LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH)
Information Technology · optical components and imaging systems · NASDAQ
LightPath Technologies provides mission-critical infrared optics, imaging systems, and proprietary glass materials, serving as a strategic, Western-aligned partner for defense and commercial optical applications.
What LIGHTPATH TECHNOLOGIES INC CLASS A does
LightPath Technologies is a global provider of optical components and integrated imaging systems, specializing in both visible and infrared spectrum technologies. The company designs and manufactures precision molded aspheric lenses, infrared optical elements, and advanced thermal and night vision camera assemblies for defense, commercial, and industrial applications. LightPath has recently transitioned to a fully Western-aligned manufacturing footprint, focusing on high-performance imaging solutions and proprietary infrared glass materials.
Recent developments
LightPath achieved record fiscal 2026 revenue of $71.7 million and a record backlog of $110.9 million, driven by strong demand in the defense sector. The company completed a $50 million common stock offering, significantly strengthening its balance sheet, and signed a definitive agreement to divest its China-based manufacturing subsidiary, LPOIZ, to complete its transition to a Western-aligned footprint.
From LIGHTPATH TECHNOLOGIES INC CLASS A's filing of 2026-09-10.
Themes: defense technology, AI infrastructure / thermal imaging, onshoring / supply chain resilience, C-UAS (Counter-Unmanned Aerial Systems), infrared / thermal sensing, precision optical manufacturing
Fundamentals
- Price$7.55 as of 2026-10-21 close
- Market cap$529M as of 2026-09-08 (share count; price 2026-10-21)
- 1-year return-9.0% 2025-10-21 close $8.30 → 2026-10-21 close $7.55
- P/En/a negative earnings
- Net margin-40.0% FY2025, SEC XBRL
- Gross margin+27.2% FY2025, SEC XBRL
- ROE-13.7% FY2026, SEC XBRL
- ROICn/a No figure: its pre-tax income was zero or negative, so there is no tax rate to apply.
- Debt / equityn/a No figure: its filing tags none of the debt lines we read, which is not evidence of zero debt.
- Revenue growth (YoY)+17.3% FY2025, SEC XBRL
- Revenue CAGR (3y)+1.5% SEC XBRL
- Beta1.90 as of 2026-09-03
- Last reported earnings2026-09-10 SEC EDGAR Form 8-K (Item 2.02)
How LPTH compares in its sector
- net profit marginbottom 25% 379 covered Information Technology peers, as of 2026-09-03
- operating marginbottom 25% 374 covered Information Technology peers, as of 2026-09-03
- gross marginbottom 25% 310 covered Information Technology peers, as of 2026-09-03
- return on equitybottom 25% 369 covered Information Technology peers, as of 2026-09-03
- 3-year revenue CAGRmiddle range 383 covered Information Technology peers
- free cash flow (absolute dollars, latest fiscal year)bottom 25% 380 covered Information Technology peers, as of FY2026
Position among covered Information Technology companies that report each metric (minimum 5 peers). A relative position within our covered catalog — not a valuation, quality, or investment judgment. A higher percentile is simply a higher value (for P/E, more expensive on earnings — never "better"). Informational only.
Quarterly results
| Quarter | Revenue | Gross profit | Operating income | Net income | Diluted EPS | Operating cash flow | Capex |
|---|---|---|---|---|---|---|---|
| Q4 FY2026 2026-06-30 | — | $8M† | -$4M† | -$4M† | -$0.05† | -$5M† | $4M† |
| Q3 FY2026 2026-03-31 | — | $7M | -$4M | -$4M | -$0.07 | -$7M† | $899486† |
| Q2 FY2026 2025-12-31 | — | $6M | -$9M | -$9M | -$0.20 | $3M† | $867895† |
| Q1 FY2026 2025-09-30 | $15M | $4M | -$3M | -$3M | -$0.07 | -$1M | $77014 |
| Q4 FY2025 2025-06-30 | $12M† | $3M† | -$5M† | -$7M† | -$0.17† | -$3M† | $681576† |
| Q3 FY2025 2025-03-31 | $9M | $3M | -$3M | -$4M | -$0.09 | -$3M† | $420571† |
| Q2 FY2025 2024-12-31 | $7M | $2M | -$2M | -$3M | -$0.07 | -$737415† | $80423† |
| Q1 FY2025 2024-09-30 | $8M | $3M | -$1M | -$2M | -$0.04 | -$2M | $79732 |
† Not filed as a discrete quarter: derived from the company's own year-to-date figures (for example the fourth quarter as the fiscal year minus the first nine months). A derived per-share figure is approximate, because the share count moves within the year.
