LightPath Q2 Revenue Reaches $16.4M, Exceeds Expectations
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Feb 11 2026
0mins
Should l Buy LPTH?
Reports Q2 revenue $16.4M, consensus $14.96M. Sam Rubin, CEO of LightPath, said: "The second quarter of 2026 was underscored by our accelerating revenue growth on strong orders, and the recent acquisition of Amorphous Materials. Ongoing order momentum and the addition of G5 Infrared LLC's sales of cameras and modules drove a 120% revenue improvement to a record $16.4 million for the quarter. Our $97.8 million order backlog as of the end of the second quarter is demonstrating our position as a leading pure-play provider of high value optical and imaging systems."
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Analyst Views on LPTH
Wall Street analysts forecast LPTH stock price to rise
5 Analyst Rating
5 Buy
0 Hold
0 Sell
Strong Buy
Current: 11.180
Low
10.00
Averages
12.00
High
15.00
Current: 11.180
Low
10.00
Averages
12.00
High
15.00
About LPTH
LightPath Technologies, Inc. is a global, vertically integrated provider of optics, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries. The Company designs and manufactures optical and infrared components including molded glass aspheric lenses and assemblies, custom molded glass freeform lenses, infrared lenses and thermal imaging assemblies, fused fiber collimators, and BlackDiamond (BD6) chalcogenide-based glass lenses. It also offers custom optical assemblies, including full engineering design support. Its business is organized into four product groups: infrared components, visible components, assemblies and modules, and engineering services. Its infrared product group comprises both molded and turned infrared lenses and assemblies using a variety of infrared glass materials. Its assemblies and modules product group is comprised of other value-added products, including both infrared and visible components.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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See More
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- Stock Price Surge: Following the positive earnings report, HubSpot's shares jumped 9.4% to $228.93 on Thursday, reflecting investor optimism about the company's growth potential and likely attracting more investor interest.
- Mixed Market Performance: While U.S. stocks showed mixed results overall, HubSpot's strong performance distinguished it among many stocks, demonstrating relative resilience and appeal in a fluctuating market.
See More
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- Analyst Rating Changes: Top Wall Street analysts have adjusted their ratings on several companies, indicating a shift in market sentiment that could influence investor decisions and market trends.
- Upgrades and Downgrades: While specific upgrades and downgrades are not detailed, such changes typically have a direct impact on the stock prices of the affected companies, prompting investors to closely monitor these shifts to optimize their portfolios.
- Market Reaction Expectations: The adjustments in analyst ratings may trigger short-term market volatility, particularly when investor sentiment is sensitive to certain stocks, potentially leading to rapid price increases or decreases.
- Impact on Investor Decisions: As analysts revise their views on stocks, investors may reassess their investment strategies when considering buying or holding these stocks, thereby affecting overall market liquidity.
See More
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- Significant Revenue Growth: LightPath reported revenue of $16.4 million in Q2 2026, a 120% increase year-over-year, with infrared components contributing $5 million, indicating strong demand and increasing customer adoption in the high-value optics market.
- Margin Expansion: Gross profit reached $6 million, representing a 37% gross margin, reflecting a remarkable 212% increase compared to the same quarter last year, which enhances the company's future profitability and cost control capabilities.
- Strategic Acquisition Impact: The acquisition of Amorphous Materials enables LightPath to produce large diameter Black Diamond lenses critical for long-range and space applications, enhancing product competitiveness and laying the groundwork for expansion in defense and space markets.
- Positive Financial Outlook: Management anticipates rapid market share expansion over the next three years, targeting a gross margin of 35% or higher by Q4 2026 and achieving positive EBITDA in Q2, demonstrating confidence in future growth and execution capabilities.
See More
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- Revenue Growth Expectations: The anticipated revenue for Q2 is $14.96 million, representing a significant year-over-year increase of 101.6%, which highlights the company's positive performance amid recovering market demand and improved product sales.
- Performance Forecast Revisions: Over the past year, LightPath has only beaten EPS and revenue estimates 25% of the time, although in the last three months, there has been one upward revision and no downward adjustments to EPS estimates, suggesting cautious optimism among analysts regarding future performance.
- Acquisition and Financing Moves: LightPath's acquisition of Amorphous Materials for $7 million and the launch of a public offering for common stock demonstrate the company's proactive strategy in expanding its business and securing financing, despite the overall high valuations in the sector.
See More
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- Significant Order Value: LightPath Technologies announced it has secured a $9.6 million purchase order from an existing defense customer for use in defense and security applications, with deliveries expected throughout 2026, indicating strong demand and growth potential in the defense market.
- Enhanced Production Capacity: The cameras will be produced at facilities in Florida and New Hampshire, leveraging the company's expanded domestic manufacturing capabilities, thereby strengthening its competitive edge and responsiveness in the defense sector.
- Positive Market Reaction: Following the announcement, LightPath Technologies' stock rose 4.16% in pre-market trading to $11, reflecting investor optimism regarding the company's future growth prospects.
- Optimistic Industry Outlook: Despite the overall high valuations in the optical technology market, LightPath's ongoing orders in defense and security applications highlight potential growth opportunities in the sector, which may attract further investor interest.
See More
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- Enhanced Production Capacity: The production of this order will be split between the company's facilities in Florida and New Hampshire, leveraging LightPath's expanded domestic manufacturing capabilities, thereby enhancing flexibility and responsiveness in its supply chain.
- Strategic Acquisition Impact: CEO Sam Rubin highlighted that this repeat order underscores the strategic value of the G5 acquisition, demonstrating the company's competitiveness and product reliability in the high-end cooled infrared camera systems market.
- Sustained Growth Potential: G5's revenue is driven by established multi-year contracts and multiple record programs in shipboard long-range surveillance, border security, and counter-UAS systems, indicating the company's ongoing growth potential in the defense market and deepening customer relationships.
See More
