44.09K | -44.09K | -3.01K | -4.43K | 8.16K | 7.71K |
| Other Operating Activities | 12.57M | 12.57M | 3.27M | 198.27K | 11.72K | 779.51K |
| Change in Accounts Receivable | -5.58M | -5.58M | -2.63M | 1.50M | -1.43M | -562.65K |
| Change in Inventory | -5.06M | -5.06M | -1.39M | 960.74K | -741.60K | 1.22M |
| Change in Accounts Payable | 3.31M | 3.31M | 2.23M | 680.46K | -977.62K | -1.09M |
| Change in Other Net Operating Assets | -2.32M | -2.32M | -234.89K | 2.63K | -97.79K | 147.66K |
| Operating Cash Flow | -10.23M | -10.23M | -8.33M | 521.04K | -2.81M | 1.46M |
| Capital Expenditures | -6.27M | -6.27M | -1.26M | -2.18M | -3.08M | -1.63M |
| Sale of Property, Plant & Equipment | 475.00K | 475.00K | 10.65K | 209.17K | ||
| Cash Acquisitions | -7.00M | -7.00M | -18.49M | -847.14K | ||
| Other Investing Activities | 364.71K | |||||
| Investing Cash Flow | -12.79M | -12.79M | -19.74M | -2.67M | -2.87M | -1.63M |
| Long-Term Debt Issued | 6.66M | 278.93K | 141.25K | 266.85K | ||
| Long-Term Debt Repaid | -5.71M | -5.71M | -391.73K | -2.59M | -1.93M | -893.51K |
| Net Debt Issued (Repaid) | -5.71M | -5.71M | 6.27M | -2.31M | -1.78M | -626.66K |
| Issuance of Common Stock | 120.27M | 120.27M | 455.29K | 846.01K | 9.24M | 51.71K |
| Other Financing Activities | -3.54M | -3.54M | 3.90M | -61.22K | ||
| Financing Cash Flow | 111.02M | 111.02M | 29.30M | -1.47M | 7.46M | -636.17K |
| Foreign Exchange Rate Adjustments | 321.95K | 321.95K | 170.20K | -53.58K | -141.77K | -468.14K |
| Net Cash Flow | 88.33M | 88.33M | 1.40M | -3.66M | 1.64M | -1.27M |
| Free Cash Flow | -16.49M | -16.49M | -9.59M | -1.66M | -5.89M | -162.49K |
| Free Cash Flow Margin | -23.00% | -23.00% | -25.79% | -5.24% | -17.87% | -0.46% |
| Free Cash Flow Per Share | -0.31 | -0.31 | -0.23 | -0.04 | -0.19 | -0.01 |
| Levered Free Cash Flow | -5.04M | -5.04M | -5.00M | 5.26M | -6.37M | 1.27M |
| Unlevered Free Cash Flow | -5.04M | -5.04M | -4.30M | 5.38M | -6.25M | 1.36M |
| Cash Interest Paid | 409.64K | 409.64K | 273.48K | 196.54K | 221.77K | 157.41K |
| Cash Income Tax Paid | 325.64K | 325.64K | 206.12K | 166.86K | 428.91K | 267.58K |
| Change in Working Capital | -9.65M | -9.65M | -2.01M | 3.14M | -3.25M | -285.11K |
Ratios
Fiscal year July - June; amounts in USD.
| TTM | FY2026 | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|---|
| Market Capitalization | 567.29M | 1.08B | 132.13M | 48.90M | 50.39M | 33.27M |
| Enterprise Value | 485.02M | 1.06B | 174.38M | 56.64M | 52.84M | 43.18M |
| Last Close Price | 8.10 | 16.35 | 3.08 | 1.26 | 1.35 | 1.23 |
| Forward PE | 197.00 | 197.00 | 197.00 | 197.00 | 197.00 | |
| PS Ratio | 7.91 | 15.13 | 3.55 | 1.54 | 1.53 | 0.94 |
| PB Ratio | 3.79 | 6.85 | 2.65 | 1.62 | 1.40 | 1.12 |
| P/TBV Ratio | 5.02 | 9.60 | 2.47 | 1.88 | 1.71 | |
| P/OCF Ratio | 93.85 | 22.72 | ||||
| PEG Ratio | 1.66 | 1.66 | 1.66 | 1.66 | 1.66 | |
| EV/Sales Ratio | 6.76 | 14.85 | 4.69 | 1.78 | 1.60 | 1.21 |
| EV/EBITDA Ratio | 566.97 | 1,244.82 | 43.20 | |||
| Debt / Equity Ratio | 0.07 | 0.07 | 0.30 | 0.34 | 0.34 | 0.49 |
| Debt / EBITDA Ratio | 5.24 | 5.24 | 29.69 | 8.83 | ||
| Net Debt / Equity Ratio | -0.52 | -0.52 | 0.21 | 0.23 | 0.21 | 0.31 |
| Net Debt / EBITDA Ratio | -96.18 | -96.18 | -2.10 | -2.33 | -16.79 | 9.22 |
| Net Debt / FCF Ratio | 4.99 | 4.99 | -1.07 | -4.14 | -1.31 | -56.74 |
| Asset Turnover | 0.52 | 0.52 | 0.57 | 0.62 | 0.63 | 0.68 |
| Inventory Turnover | 2.98 | 2.98 | 2.79 | 3.31 | 3.04 | 3.04 |
| Quick Ratio | 4.14 | 4.14 | 0.84 | 1.05 | 1.66 | 1.39 |
| Current Ratio | 4.96 | 4.96 | 1.66 | 1.93 | 3.18 | 2.35 |
| Return on Equity (ROE) | -19.73% | -19.73% | -37.15% | -24.21% | -12.32% | -11.19% |
| Return on Assets (ROA) | -1.90% | -1.90% | -8.74% | -8.62% | -4.36% | -3.11% |
| Return on Invested Capital (ROIC) | -5.77% | -6.14% | -18.64% | -17.35% | -8.80% | -6.55% |
| Return on Capital Employed (ROCE) | -2.50% | -2.50% | -14.10% | -17.50% | -7.80% | -6.10% |
| Earnings Yield | -4.75% | -1.89% | -11.26% | -16.38% | -8.03% | -10.65% |
| FCF Yield | -2.91% | -1.52% | -7.26% | -3.40% | -11.68% | -0.49% |
| Buyback Yield / Dilution | -30.58% | -30.58% | -7.72% | -19.94% | -17.09% | -2.68% |