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LightPath Technologies (LPTH) Financials

LightPath Technologies logo
$9.98 -0.08 (-0.80%)
As of 09/25/2026 04:00 PM Eastern
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Annual Income Statements for LightPath Technologies

Annual Income Statements for LightPath Technologies

This table shows LightPath Technologies' income and expenses over time, based on annual financial data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025 6/30/2026
Total Costs & Expenses		 - - - - - - - - - 22 45
Net Income / (Loss) Attributable to Common Shareholders		 1.41 7.70 1.06 -2.68 0.87 -3.19 -3.54 -4.05 -8.01 -14 -20
Consolidated Net Income / (Loss)		 1.41 7.70 1.06 -2.68 0.87 -3.19 -3.54 -4.05 -8.01 -15 -21
Net Income / (Loss) Continuing Operations		 1.41 7.70 1.06 -2.68 0.87 -3.19 -3.54 -4.05 -8.01 -15 -21
Total Pre-Tax Income 		1.61 3.36 0.23 -2.23 1.63 -2.25 -2.68 -3.81 -7.94 -15 -20
Total Operating Income		 2.01 4.14 0.37 -1.14 2.15 -1.84 -2.63 -3.55 -7.83 -12 -20
Total Gross Profit		 9.30 15 13 13 14 13 12 11 8.63 10 26
Total Revenue		 17 28 33 34 35 38 36 33 32 37 72
Operating Revenue		 17 28 33 34 35 38 36 33 32 37 72
Total Cost of Revenue		 7.97 14 20 21 21 25 24 22 23 27 46
Operating Cost of Revenue		 7.97 14 20 21 21 25 24 22 23 27 46
Total Operating Expenses		 7.30 11 12 14 12 15 14 15 16 22 45
Selling, General & Admin Expense		 6.58 8.65 9.22 10 8.96 12 11 11 12 16 25
Research & Development Expense		 0.67 1.24 1.62 2.02 1.71 2.17 2.09 2.15 2.40 3.06 3.78
Amortization Expense		 - 0.69 1.32 1.22 1.13 1.13 1.13 1.13 1.64 1.41 1.83
Other Special Charges / (Income)		 0.05 0.00 -0.00 -0.08 -0.11 0.01 - - 0.12 1.66 15
Total Other Income / (Expense), net		 -0.40 -0.78 -0.14 -1.09 -0.51 -0.41 -0.05 -0.26 -0.11 -3.01 -0.58
Interest Expense		 0.04 0.41 0.19 0.70 0.34 0.22 0.23 0.28 0.19 0.42 0.51
Interest & Investment Income		 - - - - - - - - - -1.12 0.02
Other Income / (Expense), net		 -0.36 -0.36 0.05 -0.39 -0.17 -0.19 0.18 0.02 0.08 -1.48 -0.09
Income Tax Expense		 0.20 -4.34 -0.83 0.46 0.76 0.93 0.86 0.23 0.07 0.04 0.31
Other Adjustments to Net Income / (Loss) Attributable to Common Shareholders)		 - - - - - - - - - -0.47 -0.33
Basic Earnings per Share		 $0.09 $0.39 $0.04 ($0.10) $0.03 ($0.12) ($0.13) - ($0.21) ($0.36) ($0.38)
Weighted Average Basic Shares Outstanding		 15.40M 20.00M 25.01M 25.79M 25.85M 26.31M 27.02M 31.64M 37.94M 40.87M 53.37M
Diluted Earnings per Share		 $0.08 $0.36 $0.04 ($0.10) $0.03 ($0.12) ($0.13) - ($0.21) ($0.36) ($0.38)
Weighted Average Diluted Shares Outstanding		 16.88M 21.67M 26.81M 25.79M 27.47M 26.31M 27.02M 31.64M 37.94M 40.87M 53.37M
Weighted Average Basic & Diluted Shares Outstanding		 15.63M 24.25M 25.77M 25.83M 26.01M 26.99M 27.02M 31.64M 37.94M 44.67M 70.04M

Quarterly Income Statements for LightPath Technologies

This table shows LightPath Technologies' income and expenses over time, based on quarterly financial data. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Income / (Loss) Attributable to Common Shareholders		 -1.71 -2.60 -2.35 -1.62 -3.06 -3.46 -7.06 -2.89 -9.19 -4.10 -4.03
Consolidated Net Income / (Loss)		 -1.71 -2.60 -2.35 -1.62 -2.61 -3.58 -7.06 -2.89 -9.41 -4.11 -4.14
Net Income / (Loss) Continuing Operations		 -1.71 -2.60 -2.35 -1.62 -2.61 -3.58 -7.06 -2.89 -9.41 -4.11 -4.14
Total Pre-Tax Income 		-1.64 -2.59 -2.41 -1.61 -2.57 -3.48 -7.18 -2.81 -9.37 -4.01 -4.03
Total Operating Income		 -1.78 -2.58 -2.21 -1.38 -2.48 -3.45 -4.64 -2.51 -8.60 -4.25 -4.30
Total Gross Profit		 2.17 1.61 2.53 2.84 1.93 2.66 2.69 4.48 6.02 6.96 8.35
Total Revenue		 7.32 7.70 8.63 8.40 7.42 9.17 12 15 16 19 21
Operating Revenue		 7.32 7.70 8.63 8.40 7.42 9.17 12 15 16 19 21
Total Cost of Revenue		 5.15 6.09 6.11 5.56 5.49 6.50 9.52 11 10 12 13
Operating Cost of Revenue		 5.15 6.09 6.11 5.56 5.49 6.50 9.52 11 10 12 13
Total Operating Expenses		 3.95 4.19 4.73 4.22 4.42 6.12 7.33 6.99 15 11 13
Selling, General & Admin Expense		 2.86 3.17 3.61 3.27 3.36 4.45 4.74 4.38 5.86 6.30 8.12
Research & Development Expense		 0.61 0.57 0.58 0.48 0.76 0.76 1.06 0.87 0.75 1.04 1.13
Amortization Expense		 0.49 0.43 0.43 0.40 0.29 0.78 -0.05 0.45 0.45 0.48 0.46
Other Special Charges / (Income)		 - - - 0.08 0.00 0.13 - 0.00 7.56 3.39 4.23
Total Other Income / (Expense), net		 0.15 -0.01 -0.20 -0.23 -0.08 -0.03 -2.54 -0.31 -0.78 0.24 0.27
Interest Expense		 0.05 0.04 0.04 0.15 0.17 0.42 0.31 0.27 0.79 0.00 -0.55
Other Income / (Expense), net		 0.20 0.03 -0.16 -0.08 0.09 0.88 -2.23 -0.04 0.01 -0.03 -0.03
Income Tax Expense		 0.08 0.01 -0.05 0.02 0.04 0.10 -0.12 0.08 0.03 0.09 0.11
Basic Earnings per Share		 - - - ($0.04) ($0.07) ($0.09) - ($0.07) ($0.20) ($0.07) ($0.04)
Weighted Average Basic Shares Outstanding		 37.50M 37.99M 37.94M 39.56M 39.73M 41.36M 40.87M 43.29M 47.00M 58.63M 53.37M
Diluted Earnings per Share		 - - - ($0.04) ($0.07) ($0.09) - ($0.07) ($0.20) ($0.07) ($0.04)
Weighted Average Diluted Shares Outstanding		 37.50M 37.99M 37.94M 39.56M 39.73M 41.36M 40.87M 43.29M 47.00M 58.63M 53.37M
Weighted Average Basic & Diluted Shares Outstanding		 37.50M 37.99M 37.94M 39.56M 39.73M 41.36M 44.67M 45.43M 57.71M 62.79M 70.04M