Balance sheet at 2026-06-30
- Cash and equivalents$93M
- Total debtnot shown the filing tags none of the debt lines we read — not evidence of zero debt
From the company's own SEC 10-Q and 10-K filings (XBRL), re-read every week. Figures in US dollars as filed; informational only — not financial advice.
How LIGHTPATH TECHNOLOGIES INC CLASS A looks technically
LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) is trading 37.5% below its 200-day average, the long-term trend line — a long-term downtrend. Its 50-day average crossed below its 200-day average about 27 trading days ago — a "death cross", a bearish long-term signal. A strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 27, with sellers in control. Momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 30, neither overbought (above 70) nor oversold (below 30). MACD, a trend-momentum gauge, turned bearish about 7 trading days ago (its momentum flipped negative). It made a new 20-day low about 2 trading days ago. It is 60.2% below its highest point of the past year.
Trend
8
| Distance from the 200-day | it is trading 37.5% below its 200-day average, the long-term trend line — a long-term downtrend | -37.5% |
|---|---|---|
| 50-day moving average | its average price over the last 50 trading days — a short-term trend line — is $10.73 | $10.73 |
| 200-day moving average | its average price over the last 200 trading days — the long-term trend line — is $12.06 | $12.06 |
| Swing structure | each recent peak has been higher than the one before it and each dip has been shallower — the pattern chart-watchers call an uptrend, which describes where price has already been and not where it goes next | higher highs and higher lows |
| Last swing turn | its last significant turn was a swing high 14 calendar days ago — the swings before that are what the structure reading is measured on | 14 sessions |
| Wave structure | its recent swings can be read as a completed three-part upward correction — a pullback in the A-B-C shape Elliott-wave chartists use; the labelling fails if price closes above 11.31. It is the only labelling that fits, and it describes the swings already printed, not what comes next. | possible three-wave upward correction, complete |
| Since the 50/200 cross | its 50-day average crossed below its 200-day average about 27 trading days ago — a "death cross", a bearish long-term signal | 27 sessions |
| Trend strength (14-day ADX) | a strong downtrend is in place — ADX, a 0–100 trend-strength gauge, is 27, with sellers in control | 27.1 |
Momentum
3
| 14-day RSI | momentum is neutral — its 14-day RSI (a 0–100 momentum gauge) is 30, neither overbought (above 70) nor oversold (below 30) | 30.3 |
|---|---|---|
| Position in its 14-day range | it is trading near the bottom of its 14-day range ($7.19 to $11.31) — its "stochastic" reading is 9 out of 100, where 0 would mean closing exactly at the 14-session low and 100 exactly at the high. This measures WHERE the price sits inside its recent range, which is a different question from the RSI beside it: RSI is a momentum gauge, measuring how FAST the price has been moving, so a stock can drift quietly to the bottom of its range with an ordinary RSI, or fall sharply and still sit in the middle. It has been climbing within that range over the last few sessions. | 8.5 |
| Since the MACD crossed zero | MACD, a trend-momentum gauge, turned bearish about 7 trading days ago (its momentum flipped negative) | 7 sessions |
Range
12
| 52-week high | its highest closing price over the past year (about 252 trading days) was $18.94 | $18.94 |
|---|---|---|
| From the 52-week high | it is 60.2% below its 52-week high (its highest price of the past year) | -60.2% |
| Above the 52-week low | it is 29.3% above its 52-week low (its lowest price of the past year) | +29.3% |
| Below the 52-week high | it is 60.2% below its highest point of the past year | 60.2% |
| Since a 20-day breakout | it made a new 20-day low about 2 trading days ago | 2 sessions |
| Since a 55-day breakout | it made a new 55-day low about 2 trading days ago | 2 sessions |
| All-time high | its highest closing price on record is $18.94 (set on 2026-05-28) | $18.94 |
