LightPath Technologies Inc (LPTH) Q1 2025 Earnings Call Highlights: Revenue Growth and ...

In This Article:

  • Revenue: Increased 4% to $8.4 million compared to $8.1 million in the same quarter last year.

  • Infrared Components Sales: $2.6 million, representing 31% of consolidated revenue.

  • Visible Components Sales: $3.3 million, representing 39% of consolidated revenue.

  • Assemblies and Modules Revenue: $1.1 million, representing 13% of consolidated revenue.

  • Engineering Services Revenue: $1.4 million, representing 17% of consolidated revenue.

  • Gross Profit: Increased 22% to $2.8 million, or 34% of total revenues, compared to $2.3 million, or 29% of total revenues, in the same quarter last year.

  • Operating Expenses: Increased 23% to $3.3 million compared to $2.7 million in the same quarter last year.

  • Net Loss: $1.6 million, or 4 per share, compared to $1.3 million, or 4 per share, in the same quarter last year.

  • EBITDA Loss: Approximately $0.5 million compared to a loss of $0.4 million in the same period last year.

  • Cash and Cash Equivalents: $4.3 million as of September 30, 2024, compared to $3.5 million as of June 30, 2024.

  • Total Debt: $3.9 million as of September 30, 2024.

  • Backlog: Totaled $21 million.

Release Date: November 07, 2024

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

  • LightPath Technologies Inc (NASDAQ:LPTH) reported a 4% increase in revenue for the first quarter of fiscal 2025, reaching $8.4 million compared to $8.1 million in the same quarter last year.

  • The company's transformation strategy from a component supplier to a system provider has been successful, with 30% of revenue now coming from these new activities.

  • LightPath Technologies Inc (NASDAQ:LPTH) has secured phase two funding from the Defense Logistics Agency to support the qualification of new black diamond glasses as a substitute for germanium, indicating strong government and defense sector engagement.

  • The company has made significant progress in the European defense market, obtaining a European defense license and receiving orders from European defense customers, which could potentially become 10% customers.

  • LightPath Technologies Inc (NASDAQ:LPTH) has developed a portfolio of unique thermal cameras, including the Mantis camera, which has opened doors with high-profile customers and is positioned as an industry leader from a cost-to-performance perspective.

Negative Points

  • Operating expenses increased by 23% to $3.3 million for the first quarter of fiscal 2025, primarily due to higher legal and consulting fees related to business development initiatives.

  • The company reported a net loss of $1.6 million for the first quarter of fiscal 2025, compared to a net loss of $1.3 million in the same quarter last year.

  • Despite the revenue increase, the backlog remained relatively flat year over year, which may indicate challenges in securing long-term contracts.

  • The company's exposure to germanium has been proactively reduced, but geopolitical factors such as sanctions on Russia and trade tensions with China could still impact material sourcing.

  • The timeline for significant revenue from large defense contracts, such as the Lockheed Martin missile program, remains uncertain and dependent on competitive outcomes.

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