Annual Cash Flow Statements for LightPath Technologies

This table details how cash moves in and out of LightPath Technologies' business through operations, investing, and financing, using annual figures. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025 6/30/2026
Net Change in Cash & Equivalents		 1.26 5.18 -1.58 -1.90 0.78 1.39 -2.55 9.73 -3.66 1.23 88
Net Cash From Operating Activities		 1.53 5.00 2.62 0.41 3.73 4.73 1.46 -2.81 0.52 -8.33 -10
Net Cash From Continuing Operating Activities		 1.53 5.00 2.62 0.41 3.73 11 0.18 5.28 0.52 -8.33 -10
Net Income / (Loss) Continuing Operations		 1.41 7.70 1.06 -2.68 0.87 3.19 -3.54 4.05 -8.01 -15 -21
Consolidated Net Income / (Loss)		 1.41 7.70 1.06 -2.68 0.87 3.19 -3.54 4.05 -8.01 -15 -21
Depreciation Expense		 0.85 2.08 3.40 3.46 3.42 3.51 3.62 3.17 4.05 4.15 5.04
Amortization Expense		 - 0.01 0.02 0.12 0.02 0.02 -0.05 0.06 0.00 0.29 0.18
Non-Cash Adjustments To Reconcile Net Income		 0.48 0.90 0.26 0.44 0.29 0.77 1.50 1.56 1.28 2.78 -0.76
Changes in Operating Assets and Liabilities, net		 -1.22 -5.70 -2.13 -0.93 -0.87 3.62 -1.35 -3.55 3.20 -0.67 5.87
Net Cash From Investing Activities		 -1.13 -14 -2.52 -1.25 -2.26 -3.16 -1.63 -2.87 -2.67 -20 -13
Net Cash From Continuing Investing Activities		 -1.13 -14 -2.52 -1.25 -2.26 -3.16 -1.63 -2.87 -2.67 -20 -13
Purchase of Property, Plant & Equipment		 -1.13 -2.22 -2.52 -1.93 -2.44 -3.16 -1.63 -3.08 -2.18 -1.26 -6.27
Acquisitions		 - -12 - - - - - 0.00 -0.85 -18 -7.00
Sale of Property, Plant & Equipment		 0.01 - 0.00 0.68 0.19 - 0.00 0.00 0.00 0.01 0.48
Net Cash From Financing Activities		 0.24 14 -1.31 -1.40 -0.62 -0.84 -0.64 7.46 -1.47 29 111
Net Cash From Continuing Financing Activities		 0.24 14 -1.31 -1.40 -0.62 -0.84 -0.64 7.46 -1.47 29 111
Repayment of Debt		 -0.18 -0.27 -5.07 -7.27 -0.58 -1.29 -0.95 -1.93 -0.13 -0.80 -5.71
Issuance of Debt		 - 5.00 2.94 5.81 0.40 0.28 0.27 0.14 0.28 6.66 0.00
Issuance of Preferred Equity		 - - - - - - - - 0.00 19 0.00
Issuance of Common Equity		 0.02 8.77 0.05 0.04 0.02 0.03 0.05 9.24 0.85 5.07 120
Other Financing Activities, net		 0.40 0.71 0.76 0.01 -0.46 0.14 - - -2.46 -0.31 -3.52
Cash Interest Paid		 0.04 0.33 0.55 0.50 0.33 0.20 0.16 0.22 0.20 0.27 0.41
Cash Income Taxes Paid		 0.00 0.68 0.39 0.41 0.53 1.05 0.27 0.43 0.17 0.21 0.33

Quarterly Cash Flow Statements for LightPath Technologies

This table details how cash moves in and out of LightPath Technologies' business through operations, investing, and financing, using quarterly figures. All values are USD millions unless otherwise specified.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
Net Change in Cash & Equivalents		 -0.98 -2.72 0.32 0.80 -1.00 3.28 -1.60 6.63 62 -18 38
Net Cash From Operating Activities		 -0.29 -0.39 0.06 -1.70 -0.74 -3.24 -2.65 -1.14 2.82 -6.80 -5.11
Net Cash From Continuing Operating Activities		 -0.28 -0.40 0.06 -1.70 -0.74 -3.24 -2.65 -1.14 2.82 -6.80 -5.11
Net Income / (Loss) Continuing Operations		 -1.71 -2.60 -2.35 -1.62 -2.61 -3.58 -7.06 -2.89 -9.41 -4.11 -4.14
Consolidated Net Income / (Loss)		 -1.71 -2.60 -2.35 -1.62 -2.61 -3.58 -7.06 -2.89 -9.41 -4.11 -4.14
Depreciation Expense		 1.13 1.04 1.06 0.99 0.90 1.46 0.79 1.22 1.24 1.26 1.32
Non-Cash Adjustments To Reconcile Net Income		 0.47 0.16 0.41 0.34 0.32 0.71 0.32 1.58 -0.36 -3.25 1.27
Changes in Operating Assets and Liabilities, net		 -0.17 1.00 0.95 -1.45 0.57 -1.88 3.17 -1.14 11 -0.70 -3.56
Net Cash From Investing Activities		 -0.68 -0.53 -0.29 -0.07 -0.08 -21 1.08 -0.08 -0.87 -7.90 -3.95
Net Cash From Continuing Investing Activities		 -0.68 -0.53 -0.29 -0.07 -0.08 -21 1.08 -0.08 -0.87 -7.90 -3.95
Purchase of Property, Plant & Equipment		 -0.53 -0.41 -0.29 -0.08 -0.08 -0.42 -0.68 -0.08 -0.87 -0.90 -4.42
Sale of Property, Plant & Equipment		 -0.36 - - 0.01 - - - 0.00 - - 0.48
Net Cash From Financing Activities		 -0.09 -1.77 0.60 2.49 -0.10 27 -0.28 7.78 60 -3.69 47
Net Cash From Continuing Financing Activities		 -0.09 -1.77 0.60 2.49 -0.10 27 -0.28 7.78 60 -3.69 47
Repayment of Debt		 0.17 -0.03 -0.04 -0.40 -0.01 -0.34 -0.05 -0.11 -5.41 -0.09 -0.10
Issuance of Common Equity		 - 0.12 0.71 0.01 - 5.06 - 7.89 65 -0.07 47
Cash Interest Paid		 0.05 0.05 0.03 0.02 0.02 0.03 0.21 0.18 0.20 0.02 0.02
Cash Income Taxes Paid		 0.08 0.01 0.05 0.02 0.04 0.06 0.09 0.06 0.11 0.02 0.13

Annual Balance Sheets for LightPath Technologies

This table presents LightPath Technologies' assets and liabilities at the end of each period, using annual balance sheet data. All values are USD millions unless otherwise specified.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025 6/30/2026
Total Assets		 16 47 47 46 48 55 51 54 48 82 194
Total Current Assets		 11 20 19 20 21 21 18 22 16 28 130
Cash & Equivalents		 2.91 8.09 5.51 4.60 5.39 6.77 5.51 4.69 3.48 4.88 93
Accounts Receivable		 3.76 5.92 5.42 6.56 6.32 4.79 5.21 6.63 4.93 9.46 15
Inventories, net		 3.84 5.07 6.40 7.68 8.98 8.66 6.99 7.41 6.55 13 18
Prepaid Expenses		 0.65 0.64 1.06 0.75 0.57 0.48 0.46 0.57 0.45 1.14 3.46
Other Current Assets		 - - - - - - - 0.00 0.13 0.04 0.12
Plant, Property, & Equipment, net		 4.37 10 12 12 12 13 12 13 15 0.00 19
Total Noncurrent Assets		 0.07 17 16 15 15 21 21 19 17 53 45
Goodwill		 - 5.85 5.85 5.85 5.85 5.85 5.85 5.85 6.76 14 19
Intangible Assets		 - 10 9.06 7.84 6.71 5.58 4.46 3.33 3.65 16 17
Noncurrent Deferred & Refundable Income Taxes		 - 0.29 0.62 0.65 0.66 0.15 0.14 0.14 0.12 0.02 0.09
Other Noncurrent Operating Assets		 0.07 0.11 0.38 0.29 1.30 9.04 10 9.64 6.80 23 8.21
Total Liabilities & Shareholders' Equity		 16 47 47 46 48 55 51 54 48 82 194
Total Liabilities		 4.66 17 12 13 13 21 21 18 18 32 36
Total Current Liabilities		 3.21 5.75 5.80 6.36 7.40 8.45 7.73 6.83 8.04 17 26
Short-Term Debt		 0.17 1.35 1.77 0.58 0.98 0.85 1.00 1.02 0.21 0.17 0.11
Accounts Payable		 1.36 1.54 2.03 2.23 2.56 2.92 3.07 2.57 3.23 7.42 7.69
Accrued Expenses		 0.33 0.97 0.69 1.34 0.99 1.07 0.56 0.66 1.91 5.69 13
Current Employee Benefit Liabilities		 1.36 1.90 1.23 1.73 1.83 2.81 2.08 1.50 1.45 2.36 4.14
Other Current Liabilities		 - - - 0.40 1.04 0.80 1.02 1.07 1.24 1.46 1.46
Total Noncurrent Liabilities		 1.44 11 5.96 6.16 5.60 13 13 11 9.85 15 9.38
Capital Lease Obligations		 0.18 0.14 0.55 - 0.28 0.07 0.01 0.34 0.53 0.42 0.39
Noncurrent Deferred & Payable Income Tax Liabilities		 - 0.18 - - - 0.00 0.54 0.47 0.33 0.15 0.10
Other Noncurrent Operating Liabilities		 0.72 0.49 - 0.64 0.89 8.46 9.48 8.39 8.67 9.15 8.89
Commitments & Contingencies		 - - - - - - - - - 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - - - 34 8.91
Total Equity & Noncontrolling Interests		 11 30 35 33 35 34 30 36 30 16 149
Total Preferred & Common Equity		 11 30 35 33 35 34 30 36 30 16 149
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 11 30 35 33 35 34 30 36 30 16 149
Common Stock		 215 226 230 231 231 232 233 243 246 245 399
Retained Earnings		 -204 -196 -195 -198 -197 -200 -204 -208 -216 -231 -251
Accumulated Other Comprehensive Income / (Loss)		 0.13 0.30 0.47 0.81 0.74 2.12 0.94 0.61 0.51 0.98 1.31