| Given back of the 52-week move | over the past year its closes ranged ($6.18 to $18.15), and it has given back almost all of its rise from last year’s low — 89% of it. Chart-watchers call 61.8%-65% given back the "golden pocket" — for this company that is $10.37 to $10.75. It is watched widely enough that orders cluster there, which is the honest reason it matters; it is not a forecast. | 88.6% |
| From the all-time high | it is 60.2% below its all-time high | -60.2% |
| Nearest price level | it is trading 15.5% below a resistance level at $8.71 — a price it turned at twice since 2026-02-05, most recently on 2026-09-14. Since 2024-10-21 it has 4 such levels below the current price and 8 above. Levels like these describe where the price has reversed or paused before; they are not a forecast of where it will go. | +15.5% |
| All-time low | its lowest closing price on record is $0.3 (set on 2009-02-25) | $0.3 |
| Above the all-time low | it is 2413.3% above its all-time low | +2,413% |
Volatility
5
| Band width vs its own 6 months | day-to-day price swings are about average versus its own recent 6-month history | 61st percentile |
|---|---|---|
| Typical daily range | in a typical session it travels about $0.6789 between its high and its low — about 9.0% of its price. That is its "average true range" over the last 14 sessions, which also counts the distance from the previous close, so a day that opens well away from yesterday counts as the large move it was | $0.6789 |
| Bollinger bands (20-day, ±2σ) | most of its recent trading has stayed between about $7.20 and $11.81 — the "Bollinger bands", a range drawn two standard deviations either side of its 20-day average price, which widens when the stock gets more volatile and narrows when it settles | $7.20 – $9.50 – $11.81 |
| Typical daily range (% of price) | its price moves about 9.0% in a typical session — among the most volatile in the catalog. This is the average gap between a session's high and low over the last 14 sessions, counting overnight moves, expressed against the current price so it can be compared with companies trading at any price | 9.0% |
| Stretch from the 200-day average | it is trading 6.7 daily ranges below its 200-day average price (37.5% below it in plain percentage terms) — a way of asking how far it has stretched from its own average in units of how far it normally moves in a day, so a calm company and a jumpy one can be compared on the same scale | 6.7 daily ranges below its 200-day average |
Volume
1
| Volume vs its 30-day average | trading volume is about normal versus its 30-day average | 1.09× |
|---|
Analyst
2
| Change in the average price target | analysts' average price target is unchanged from the prior reading | 0.0% |
|---|---|---|
| Change in the consensus rating | the analyst consensus rating is unchanged since the prior reading | unchanged |
Price gaps
3
| Gap at the open | it opened on 2026-10-20 2.6% below the previous session's close — an overnight gap, the part of the move that happened while the market was shut, and traded back through that level before the close | -2.6% |
|---|---|---|
| Open gap | it gapped 3.5% below the previous close 4 sessions ago and has not traded back through the level it left behind at 8.91 — an "unfilled gap", which describes a price range no trade has since crossed and is not a forecast that it will be crossed | -3.5% |
| Gap filled | a 2.6% gap down opened on 2026-10-20 has been "filled" today — price traded back through the level the gap left behind, and it closed again during the very session that opened it | today |
Price streaks
1
| Closing streak | it closed higher in its latest session, after a session that did not close higher — a single up day rather than a run | 1 session up |
|---|
Relative strength
4
| vs market, 1 month | over the past 1 month this stock lagged the market by 24.8 percentage points (the stock lost 23.8% while the market gained 1.0%) | -24.8% |
|---|---|---|
| vs market, 3 months | over the past 3 months this stock lagged the market by 30.9 percentage points (the stock lost 27.2% while the market gained 3.6%) | -30.9% |
| vs market, 6 months | over the past 6 months this stock lagged the market by 55.8 percentage points (the stock lost 47.3% while the market gained 8.5%) | -55.8% |
| vs market, 12 months | over the past 12 months this stock lagged the market by 28.2 percentage points (the stock lost 13.6% while the market gained 14.6%) | -28.2% |
