Lightpath technologies reports fiscal 2024 second quarter financial results

Orlando, fl / accesswire / february 8, 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 second quarter ended december 31, 2023. fiscal 2024 second quarter highlights: revenue of $7.3 million for the second quarter of fiscal 2024 total backlog at december 31, 2023 of $21.2 million net loss for the second quarter of fiscal 2024 was $1.7 million ebitda* loss for the second quarter of fiscal 2024 was $0.5 million initial $4.7 million order from partnership with lockheed martin to develop an advanced infrared camera system for a key army program secured renewal order of $3.4 million, a 36% increase from initial order to provide advanced infrared optics for a critical international military program completed over $5 million expansion and renovation of orlando facility, increasing total footprint from 34,000 square feet to 55,000 square feet management commentary lightpath's president and chief executive officer sam rubin stated, "the second fiscal quarter of 2024 was highlighted by a key first order in our partnership with lockheed martin, a major milestone in our strategy to pivot from a pure components manufacturer to an imaging solutions provider.
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