LPTH · Lightpath Technologies Inc - Financials
Annual line items from SEC XBRL filings, sourced from EDGAR's Company Facts API with fallback to the quarterly Financial Statement Data Sets. See issuer overview for Form 4 activity and 10-K signals.
Income Statement
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Revenue | $37.20M | $31.73M | $32.93M | $35.56M | $38.46M | $34.97M |
| Cost of Revenue | $27.07M | $23.09M | $21.86M | $23.74M | $25.02M | $21.13M |
| Gross Profit | $10.13M | $8.63M | $11.07M | $11.81M | $13.45M | $13.84M |
| R&D | $3.06M | $2.40M | $2.15M | $2.09M | $2.17M | $1.71M |
| SG&A | $15.81M | $12.30M | $11.44M | $11.22M | $11.99M | $8.96M |
| Total Operating Expenses | $21.95M | $16.46M | $14.63M | $14.44M | $15.29M | $11.70M |
| D&A | $4.15M | $4.05M | $3.17M | $3.51M | $3.51M | $3.42M |
| Operating Income | ($11.82M) | ($7.83M) | ($3.55M) | ($2.63M) | ($1.84M) | $2.15M |
| Interest Expense | $1.12M | $191.9K | $283.3K | $215.4K | $215.4K | $339.4K |
| Income Tax | $37.8K | $67.5K | $234.0K | $862.9K | $933.9K | $764.0K |
| Net Income | ($14.87M) | ($8.01M) | ($4.05M) | ($3.54M) | ($3.19M) | $866.9K |
| EPS - Basic | ($0.36) | ($0.21) | ($0.13) | ($0.13) | ($0.12) | $0.03 |
| EPS - Diluted | ($0.36) | ($0.21) | ($0.13) | ($0.13) | ($0.12) | $0.03 |
Balance Sheet
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Cash & Equivalents | $4.88M | $3.48M | $4.69M | $5.51M | $6.77M | $5.39M |
| Accounts Receivable | $9.46M | $4.93M | - | - | $4.66M | $6.19M |
| Inventory | $12.86M | $6.55M | $7.41M | $6.99M | $8.66M | $8.98M |
| Accounts Payable | $7.42M | $3.23M | $2.57M | $3.07M | $2.92M | $2.56M |
| Current Assets | $28.37M | $15.54M | $21.76M | $18.17M | $20.70M | $21.26M |
| Total Assets | $81.51M | $48.09M | $53.54M | $50.71M | $54.61M | $47.57M |
| Current Liabilities | $17.10M | $8.04M | $6.83M | $7.73M | $8.45M | $7.40M |
| Long-term Debt | $4.80M | $325.9K | $1.55M | $3.22M | $4.06M | $4.44M |
| Total Liabilities | $31.63M | $17.89M | $17.58M | $20.98M | $21.03M | $13.01M |
| Stockholders' Equity | $15.64M | $30.20M | $35.95M | $29.73M | $33.58M | $34.57M |
| Retained Earnings | ($230.72M) | ($215.84M) | ($207.84M) | ($203.79M) | ($200.25M) | ($197.06M) |
Cash Flow
| Line item | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Operating Cash Flow | ($8.33M) | $521.0K | ($2.81M) | $1.46M | $4.73M | $3.73M |
| Investing Cash Flow | ($19.74M) | ($2.67M) | ($2.87M) | ($1.63M) | ($3.16M) | ($2.26M) |
| Financing Cash Flow | $29.30M | ($1.47M) | $7.46M | ($636.2K) | ($843.4K) | ($621.7K) |
| CapEx | $1.26M | $2.18M | $3.08M | $1.63M | $3.16M | $2.44M |
| Free Cash Flow | ($9.59M) | ($1.66M) | ($5.89M) | ($162.5K) | $1.57M | $1.29M |
Ratios
| Metric | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 | FY 2020 |
|---|---|---|---|---|---|---|
| Profitability | ||||||
| Gross margin | 27.2% | 27.2% | 33.6% | 33.2% | 35.0% | 39.6% |
| Operating margin | -31.8% | -24.7% | -10.8% | -7.4% | -4.8% | 6.1% |
| EBITDA margin | -20.6% | -11.9% | -1.2% | 2.5% | 4.3% | 15.9% |
| Net margin | -40.0% | -25.2% | -12.3% | -10.0% | -8.3% | 2.5% |
| Free cash flow margin | -25.8% | -5.2% | -17.9% | -0.5% | 4.1% | 3.7% |
| FCF / Net income | 0.65 | 0.21 | 1.45 | 0.05 | -0.49 | 1.49 |
| R&D / Revenue | 8.2% | 7.6% | 6.5% | 5.9% | 5.6% | 4.9% |