Quarterly Balance Sheets for LightPath Technologies

This table presents LightPath Technologies' assets and liabilities at the end of each period, using quarterly balance sheet data. All values are USD millions unless otherwise specified.

Metric Q1 2024 Q2 2024 Q3 2024 Q1 2025 Q2 2025 Q3 2025 Q1 2026 Q2 2026 Q3 2026
Period end date 9/30/2023 12/31/2023 3/31/2024 9/30/2024 12/31/2024 3/31/2025 9/30/2025 12/31/2025 3/31/2026
Total Assets		 55 54 50 48 46 81 87 149 144
Total Current Assets		 20 19 16 17 16 28 35 97 83
Cash & Equivalents		 4.32 3.54 3.01 4.28 3.20 6.48 12 74 55
Accounts Receivable		 5.05 4.71 4.66 5.20 5.28 7.65 9.59 8.58 11
Inventories, net		 7.50 7.52 6.83 6.79 6.43 13 13 13 13
Prepaid Expenses		 0.56 0.48 0.48 0.54 0.65 1.21 1.18 1.33 3.44
Other Current Assets		 - 0.19 0.42 0.00 0.09 0.06 0.01 0.02 0.19
Plant, Property, & Equipment, net		 16 16 16 15 14 15 15 0.00 16
Total Noncurrent Assets		 20 19 18 17 16 38 37 52 45
Goodwill		 8.92 6.76 6.76 6.76 6.76 9.74 14 14 19
Intangible Assets		 3.05 4.52 4.09 3.25 2.96 21 16 15 18
Noncurrent Deferred & Refundable Income Taxes		 0.14 0.14 0.14 0.12 0.12 0.12 0.02 0.02 0.02
Other Noncurrent Operating Assets		 7.64 7.50 7.23 6.57 6.28 6.54 7.78 23 8.51
Total Liabilities & Shareholders' Equity		 55 54 50 48 46 81 87 149 144
Total Liabilities		 20 20 18 19 19 31 32 36 31
Total Current Liabilities		 8.52 9.73 7.75 9.74 10 12 18 24 22
Short-Term Debt		 1.27 2.14 0.32 2.96 3.02 0.19 0.14 0.12 0.11
Accounts Payable		 2.91 2.90 2.80 2.66 3.11 5.74 5.50 5.98 6.03
Accrued Expenses		 1.74 1.99 1.88 1.41 1.45 3.08 8.23 14 11
Current Employee Benefit Liabilities		 1.48 1.46 1.48 1.49 1.45 1.75 2.34 2.50 3.13
Other Current Liabilities		 1.13 1.24 1.26 1.21 1.20 1.48 1.54 1.57 1.45
Total Noncurrent Liabilities		 12 11 10 9.26 8.90 53 48 12 9.85
Long-Term Debt		 1.24 0.33 0.28 0.28 0.22 4.69 4.87 0.14 0.10
Noncurrent Deferred & Payable Income Tax Liabilities		 0.47 0.47 0.47 0.33 0.32 1.50 0.15 0.09 0.09
Other Noncurrent Operating Liabilities		 9.85 9.50 8.93 8.15 7.85 47 43 11 9.66
Commitments & Contingencies		 - - - - - - - 0.00 0.00
Redeemable Noncontrolling Interest		 - - - - - - - 34 24
Total Equity & Noncontrolling Interests		 35 34 32 29 27 16 21 78 89
Total Preferred & Common Equity		 35 34 32 29 27 16 21 78 89
Preferred Stock		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Total Common Equity		 35 34 32 29 27 16 21 78 89
Common Stock		 244 244 245 246 246 239 254 320 335
Retained Earnings		 -209 -211 -213 -217 -220 -224 -234 -243 -247
Accumulated Other Comprehensive Income / (Loss)		 0.48 0.74 0.63 0.78 0.33 0.45 1.07 1.28 1.29

Annual Metrics And Ratios for LightPath Technologies

This table displays calculated financial ratios and metrics derived from LightPath Technologies' official financial filings.

