LPTH on Nasdaq

LIGHTPATH TECHNOLOGIES INC

American semiconductors and related devices company based in Orlando. Summary from the record

Price unavailable

Last updated Oct 19, 2026.

Overview

$71.7MRevenue, fiscal 20262
-$20.5MNet income, fiscal 20262

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  • TickerLPTH on Nasdaq1
  • IndustrySemiconductors & Related Devices1
  • HeadquartersOrlando, Florida1
  • Incorporated inDE3
  • Business address2603 Challenger Tech Ct, Ste 100, Orlando, Fl 32826-27163
  • Filer categoryNon-accelerated filer, Smaller reporting company3
  • Legal formCorporation

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LightPath Technologies, Inc. (“LightPath”, the “Company”, “we”, “our”, or “us”) was incorporated under Delaware law in 1992 as the successor to LightPath Technologies Limited Partnership, a New Mexico limited partnership formed in 1989, and its predecessor, Integrated Solar Technologies Corporation, a New Mexico corporation formed in 1985. Today, LightPath is a global company with facilities in the United States and the Republic of Latvia. Our corporate headquarters is located in Orlando, Florida.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

36.0%Gross margin2
-27.4%Operating margin2
-28.6%Net margin2
92.8%Revenue growth, 20262
-13.7%Return on equity2
-$16.5MFree cash flow2

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Assemblies and Modules brought in 44% of the revenue LIGHTPATH TECHNOLOGIES INC broke down this way in fiscal 2026.

  1. Assemblies and Modules$31.9M244%up 281% from 2025
  2. Infrared Components$21.2M230%up 52% from 2025
  3. Visible Components$15.5M222%up 32% from 2025
  4. Engineering Services$3.2M24%down 1% from 2025
Products and services by year
Products and services20252026
Assemblies and Modules$8.4M$31.9M
Infrared Components$13.9M$21.2M
Visible Components$11.7M$15.5M
Engineering Services$3.2M$3.2M

Regions

United States brought in 52% of the revenue LIGHTPATH TECHNOLOGIES INC broke down this way in fiscal 2026.

  1. United States$37.0M252%up 61% from 2025
  2. United Kingdom$15.0M221%up 337% from 2025
  3. Israel$7.7M211%up 185% from 2025
  4. Europe$4.7M26%up 57% from 2025
  5. China$4.5M26%up 55% from 2025
  6. Asia$1.8M23%up 82% from 2025
  7. Other Foreign Countries$978.8K21%down 21% from 2025
Regions by year
Regions20252026
United States$23.0M$37.0M
United Kingdom$3.4M$15.0M
Israel$2.7M$7.7M
Europe$3.0M$4.7M
China$2.9M$4.5M
Asia$1.0M$1.8M
Other Foreign Countries$1.2M$978.8K

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue61¢$45.9M
  • Research and development5¢$3.8M
  • Selling, general and admin33¢$24.7M
  • Income tax0¢$314.7K

Out of $71.7M in revenue.2 The company lost money this year.