| SG&A / Revenue | 42.5% | 38.8% | 34.7% | 31.6% | 31.2% | 25.6% |
| Effective tax rate | - | - | - | - | - | 46.8% |
| Return on assets | -18.2% | -16.7% | -7.6% | -7.0% | -5.8% | 1.8% |
| Return on equity | -95.1% | -26.5% | -11.3% | -11.9% | -9.5% | 2.5% |
| Return on invested capital | -45.7% | -20.3% | -7.5% | -6.3% | -3.9% | 2.9% |
| Liquidity | ||||||
| Current ratio | 1.66 | 1.93 | 3.18 | 2.35 | 2.45 | 2.87 |
| Quick ratio | 0.91 | 1.12 | 2.10 | 1.45 | 1.43 | 1.66 |
| Cash ratio | 0.29 | 0.43 | 0.69 | 0.71 | 0.80 | 0.73 |
| Leverage | ||||||
| Debt / Equity | 0.31 | 0.01 | 0.04 | 0.11 | 0.12 | 0.13 |
| Debt / Assets | 0.06 | 0.01 | 0.03 | 0.06 | 0.07 | 0.09 |
| Debt / EBITDA | - | - | - | 3.65 | 2.43 | 0.80 |
| Interest coverage | -10.6x | -40.8x | -12.5x | -12.2x | -8.6x | 6.3x |
| Equity multiplier | 5.21 | 1.59 | 1.49 | 1.71 | 1.63 | 1.38 |
| Liabilities / Assets | 0.39 | 0.37 | 0.33 | 0.41 | 0.39 | 0.27 |
| Efficiency | ||||||
| Asset turnover | 0.46 | 0.66 | 0.62 | 0.70 | 0.70 | 0.74 |
| Inventory turnover | 2.11 | 3.53 | 2.95 | 3.40 | 2.89 | 2.35 |
| Days sales outstanding | 93d | 57d | - | - | 44d | 65d |
| Days inventory outstanding | 173d | 104d | 124d | 107d | 126d | 155d |
| Days payable outstanding | 100d | 51d | 43d | 47d | 43d | 44d |
| Cash conversion cycle | 166d | 109d | - | - | 128d | 176d |
| Valuation | ||||||
| P / E | - | - | - | - | - | 111.3x |
| P / B | 8.0x | 1.6x | 1.2x | 1.1x | 2.0x | 2.7x |
| P / S | 3.4x | 1.5x | 1.3x | 0.9x | 1.7x | 2.6x |
| EV / EBITDA | - | - | - | 35.1x | 38.5x | 16.3x |
| Growth | ||||||
| Revenue growth (YoY) | 17.3% | -3.7% | -7.4% | -7.6% | 10.0% | 3.6% |
| Revenue CAGR (3y) | 1.5% | -6.2% | -2.0% | 1.8% | 10.7% | - |
| Revenue CAGR (5y) | 1.2% | -1.2% | 3.0% | - | - | - |
| Gross profit growth (YoY) | 17.4% | -22.1% | -6.3% | -12.1% | -2.9% | 10.6% |
| Operating income growth (YoY) | -51.1% | -120.2% | -35.3% | -42.6% | - | - |
| Net income growth (YoY) | -85.7% | -97.9% | -14.2% | -11.2% | - | - |
| EPS growth (YoY) | -71.4% | -61.5% | 0.0% | -8.3% | - | - |
| EPS CAGR (3y) | - | - | - | - | - | -56.3% |
| EPS CAGR (5y) | - | - | - | - | - | - |
| FCF growth (YoY) | -477.3% | 71.8% | -3522.9% | - | 22.0% | - |
| FCF CAGR (5y) | - | - | - | - | 31.9% | - |
| Book value growth (YoY) | -48.2% | -16.0% | 20.9% | -11.5% | -2.9% | 3.3% |
Sales by segment
From XBRL dimensional facts in the 10-K period ending 2025-06-30.
Product / service
$37.20M totalInfrared Components$14.31M · 38.5%
Visible Components$11.74M · 31.5%
Assemblies And Modules$7.97M · 21.4%
Engineering Services$3.19M · 8.6%
Geographic
$14.25M totalOther European Countries$9.10M · 63.9%
CN$2.91M · 20.4%
Rest Of World$1.23M · 8.7%
Other Asian Countries$1.00M · 7.0%
Stability scores
Altman Z′
FY 2025 · bankruptcy risk
-2.09
Distress
Private-firm variant - uses book equity instead of market cap. > 2.90 safe · 1.23-2.90 grey · < 1.23 distress.
Piotroski F-score
FY 2025 · 9-point quality
2/9
Weak
- ✗Net income positive
- ✗Operating cash flow positive
- ✗ROA improved YoY
- ✓Cash flow > net income
- ✗Long-term debt decreased
- ✗Current ratio improved
- ✗No share dilution
- ✓Gross margin improved
- ✗Asset turnover improved
Peer comparison
Same SIC group: Semiconductors & Related Devices
Comparing LIGHTPATH TECHNOLOGIES INC against the 5 most active filers in the same SIC group.