Signal agreement
2
| Bullish technical signals | 1 of the 9 technical signals we can compute for it is currently in a bullish state: near the bottom of its 14-day range (oversold) — these describe past price behaviour, not a forecast | 1 of 9 |
|---|---|---|
| Bearish technical signals | 7 of the 9 technical signals we can compute for it are currently in a bearish state: a "death cross" — its 50-day average is below its 200-day, trading below its 200-day average, a fresh 20-day low, MACD momentum is negative, a strong downtrend, with sellers in control, lagging the market over 6 months, trading below the Ichimoku cloud — these describe past price behaviour, not a forecast | 7 of 9 |
Trend (Ichimoku cloud)
1
| Vs the Ichimoku cloud | trading 31% below the Ichimoku cloud — a band drawn from where its own highs and lows sat up to 2026-09-14 and projected forward over today's price, the side traders read as an established downtrend, with the band above acting as the level that would have to be cleared. The band itself is thick, spanning 23.8% of the share price, which is taken to mean a barrier that has held for a while and takes effort to cross. | -31.4% |
|---|
Volume-weighted price
2
| Vs this year’s average price paid | the price is 39% below the average price paid so far this year, so the typical buyer over that stretch is under water. That average is $12.36 — a volume-weighted average of daily closes over 198 sessions, not a true tick-by-tick VWAP. | -39.0% |
|---|---|---|
| Vs the average paid since it last reported | the price is 20% below the average price paid since it last reported on 2026-09-10 (its 8-K), so the typical buyer over that stretch is under water. That average is $9.44 — a volume-weighted average of daily closes over 29 sessions, not a true tick-by-tick VWAP. | -20.1% |
Price levels it has turned at before
LPTH last closed at $7.54 on 2026-10-20. Since 2024-10-21 it has turned at 4 prices below its last close and 8 above; the 3 nearest below and the 3 nearest above are listed, nearest first.
| Level | Side | Distance | Evidence |
|---|---|---|---|
| $8.71 | Resistance | 15.5% above the last close | turned there twice · 2026-02-05 to 2026-09-14 |
| $8.98 | Resistance | 19.1% above the last close | turned there twice · 2025-11-12 to 2026-09-02 |
| $9.20 | Resistance | 21.9% above the last close | turned there three times · 2025-10-28 to 2026-07-29 |
| $3.64 | Support | 51.7% below the last close | turned there three times · 2025-01-22 to 2025-07-17 |
| $2.76 | Support | 63.5% below the last close | turned there four times · 2025-02-03 to 2025-07-11 |
| $2.22 | Support | 70.5% below the last close | turned there twice · 2025-04-02 to 2025-05-20 |
A level is a price this company reversed or paused at more than once — they describe past behaviour, not a forecast of where the price will go.
Wave structure
Its recent swings can be read as a three-part upward correction — the A-B-C shape chartists use for a pullback — now complete.
This labelling fails — stops being a possible reading at all — if it closes above $11.31.
It is the only labelling that fits these swings, though its proportions are not the textbook ones.
This reading has stood for 6 trading days, since 2026-10-13.
Read from daily closes as of 2026-10-20.
An Elliott-wave count describes the swings already printed and the level that would disprove it. It is not a forecast, a target, or advice.
Screens: Trading below the 200-day moving average · Trading below the 50-day moving average · Recent death cross (50-day crossed below 200-day) · Pulled back from the 12-month high · Broke down to a new 20-day low · lagging the market | Learn: moving average · golden cross · adx · rsi · macd · breakout · fifty two week high low
Based on daily closing prices as of 2026-10-20. Describes past price behavior only — informational, not financial advice.
Analyst consensus
- Consensus ratingStrong Buy (1.20 mean, 1=Strong Buy…5=Strong Sell) — 5 analysts
- Mean price target$15.80 range $15.00 – $17.00; median $15.50
Analyst estimates, as of 2026-10-17. These are third-party analyst opinions and price targets, aggregated — not a recommendation, prediction, or advice from stocks-llm. Informational only.