Metric 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026
Period end date 6/30/2016 6/30/2017 6/30/2018 6/30/2019 6/30/2020 6/30/2021 6/30/2022 6/30/2023 6/30/2024 6/30/2025 6/30/2026
DEI Shares Outstanding		 15,590,945.00 24,115,733.00 25,730,544.00 25,813,895.00 25,862,529.00 26,565,926.00 27,046,790.00 37,325,850.00 38,807,432.00 42,898,936.00 62,789,407.00
DEI Adjusted Shares Outstanding		 15,590,945.00 24,115,733.00 25,730,544.00 25,813,895.00 25,862,529.00 26,565,926.00 27,046,790.00 37,325,850.00 38,807,432.00 42,898,936.00 62,789,407.00
DEI Earnings Per Adjusted Shares Outstanding		 0.09 0.32 0.04 -0.10 0.03 -0.12 -0.13 -0.11 -0.21 -0.35 -0.32
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 26.43% 64.24% 14.66% 3.76% 3.61% 10.00% -7.55% -7.38% -3.67% 17.26% 92.79%
EBITDA Growth		 2,007.99% 134.58% -34.45% -46.57% 163.63% -72.44% -25.20% -126.54% -1,148.90% -139.61% -63.82%
EBIT Growth		 342.37% 128.59% -88.88% -463.83% 228.95% -203.33% -20.33% -44.08% -119.52% -71.64% -48.44%
NOPAT Growth		 1,072.79% 438.22% -82.07% -146.95% 242.90% -213.06% -42.64% -35.30% -120.19% -51.06% -66.24%
Net Income Growth		 297.77% 444.54% -86.24% -352.84% 132.34% -467.42% -11.21% -14.25% -97.87% -85.74% -38.14%
EPS Growth		 260.00% 350.00% -88.89% -350.00% 130.00% -500.00% -8.33% 0.00% 0.00% -71.43% -5.56%
Operating Cash Flow Growth		 1,756.51% 227.65% -47.61% -84.30% 807.82% 26.77% -69.06% -291.89% 118.55% -1,699.00% -22.73%
Free Cash Flow Firm Growth		 134.99% -5,608.50% 89.94% 168.71% -33.53% 159.75% -18.27% -488.42% 73.29% 317.17% 5.76%
Invested Capital Growth		 21.58% 294.97% 9.77% -5.10% 1.28% -8.90% -10.45% 11.50% -12.42% -41.81% 30.47%
Revenue Q/Q Growth		 1.33% 17.74% -2.75% 1.99% 1.05% -1.97% 1.64% 2.42% -3.21% 10.63% 14.26%
EBITDA Q/Q Growth		 52.61% 40.78% -40.39% 2.43% 52.77% -70.73% 230.40% 15.30% -59.34% -110.21% 16.85%
EBIT Q/Q Growth		 86.87% 40.57% -86.44% 2.46% 13,600.27% -224.67% 46.26% 0.12% -26.48% -51.15% 11.39%
NOPAT Q/Q Growth		 -9.05% 304.00% -71.12% -104.37% 278.26% -459.47% 42.71% -0.51% -21.92% -25.86% 1.05%
Net Income Q/Q Growth		 97.60% 361.14% -87.12% -55.30% 155.87% -927.53% 30.49% 11.98% -23.91% -46.23% 12.43%
EPS Q/Q Growth		 300.00% 260.00% -88.89% -66.67% 150.00% 0.00% 27.78% 0.00% 0.00% 0.00% 24.00%
Operating Cash Flow Q/Q Growth		 -23.06% 55.21% -44.76% 1,580.36% 65.53% -4.20% -27.09% -1,569.85% 136.37% -48.33% -31.66%
Free Cash Flow Firm Q/Q Growth		 -83.62% 11.35% 58.82% 304.45% -75.37% 1,376.12% -66.21% -111.26% 75.86% -60.99% 49.09%
Invested Capital Q/Q Growth		 4.58% 20.19% -2.20% -7.50% 0.54% -9.71% 3.11% 13.93% -6.52% 10.87% 13.63%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 53.87% 51.89% 38.52% 37.09% 39.59% 34.96% 33.23% 33.63% 27.21% 27.23% 35.98%
EBITDA Margin		 14.47% 20.67% 11.82% 6.08% 15.48% 3.88% 3.14% -0.90% -11.66% -23.83% -20.25%
Operating Margin		 11.63% 14.58% 1.15% -3.38% 6.13% -4.79% -7.39% -10.79% -24.67% -31.78% -27.40%
EBIT Margin		 9.56% 13.31% 1.29% -4.53% 5.63% -5.29% -6.89% -10.72% -24.42% -35.75% -27.52%
Profit (Net Income) Margin		 8.19% 27.15% 3.26% -7.94% 2.48% -8.28% -9.96% -12.29% -25.24% -39.98% -28.65%
Tax Burden Percent		 87.65% 229.14% 454.93% 120.46% 53.16% 141.48% 132.21% 106.14% 100.85% 100.25% 101.56%
Interest Burden Percent		 97.72% 89.05% 55.49% 145.62% 82.77% 110.58% 109.37% 108.03% 102.48% 111.56% 102.48%
Effective Tax Rate		 12.35% -129.14% -354.93% 0.00% 46.84% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 23.09% 45.77% 4.90% -2.26% 3.29% -3.87% -6.11% -8.27% -18.41% -37.66% -23.69%
ROIC Less NNEP Spread (ROIC-NNEP)		 41.94% -414.41% -25.10% -199.97% -39.17% 250.16% 104.39% 48.33% 57.69% 658.76% -8.95%
Return on Net Nonoperating Assets (RNNOA)		 -8.15% -7.87% -1.64% -5.53% -0.74% -5.48% -5.08% -4.05% -5.80% -27.22% 3.96%
Return on Equity (ROE)		 14.94% 37.90% 3.26% -7.79% 2.55% -9.35% -11.19% -12.32% -24.21% -64.89% -19.73%
Cash Return on Invested Capital (CROIC)		 3.62% -73.42% -4.41% 2.97% 2.02% 5.44% 4.92% -19.14% -5.17% 15.20% -50.13%
Operating Return on Assets (OROA)		 11.67% 12.13% 0.90% -3.28% 4.21% -3.98% -4.65% -6.77% -15.25% -20.52% -14.33%
Return on Assets (ROA)		 10.00% 24.74% 2.26% -5.76% 1.85% -6.23% -6.73% -7.76% -15.76% -22.95% -14.91%
Return on Common Equity (ROCE)		 14.94% 37.90% 3.26% -7.79% 2.55% -9.35% -11.19% -12.32% -24.21% -64.89% -15.58%
Return on Equity Simple (ROE_SIMPLE)		 12.94% 25.92% 3.00% -8.01% 2.51% -9.49% -11.91% -11.26% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 1.76 9.48 1.70 -0.80 1.14 -1.29 -1.84 -2.49 -5.48 -8.28 -14
NOPAT Margin		 10.20% 33.42% 5.23% -2.36% 3.26% -3.35% -5.17% -7.56% -17.27% -22.25% -19.18%
Net Nonoperating Expense Percent (NNEP)		 -18.85% 460.18% 30.00% 197.72% 42.46% -254.03% -110.50% -56.60% -76.10% -696.42% -14.74%
Return On Investment Capital (ROIC_SIMPLE)		 - - - - - - - - -17.52% -39.33% -9.17%
Cost of Revenue to Revenue		 46.13% 48.11% 61.48% 62.91% 60.41% 65.04% 66.77% 66.37% 72.79% 72.77% 64.02%
SG&A Expenses to Revenue		 38.10% 30.50% 28.34% 31.11% 25.63% 31.17% 31.56% 34.73% 38.76% 42.51% 34.38%
R&D to Revenue		 3.87% 4.36% 4.98% 5.98% 4.90% 5.63% 5.87% 6.51% 7.57% 8.24% 5.28%
Operating Expenses to Revenue		 42.24% 37.30% 37.37% 40.47% 33.45% 39.75% 40.61% 44.42% 51.87% 59.01% 63.38%
Earnings before Interest and Taxes (EBIT)		 1.65 3.78 0.42 -1.53 1.97 -2.04 -2.45 -3.53 -7.75 -13 -20
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 2.50 5.86 3.84 2.05 5.41 1.49 1.12 -0.30 -3.70 -8.86 -15
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 2.48 2.19 1.67 0.70 2.50 2.01 1.12 1.40 1.62 8.45 6.90
Price to Tangible Book Value (P/TBV)		 2.48 4.83 2.89 1.19 3.93 3.05 1.71 1.88 2.47 0.00 9.14
Price to Revenue (P/Rev)		 1.57 2.30 1.82 0.70 2.47 1.75 0.94 1.53 1.54 3.55 14.31
Price to Earnings (P/E)		 19.18 8.45 55.82 0.00 99.64 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 5.21% 11.83% 1.79% 0.00% 1.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 2.94 2.07 1.66 0.71 2.49 2.07 1.12 1.46 1.67 8.21 14.34
Enterprise Value to Revenue (EV/Rev)		 1.42 2.41 1.85 0.73 2.48 1.71 0.90 1.40 1.47 3.57 13.15
Enterprise Value to EBITDA (EV/EBITDA)		 9.83 11.67 15.64 11.92 16.01 44.02 28.66 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 14.87 18.13 143.12 0.00 44.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 13.95 7.22 35.37 0.00 76.03 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 16.10 13.69 22.95 59.50 23.22 13.88 21.85 0.00 89.21 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 88.98 0.00 0.00 23.28 124.11 36.20 21.57 0.00 0.00 39.71 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.03 0.38 0.21 0.17 0.16 0.15 0.14 0.08 0.04 0.35 0.00
