Lightpath technologies reports fiscal 2024 third quarter financial results

Orlando, fl / accesswire / may 9, 2024 / lightpath technologies, inc. (nasdaq:lpth) ("lightpath," the "company," or "we"), a leading global, vertically integrated provider of thermal imaging cores, custom optical assemblies, photonics and infrared solutions for the industrial, commercial, defense, telecommunications, and medical industries, today announced financial results for its fiscal 2024 third quarter ended march 31, 2024. fiscal 2024 third quarter & subsequent highlights: revenue of $7.6 million for the third quarter of fiscal 2024 18% of revenue was for customized lens assemblies and solutions and related engineering services, or lightpath 2.0 as we refer to these product groups total backlog at march 31, 2024 of $22.0 million net loss for the third quarter of fiscal 2024 was $2.6 million ebitda* loss for the third quarter of fiscal 2024 was $1.5 million delivered on first milestone of the lockheed martin phase one development order received a european defense license which allows the company to supply products to the european defense industry, one of the largest defense markets in the world commercial launch of our new blackdiamond-nrl infrared glass, bdnl-4 first major design win for new bdnl materials for a new airborne department of defense program stockholders elected former space force cto kim crider to the board of directors management commentary lightpath's president and chief executive officer sam rubin stated, "developments in early 2024 continued to underscore our strategic shift from a component manufacturer (which we refer to as lightpath 1.0) to a value-added solutions provider of customized lens assemblies, solutions and related engineering services.
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