Lightpath Technologies (LPTH) AI Stock Analysis

• Market Cap: $154.44M
• Dividend Yield: N/A
• Average Volume (3M): 192.80K
• Price to Earnings (P/E): ―
• Beta (1Y): 0.81
• Revenue Growth: 2.59%
• EPS Growth: -48.02%
• Country: US
• Employees: 304
• Sector: Technology
• Sector Strength: 94
• Industry: Hardware, Equipment & Parts
• EPS (TTM): -0.09
• Shares Outstanding: 42,898,937
• 10 Day Avg. Volume: 285,482
• 30 Day Avg. Volume: 192,797
• PEG Ratio: N/A
• Price to Book (P/B): 0.00
• Price to Sales (P/S): 0.00
• P/FCF Ratio: 0.00
• Enterprise Value/Market Cap: 0.81
• Enterprise Value/Revenue: 3.73
• Enterprise Value/Gross Profit: 12.58
• Enterprise Value/Ebitda: -24.48
• 1Y Price Target: $4.38
• Price Target Upside: 19.02% Upside
• Rating Consensus: Strong Buy
• Number of Analyst Covering: 4

• Rating: 47 Neutral
• Price Target: $3.00 ▼(-18.48% Downside)

Lightpath Technologies faces significant financial hurdles, with ongoing net losses and cash flow issues being the most critical factors. While technical analysis and valuation metrics are not favorable, strategic initiatives and corporate events provide some offsetting positives. The company's recent earnings call reflected growth and strategic progress, but these are tempered by increased expenses and net losses.

Positive Factors

Acquisition Impact

The acquisition of G5 Infrared has led to meaningful contract awards, suggesting a powerful long-term tailwind for LightPath.

Product Demand

The demand for LightPath's Germanium-free BlackDiamond infrared imaging solutions is increasing due to supply chain issues with competing Germanium-based solutions.

Revenue Growth

Revenue growth is driven by a combination of organic demand and the recent acquisition of G5 Infrared.

Negative Factors

Export Restrictions

Softer revenue was due to new restrictions in the exporting germanium from China, which were announced in December and are likely to remain a headwind near term.

Financial Performance

Slightly lower revenue, lower gross margin, and higher operating expense resulted in an adjusted EBITDA loss significantly below estimates.

Stock Reaction

The stock's reaction, declining 19%, is believed to be due to the changes in the capital structure rather than the acquisition or financial results.

Lightpath Technologies Business Overview & Revenue Model

Company Description

Lightpath Technologies (LPTH) is a leading provider in the field of optics and photonics, specializing in the design, manufacture, and distribution of precision molded glass aspheric optics, infrared optics, and custom optical assemblies. The company serves various markets, including industrial, defense, telecommunications, and medical sectors, providing advanced optical solutions to enhance the performance of complex systems.

How the Company Makes Money

Lightpath Technologies generates revenue through the sale of its optical products and solutions. The company earns income by supplying precision molded glass optics, infrared optics, and custom-designed optical assemblies to its diverse clientele across multiple industries. Revenue streams include direct sales to OEMs (Original Equipment Manufacturers), as well as through distribution channels. Additionally, Lightpath Technologies may engage in strategic partnerships and collaborations that can lead to additional revenue opportunities, such as joint ventures or co-development agreements. The company's ability to innovate and provide high-quality, reliable optical products contributes significantly to its financial performance.

Lightpath Technologies Financial Statement Overview

Summary

Lightpath Technologies is facing significant financial challenges, with declining revenues and negative profitability. The income statement shows deteriorating gross profit margins and significant negative EBIT and net income. The balance sheet reflects moderate leverage but negative returns on equity. Cash flow is negative, indicating liquidity risks.

Income Statement

Lightpath Technologies has experienced declining revenues and negative profitability metrics. The TTM (Trailing-Twelve-Months) data shows significant negative EBIT and net income, indicating challenges in operational efficiency and cost management. The company's gross profit margin has also deteriorated, suggesting rising costs or pricing pressures.