Long-Term Debt to Equity		 0.02 0.34 0.16 0.15 0.14 0.12 0.11 0.05 0.03 0.33 0.00
Financial Leverage		 -0.19 0.02 0.07 0.03 0.02 -0.02 -0.05 -0.08 -0.10 -0.04 -0.44
Leverage Ratio		 1.50 1.53 1.44 1.35 1.38 1.50 1.66 1.59 1.54 2.83 1.32
Compound Leverage Factor		 1.46 1.36 0.80 1.97 1.14 1.66 1.82 1.71 1.57 3.15 1.36
Debt to Total Capital		 3.06% 27.76% 17.38% 14.30% 14.15% 12.90% 12.45% 7.50% 3.40% 25.66% 0.32%
Short-Term Debt to Total Capital		 1.48% 3.28% 4.13% 1.49% 2.44% 2.20% 2.94% 2.63% 0.67% 0.82% 0.07%
Long-Term Debt to Total Capital		 1.59% 24.47% 13.25% 12.81% 11.71% 10.70% 9.51% 4.87% 2.73% 24.84% 0.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 5.61%
Common Equity to Total Capital		 96.94% 72.24% 82.62% 85.70% 85.85% 87.10% 87.55% 92.50% 96.60% 74.34% 93.64%
Debt to EBITDA		 0.14 1.95 1.93 2.72 1.05 3.33 3.79 -9.84 -0.29 -0.61 -0.03
Net Debt to EBITDA		 -1.03 0.57 0.24 0.48 0.06 -1.21 -1.15 14.28 0.65 -0.06 6.38
Long-Term Debt to EBITDA		 0.07 1.72 1.48 2.44 0.87 2.76 2.89 -6.39 -0.23 -0.59 -0.03
Debt to NOPAT		 0.20 1.20 4.38 -6.99 5.00 -3.86 -2.30 -1.17 -0.19 -0.65 -0.04
Net Debt to NOPAT		 -1.46 0.35 0.55 -1.22 0.27 1.40 0.70 1.70 0.44 -0.06 6.74
Long-Term Debt to NOPAT		 0.10 1.06 3.34 -6.27 4.14 -3.20 -1.76 -0.76 -0.16 -0.63 -0.03
Altman Z-Score		 -12.76 -2.35 -1.72 -3.93 -0.59 -2.36 -3.89 -2.98 -4.33 -1.37 16.15
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 21.05%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 3.47 3.43 3.34 3.09 2.87 2.45 2.35 3.18 1.93 1.66 4.96
Quick Ratio		 2.07 2.44 1.88 1.76 1.58 1.37 1.39 1.66 1.05 0.84 4.14
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 0.28 -15 -1.53 1.05 0.70 1.81 1.48 -5.76 -1.54 3.34 -29
Operating Cash Flow to CapEx		 135.60% 224.87% 104.02% 32.93% 165.48% 149.81% 90.01% -91.30% 23.87% -665.63% -176.50%
Free Cash Flow to Firm to Interest Expense		 7.34 -36.78 -8.18 1.51 2.06 8.43 6.46 -20.33 -8.02 2.17 -57.51
Operating Cash Flow to Interest Expense		 40.55 12.09 14.01 0.59 11.00 21.97 6.38 -9.92 2.72 -5.42 -20.20
Operating Cash Flow Less CapEx to Interest Expense		 10.64 6.71 0.54 -1.20 4.35 7.31 -0.71 -20.78 -8.66 -6.24 -31.64
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 1.22 0.91 0.69 0.73 0.75 0.75 0.68 0.63 0.62 0.57 0.52
Accounts Receivable Turnover		 4.89 5.86 5.74 5.63 5.43 6.92 7.11 5.56 5.49 5.17 5.84
Inventory Turnover		 2.27 3.06 3.48 3.01 2.53 2.84 3.04 3.04 3.31 2.79 2.98
Fixed Asset Turnover		 4.00 3.86 2.94 2.87 2.97 3.07 2.85 2.69 2.26 2.39 0.00
Accounts Payable Turnover		 5.47 9.42 11.21 9.97 8.83 9.13 7.92 7.74 7.96 5.08 6.08
Days Sales Outstanding (DSO)		 74.57 62.24 63.61 64.79 67.25 52.73 51.35 65.64 66.52 70.56 62.51
Days Inventory Outstanding (DIO)		 160.75 119.16 104.76 121.12 144.00 128.71 120.25 120.19 110.33 130.85 122.67
Days Payable Outstanding (DPO)		 66.74 38.75 32.57 36.63 41.35 40.00 46.10 47.16 45.88 71.81 60.05
Cash Conversion Cycle (CCC)		 168.58 142.65 135.80 149.28 169.90 141.45 125.49 138.68 130.97 129.59 125.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 8.37 33 36 34 35 32 28 32 28 16 66
Invested Capital Turnover		 2.26 1.37 0.94 0.95 1.01 1.15 1.18 1.09 1.07 1.69 1.23
Increase / (Decrease) in Invested Capital		 1.49 25 3.23 -1.85 0.44 -3.10 -3.32 3.27 -3.94 -12 15
Enterprise Value (EV)		 25 68 60 24 87 66 32 46 46 133 943
Market Capitalization		 27 65 59 23 86 67 33 50 49 132 1,027
Book Value per Share		 $0.70 $1.23 $1.37 $1.30 $1.34 $1.26 $1.10 $0.96 $0.78 $0.36 $2.37
Tangible Book Value per Share		 $0.70 $0.56 $0.79 $0.77 $0.85 $0.83 $0.72 $0.72 $0.51 ($0.33) $1.79
Total Capital		 11 41 43 39 40 39 34 39 31 21 159
Total Debt		 0.35 11 7.44 5.58 5.70 4.97 4.23 2.92 1.06 5.40 0.51
Total Long-Term Debt		 0.18 10 5.67 5.00 4.72 4.12 3.23 1.89 0.85 5.23 0.39
Net Debt		 -2.56 3.33 0.93 0.98 0.31 -1.80 -1.28 -4.23 -2.42 0.52 -93
Capital Expenditures (CapEx)		 1.13 2.22 2.52 1.25 2.26 3.16 1.63 3.08 2.18 1.25 5.79
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5.20 7.24 8.85 9.23 9.45 6.33 5.93 8.81 4.23 6.57 11
Debt-free Net Working Capital (DFNWC)		 8.11 15 15 14 15 13 11 16 7.71 11 104
Net Working Capital (NWC)		 7.94 14 14 13 14 12 10 15 7.50 11 104
Net Nonoperating Expense (NNE)		 0.35 1.78 0.64 1.88 0.27 1.90 1.70 1.56 2.53 6.60 6.79
Net Nonoperating Obligations (NNO)		 -2.56 3.33 0.93 0.98 0.31 -1.80 -1.28 -4.23 -2.42 0.52 -93
Total Depreciation and Amortization (D&A)		 0.85 2.09 3.42 3.58 3.44 3.53 3.57 3.23 4.05 4.43 5.22
Debt-free, Cash-free Net Working Capital to Revenue		 30.09% 25.51% 27.20% 27.35% 27.02% 16.45% 16.67% 26.74% 13.33% 17.66% 14.82%
Debt-free Net Working Capital to Revenue		 46.93% 54.01% 47.21% 40.99% 42.43% 34.06% 32.16% 48.43% 24.30% 30.77% 144.77%
Net Working Capital to Revenue		 45.97% 49.25% 41.78% 39.27% 39.62% 31.86% 29.35% 45.32% 23.64% 30.30% 144.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.09 $0.39 $0.04 ($0.10) $0.03 ($0.12) ($0.13) ($0.13) $0.00 ($0.36) ($0.38)
Adjusted Weighted Average Basic Shares Outstanding		 15.40M 20.00M 25.01M 25.79M 25.85M 26.31M 27.02M 31.64M 37.94M 40.87M 53.37M
Adjusted Diluted Earnings per Share		 $0.08 $0.36 $0.04 ($0.10) $0.03 ($0.12) ($0.13) ($0.13) $0.00 ($0.36) ($0.38)
Adjusted Weighted Average Diluted Shares Outstanding		 16.88M 21.67M 26.81M 25.79M 27.47M 26.31M 27.02M 37.46M 39.55M 40.87M 53.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 15.63M 24.25M 25.77M 25.83M 26.01M 26.99M 27.07M 31.64M 37.94M 44.67M 70.04M
Normalized Net Operating Profit after Tax (NOPAT)		 1.80 2.90 0.26 -0.85 1.08 -1.28 -1.84 -2.49 -5.39 -8.21 -3.13
Normalized NOPAT Margin		 10.43% 10.21% 0.80% -2.52% 3.10% -3.34% -5.17% -7.56% -16.99% -22.06% -4.37%
Pre Tax Income Margin		 9.34% 11.85% 0.72% -6.59% 4.66% -5.85% -7.53% -11.58% -25.03% -39.88% -28.21%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 43.89 9.13 2.25 -2.19 5.80 -9.45 -10.68 -12.46 -40.38 -8.65 -38.99
NOPAT to Interest Expense		 46.81 22.93 9.09 -1.14 3.36 -5.99 -8.01 -8.78 -28.56 -5.39 -27.17
EBIT Less CapEx to Interest Expense		 13.99 3.75 -11.22 -3.98 -0.84 -24.12 -17.76 -23.32 -51.76 -9.47 -50.43
NOPAT Less CapEx to Interest Expense		 16.91 17.55 -4.38 -2.94 -3.29 -20.65 -15.10 -19.65 -39.93 -6.20 -38.62
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.04% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Quarterly Metrics And Ratios for LightPath Technologies