Financial statements

Revenue56789102$71.7M in 2026+113% since 2019
0$20.0M$40.0M$60.0M$80.0M2019: $33.7M$33.7M20192020: $35.0M$35.0M2020+4%2021: $38.5M$38.5M2021+10%2022: $35.6M$35.6M2022−8%2023: $32.9M$32.9M2023−7%2024: $31.7M$31.7M2024−4%2025: $37.2M$37.2M2025+17%2026: $71.7M$71.7M2026+93%
Gross profit56789102$25.8M in 2026+106% since 2019
0$10.0M$20.0M$30.0M2019: $12.5M$12.5M20192020: $13.8M$13.8M2020+11%2021: $13.4M$13.4M2021−3%2022: $11.8M$11.8M2022−12%2023: $11.1M$11.1M2023−6%2024: $8.6M$8.6M2024−22%2025: $10.1M$10.1M2025+17%2026: $25.8M$25.8M2026+155%
Operating income56789102-$19.7M in 2026+1624% since 2019
-$20.0M-$10.0M0$10.0M2019: -$1.1M-$1.1M20192020: $2.1M$2.1M20202021: -$1.8M-$1.8M20212022: -$2.6M-$2.6M2022+43%2023: -$3.6M-$3.6M2023+35%2024: -$7.8M-$7.8M2024+120%2025: -$11.8M-$11.8M2025+51%2026: -$19.7M-$19.7M2026+66%
Net income56789102-$20.5M in 2026+667% since 2019
-$30.0M-$20.0M-$10.0M0$10.0M2019: -$2.7M-$2.7M20192020: $866.9K$866.9K20202021: -$3.2M-$3.2M20212022: -$3.5M-$3.5M2022+11%2023: -$4.0M-$4.0M2023+14%2024: -$8.0M-$8.0M2024+98%2025: -$14.9M-$14.9M2025+86%2026: -$20.5M-$20.5M2026+38%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-06-302025-06-30
Revenue, net$71.7M$37.2M
Cost of sales$45.9M$27.1M
Gross profit$25.8M$10.1M
Selling, general and administrative$24.7M$15.8M
New product development$3.8M$3.1M
Amortization of intangible assets$1.8M$1.4M
Change in fair value of acquisition liabilities$15.6M$1.6M
(Gain) loss on disposal of property and equipment-$455.1K$99.3K
Total operating expenses$45.5M$22.0M
Operating loss-$19.7M-$11.8M
Interest income (expense), net$16.0K-$1.1M
Loss on extinguishment of debt-$506.3K-$418.5K
Change in fair value of warrant liability$0-$1.4M
Other expense, net-$86.3K-$122.1K
Total other income (expense), net-$576.5K-$3.0M
Loss before income taxes-$20.2M-$14.8M
Income tax provision$314.7K$37.8K
Net loss-$20.5M-$14.9M
Foreign currency translation adjustment$330.2K$468.8K
Comprehensive loss-$20.2M-$14.4M
Loss per common share (basic) (in dollars per share)-$0.38-$0.36
Number of shares used in per share calculation (basic) (in shares)53.4M shares40.9M shares
Loss per common share (diluted) (in dollars per share)-$0.38-$0.36
Number of shares used in per share calculation (diluted) (in shares)53.4M shares40.9M shares

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Leadership

Who has led LIGHTPATH TECHNOLOGIES INC, and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Ken Brizel2006–2007
  2. Joseph J. Gaynor Jr.2007–2019
  3. Shmuel Rubin2020–now

President

  1. Ken Brizel2006–2007
  2. Joseph J. Gaynor Jr.2010–2019
  3. Shmuel Rubin2026–now

Chief financial officer

  1. Dorothy M. Cipolla2006–2018
  2. Donald O'Connor Retreage Jr.2018–2021
  3. Albert Miranda2021–now

Chief operating officer

  1. Alan Symmons2019–2020
2010201520202025
Board members and other officers (26)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • DirectorS. Eric Creviston named Mar 5, 202546

Timeline

  1. Mar 11, 2020New chief executive Shmuel Rubin becomes CEO13
  2. Nov 9, 2007New chief executive Joseph J. Gaynor Jr. becomes CEO14
  3. Jan 4, 2006New chief executive Ken Brizel becomes CEO15

Filings

290 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 47 major events, 91 insider forms, 29 large holders, 6 private raises, 97 other. The latest 20:

  1. Oct 9, 2026D EDGAR
  2. Sep 25, 20264 EDGAR
  3. Sep 25, 20264 EDGAR
  4. Sep 11, 202610-K EDGAR
  5. Sep 10, 20268-K EDGAR
  6. Aug 14, 2026SCHEDULE 13G EDGAR
  7. Jul 31, 2026SCHEDULE 13G/A EDGAR
  8. Jul 29, 2026SCHEDULE 13G EDGAR
  9. Jul 23, 2026EFFECT EDGAR
  10. Jul 23, 2026EFFECT EDGAR
  11. Jul 23, 2026EFFECT EDGAR
  12. Jul 23, 2026EFFECT EDGAR
  13. Jul 23, 2026EFFECT EDGAR
  14. Jul 23, 2026EFFECT EDGAR
  15. Jul 23, 2026EFFECT EDGAR
  16. Jul 23, 2026EFFECT EDGAR
  17. Jul 23, 2026EFFECT EDGAR
  18. Jul 23, 2026EFFECT EDGAR
  19. Jul 23, 2026EFFECT EDGAR
  20. Jul 23, 2026EFFECT EDGAR

