Lightpath | 10-Q: FY2026 Q1 Revenue Beats Estimate at USD 15.06 M

Revenue: As of FY2026 Q1, the actual value is USD 15.06 M, beating the estimate of USD 12.66 M.

EPS: As of FY2026 Q1, the actual value is USD -0.07, missing the estimate of USD -0.06.

EBIT: As of FY2026 Q1, the actual value is USD -2.237 M.

Revenue by Product Group

• Infrared Components: $4,257,955 for the three months ended September 30, 2025, an increase of 63% compared to the same period in 2024.
• Visible Components: $3,838,306 for the three months ended September 30, 2025, an increase of 16% compared to the same period in 2024.
• Assemblies and Modules: $5,859,498 for the three months ended September 30, 2025, an increase of 436% compared to the same period in 2024.
• Engineering Services: $1,102,522 for the three months ended September 30, 2025, a decrease of 21% compared to the same period in 2024.

Gross Profit

• Gross Profit: $4,482,572 for the three months ended September 30, 2025, an increase of 58% compared to the same period in 2024.
• Gross Margin: 30% for the three months ended September 30, 2025, compared to 34% for the same period in 2024.

Operating Expenses

• Selling, General and Administrative (SG&A): $4,383,870 for the three months ended September 30, 2025, an increase of 34% compared to the same period in 2024.
• New Product Development: $867,428 for the three months ended September 30, 2025, an increase of 82% compared to the same period in 2024.
• Amortization of Intangibles: $450,524 for the three months ended September 30, 2025, an increase compared to the same period in 2024.

Other Income (Expense)

• Interest Expense, Net: $268,853 for the three months ended September 30, 2025, an increase compared to the same period in 2024.
• Other Expense, Net: $37,101 for the three months ended September 30, 2025, compared to $80,941 for the same period in 2024.

Net Loss

• Net Loss: $2,893,002 for the three months ended September 30, 2025, compared to $1,622,745 for the same period in 2024.
• Loss Per Share (Basic and Diluted): $0.07 for the three months ended September 30, 2025, compared to $0.04 for the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: $1,142,842 for the three months ended September 30, 2025, compared to $1,700,201 for the same period in 2024.
• Net Cash Used in Investing Activities: $77,014 for the three months ended September 30, 2025, compared to $69,084 for the same period in 2024.
• Net Cash Provided by Financing Activities: $7,781,540 for the three months ended September 30, 2025, compared to $2,488,233 for the same period in 2024.

Future Outlook and Strategy

• Core Business Focus: The company aims to transition from a pure component manufacturer to a supplier of imaging subsystems and systems, leveraging core technological differentiators such as BlackDiamond glass and proprietary molding technologies. This transition is expected to drive significant growth and higher profitability in the coming years.
• Non-Core Business: The company is actively working with customers to redesign systems to use BlackDiamond materials instead of Germanium-based materials, in response to China’s export limitations on Germanium and Gallium.
• Priority: The company anticipates that existing annual and multi-year contracts will be renewed in future quarters, contributing to the significant increase in backlog observed in the first quarter of fiscal 2026.