Thu, Sep 19, 8:26 PM (175 days ago)
**LightPath Technologies, Inc. 10-K Summary (Fiscal Year Ended June 30, 2024)** LightPath Technologies reported a revenue decline of 4% to approximately $31.7 million for FY 2024, with key product groups seeing varied performance: infrared components decreased by 2% to $14.1 million, visible components dropped 16% to $11.2 million, while engineering services surged by $1.5 million, largely due to the acquisition of Visimid Technologies. The company incurred a net loss of $8.0 million, worsening from a $4.0 million loss in FY 2023, attributed to lower revenues and increased operating expenses, including a notable rise in selling, general, and administrative costs. Operationally, LightPath is transitioning from a component manufacturer to a solutions provider, focusing on engineered optical solutions. This strategic shift aims to capture higher-margin opportunities, particularly in the infrared market. Key risks include dependency on major customers, international supply chain disruptions, and geopolitical factors affecting material costs, notably Germanium. The company maintains a solid liquidity position with $3.5 million in cash and plans to leverage its recent acquisitions for future growth. The outlook anticipates revenue growth driven by new product introductions and strategic partnerships, despite ongoing economic uncertainties in key markets.