This table displays calculated financial ratios and metrics derived from LightPath Technologies' official financial filings.

Metric Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Q3 2025 Q4 2025 Q1 2026 Q2 2026 Q3 2026 Q4 2026
Period end date 12/31/2023 3/31/2024 6/30/2024 9/30/2024 12/31/2024 3/31/2025 6/30/2025 9/30/2025 12/31/2025 3/31/2026 6/30/2026
DEI Shares Outstanding		 37,469,716.00 38,022,003.00 38,807,432.00 39,552,737.00 39,664,887.00 40,160,768.00 42,898,936.00 44,670,213.00 - 57,708,603.00 62,789,407.00
DEI Adjusted Shares Outstanding		 37,469,716.00 38,022,003.00 38,807,432.00 39,552,737.00 39,664,887.00 40,160,768.00 42,898,936.00 44,670,213.00 - 57,708,603.00 62,789,407.00
DEI Earnings Per Adjusted Shares Outstanding		 -0.05 -0.07 -0.06 -0.04 -0.07 -0.09 -0.16 -0.06 - -0.07 -0.06
Growth Metrics		 - - - - - - - - - - -
Revenue Growth		 -13.66% 3.91% -10.85% 4.00% 1.49% 19.07% 41.41% 79.26% 120.23% 108.89% 73.32%
EBITDA Growth		 -301.69% -575.67% -1,826.01% 2.16% -212.38% 29.01% -356.86% -191.95% -411.37% -181.82% 49.46%
EBIT Growth		 -183.93% -150.18% -218.43% -17.07% -51.43% -0.90% -190.31% -74.44% -257.88% -66.33% 36.97%
NOPAT Growth		 -220.46% -169.02% -175.35% -10.09% -39.31% -28.65% -109.93% -82.00% -246.07% -23.11% 4.64%
Net Income Growth		 -146.90% -123.30% -191.01% -20.89% -52.42% -37.92% -199.77% -78.28% -260.09% -14.62% 41.31%
EPS Growth		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% -75.00% -185.71% 22.22% 75.00%
Operating Cash Flow Growth		 13.96% -133.46% 103.42% -249.14% -154.79% -722.84% -4,196.12% 32.78% 482.93% -109.55% -92.78%
Free Cash Flow Firm Growth		 -415.11% -299.32% 162.45% 114.04% 125.94% 447.67% 249.64% 1,067.68% -1,195.71% -463.61% 28.74%
Invested Capital Growth		 19.86% 6.74% -12.42% -6.40% -11.04% -50.94% -41.81% -47.02% 43.89% 296.82% 30.47%
Revenue Q/Q Growth		 -9.43% 5.24% 12.14% -2.71% -11.61% 23.47% 33.18% 23.33% 8.59% 17.11% 10.51%
EBITDA Q/Q Growth		 -5.26% -232.60% 13.82% 67.57% -236.06% 24.41% -454.57% 79.28% -488.63% 58.34% 0.54%
EBIT Q/Q Growth		 -27.19% -61.26% 7.41% 38.36% -64.53% -7.45% -166.40% 62.96% -237.55% 50.06% -0.96%
NOPAT Q/Q Growth		 -42.60% -44.85% 14.47% 37.69% -80.44% -33.77% -39.57% 45.98% -243.11% 50.54% -1.10%
Net Income Q/Q Growth		 -27.66% -51.58% 9.38% 31.06% -60.96% -37.15% -96.96% 59.00% -225.11% 56.34% -0.84%
EPS Q/Q Growth		 0.00% 0.00% 0.00% 0.00% -75.00% 0.00% 0.00% 0.00% -185.71% 65.00% 42.86%
Operating Cash Flow Q/Q Growth		 -125.39% -36.21% 116.41% -2,728.07% 56.63% -339.89% 18.31% 56.87% 347.08% -340.72% 24.85%
Free Cash Flow Firm Q/Q Growth		 12.43% 41.70% 164.95% -57.65% 61.80% 681.20% -34.68% 41.44% -251.82% -157.39% 60.30%
Invested Capital Q/Q Growth		 -0.85% -2.92% -6.52% 4.03% -5.76% -46.46% 10.87% -5.28% 155.95% 47.64% 13.63%
Profitability Metrics		 - - - - - - - - - - -
Gross Margin		 29.64% 20.86% 29.24% 33.86% 26.01% 29.06% 22.04% 29.77% 36.82% 36.33% 39.44%
EBITDA Margin		 -6.21% -19.63% -15.08% -5.03% -19.12% -11.70% -48.73% -8.19% -44.39% -15.79% -14.21%
Operating Margin		 -24.38% -33.55% -25.59% -16.39% -33.46% -36.25% -37.99% -16.64% -52.58% -22.20% -20.31%
EBIT Margin		 -21.65% -33.17% -27.39% -17.35% -32.30% -28.11% -56.23% -16.89% -52.49% -22.38% -20.45%
Profit (Net Income) Margin		 -23.42% -33.74% -27.26% -19.32% -35.18% -39.08% -57.79% -19.21% -57.52% -21.44% -19.57%
Tax Burden Percent		 104.64% 100.22% 97.76% 100.97% 101.73% 102.87% 98.29% 102.89% 100.33% 102.28% 102.77%
Interest Burden Percent		 103.40% 101.47% 101.81% 110.25% 107.05% 135.13% 104.56% 110.57% 109.22% 93.66% 93.11%
Effective Tax Rate		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Return on Invested Capital (ROIC)		 -19.74% -26.74% -19.10% -12.30% -26.04% -38.52% -45.02% -23.11% -58.49% -26.93% -17.56%
ROIC Less NNEP Spread (ROIC-NNEP)		 -3.53% -12.38% 5.19% 16.64% 42.51% 41.78% 357.08% 11.06% -49.14% -22.91% -15.10%
Return on Net Nonoperating Assets (RNNOA)		 0.33% 1.99% -0.52% -1.18% -1.79% -2.76% -14.76% -1.45% 25.63% 10.00% 6.68%
Return on Equity (ROE)		 -19.41% -24.76% -19.62% -13.48% -27.83% -41.28% -59.78% -24.56% -32.86% -16.93% -10.88%
Cash Return on Invested Capital (CROIC)		 -30.03% -22.13% -5.17% -12.01% -9.26% 38.66% 15.20% 20.47% -76.17% -157.87% -50.13%
Operating Return on Assets (OROA)		 -13.92% -20.71% -17.10% -10.72% -20.80% -14.42% -32.28% -10.92% -28.51% -12.45% -10.65%
Return on Assets (ROA)		 -15.06% -21.06% -17.02% -11.93% -22.65% -20.04% -33.18% -12.42% -31.24% -11.93% -10.19%
Return on Common Equity (ROCE)		 -19.41% -24.76% -19.62% -13.48% -27.83% -41.28% -59.78% -24.56% -24.76% -13.80% -8.59%
Return on Equity Simple (ROE_SIMPLE)		 -14.92% -20.38% 0.00% 0.00% 0.00% -64.68% 0.00% 0.00% 0.00% 0.00% 0.00%
Net Operating Profit after Tax (NOPAT)		 -1.25 -1.81 -1.55 -0.96 -1.74 -2.33 -3.25 -1.75 -6.02 -2.98 -3.01
NOPAT Margin		 -17.06% -23.49% -17.91% -11.47% -23.42% -25.38% -26.59% -11.65% -36.81% -15.54% -14.22%
Net Nonoperating Expense Percent (NNEP)		 -16.21% -14.36% -24.29% -28.94% -68.55% -80.30% -402.10% -34.17% -9.35% -4.02% -2.46%
Return On Investment Capital (ROIC_SIMPLE)		 -3.42% -5.50% -4.95% -2.90% -5.71% -11.05% -15.43% -6.54% -7.66% -3.33% -2.01%
Cost of Revenue to Revenue		 70.36% 79.14% 70.76% 66.14% 73.99% 70.94% 77.96% 70.23% 63.18% 63.67% 60.56%
SG&A Expenses to Revenue		 39.07% 41.20% 41.76% 38.93% 45.20% 48.52% 38.82% 29.11% 35.83% 32.88% 38.37%
R&D to Revenue		 8.31% 7.40% 6.75% 5.67% 10.30% 8.27% 8.72% 5.76% 4.58% 5.44% 5.32%
Operating Expenses to Revenue		 54.02% 54.41% 54.84% 50.25% 59.46% 65.31% 60.03% 46.41% 89.40% 58.53% 59.75%
Earnings before Interest and Taxes (EBIT)		 -1.58 -2.55 -2.36 -1.46 -2.40 -2.58 -6.87 -2.54 -8.58 -4.29 -4.33
Earnings before Interest, Taxes, Depreciation and Amortization (EBITDA)		 -0.45 -1.51 -1.30 -0.42 -1.42 -1.07 -5.95 -1.23 -7.26 -3.02 -3.01
Valuation Ratios		 - - - - - - - - - - -
Price to Book Value (P/BV)		 1.40 1.65 1.62 1.84 5.24 5.13 8.45 16.52 6.30 6.50 6.90
Price to Tangible Book Value (P/TBV)		 2.11 2.52 2.47 2.79 8.25 0.00 0.00 0.00 9.99 11.09 9.14
Price to Revenue (P/Rev)		 1.45 1.60 1.54 1.69 4.35 2.40 3.55 8.08 9.29 9.22 14.31
Price to Earnings (P/E)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Dividend Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Earnings Yield		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Enterprise Value to Invested Capital (EV/IC)		 1.44 1.70 1.67 1.86 5.16 5.46 8.21 22.73 11.53 9.46 14.34
Enterprise Value to Revenue (EV/Rev)		 1.36 1.54 1.47 1.67 4.37 2.37 3.57 7.94 8.56 8.72 13.15
Enterprise Value to EBITDA (EV/EBITDA)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to EBIT (EV/EBIT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to NOPAT (EV/NOPAT)		 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Operating Cash Flow (EV/OCF)		 0.00 0.00 89.21 0.00 0.00 0.00 0.00 0.00 0.00 0.00 0.00
Enterprise Value to Free Cash Flow (EV/FCFF)		 0.00 0.00 0.00 0.00 0.00 9.29 39.71 76.92 0.00 0.00 0.00
