LightPath Technologies revenue jumps 79% as backlog climbs
The optical components maker reported first-quarter revenue of $15.1 million, a significant increase over the prior year.
LightPath Technologies (LPTH) reported a sharp increase in first-quarter revenue that outpaced prior-year results. The optical components maker saw a trajectory of growth that continued into the start of the 2026 fiscal year, moving from $12.2 million in the fourth quarter of fiscal 2025 to $15.1 million in the first quarter of fiscal 2026.
Revenue for the quarter rose 79% year-over-year to $15.1 million, compared to $8.4 million in the same period last year. Gross profit followed a similar upward trend, increasing 58% to $4.5 million from $2.8 million in the prior-year quarter.
Profitability metrics were mixed. Adjusted EBITDA improved to $0.4 million, reversing a loss of $(0.2) million in the first quarter of fiscal 2025. However, the company's net loss widened to $(2.9) million, a 78% increase from the $(1.6) million loss reported in the previous year.
Demand for the company's products remained strong. The order backlog stood at $86 million at the end of the first quarter. That figure grew to over $90 million by November 2025.
LightPath signed a definitive agreement to divest its China-based subsidiary, LightPath (Zhenjiang) Optical Instrumentation Co., Ltd., for $4.5 million to be paid in installments over five years. The divestiture will result in the loss of approximately $4.5 million in average annual revenue from third-party customers.
To support working capital and acquisitions, the company announced a proposed public offering of Class A common stock in December 2025. This followed an $8.0 million strategic investment secured from Ondas Holdings and Unusual Machines in September 2025.