Analyst EPS estimate for LPTH
- Consensus EPS estimate-$0.02 next reporting period, as of 2026-10-17
- Estimate change, 30 days-$0.015 from -$0.005, on 2026-09-12, 35-day window
- Readings revised upward20% of 5 comparable readings
The consensus estimate for the next reporting period, and how it has moved between readings of that SAME period. A change is measured only between readings estimating one period — when a company reports, the consensus moves to the next quarter and the two numbers are not comparable. Informational only, not a forecast and not advice.
Key risks (from latest filing)
["Operational dependence on capital-intensive manufacturing and potential financial constraints for capacity expansion.","High competition from larger, better-capitalized producers in high-volume commercial production markets.","Risks associated with international operations and supply chain management as the company transitions to a fully Western-aligned footprint."]
What changed in the latest 10-Q
AI-assisted comparison of LPTH's 10-Q filed 2026-05-07 against the prior one filed 2026-02-11.
Management's Discussion & Analysis (MD&A)
- Added:
- In January 2026, we acquired the assets of Amorphous Materials, Inc. through our newly-formed, wholly-owned subsidiary, AML, which specializes in infrared glass fabrication and operates from a manufacturing facility in Garland, Texas.
- Statement that AML acquisition strengthens LightPath's position as a leader in infrared imaging by expanding materials portfolio and glass fabrication capabilities.
- Reference to AML's infrared materials in the infrared product group description.
- Page number changed from 26 to 27 in the newer filing.
- Removed:
- Reference to LPOIZ's manufacturing facility as the 'Zhenjiang Facility' (older filing used this label).
- Reference to ISP Latvia's manufacturing facility as the 'Riga Facility' (older filing used this label).
- Reworded:
- Infrared product group description reordered: newer filing lists 'both molded and turned infrared lenses' before mentioning 'both conventional and CNC ground and polished lenses,' whereas older filing listed 'both conventional and CNC ground and polished lenses' after the BlackDiamond mention.
- Newer filing states infrared product group 'includes both conventional and CNC ground and polished lenses' while older filing states 'This product group also includes both conventional and CNC ground and polished lenses,' with slightly different sentence structure.
- Newer filing specifies that AML materials and G5 Infrared's optical component and coating business are part of infrared product group revenue sources; older filing only mentioned BlackDiamond and G5 Infrared without explicit mention of AML.
- Notes:
- The comparison shows text truncation in the older filing's assemblies and modules section ('made'), making full assessment of that section incomplete.
- Facility naming conventions (Zhenjiang Facility, Riga Facility) were removed in the newer version but this may reflect editorial simplification rather than substantive change.
Risk Factors
- Reworded:
- The newer filing changes the reference from 'six months ended December 31, 2025' to 'nine months ended March 31, 2026'.
AI-assisted comparison of two SEC filing sections. It describes wording and theme changes only, makes no materiality, legal, or investment judgement, and is not financial advice. Informational only — not financial advice.
Insider activity (SEC Form 4)
No open-market insider purchases or sales recorded in the last 90 days, of which we have read Form 4 filings through 2026-10-16. The 6 days since 2026-10-16 have not been checked yet.
- Last 180 days · read to 2026-10-160 buys · 5 sells ($54M) — 1 selling insider
Most recent open-market transaction: 2026-06-03. Based on Form 4 filings read through 2026-10-16; anything filed since is not yet included.
View full insider trading history → View SEC Form 3/4/5 filingsAsk about LPTH's insider activity →
Only open-market purchases (SEC code P) and sales (code S) are counted here. Option exercises, vesting/awards, gifts, and shares withheld for taxes are excluded — they are compensation or mechanical, not open-market conviction. Sales may be planned and non-discretionary (e.g. a Rule 10b5-1 plan) and are not necessarily bearish; open-market buying is not a recommendation to buy. Informational only — not financial advice.
Institutional ownership (13F)
5 institutional 13F filers reported holding LPTH as of 2026-06-30 (quarter-end position, filed within 45 days).