Leverage & Solvency		 - - - - - - - - - - -
Debt to Equity		 0.08 0.04 0.04 0.13 0.14 0.34 0.35 0.25 0.01 0.00 0.00
Long-Term Debt to Equity		 0.02 0.03 0.03 0.03 0.03 0.33 0.33 0.24 0.00 0.00 0.00
Financial Leverage		 -0.09 -0.16 -0.10 -0.07 -0.04 -0.07 -0.04 -0.13 -0.52 -0.44 -0.44
Leverage Ratio		 1.63 1.53 1.54 1.61 1.65 2.76 2.83 2.67 1.40 1.75 1.32
Compound Leverage Factor		 1.69 1.55 1.56 1.78 1.77 3.74 2.96 2.95 1.53 1.64 1.23
Debt to Total Capital		 7.67% 3.57% 3.40% 11.27% 12.27% 25.34% 25.66% 20.07% 0.53% 0.19% 0.32%
Short-Term Debt to Total Capital		 5.86% 0.98% 0.67% 8.93% 9.91% 0.88% 0.82% 0.54% 0.10% 0.10% 0.07%
Long-Term Debt to Total Capital		 1.81% 2.58% 2.73% 2.34% 2.36% 24.46% 24.84% 19.53% 0.43% 0.09% 0.25%
Preferred Equity to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Noncontrolling Interests to Total Capital		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 30.36% 21.04% 5.61%
Common Equity to Total Capital		 92.33% 96.43% 96.60% 88.73% 87.73% 74.66% 74.34% 79.93% 69.11% 78.77% 93.64%
Debt to EBITDA		 -2.71 -0.51 -0.29 -1.01 -0.80 -1.27 -0.61 -0.56 -0.04 -0.01 -0.03
Net Debt to EBITDA		 2.98 0.86 0.65 0.15 -0.12 0.27 -0.06 0.63 4.70 3.15 6.38
Long-Term Debt to EBITDA		 -0.64 -0.37 -0.23 -0.21 -0.15 -1.22 -0.59 -0.54 -0.03 -0.01 -0.03
Debt to NOPAT		 -0.83 -0.26 -0.19 -0.67 -0.62 -0.81 -0.65 -0.59 -0.04 -0.02 -0.04
Net Debt to NOPAT		 0.92 0.44 0.44 0.10 -0.09 0.17 -0.06 0.68 5.47 3.96 6.74
Long-Term Debt to NOPAT		 -0.20 -0.19 -0.16 -0.14 -0.12 -0.78 -0.63 -0.58 -0.04 -0.01 -0.03
Altman Z-Score		 -3.36 -3.59 -3.96 -3.84 -1.66 -1.76 -1.11 3.63 6.55 9.52 16.41
Noncontrolling Interest Sharing Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 24.65% 18.50% 21.05%
Liquidity Ratios		 - - - - - - - - - - -
Current Ratio		 1.93 2.01 1.93 1.73 1.53 2.30 1.66 1.98 3.97 3.86 4.96
Quick Ratio		 0.85 0.99 1.05 0.97 0.83 1.16 0.84 1.19 3.36 3.07 4.14
Cash Flow Metrics		 - - - - - - - - - - -
Free Cash Flow to Firm (FCFF)		 -6.32 -3.69 2.39 1.01 1.64 13 8.37 12 -18 -46 -18
Operating Cash Flow to CapEx		 -32.37% -96.56% 22.30% -2,461.06% -916.92% -771.29% -388.80% -1,483.94% 325.36% -755.71% -129.37%
Free Cash Flow to Firm to Interest Expense		 -117.54 -97.89 55.91 6.79 9.70 14.15 26.74 44.03 -22.71 0.00 0.00
Operating Cash Flow to Interest Expense		 -5.38 -10.47 1.51 -11.38 -4.36 -3.58 -8.47 -4.25 3.57 0.00 0.00
Operating Cash Flow Less CapEx to Interest Expense		 -22.00 -21.31 -5.27 -11.85 -4.84 -4.05 -10.65 -4.54 2.47 0.00 0.00
Efficiency Ratios		 - - - - - - - - - - -
Asset Turnover		 0.64 0.62 0.62 0.62 0.64 0.51 0.57 0.65 0.54 0.56 0.52
Accounts Receivable Turnover		 6.69 6.94 5.49 6.25 6.44 5.46 5.17 5.93 7.62 6.80 5.84
Inventory Turnover		 3.10 3.13 3.31 3.21 3.33 2.43 2.79 3.27 3.71 3.27 2.98
Fixed Asset Turnover		 2.38 2.30 2.26 2.10 2.11 2.14 2.39 2.93 0.00 4.01 0.00
Accounts Payable Turnover		 8.50 7.64 7.96 8.23 7.73 5.54 5.08 7.86 8.12 7.24 6.08
Days Sales Outstanding (DSO)		 54.58 52.61 66.52 58.36 56.68 66.82 70.56 61.55 47.93 53.64 62.51
Days Inventory Outstanding (DIO)		 117.76 116.51 110.33 113.89 109.48 150.51 130.85 111.76 98.44 111.47 122.67
Days Payable Outstanding (DPO)		 42.95 47.75 45.88 44.37 47.20 65.83 71.81 46.41 44.94 50.39 60.05
Cash Conversion Cycle (CCC)		 129.38 121.37 130.97 127.87 118.96 151.50 129.59 126.89 101.43 114.72 125.14
Capital & Investment Metrics		 - - - - - - - - - - -
Invested Capital		 31 30 28 29 27 15 16 15 39 58 66
Invested Capital Turnover		 1.16 1.14 1.07 1.07 1.11 1.52 1.69 1.98 1.59 1.73 1.23
Increase / (Decrease) in Invested Capital		 5.07 1.88 -3.94 -1.98 -3.38 -15 -12 -14 12 43 15
Enterprise Value (EV)		 44 50 46 54 141 80 133 348 452 548 943
Market Capitalization		 47 52 49 54 140 81 132 354 491 579 1,027
Book Value per Share		 $0.90 $0.83 $0.78 $0.74 $0.67 $0.39 $0.36 $0.48 $1.72 $1.54 $2.37
Tangible Book Value per Share		 $0.60 $0.55 $0.51 $0.49 $0.43 ($0.39) ($0.33) ($0.18) $1.08 $0.90 $1.79
Total Capital		 36 33 31 33 30 21 21 27 113 113 159
Total Debt		 2.80 1.17 1.06 3.74 3.74 5.34 5.40 5.38 0.60 0.22 0.51
Total Long-Term Debt		 0.66 0.85 0.85 0.78 0.72 5.15 5.23 5.24 0.48 0.10 0.39
Net Debt		 -3.08 -1.99 -2.42 -0.54 0.54 -1.14 0.52 -6.13 -73 -55 -93
Capital Expenditures (CapEx)		 0.89 0.41 0.29 0.07 0.08 0.42 0.68 0.08 0.87 0.90 3.95
Debt-free, Cash-free Net Working Capital (DFCFNWC)		 5.31 4.97 4.23 5.75 5.24 9.56 6.57 6.04 -0.88 6.35 11
Debt-free Net Working Capital (DFNWC)		 11 8.13 7.71 10 8.44 16 11 18 73 62 104
Net Working Capital (NWC)		 9.05 7.80 7.50 7.07 5.42 16 11 17 73 61 104
Net Nonoperating Expense (NNE)		 0.47 0.79 0.81 0.66 0.87 1.26 3.81 1.14 3.39 1.13 1.13
Net Nonoperating Obligations (NNO)		 -3.08 -1.99 -2.42 -0.54 0.54 -1.14 0.52 -6.13 -73 -55 -93
Total Depreciation and Amortization (D&A)		 1.13 1.04 1.06 1.04 0.98 1.50 0.92 1.31 1.33 1.26 1.32
Debt-free, Cash-free Net Working Capital to Revenue		 16.35% 15.15% 13.33% 17.95% 16.28% 28.42% 17.66% 13.77% -1.66% 10.12% 14.82%
Debt-free Net Working Capital to Revenue		 34.46% 24.79% 24.30% 31.30% 26.24% 47.69% 30.77% 40.00% 137.72% 98.11% 144.77%
Net Working Capital to Revenue		 27.87% 23.80% 23.64% 22.06% 16.85% 47.14% 30.30% 39.67% 137.50% 97.93% 144.61%
Earnings Adjustments		 - - - - - - - - - - -
Adjusted Basic Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.07) ($0.20) ($0.07) ($0.04)
Adjusted Weighted Average Basic Shares Outstanding		 37.50M 37.99M 37.94M 39.56M 39.73M 41.36M 40.87M 43.29M 47.00M 58.63M 53.37M
Adjusted Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 ($0.07) ($0.20) ($0.07) ($0.04)
Adjusted Weighted Average Diluted Shares Outstanding		 37.50M 38.81M 37.94M 39.66M 40.16M 42.90M 40.87M 43.29M 47.00M 58.63M 53.37M
Adjusted Basic & Diluted Earnings per Share		 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00 $0.00
Adjusted Weighted Average Basic & Diluted Shares Outstanding		 37.50M 37.99M 37.94M 39.56M 39.73M 41.36M 44.67M 45.43M 57.71M 62.79M 70.04M
Normalized Net Operating Profit after Tax (NOPAT)		 -1.25 -1.81 -1.55 -0.91 -1.74 -2.33 -3.25 -1.75 -0.73 -0.60 -0.05
Normalized NOPAT Margin		 -17.06% -23.49% -17.91% -10.82% -23.42% -25.38% -26.59% -11.63% -4.45% -3.14% -0.24%
Pre Tax Income Margin		 -22.39% -33.66% -27.89% -19.13% -34.58% -37.99% -58.79% -18.67% -57.33% -20.97% -19.04%
Debt Service Ratios		 - - - - - - - - - - -
EBIT to Interest Expense		 -29.45 -67.84 -55.24 -9.76 -14.19 -2.85 -21.94 -9.46 -10.85 0.00 0.00
NOPAT to Interest Expense		 -23.21 -48.03 -36.13 -6.45 -10.29 -2.57 -10.37 -6.52 -7.61 0.00 0.00
EBIT Less CapEx to Interest Expense		 -46.07 -78.68 -62.01 -10.22 -14.66 -3.31 -24.11 -9.74 -11.94 0.00 0.00
NOPAT Less CapEx to Interest Expense		 -39.83 -58.87 -42.90 -6.92 -10.76 -3.03 -12.55 -6.81 -8.70 0.00 0.00
Payout Ratios		 - - - - - - - - - - -
Dividend Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%
Augmented Payout Ratio		 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00% 0.00%

