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Discontinued — last reported Q1 '26

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Other financials

Income statement

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Revenue$19.1M+109%
Gross profit$4.5M+57.6%
Net income-$4.1M-14.6%
EPS (diluted)-$0.07-75.0%

Balance sheet

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Cash & equivalents$55.2M+753%
Total debt$11.4M-20.7%
Total equity$89.1M+467%
Total assets$144.3M+77.2%

Cash flow

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Operating cash flow-$6.8M-110%
CapEx$899.5K+114%
Free cash flow-$7.7M-110%

Valuation

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Market cap$754.1M+388%
Enterprise value$710.24M+344%
P/S12×+7.9×

Profitability

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Gross margin26.8%-1.7pp
Operating margin-29.5%+6.9pp
Net margin-37.4%+11.5pp
FCF margin-16.4%-2.1pp

Returns & leverage

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Return on equity-44.8%+2.1pp
Debt / equity0.1×-0.8×
Current ratio3.9×+1.6×

Where this comes from

Reported directly by Lightpath Technologies in its filing.

Tagged under the XBRL concept us-gaap:OperatingIncomeLoss.

The source filing: Lightpath Technologies’s 10-Q, filed November 12, 2025.

Filed
Nov 12, 2025
Fiscal quarter
Q1 FY2026
Calendar quarter
Q3 2025
Accession
0001654954-25-012804
Line itemThree Months Ended / September 30, 2025Three Months Ended / September 30, 2024
Change in fair value of acquisition liabilities1,282,529
Loss on disposal of property and equipment3,99978,437
Total operating expenses6,988,3504,221,237
Operating loss(2,505,778)(1,376,808)
Other expense:
Interest expense, net(268,853)(149,360)
Other expense, net(37,101)(80,941)
Total other expense(305,954)(230,301)

Item 1. Financial Statements

FAQ

What is Lightpath Technologies's operating income?
Lightpath Technologies (LPTH) reported operating income of -$2.51M in Q3 2025.
How has Lightpath Technologies's operating income changed year-over-year?
Lightpath Technologies's operating income decreased by 82.0% year-over-year, from -$1.38M to -$2.51M.
What is the long-term trend for Lightpath Technologies's operating income?
Over 3 years (2022 to 2025), Lightpath Technologies's operating income has grown at a 65.1% compound annual growth rate (CAGR), from -$2.63M to -$11.82M.
What does operating income mean?
Gross profit minus all operating expenses (SG&A, R&D, D&A). Measures the profit from core business operations before interest, taxes, and non-operating items.

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