- Distinct 13F filers 5
- Reported shares held 9,352,265
- Reported value $152,909,532
reported quarterly holdings change (2026-03-31 → 2026-06-30): 0 new, 5 increased, 0 decreased, 0 exited. Change counts cover only managers that filed 13F reports in BOTH quarters, derived between two quarter-end snapshots — not same-day trades; a single manager is never said to have "bought" or "sold".
Institutional holdings are quarter-end long positions reported on SEC Form 13F-HR, filed up to 45 days after the quarter ends — they are delayed, are not real-time trades, exclude short positions and most non-US securities, and are not investment advice. Any increase/decrease is a reported change between two quarterly snapshots, not a same-day purchase or sale. These are quarter-end snapshots from the 13F filings on SEC EDGAR, filed within 45 days — not real-time, and any change is a difference between two quarterly reports, not a same-day trade. Informational only — not financial advice.
Ask about LPTH's institutional holders → See what each manager we track holds →
Short interest (FINRA)
LPTH had 12,121,229 shares of reported short interest as of the 2026-09-30 FINRA settlement date (delayed, bi-monthly; not real-time).
LPTH had 17.3% of its shares outstanding sold short as of the 2026-09-30 FINRA settlement date (percent of FLOAT would be higher — float is not disclosed in the source). FINRA reported 4.67 days to cover at the same settlement.
- Reported short interest (shares) 12,121,229
- Short interest (% of shares outstanding) 17.3%
- Prior settlement (shares) 11,404,961
- Reported change 6.28%
- Days to cover (reported) 4.67
Reported to FINRA as of the 2026-09-30 settlement date. Short interest is reported to FINRA and published on a delayed, bi-monthly schedule (as of a settlement date, disseminated roughly eight business days later) — it is NOT real-time, does not cover every venue or all US trading, and is not a short-squeeze prediction or investment advice. Days-to-cover is the value FINRA reports; percent of float is not shown because the source file carries no share-count denominator — where a percent appears it is of shares OUTSTANDING, the larger base, and is therefore a floor on percent of float. Informational only — not financial advice.
Competitors & peers
- II-VI / Coherent (COHR)
- FLIR Systems / Teledyne Technologies (TDY)
- L3Harris Technologies (LHX)
- Northrop Grumman (NOC)
- Raytheon (RTX)
- Edmund Optics
- Thorlabs
AI-enriched competitor set. Linked names are companies covered by stocks-llm; other named peers are shown for reference only.
Compare LPTH vs…
LIGHTPATH TECHNOLOGIES INC CLASS A is found in…
Frequently asked questions
What does LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) do?
LightPath Technologies is a global provider of optical components and integrated imaging systems, specializing in both visible and infrared spectrum technologies. The company designs and manufactures precision molded aspheric lenses, infrared optical elements, and advanced thermal and night vision camera assemblies for defense, commercial, and industrial applications.
What sector is LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) in?
LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) is classified in the Information Technology sector. Its industry is optical components and imaging systems. It trades on NASDAQ.
Who are LIGHTPATH TECHNOLOGIES INC CLASS A's (LPTH) competitors?
Notable peers of LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) include II-VI / Coherent, FLIR Systems / Teledyne Technologies, L3Harris Technologies, Northrop Grumman and Raytheon. This peer set is informational only — not financial advice.
Is LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) overbought or oversold right now?
LIGHTPATH TECHNOLOGIES INC CLASS A (LPTH) is currently neither overbought nor oversold — its 14-day RSI (a 0–100 momentum gauge) is 30, in the neutral middle (as of 2026-10-20). RSI describes recent price momentum, not a forecast — informational only, not financial advice.
Where does stocks-llm's data on LPTH come from?
Fundamentals come from SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest; prices are market data, as of 2026-09-03; company filings and profile facts come from SEC EDGAR. All figures are delayed daily-close data shown with their as-of date — informational only, not financial advice.
Fundamentals: SEC XBRL company filings for the figures marked with a fiscal year, and market data, as of 2026-09-03 for the rest. Filings: SEC EDGAR. Prices are delayed daily-close data.
Last updated 2026-10-21.
Informational only — NOT financial advice. All figures are delayed daily-close data from SEC EDGAR & market data, shown with their as-of date.