The 290 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

34 open-market trades by officers, directors and large owners since October 2021: 17 buys and 17 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Jun 3, 2026HAMMER TODD BSale3,571,400$14.00$50.0MForm 4
May 18, 2026HAMMER TODD BSale55,284$12.32$681.1KForm 4
May 14, 2026North Run Strategic Opportunities Fund I GP, LLCSale165,000$12.16$2.0MForm 4
May 13, 2026North Run Strategic Opportunities Fund I GP, LLCSale45,000$12.29$553.0KForm 4
May 12, 2026North Run Strategic Opportunities Fund I GP, LLCSale83,052$12.25$1.0MForm 4
Mar 27, 2026Rubin ShmuelPresident & CEOBuy180$9.70$1.7KForm 4
Mar 25, 2026North Run Strategic Opportunities Fund I GP, LLCSale302,352$12.31$3.7MForm 4
Mar 24, 2026North Run Strategic Opportunities Fund I GP, LLCSale54,557$12.06$658.0KForm 4
Mar 18, 2026ELLIS THOMAS BDirectorSale16,000$12.00$192.0KForm 4
Mar 17, 2026ELLIS THOMAS BDirectorSale104,454$12.01$1.3MForm 4
Mar 4, 2026ELLIS THOMAS BDirectorSale55,000$12.09$665.0KForm 4
Mar 3, 2026ELLIS THOMAS BDirectorSale381,004$12.18$4.6MForm 4
Mar 2, 2026ELLIS THOMAS BDirectorSale238,991$12.03$2.9MForm 4
Feb 25, 2026ELLIS THOMAS BDirectorSale300,092$12.18$3.7MForm 4
Feb 24, 2026ELLIS THOMAS BDirectorSale131,281$12.02$1.6MForm 4
Feb 23, 2026ELLIS THOMAS BDirectorSale6,500$12.01$78.1KForm 4
Feb 20, 2026ELLIS THOMAS BDirectorSale595,573$12.53$7.5MForm 4
Jan 5, 2026NORTH RUN GP, LPSale770,321$11.72$9.0MForm 4
Feb 25, 2025Rubin ShmuelPresident & CEOBuy1,000$2.45$2.5KForm 4
Feb 20, 2025Crider Kimberly AnneDirectorBuy1,000$2.51$2.5KForm 4

All 34 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Jul 1, 2026Raised $10,800 in a private offering of equity Form D: 1 investor so far Form D
  2. Apr 1, 2026Raised $10,800 in a private offering of equity Form D: 1 investor so far Form D
  3. Jan 2, 2026Raised $10,800 in a private offering of equity Form D: 1 investor so far Form D
  4. Sep 16, 2025Raised $8 million in a private offering of equity Form D: 2 investors so far Form D
  5. Mar 5, 2025Raised $32.2 million in a private offering of securities Form D: 6 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
BlackRock, Inc.4,469,744$73.1M0.0%+3,331,952
Hood River Capital Management LLC3,562,140$58.2M0.4%+1,126,377
Vanguard Capital Management LLC2,717,954$44.4M0.0%+133,694
AWM Investment Company, Inc.2,537,522$41.5M3.6%+499,912
Driehaus Capital Management LLC2,171,013$35.5M0.2%+6,305
Tema ETFs LLC1,986,945$32.5M1.0%+1,985,409
Tidal Investments LLC1,952,629$31.9M0.1%+1,933,881
Geode Capital Management, LLC1,446,816$23.7M0.0%+841,388
Bank Of America Corp /de/1,199,328$19.6M0.0%+643,291
Goldman Sachs Group Inc1,082,014$17.7M0.0%−1,394,885
Citadel Advisors LLC1,055,755$17.3M0.0%+272,307
State Street Corp1,044,222$17.1M0.0%+788,701
Telemark Asset Management, LLC1,025,000$16.8M1.2%+640,000
Needham Investment Management LLC1,010,000$16.5M0.5%+482,500
Royce & Associates LP969,621$15.9M0.1%−20,000
Emerald Advisers, LLC937,258$15.3M0.4%New
Jane Street Group, LLC863,505$14.1M0.0%+58,689
Relyea Zuckerberg Hanson LLC765,605$12.5M1.0%No change
Two Sigma Investments, LP678,151$11.1M0.0%+561,088
Renaissance Technologies LLC671,737$11.0M0.0%+275,815
Peregrine Investment Management Inc660,000$10.8M4.6%+260,000
Portolan Capital Management, LLC629,168$10.3M0.4%−411,294
Palisades Investment Partners, LLC609,566$10.0M2.8%+12,074
Emerald Mutual Fund Advisers Trust607,882$9.9M0.3%New
Qube Research & Technologies Ltd605,708$9.9M0.0%−182,676

13F reports cover disclosed long positions in U.S. stocks only.

Sources

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