Balance Sheet

The balance sheet shows a moderate debt-to-equity ratio, which indicates some leverage but not excessively high. However, the return on equity is negative due to consistent net losses, which is concerning for investors seeking returns. The equity ratio is relatively stable, reflecting a decent proportion of assets funded by equity.

Cash Flow

The cash flow statement reveals negative operating and free cash flow, indicating that the company is burning cash, which could pose liquidity risks. The operating cash flow to net income ratio is unfavorable, reinforcing the company's struggles to generate cash from operations relative to its net losses.

Breakdown	TTM	Jun 2024	Jun 2023	Jun 2022	Jun 2021	Jun 2020
Income Statement
Total Revenue	33.63M	31.73M	32.93M	35.56M	38.46M	34.97M
Gross Profit	9.96M	8.63M	11.07M	11.81M	13.45M	13.84M
EBITDA	-5.12M	-3.70M	-355.00K	1.17M	1.47M	5.39M
Net Income	-10.15M	-8.01M	-4.05M	-3.54M	-3.19M	866.93K
Balance Sheet
Total Assets	81.42M	48.09M	53.54M	50.71M	54.61M	47.57M
Cash, Cash Equivalents and Short-Term Investments	6.48M	3.48M	4.69M	5.51M	6.77M	5.39M
Total Debt	14.33M	10.36M	12.38M	14.73M	14.23M	7.63M
Total Liabilities	31.30M	17.89M	17.58M	20.98M	21.03M	13.01M
Stockholders Equity	50.12M	30.20M	35.95M	29.73M	33.58M	34.57M
Cash Flow
Free Cash Flow	-6.49M	-1.66M	-5.89M	-162.49K	1.57M	1.29M
Operating Cash Flow	-5.62M	521.04K	-2.81M	1.46M	4.73M	3.73M
Investing Cash Flow	-21.11M	-2.67M	-2.87M	-1.63M	-3.16M	-2.26M
Financing Cash Flow	30.18M	-1.47M	7.46M	-636.17K	-843.43K	-621.71K

Lightpath Technologies Technical Analysis

• Technical Analysis Sentiment: Positive
• Last Price: 3.68
• 50DMA: Positive
• 100DMA: Positive
• 200DMA: Positive
• MACD: Negative
• RSI: Neutral
• STOCH: Negative

Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For LPTH, the sentiment is Positive. The current price of 3.68 is above the 20-day moving average (MA) of 3.26, above the 50-day MA of 3.09, and above the 200-day MA of 2.52, indicating a bullish trend. The MACD of 0.11 indicates Negative momentum. The RSI at 68.98 is Neutral, neither overbought nor oversold. The STOCH value of 82.86 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for LPTH.

Lightpath Technologies Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
MPTI	80 Outperform	$128.33M	16.67	28.36%	―	19.05%	114.23%
Sector *	61 Neutral	$34.83B	4.75	-10.43%	2.08%	6.55%	-10.00%
RELL	60 Neutral	$139.16M	303.10	-0.73%	2.49%	6.34%	-31.68%
LINK	51 Neutral	$64.12M	―	-18.75%	―	-18.62%	-112.68%
MEI	49 Neutral	$216.87M	―	-8.58%	7.70%	-5.96%	49.33%
LPTH	47 Neutral	$154.44M	―	-24.86%	―	2.59%	-48.02%
GNSS	41 Neutral	$74.05M	―	-131.75%	―	-20.77%	-2.08%

Lightpath Technologies Corporate Events

Lightpath Technologies Approves Key Proposals in Stockholder Meeting

On June 16, 2025, LightPath Technologies held a Special Meeting of Stockholders where several key proposals were approved. The stockholders approved the issuance of shares of Class A Common Stock related to the acquisition of G5 Infrared, LLC and the conversion of Series G Preferred Stock. Additionally, amendments to the 2018 Stock Incentive Compensation Plan and the adoption of the 2025 Employee Stock Purchase Plan were also approved, indicating strategic moves to enhance employee engagement and expand the company’s capital structure.

The most recent analyst rating on (LPTH) stock is a Buy with a $4.00 price target. To see the full list of analyst forecasts on Lightpath Technologies stock, see the LPTH Stock Forecast page.