Financials Breakdown Chart

Key Financial Trends

LightPath Technologies (NASDAQ:LPTH) has shown strong top-line growth, but profitability and cash generation remain concerns. Revenue increased from $7.3 million in Q2 2024 to $21.2 million in Q4 2026, while gross profit rose from $2.2 million to $8.3 million over the same comparison. However, the company has continued to report operating and net losses in every period provided.

  • Revenue momentum has improved substantially. Quarterly revenue climbed from $8.6 million in Q4 2024 and $12.2 million in Q4 2025 to $21.2 million in Q4 2026. Revenue also increased sequentially throughout fiscal 2026, from $15.1 million in Q1 to $16.4 million in Q2, $19.1 million in Q3 and $21.2 million in Q4.
  • Gross margins have expanded. Gross margin was approximately 39.4% in Q4 2026, compared with about 29.2% in Q4 2025 and 29.2% in Q4 2024. This suggests improved product mix, pricing, manufacturing efficiency or contribution from acquired operations.
  • Liquidity improved significantly through equity financing. Cash increased from $4.3 million at the end of Q1 2025 to $55.2 million at Q3 2026. The Q4 2026 cash flow statement also reported a $38.0 million increase in cash, primarily reflecting a $47.1 million common-stock issuance.
  • Debt has been reduced sharply. Reported short- and long-term debt declined from roughly $5.1 million at Q1 2026 to approximately $217,000 at Q3 2026. This reduces interest-rate and refinancing risk, although it came alongside significant equity issuance.
  • Capital investment increased in the latest quarter. Q4 2026 capital expenditures were $4.4 million, substantially above the $0.9 million reported in Q3. While this reduced near-term free cash flow, it may support future production capacity and revenue growth.
  • Operating expenses remain elevated and volatile. Selling, general and administrative expense increased to $8.1 million in Q4 2026 from $4.4 million in Q1 2026. Research and development spending also rose to $1.1 million, indicating continued investment but limiting operating leverage.
  • Noncash charges complicate earnings comparisons. Other special charges totaled $4.2 million in Q4 2026, following $3.4 million in Q3 and $7.6 million in Q2. These expenses have materially affected reported operating results, although the data does not specify their exact nature.
  • LPTH remains unprofitable. Q4 2026 operating loss was $4.3 million and net loss attributable to common shareholders was approximately $4.0 million. The company also reported losses in each of the preceding three quarters, including a $9.2 million common-shareholder loss in Q2 2026.
  • Operating cash flow remains negative. Cash from operations was negative $5.1 million in Q4 2026 and negative $6.8 million in Q3. Although Q2 generated $2.8 million of operating cash flow, that benefit was driven largely by a $11.3 million favorable change in operating assets and liabilities rather than recurring earnings.
  • Shareholder dilution is a major risk. Common-stock issuance generated $65.3 million in Q2 2026 and another $47.1 million in Q4. Weighted-average basic shares increased from 39.6 million in Q1 2025 to 53.4 million in Q4 2026, reducing the per-share benefit of any future recovery.

Overall, LPTH’s financial profile is improving on revenue growth, gross margins, liquidity and debt reduction. The central question for investors is whether the company can convert that growth into sustainable operating profits and positive operating cash flow. Until that occurs, the business remains dependent on external financing, and continued equity issuance could limit shareholder returns even if revenue growth continues.

Note: The Q4 2026 income statement and cash flow statement are identified as calculated data, while several earlier periods are restated or calculated. Investors should review LightPath’s latest filing for final audited figures and additional details concerning special charges, equity issuances and redeemable noncontrolling interests.

09/26/26 04:26 AM ETAI Generated. May Contain Errors.

LightPath Technologies Financials - Frequently Asked Questions

According to the most recent income statement we have on file, LightPath Technologies' financial year ends in June. Their financial year 2026 ended on June 30, 2026.

LightPath Technologies' net income appears to be on a downward trend, with a most recent value of -$20.55 million in 2026, compared with $1.41 million in 2016. The previous period was -$14.87 million in 2025. See LightPath Technologies' forecast for analyst expectations on what's next for the company.

LightPath Technologies' total operating income in 2026 was -$19.65 million, based on the following breakdown:
  • Total Gross Profit: $25.80 million
  • Total Operating Expenses: $45.46 million

Over the last 10 years, LightPath Technologies' total revenue changed from $17.27 million in 2016 to $71.72 million in 2026, a change of 315.2%.

In the past 10 quarters, LightPath Technologies' cash and equivalents has ranged from $3.01 million in Q3 2024 to $73.57 million in Q2 2026, and is currently $55.24 million as of their latest financial filing in Q3 2026.

LightPath Technologies had total debt of $505.11 thousand at the end of 2026, a 90.6% decrease from 2025, and a 46.3% increase since 2016.

Over the last 10 years, LightPath Technologies' book value per share changed from 0.70 in 2016 to 2.37 in 2026, a change of 237.9%.


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Financial statements for NASDAQ:LPTH last updated on 9/11/2026 by MarketBeat.com Staff. New filings and market data are monitored continuously.
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