LIGHTPATH TECHNOLOGIES INC
LPTH· Nasdaq· Semiconductors & Related Devices
- Market cap
- –
- P/FCF
- –
- EV/Sales
- –
- FCF margin
- -23.0%
- ROIC, 5 yr avg
- –
- Revenue, 5 yr CAGR
- +13.3%
We record prices for the companies we cover; LPTH is not one of them yet.
Company statistics
Profile · FY2026
- Market cap
- –
- Enterprise value
- –
- Diluted shares
- 53.4M
- Revenue
- $71.7M
- Free cash flow
- -$16.5M
- Owner earnings
- -$19.4M
Valuation · FY2026
- P/E
- –
- P/FCF
- –
- P/Owner earnings
- –
- EV/Sales
- –
- EV/FCF
- –
- P/B
- –
Margins · FY2026
- Gross
- 36.0%
- Operating
- -27.4%
- Net
- -28.6%
- Free cash flow
- -23.0%
- Owner earnings
- -27.0%
- Stock pay
- 4.0%
Returns
- ROIC, FY2026
- –
- ROIC, 5 yr avg
- –
- ROE, FY2026
- -13.7%
- ROE, 5 yr avg
- -31.7%
Growth (CAGR)
- Revenue, 3 yr
- 29.6%
- Revenue, 5 yr
- 13.3%
- Revenue, 9 yr
- 10.9%
- Diluted EPS, 3 yr
- –
- Diluted EPS, 5 yr
- –
- Diluted EPS, 9 yr
- –
- Free cash flow, 3 yr
- –
- Free cash flow, 5 yr
- –
- Free cash flow, 9 yr
- –
Financial health · FY2026
- Cash and investments
- $93.2M
- Total debt
- –
- Net cash
- –
- Debt/Equity
- –
- Debt/FCF
- –
Shareholder returns · FY2026
- Dividend yield
- –
- Payout ratio
- –
- Buyback yield
- –
- Shareholder yield
- –
- Share count, 5 yr
- 15.2%
Financials: ten years from the 10-Ks
Revenue
$71.7M
+10.9% a year over 9 years
FY2017FY2026
Margins
Gross36.0%Operating-27.4%Net-28.6%
FY2026
FY2017FY2026
Free cash flow and owner earnings
Free cash flow-$16.5MOwner earnings-$19.4M
FY2026
FY2017FY2026
Diluted shares
53.4M
+146.3% over 9 years, net dilution
FY2017FY2026
Return on invested capital
–
FY2026
FY2017FY2026
Net cash
–
$72.0K more cash than debt
FY2017FY2026
Every figure, year by year
| Fiscal year | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 | FY2026 |
|---|---|---|---|---|---|---|---|---|---|---|
| The business | ||||||||||
| Revenue | $28.4M | $32.5M | $33.7M | $35.0M | $38.5M | $35.6M | $32.9M | $31.7M | $37.2M | $71.7M |
| Revenue growth | – | 14.7% | 3.8% | 3.6% | 10.0% | -7.6% | -7.4% | -3.7% | 17.3% | 92.8% |
| Gross margin | 51.9% | 38.5% | 37.1% | 39.6% | 35.0% | 33.2% | 33.6% | 27.2% | 27.2% | 36.0% |
| Operating margin | 14.6% | 1.1% | -3.4% | 6.1% | -4.8% | -7.4% | -10.8% | -24.7% | -31.8% | -27.4% |
| Net income | $7.7M | $1.1M | -$2.7M | $866.9K | -$3.2M | -$3.5M | -$4.0M | -$8.0M | -$14.9M | -$20.5M |
| Net margin | 27.2% | 3.3% | -7.9% | 2.5% | -8.3% | -10.0% | -12.3% | -25.2% | -40.0% | -28.6% |
| Diluted EPS | $0.36 | $0.04 | $-0.10 | $0.03 | $-0.12 | $-0.13 | $-0.13 | $-0.21 | $-0.36 | $-0.38 |
| Return on invested capital? | – | – | – | 3.4% | – | – | – | – | – | – |
| Cash | ||||||||||
| Operating cash flow | $5.0M | $2.6M | $411.2K | $3.7M | $4.7M | $1.5M | -$2.8M | $521.0K | -$8.3M | -$10.2M |
| Capital expenditure | $2.2M | $2.5M | $1.9M | $2.4M | $3.2M | $1.6M | $3.1M | $2.2M | $1.3M | $6.3M |
| Free cash flow | $2.8M | $101.3K | -$1.5M | $1.3M | $1.6M | -$162.5K | -$5.9M | -$1.7M | -$9.6M | -$16.5M |
| Stock-based compensation | $394.9K | $373.6K | $394.8K | $250.7K | $642.9K | $825.3K | $1.3M | $1.0M | $1.0M | $2.9M |
| Owner earnings? | $2.4M | -$272.3K | -$1.9M | $1.0M | $930.4K | -$987.7K | -$7.2M | -$2.7M | -$10.6M | -$19.4M |
| Free cash flow per share | $0.13 | $0.00 | $-0.06 | $0.05 | $0.06 | $-0.01 | $-0.19 | $-0.04 | $-0.23 | $-0.31 |
| Capital allocation | ||||||||||
| Dividends paid | – | – | – | – | – | – | – | – | – | – |
| Share repurchases | – | – | – | – | – | – | – | – | – | – |
| Diluted shares | 21.7M | 26.8M | 25.8M | 27.5M | 26.3M | 27.0M | 31.6M | 37.9M | 40.9M | 53.4M |
| Share count change? | 28.4% | 23.7% | -3.8% | 6.5% | -4.2% | 2.7% | 17.1% | 19.9% | 7.7% | 30.6% |
| Balance sheet | ||||||||||
| Cash and equivalents | $8.1M | $5.5M | $4.6M | $5.4M | $6.8M | $5.5M | $4.7M | $3.5M | $4.9M | $93.2M |
| Short-term investments | – | – | – | – | – | – | – | – | – | – |
| Total debt | $9.9M | $5.1M | $5.0M | $4.4M | $4.1M | $3.2M | $1.6M | $325.9K | $4.8M | – |
| Net debt | $1.8M | -$388.8K | $395.4K | -$950.0K | -$2.7M | -$2.3M | -$3.1M | -$3.2M | -$72.0K | – |
| Shareholders' equity | $29.7M | $35.4M | $33.5M | $34.6M | $33.6M | $29.7M | $36.0M | $30.2M | $15.6M | $149.5M |
Latest filings
| 2026-10-26 | DEF 14A | Proxy statement |
| 2026-09-11 | 10-K | Annual report |
| 2026-09-10 | 8-K | Earnings release |
| 2026-05-07 | 10-Q | Quarterly report |
| 2026-05-07 | 8-K | Earnings release |
| 2026-02-11 | 10-Q | Quarterly report |
| 2026-02-11 | 8-K | Earnings release |
| 2025-11-12 | 10-Q | Quarterly report |
| 2025-11-12 | 8-K | Earnings release |
| 2025-10-28 | DEF 14A | Proxy statement |
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